Monday 14th May 2018

Atiku to Partially Privatise NNPC, Allow Currency Float If Elected 41 items will not benefit from currency swap, CBN insists I & E window records $13bn transactions in one week Obinna Chima with agency report In a move set to project the reforms to be initiated under his government, former Vice-

President Atiku Abubakar has said that he will privatise parts of the Nigerian National Petroleum Corporation (NNPC) and allow the naira currency to float to attract foreign

investment, if he is elected president in the 2019 elections.

The reform-minded Atiku, in an interview with Reuters, also confirmed that he intends to run in next year’s presidential

election, possibly becoming the biggest opposition heavyweight to say he will take on President Muhammadu Buhari.

The winner of next February’s poll will lead

Africa's top oil producer and most populous nation, which is central to regional stability as it battles Islamist militants in the North-east.

Abubakar, a former key ally

of Buhari, whose resources helped propel him to power, quit the ruling All Progressives Congress (APC) in November Continued on page 8

Statoil Loses 5% Stake in Agbami Oilfield, To Pay Chevron $1.1bn… Page 8 Monday 14 May, 2018 Vol 23. No 8425. Price: N250

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Statoil Loses 5% Stake in Agbami OilďŹ eld, To Pay Chevron $1.1bn NNPC: Repayment of $5.1bn cash call arrears progressing Davidson Iriekpen in Lagos and Chineme Okafor in Abuja with agency report Norwegian oil firm, Statoil, has lost an arbitration dispute to the tune of $1.1 billion against its partners, including Chevron and Petrobras, over the redetermination of shares in Nigeria’s largest deepwater oilfield – Agbami.

A Nigerian-based tribunal made up of three English senior lawyers issued the award that would see Statoil paying Chevron and Petrobras $1.1 billion and losing a 5.17 per cent stake in the Agbami oilfield.

The tribunal rejected Statoil’s request to set aside a 2015 expert determination in favour of the Nigerian subsidiaries of Chevron and Petrobras, and a local partner, Famfa Oil. The expert determined that the Norwegian giant’s shares in the Agbami oilfield should be reduced from 20.21 per cent to 15.04 per cent.

Statoil, which is majority-owned by the Norwegian government, according to the Global Arbitration Review, revealed the outcome in a disclosure to the United States Securities and Exchange Commission (SEC).

Located 110 kilometres of Nigeria’s coast, the Agbami field straddles two oil licence blocks: one is majority-owned by Chevron alongside Petrobras and famfa Oil, with the other owned by Statoil and Chevron.

The oilfield has been jointly developed by the blocks’ shareholders, pursuant to a unanimous agreement under which the allocation of costs and production is linked to the estimated percentage of oil located in each block.

In 2012, Chevron began a contractual process to redetermine the allocation of shares in the oilfield based on newly acquired data.

When the parties failed to agree on the data that should be included, the dispute was referred to an expert

from Gaffney Cline and Associates.

Under the contract, decisions by experts can be challenged through ad hoc arbitration under the rules of the Nigerian Arbitration and Conciliation Act. The expert made an interim ruling in favour of Chevron in 2013.

But Statoil brought the first arbitration to set aside the ruling, arguing that the expert erred by admitting data from after 2007.

Then a tribunal chaired by Australia’s Michael Pryles, including two British Queen’s Counsel, Ian Glick and Stuart Isaac, issued its award in 2015 rejecting Statoil’s claim and upholding the interim ruling.

In the same year, the expert issued a final ruling that Statoil’s shares in the Agbami oilfield will be reduced from 20.21 per cent to 15.04 per cent, promting another arbitration claim by the Norwegian company.

In the latest award, a different tribunal rejected Statoil’s argument that the expert exceeded his jurisdiction in his interpretation of the data.

At the same time, the tribunal rejected a request by the respondent that the award should have a retroactive effect from the date the final expert ruling was made.

How Statoil’s shares will be reallocated is yet to be decided by the various internal mechanisms established under the unit agreement.

While Statoil had previously estimated that the redetermination process was worth $880 million, Norway’s Dagens Neringsliv and Offshore Technology magazine, had valued the dispute at close to $1.1 billion.

The primary issues affecting the value of the redetermination are the future oil production, the price of oil, whether licences for the oil block are extended, and the extended and the effective data of the award.

In its April 25 regulatory filing with the US SEC, Statoil said it was

“currently evaluating the arbitration ruling�, which it said will have “no impact on Statoil’s accounting for the Agbami redetermination as the outcome of the expert ruling has been provided for�.

The company said it had recognised the reduction of its stake in the field through its Nigerian tax provision.

Since the Nigerian Arbitration Act requires advocacy to be carried out by local counsel, the parties used Nigerian firms in the arbitration with international counsel in advisory roles.

Hearings in the arbitration concerning the expert’s interim ruling took place in London while those on the expert’s final ruling held in Lagos.

In resolving the dispute, Clifford Chance and Strachan Partners acted for Statoil, Chevron was represented by Uche Nwokedi & Co and Herbert Smith Freehills, while Petrobra used Ashurst and Aelex. FamfaOil relied on the local firm of MFA Solicitors & Co. Statoil’s challenge of the 2015 award upholding the expert’s interim ruling is pending before the Nigerian Supreme Court.

The company argued that the tribunal misconducted itself in the way it reformulated the issues in dispute and committed serious procedural irregularities by preventing Statoil from submitting evidence on issues that were determined to be highly important to the arbitration.

The award had already been upheld by the Federal High Court in Lagos in May 2017 as well as the Court of Appeal, which ruled that the arbitrators had not misconducted themselves and that Statoil’s counsel had agreed to the tribunal’s formation of the issues.

The Nigerian National Petroleum Corporation (NNPC), which was joined in the proceedings by an order of the court, as it was also a party to the 2005 Agbami agreement, filed an affidavit supporting Statoil.

Despite their disagreements, Statoil and Chevron have been working together in a separate dispute with NNPC over the allocation of crude oil under their production sharing contract (PSC) for one of the blocks that covers Agbami.

In March, the two companies applied to a New York court for the enforcement of a $1 billion award against the NNPC, although the award has been annulled at the seat of arbitration in Nigeria.

NNPC is facing three similar actions in the same court by other oil block operators.

Last year, Petrobras announced that it would sell its stake in the Agbami oilfield, with Famfa Oil, owned by Africa’s second wealthiest woman, Mrs. Folorunsho Alakija, reported to be interested in purchasing it.

Cash Call Arrears Meanwhile, the NNPC yesterday disclosed that it was making progress with its repayment of the $5.1 billion negotiated cash call debts to international oil companies (IOCs) in Nigeria, stating that both the National Economic Council (NEC) and Federal Executive Council (FEC) were aware of the progress it has made so far.

The NNPC, however, did not disclose how much had been paid to the IOCs, but it told THISDAY that it has kept to the terms of the repayment agreement.

It added that the Federation Account Allocation Committee (FAAC) was briefed regularly on the payment details. “The administration of President Muhammadu Buhari inherited cash call arrears of $6.8 billion, unpaid by previous administrations. President Buhari subsequently directed NNPC to resolve this challenge which had led the IOC JV partners to drastically reduce investment in the Nigerian oil sector. “Based on Mr. President’s

directive, NNPC engaged the IOCs and negotiated the cash call arrears down from $6.8 billion to $5.1 billion, saving the country $1.7 billion. NNPC then set a repayment plan in place,� said NNPC’s Group General Manager, Public Affairs, Mr. Ndu Ughamadu, to THISDAY on the phone.

Ughamadu further stated: “The key point with the repayment plan was that the arrears would be repaid from incremental production over a five-year period so that base production would be preserved. “This arrangement was translated into a repayment agreement which was further endorsed by the state governors at National Economic Council and approved by Federal Executive Council. “To date, NNPC has kept to the terms of the repayment agreement.

The FAAC meeting is regularly briefed on the repayment status and will receive a briefing update at the next scheduled FAAC engagement.�

FAAC meets every month to share federally collected revenue to the three tiers of government in Nigeria under a revenue sharing formula.

The corporation also stated that it increased the supply of gas to the country’s power sector between January 2017 and January 2018 by 89 per cent.

Ughamadu, in a different statement, said the information was contained in the corporation’s monthly financial and operations report for January 2018.

According to him, gas-to-power supply as of January 2018 stood at 731 million metric standard cubic feet per day (mmscf/d) as against 387mmscf/d in January 2017, representing an 88.89 per cent increase. “An average of 731mmscf/d of gas was sent to over 20 domestic thermal power plants in the month of January 2018, generating thermal power output of 3,076 megawatts (MW) to the national grid, representing 76.7 per cent of the total national power generation,�

the statement said.

The report, Ughamadu said, indicated that an additional 365mmscf/d of gas was supplied to the industrial sector to power over 50 companies in the period.

He said total gas production for the month stood at 8,169mmscf/d, of which 14 per cent was supplied to the domestic market, 43 per cent for export, 31% per cent re-injected, and the balance flared.

Ughamadu equally disclosed that total crude processed by the corporation’s two refineries in Kaduna and Port Harcourt for the month of January 2018 was 204,877 metric tonnes.

He said production by the two refineries during the period translated to a combined yield efficiency of 89.97 per cent as against 88.99 per cent in December 2017.

The report said 1,463.66 million litres of petrol and 33.79 million litres of kerosene were supplied in the country through the Direct Supply Direct Purchase (DSDP) arrangement, adding that the corporation’s supply of petrol in the country during the period was far above the normal daily supply of 35 million litres per day to ensure product availability nationwide.

By implication, NNPC supplied an average of 47.2 million litres of petrol daily in January 2018.

The report further reiterated that NNPC was inching closer to choosing financiers for its refineries with a view to achieving 90 per cent capacity utilisation per stream daily before the end of 2019.

It, however, said continuing vandalism of its crude oil pipelines was among its biggest challenges in January 2018, noting that the malaise was putting it in a disadvantaged position.

One hundred and ninety-four pipeline points, it stated, were vandalised in January, with the Port Harcourt to Aba, Aba to Enugu pipeline segment accounting for 187 points or 86.57 per cent of the affected pipelines.

THISDAY yesterday, CBN spokesman, Mr. Isaac Okorafor, stressed that importers of the restricted items were expected to source their forex from autonomous market sources.

He insisted that the currency swap bilateral deal does not cover the 41 restricted items.

The CBN had in July 2015, restricted 41 items, including vegetable oil, poultry products, toothpicks, cosmetics, plastic and rubber products, among others, from accessing foreign exchange from the interbank forex market.

Okorafor also explained that the currency swap would enhance the federal government’s import-substitution policy, boost the activities of small and medium scale enterprises, and enhance job creation. “None of the items on the list will be funded under this currency swap agreement with China. And I can tell you that the currency swap will address SME forex constraints, enhance supply of raw materials, intermediate goods, and machinery “The restriction of the 41 items policy will ensure that the currency swap will not lead to dumping. It will ease third currency pressure in the country. “In addition, the currency swap will make trade with China

convenient and fast, complement the SME forex window because the CBN’s funding of SMEs and creation of the SME forex window and currency swap are all part of the central bank’s strategy to grow the economy,� he added.

Meanwhile, forex flows in the Investors’ and Exporters’ (I & E) window of the CBN rose significantly by 63.3 per cent in just one week, to $1.3 billion last week, said a report by Afrinvest Securities.

Total trade value for the week of May 7-11 was a marked improvement over the $782 million recorded in the preceding week, reflecting increasing confidence in the country’s financial markets and the decision by the U.S. Federal Reserve last week not to raise rates.

The value of foreign investor holdings of Nigeria’s local debt instruments rose significantly to $16 billion at end of March, up from the $4 billion, the International Monetary Fund’s mission chief to Nigeria, Mr. Amine Mati, disclosed last week.

In addition, he said Nigeria’s equities market has seen increased interest by foreign investors. “The number of investors that keep coming to my office (to make enquiries about investing in Nigeria) keeps rising,� he added.

ATI KU TO PARTIA LLY PRIVAT ISE N N PC, AL LOW C U R R E N CY F LOAT I F E L ECT E D and re-joined the opposition Peoples Democratic Party (PDP) a month later.

He has long enjoyed the support of the business elite in Nigeria’s commercial capital Lagos for his conservative-capitalist ideals and, as vice-president in a PDP administration from 1999-2007, he implemented a programme of liberalisation in areas including the telecoms sector.

As vice-president, Atiku was also the chairman of the National

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Council of Privatisation (NCP), which oversaw the sale of several state-run enterprises to the private sector and initiated reforms in the telecommunications, pensions, ports and power sectors between 1999 and 2007.

Atiku said he would go further if elected president. “I am also going to expand it to include the oil and gas sector which has not been touched at all and other major sectors of the economy like mining, solid minerals,� he said.

Atiku said he would privatise parts of NNPC, which has been beset by decades of mismanagement and is crucial to Nigeria’s economic fortunes.

He did not specify the parts that would be privatised. “I am a strong believer in very, very small government and also the private sector,� he said.

A drop in crude oil prices from late 2014 pushed Nigeria into its first recession in 25 years in 2016, spawning chronic dollar shortages because oil receipts make up two-thirds of government revenue and most of the country’s foreign exchange earnings.

The economy moved out of recession last year but growth remains weak and multiple exchange rates remain in place, imposed by the Central Bank of

Nigeria (CBN) to support Buhari’s insistence that the naira should not be allowed to float. “I will allow the naira to float because I believe that is one of the ways foreign direct investment can be encouraged to come in,� said Atiku, who hopes to replicate Buhari’s 2015 feat of winning a presidential election at the fourth attempt.

Buhari took office in 2015, and whoever becomes president next year will face challenges ranging from weak economic growth to communal violence between semi-nomadic herdsmen and farmers, as well as the Boko Haram insurgency.

Abubakar - who, like Buhari, is a Muslim from the North - said voters would welcome someone who could revive their fortunes, adding that of his four previous presidential campaigns he was only once rejected by the electorate.

He was not selected as a party candidate on three other occasions.

Parties must select their candidate by October 7. The next president should be a Northerner, based on an unofficial powersharing agreement under which the presidency alternates between the North and South after every two four-year terms.

However, Bismarck Rewane, chief executive of Lagos-based

consultancy Financial Derivatives, said the former vice-president’s familiarity and age could be a disadvantage. “To upset the Buhari candidature, you need something different: someone young, energetic and charismatic. You need something distinct from the current leadership,� he said. “Atiku lacks Buhari’s popularity in Northern states and at 71, just four years younger than the president, would struggle to generate inter-generational appeal,� Rewane said.

The UN estimates that the median age in Nigeria is 18.

No Currency Swap for 41 Items Atiku’s pronnouncement on his reform measures came just as the CBN yesterday explained that none of the items it has restricted from accessing foreign exchange (forex) from the interbank market will benefit from the $2.5 billion bilateral currency swap agreement it signed recently with the People’s Bank of China (PBoC).

The clarification became necessary, said the CBN, following speculation that the bilateral agreement would unlock access to forex for the restricted 41 items.

But speaking in a chat with

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NEWS

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

NCAA Suspends First Nation Airways’ Operations We are currently working assiduously on fleet expansion, says airline Chinedu Eze The Nigerian Civil Aviation Authority (NCAA) has suspended the Air Operator’s Certificate (AOC) of First Nation Airways indefinitely.

The agency notified the airline about the suspension in a letter with reference number NCAA/ DG/CSLA/RM/1-06/18/2304 dated May 11, 2018, and signed by the Director General of the agency, Captain Muhtar Usman, The spokesman of NCAA, Sam Adurogboye, said the letter titled: ‘Notice of Suspnsion of Air Operators Certificate’ was delivered to the airline on the above date and receipt acknowledged by the domestic operator.

NCAA said the suspension was sequel to the flagrant and continuous violation of the terms and conditions of issuance of AOC by the airline, thereby carrying out unauthorised and illegal operations.

The letter revealed that when the AOC of First Nation Airways expired, the airline did not have at least two airworthy aircraft capable of servicing its approved schedule

as minimum number required by Part 9.1.1.6(b)(2) (ii) of Nigerian Civil Aviation Regulation (Nig. CARS) 2015.

“Consequently, the airline’s Air Operators Certificate was, upon renewal, restricted to non-scheduled operation, (charter) only.

“However, First Nation Airways embarked on scheduled operations with continuous advertisement of its services and sold tickets at its check-in counters in Lagos and Abuja airports,” the regulatory agency explained in a statement.

NCAA said it had earlier notified the airline that it was investigating these violations and subsequently, by a letter dated August 31, 2017, the airline was directed to stop the illegal operations forthwith, warning that failure to desist would lead to a suspension of its operating authorisation.

“On further investigation, it was discovered that the airline had disregarded all warnings and continued with the unauthorised and illegal operations in violation of its AOC terms and conditions of issuance.

“This is contrary to the provisions of Part 9.1.1.4(d) of the Nig.CARS 2015 which provides that: “each AOC holder shall at all times, continue in compliance with the AOC terms and conditions of issuance, and maintenance requirements in order to hold that certificate,” NCAA further noted.

NCAA said it had determined that pursuant to Section 35(2),(3) (a) (ii) and (4) of the Civil Aviation Act, 2006, First Nation Airways is no longer fit to operate air transport business under the authority of the AOC. “Accordingly, the airline’s AOC has been suspended indefinitely, with effect from the May 11, 2018, when it received the notice.

“In addition, the operators of the airline are expected to return the AOC to the authority’s Director of Operations and Training within seven days of receiving the letter,” the agency said.

However, it noted that anytime the airline demonstrates the ability and willingness to comply with the extant regulations, the authority “shall review the airline’s operations and restore the AOC to enable it commence operations.

“The NCAA wishes to restate its zero tolerance for violations of the Nig.CARS and shall continue to enforce compliance through application of appropriate sanctions for any infractions,” the regulatory authority added.

Meanwhile, THISDAY made telephone calls to the management of the airline but no response.

Reacting to its suspension, FirstNation said in as much as it does not want to join issues with NCAA, it is currently working assiduously on fleet expansion and confident that it would grow its fleet this year. In a statement signed by Rasheed Yusuff, the airline said: “We are

reluctant to join issues, in the media with NCAA, as we believe that Regulation through media sensationalism will ultimately not serve the industry well. Except to reiterate that we respect regulations and have immediately complied with NCAA’s directive. It is also a matter of fact, that we presented two airworthy aircraft, to the Authority as far back as September 2017. It is therefore apparent that the context of our operation vis-a-vis compliance with the extant regulations and government’s policy have been misconstrued.

“Be that as it may, we will seek reconsideration and review of the suspension, in the light of facts that will be made available to the authorities. And will cooperate with NCAA in good faith, to address all concerns and the alleged infractions to reach resolution.

“It is pertinent to add that the allegations are not safety related

and that our operation achieved above industry dispatch reliability of over 95% and reputed for on time performance and schedule integrity. The operating aircraft and crew hold the relevant, safety critical approvals and authorisations.

“The basis of NCAA’s decision is therefore apparently commercial.

And in an Industry facing worsening Aircraft capacity constraints, the authority should be forward looking and working with industry to facilitate policies that will endear industry growth, so as not to further limit and compromise passengers’ choice options across all segments. The national interest has not been served by this development.

“We remain committed to the highest level of safety standard in line with industry best practise. Firstnation is currently working assiduously on fleet expansion and confident that we will grow our fleet this year, 2018.”

I Never Refused to Honour Senate’s Invitation, Says IG Ibrahim Shuaibu in Kano The Inspector General of Police (IG), Mr. Ibrahim Idris, yesterday said there was never a time he turned down the invitation of the Senate.

He said he has always had high regard for the Senate as an institution, adding that there was never a time he was invited and he refused to honour the invitation.

Idris, who made this known last Saturday night in Kano in an interview with a local radio station, Dala FM, said he had no cause to refuse to answer the call of the Senate if the issue has to do with the national interest.

According to him, “I have high regard for the Senate as an institution, because there has never been a time I was invited that I refused to honour any invitation.”

Idris noted that he places Senate in high esteem and would never refuse to honour its invitation.

He said the invitation of the Senate, according to the letter sent to him, was on Senator Dino Melaye’s case which is currently before a court, adding that discussing such would amount to prejudice and contempt.

The IG explained that since assumption of office in June 2016, he had appeared 10 times before the Senate on different issues of national importance, noting that he holds the lawmakers in high esteem.

Idris explained that the upper legislative chamber had refused the Deputy Inspector-General of Police in-charge of operation audience, which would have enabled the senators to understand reasons for not being around when he was invited on April 26.

“The recent claim by the Senate that the reason for inviting me was to brief them on the recent killings in some part of the country could be an afterthought which can be seen from the headings of their invitation letters,” he explained.

The Senate at the plenary recently declared the IG as an enemy of democracy and unfit to hold public office for failing to honour its invitations three times.

On the spate of killings in the country, Idris said new area commands had been created in some volatile environments, with the deployment of additional policemen to Zamfara, Birnin Gwari in Kaduna, Benue and Taraba States.

Also, he said the mop up exercise of prohibited arms and weapons across the country has led to the recovery of over 5,000 prohibited arms from wrong hands.

According to him, “It is a continuous operation as those in possession of such arms will be prosecuted after the expiration of the window created for voluntary submission of illegal weapons.”

Smile: We Have Never Defaulted on Our Loans The management of Smile Communications Nigeria Limited has clarified that it has never defaulted on its loan obligations.

The company, in a statement through it PR consultant in response to THISDAY’s story titled: ‘$125m Loan Default

Threatens Smile Communications’ Operations’, said the story was “a ploy to derail the ongoing investigative hearing on the 9mobile acquisition bid process currently ongoing at the House of Representatives Committee on Telecommunications.”

WELCOME TO SIERRA LEONE

Vice-President Yemi Osinbajo (left), arriving in Freetown, Sierra Leone, by ferry after flying into Lungi International Airport to attend the inauguration of the country’s president, Mr. Maada Bio....weekend NOVO ISIORO

Buhari Asks Loyalists Not to Flout INEC’s Timetable on Campaigns Onyebuchi Ezigbo in Abuja As Nigerians await more aspirants to the office of the presidency of the country to make their intentions known, President Muhammadu Buhari has directed his campaign officials and loyalists to ensure that they keep strictly to the guidelines for the campaigns.

Apart from the recent appointment of a lawyer, Festus Keyamo, as his campaign spokesman, a number of groups supporting the president’s reelection bid have sprung up across the country.

