WEDNESDAY 6TH JUNE 2018

N’Assembly Threatens Buhari over Persecution of Opponents, Insecurity, Other Issues PDP lawmakers allegedly collate signatures to impeach president, loyalists vow to block attempt Resolutions not endorsed by APC members, says group Supporters urge Saraki to declare presidential ambition Deji Elumoye, Onyebuchi Ezigbo and James Emejo in Abuja

The National Assembly yesterday threatened President Muhammadu Buhari with impeachment

if he fails to take urgent steps to address the myriad of problems facing the nation. The National Assembly,

which emerged from a rare two-hour joint executive session, listed the problems to include rising

unemployment, poverty, insecurity, corruption, election rigging, harassment and humiliation of perceived

opponents, and violation of the rule of law. Continued on page 9

Defence Minister Pushes for Suspension of Anti-Grazing Law… Page 11 Wednesday 6 June, 2018 Vol 23. No 8448. Price: N250

www.thisdaylive.com TR

UT H

& RE A S O

N

ADVERTISEMENT

Okorocha, Abe, Onyema, Shittu, Others Lose Out as APC Ratifies State Congresses… Page 9

2

T H I S D AY ˾ ʹ˜ ͰͮͯͶ

T H I S D AY ˾ WEDNESDAY JUNE 6, 2018

3

4

T H I S D AY ˾ ʹ˜ ͰͮͯͶ

T H I S D AY ˾ WEDNESDAY JUNE 6, 2018

5

6

T H I S D AY ˾ ʹ˜ ͰͮͯͶ

T H I S D AY ˾ WEDNESDAY JUNE 6, 2018

7

8

T H I S D AY ˾ ʹ˜ ͰͮͯͶ

T H I S D AY Ëž Ëœ Í´Ëœ ͺ͸͚͜

9

PAGE NINE

Okorocha, Abe, Onyema, Shittu, Others Lose Out as APC RatiďŹ es State Congresses Oyegun, Izunaso, others must be imprisoned, says Imo gov Omololu Ogunmade, Onyebuchi Ezigbo Ă“Ă˜ ĂŒĂ&#x;ÔË Ă‹Ă˜ĂŽ Amby Uneze Ă“Ă˜ ĂĄĂ?ĂœĂœĂ“ Following the inauguration of the newly elected state chairmen as well as that of that of the Federal Capital Territory (FCT) chapter by the leadership of the All Progressives Congress (APC) on Monday, it has emerged that some of the key actors in the nationwide congresses have lost out in their bid to control the party structures in their respective states. In Rivers State, Senator Magnus Abe lost his bid to stop the recognition of Ojukaye Amachree who belonged to the group loyal to the Transportation Minister, Rotimi Chibuike Amaechi as the new state chairman. A similar fate befell the Minister of Communications, Alhaji Adebayo Shittu whose effort to wrest the party structure in Oyo State from the incumbent governor, Abiola Ajimobi hit the rocks, as the candidate who emerged from the pro-Ajimobi state congress, Chief Akin Oke was the one sworn-in as new APC chairman in the state. Added to the frustration, Shittu was said to have been prevented from entering the venue of the inauguration on Monday. His faction yesterday announced that it was leaving the party to another one where their interests will be protected. It was also an extension of his woes and nightmare for the embattled governor of Imo State,

Rochas Okorocha, who made spirited efforts to get the state congress results annulled, but could not convince the party’s National Working Committee (NWC) to do so. Accordingly, it was the candidate of the ‘Imo Restoration Coalition’, Hillary Eke who triumphed. Reacting to the swearing in of Eke, Okorocha declared yesterday that he would not rest until he sees the National Chairman of the APC, Chief John Odigie-Oyegun, the National Organising Secretary, Senator Osita Izunaso, and others imprisoned for dragging the party backwards. In Kwara, the Minister of Information and Culture, Lai Mohammed, attempted to test his popularity against Senate President Bukola Saraki, who has a firm grip on the party structures in his state. However, the APC recognised Ishola Balogun Fulani as chairman. Fulani was elected chairman by the main faction of the party loyal to Saraki, while Moshood Bolarinwa, who was elected chairman by the Kwara APC faction loyal to Mohammed, was ignored. The party also dumped Fouad Oki who was the chairman elected by a faction of the APC in Lagos and instead swore-in Tunde Balogun, who was elected chairman by the main faction loyal to the National Leader of the APC, Chief Bola Tinubu. The tussle for the control of the Enugu State chapter of the APC ended in favour