However, THISDAY gathered from a close ally of the president at the weekend that he does not want to jump the gun on the time table set out by the Independent National Electoral Commission (INEC) for anyone to kick-start

campaigns for 2019 election.

The source said this cautious approach by President Buhari explains why he chose the reserved atmosphere at the last meeting of the National Executive Committee of the All Progressives Congress (APC) to declare his interest to go for a second term.

“The president would not want to be seen flouting the electoral law with regards to the issue of timeline set by INEC for the 2019 elections. So we intend to wait for the appropriate time to commence our campaign. All we are doing now is consultations and mapping out strategies,” he said.

INEC had cautioned politicians and political parties to ensure that they do not engage in campaigns outside the timeframe stipulated for it as it is capable of heating up the polity and creating confusion.

According to the INEC 2019 election timetable, party primaries for the presidential, governorship, federal and state elections would begin onAugust 18 and end on October 7, 2018, while campaigns for presidential election will start from November 18.

But ahead of President Buhari’s formal campaign launch for the second term, prominent individuals and groups were already being enlisted under the umbrella of the Buhari Support Organisation (BSO) with a view to helping to set up campaign structures across the country.

The president’s lobby team is targeting to establish operational bases in the six state capitals in the South-south zone from where they would coordinate efforts to gain the desired support for the 2019 presidential election.

In what seemed like a political strategy to gain more grounds in

the South-south states, Buhari’s men are seeking to make an early in-road into the otherwise stronghold of the opposition Peoples Democratic Party (PDP).

A stalwart of the APC and a leading figure in the Pan Niger Delta Forum (PANDEF), Chief G.G. Anabs Saro-Igbe, had told THISDAY that the BSO offices had been opened for business in Calabar, Cross River State; Uyo, Akwa Ibom State, and in Benin-City, Edo State.

He said the group had also opened offices in Warri, Delta State; Yenagoa, Bayelsa State and Port Harcourt, Rivers State.

“The campaigns have not started officially but what we intend to do is to open our offices that will be used to drum support for the second term bid of President Buhari, “ he said.

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Report: Despite Challenges, 9mobile Deal will Go Ahead Teleology seeks to raise $300m bridge loan

Emma Okonji with agency report Despite the challenges from different opposition groups trying to stop the ongoing sale of 9mobile to an investment firm, Teleology Holdings, the deal is still on course and will still go ahead, according to sources.

TMT Finance reported that the 9mobile deal would still go ahead despite the challenges from opposition groups that are trying to use the court to stop the sale of 9mobile to the preferred bidder, Teleology Holdings Limited.

According to the report, some operators have been lobbying for the 9mobile case, which could end up with Teleology being auditioned in front of the House of Representative to present the viability of its project for 9mobile.

A Federal High Court had also put on hold the sale of 9mobile

following opposition to the deal by some shareholders of the company.

One of the companies said to be a shareholder in 9mobile and a plaintiff in the suit is Katsina businessman, Alhaji Dahiru Mangal.

However, sources added it would be hard to find grounds to stop the deal from happening on both of these fronts.

As for the court order, the local councils overseeing case have already given an informal approval for the deal to go ahead, sources commented.

Considering all the delays, the transaction could close late June.

The report said Teleology Holdings has hired UBS to help it raise a $300million bridge loan which will come from local banks and investors.

Teleology, it was gathered, made an offer of $301 million to acquire 9mobile, and had since paid the

$50 million NIN-refundable cash deposit to clinch its preferred bidder position for the sale of 9mobile.

The remaining amount to be paid will be raised via equity, the TMT Finance report said.

Teleology, a special purpose vehicle (SPV), was set up by Nigerian investors.

Teleology is under the stewardship of Adrian Wood, one of the past CEOs of MTN Nigeria.

Adrian Wood, an Australian-born technocrat, was the Chief Executive

The All Progressives Congress (APC) in Kaduna State has won 17 of the 23 local government chairmanship and councillor elections which were held last Saturday while the opposition Peoples Democratic Party (PDP) won in four local government areas.

The results were announced yesterday by the returning officers at the various local government area headquarters.

However, elections were suspended in Kaura and Jaba council areas following an attack on the electoral office in the area last Friday night.

In Kagarko Local Government Area, the APC polled 65,226 to defeat the PDP which got 14,658 votes, as announced by the returning officer, Chinedu Richard.

Also, in Kaduna North, Umar Hayatu was declared the APC winner having polled APC 168,572 while the PDP polled 12,467.

In Zaria Local Government Area, the APC won with 42,859 votes against PDP 16,033 votes The results from Kubau also showed that APC got 46,535 votes to defeat the PDP which polled 13,898.

Similarly, the APC won in Makarfi Local Government Area, the hometown of the former National Chairman of the PDP, Senator Ahmed Makarfi.

Other councils won by the APC included Jama’a, Soba, Kudan Lere,

Ikara, Birnin Gwari, Giwa, Kudan, Igabi, Sabon Gari and Kajuru.

The PDP won Zangon Kataf, Kauru, Kachia and Sanga Local Government Areas.

The results of Chikun and Kaduna South Local Government Areas were yet to be released at the time of this report.

Meanwhile, the PDP has kicked against the results, alleging that the process was compromised.

The state Chairman of the party, Hassan Hyat, told THISDAY in a telephone interview yesterday that the returning officers were abducted and results were not declared in many polling units.

He said: “I am aware of the results, but as far as we are concerned, the process was completely compromised.

“Yesterday (Saturday) we alerted the world that both wards and local government returning officers were kidnapped. We declared them missing.

“By the electoral law of the state, they are the people who are supposed to announce results at their respective collation centres, and they were nowhere to be seen.”

Hyat also alleged that a senior government official was sighted in Kajuru Local Government Area accompanied by soldiers.

He alleged that government official had a meeting with the returning officers at the local government secretariat.

Hyat asked: “What brought soldiers in a democratic

The Nigerian National Petroleum Corporation (NNPC) has announced the appointment of Mallam Mele Kyari, incumbent Group General Manager in charge of its Crude Oil Marketing Division,

dispensation? Where did the returning officers resurface to announce results that the government is announcing?

“We are aware by the results from our polling units’ agents, the APC did not win Lere, Sabon Gari, Kaduna North, Kaduna South and Kajuru.

“So for them to start listing the local government areas that they never won, then it is the most unfortunate thing that has ever happened.”

PDP state chairmen further noted that “all the returning officers who absconded have not returned to declare results.”

But in a reaction, the state acting Secretary of the APC, Yahaya Baba Pate, dismissed the allegations, insisting that “the election was the freest, fairest and most credible election ever conducted by a state electoral body.”

He said election observers and voters confirmed the credibility of the elections.

Pate maintained that “no returning officer was kidnapped,” adding that all results were announced at polling units.

“Results were announced at the ward level in the presence of all party agents. The APC has won in many of the local government areas.

“Collation is still going on, we are still waiting for the remaining results and we are hopeful that the APC will have a good number at the end of the day,” he said.

SERAP Drags FG to UN over Flagrant Disregard of Court Orders A civil society organisation, Socio-Economic Rights and Accountability Project (SERAP), has petitioned United Nations Special Rapporteur on the independence of judges and lawyers, Mr. Diego García-Sayán, requesting him to use his good offices to “prevail on the government of President Muhammadu Buhari to end persistent disobedience of court rulings and orders and uphold the Nigerian Constitution 1999 (as amended) and the country’s international obligations on protection of the independence and integrity of the judiciary.”

The organisation said: “Selective enforcement of court orders if not urgently addressed would ultimately put the rule of law in Nigeria under siege.”

In the petition dated May 11, 2018, and signed by SERAP Deputy Director, Timothy Adewale, the organisation said: “Persistent and apparently deliberate disobedience of court rulings by the Nigerian authorities is an affront to the supremacy of the constitution and the independence of the judiciary, and if not urgently addressed may lead to self-help and undermine the authorities’ oft-expressed commitment to

of the $50 million non-refundable cash deposit for 9mobile, announced his 10-point agenda on which the telecoms company would be managed.

Teleology, in a statement detailed an ambitious plan of action that would guide its rapid overhaul not only of the network but all aspects of the operations.

According to Wood, “9mobile is transiting into a new phase that will be defined by optimal value delivery: value to our employees,

value to our customers, value to local communities and indeed to all stakeholders.”

He added that the new organisation to emerge would be “engineering led and brand driven.” In delivering service, we will strive to ensure that 9mobile operations deliver fulfillment to our customers, empowerment to local communities, protection to the vulnerable, and excellent rewards not only to our shareholders but to all stakeholders,” Wood said

Kyari Appointed Nigeria’s OPEC Representative

APC Wins 17, PDP Four in Kaduna Council Polls John Shiklam in Kaduna

Officer of MTN Nigeria from 2002 to 2004.

In all of the opposition, Wood remained resolute and optimistic that he would deliver on promise in terms of the financial ability of Teleology to pay all monies pertaining to the acquisition of 9mobile, and in terms of the technical capability to handle 9mobile.

To set the ball rolling, Wood, in less than 24 hours after meeting the March 22 deadline for the payment

fight corruption. Protecting judicial independence is an obligation to be guaranteed and not a privilege that states may grant.”

The organisation also said: “Disobedience of court rulings also directly violates the fundamental principles of the rule of law and separation of powers. We urge you to publicly condemn disobedience of court orders by the Nigerian authorities and prevail on them to refrain from any threats or interference that may hamper court’s independence as the supreme guardian of the country’s constitution and laws.”

as Nigeria’s National Representative to the Organization of the Petroleum Exporting Countries (OPEC).

The NNPC in a statement by its Group General Manager, Group Public Affairs Division, Ndu Ughamadu, said the appointment was made by Nigeria’s Head of Delegation to the OPEC conference and the Resources and Board Chairman of NNPC, Dr. Emmanuel Ibe Kachikwu.

It noted that the position requires Kyari to lead Nigeria’s team to the OPEC Economic Commission Board which precedes the bi-annual

meetings of the OPEC ministerial conference.

The ECB reviews the global oil markets and makes input from the perspectives of the individual member countries.

The corporation further explained that M Kyari may also be required to provide any support to the Minister of State for Petroleum Resources and the OPEC Governor in the performance of Nigeria’s roles and participation in OPEC matters.

A geologist, Kyari is a quintessential crude oil marketer

with prerequisite certification and outfield pedigree in petroleum economics and crude oil and gas trading.

Within the last 26 years he has traversed the entire value chain of the petroleum industry posting resounding performance in all his assignments and duty posts.

Under his watch, the Crude Oil Marketing Division has recorded noticeable transformation in the management and sales of the various Nigeria’s crude oil grades via an infusion of transparency and automation of the processes.

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COMMENT

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

EBOLA: LET US BE PROACTIVE

Ayo Oyoze Baje argues the need to be proactive with regard to the latest outbreak of the virus in the Democratic Republic of Congo Coming at a time that Nigeria’s health workers, under the aegis of Joint Health Sector Unions (JOHESU) are on strike, the recent warning of a likely Ebola virus outbreak given by Vice-President, Prof. Yemi Osinbajo must be taken seriously by all and sundry. During last week’s meeting of the Federal Executive Council the Minister of Health, Prof. Isaac Adewole disclosed that another outbreak of the deadly virus has been recorded in a particular district of the Democratic Republic of Congo (DRC) over the past one month.

Sad to note that out of the 19 suspected cases 16 have so far died of viral haemorrhagic fever. Furthermore, it was discovered that the blood samples of two out of the five patients taken recently tested positive for Ebola virus. This vital information has informed the federal government’s directive of the surveillance of the country’s land and sea borders. What makes this worrisome are the facts that we have several porous borders, many of which are unmanned as well as the parlous health status of the country when even Mr. President is off to Britain for another medical check-up! Something urgent has to be done.

Taking proactive measures is one, as prevention is cheaper than cure. It would be recalled that I raised an alarm over a related issue through an essay titled: ‘Ebola virus-a clear and present danger!’in 2014. As at then the deadly Ebola virus had already killed 660 people across the West Africa sub-region. And it made inroads into Nigeria when a 40-year- old Liberian, Mr. Patrick Sawyer boarded a plane to the country despite having a high fever. He was said to have vomited during the ill-fated flight before dying in Lagos.

Unfortunately, he came in contact with Dr. Ameyo Stella Adadevoh.

She was the lead physician and endocrinologist at the private hospital in Lagos, who was able to diagnose, contain and resist pressure from officials to release Sawyer, in July 2014. However, because the health system was not prepared for an outbreak at the time, she contracted Ebola and died. Her heroic efforts prevented a major outbreak in the most populous African country and “served as the catalyst for successful government action�.

According to the then Minister of Health, Prof. Onyebuchi Chukwu, it was the first case of Ebola virus to be confirmed in Nigeria. Back then the virus had already hit Guinea, Liberia and Sierra Leone, infecting 1,093 people. The Ministry of Health had raised an alarm on July 22, 2014 about a suspected case of Ebola virus. It was commendable that a laboratory test was carried out on the victim at the Lagos University Teaching Hospital (LUTH) to confirm the presence of the virus and prompt action was taken to decontaminate the corpse before burial.

So, what should the government be doing right now, beyond giving out warning? It should borrow a leaf from what transpired during the Jonathan-led administration. Immediately the first case was reported the Federal Ministry of Health, working with the World Health Organisation’s (WHO) International Health Regulations ensured that global standards were upheld. Besides, all the airports and sea ports were put at red alert.

There was a proactive synergy between the Lagos State government under Mr Babatunde Raji Fashola (SAN) and the federal government, not minding political differences. There was sustained public enlightenment.

Nigerians, both at home and those travelling from the neighbouring West African countries were kept abreast of the preventive measures to take as well as the symptoms to look out for.

THE INCREASING FEAR ABOUT ITS SPREAD IS TRACEABLE TO SOME SALIENT FACTORS. ONE IS THAT OUR BORDERS ARE POROUS. INFECTED PERSONS MAY THEREFORE, FIND EASY ACCESS INTO THE COUNTRY

Not a few Nigerians got to know that so deadly is the virus that both oral rehydration therapy and provision of intravenous fluids to victims cannot mitigate its potency. The disease has a high rate of death possibly up to 90% of its helpless victims. It typically occurs in outbreaks and in tropical regions of sub-Saharan Africa. About 1000 people a year have been infected between when it was first identified in 1976 and 2012.

Ebola was first identified in the Sudan and the Democratic Republic of the Congo. Efforts are ongoing to develop a vaccine; however, none existed as at 2014.What is alarming is the increasing spread in the West African sub-region as well as the escalating wave of deaths associated with it. For instance, the only infected person in Zaire back in 1977 died recording 100 per cent. Gabon was hit in 1996 with 68 per cent casualty. In 2002, 97 out of the 124 recorded cases in the Democratic Republic of Congo died. That was 78 per cent. It was Gabon again in 2003 with 128 out of the 143, representing 90 per cent of the victims kissing the dust. In 2008, 15 out of the 32 people infected in the Democratic Republic of Congo went into their early graves. From Kibaale in Western Sudan in 2012 with 71 per cent deaths of the 24 victims, it has ravaged Guinea, Sierra Leone and Liberia hitting an average of 60 per cent deaths.

The increasing fear about its spread is traceable to some salient factors. One is that our borders are porous. Infected persons may therefore, find easy access into the country. The second reason is that of decrepit infrastructure combined with lack of qualified personnel, effective drugs, state-of-the art equipment in many clinics and hospitals across the country. Another source of anxiety is that of self-medication amongst a largely rural populace where the twin evils of poverty and ignorance prevail.

And looking at the symptoms, from all available records, Ebola virus disease (EVD) or Ebola haemorrhagic fever (EHF) is the human disease caused by Ebola viruses. Symptoms start two days to three weeks after contracting the virus with a fever, throat and muscle pains, as well as headaches. Next comes nausea, vomiting and diarrhoea simultaneously with decreased functioning of the liver and kidneys. At this point some people begin to have problems with bleeding.

Monkeys and fruit bats are the vectors that carry and transmit this deadly virus. Any contact with their blood or body fluid leads to infection. It is intriguing that the fruit bat which carries the virus is not affected by its potency! Once infected the disease may be spread from one person to another. Men who survive may be able to transmit the disease sexually for nearly two months.

According to information from Wikipedia, “prevention involves decreasing the spread of the disease from infected monkeys and pigs to humans. This may be done by checking these animals for infection and killing and properly disposing of the bodies if the disease is discovered.

Properly cooking meat and wearing protective clothing when handling meat may be helpful, as wearing protective clothing and washing hands when around someone sick with the disease. Samples from people with the disease should be handled with an extra degree of caution.�

For now, government must be pro-active in ensuring that Nigerians are made aware of the dangers posed by this virus, its symptoms and preventive measures even in the local languages.

BETWEEN THE EXECUTIVE AND THE LEGISLATURE Respect for the legislature is the cornerstone of democracy, writes Chukwuka Utazi

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ne basic concept of modern democracy is derived from the theory of separation of powers as propounded by Baron Montesquieu.

This theory has been assumed to be the cornerstone principle of democracy in the last three centuries. To have an efficient government in a democracy, whether it is presidential or parliamentary, the three arms of government - executive, legislature and judiciary must have a harmonious working relationship while maintaining their institutional independence. They must observe the principle of mutual respect and non-interference in their workings and follow the provision of the constitution in their day- to- day activities.

For this to happen, the executive, which controls the coercive instrument of violence of the state must believe in the rule of law and have respect for due process. Such will secure a good working and collaborative relationship with the legislature.

It must shun interference and meddlesomeness in the affairs of the law-making body. The executive should learn to respect legislative independence and adopt a neutral stance on the internal workings of the legislative arm in accordance with constitutional prescriptions; it must be ready to cultivate and work with the legislative leadership, even if the president does not like their persons. That is the requirement of the constitution and the tradition of democratic practice.

While the presidential system of government has separation of powers as one of its cardinal principles, it does not mean that the arms of govern-

ment should work at cross purposes. The executive and legislature are not in competition; they are not in a battle for supremacy. Both arms are messengers to bring democratic good to the people.

Necessarily, there will be conflicts and disagreements. However, disagreements between the executive and legislature do not amount to a fight; they are vital ingredients for strengthening democracy. Such friction is necessary for the survival of democracy, because allowing excess power in one direction will breed tyranny as well as misuse and abuse of power. Perceptions may differ on issues but national interest must be collective and overriding.

The legislature is the most representative of the will of the people and that is why it is fundamental, and in the interest of the continued practice of democracy, that it is allowed unfettered ambit to exercise its powers. A decision reached in the parliament is the consensus of the ruling and the opposition parties. In the parliament, all those involved in a decision have the mandate of their people and they come with different views and ideas. Once the views are collated, they represent the overall interest of the nation. On the other hand, when a decision is reached in the executive, it is the decision of the party in government.

In the 16 years that the Peoples Democratic Party controlled the legislature, there have been disagreements, serious disagreements between the executive and the legislature. But the institution of the legislature was not assailed as it is happening now; where the instrument of authority of the legislature is violated in broad day light by hoodlums, and yet the executive does nothing in terms of law enforce-

ment; where there is persistent actions to intimidate the legislature and persons in positions of authority in the executive flagrantly flout legislative summons.

These actions are a danger to our democracy.

A very serious attempt was made in 2001 to impeach the president, forcing the president to publicly defend his actions and decisions. That is a credit to democracy. There has been conflict on the appointment of Service Chiefs without the approval of the Senate as required by law. President Olusegun Obasanjo had tried to amend laws, claiming it came under his powers to modify existing laws to bring them in conformity with the constitution, and had clashed with the legislature over that. He had clashed with the legislature on the contract sum of the National Stadium in Abuja, and the contract for National Identity cards project, and those were sorted out by democratic means. Individual members of the legislature were not singled out for molestation. When a former president employed various subterfuges to try to amend the constitution to secure a third term in office, it was a majority PDP Senate and House that voted it down. That is the legislature, speaking the minds of the people.

That was institutional independence and integrity.

So when the legislature and the executive disagree, even if robustly, it is democracy in action.

No arm should therefore, because it controls the instrument of legitimate violence, deploy such to prevent the other arm from exercising its constitutional responsibilities. This National Assembly has voiced its dissonance of some executive actions but allowed them to be in the understanding that democracy is work in progress. When President

Buhari refused to comply with section 18 of the Armed Forces Act, which provides that service chiefs must be confirmed by the National Assembly before they can assume office, this assembly pointed it out and let it be. When President Buhari deployed war planes and Nigerian troops to Gambia in January 2017 without the constitutionally required approval of the National Assembly, we pointed it out but let it be, countenancing the larger interest of peace and security in the West African sub region.

The constitution and their establishment laws require Senate confirmation of their appointment as a condition precedent to the resumption of the chief executives of some bodies, like PENCOM, CCB, FERMA, NHRC, LOTTERY COMMISSION, FIRS, etc., but the executive had recklessly encouraged them to resume before Senate confirmation. This assembly pointed these anomalies out but did not bring down the roof on our democracy.

This executive breached the federal character principle enshrined in the nation’s constitution when it appointed persons from one part of the country to overwhelmingly dominate the security hierarchy of the country. It carried out the illegal and brazen invasion of the residences of Justices of Superior courts of record over allegations that have remained unproven.

Recently, the executive approved and paid for the procurement of 12 Super Tucano Helicopters to the tune of $496 million. While we realise the good intentions behind the procurement, the point is that laws are the bedrock for societal order.

Senator Utazi is Chairman, Senate Committee on Anti-Corruption and Financial Crimes

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T H I S D AY MONDAY, MAY 14, 2018

EDITORIAL MINIMUM WAGE FOR WORKERS States must be allowed to fix their minimum wages in line with their financial ability

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onsultations are ongoing across the country on the national minimum wage for workers. A tripartite committee, headed by former Head of Service of the Federation, Ms Ama Pepple, was inaugurated late last year

by President Muhammadu Buhari for the negotiation. The exercise is to ascertain the needs of Nigerian workers and employers and reach a mutually acceptable minimum wage.

It is instructive that after meeting with the committee last month, the Nigerian Labour Congress (NLC) canvassed N66,000 for consideration as the new minimum salary for the least paid worker to reflect the current economic realities. The organised labour also wanted a quick fix implementation to the timeline by the tripartite committee to mitigate a nationwide industrial unrest. The federal government has already promised to start implementing a new minimum wage in the third quarter of the year after the proposal might have been approved.