of the group loyal to the Director General of the Voice of Nigeria, Osita Okechukwu and the National Vice Chairman (Southeast) Emeka Eneukwu. Ben Nwoye who emerged from one of the parallel congresses backed by Okechukwu and Eneukwu, was confirmed by the party. The NWC had in the wake of controversies over the conduct of parallel congresses by aggrieved groups issued a statement saying that it would not recognise any congress not conducted by its congress committees. In the statement issued by the National Publicity Secretary of the APC, Mallam Bolaji Abdullahi, the party said there was no such thing as parallel congresses. “The only congress recognised by the party is that conducted in accordance with the party constitution, which was organised by the congress committee charged by the party to organise such congresses. “We therefore regard any so-called parallel congresses as an exercise in futility and attempt to cause confusion in the party,� APC had said. In Kano, Abdullahi Abass, the candidate loyal to the state governor, Abdullahi Ganduje was also sworn-in as the state chairman. Among the newly swornin state chairmen are Hon. Donatus E. Nwankpa (Abia), Alhaji Ibrahim Bilal (Adamawa), Hon. Ini Okopido (Akwa Ibom), Emeka Ibe (Anambra), Alhaji Uba Ahmed Nana (Bauchi),

Jonathan L. Amos (Bayelsa), Comrade Abba Yari (Benue), Hon. Ali Bukar Dalori (Borno), Hon. Godwin Etim John (Cross River), Chief Cyril Abeye Ogodo (Delta), Pastor Eze Nwachukwu Eze (Ebonyi), Anslem U. Ojezua (Edo) and Nitte K. Amangal (Gombe), Others include Hon. Ado Sani Kiri (Jigawa), Air Commodore Emmanuel Jekeda (rtd.) (Kaduna), Shittu S. Shittu (Katsina), Bala Sani Kangiwa (Kebbi), Abdullahi Bello (Kogi), Alhaji Tunde Balogun (Lagos), Philip Tatari Shekwo (Nasarawa), Muhammed Liman (Niger), Dikia Adebisi (Ogun), Ade Adetimehin (Ondo), Chief Akin Oke (Oyo), Hon. Letep M. Dabang (Plateau), Hon. Isa S. Achida (Sokoto), Alhaji Adamu Chilariye (Yobe), Alhaji Lawal M. Liman (Zamfara), Alhaji. Abdulmumini Vaki (Taraba) and Hon. Abdulmalik Usman (FCT). Congresses did not hold in Ekiti and Osun States.

Okorocha Continues Rant However, in reaction to the recognition of the rival faction of the party by the national executive of the APC, despite separate court injunctions ordering all parties to the suits to maintain the status quo, Okorocha said yesterday that he would leave no stone unturned until he sees Oyegun, Izunaso and others imprisoned for dragging the party backwards. He said with the manner Oyegun had piloted the affairs

of the party, it was obvious that its leaders must have over-rated his capacity by allowing him to succeed Chief Bisi Akande as the national chairman of the party. According to the Imo governor, Oyegun had taken the party backwards such that there is no state where party does not have crisis or faction. “Again, the way Chief Oyegun pursued the issue of tenure elongation also showed how selfish and greedy he is. He is not interested in the well-being or future of the party, but only interested in staying put as the national chairman of the party. That is why he is after anybody who opposed the tenure elongation. “The worst thing that would have happened to APC is to have allowed Chief Oyegun to continue as the national chairman of the party. It would have been worse for the party. “Chief Akande never tried to destroy the party because he was leaving as the pioneer chairman. But Oyegun wants to destroy the party because he is leaving. He is not patriotic,� Okorocha declared. He further stated that in the case of Imo State, Oyegun disobeyed two court orders with regard to the congresses in the state, adding that the inauguration of “strange elements� as the state officials of the party was done to get at him because he (Okorocha) fought against the tenure elongation. According to the Imo governor, “We have no option now than to ask our lawyers to press for his

imprisonment and that of Osita Izunaso and all those who were involved in the lawlessness.� The governor said the only thing Oyegun achieved in the party was to anger him (Okorocha) by encouraging people like Osita Okechukwu (VON DG) and those from Imo State to insult him, noting: “These are people who cannot win their booths in an election.� Speaking in the third party, Okorocha added: “The same elements came together during the Anambra State governorship election. The governor (Okorocha) stayed away and at the end of the day, they could not justify their noise making. “They have started again. And these are people who have been contesting elections since 2007 and have not won any. “Chief Oyegun was also quoted to have said in an interview that the South-east or Imo APC stakeholders are united against Governor Okorocha. Let them hold a South-east or Imo rally at a venue and let Rochas hold his own at another location and let’s see the outcome. “In case Chief Oyegun does not know, Imo APC members won’t allow any faction. The APC in Imo and even in the South-east is Governor Okorocha’s making. And it will be foolish for anybody to think that he would build the party and allow cowards to take it over. “If they have the political strength, let them go and pick a party and present a candidate, it will be very interesting.�

N’ASSEMBLY THREATENS BUHARI OVER PERSECUTION OF OPPONENTS, INSECURITY, OTHER ISSUES Senate President Bukola Saraki, who read the 12-point resolution reached at the emergency session, said the meeting addressed the problems facing the nation and directed the president to tackle the problems headlong. According to the resolution, the National Assembly will not hesitate to evoke its constitutional powers against the Executive if nothing was done to address the resolutions including the persistent harassment and humiliation of perceived enemies of the president. On the worrisome security situation in the country, the National Assembly said the security agencies must be given marching orders by the Executive to curtail the sustained killings of Nigerians “and protect lives and properties of Nigerians as these are the primary duties of any responsible government�. The legislature also canvassed for the cessation of systemic harassment and humiliation by the Executive of perceived political opponents, people with contrary opinions including legislators and the judiciary by the police and other security agencies. Other resolutions of the National Assembly included: “There must be strict adherence to the rule of law and protection for all citizens by the president and his appointees. “The president must be

held accountable for the actions of his appointees and must be ready to sanction those that carry out any act which will ridicule or endanger our country and democracy. “Government should show sincerity in the fight against corruption by not being selective and also prosecute current appointees that have cases pending against them. “The sanctity of the National Assembly should be protected and preserved by the federal government by not interfering in its business while those who invaded the Senate to seize the mace should be prosecuted. “National Assembly is to liaise with the international community through the IPU, APU, ECOWAS, CPA Parliament, Pan African Parliament, EU, UN, U.S. Congress and UK Parliament to secure the nation’s democracy. “Democratic elections must be competitive and inclusive by removing the present reign of fear and intimidation particularly as we approach the forthcoming 2019 elections. “National Assembly is to work closely with civil society organisations, trade unions and NGOs to further deepen and protect democracy. “The president must take immediate steps to contain the growing level of unemployment and poverty in Nigeria, especially now

that we have the advantage of the oil price having risen to $80 per barrel.� The legislature also passed a vote of confidence on Saraki and the Speaker of the House of Representatives, Hon. Yakubu Dogara and the entire leadership of the National Assembly. It also reaffirmed its earlier resolution of a vote of no confidence on the Inspector General of Police, Ibrahim Idris, saying he “does nothing other than preside over the killing of innocent Nigerians and consistent framing of perceived political opponents of the president and outright disregard for constitutional authority�. THISDAY further gathered that during the joint executive session, as the vote of confidence was being passed on Saraki, the lawmakers gave the Senate President a standing ovation and asked him to declare his presidential ambition. The source revealed that the clamour by lawmakers for Saraki to contest for the presidency started when one senator stood up and said: “Enough of this harassment by the Executive.� The senator reportedly urged Saraki to come out and contest the presidential election, saying it was no longer a matter of choice but compulsion, occasioned by the current political situation in the country. The source said it was

at this juncture that the lawmakers present gave Saraki a standing ovation and urged him to declare his interest in the presidential contest. According to one lawmaker who preferred to remain unnamed, “The session reportedly agreed that it was high time Saraki declared his presidential interest because he is the kind of leader Nigeria needs at this crucial period.� Also, the lawmakers saw the need for government to improve the welfare of Nigerians in view of the fact that oil prices had risen to nearly $80 per barrel. They agreed that this was crucial especially in the build-up to the 2019 general election as a way to assuage the pains Nigerians are passing through and to avoid a backlash at the polls. Before the joint executive session, the Senate and House at separate executive sessions met for over an hour to take positions on the state of the nation, which they eventually harmonised at the joint session later yesterday. However, Buhari loyalists such as Senators Adamu Abdullahi (APC, Nasarawa West) and Kabiru Marafa (APC, Zamfara Central) failed to join other senators at the joint session. While Abdullahi stormed out of the National Assembly complex, Marafa proceeded to the public hearing on the

Petroleum Industry Bill (PIB).