One of the grounds often advanced to support review of wages is that BOTH THE FEDERAL the Nigerian workGOVERNMENT AND THE force is comparatively STATES SHOULD PUT in the category of the IN PLACE TEAMS OF least paid workers SERIOUS NEGOTIATORS in Africa. So pitiable WHO UNDERSTAND THE is the take home ISSUES AND CAN LOOK AT salary of a Nigerian THE NUMBERS BEFORE worker that it pales in MAKING THE USUAL comparison to what COMMITMENTS THAT ARE workers in Ghana, MOST OFTEN DIFFICULT TO Kenya, South Africa IMPLEMENT and Angola earn in the salary equation.

The current minimum wage of N18,000 ($50) per month that became effective in 2011 is definitely not enough to enable any worker live a decent life.

While this low remuneration results in low productivity, we always make wrong assumption in this climes that minimum wage should be uniform across all the states, without isolating the peculiarity

Letters to the Editor

and operating environment of each state. Every nation fixes the minimum wage for workers in the public and private sectors. In principle, however, given the lowly internally generated revenue (IGR) by most states, it is apparent that only a few of them are viable and can comfortably pay the minimum wage.

Therefore, whatever may be the conclusion reached, states must be allowed to fix their separate minimum wages in line with their financial ability. We are also concerned about the large number of idle workers on the pay roll who, like leeches, feed fat on scant resources. State governments should be at liberty to reduce bloated workforce and retain only those that are productive. Also there is need to reflect on some of the cadres of workers in the civil service that are superfluous. For instance, of what value and relevance is enrolling typists on the payroll in this computer age?

What is the essence of having as many as 20 drivers in a government agency that has no operational vehicles for them to drive?

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T H I S DAY EDITOR IJEOMA NWOGWUGWU DEPUTY EDITORS BOLAJI ADEBIYI, JOSEPH USHIGIALE MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR KAYODE KOMOLAFE CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN

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

s things stand today, our civil service is more or less reduced to a social welfare programme.

Workers in some states don’t have offices while a significant number of those that go to work spend productive office hours, either gossiping or watching Nollywood and Zeeworld series. Yet, the NLC, Trade Union Congress (TUC) and their affiliates have also refused to allow minimum wage to be taken off the exclusive list. That is because they want to have control of workers’ check off dues.

In a democratic environment, such threats like “no work, no pay” that some employers in the public sector, including states, often tout whenever they are confronted with labour unrest arising from the issue of remunerations do not work. Therefore, the only enduring solution is for both the federal government and the authorities in the 36 states to put in place teams of serious negotiators who understand the issues and can look at the numbers before making the usual commitments to labour that are most often very difficult to implement. We hope the Pepple committee will succeed where others before them failed.

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

ECONOMIC ADVANTAGES OF OCCUPATIONAL HEALTH AND SAFETY

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n his book, The Wealth of Nations (1776), Adam Smith suggested that workers’ wages vary according to the work conditions that such worker experiences. This assertion indicates that there is a valuation for risks. When workers accept jobs, they accept all the characteristics, including the associated risks. Therefore, jobs with identified attendant risks make provision for this in the wages they offer.

However, in today’s workplace, employers’ awareness and actions are increasingly being directed to making optimal investments in Occupational Health and Safety (OHS), in order to reduce and prevent the risk factors. This approach promotes the health, safety and wellbeing of their employees and is also cost-saving to employers.

According to the International Labour Organisation (ILO), “Health and safety at work is aimed at promoting and maintaining the highest degree of physical, mental and social wellbeing of workers in all occupations; the reduction of workers leaving work due to health problems caused by their working conditions, among other things.”

To further entrench this principle, April 28, 2018 is commemorated as the World Day for Safety and Health at Work, otherwise known as SafeDay. The day is set aside as part of an annual international campaign led by the ILO to draw global attention to the urgent need to promote safe, healthy and decent work through advocacy in terms of minimising accidents and diseases arising from the work people do.

In Nigeria the level of sensitisation/awareness on occupational health and safety is still low. While a few multinational FMCGs and oil companies are conscious of the practice, the same thing cannot be said of most indigenous establishments. The informal private sector,

particularly artisans such as plumbers, mechanics, hairdressers, etc., who are the most vulnerable ones, are completely left out.

The impact of occupational health and safety in an organisation cannot be overemphasised. As the human resource is the most important factor in any organisation, employees must be healthy, both physically and emotionally to ensure optimal performance.

Health and safety must be given the priority it deserves if an organisation must achieve its corporate goals. When the workforce of any organisation is exposed to accidents and diseases, the organisation will experience numerous forms of disruptions arising from absenteeism, low staff morale and consequently low productivity both in quality and volume. Naturally, the situation will extend to other critical issues like loss arising from rework, increased periods of downturn, high cost of medication, cost of litigation and loss of reputation.

Therefore, organisations must recognise the pivotal role of a healthy workforce and understand that the human capital is at the heart of its operations. They must learn to build capacity in environmental health safety and to comply with necessary safety procedures.

On its part, government must take the lead by setting the agenda; the starting point being strong regulation and enforcement by the appropriate government agencies. They must also drive the change towards greater awareness and adherence to improved occupational health and workplace safety.

An interesting angle to this year’s commemoration of the World Day for Safety and Health at Work is the theme: ‘Generation Safe and Healthy’. This theme, apart from seeking to improve the safety and health of young workers, also lends support to international efforts to

end child labour (annually commemorated on June 12 as the World Day Against Child Labour). Particularly in developing countries, poverty is a major reason why children engage in work to help support their families financially.

Some of the companies that have set the bar with respect to occupational health safety (OHS) include Guinness Nigeria, British American Tobacco Nigeria (BATN), Coca-Cola, among others. These corporate organisations are committed to the safety and wellbeing of their staff and stakeholders and boast of Environmental Health and Safety (EHS) policies that conform to global best practices.

Guinness Nigeria has a zero-harm philosophy which is aimed at eliminating workplace accidents and safety for staff. The company strives to create and maintain a safe working environment for all its employees. Its safety agenda is underpinned by the parent company, Diageo’s, global zero harm programme, which is premised on four pillars: prevention, compliance, capability and culture.

For BATN, EHS is a way of life. Safety consciousness is constantly instilled in the minds of staff and visitors at the company’s factory and offices. It is not surprising, therefore, that the company, in its first participation in 2016, won the ‘Best Kept Industrial Premises’ award instituted by the Manufacturers Association of Nigeria (MAN). The annual award, which is open to manufacturing companies, including food and beverage manufacturers in the large, medium and smallscale categories, promotes best practices in the maintenance of clean and safe work environments among manufacturers in the country.

Goke Adetiloye is a consultant on industrial safety management based in Lagos

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POLITICS

Group Politics Editor Tobi Soniyi Email tobi.soniyi@thisdaylive.com 08033146139 SMS ONLY

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

APC Plunges into Chaos With the crisis rocking the ruling All Progressives Congress in virtually all the states, will the party formed to oust Dr Goodluck Jonathan as president survive this latest onslaught, Tobi Soniyi, Segun James and Shola Oyeyipo ask

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n the Beginning For the All Progressives Congress, these are not the best of times.

In an interview with THISDAY, Dr Umar Ardo, a former governorship aspirant in Adamawa State on the platform of the Peoples Democratic Party but chose to work for the election of Muhammadu Buhari in 2015 said: “Just wait for the congress of APC. They’ll break into three with one faction coming into PDP, one will remain with Buhari and the other will remain independent. That will be the end of APC and the party will suffer a crushing defeat.”

Everyday, APC appears to be racing towards the above prediction.

For long, the party remained combustible.

The crisis now rocking the party is traceable to how APC came to be. It was a gang up against the Peoples Democratic Party formed with the sole purpose of stopping Dr Goodluck Jonathan from retaining power.

Four political parties namely: Action Congress of Nigeria (ACN) which was dominant in the south-west, the Congress for Progressive Change (CPC), headed by former military ruler Muhammadu Buhari, as well as the All Nigeria People’s Party (ANPP) and a faction of the All Progressive Grand Alliance (APGA).

After the merger, former Foreign Affairs Minister, Chief Tom Ikimi read a joint statement signed by the merging parties. He said then: “At no time in our national life has radical change become more urgent.” Ikimi was of the ACN then.

“And to meet the challenge of that change, we.... have resolved to merge forthwith and become the All Progressive Congress.”

As the past three years have shown, beyond the plan to stop Jonathan, and some ideas hurriedly put together to persuade the electorate to support the new party, the four parties that merged had nothing in common.

That lack of unity of purpose is at the core of the crisis threatening the party today.

The President Didn’t Help When Muhammadu Buhari became the president, he quickly alienated the political interests that coalesced to get him the power.

He also failed to unite the party. He failed to encourage the holding of statutory meetings of the party thereby denying members the opportunity to air their grievances and the party the opportunity to address those grievances.

The result is that members bottled up their anger and waited for opportunity to explode.

The congresses provided them with a perfect opportunity. Today, the party’s leadership must e regretting the decision to overturn the one-yea extension granted all the party executives.

Aside from the failings of the president, the battle to control the party at the national level has been fierce. This pitted the National Leader of the party, Chief Bola Tinubu and the party’s National Chairman, Chief John Odigie-Oyegun and their loyalists against each other. The story is not different at the state level.

Last Friday, the nation was treated to an orgy of violence and wanton destruction of public properties when suspected thugs broke into a high court in Port Harcourt, Rivers state capital, chasing away lawyers, judges and litigants.

The senator representing Rivers south-east, Magnus Abe had gone to seek a court order to restrain the faction under the Minister of Transportation, Rotimi Amaechi from holding the local government congress of the party on Saturday.

The motion followed a controversial ward congress held on May 5. Abe had alleged that there was no congress across the 319 wards

Just wait for the congress of APC. They’ll break into three with one faction coming into PDP, one will remain with Buhari and the other will remain independent

Rabiu Kwankwaso

Chibuike Rotimi Amaechi

in the state but Amaechi said the exercise held peacefully.

While appearing in court, Abe was resisted by suspected thugs, who reportedly fired gunshots randomly to deny him access to the courthouse.

The intruders vandalised vehicles in the court

premises and locked up the main gate of the court before leaving.

After the police had taken control of the situation, Justice Chiwendu Nwaogu, granted the order restraining the APC in the state from holding the council congress. The said the

order would not be obeyed. For a party that is in opposition to be in such a disarray, it will take a miracle to win the state during the next general election.

Before the mayhem in Rivers, APC’s secretariat in Imo State had been set ablaze. A week earlier, the same office was vandalized during the controversial ward congress of the party.

The Governor of Imo State, Rochas Okorocha, irked members of the party after he endorsed his son in law Uche Nwosu, to replace him in 2019.

He was carefully edged out during the ward congress. The governor has since complained publicly about the outcome of the congress saying that he was sidelined because he refused to support the party’s national chairman. The governor said that no congress took place in the state, accusing the congress committee of hijacking materials for the said congress.

Many office equipment and important files and documents were reportedly destroyed in the fire.

The APC chairman in Imo, Hilary Eke, who confirmed the fire, said the fire was deliberately lit by some unidentified persons who attacked the secretariat at about 6.30 p.m.

“I have already petitioned the inspector General of Police over the attack on the secretariat the other Saturday. My duty is to report to the police and the police have the duty to investigate,” he said.

The story from Anambra is equally not very palatable. Former governor and Minister of Labour and Employment, Dr. Chris Ngige, narrowly escaped being lynched.

He was attending a stakeholders’ meeting of the APC in a hotel in Awka with the view to harmonise the results of the party’s ward congress when aggrieved members and thugs struck.

Ngige narrowly escaped. He was whisked away by security operatives who fired into the air to scare away the mob who charged at him. The allegation against him was that the meeting, called at his behest, was to manipulate the result of the ward congress in his favour.

The Anambra APC candidate in the November 18, 2017 governorship election, Dr Tony Nwoye, had accused Ngige of plotting to hijack the party in the state.

In Ekiti State, the acrimonious primary to select the party’s governorship candidate for the state showed the level of desperation among those who claim they want to serve their people.

Little wonder it ended in chaos.

Armed men and demonstrators disrupted the process. Ballot boxes were smashed and ballot papers torn and voting was suspended. Even CONT’D ON NEXT PAGE

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T H I S D AY • MONDAY, MAY 14, 2018

PERSPECTIVE

A Note of Gratitude to Shettima Isa Gusau, the Special Adviser, Communications and Strategy to Borno State governor, Kashim Shettima, expresses his gratitude to his boss rare gesture

R

ecently, I took an extreme decision, an unusual one that seemed beyond the pardon of my boss, Governor Kashim Shettima.

Growing up, I realized possibilities of inherent strength in journalism and potentials for public relations and advertising. Our late father, founded these potentials. As a child, he would task me with writing letters. He normally gave only themes letting me compose countless number of letters in my words and styles.

A circumstance (surrounded by a long story) led me to studying in Kaduna Polytechnic as against my original plan of going to a particular University. However, being in Kaduna Polytechnic for OND and HND in Mass Communication, the course I ever wanted, gave me the kind foundation I needed. There, I was exposed to journalism in very practical ways. We were sent to the field including markets, court rooms and the streets for interviews, news reports and writing features. We produced a weekly magazine, produced and presented radio and TV programmes, including documentaries.

We were also introduced to aspects of public relations and advertising. It was really tough combining these practicals with handling of 10 to 12 theoretical subjects every semester. After leaving Kaduna Polytechnic, I went straight to practising journalism. During postings to Borno and Yobe states as correspondent, I enrolled for PGD and Masters Degree in the University of Maiduguri while still reporting.

My career as a journalist became truncated (positively, I should say) in early 2012, when Governor of Borno State, Kashim Shettima appointed me as his Special Adviser on Media and Publicity. The appointment came the same week I was promoted to the rank of Deputy Editor at Daily Trust. Working with Governor Shettima in over six years (so far) changed me from being a certificated journalist to an un-certificated public relations practitioner. I was worried about that. With those years in absentia, a return to journalism would make me seem out of place. I made a decision to pursue a career in public relations but I needed to become certificated. All over the world,

Shettima. from Europe to the United States, majority of public relations practitioners were journalists.

I decided to study public relations but to do that, I needed to be out of Borno State since neither the University of Maiduguri nor any of its neighbours offer that course. And for a very good reason, I wanted a Bachelors Degree rather than another Masters. An undergraduate programme meant relocating to another environment as a full time student. Returning to a phase I had undergone nearly 20 years ago. Nevertheless, I needed to go while I still could. Man-pikin don dey old! After the 2015 reelection and my reappointment, we began to deal with so much mischief from political opponents. They used different media channels.

Online, in particular. The challenge continued till end of 2016. It wasn’t right for me to leave my boss under the circumstance.

The year 2017 presented the right time.

Political opponents had been silenced by well coordinated responses, preemptive measures and more importantly, glaring evidences of Governor Shettima’s too many projects in rebuilding of communities and new infrastructures, particularly schools and hospitals. Opponents had nothing else to say. No pressure. I was in the right frame of mind and it was time to move on.

Using my HND result, which happened to be a good one, I secured admission as direct entry student into Year 3 at Middlesex University in London. Year 3 is final year in UK’s undergraduate university system. Most UK universities give direct entry admissions into Year 3 or 2, for what they call ‘top-up’. Admissions however depend on reviews of previous school’s syllabus, classification of HND results, transcript of scores in relevant subjects and points recorded by

applicants after credibility assessments. My admission was for bachelors degree in Public Relations, Advertising and Media. Only that university offered such unique combination in the faculty of arts and creative industries for which I had gone ahead to pay tuition.

I ruled out the thought of temporarily relocating to London and retaining my job. It wasn’t just selfish, but perhaps crazy for spokesman to a Governor to consider both. I had to resign. It wasn’t what I wanted but it was the right thing to do. Replacing me wasn’t going to be impossible.

I have never believed in the illusion that any human being is indispensable. Presidents and Governors die in offices and their societies still move on, sometimes, even better. If those who appoint you aren’t that indispensable, what more of you? Moreover, Governor Shettima is about the smartest of all of us working with him. The guy is super intelligent and strong.

I mean those words. I quietly sent a message to the Governor, thanking him for the great opportunity to serve and informing him of my decision to resign and relocate for my studies.

I explained, and he understood how important the school was for me. He also understood personal reasons why I couldn’t wait longer.

Governor Shettima was disappointed in my thinking. He reminded me of the days in 2013, when Boko Haram members repeatedly called my phone, threatening to eliminate me for promoting him and the administration. Then, he said, ‘Malam Isa, you have paid your dues. If you think you have to resign because I can’t be generous enough to allow you go to school, it means you don’t know me. You will not resign.

You will operate from London. I will support you while you are there and I will also support your family’.

Governor Shettima did more than he promised.

He even visited my kids while I was away and kept in touch all through.

Last week I graduated and also became a member of UK’s Chartered Institute of Public Relations. My deepest and eternal gratitude to an extraordinary man.

Gusau is Special Adviser on Communications and Strategy to Governor Shettima.

APC PLUNGES INTO CHAOS though the rescheduled primary produced former governor, Kayode Fayemi as the winner, the process has already been tainted by the violence marked the first primary and withdrawal of other candidates who said the process was flawed.

While announcing his decision to withdraw from the primary, one of the contestants, Babafemi Ojudu accused the National Chairman of the party Odigie-Oyegun, of conspiring against the people of Ekiti State to foist an unacceptable candidate on them.

The former senator who represented Ekiti Central between 2011 and 2015, said he was embarrassed by the events leading to the aborted primary.

In Lagos, Ogun, Oyo and Ondo states, APC is in crisis. As the general elections draw closer, these crises will deepen further and make winning elections difficult for the party.

Up north, APC is a fractured political party.

In Kaduna, there are at least three factions of the party. In February, a building used by one of the factions was demolished by the state government. Senator Suleiman Hankuyi, the owner of the demolished building alleged that the state governor Nasir -el Rufai personally drove a bulldozer accompanied by armoured tanks to destroy the house located ayt118 Sambo Road. The governor and Hankuyi belonged to different factions of the party in Kaduna State.

The governor and another Kaduna senator, Shehu Sani have been at loggerheads.

The national headquarters of the party set up a committee led by a former Ekiti State governor, Segun Oni to resolve the crisis in Kaduna. However, it does not appear that the waring factions want to sheath their swords.

Recently, all the three senators in the state opposed the $350m foreign loans applied for by the state governor.

In Kano, the quarrel between the state governor, Abdullahi Ganduje and his former boss, Rabiu Musa Kwankwaso will make the state that gave Buhari the highest votes an easy target for the opposition. Well meaning individuals, organizations and the leadership of the party had intervened to reconcile the two but all efforts have so far failed to yield results.

The intervention of the national leadership of the party which led to the removal of the Alhaji Umar Haruna Doguwa as the state’s chairman of the party before the expiration of his time and his replacement with a Ganduje loyalist as a caretaker chairman, further alienated Kwankwaso’s supporters. With both sides ready to do battle with each other, the party may be in for a big loss in Kano.

From Katsina to Zamfara states, the struggle for the soul of the party is intense. While the party in Katsina has managed to put things under control, Zamfara remains volatile.

New PDP Serves Notice While most of the other states, except a few, are all battling with the aftermath of the wars congresses and face risks of more divisions at the council and the state level, the APC faces yet another potential challenge. The defunct new Peoples Democratic Party (nPDP), which blended into the APC before the 2015 general election, is threatening to pull out of the party.

It was gathered that members of that group had written President Muhammdu Buhari and the party leadership alleging marginalisation and

expressing their dissatisfaction with the status quo. After the congresses, across the country, which left many party loyalists aggrieved, they issued a threat to leave.

While it is yet unclear how the APC leadership hopes to handle the situation, it is rather curious that former Governor of Osun State and who coordinated the Coalition for Nigeria Movement (CNM), Prince Olagunsoye Oyinlola, has formally resigned from the APC. He had also announced the fusion of the movement with the African Democratic Congress (ADC). Oyinlola was the National Secretary, nPDP. He was once the PDP National Secretary too.

Opposition Watching As the APC crisis unravels, the main opposition party is not just sitting by. It is reaching out to those who left the party to join APC to return home.

PDP, in a statement by its National Publicity Secretary, Kola Ologbondiyan, said it had addressed many of the issues raised against it by a former president, Olusegun Obasanjo.

Ologbondiyan said that new reforms and rebranding efforts had returned PDP to the much-desired political platform that would represent aspirations of all Nigerians, ahead of the 2019 general elections.

These reforms, according to him, were particularly the full entrenchment of internal democracy, all-inclusiveness and re-engineered mechanisms for good governance.

“In the last five months, since the coming of the new leadership, under Prince Uche Secondus, the PDP had undergone extensive re-engineering in direct responses to suggestions, criticisms

and wide-range of constructive counsels from Nigerians across board.

“The transparent processes, leading to the peaceful conduct of an open, credible, free and fair governorship primary in Ekiti State.

“This is at a time when other political parties are enmeshed in impunity-induced crisis and violence is a loud testimony of the democratic credentials and principles of the repositioned PDP.’’ He added that the reconciliatory efforts of the Governor Seriake Dickson-led committee, and other efforts at rebuilding the party, through its contact and integration committee, were already yielding results.

“Our party remains the only political platform with genuine followership and structure in all the electoral wards across the local government areas, states and the six geo-political zones in the country.

“It is also instructive to add that majority of Nigerians still identify with the PDP as the vehicle for national cohesion, unity, economic prosperity and personal freedom of our citizens.

Ologbondiyan said the PDP’s initiative towards the nation’s economic recovery had commenced with the development of a robust and all-inclusive blueprint that would reopen the “currently locked-down economic space.’’

According to him, the repositioned PDP remains the best channel for the coalition of true democrats, who are desirous of removing the incompetent Buhari Presidency from Aso Rock, through the ballot, come 2019.

Except the APC puts this race to destruction on a reverse gear, sooner than later, people will heed the call by PDP.

20

MONDAY, MAY 14, 2018 • T H I S D AY

FEATURES

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

The Killing Fields in Birnin Gwari John Shiklam writes on the unending killings in Birnin Gwari Local Government Area of Kaduna State and why it has been difficult for the security agencies to crush the culprits behind the massacres

Village head of Gwaska, Isa Musa (right), briefing Governor Nasir el-Rufai (left) about the killings when the governor visited the community...recently

G

waska, a community in Birnin Gwari Local Government Area of Kaduna State, was one of the latest victims of the spate of killings across Nigeria.

Indeed Birnin Gwari, is on the killing fields with people being killed virtually every week by armed bandits.

On Saturday May 5, 2018, the hoodlums invaded the village killing over 70 people.

The gunmen, according to the community leader, Isa Musa, were many and were carrying very sophisticated weapons.

Ironically, the attack took place two days after the Inspector General of Police (IGP), Ibrahim Idris, the General Officer Commanding (GOC) 1 Division, Nigerian Army, Kaduna, Major Gen. Mohammed Mohammed visited Birnin Gwari.

Musa said the bandits arrived the village in day light - about 2:30p.m. and encircled the village.

“They came from different directions and encircled us, then they started shooting and burning our houses with impunity,” Musa told Governor Nasir el-Rufai who visited the community to commiserate with the people.

The local vigilante group in the village was said to have put up a spirited effort to protect the community from the bandits, but they fell to the superior fire power of the hoodlums.

Like most communities across the country, Birnin Gwari depends largely on vigilante groups because of inadequate security

personnel and the difficult terrain of the

Indeed Birnin Gwari, is on the killing fields with people being killed virtually every week by armed bandits. On Saturday May 5, 2018, the hoodlums invaded the village killing over 70 people. The gunmen, according to the community leader, Isa Musa, were many and were carrying very sophisticated weapons

area.

Most of those killed during the attack, were said to be members of the vigilante as well as women and children who could not escape.

Several other people sustained injuries from gunshots.

Findings revealed that since the beginning of this year, more than 300 people have been killed in the area.

The persistent killings, armed robbery, kidnapping and rape in the area, has paralysed economic and social life of people in the area.

Almost every week, people were being killed or robbed in the area.

Many people have abandoned their farms for fear of being killed or kidnapped, while going to the market is a risky venture.

Many markets and schools in the area are said to have been closed down as a result of the deadly activities of hoodlums.

It was gathered that the current rate of killing was sparked off by the killing of one of the leaders of a rival group of the bandits called Buharin Daji.

He was said to have been tricked and killed by a rival group in the boundary between Dansadau in Zamfara State and Birnin Gwari.

Since then, a reign of terror pervades as the bandits unleashed mayhem on the people. Every aspect of life - religious, political, health, economic, has been impacted negatively.

THISDAY findings revealed that the

bandits are exploiting the bad state of the road to attack and kill people.

Because of the seeming inability of the government to contain the situation, the Emir of Birnin Gwari, Mallam Zubairu Jibril, in a recent interview with one of the national dailies, urged the people of the area to defend themselves against the bandits.

Even security personnel have not been spared by the rampaging hoodlums who killed 11 soldiers deployed to the area on March 22, 2018.

The traditional ruler noted that for over 20 years, armed bandits have been terrorising his domain and applauded decisions by President Muhammadu Buhari to establish a military battalion and an area command of the police in the area.

Also commenting on the issue, a resident of Birnin Gwari Mohammed Aliyu, raised the alarm over impending hunger and poverty in the area as farming and other economic activities in the area have stopped for fear entertained by farmers of being killed by gunmen.

He lamented that whenever soldiers were deployed to tackle the security problems facing the area life was made so difficult.

“In the night, we don’t feel safe, in the day time we don’t feel safe. We are living in fear and uncertainty. They attack at any time of the day,” he said. He said the security personnel posted to the area seemed to be overwhelmed by the activities of the bandits.

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• T H I S D AY MONDAY, MAY 14, 2018

FEATURES But Governor el-Rufai, assured the people that his administration was doing everything possible to tackle the situation.

Speaking during the visit to the village, the governor said everything was being done to find a permanent solution to the problem.

"I want to say again, that we are not sleeping and by the grace of God we will overcome this evil act and the terrorism being unleashed on our people," the governor said.

He also promised that government will assist in rebuilding the affected communities and urged them to continue to be lawabiding.

President Buhari has also ordered the immediate establishment of a military battalion and a police area command in Birnin Gwari to bring an end to the security challenges.

One of the greatest security challenges in the area is the expansive Kamuku, Kuyambana and Falgore forests The forests which are bordering Kaduna, Kebbi, Katsina, Sokoto, Niger and Zamfara states, are so large that the bandits are said to have established so many camps inside.

Part of the forest is said to be a national park which was abandoned by the federal government.

The hoodlums are said to have settled there because they know nobody would want to destroy the park.

A security source said the gunmen hide there and only come into town to buy food stuff in disguise and go back.

They come out of the forest when they want to kill people.

The difficult terrain of the area also makes it impossible for security personnel to respond promptly to any emergency situation. This is in addition to the bad state of roads in the area. For instance, the road from Kaduna to Birnin Gwari Town is in a terrible state of dilapidation.

In 2015, governors of the six states bordering the forest sponsored military operations that lasted for six months as part of efforts to flush out the hoodlums. But as soon as the operation was over, the bandits returned to the forest.

At one of the meetings of the Northern States Governors Forum (NSGF) last year in Kaduna, Governor Nasir el-Rufai advocated that governors of the North-west region should approach the federal government with a proposal for the handing over of the Kamuku, Kuyambana and Falgore forests for them to manage. El-Rufai said in view of the high level of crime across the forests, it may be prudent for the states to manage them rather than leaving it in the hands of the federal government.

He said: “For such efforts to be credible and sustainable, the state must vigorously reclaim its prerogatives as the guarantor of security. “Robust actions in the security sector must be undertaken quickly to implant a visible, reassuring and effective presence of the protective hand of the state across our region,” he said. According to el-Rufai, “the forests constitute sources of perils to ordinary people, the states and the country.”

He noted that after the bitter experience with Boko Haram, it will be a mistake to allow the emergence of new Sambisa in the forests, which he said provide safe refuge for outlaws and have become the headquarters for robberies, kidnappings and cattle rustling.

“What is proposed is that we continue to jointly fund special security operations to sanitise these spaces, which must now be accompanied with a development agenda to convert them from areas of insecurity to places that are properly integrated into the economy,” el-Rufai said.

A top security official who pleaded anonymity however maintained that unless the challenges facing security personnel in fighting criminals are addressed, very little success would be made in flushing the gunmen out. He said even the establishment of the military battalion in the area will not make any much impact without providing the necessary equipment for crime fighting.

Enumerating the challenges facing security personnel, he said security agencies, especially the army and the police have no vehicles that are suitable for the Birnin Gwari terrain. “Security agencies don’t have terrain suitable vehicles so how do you go into a large forest? The bandits

Ruins of houses set ablaze by the bandits

Ruins of houses set ablaze by the bandits

Kaduna State governor, Nasir el-Rufai (left) and the Emir of Birnin Gwari, Mallam Zubairu Jibrin, praying for the repose of the souls of those killed

operate on motorbikes. “The Birnin Gwari area is surrounded by thick forest which were hitherto forest reserves abandoned by the federal government.

“There is inadequacy of modern internal security equipment, inadequate manpower due to the security challenges across the country. The forests are difficult to access, troops cannot access them,” he said.

According to him, “the terrain has proved attractive to bandits and criminals, particularly the Boko Haram insurgents.”

He added further that “the only possible means of traversing these terrains are by the use of motorbike, but the disadvantage there is the noise pollution, especially in carrying out operations. This will expose troops to danger.

“We suggest a possible airstrike of this inaccessible forest. This will force the bandits

Even security personnel have not been spared by the rampaging hoodlums who killed 11 soldiers deployed to the area on March 22, 2018

to come out. But there is need for deliberate use of air power as it will be necessary to tackle the issue of collateral damage.

“So help us draw the attention of those in authority on the need for terrain suitable vehicles in addition to modern military and police equipment that will enhance operations,” he said Besides, he decried a situation where security operations are time bound, saying it does not augur well.

He said: “We need to have a permanent solution or long lasting operations that can stand the test of time. Not an operation of two or three months and the army leaves.”

According to him, “the challenges are so much that the army has become first respondent. Somebody is kidnapped and the military is called in, robbery is taking place, they will call the military.

“We need to look into the framework of security architecture that ensures that we are all there when the need arises so that we checkmate the issue.”

The source noted that “sometimes the criminals are arrested and taken to court, only to be freed by the courts. The legal system must be checked. As long as we don’t have a judicial system that ensures speedy trials for armed banditry, kidnapping etc, we will continue to have criminals back on the streets.

“The issue of delay syndrome, people get information, rather than give it to the man on the ground, you carry it to DSS, DSS will carry it to Abuja, then they will still send it back to you on the ground.

At the end of the day, we are talking of time sensitive issue. By the time we are taken there, we are reacting.

“I will give you an example of an incident that happened. A letter requiring urgent reply was conveyed for immediate action to be taken to stop crime, the reply of the letter came five days after! So how do you prevent crime with such attitude?

“The communication gap is not helping matters in tackling urgent security issues,” the source stressed.

Just recently, el-Rufai re-echoed the agitations for state police when members of Course 60 of the National Institute of Policy and Strategic Studies (NIPSS), paid him a courtesy call at the Government House, Kaduna.

This, according to him, will help tackle the security challenges in the country.

He disclosed that: “There are nine governors who strongly believe in state police as the current number of policemen in the country is grossly inadequate. There is need to double the number of police personnel.” He dismissed arguments that state governments would not be able to pay the salaries of the police if created, arguing that the states were responsible for the running cost and overhead of the federal police.

Whatever it is, the massacre of innocent people in Birnin Gwari and other parts of the country, especially Benue, Taraba, Adamawa, Zamfara, Plateau and Nasarawa must be addressed.

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T H I S D AY ˾ ͯͲ˜ ͰͮͯͶ

T H I S D AY • MONDAY, MAY 14, 2018

23

BUSINESSWORLD R A T E S MONEY MARKET OBB OVERNIGHT

A S

A T

REPO 2.83 3.33

CALL 1-MONTH 3-MONTH

M A Y

Group Business Editor ChikaAmanze-Nwachuku Email: chika.amanzenwachukwu@thisdaylive.com 08033294157, 08057161321

1 1 ,

2 0 1 8

S & P INDEX 2.83 4.67 5.17

INDEX LEVEL 1-DAY MONTH-TO-DAY QUARTER-TO-DAY YEAR-TO-DAY

EXCHANGE RATE 360.96 -0.29% 0.10% 4.32% 9.56%

N305.20/1US DOLLAR AS AT LAST FRIDAY

THUMBS DOWN Customs Failure to Check Arms Proliferation

SEALED AND SIGNED

L-R: Senior Business Development Manager Africa, Mr. Jonathan Worrell; President of Institute of Chartered Accountants in England and Wales (ICAEW), Nick Parker; President, Institute of Chartered of Accountants of Nigeria (ICAN), Alhaji Isma’ila M.Zakari; and Vice President (ICAN), Alhaji Razak Jaiyeola, after the signing of MoU between ICAN and ICAEW at ICAN office, Victoria Island, Lagos ...recently KOLAWOLE ALLI

HowTopOilIndustryOfficialsRuinedNigeria’s Refineries NNPC urged to disclose full details of TAM Chika Amanze-Nwachuku Oil industry sources over the weekend made startling disclosures of how top industry officials ruined Nigeria’s four refineries by diverting huge funds earmarked for their routine comprehensive turnaround maintenance (TAM).

The four refineries located in Port Harcourt (two), Warri and Kaduna have a combined installed capacity to refine 445,000 barrels of crude per

ENERGY day, but have over the years performed abysmally owing to the obsolete state of the facilities.

THISDAY gathered that in 2014, the combined average refining capacity utilisation dropped to 14.4 per cent from 22 per cent in 2013. In 2015, the combined refining capacity utilisation declined further to 4.9 per cent against 14.4 per cent in the previous year. Three

of the refineries could only produce at averaged combined capacity utilisation of between 12.73 per cent and 23.09 per cent.

Minister of State for Petroleum, Dr. Ibe Kachikwu disclosed in February that collectively, all the four refineries are producing at 14 per cent capacity utilisation. Oil industry sources familiar with operations of the refineries, told THISDAY that contrary to repeated claims by the

Nigerian National Petroleum Corporation (NNPC) that the refineries undergo routine TAM, the four refineries might not have undergone comprehensive repairs in the last 18 years or more as contracts awarded by successive governments were either abandoned halfway or not executed at all.

Whereas the NNPC disclosed last week that it spent Continued on page 24

CBN, NSC Move to Introduce Disbursement Account for Shipping Agencies Agents lament $4bn annual revenue loss Eromosele Abiodun The Central Bank of Nigeria (CBN) and the Nigerian Shippers’ Council (NSC) are currently collaborating to compel all shipping agencies to open Disbursement Accounts (DAs) from where they will carry out operational costs for their multinational principals overseas.

The apex bank and the NSC, ports economic regulator said this was in line with Article 4 of the United Nations Confer-

ECONOMY ence on Trade and Development (UNCTAD) minimum standards for shipping agents all over the world.

The Executive Secretary of the NSC, Mr. Hassan Bello explained during a meeting between the CBN representative and shipping industry stakeholders in Lagos that maintenance of a disbursement accounts as provided by ‘UNCTAD Minimum Standards for Shipping

Agents’ stops the agent from going to the local market to source foreign exchange to settle charges incurred by the vessel locally.

This is just as some agents have disclosed that Nigeria loses $4billion (N1.44 trillion) annually for not introducing the disbursement account for all shipping agents.

Such amount, the agents stressed, can bring about a lot of multiplier effect in the industry and the national economy.

If protecting Nigeria’s borders from illegal movement of weapons is a primary responsibility of the Nigeria Customs Service (NCS), then the Hammed Ibrahim Ali –led NCS has failed woefully in its duties.

Ali, a retired Army Colonel was appointed on August 27, 2015 as the Comptroller General of the NCS by President Muhammadu Buhari.

Perhaps, the expectation was that Ali would bring his wealth of experience from his career in the Nigerian army in tackling the proliferation of illicit arms, which has become a major setback in government’s efforts to stem crime and insurgency in Nigeria.

But the inability of the customs, under his watch to secure Nigerian borders and stem smuggling activities has become evident in the alarming rate illegal arms and ammunition and other items are smuggled into the country through the now extremely porous borders.

In 2016, the United Nations (UN) raised the alarm over proliferation of illicit small arms and light weapons (SALW) in Nigeria. In fact, the UN stated then that over 350million out of the estimated 500million of such weapons said to be circulating in West Africa (about 70%) were domiciled in Nigeria.

Director of UN Regional Center for Peace and Disarmament in Africa (UNREC), Mr. Anselme Yabouri, who released the startling statistics in Abuja, had expressed concern that Nigeria was being flooded with illicit weapons, which have found their way into unauthorised hands, noting the development was a threat to the existence of the country as well as lives properties.

Last year, the federal government stated that adopting the whistle-blowing policy will curb high degree of arms proliferations in the country, which it noted, contributed majorly to the spate of arm conflicts in various parts of the country, especially the North Central and Middle-Eastern regions of the country. There is nothing on ground to suggest that this has yielded any result.

Worried about the ugly development, the Senate, last week, summoned the Customs helmsman, all service chiefs; Director General of the State Security Service, Lawan Daura and the National Security Adviser, Babagana Monguno over the worrisome situation.

The upper legislative chamber noted with dismay, the agency’s inability to control the proliferation of firearms into this country; as well as the negligence from the departments of government entrusted with the responsibility to control how individuals, corporate entities can acquire and maintain firearms in Nigeria, particularly the free access by hoodlums to acquire firearms easily.

Thousands of innocent Nigerians are killed on a daily basis in Benue, Kaduna, Kogi, Zamfara and other parts of Nigeria, with no meaningful efforts being made to stem the tide.

The situation has worsened to the extent that Nigerians are now advised to stand up and protect themselves. These prodding at self-defence, the Senate noted, if not checked through action by the government, would certainly get to the extent that firearm would be secured by every household either in the name of protection or for some other purposes, which will not augur well for this country.

Experts therefore posit that beyond the summon, the federal government should henceforth appoint capable hands at the helm of agencies, especially those responsible for securing the Nigerian borders as arms proliferation due to a weak customs service is a major threat to national security.

Bello, who was represented on the occasion by the Director, Legal Services of the Council, Mr. Samuel Vongtao, identified such charges to be covered by the DAs as those collected by the Nigerian Ports Authority (NPA); Nigerian Maritime Safety and Administration Agency (NIMASA); ship chandelling costs and other local shipping costs.

Bello said such charges were usually in foreign exchange Continued on page 24

Customs Comptroller General, Hammed Ali

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T H I S D AY • MONDAY, MAY 14, 2018

BUSINESSWORLD HOW TOP OIL INDUSTRY OFFICIALS RUINED NIGERIA’S REFINERIES

NEWS

THISDAY Model Portfolios Remain Stable with 30.7% Growth Goddy Egene

$396.33million on TAM for the four refineries between 1998 and 2008, an oil industry source stated that the last two comprehensive TAMs of the refineries were in 1995 and 2000.

According to the source, despite the billions of dollars, which the NNPC claimed were expended on the Port Harcourt refinery upgrade, the Continued on page 25

THISDAY Model Portfolio (TMP) followed the bearish trend at the stock market to close lower last week at 30.7 per cent.

However, Portfolio D has displaced Portfolio C to become the highest advancer.

Shortly after the introduction of TMP last year, Portfolio C has been dominating, recording the highest growth. But that is no longer the case as Portfolio D closed last week with the highest growth.

The TMP is an initiative of THISDAY Economic and

Financial Intelligence Unit (TEFIU), designed to enable leading stockbrokers and investment houses in the country share their trading skills and methodologies with ordinary investors.

The investment houses involved in the project are Afrinvest Limited, FSDH Securities Limited, Capital Assets Limited, Meristem Limited and Lead Advisory Limited .

It is made up of five different portfolio types constructed individually in conjunction with five leading stockbroking firms in the country with different investment objectives.

Each of the partner stock

CBN, NSC MOVE TO INTRODUCE DISBURSEMENT ACCOUNT FOR SHIPPING AGENCIES since, “it is assumed that the principal must have wired the funds to the disbursement of account of the agent in foreign exchange.�

He added that it was for the agents to make such payments in currency that was transferred to the disbursement account rather than going to the interbank market to source for foreign exchange.

He said that it was wrong that in Nigeria; the practice was completely different, adding that, “shipping agents apply to transfer all incomes to their principal while at the same time applying to Central Bank of Nigeria (CBN) for foreign exchange at interbank market to service local costs.�

The CBN Deputy Director, Foreign Exchange Management, Trade & Exchange Department, Mr. A.S. Jibrin said the idea of the meeting with the stakeholders was to ensure that the DA enjoys the support of those in the shipping industry.

Jibrin explained that what the CBN set out to do was to listen to the stakeholders on the DA, adding that the apex bank was interested on policies that will grow the shipping industry and the national economy.

He said the decision on the policy could not have been taken without hearing from those in the industry.

Group Business Editor

Chika Amanze-Nwachuku AgriBusiness/Industry Editor

Jonathan Eze

Comms/e-Business Editor

Emma Okonji

Capital Market Editor

Goddy Egene

Senior Correspondent

Raheem Akingbolu (Advertising) Correspondents

Chinedu Eze (Aviation) Linda Eroke (Labour) Eromosele Abiodun (Maritime) Ejiofor Alike (Energy) James Emejo (Nation’s Capital) Obinna Chima (Money Mkt) Chineme Okafor (Energy) Reporters

Nume Ekeghe (Money Market) Nosa Alekhuogie (Cap Mkt)

broking houses constructed a portfolio of 10 stocks selected according to their individual best judgement and using their best and well tested stock selection and investment strategies. Each of them then deployed an imaginary fund of N10 million to invest on the 10 stocks in whatever proportions they considered best.

Four of the stockbroking firms have been recording growth in their respective portfolios, while one has recorded instability in its performance. As at the close of trading last week, the four

portfolios remained positive.

An analysis of the individual performance showed that Portfolio D has so far recorded a growth of 53.8 per cent. This implies that the N10 million deployed by the portfolio has improved to N15.381 million.

Portfolio C followed with 48.3 per cent. With this performance, the N10 million deployed has increased to N14.831 million. In the same vein, Portfolio B ended last week, showing a growth 39.7 per cent, meaning that its N10 million is now valued at N13.973 million. Portfolio A’s growth stood at 24.5 per

cent, indicating that the N10 million deployed has improved to N12.452 million. In all, TMP has appreciated to N52.289 or 30.7 per cent, compared with the initial N40 million.

Meanwhile, a further analysis of the Portfolio D, which is the highest gainer, showed that nine of the 10 stocks are witnessing positive performance. One of stock is negative with a decline of 16.6 per cent. The highest gain is 120.4 per cent, followed by 109.2 per cent. Others are: 75.3 per cent; 49 per cent; 40.9 per cent; 28.1 per cent; 20.5 per cent; and 11.2 per cent.

SHADOW PORTFOLIO WEEKLY TRACKING TABLE PORTFOLIO MODEL

START DATE

START VAL(N)

VALUE NOW (N)

GAIN (N)

GAIN (%)

REMARK

1

PORTFOLIO A

JULY 3, 2017

10,000,000

12,451,626

2,451,626

24.5%

POSITIVE

2

PORTFOLIO B

JULY 3, 2017

10,000,000

13,973,195

3,973,195

39.70%

POSTIVE

3

PORTFOLIO C

JULY 3, 2017

10,000,000

14,831,086

4,831,086

48.30%

POSITIVE

4

PORFTOLIO D

JULY 3, 2017

10,000,000

15,381,134

5,381,134

53.81%

POSITIVE

5

PORTFOLIO E

JULY 3, 2017

10,000,000

9,971,275

-28,725

-0.29%

NEGATIVE

The shadow portfolio is computed weekly by THISDAY in association with the following partners. While this will no doubt serve to enlighten the public THISDAY and its partners do not intend this table be used for investment purpose without due consultation with any of the partners through THISDAY Economic and Financial Intelligence Unit PARTNERS: Afrinvest; FSDH, Capital Assets, Meristem & Lead Capital. For more information send sms to 09067059433

Analysts Highlight Opportunities in Nigeria-China Currency Swap Deal Obinna Chima The $2.5 billion bilateral currency swap deal recently signed between the Central Bank of Nigeria (CBN) and the People’s Bank of China (PBoC) will impact positively on the Nigerian economy, analysts at FSDH Merchant Bank Limited have stated. The deal signed in Beijing by the CBN Governor, Mr. Godwin Emefiele and the PBoC Governor, Dr. Yi Gang, was worth 16 billion Renminbi (RMB) or N720 billion.