Warning Against Impeachment THISDAY, however, gathered that yesterday’s joint session encountered some turbulence when the issue of impeachment of the president was raised, in the event that the Executive fails to address the resolutions reached. The president’s loyalists had frowned against any move or attempt that appeared to threaten Buhari’s stay in office. Speaking on the development yesterday, Hon. Muhammed Gudaji Kazaure (APC, Jigawa), who heads the Justice and Fairness Group of the 8th Assembly – a group created to solely guard against threats to the president, at a press briefing after the joint session, warned: “We will not allow anybody to touch the integrity of the president and that’s the aim of this group. We have members in the Senate that are with us.� He said though the group agreed with all other members that there had been short-comings by the present administration especially in the areas of security, harassment of the opposition and members of the legislature by the security forces, as well as the need to improve the welfare of Nigerians, the option of impeachment was a no-goarea for the group.

Kazaure also revealed that his group was aware that some members in the House, particularly those of the Peoples Democratic Party (PDP), had started to collate signatures in order to serve an impeachment notice against the president. He pointedly called out Hon. Kingsley Chinda (PDP, Rivers) and Hon. Nicholas Ossai (PDP, Delta) as the leading voices for the impeachment of Buhari. Elaborating on the resolutions reached at the joint closed-door meeting of both chambers, Kazaure said: “Today we did a joint sitting with the Senate and House of Representatives over the problems between the Continued on page 10

TOP GAINERS NGN NGN OANDO 0.60 6.70 INTERBREW 3.00 42.00 DANGSUGAR 1.10 6.64 HONEYWELL 0.11 2.31 OKOMUOIL 4.00 84.00 TOP LOSERS NGN NGN CONSOLHALLMARK 0.02 0.28 ROYALEXCHANGE 0.02 0.32 UACN 0.70 71.25 FIRSTALUM 0.02 0.42 TOTAL 8.70 193.30 HPE Nestle Nig Plc â‚Ś1,430.00 Volume: 339.676 million shares Value: N5.964 billion Deals: 4,436 As at 29/5/18 See details on Page 39

% 9.8 7.6 5.0 5.0 5.0 % 6.6 5.8 5.0 4.5 4.3

WEDNESDAY, Í´Ëœ ͺ͸͚͜ Ëž T H I S D AY

10

STARTERS

FG’s $407m Suit Against Shell Adjourned to Oct 9 A Federal High Court sitting in Lagos has adjourned till October 9 the crude oil shipment suit brought by the federal government against Anglo-Dutch oil multinational, Shell. The adjournment followed the absence of the trial judge, Justice Mojisola Olatoregun, during proceedings yesterday. The suit was filed by the federal government’s counsel Fabian Ajogwu (SAN) against Shell Petroleum Development Company of Nig. Ltd and its subsidiary, Shell Western Supply & Trading Ltd. as co-defendant, reported the News Agency of Nigeria (NAN). The federal government is claiming $406.7 million from the defendants as the shortfall of money paid for crude oil lifted between 2013 and 2014. The plaintiff, in its supporting affidavit, accused the Anglo-Dutch oil major of not declaring or under-declaring crude

oil shipments during the period. It said the discovery followed a forensic analysis of bills of laden and shipping documents, adding that Shell had cheated Nigeria of the revenue. It added that a consortium of experts tracked the global movement of the country’s hydrocarbons including crude oil and gas. The experts, the government is contending, identified the companies engaged in the practice that led to missing revenues from crude oil and gas export sales to different parts of the world. They also revealed discrepancies in the export records from Nigeria with the import records at U.S ports. The plaintiff averred that the undeclared shipments between January 2013 and December 2014 brought the total value of the shortfall to $406.75 million. The defendants were said to have failed

to respond to a federal government letter through its legal representative seeking clarification on the discrepancies. The federal government is therefore seeking a court order to compel the two companies to pay $406.75 million, being the total value of the missing revenue and interest payment at 21 per cent per annum. In addition, the government is also asking Shell to pay general exemplary damages of $406.75 million as well as the cost of the legal action. The federal government had in a similar case, sued Chevron, Total and Agip. The government is asking for $12.7 billion over alleged non-declaration of 57 million barrels of crude shipped to the U.S. between 2011 and 2014. The oil companies are among 15 oil majors targeted by the government for the recovery of over $17 billion in deprived revenue.