In its latest Economic and Financial Market Outlook report for April titled: “Local Competitiveness and Currency Swap,� the investment bank said the deal was expected to reduce demand for the United States dollar by Nigerians who import goods from China and consequently strengthen the value of the naira.

According to the report, the deal would also reduce certain barriers for Nigerian importers of goods from China and reduce the cost of transactions in multiple currencies.

This, according to the firm, would also lead to stability in the foreign exchange.

It pointed out that FSDH’s analysis of the trade relationship between Nigeria and China in the last five years showed that Nigeria had a

negative trade balance with China.

The report said: “While we believe the currency swap agreement may improve foreign exchange stability and aid external reserves management to a certain extent, it has some downside risks. The fact that it removes some trade barriers between the two countries may increase Nigeria’s imports from China. “This development, without a corresponding increase in Nigeria’s exports to China, will increase Nigeria’s trade deficit with China.

Nigeria needs to develop competitive advantage in the production of certain exportable goods that China currently imports in order for Nigeria to get the full benefits from this currency swap deal.�

Also, the FSDH report predicted a 3.55 per cent growth rate in the country’s Gross Domestic Product (GDP) in the first quarter (Q1) of 2018 as the Purchasing Managers Index (PMI) expands. According to the report, the anticipated positive GDP was expected to drive credit creation, both in the manufacturing and nonmanufacturing sectors. “The Manufacturing PMI in the month of April stood at 56.9 points from 56.7 points recorded in March.

Similarly, the Non-Manu-

facturing PMI improved to 57.5 points from 57.2 points in March. The expansion in the PMI is an indication of the growth that FSDH Research expects in the economy in the short-to-medium term,� it said.

While noting that the improved macroeconomic environment in the Nigerian economy was also expected to boost foreign exchange inflows and the external reserves in April 2018, the Head of Research, FSDH Merchant Bank, Ayodele Akinwunmi, pointed out that favourable developments in the crude oil market and consistent inflows from the Investors’ and Exporters’ Foreign Exchange Window (I&E Window) werethe major inflows into the external reserves.

On inflation, the firm forecast a further drop in inflation rate to 12.43 per cent in April 2018 and expected the inflation rate to drop to a single-digit by July 2018 provided there is no food shortage in the country on account of the current rising crisis in the food producing areas in the country.

The report further stated: “The sharp drop in the yields in the Nigerian Treasury Bills (NTBs) in the last few months raises a question if the yield on 364-Day NTB will drop to a single digit, the first time

EmeďŹ ele since 2011. The average yields on the 364-NTB remained in single digit figures between 2008 and 2010 while inflation rate during this period was in double digit figure leading to negative real yields.â€?

It anticipated that yields on FGN Bonds may increase from the current levels, saying the federal government may increase borrowing to fund the 2018 budget when it is passed.

Advising on income investment strategy for the month of May, FSDH said investors

should take advantage of the current yields on the one year Treasury Bill and consider taking position in some corporate bonds in the market that have attractive yields and good names.

It advised investors to re-align their portfolios by investing more in corporate bonds from the secondary market.

The report equally showed that the outlook for the equity market remained positive as both economic and financial developments support recovery in the equity market.

25

T H I S D AY • MONDAY, MAY 14, 2018

BUSINESSWORLD

NEWS

House C’ttee Probes NNPC’s Books as Baru Pledges Cooperation James Emejo in Abuja The House of Representatives Committee on Public Accounts has said the Nigerian National Petroleum Corporation (NNPC) will have to convince it that there are no elements of compromise to be established against the corporation following evidence of clear violation of financial regulation and maintenance of auditors.

The committee had placed NNPC on status enquiry following queries by the Auditor General for the Federation (AuGF) that the former was one of the agencies of government, which had never submitted its audited accounts for scrutiny. The committee has therefore, launched full scale investigation into the operations of the NNPC, focusing on its approved budgets, turn around maintenance of refineries and evidence of tax remittances into the Federation Account among others.

However, preliminary evaluation of documents, which were duly validated

by NNPC’s Group Managing Director, Mr. Maikanti Baru, showed the corporation operated without audited financial accounts for five years, from 2010 to 2015 and retained its auditors for nearly eight years, in violation of financial regulations.

A member of the committee, Hon. Raphael Igbokwe (APC, Imo) had observed that same auditors, including Ernst Young and Sulaiman & Co had audited the corporation’s accounts for eight years.

According to financial rules, an auditor can be retained for an initial period of three years and two years subsequently.

However, Baru who had appeared alongside NNPC’s management team before the committee, asked the NNPC’s Chief Financial Officer (CFO), Mr. Isiaka Abdulrazak to respond to the concerns raised by the lawmakers.

The CFO said: “We move our auditors around every five years maximum. When the new government (Buhari) came in, this management was appointed; as at August 2015 when we came in, the only audited account NNPC had was 2010 account.

“But under the leadership of the GMD, he said we must clear the backlog; so in less than two years, we did over 88 financial statements for all business and subsidiary companies as well as the corporate headquarters.”

He said: “And I’m proud to say here today for the first time, NNPC has fully audited financial statements which are current as per the requirements of the financial regulatory authority Act as well as auditor general’s rules.” But, Igbokwe said the CFO’s explanation only begged the question and confirmed fears on noncompliance with financial regulation and maintenance on auditors He said: “When they came in for eight years, there were no audited accounts.

And one set of auditors were now commissioned to conduct

the audit for eight years.

“He has a lot of work to do to convince this committee that the element of compromise cannot be established because that’s the fundamental basis on that circular on financial regulation.”

He added the issues on the NNPC’s auditors will qualify the weight and value attached to the audited reports.

However, Chairman of the Committee, Hon. Kingsley Chinda (PDP, Rivers) said NNPC had been summoned in respect of a status enquiry on the financial activities of the corporation for the period covering 2015 to 2018.

He said the corporation will have to provide all documents needed by the committee to conduct a proper assessment, adding that appropriate sanctions would be recommended where necessary.

According to him, the documents include the nominal roll indicating staff, states of origin and their gender; details of all tax liabilities and payments including income tax, value added tax (VAT), withholding tax and all other taxes and evidence of remittances and evidence of receipt of taxes by appropriate authorities.

Chinda said the NNPC must also provide details of various government brands and their values and application of such grants; the external auditors’ management reports for the period under review; details of the turn around maintenance covering 2010 to 2017 to include both the executors’ costs, among others; details of subsidiary benefits and commissions or running costs or subsidy benefits commissions or running costs He added: “Why we have to use different words is that we’ve realised that when you talk about subsidy, sometimes, we are told that it’s running cost and at other times, we are told it’s commission an all that but whatever nomenclature; anything above the approved price.”

Continuing, he also called for evidence on investments and dividends received from short and long term investments, including percentage of holding, the statement of affairs of your subsidiaries, details of project files as well as procurement plans and records which will fall in line with Sections 18 and 21 of the Procurement Act. Also, to be provided by NNPC are copies of the joint venture agreements, details of out-sourcing contracting including owners, contract sums, payments and how they are captured in the financial statements.

Other are interest bearing loans which will include the types- whether they are working capital or capital acquisition, financial leases which will include obligation, sums, assets etc.

The wide ranging probe will also exammine records of appointments, and employmenT; records of all corporate social responsibility (CSR) projects and the value of such projects including the beneficiaries;

details of emolument for staff of different grades as well as a report on the trust of NNPC. Baru, however, promised that the corporation will give the committee maximum cooperation to accomplish its assignment. He pointed out that the NNPC has various activities that are interlinked

and complex, urging the committee to exercise caution in its assignment.

He said all documents requested by the lawmakers will be provided.

He also seized the opportunity to express appreciation to the House for its support in proffering lasting solution

to the recent fuel crisis in the country. Baru said: “I am glad to report to the honourable committee that as of today, not only have we been able to surmount that problem but to tell you that on the basis for volumes for particularly PMS, petrol, we have over 2.64 billion litres of the product on

the ground.

“And on the basis of 35 days consumption rate, that’s over 75 days of supply. And on the basis of what we’ve seen, as the current evacuation rate of an average of 50 million litres a day, that would last us as a country for over 54 days’ supply.”

MINISTERIAL PRESS BRIEFING

L-R: Lagos State Commissioner for Science and Technology, Mr. Hakeem Popoola Fahm and Permanent Secretary, Lagos State Ministry of Science and Technology, Mr. Olukayode Ogunnubi, during the ministerial press briefing by the Commissioner to commemorate the third anniversary of the administration of Governor Akinwunmi Ambode of Lagos State, which held at the Secretariat in Alausa...recently

HOW TOP OIL INDUSTRY OFFICIALS RUINED NIGERIA’S REFINERIES power unit, said to be among its vital units was neglected, culminating in the massive damage to the fluid catalytic unit, which is responsible for conversion processes used in petroleum refining. According to checks, failures by successive governments to carry out routine TAM of the refineries resulted in the colossal damage to their vital units.

For instance, the two TAMs slated for the four refineries in 1998 were not carried out despite that the firms engaged in the purported exercise were paid millions of dollars.

Also, between 1999 and 2013, billions of dollars were reportedly voted for the refineries upgrades and/or TAMs, but there was little or no repairs carried out on them.

A former Minister of Petroleum, Mrs. Diezani Alison –Madueke had after a tour of the refineries, shortly after she assumed office, confirmed that “all the vital units of the refineries were obsolete and could no longer produce owing to years of neglect.”

Describing the refineries as ‘ATMs’ for successive administrations, a highly placed industry source said attempts to privatise the refineries had been frustrated by those who feed fat from them.

“What has happened over the years was that the authorities set up shell firms that win contracts for

the repairs that were never carried out at the end of the day. The huge funds are often used for election purposes”, said the source.

In 2014, it was gathered that about $1.8billion was voted for TAM of the four plants, but there was no indication that the money was utilised for that purpose as all the refineries have remained comatose.

A source added: “All the claims in the past that the refineries were producing were false. If you were following the trend, once the NNPC announces TAM on the refineries, it would be followed by announcement on when the repair would be concluded and what the refineries are producing.

In fact at some point, the corporation will announce the production capacity, 60 or even 90 per cent. The next thing is to set the target when the country will end importation. All these were aimed to deceive Nigerians that the money earmarked for the repairs had been utilised for the purpose. “After the TAM that never happened, the next announcement would be attack by vandals. They will claim that the refineries have stopped producing as a result of the attack. The next thing is to award another contract for TAM and billions of dollars would be released for upgrades and TAM that

never happen”, added the source. He noted that the NNPC often kept the identities of contractors secret because the deals were fraudulent.

“A recent case in point was how a Nigerian firm, a few years’ ago, inflated the contract for the repairs of the old and new Port-Harcourt refineries.

At the end of the day, the country was ripped off to the tune of about $150 million being inflated payments on the contract”, another source recalled, even as he challenged the NNPC management to make open to Nigerians, the identities of the contractors that carried out the series of repairs, the amounts, dates of the repairs as well as schedule of the various maintenance carried out.

The NNPC in 2014 claimed it adopted phased rehabilitation of the plants after efforts in 2011 to get the original refinery builders (ORB) involved in their rehabilitation came up with unfavorable terms.

Kachikwu, had shortly after assuming office, declared that about $1.2 billion was required to repair and bring the three refineries in Port Harcourt, Warri, and Kaduna, up to 100 per cent production level.

He said the government was yet to get financiers to take this up and not concession the refineries as previously reported. Kachikwu also revealed that the government had renewed plan to invite

the original refineries builders (ORB) for the three refineries to undertake their repairs.

The minister also stated then that there was a consensus within the government that the refineries ORBs which are Saipem in Warri; JGC in Port Harcourt; and Chiyoda in Kaduna, would be invited to undertake the repairs considering that they have a better knowledge of the refineries. Addressing the House of Representatives’ Ad-hoc Committee investigating the status of the nation’s four refineries, last week, Chief Operating Officer in charge of Refineries, at the NNPC, Anibor Kragha, disclosed that the corporation spent $396.33million on TAM for the four refineries between 1998 and 2008 alone.

According to a breakdown of the expenses by the NNPC, a total sum of $182.730 million were proposed for old and new Port Harcourt refineries, for which it claimed $157.641 million was spent, while $151.170 million was spent on Warri refinery. The NNPC further noted that of the $91.5 million proposed for the Kaduna Refinery, $87.517 million was spent.

In the TAM record provided, the corporation did not reveal the cost of the TAM carried out during the last administration and also failed to give details about the firms that carried out the said TAM.

27

T H I S D AY • MONDAY, MAY 14, 2018

BUSINESSWORLD

MARKET INDICATOR

CBNSellsN454bnTreasuryBillsinLiquidity Mop UP Obinna Chima The Central Bank of Nigeria (CBN) last week sold treasury bills worth N454.16 billion via open market operations (OMO). But a report by analysts at Cowry Asset Management Limited that disclosed this at the weekend, pointed out that the outflows from the treasury bills sales were partly offset by a N296.61 billion in the matured fixed income instrument.

Also, the Standing Deposit Facility (SDF) week-on-week fell by 7.34 per cent to N528.33 billion. Consequently, the Nigerian Interbank Offered Rates (NIBOR) rose for all tenor buckets amid renewed liquidity strain.

Specifically, the NIBOR for overnight, onemonth, 3-month and 6-month tenor buckets rose week-on-week to 76.05 per cent (from 3%), 14.50 per cent (from 11.27%), 15.47 per cent (from 12.94%) and 16.67 per cent (from 14.13%) respectively.

On the other hand, the Nigerian Interbank Treasury Bills True Yields (NITTY) rose for all maturities on renewed sell pressure. For instance, yields on the one-month, 3 -month, 6-month and 12-month maturities rose to 13.08 per cent (from 9.31%), 13.59 per cent (from 10.90%), 13.76 per cent (from 11.31%) and 13.68 per cent (from 11.94%) respectively.

This week, the CBN is expected to selltreasury bills amounting to N33.84 billion via the Primary market. A breakdown of this showed that the banking system regulator would auction91-day bills worth N3.38 billion, 182-day bills worth N16.92 billion and 364-day bills worth N13.54 billion, which will partly offset the maturing treasury bills worth 330.30 billion.

“Hence, we anticipate ease in financial system liquidity with resultant moderation in interbank rates if CBN does not aggressively mop up via OMO sales,” Cowry Asset Management stated.

Forex Market In their assessment of the performance of the foreign exchange (forex) market, analysts at Afrinvest Securities Limited, noted in its report that the impact of the sustained rally in oil prices as well as improvements in production volumes had continued to buoy the Nigerian external reserves which according to them had surpassed other African countries.

Nigeria’s forex reserves are currently about $48 billion.

Accordingly, the CBN continued its weekly intervention as it sold US$210million last Wednesday, via the wholesale SMIS (Secondary Market Intervention Sales) window in a bid to improve system liquidity and ensure stability across the different segments of the foreign exchange market.

As a result, the naira traded within tight limits during the week.

But the CBN official rate last week opened the week at N305.75/US$1.00, a five kobo depreciation from the preceding week and remained at this level all through the week.

Also, parallel market rates depreciated slightly to N363 to a dollar last week, from the N362 it was previously.

However, in the Investors & Exporters (I&E) FX window, the naira appreciatedby four kobo in the week. The NAFEX rate opened the week at N360.83/US$1 (unchanged from the preceding Friday) but depreciated to N360.87/US$1 by midweek before appreciating to N360.79/ US$1 last Friday. Similarly, activity level in the I & E FX Window strengthened in the week, rising 63.3per cent to US$1.3 billion week-on-week from the US$782.1 million recorded the preceding week.

At the FMDQ OTC futures market, the total value of open contracts increased by 7.8 per cent to US$3.7 billion, from US$3.4 billion recorded the precedingweek.

It showed that the MAR 2019 instrument was the most subscribed instrument in the week with an additional subscription of US$68million, while the MAY 2018, JULY 2018, SEPT 2018 and FEB 2019 stayed flat all through the week.

“In the coming week, we expect rates to

remain at similar levels as the CBN continues with its weekly interventions to keep liquidity levels in the market,” Afrinvest stated.

Bond Market The bearish sentiment in the domestic bond market continued last week as investors further reprised yields against the backdrop of recent pull back in emerging markets assets.

Consequently, average yield across tenors trended higher on all trading days except lastTuesday as it settled at 12.9 per cent on Friday, up 24 basis points week-on-week.

But yields rose on average all through the week until last Thursday when it marginally moderated by one basis point, but the market sold off lastFriday, to end the week bearish. Despite the downside risks of rising interest rates in the U.S and strengthening US dollar, which spiked markets in the last two weeks, Afrinvest analysts argued that “local fixed income yields still have some scope for compression in the near term given moderating inflation rate - anchoring the CBN

Nevertheless, across the sub-Saharan Africa Eurobond market, there was a reversal in the bearish performance witnessed last week on the back of renewed buying interest in foreign currency (FCY) sovereign debts of Nigeria, Gabon, and Ivory Coast, which recorded 11 basis points, 30 basis points and nine basis points week-onweek compression in yields respectively

policy easing bias - as well as improving macroeconomic fundamentals which should typically narrow credit spreads.”

Nevertheless, across the Sub-Saharan Africa Eurobond market, there was a reversal in the bearish performance witnessed last week on the back of renewed buying interest in foreign currency (FCY) sovereign debts of Nigeria, Gabon, and Ivory Coast, which recorded 11 basis points, 30 basis pointsand nine basis points week-on-weekcompression in yields respectively.

But the ongoing rout in emerging markets fixed income market did not stop Ghana from issuing its first Eurobond debt since 2016, joining other African sovereigns (Nigeria, Ivory Coast, Senegal, Egypt and Angola) in a record bond issuance year for the region.

The West African country, currently benefitting from the IMF’s Extended Credit Facility, placed a US$1 billion 10-year bond at 7.6 per cent while the 30-Year US$1 billion tranche was priced at 8.6 per cent.

On the other hand, sentiment on Nigerian corporate Eurobonds was largely mixed as yields fell on seveninstruments tracked and rose on four others. Specifically, yield on ACCESS 2021 Senior debt rose 44 basis points weekon-week to 6.8 per cent, to record the worst performance while ZENITH 2019 recorded the best performance. The best performing instruments year-to-date was Diamond 2019 and FirstBank 2021 which have returned 5.1per cent and 3.1 per cent respectively.

“Interest rate normalisation in advanced economies remain a key downside risk to performance of African Eurobonds, as shown by the relatively weak performance of bonds thus far in 2018 compared to the bull market in 2017.

“Nonetheless, rising commodity prices and consequent moderation in credit risks of several African sovereigns will provide some buffer on performance of FCY debt instruments,” Afrinvest stated.

Foreign Portfolio Investments The value of foreign investors’ holdings of Nigeria’s local debt instruments rose significantly to $16 billion as of the end of March, signposting the renewed investor confidence in the country.

The International Monetary Fund’s Mission

Chief to Nigeria, Mr. Amine Mati, who disclosed last week while making a presentation at the Moody’s Investors Service Fourth Annual West Africa Summit titled: ‘Nigeria’s Recovery: Slow and Sturdy,’ that took place in Lagos, put the value of foreign investors’ holdings in domestic debt instruments in Nigeria previously at about $4 billion.

In addition, he said Nigeria’s equities market has also seen increased interest by foreign investors.

“The number of investors that keep coming to my office (to make enquiries about investing in Nigeria) keeps rising.

“Last year, foreign holdings of local debt was about $4 billion, as at the end of March this year, foreign holdings of local debt was $16 billion, which shows a lot of interest in the country,” he explained.

Foreign Capital Inflows The Federal Capital Territory, Abuja has become the leading recipient of foreign capital inflows, commencing from the fourth quarter (Q4) of 2017.

In the first quarter (Q1) 2018, the nation’s capital also overtook with an inflow of $3.54 billion, the National Bureau of Statistics (NBS), revealed in its latest ‘Capital Importation (Q1)’ report.

This indicated an increase of 32.24 per cent from the figure recorded in the previous quarter, when it reported $2.68 billion.

At the same time, capital importation to Lagos increased marginally by 4.59 per cent from $2.55 billion in the last quarter to $2.67 billion in Q1, 2018, while Capital Importation to Akwa Ibom was $43.62 million, which is a decline of 65.05 per cent from the figure reported last quarter ($124.85 million).

In contrast, Ogun, Bauchi, and Kano States witnessed strong growth in foreign capital inflow in the first quarter, each recording respective growth rates of 182.06 per cent, 370.59 per cent, and 154.84 per cent on a quarter-on-quarter basis.

The NBS also revealed in its just-released ‘Nigerian Capital Importation (Q1 2018)’ report that the total value of capital imported into the country in the first three months (first quarter) of 2018 stood at $6,303.63 million, representing a 594 per cent increase (yearon–year) from $908.3 million in Q1 2017.

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BUSINESS/MONEYGUIDE

Firm Targets to Empower Middle-class through Wealth Creation Obinna Chima The Growth and Development Limited (GDL) has expressed its preparedness to rebuild the middle-class segment in the country through different asset management offerings.

The chief executive, GDL, Mr. Kola Ayeye said this during a media briefing in Lagos at the weekend to mark the opening of the asset management firm’s mainland office in Ilupeju, Lagos.

Ayeye, who recently left the Assets Management Corporation of Nigeria (AMCON) as an Executive Director, said it was illogical for social infrastructure to collapse, the middle class to remain weak, while the banking industry

total profit was approaching N1trillion in the country.

He explained: “Our country Nigeria is really punching below its weight and I think that is something that is obvious and needs no further explanation. “We have the substantial collapse of social infrastructure.

The middle class is very thin and continues to get thinner. “We think it is a contradiction for social infrastructure to collapse, for the middleclass to remain emasculated and for profits of t h e f i n a n c i a l s y s t e m t o b e a p p ro a c h ing N1 trillion,� he said.

According to him, i n s o c i e t i e s where there is a thriving middle-class, the social infrastructure must be

in good conditions Commenting about his firm, he said the company was set up to deliver strong social impact, but also to make money, stressing that GDL is not a charity organisation. “We are a financial institution, we are here to make money but we are not only here to make money, we are here to deliver strong social impact. “We want to be a leading diversified financial institution, creating wealth and transforming society. We want to provide unique financial solutions which strengthen and expand the middleclass,� he said.

Ayeye said that over the next few months, specific funds and products to actualise GDL’s mission would be unveiled.

FirstBank Introduces Contactless Naira MasterCard FirstBank of Nigeria Limited has announced the introduction of a contactless naira MasterCard to its array of debit cards.

The move, according to the bank, was to promote convenience, ease of transactions and the security of funds.

According to a statement from the bank, FirstBank debit cards are acceptable nationwide and globally,adding that they can be used to withdraw cash and access value added services including bills payment, airtime recharge, flight and hotel booking among others. “The FirstBank Contactless Naira Master Card enables quick pin-less purchases and is a fast secure way for customers

to shop locally and globally. “The contactless card can be used for making payments in the London transport network such as buses, tubes, trams, Dock and Light Railway (DLR) and the London Overground as well as in Grocery shops, supermarkets and Gas stations within London metropolis. “The card is designed to enhance a cashless lifestyle by promoting increased card usage for lower value transactions.

Payments are made by tapping the card on the POS machine with contactless functions for low value transactions; the card can also be used in a regular POS as a normal MasterCard,� it explained.

The daily limits for pin-less

transactions are N3,000 for the contactless naira Mastercard and N10,000.00 for the contactless Platinum Debit MasterCard.

Furthermore, it revealed that the FirstBank Verve debit card is Chip & PIN secured for greater protection of customers’ funds and provides extra protection for web-based transactions with “Safetoken.� “It is accepted wherever the Interswitch or Verve logo is displayed and can also be used to perform transactions via the Quickteller services menu on FirstBank ATMs. This Card is issued in 15 minutes at FirstBank branches, saves time and is very easy to obtain.

Jaiz Bank Posts N894m Profit Ndubuisi FranciĂ? Ă“Ă˜ ĂŒĂ&#x;ÔË The pioneer non-interest bank in Nigeria, Jaiz Bank Plc, has declared significant growths in key performance indicators in 2017, thereby recording almost double growth on every unit of transaction during the period.

Its Managing Director/ CEO, Hassan Usman said at the annual general meeting of the bank, in Abuja on Friday that the bank’s profit before tax (PBT) increased by 161 per cent from N343.02 million in 2016 to N894.01 million in 2017.

Key extracts of the audited report and accounts of bank for the year ended December 31, 2017 showed that pre-tax profit-margin-which measures the underlining profitability of

the company- doubled from 5.5 per cent in 2016 to 11 per cent in 2017. The pre-tax profit margin denotes the efficiency of the core operational and administrative cost management, and it is usually taken as a more definitive index of performance than top-line margins.

According to the report, the gross earnings rose by 40 per cent from N6.18 billion in 2016 to N8.10 billion in 2017.

Gross profit grew by 34 per cent to N6.705 billion in 2017 as against N5.003 billion in 2016.

Profit before tax jumped by 160.6 per cent from N343.02 million in 2016 to N894.01 million in 2017.

The report also revealed that its balance sheet grew by 32 per cent from N66 billion in December 2016 to N87 billion in December 2017.

An increase also emerged in income-generating assets by more than 36 per cent from N35 billion in December 2016 to N48 billion in December 2017, just as customer deposits grew by about 35 per cent from N50 billion as at December 2016 to N68 billion in December 2017.

Speaking at the AGM, the CEO said 2018 is the year, the bank needs to demonstrate that it has the capacity to grow safely and sustainably.

He said: “We are using a number of measures to spark progress in that regard, some of which include the automation of our retail financing business, focus on unreserved markets and the financially excluded, institutional alliances, nimble workforce and effective performance tracking amongst others.�

Sterling Bank Targets N10bn in Consumer Loan Initiative Ugo Aliogo Ă‹Ă˜ĂŽ Esther Ehoche As part of efforts to increase the number of its consumer loans, Sterling Bank Plc has launched a new consumer loan initiative known as ‘Specta.’ Speaking recently at a media briefing in Lagos, the Head, Value Chain Banking, Sterling Banking, Benedicta

Sadoh,described ‘Specta’ as a retail loan lending platform that ensures that customers have access to personal loan product within five minutes of profiling, adding that it ensures speed, convenience and accessibility.

Sadoh explained that the maximum tenure on Specta is 48 months. However, she pointed out that the 48 months tenure is not for everybody.

She added: “It all depends on the agreement we have with your Human Resources Manager (HRM).�

According to her, “As a bank we have our insurance partner - SDG insurance. What we have realised is that as salary customers, our earnings are not enough to meet our needs which is the essence of having this product.

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

MARCH 2018 Broad Money (M2)

24,303,049.86

-- Narrow Money (M1)

10,912,604.10

---- Currency Outside Banks

1,668,378.21

---- Demand Deposits

9,244,225.90

-- Quasi Money

13,390,445.76

Net Foreign Assets (NFA)

15,619,134.18

Net Domestic Assets(NDA)

8,683,915.68

-- Net Domestic Credit (NDC)

26,267,136.53

---- Credit to Government (Net)

3,823,345.45

---- Memo: Credit to Govt. (Net) less FMA

5,433,209.43

---- Memo: Fed. and Mirror Accounts (FMA)

-1,609,863.98

---- Credit to Private Sector (CPS)

22,443,791.08

--Other Assets Net

-17,583,220.85

Reserve Money (Base Money)

6,746,646.49

--Currency in Circulation

1,668,378.21

--Banks Reserves

4,357,551.58 Ëž Ă™Ă&#x;ĂœĂ?Ă? Ě‹

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

Minimum Rediscount Rate (MRR) Monetary Policy Rate (MPR)

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

Ëž Ă™Ă˜Ă?ĂžĂ‹ĂœĂŁ ÙÖÓĂ?ĂŁ Ă‹ĂžĂ? Ě‹ ͯ͹Ϲ

OPEC DAILY BASKET PRICE AS ATTUESDAY MAY 8, 2018

OPEC daily basket price Thursday, 10 May 2018 The price of OPEC basket of fourteen crudes stood at $74.46 a barrel on Thursday, compared with $73.97 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), ZaďŹ ro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela) SOURCE: OPEC headquarters, Vienna

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MARKET NEWS

Diamond Bank Boss Optimistic Despite N9bn Loss Goddy Egene Diamond Bank Plc has recorded a loss of N9.011 billion for the year ended December 31, 2017, compared with a profit after tax of N3.498 billion in 2016.

But the chief executive of the bank, Uzoma Dozie has expressed optimism, saying that with the actions already taken, coupled with the pick up in economic activities, Diamond Bank would turn a profit this

year.

The audited results showed gross earnings of N189.622 billion, up from N184.056 billion posted in 2016. Net interest income fell from N96.543 billion in 2017, compared with N98.284 billion in 2016. Net fee and commission income stood at N37.068 billion, from N41.432 billion in 2016. Net impairment stood at N56.830 billion in 2017, down marginally from N57.015 billion in 2016. Total expenses

P R I C E S MAIN BOARD

F O R DEALS

rose from N83.569 billion to N88.847 billion in 2017. The bank ended the year with loss after tax of N9.011 billion in 2017, compared with profit after tax of N3.498 billion in 2016.

Commenting on the results, Dozie said the bank made progress in executing its technology-led retail banking strategy in 2017. “We increased our market share and drove scale through a combination of technology

S E C U R I T I E S MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

and expansion of our services across additional platforms. For instance, we made additional inroads to the unbanked and underbanked populations with the support of our international partners. In addition, the rapid rollout of products and services for entrepreneurs, and small and medium business owners gained significant traction and is a trend that is set to continue.

According to him, at a macro level, the economic environment

T R A D E D MAIN BOARD

A S

improved, albeit marginally. “Against this backdrop and Nigeria’s broader positive fundamentals, we disposed of some non-core assets to optimise the use of our resources and focus on the significant potential of our domestic market. By taking this action, Diamond Bank is better positioned to accelerate its growth, productivity and profitability in the short to medium term,� Dozie said.

O F

“Although more work is to be done, particularly in relation to our oil and gas exposure, overall the quality of the loan book has improved. This will remain a key area of focus over the next 12 months. Looking ahead, I am optimistic that due to the actions we have taken as well as an improving economy, Diamond Bank will continue to make good progress and achieve greater profitability,� he added.

0 9 / 0 5 / 2 0 1 8 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

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MARKET NEWS

First Registrars Enhances Investors’ Experience with Mobile App First

Registrars and Investor Services Limited has launched a mobile app to enhance investors’ experience. Speaking at the unveiling ceremony of the App in Lagos, the Managing Director/Chief Executive Officer, Mr. Bayo Olugbemi said that the First Registrars mobile app is the first of its kind in the share registration industry in Nigeria.

According to him, with the mobile app, shareholders and investors now have instant

and unlimited access to their shareholdings and other related information about their shares, dividends, bank mandates, among others under the purview of First Registrars.

“In its bid to enhance shareholders and investors’ experience, First Registrars has committed a significant investment in the development of the mobile app which now brings the register of members to the fingertips 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

the shareholders/investors.

Shareholders can access their share transactions, dividends information, bank mandates, address confirmation and even pre-register for annual general meetings (AGMs) and extra-ordinary general meeting (EGMs) and lots more,” Olugbemi said.

He explained that with the mobile app, shareholders need not to come to the office to transaction all the businesses stated above.

Also speaking, Group Head

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 10-May-2018, unless otherwise stated.

Business Development & Services at First Registrars, Abayomi Oluwato, said: “Customer service excellence is at the centre of our operations, hence we will always invest in human capital and technological innovation that will at all times add meaningful value to our customers (both the clients and their shareholders).

First Registrars Mobile App undoubtedly will enhance our customers’ experience and at no fee as the mobile app

is absolutely free.”

In the same vein, Head, Business Development Division, First Registrars, Mr. Yaya Lawal said: “We are in a digital age and we must continually take our products and services to the customers wherever they may be rather than wait for the customers to come down to our office before getting their queries resolved.”

He explained that a security measure has also been factored into the development

of the app such that an one-time password (OTP) is sent to the shareholders’ mobile phone number (phone number must have been registered with First Registrars) at the point of registration which then serves as the login PIN. “To download the app, shareholders should visit the Google playstore and search for First Registrars, the icon of the app is the First Registrars logo. Click on install,” Lawal said.

Offer price: The price at which units of a trust or ETF are bought by investors.

Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return.

NAV: Is value per share of the real estate assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 1 270 1680 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 193.88 195.12 9.23% Nigeria International Debt Fund 245.32 246.59 6.31% 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 0.87 0.88 5.88% ACAP Income Funds 0.66 0.66 8.83% 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 13.65% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund N/A N/A N/A ARM Discovery Fund N/A N/A N/A ARM Ethical Fund N/A N/A N/A ARM Money Market Fund N/A N/A N/A AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund 159.59 160.71 5.21% AXA Mansard Money Market Fund 1.00 1.00 13.64% 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 12.30% Paramount Equity Fund 12.13 12.44 9.39% Women's Investment Fund 103.60 106.28 2.96% 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 13.40% 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 13.24% Coronation Balanced Fund 1.14 1.17 8.77% Coronation Fixed Income Fund 1.11 1.14 7.26% FBNQUEST ASSET MANAGEMENT LTD invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Fixed Income Fund 1,151.00 1,151.70 0.26% FBN Heritage Fund 151.50 152.83 8.67% FBN Money Market Fund 100.00 100.00 13.94% FBN Nigeria Eurobond (USD) Fund - Institutional $112.02 $112.52 -0.80% FBN Nigeria Eurobond (USD) Fund - Retail $112.02 $112.52 -0.71% FBN Nigeria Smart Beta Equity Fund 183.43 186.23 13.82% 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 3.02 3.02 4.82% 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 3,199.49 3,232.84 7.17% Coral Income Fund 2,599.18 2,599.18 6.22% GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund 100.00 100.00 13.56% Nigeria Entertainment Fund 103.06 103.90 3.02% 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 13.56% Vantage Balanced Fund 2.21 2.24 5.02% Vantage Guaranteed Income Fund 1.00 1.00 15.67% Kedari Investment Fund (KIF) 120.23 120.65 4.56%

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 1.19 1.21 3.65% Lotus Halal Fixed Income Fund 1,065.58 1,065.58 5.71% 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 N/A N/A N/A PACAM Fixed Income Fund N/A N/A N/A PACAM Money Market Fund N/A N/A N/A 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 130.51 133.00 1.41% 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 1.57 1.57 5.71% 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 2,411.62 2,432.42 7.53% Stanbic IBTC Bond Fund 184.79 184.79 4.73% Stanbic IBTC Ethical Fund 1.09 1.10 8.42% Stanbic IBTC Guaranteed Investment Fund 233.92 233.99 6.22% Stanbic IBTC Iman Fund 187.40 189.39 4.61% Stanbic IBTC Money Market Fund 100.00 100.00 13.18% Stanbic IBTC Nigerian Equity Fund 10,361.42 10,501.18 7.15% Stanbic IBTC Dollar Fund (USD) 1.09 1.09 2.75% 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 1.18% United Capital Bond Fund 1.66 1.66 5.92% United Capital Equity Fund 0.98 1.00 7.17% United Capital Money Market Fund 1.00 1.00 12.79% United Capital Eurobond Fund 105.62 105.62 2.65% United Capital Wealth for Women Fund 1.14 1.15 4.70% 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 13.49 13.69 7.60% Zenith Ethical Fund 14.04 14.20 6.74% Zenith Income Fund 20.07 20.07 6.09% Zenith Money Market Fund 1.00 1.00 13.01%

REITS NAV Per Share

Yield / T-Rtn

10.00 135.12 51.22

-11.35% 2.01%

Bid Price

Offer Price

Yield / T-Rtn

12.72 161.16 119.89

12.82 164.54 122.09

4.92% 12.82% 9.72%

Fund Name FSDH UPDC Real Estate Investment Fund SFS Skye Shelter Fund Union Homes REIT

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

5.23 9.70 18.99 20.92 146.28

5.27 9.78 19.09 21.12 148.28

10.26% 1.35% 8.31% 6.32% 6.83%

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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NEWSEXTRA

Shell’s Bonga Field Achieves 763m Barrels of Oil Since Inception Ejiofor Alike Shell Nigeria Exploration and Production Company (SNEPCo) has stated that it delivered a total of 763 million barrels of oil from the Bonga field between first production in 2005 and 2017.

The oil giant also stated that it expanded the field with further drilling of wells in Bonga Phases 2 and 3 and through a subsea tie-back that unlocked the nearby Bonga North West field in August 2014.

SNEPCo’s Managing Director, Mr. Bayo Ojulari said yesterday in a statement issued by a spokesman of the company, Mr. Bamidele Odugbesan that “the success story at Bonga is not only that it is Nigeria’s first oil and gas production project in more than 1,000 metres of water, or that It increased Nigeria’s oil production capacity by 10 per cent in 2005.”

“The main point is that Bonga is a Nigerian venture delivered by Nigerians using global expertise and processes offered by Shell that have launched Nigeria into the league of notable deep -water players,” Ojulari said.

He identified the Bonga turnaround maintenance in March and April 2017 as a significant milestone in SNEPCo’s operations.

This was the most complex and largest of the three previous turnaround maintenances in the 12-year history of Bonga, and has helped to ensure safe and sustained production and reduced unscheduled production deferments. More than 1,000 people and more than 50 Nigerian contractor and sub-contractor companies participated in the exercise.

Another milestone was the refurbishment of five subsea trees in 2015 at a fabrication yard at Onne in Rivers State, the first in Sub-Saharan Africa with Nigerian engineers and technicians playing key roles.

The feat is consistent with the growth of support industries from Bonga operations which have boosted demand for a range of goods and services including offshore vessels and platforms, materials, floating hotels, helicopters and manpower, creating jobs and providing a range of training and maintenance services to the industry locally.

Working in close collaboration with the Nigerian National Petroleum Corporation (NNPC,) the concessionaire and co-venture partners, SNEPCo has implemented a robust social investment portfolio

In Fence-Mending Move, Fayemi Visits Oni, Others Bamidele , APC congratulate minister Victor Ogunje in Ado Ekiti As a way of mending fences and reducing the post-primary crisis in the All Progressives Congress (APC), the governorship candidate of the party and Minister of Mines and Steel Development , Dr Kayode Fayemi, has visited some of the bigwigs who contested against him in last Saturday’s governorship primary in Ekiti State.

This was as the former governor cautioned his supporters against harbouring any ill feelings towards his co-contestants and their supporters, saying that they are all leaders who should be accorded great respect in view of their sterling qualities and contributions to the party.

The minister who was accompanied by APC Ekiti State Chairman, Chief Jide Awe, and some chieftains of the party visited Mr. Segun Oni at his Ifaki-Ekiti country home early yesterday morning.

Thereafter, he visited Hon Femi Bamisile, another aspirant and former Speaker of the state House of Assembly at his Ado-Ekiti residence.

Fayemi also visited Mr. Kola Alabi and Dr. Wole Oluyede, at their respective residences in Ikere –Ekiti as well as Senator Gbenga Aluko at his Ode-Ekiti country home.

Fayemi, stated this while addressing his supporters at the headquarters of his campaign office, shortly after he emerged as the APC standard bearer for the July 14 governorship election.

The APC candidate noted that the activities of all the aspirants in the past few months had further strengthened the party, adding that any of the aspirants would have made a better governor than any candidate the PDP could present.

“We are one big family. We cannot all win in an election. But one thing I know is that all the contestants are eminent Ekiti sons and daughters who are qualified to govern the state better than the present occupier of the office.

“Therefore as we go into the election, we must see ourselves as members of the same family who deserve mutual respect. No more social media and verbal attacks henceforth.

Our only enemy is the PDP.” Meanwhile, former federal parliamentarian and chieftain of the APC, Opeyemi Bamidele, has congratulated Fayemi on his emergence as the party’s standard bearer for the July 14 governorship poll.

Bamidele predicted a smooth victory for the APC in the coming election, reminding that this would only be attainable with unity of purpose and cohesiveness within the party’s ranks.

In a statement he personally signed on the victory, Bamidele prayed for divine wisdom and wherewithal for the former governor to be able to record success in the task God has again placed on his shoulders.

He described Fayemi as a consummate politician with vast experience in administration, being a former governor and serving minister, exuding confidence that the Minister will deliver and bring the lost glory ofthe party back in the coming election.

He urged him and other party leaders to immediately initiate a fence-mending move to pacify all the aggrieved and unite all the existing caucuses within the party for the dream to reclaim Ekiti from the Peoples Democratic Party(PDP) to come to fruition.

that has made visible impact in the six geopolitical zones of Nigeria.

Ojulari paid tribute to the staff and contractor personnel who have worked hard to ensure sustained production at Bonga, thereby

creating a stable source of revenue for all stakeholders particularly the Nigerian government.

He added: “We are working hard to strengthen the Nigerian connection. It is not a coincidence

that, since 2005, the Managing Director of SNEPCo has been Nigerian and today, 96 per cent of SNEPCo’s staff is Nigerian.

SNEPCo is also committed to further unlocking Nigeria’s deep-

water resources and along with its co-venture and government partners is evaluating opportunities to further increase production of the Bonga field in an efficient and cost-effective way.”

AIG’S PANEL OF ADVISORS

L-R: Members, Africa Initiative for Governance (AIG) Panel of Advisors, Mr. Olusegun Adeniyi; Dr. Ajoritsedere Awosika; Mr. Ernest Ebi; Dr. Enase Okonedo; Founder & Chairman, AIG, Mr. Aigboje Aig-Imoukhuede; Member, AIG Panel of Advisors, Mrs. Yemisi Ayeni; and Chief Executive Officer, AIG, Ms. Chienye Ogwo, at the AIG Panel of Advisors’ meeting in Lagos.... Friday

APC Plunging Nigeria intoViolence, Anarchy, Says PDP

Rejects results of Kaduna LG polls Onyebuchi Ezigbo in Abuja The Peoples Democratic Party (PDP) has accused the All Progressives Congress (APC) of pushing the country to its brink, alleging that the ruling party has been fuelling actions that instigate bloody conflicts and breakdown of law and order among Nigerians.

PDP has also condemned the outcome of last Saturday’s local council election held in Kaduna State, describing it as fraudulent.

The party said it was terrified by the spate of violence, mayhem, bloodletting and massive corruption associated with APC both in governance and its internal activities.

In a statement issued by its National Publicity Secretary, Kola Ologbondiyan, PDP said APC had turned an ordinary congress to elect its officials to a threat to our democracy.

“Since its emergence, the APC and its leaders have continued to drag our country towards a state of anarchy by engaging in actions that instigate bloody conflicts and breakdown of law and order among Nigerians, including in their fold as a party,” it said.

The opposition party said Nigerians had watched with bewilderment and disbelief as indescribable savagery, cruelty, violence, shooting and bloodletting enveloped the APC ward congress, which ordinarily should be a civil interaction among party members.

“From the rascally attempt to overrun a court of competent jurisdiction in Port Harcourt, Rivers State to halt the wheel of justice, the burning of their own secretariat in Owerri, Imo State, the gruesome murder of their own

members in Lagos and Oyo States to the malignant disputation and lust for power by its leaders across the nation, it is clear that the APC is not organic but a soulless mob without any form of conscience and integrity; an ‘evil wind that blows no good.’

“Party congresses are designed to allow members interface and resolve divergences amicably.

It is therefore instructive that the APC could not actuate this simplest tradition of political parties, making its congress a threat to our democracy.

“APC has become a symbol and harbinger of malevolence, which, by every indication, is on a sordid throttle of taking our nation to the long forgotten state of nature where only the mighty rules; the state of anarchy.

“From its cannibalistic proclivities, the world can see why the APC and its insensitive federal government care less about the lives and welfare of Nigerians, resulting in the escalation of violence, bloodletting, mass killings, extra-judicial executions, persecution of citizens, abuse of human rights, constitutional violations, including invasion of the National Assembly as well as attack on federal lawmakers and judicial officers. We now know the roots of APC’s harsh economic policies and massive corruption that led to the biting economic recession and its attendant hunger, starvation and lack ravaging our nation today.

“Nigerians are now on a consensus that things can only get worse with the APC owing to its proclivity for vengeance, violence and repression,” said PDP.

The party charged Nigerians, irrespective of creed, class or sectional persuasion, to be at alert, look beyond personal interests, rise in unison and use all democratic instruments to stop the APC in this dangerous drive to further wreck our nation and plunge it into a state of anarchy.

“On our own part, the rebranded PDP remains open as the credible platform for all Nigerians to coalesce in the collective quest to rescue our nation from the clutches of the APC and the President Buhari-led administration, come 2019,” it added.

Meanwhile, the PDP has rejected the results from the local government elections in Kaduna State.

A statement issued by its spokesman described the exercise “as highly provocative, fraudulent and completely indefensible the alteration of final results and declaration of the APC as winner in areas clearly won by the PDP in the Kaduna State local council elections held on Saturday.

“From the reports of results at the polling centers, it is clear that the PDP defeated the APC in most of the areas where elections held across the state, including Governor Nasir el-Rufai’s ward where the PDP led with over 90 per cent of the votes cast.

“The result of this election is a clear testimony of our popularity in the state. As such, PDP rejects the fraud by Kaduna State Independent Electoral Commission (KADSIECOM) in altering the results in favour of APC. “It is totally intolerable for KADSIECOM, working in cahoots with the discredited APC, to engage

in the manipulation of the collation process by changing the figures and announcing final results that are different from figures tallied at the polling centers,” it said.

According to PDP such daylight robbery by the APC is absolutely unacceptable, particularly, given the precarious security situation in the state.

“We have preponderance of instances where final electoral officers were whisked away to unknown destinations by agents of Kaduna State government, aided by security agencies, while fake results are being announced in favour of the APC. “For instance, while voters and party agents were still waiting for the return of electoral officer, Mr. Elisha Gandu at the Kajuru Local Government secretariat where results from polling centers show that the PDP won 9 out of the 10 wards, the Nagarta Radio was busy announcing APC as winner.

“This is the situation in most of the final results so far announced by the commission and we cannot accept such.

“We want the APC and KADSIECOM to note that the PDP has eyes everywhere, monitored the entire balloting processes at all levels and know directly how all the parties, including our great party, the PDP performed in all the polling centers across Kaduna state.

“KADSIECOM Chairman must note that the entire world is watching and history beckons as she makes her decision to stand either on the side of truth, justice and honour or on the side of corruption, treachery and infamy,” said the party.

MONDAY MAY 14, 2018 ˾ T H I S D AY

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APC LG CONGRESSES...

APC LG CONGRESSES...

Okorocha Loses Again, Tackles Oyegun, Izunaso, Others over LG Congresses Araraume: We need to stop the governor from destroying Imo Our Correspondents Imo State Governor, Rochas Okorocha, yesterday took a swipe at the National Chairman of the All Progressives Congress (APC), Chief John Odigie-Oyegun, and National Organising Secretary, Senator Osita Izunaso, accusing the duo and other top hierarchy of the party of conspiracy and engaging in fraudulent activities in the just concluded wards and local government congresses.

Okorocha, who pointedly accused the APC chairman of conniving with his political enemies in Imo State to derail him, promised to go the whole hog in exposing the corruption in the APC under Oyegun.

The governor hinted that the decisions taken under his watch as the Chairman of the Progressives Governors’ Forum, where he opposed the tenure elongation of the APC National Working Committee (NWC), might have irked Oyegun, leading to his attempt to frustrate and truncate his political future using the ongoing congresses of the party.

He also lambasted the trio of Izunaso, Senator Hope Uzodimma and Senator Ben Uwajumogu for their alleged nefarious activities in dethroning him as the leader of the party in the state.

Speaking on efforts by the APC national chairman and his political ‘enemies’ to manipulate the congresses, Okorocha said: “I’m here to intimate you of the happenings in my state. Only yesterday, I learnt of the party’s office gutted by fire. I think this is as a result of agitation or what has been happening in the state as a result of the purported congress which was meant to hold in the state last Saturday.

“I have informed the public that there was no congress whatsoever in Imo State, rather, the materials for the congress were missing and it was traced to the house of the APC National Organising Secretary.

“We have informed the police and the security agencies that the materials were missing in the house of the national organising secretary and that have prompted a lot agitation.”

The governor added that he personally went to Oyegun’s office and met with him, “and I did request from him the position and terms of this our congresses whether they have been cancelled or not.

“He was not categorical with his statement as to whether it was cancelled or not but said he was waiting for the appeal members.

Fortunately, while there, the secretary of the appeal panel came to the national secretariat and she was interviewed where she said there was no congress in Imo State, adding that there was even no material not to talk about congress being held.

“She stated that those who submitted the result sheet should tell the security agencies how they conducted the congress and got the result sheet, only for us to hear today that no result is in the party’s office.”

Okorocha accused the APC national chairman of lying, adding that “this means the party lied that they have gotten the result. Everything there looks funny, it looks like some kind of mischievous connivance of people trying to make up things, cook up stories and tell people that this is how I lie.

“I see the chairman as a man of integrity, and he must be very careful not to allow this Imo State matter remove his integrity in this country, because as he’s aging, he should not to allow this to dent his political image as history would not write well about him. For him to come out publicly to tell the world that there was congress when there was no congress and that he has received result sheet when they have not seen result sheet, that is not good for our party.”

He further accused the NWC of conducting the congresses for themselves rather than ensuring the promotion of the party.

Okorocha alleged that as a result of the vested interest of the NWC in the congresses, the whole process have been messed up.

Meanwhile, a governorship aspirant in Imo State, Senator Ifeanyi Araraume, has said that ‘’all well-meaning citizens’’ in Imo State are in agreement to stop Okorocha from further destroying the state.

He stated this in Abuja yesterday in a statement signed by his Media Adviser, Mr. I k Ogbonna. According to him, “From the political class to the academic, from professionals to the clergy, the traditional institutions and even artisans in Imo State are in agreement, beyond partisan, sectional, religious and cultural boundaries to stop Okorocha from further destroying the state, economically, politically, culturally. ‘’In the last couple of months, Governor Okorocha has been raining abuses on every political leader of note in the state, including his predecessors, dead or alive.’’

According to the APC chieftain, the interest of strong political forces in the state that are determined to stop Okorocha goes beyond the allusions made by the governor. ‘’It is worth pointing out that by his statement, the governor has admitted that he is at war with the entire political class in the state. For instance, his inclusion of his two immediate predecessors, Governors Ikedi Ohakim and Achike Udenwa, as being members of a certain coalition that intends to distract him is a clear demonstration of this. ‘’Added to this is the fact that he is at loggerheads with his deputy and the two senators in his party. It was perhaps for want of proper language that the governor resorted to the use of the word coalition.

But even a fresh man in a political science class knows that that the word coalition is a clear misnomer in the present circumstances in Imo State.’’

Party Rejects Congresses in Four Edo Councils

The leadership of the All Progressives Congress in Edo State has rejected the list of elected executives from four of the 18 local government areas where parallel or no congresses were held during last Saturday in the state.

The affected local governments are Owan East, Owan West, Akoko-

Nasarawa State Governor and Chairman, Ekiti State Governorship Primary Election Committee, Tanko Al-Makura, presenting the Certificate of Return to the winner of the governorship primary, Dr. Kayode Fayemi, in Ado Ekiti…yesterday Edo and Ovia North East.

In Owan East, “no congress was held because of clash of interest between Deputy Whip of the House of Representatives, Hon Pally Iriase, and the council Chairman, Andrew Osigwe, backed by one Alhaji Lawani Ganiyu.

“Consequently two persons were injured during a fracas that ensued even as some APC leaders boycotted the local government congress in Egor Local Government Area for reasons yet to be stated.”

In Ovia North East, the party leaders said the parallel congress was as a result of the leaders agreeing on harmonisation and consensus which prompted the presentation of two lists of elected executives.

Similarly, the party leader alleged that parallel congresses were held in Owan West due to tussle between factions loyal to Prof. Julius Ihonvbere and former Deputy Governor, Reverend Peter Obadan, on one side and Hon Ojo Asein, member, representing the area at the state House of Assembly and council chairman, Frank Ilaboya, on the other side.

On his part, Iriase said the way out of the lock jam in Owan East and elsewhere was for a few leaders to sit down and resolve the issue based on the directives of APC NEC that at the present zoning arrangement be retained.

Iriase, who insisted that no congress was held in Owan East because some persons rejected the present zoning arrangement, added that it was too late for positions to be rezoned at this time.

However, in other parts of the state where the congresses were peaceful, Monday Osoh was elected Chairman of APC in Esan South East while Mr. Ogbejele Idojei was elected chairman of Esan North East Local Government Area.

Leader of the party in the locality, Prince Joe Okojie, said the peaceful congress has shown that the party has been repositioned for electoral victory. Okojie said the party members were happy that they were carried along during the consensus arrangement. Similarly, in Ovia South West, Mr. Peter Ajayi was elected the chairman.

Emerhor: ‘Unity List’ Made APC Congress Peaceful in Delta

The All Progressives Congress (APC) leader in Delta State, Olorogun O’tega Emerhor, has said the “unity list” which all party faithful affirmed during last Saturday chairmanship congress covers all party stakeholders interest in the state.

Emerhor who addressed journalists after the congress at the APC party secretariat in Ughelli, disclosed that having led a group of seven governorship candidates that have agreed to work together at the APC local government congress so that they don’t fight themselves, the party came up with a consensus list.

He said the exercise was just an affirmation of the consensus list after reconciling and coming up with a list that represents all interests in the party. Emerhor noted that “the congresses, as long as they cover the interest of people, generate trust, hence the peaceful conduct of the exercise from Delta North to Delta South.”

The APC state leader further revealed that there is a group that didn’t join the unity group, but added that he did not know their motives, adding that majority always carries the day, and having been defeated at the ward level, it wouldn’t be possible to contest at the local government level.

He congratulated all party members for their peaceful conduct during the exercise which produced Chief Felix Ikure as the Chairman of the party in Ughelli North and urged them to work hard in order to deliver the party in the real election. On his part, Executive

Director of Projects, NDDC, Ajogbe, also applauded the peaceful conduct of the exercise.

He said it was a consensus list which covers all interest in the party, and their coming was just to affirm that the congress was held.

Onyeama: Why We Organised Parallel Congress in Enugu

The Minister of Foreign Affairs, Mr. Geoffrey Onyeama, has said his faction of All Progressives Congress (APC) in Enugu State organised parallel congresses in the 17 local government areas of the state when his efforts to unite all the contending groups proved abortive.

The minister and the Director General, Voice of Nigeria (VON), Mr. Osita Okechukwu, had emerged as national delegates from Udi Local Government Area in their parallel congresses.

The camp of the VON DG equally elected Mr. Charles Chime and Mrs. Maureen Anosike as national delegates, while the minister’s camp also elected the SSA to the President on Judicial Reforms, Mrs. Juliet Ibekaku, and Mr. Flavour Eze as national delegates.

The minister alleged that the efforts he made to harmonise the previous ward congress in the state in order to have a single democratic process and free and fair election proved abortive as the national congress committee led by Dr. Ikechukwu Odikpo and state Chairman of the party, Dr. Ben Nwoye, worked against his efforts.

According to him, “The chairman of the national congress committee claims that the National Working Committee (NWC) said he should only meet with the state chairman. The chairman of the state party himself is interested in competing... “And he completely excluded everybody else. In fact, he excluded the majority. So what happened is exactly what you should expect to happen. We have gone on with parallel congress.”

Meanwhile, the local government congress committee for the state has dismissed reported claims of a parallel congress in the state at the weekend. Chairman of the six-man committee, Dr. Ikechukwu Odigbo, said his committee conducted a peaceful congress across the 17 local government areas of the state.

While dismissing claims of a parallel congress by Onyeama, he said the committee adhered strictly to the guidelines for the congress as laid down by the NWC of the party.

Kwara Gov Seeks Unity Among Members

Kwara State Governor, Alhaji Abdulfatah Ahmed, at the weekend reiterated the need for the All Progressives Congress (APC) members in the state to close ranks and work together for the progress of the party and the future of its members.

Ahmed in a statement issued in Ilorin and signed by his Chief Press Secretary, Abdulwahab Oba, yesterday urged party faithful and supporters in state to remain calm and maintain their support for the party. He said the outcome of the last Saturday’s APC local government congresses in the state further reflected the capacity of the party as a formidable platform for good governance in the state.

The governor emphasised that the loyalty of APC members to the party structure is very key for overall development and growth of individuals and the state at large.

Ahmed also warned members of the party against anti-party activities for extraneous or personal reasons which could impact negatively on the party. According to him, “Everyone must eschew bitterness, individualism and extremism. We must remain united.

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APC LG CONGRESSES...

APC LG CONGRESSES...

Uzodimma’s Aide Nabbed in Hotel Room with Result Sheets Senator disowns aide The Force Headquarters on Saturday night paraded four persons arrested in an Abuja hotel with result sheets of last week’s ward congress in Imo State Among the suspects was one Mr. Ipanesie Innocent, a Special Assistant to Senator Hope Uzodinma on Electoral Matters.

The suspects, who were paraded at the Force Headquarters by Mr. Jimoh Moshood, Force Headquarters’ spokesman, were picked up in a hotel located in Wuse 2 area of the Federal Capital Territory (FCT).

The suspects’ name were given as Ipanesie Innocent, 39 years, from Mbaise Local Government Area of Imo State; Kelechi Alfonne, 37 years old, from Isiala Ngwa North Local Government Area of Abia State; Lawrence Archibong, 34 years old, from Akpabuyo Local Government Area of Cross River State and Joseph Martins, 28 years old from Ikwo Local Government Area of Ebonyi State.

Items recovered from them, according to Moshood, were 68 pieces of APC ward congress result sheets, 130 APC ward delegate forms and 6 APC local government result sheets.

Moshood said the suspects were arrested in the early hours of yesterday in the hotel where they were lodging.

“During the course of interrogating them, they mentioned one Dr Mike Njoku who is the Zonal coordinator of Owerri Municipality to Senator Hope Uzodimma, who is a serving senator.

“The suspects were arrested in the early hours of today in a hotel called Faraji Hotel in Wuse 2 area of Abuja,” Moshood said.

According to him, “They were arrested for being in possession of ward congress materials that belong to Imo State.”

He added: ”You are aware that the Ward congress supposed to have been held in Imo State on May 5 but it was shifted because of the fact that this group and their sponsors stole the election materials and hijacked the process to an unknown destination.

“The police have since commenced investigation into the unlawful and criminal act and this is the result that we are having today. During the course of interrogating them, they mentioned one Njoku who is the zonal coordinator of Owerri municipality to Senator Hope Uzodimma, who is a serving senator of the Federal Republic of Nigeria.

“And I equally want to draw you a little bit back to let you know that Ipanesie Innocent is the SA in Electoral Matters to the same Senator Hope Uzodimma.”

He said the Nigeria Police Force was fully determined and well prepared for the 2019 general election and their preparation was in three phases - the pre-election period, the elections proper and the post election period.

“People should know that we won’t tolerate any act of lawlessness before the election, during the election and after elections.

“On this note, the police wish to plead with the players to do what they are going to do in conformity with the Electoral Act. Nobody, no matter how highly placed, would be allowed to truncate the process.

“It is consequent upon this that the Inspector General of Police has directed the Commissioners of Police and their supervising Assistant Inspectors-General of Police across the country to ensure that the primaries that are going on in all the political parties are conducted devoid of any violence and equally ensure that any group or individuals that try to truncate the process are immediately apprehended and prosecuted in accordance with the laid down law,” he said.

However, Uzodimma has dissociated himself from the result sheets.

In a statement in Abuja yesterday by the Director General of the Hope Uzodimma Campaign Organisation (HUCO), Hon. Christopher Osuala, the senator also disowned Ikpamezie who claimed to be his Senior Special Assistant (SSA) on Electoral Matters.

Osuala maintained in the statement that as a senator, “there is no provision for the senator to appoint a SSA on electoral matters and he never did. All staff are employed and seconded to senators by the National Assembly Service Commission.”

The statement read: “Our attention has been drawn to the press conference by the Force Public Relations Officer (FPRO), Moshood, during which he paraded some persons for purportedly stealing materials meant for congresses in Imo State.

“One of the said suspects –Innocent Ikpamezie who claimed to be a Senior Special Assistant (SSA) on Electoral Matters to Uzodimma, is not the senator’s staff.

“As a senator of the Federal Republic of Nigeria, there is no provision for the senator to appoint a SSA on Electoral Matters and he never did. All staff are employed and seconded to senators by the National Assembly Service Commission.”

The Director General alleged that the desperation of the Imo State Governor, Mr. Rochas Okorocha to discredit the ward congresses that were held in Imo State on May 5, 2018, obviously manifested in this apparent concoction.

“It is clear that Okorocha continues to oppose Uzodimma’s entry into the APC and had vowed openly on public media to stop the Senator’s participation in APC’s activities, otherwise how can one justify the facts that: · It was Okorocha and his aides who reportedly arrested the so- called senator’s aide with the others in a hotel and hurriedly took them to the Federal Special Anti-Robbery Squad (FSARS) where they were immediately transferred to the Force Headquarters Abuja and a press conference hurriedly organised without reaching the Senator to find out whether the alleged SSA on Electoral Maters was his staff.”

Delta Congress Peaceful, Says Omo Agege

The senator representing Delta Central Senatorial District at the National Assembly, Obaisi Ovie Omo-Agege, has described the All Progressives Congress, local government Congress held in Delta

Members of the All Progressives Congress (APC) during a rally in Ondo… recently State as very peaceful.

The Senator, who spoke to journalists in reaction to the congress on Saturday, said he was happy that contrary to what happened in neighbouring Rivers State, progressives in Delta conducted themselves very well throughout the period the exercise held.

“The congress has come and gone. We are happy with the outcome. Our supporters and those affiliated with us have come victorious”, he enthused.

The senator expressed his gratitude to all the Chairmen and members of the LG executive who emerged from the Congress and congratulated state delegates that were also elected.

“Also those who emerged as state delegates from the national delegate, my congratulations to them. I also wish to congratulate the state led executive under Prophet Jones Erue, for the leadership it provided. There was little or no violence”, he said. He implored the local government executives elected to manage the affairs of their party in Delta’s 25 local government areas.

While commending the Sani Dododo-led congress committee from Abuja for keeping to the constitution in carrying out their duties, the senator described as fruitless, efforts of some persons who held parallel congresses in the state. He however believes “that everything will be sorted out in due time and the renegades will return to the path of due process and rule of law.

Party Holds Parallel Congresses in Oyo as Communication Minister Chides Ajimobi

The internal strife within the ruling All Progressives Congress (APC) continued yesterday in Oyo State as a faction loyal to the state Governor, Abiola Ajimobi, and another group ‘Unity Forum’ conducted parallel local government congresses across the state.

Though very peaceful, both camps, for the second time in one week, again claimed victory in the local government Congresses like the ward congress held last Sunday.

This development also coincided with the weekend’s council polls conducted by the state Independent Electoral Commission.

As at 7 p.m. the ruling party was still winning in about 50 local governments and LCDAs where the elections held on Saturday.

While the faction loyal to governor of the state held its congresses at local government secretariat across the state, the aggrieved faction (unity group) had its own in school premises and party secretariat in their various communities.

The Secretary of the Unity Forum, Dr. Wasiu Olatunbosun, who spoke with journalists on why the party held parallel congresses said the unity forum decided to hold its congress because it is the one that has legal right to partake in the election.

Olatunbosun said “I don’t know where they generated their delegates’ list because they did not buy forms for ward congress last week. As at May 4, they have not paid for the forms. They did not have tellers, so where did they generate their own ward and local government delegates’ list? As at Saturday, May 5, they could not produce the tellers for the forms.

“So, where did they get the tellers and forms? It is the APC Unity Forum that has the right to conduct APC ward congress because we bought forms. That is where we have delegates list for the local government congress. What matter to us is that we have our own congress,” Olatunbosun said.

Meanwhile, the Minister of Communications, Adebayo Shittu,

has chided the governor for the crisis plaguing the party, just as he alleged the congresses committee from Abuja of bias and compromise.

The minister who spoke at a press conference held at the secretariat of the correspondents chapel of the Nigeria Union of Journalists in Ibadan on Saturday said the forms purchased by his group were not accepted for submission by the congress committee from Abuja.

Shittu said the committee however received 700 forms allegedly purchased illegally by the group loyal to the governor.

The minister, who noted that his group had petitioned the national secretariat of the party on the development, added that the state chapter of the party would not know peace until justice is done.

Shittu threatened that if impunity continued in the party, the group may not have option than to approach court to resolve the crisis.

“The Ajimobi group eventually paid for 700 forms out of about 9,600 forms and they backdated the tellers. Most of the forms were bought from Ajimobi’s senatorial district.

The committee were thoroughly compromised and we have all the figures but I would not disclose them now because people around them will always give us information about them.”

Congress Turns Bloody in Ondo

The All Progressives Congress (APC) local government congress at Irele Local Government Area of Ondo State turned bloody at the weekend leading to injuries on several persons.

The injured included the former lawmaker, representing the area at the House of Assembly, Hon. Afolabi Iwalewa, and the current Caretaker Chairman of the local government area, Prince Gbadebo Odimayo.

Iwalewa in a telephone interview told journalists that trouble started when the leader of the party allegedly led some hoodlums to the venue of the congress.

According to him, members of the party in the local government had assembled at the party secretariat for the exercise, waiting for the officials and party leaders but most of the members were disappointed when they learnt that the congress would not hold.

Iwalewa said some leaders of the party in the local government area, insisted that the current executives of the party at the local government level should continue in that capacity while we wanted a congress to usher in new leaders.

“They invaded the party secretariat with hoodlums numbering 30 and started shooting sporadically into the air to scare away people while some people were matchetted and beaten to coma.

The former lawmaker said he ran into the chairman office’s and they came out together after the caretaker chairman had called the security agents, but said the presence of the security operatives could not save him as the hoodlums descended on him and inflicted injuries on him.

He, however, said he was rescued by the policeman and taken away from the scene of the incident with the police Hilux van.

The Caretaker Chairman, Odimayo, corroborated Iwalewa’s, pointing towards Igbasan as the mastermind of the violence during the congress in the local government area, saying Igbasan and his team were indisposed to conducting a congress.

Odimayo said he was not in support of the leader and his group to allow the current executives to continue since there was no directive to the effect.

He, however, said he left the place unhurt because “most of the thugs knew him and could not beat him but warned him to leave the venue immediately but said “my special Assistant was critically lying in the hospital, while a supervisor in the local government was also beaten to coma.”

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MONDAY MAY 14, 2018 ˾ T H I S D AY

NEWSEXTRA

Babalakin: Nigerian Intelligentsias are Endangered Species Gives 13 best UNILAG students N150,000 each The Pro-Chancellor and Chairman, Governing Council, the University of Lagos (UNILAG), Dr. Wale Babalakin (SAN), has described the Nigerian Intelligentsia as “an endangered species.”

The lawyer, who spoke during the 49th Convocation Ceremony of UNILAG, also gave a N150,000 cash gift to each of the 11 best graduating students from the Faculty of Law and two of their counterparts from the Distant Learning Institute.

Defining the intelligentsia as “The people in a society who are highly educated and often concern themselves with ideas and new development”, Babalakin said: “The Nigerian intelligentsia have largely lost out in the battle for Nigeria.

Today I’m making a clarion call to you all that it is not sufficient to earn a living. It is not sufficient to be well paid. It is more important to participate in the development of your country. For having the courage to pursue a subsequent degree, you have already shown clearly that you intend to be part of the intelligentsia, but it shouldn’t end there.

We hope we’ll see UNILAG graduates actively participating in all aspects of government and the civil society; and generally found in places where we are seeking to enhance our nation.

“An endangered species is the type of animal that will soon disappear from the world. We have to stop this.

Not by running away; not by saying that governance is for those who cannot do better.

Governance is for us all. Let us participate. Let us contribute, so that at the end of the day, we will create a great nation.

I have no doubt in my mind that UNILAG is at the fore front of making this happen.

Be determined. Be ready to turn every stumbling block into a stepping stone for the attainment of a greater height.

It is important for you to be change agents in the society.

The society can only develop if we have a united elite determined to protect the gains of the society. If you look round at all the societies that have sustained their growth, it has happened because of the selfless interest of the elite. The dictionary describes the elite as a body of people who are interested in developing the society with the knowledge they have. That is who I want you to be because fortune will fade away rapidly, generations of good people have passed on anonymously, but those who live for long are the ones who live in the minds of people and those who commit their efforts to changing the society.

“To lawyers, you have been endowed with a special training. A training that allows you, if well-absorbed, to participate in every part of the society with unusual distinction. Don’t allow anybody to categorise you.

Don’t let them tell you that because you are a lawyer, you can’t be an administrator, an infrastructure developer or an outstanding engineer. You have been trained to have an open mind to be able to absorb information, distill it and use it properly.

“I want you to know that diligence is the mother of goodluck. As you go out there, do not be discouraged. Do not be intimidated. Do not allow those who will tell you that things are impossible to be in your circle of friends. You need those who believe that whatever the challenge is, there must be a way out.

That is the sort of association you should keep. As tough as things are, apparently, a lot of successes are still emerging.

They are emerging because they have defied the odds. If they had the attitude that things were tough and they were not

able to push forward, things will get tougher. Do not be inundated by suggestions that you are handicapped because of a challenging background, inadequate finances and so many other issues that becloud our ability to aspire. Please remain focused and know that there is no limit to the capacity of an aspiring genius. You constitute a part of the elite of the society and I urge you to be guiding lights of the policies of the elite. No society thrives unless the elite jealously guard the values of the society, protect it and propagate it. You must challenge yourselves to leave every place better than you met it. I have taken that pledge.

“It is good to have aptitude like you do but it is more important to have attitude, which will help us all to achieve this objective.

Attitude is your determination to succeed. The preponderance of great people are those who have attitude, not necessarily aptitude.

It becomes a double whammy, if you can combine both, but you should never feel handicapped because you don’t have aptitude if you have attitude. When Margaret Thatcher was in secondary school, her school report said she was ‘dull but determined’. When she went to the Bar, she was told to work under Lord Lawson, then Sir Lawson, who told her he wasn’t sure she was “coping”, and she said to him, “I will prove to you that I can cope”. Years later, she was prime minister and among those considering the elevation of Lord Lawson. She was so determined, resolute to make up for whatever deficiencies she had and she emerged as one of the greatest leaders. I want you to leave here today believing that you are destined to lead. The only place that is crowded is the lower walks of life. The higher you go, the easier it becomes, but you must be determined to get yourself out of the crowd. I look forward to hearing great things about you all.”

IPOBVows to Attack Nwodo, Others at Ohanaeze Summit David-Chyddy Eleke in Awka The Indigenous People of Biafra (IPOB) has said it will attack the leaders of Ohanaeze Ndigbo during its summit scheduled for May 12 which is billed to hold in Awka.

The group said no amount of security mobilised to the venue would stop it from carrying out its threat.

A statement by the Head of Media and Publicity Secretary of the group, Mr. Emma Powerful and made available to THISDAY in Awka yesterday stated that Chief John Nnia Nwodo and his leadership of Ohanaeze Ndigbo would be held responsible for whatever damage that accrues from the proposed summit.

IPOB had months back warned Ohanaeze Ndigbo to desist from

holding any summit that would discuss restructuring of Nigeria anywhere in Igbo land as doing so would incur its wrath.

The group said its interest was rather in a summit to discuss a referendum for Biafra than a summit on restructuring.

The statement described the leadership of Ohanaeze Ndigbo as traitors who want to celebrate their betrayal of Biafra’s freedom, using the cover of a summit.

“IPOB had since warned Nwodo and his collaborators in Ohanaeze not to bring their ‘one Nigeria’ summit to the heartland of Biafra but they remain adamant. The only way this summit can hold is unless the heaven falls on May 21.

“It seems Nwodo and his Ohanaeze Ndigbo do not

understand the language of liberty, we shall meet them head-on in Awka on May 21 at Ekwueme Square. They better bring enough squadron of their Fulani soldier friends as always to provide them protection and kill us all because the summit will not hold.

“We are urging all IPOB families to mobilise to storm not just Ekwueme Square but to saturate the whole of Anambra State and Awka from all directions on May 21, 2018.

Awka will be occupied from midnight of May 20 to 5p.m. on the 21.

“We look forward to meeting Nnia Nwodo and his Fulani soldiers in Awka on the 21st of May 2018. They better come prepared.”

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T H I S D AY ˾ MONDAY, MAY 14, 2018

MONDAYSPORTS

Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com 0811 181 3083 SMS ONLY

NFF, NIKE Open Talks on Improved Shirt Deal for Super Eagles Duro Ikhazuagbe After emerging as the first country to qualify for the World Cup 2018 in Russia with a game to spare last October, kit manufacturer, NIKE, has opened talks with the Nigeria Football Federation (NFF) with the hope of extending the shirt sponsorship with the Super Eagles.

THISDAY learnt at the weekend that the kit manufacturing giant was very impressed with the threetime African champions and is now willing to open discussions on an improved package that will be better than the previous one that had no cash backing.

A top Nigerian football official hinted on Saturday that the new NIKE deal with Eagles is likely to be concluded before Nigeria

begins campaign at Russia 2018 against Croatia. “ This time around what we are discussing with NIKE is an improved package beyond the kit-only deal we were offered the last time when Adidas refused to renew the shirt sponsorship with Super Eagles,” revealed the official who did not want his name in print.

The cheery news about the new deal on the table is that for the first time, the NFF is having direct dealings with the sportswear manufacturer instead of going through a third party.

“We have been able to eliminate the third party relationship that had always existed in the dealings with Nike over the decades. This time, we are directly dealing with the world-renowned sports

equipment giants unlike in the past where the packages are virtually released through the agents of the company,” THISDAY further learnt.

“Both sides have been talking and our teams are almost concluding the draft. The target is to conclude the deal and sign before the World Cup starts and that is very possible now given the level of work already done.

“A lot of events are usually lined up immediately after the World Cup and we all agree that it is best to work things out now.

And we are very positive that the final result will make a lot of positive impact on the brand Super Eagles and the fortunes of the team and Nigeria as a country at the World Cup. It’s all very good. I am not sure we have ever had the kind of

package we are getting this time,” stressed the reliable source.

“We have been able to prove that the federation works 100 per cent on corporate governance as seen in the best practices all over the world. The trust has continually attracted more and more sponsors and this is all good for the Super Eagles brand and Nigeria.”

If the deal pulls through, state

FAs are going to be part of the deal.

“The target is to make NIKE products accessible to the states and to make merchandising a lot easier in Nigeria. The NFF is already working on building mini secretariats and standard practice pitches for the states and the Nike angle is meant to complement those plans,” concludes the top football official,

Liverpool players celebrating the Champions League ticket after 4-0 defeat of Brighton in the last game of the season… yesterday

Pam Makes Okpekpe History Again Becomes first woman to win six straight titles Home girl Deborah Pam extended her unbeaten run at the Okpekpe International 10km Road Race to six last Saturday when she became the first Nigerian woman winner of the first IAAF silver label road race in West Africa.

Pam, 28, was the overwhelming favourite to extend her reign as the queen of the 10km road race in Nigeria and not even the torrential rainfall towards the end of the race could slow her down as she sped to her second fastest time over the distance (37 minutes and 58 seconds to win for the sixth consecutive time.

Pam’s fastest time in the event, 37 minutes and 34 seconds was achieved in an historic manner too as she raced to win the first ever IAAF bronze label 10km road race in West Africa, the inaugural edition of the Okpekpe international 10km road race in 2013.

Pam is confident she could

run faster than she did in 2013 and 2018 if she has the right environment to training and support from government and corporate Nigeria. “know I can be as good as the East Africans if I can get the necessary support.

There is no way we can compete against the Kenyans and the Ethiopians if we are neglected by government.

“Nigerians should be proud we have a silver label race in Nigeria but we will continue to play second fiddle to the East Africans if our officials fail to provide the right environment for us in terms of training and logistics,” she said.

Meanwhile, Emmanuel Gyang won the men’s race in 32 minutes,45 seconds while Gideon Goyet (32.57) and Ismail Sodiq (33.15) came second and third respectively.

It was Gyang’s second Okpekpe title after winning in 2015.

NPFL: Kano Pillars Pile Pressure on Lobi with Win against Katsina Utd Kano Pillars have now shot within striking distance of Nigeria Professional Football League (NPFL) leaders Lobi Stars after they beat Katsina 3-1 in a Northwest Derby yesterday.

Pillars now have 35 points from 21 matches, two points behind Lobi Stars, who have played two games less.

NPFL leading scorer Junior Lokosa scored a brace and provided an assist for Pillars, while Destiny Ashadi pulled a goal back for Katsina United.

Champions Plateau United moved to third place after they beat Nasarawa United 2-1.

The Jos team now have 33 points after 20 matches.

Abia Warriors have also climbed up the standings courtesy of a 1-0 win at MFM FC.

The Umuahia club is now eighth on 29 points.

Sunshine Stars eased their relegation fears when they stopped bottom team Heartland 2-1 at home.

Akwa United, Kwara United, FC Ifeanyiubah and Rivers United all recorded away wins at Enugu Rangers, Niger Tornadoes, Yobe Desert Stars and El Kanemi Warriors, respectively.

MATCH DAY 21 Tornadoes 1-1 Kwara Utd Kano Pillars 3-1 Katsina Utd Plateau Utd 2-1 Nasarawa Go Round FC 1-0 Wikki El Kanemi 1-1 Rivers Utd MFM FC 0-1 Abia Warriors Rangers 0-0 Akwa Utd Yobe Stars 1-1 Ifeanyiubah Sunshine 2-1 Heartland

Barcelona’s Unbeaten Run Ends in Nine-goal Thriller Barcelona’s 36-game unbeaten run this season came to a stunning end yesterday evening as Levante claimed all three points from the nine-goal thriller, spilt 5-4.

An Emmanuel Boateng hat-trick and an Enis Bardhi brace put Granotas in a commanding and mesmerising 5-1 lead before the hour-mark after Coutinho had rescued one back in the first

half with the scores at 2-0.

However, a superb second half fight-back, which saw the former Liverpool man seal his trio for the evening, was followed up by a Luis Suarez penalty, but it proved not to be enough to halt the Seville side recording the most famous night in the club’s history and ending Barca’s history-making hopes.

EPL: Jesus Takes City to 100 Points as Salah Seals UCL Spot for Reds Iheanacho’s goal counts for nothing in nine-goal thriller at Wembley The duo of Mohamed Salah of Liverpool and Gabriel Jesus of Manchester City were the heroes on the final day of the 2017/2018 English Premier League.

A dramatic 94th-minute winner from Gabriel Jesus gave Premier League champions Manchester City a 1-0 win over Southampton to ensure they became the first team ever to reach 100 points in an English top-flight season.

“Maybe this record will be broken but it will be difficult,” said City Manager, Pep Guardiola after his side finished 19 points ahead of nearest rivals Manchester United.

“What can I say, 100 points! We won 50 points at home and 50 away. It’s massive. One hundred points is magnificent.

“It was such a complicated game. It was so hard. The players suffered. Southampton are a physical team, so many people defending deep,” added Guardiola.

Southampton needed a point to ensure safety but Swansea’s 2-1 home defeat by Stoke means Saints will play in the top flight for a seventh successive season.

Egyptian sensation, Salah, also

set a new record of 32 goals in a 38-game EPL season when he fired the first of Liverpool’s 4-0 defeat of Brighton at Anfield yesterday.

The victory sealed Champions League place for the Reds.

Victory meant the Reds matched their fourth-place finish of last season - they would have moved up to third had Tottenham not edged a thrilling 5-4 win at home to Leicester.

It was his record goal that set the Reds on course to blowing Brighton away. The opener, a low finish from Dominic Solanke’s pass. Dejan Lovren doubled the lead by powerfully heading in Andrew Robertson’s cross and after the break it was more of the same - Liverpool continued to dominate.

Solanke smashed in his first goal for the club off the underside of the bar, having met Salah’s lay-off at the end of a strong run, while full-back Andrew Robertson also got his first Liverpool goal, sweeping in from close range with five minutes to play.

Liverpool would have slipped out of the top four had they lost and Chelsea beaten Newcastle, but they made sure the Blues’

performance - a 3-0 defeat at St James’ Park - was irrelevant.

What a remarkable season it has been for Egypt forward Salah, who signed from Roma for £34m last summer.

It was an impressive Liverpool performance on a perfect sunny afternoon at Anfield as Jurgen Klopp’s side lingered long after the final whistle, soaking up the celebratory atmosphere with the Champions League final against Real Madrid to come on May 26.

“Two weeks’ break is perfect for us,” said Klopp. “We will be ready for the final. This group of players really deserve it. They keep moving to the next level.”

Salah was the centre of attention as he was feted on his side’s home pitch after the match. There was the Golden Boot for Premier League’s top scorer to be presented, the club’s player of the year trophy too.

The forward was clearly moved, and he shared the moment with his wife and young daughter.

Elsewhere, Super Eagles forward, Kelechi Iheanacho, was on the scorers’ sheet yesterday as Tottenham Hotspur edged his Leicester City 5-4 in a nine-goal

thriller at Wembley.

Iheanacho scored a superb long range strike on 48 minutes to put Leicester 3-1 ahead. Jamie Vardy (4th, 73rd minutes) and Riyad Mahrez (16th minute) were the other scorers for Leicester.

But a brace from Harry Kane (seventh, 76th minutes), Erik Lamela (49th, 61st minutes) and an own goal from Christian Fuchs (53rd minute), secured the win for Spurs.

Also on the last day of the 2017/2018 season, Arsenal gave Arsene Wenger a parting gift in his final game as manager after 22 years in charge by winning their first points away from home in the Premier League in 2018 with a 1-0 win at Huddersfield.

“Of course it is very emotional after 1,235 games for the same club,” said Wenger. “To enjoy it we had to win it. Winning football games is what makes me happy and the boys did it.”

Club record signing PierreEmerick Aubameyang netted his 10th goal in 13 games since joining in January by finishing off the sort of free-flowing move that Wenger has made his trademark as Gunners boss.

Southern FA Chairmen Back Eagles’ Preparation for World Cup Commit to stronger football structure in the country The three geopolitical zones in the southern part of the country have promised to develop stronger bond within the region in order to foster more robust football development in the southern part of the country.

The region also passed a vote of confidence on the leadership of the Nigeria Football Federation (NFF), from its President, Mr. Amaju Melvin Pinnick, on its several brilliant programmes, including the programmes of preparation of the Super Eagles

for this year’s FIFA World Cup finals in Russia.

At a meeting in Lagos at the weekend, convened by the Chairman of the Lagos State Football Association and 1st Vice President of the NFF, Seyi Akinwunmi, the union equally resolved to encourage better bonding among the three zones, strengthen football structure within the three zones (South West, South East and South South) and to carry out regular assessment of the

different youth programmes in the zones while reviewing the same.

“The meeting also committed to encouraging brotherhood among the states in the southern region and stronger co-operation and exchange in technical and other areas of the game, and called on the leaders of the game in the region to interface and deliberate more on exchange programmes and to ensure cross-fertilisation of ideas on a regular basis,” Akinwunmi, convener of the

meeting and Chairman of the Western Nigeria Football Forum, told NFF website yesterday.

Chairmen of the Football Associations in the South West (Lagos, Oyo, Ogun, Osun, Ondo and Ekiti states); South East (Enugu, Anambra, Imo, Abia and Ebonyi states) and; South South (Edo, Delta, Bayelsa, Rivers, Cross River, Akwa Ibom) zones attended the meeting. President of the Nigeria Football Federation, Mr. Amaju Pinnick, attended as an observer.

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MISSILE Shehu Sani to APC Leadership “The Ward congress was meant to show internal democracy. It ended up revealing internal tyranny and chaos; presided over by people with the face of (Abraham) Lincoln but the heart of (Benito) Mussolini. Their tongue is change, their heart is unchanged.” – Kaduna Senator, Shehu Sani, berating the ruling All Progressives Congress (APC) for the manner in which last weekend Ward Congresses were conducted in many states of the federation.

IBRAHIMBABANGIDA GUEST COLUMNIST

Tribute to Khalifa Shaikh Isyaku Rabi’u, Khadimul Qur’an

K

halifa Shaikh Isyaku Rabi’u was a remarkable man with multiple talents. He was born in 1928 to the family of Muhammad Rabi’u Dan Tinki, a Qur’anic preacher from Bichi in Kano State. His father had established the Qur’anic School in Bichi, which he attended at an early age, from 1936 – 1942.

His quest for further education in Islam took him Maiduguri and later Zaria where he spent years studying the Qur’an and Arabic language. He then returned to Kano in 1949 as an accomplished, independent Islamic Scholar on his own with his horde of followers.

While still an instructor in Islamic education, he ventured into private enterprise in 1950. He established the company, Isyaku Rabi’u and Sons, in 1952. The company started as an agent of UAC, trading in sewing machines, religious books and bicycles. The major breakthrough for the company came in 1958 when Kaduna Textile Limited was established and it was appointed one of the major distributors. In that capacity, he distinguished himself in Northern Nigeria.

As a progressive and innovative businessman, he joined other businessmen from Kano to form the Kano Merchants Trading Company, which held its own against even older foreign consortiums.

His family holding company made rapid progress by investing in manufacturing.

Their first investment was the Kano Suit and Packaging Cases company that he established in 1970 to produce suit cases and handbags. This novel investment by an indigenous businessman was carried out as a joint venture project with Lebanese investors.

In 1972, he moved ahead to establish the Bagauda Textile Mills that specialised in producing cloths for uniforms. The company further diversified its investments into different segments of the Nigerian economy. It went into frozen food service, real estate, insurance, sugar and a motor vehicle and parts distribution company with specialty in Daihatsu products.

However, when the exchange rate of the Naira against the dollar became unfavorable, the company scaled down its manufacturing operations and returned to its more familiar roots of trading.

Khalifa Shaikh Isyaku Rabi’u

Even as a billionaire business tycoon, life to Isyaku Rabi’u was not just about making money. He maintained a humane and friendly attitude to all classes of people.

His door was always open to all that wanted to see him irrespective of ethnic origin or faith. Fridays after the Juma’a prayers were special days when people just trooped in and out to see him.

He was particularly fond of his old friends and relations from his earlier days as an itinerant Qur’anic student and preacher. His generosity to all and sundry was legendary. He interacted with all and was very immodest in sharing

his wealth with those that did not have the privilege to be as wealthy as him. He was also a man of great humour who made sure his visitors were always happy and at home with him.

Even as he believed in the unity of all Muslims, he belonged to the Tijaniyyah sect founded by Shaikh Ibrahim Inyass. He frequently organized Qur’anic recitation competitions in his house and rewarded participants very generously. His massive support and leadership role in the group led to his been named Khadimul Qur’an (the servant of Qur’an). He was similarly named the Khalifa as a result of his

While still an instructor in Islamic education, he ventured into private enterprise in 1950. He established the company, Isyaku Rabi’u and Sons, in 1952. The company started as an agent of UAC, trading in sewing machines, religious books and bicycles. The major breakthrough for the company came in 1958 when Kaduna Textile Limited was established and it was appointed one of the major distributors. In that capacity, he distinguished himself in Northern Nigeria

outstanding contribution to the spread of Islam in Nigeria and Africa.

But to Khalifa Isyaku Rabi’u, life was not just about Islam and business. He cared a lot about and loved his country Nigeria. In the Second Republic, he even went out of his way to join the National Party of Nigeria (NPN) and the party that eventually won elections in the Second Republic to lead Nigeria.

On several occasions when Nigeria was faced with a serious crisis, the Khalifa would summon Qur’anic reciters and other religious leaders from all over the country to assemble in his house and offer special prayers for the peace, prosperity and progress of Nigeria.

During his lifetime, Khalifa Isyaku Rabi’u treasured his role in society more as a preacher and Qur’anic reciter. But the legacy he left goes far beyond that. He will be remembered as a successful merchant, an accomplished industrialist, a man with a big family and a community leader and a patriotic national leader. His wives, 42 children and several grandchildren survive him.

I wish to join millions of people from far and near in mourning the passing of this legendary person who bestrode, in an unprecedented manner, the firmaments of Islamic Scholarship, the Business world and Philanthropy like a colossus. I wish to convey my deep sense of loss and condolences to his Family, the good people of Kano State and Nigeria along with multitudes of his disciples, from far and near, on the passing of Khalifa Shaikh Alhaji Isyaku Rabi’u, Khadimul Qur’an.

May his gentle soul rest in peace, Amin.

Indeed his memory shall remain alive for time because he planted many seeds, having been endowed by Allah with many Children, some of whom have started growing, emulating and propagating some of his sterling qualities and values.

His greatest known and acknowledged asset is his devotion to Islam and the Mother of all Books, namely; the Qur’an that I pray will bear him witness and protect him in the beyond, Amin.

I pray that Allah will Grant him a special place in the highest Paradise. Amin. r 'PSNFS /JHFSJBO .JMJUBSZ 1SFTJEFOU (FOFSBM *CSBIJN #BEBNBTJ #BCBOHJEB ($'3 XSJUFT GSPN .JOOB /JHFS 4UBUF

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