N’ASSEMBLY THREATENS BUHARI OVER PERSECUTION OF OPPONENTS, INSECURITY, OTHER ISSUES Executive arm of government and the National Assembly in general. “And we came up with between 11 to 12 resolutions which are all good as we talked about the issue of killing of innocent people in this country and concluded that it must be stopped, whichever way the service chiefs choose to end them. “Then we took a resolution that definitely we are approaching the 2019 elections and we have to improve the welfare of Nigerians especially at this period when the price of crude oil has almost risen to $80 per barrel. “We have to improve the welfare of citizens of this country so they can see real change before we go for the 2019 elections. “Then we took a vote of no confidence on the Inspector General of Police (IG) because the majority of the problems – sometimes the police accuse people without proper investigation – and this will bring serious problems between both arms of government. We want the executive and legislative face-off to end. “Then we agreed that if the government fails to address all our resolutions, we will resort to the last legislative action available.� Kazaure, however, said his group was not in support of any attempt to remove the president, noting: “Many of us were not in support of that resolution because many of us are not in support of threatening the president. “The president we know is a man of integrity. We know his hands are clean, but some people who surround him are the real issue. And I’m calling on the president to checkmate those persons, particularly those whom the masses are complaining about, and bring in people that will move this country forward because enough is enough. “We don’t want a situation whereby people will create problems for the president and we will come to the House and complain about the president while the president is sometimes inside the Villa and doesn’t even know what’s going on in the country; because it is expected that they come and brief him, and some brief him wrongly, that’s the reality. “As we are in the House, we have some members in the Senate and I’m sure we will not allow anybody to threaten the president. Nobody will impeach the president because that day will be a whole day. “We know that no one will be bold enough to come and show us that they will be able to impeach the president in the chamber because there are no two-thirds in the House. Our group is strong enough to stop anything called

impeachment.� The lawmaker said he had never witnessed such a tense joint sitting of both chambers, where there were several contradictions in arriving at the resolutions. He, however, pointed out that the lawmakers were all in agreement that they were uncertain of winning their elections if things continue on the current trajectory.

Group Disagrees with Resolutions Meanwhile, the Parliamentary Support Group of the Senate and House led by Hon. Abdulmumin Jibrin (APC, Kano) yesterday criticised the joint session of the National Assembly, saying it did not have the endorsement of most APC lawmakers. In a statement signed and issued by Jibrin, the group revealed that most of the lawmakers who spoke at the meeting were members of the opposition PDP, hence the antiadministration resolutions reached at the meeting. According to the group, “That almost all the members and senators that spoke at the executive session were of the PDP, while members of the APC declined joining the discussion to avoid a rowdy confrontation, so the entire session could easily pass for a PDP executive session. “That it is commendable that the Speaker tactically refused to make any comment at the session even after the Senate President took time to explain the issues which are mostly personal. “That it is disturbing and raised many questions of pre-determined intentions that a known ally of the Senate President from Kwara State, Hon Rasak Atunwa drafted what was adopted as the resolutions and without voting, which was against standard parliamentary practice. “That most of the issues raised concerning the fight against corruption, insecurity and the rule of law have been severally discussed in the Senate and the House and various resolutions passed. “That we commend the efforts of Mr. President in the fight against corruption, tackling of the insecurity challenges and respect for the rule of law and democratic institutions. Mr President is known for his non-interference policy. “That every senator or member of the House who has corruption or criminal allegations against him or her should clear his or her name without dragging the entire institution of the National Assembly into the matter. “That the National Assembly should also look inwards and address the issue

of suffocating senators and members of the House with dissenting or contrary opinions through coercion or extra-legal means. “That the PDP should recall how its members in the 7th Assembly sat comfortably in the chamber and watched a sitting Speaker, Aminu Tambuwal locked out of the National Assembly and all his security personnel withdrawn while APC members had to scale the fence to gain entrance into the National Assembly. “That we must exercise caution at this delicate period not to overheat the polity with statements that are capable of dividing the country, embarrassing us before the watching world and creating friction between the Legislature, Executive and specifically Mr. President. “We wish to reaffirm our support for Mr. President as he works assiduously towards dealing with the challenges of our country.�

PDP: N’Assembly Has Vindicated Us But even as more information emerge as to what actually transpired at the joint session of the National Assembly yesterday trickle in, the PDP stated that the resolutions of the legislature against the president and his government were a vindication of its stance on the Buhari administration. The PDP commended the members of the National Assembly for their patriotism and courage in unanimously standing up for democracy, the rule of law, national stability and cohesion at this trying time. In a statement by its National Publicity Secretary, Kola Ologbondiyan, the PDP said that it has “consistently pointed to the misrule of the Buhari presidency, as well as the unrelenting violation of our Constitution, unprecedented Executive highhandedness, abuse of the rights of citizens and the erosion of all known democratic norms under this administration�. It said in addition, the APC-led government has foisted a siege mentality on Nigerians as well as presidential aloofness to important issues of state, thereby resulting in the escalation of violence, killings and daily bloodletting in the country. “From the above, it has become evident that Mr. President must be called to order through an appropriate legislative instrument. The PDP therefore calls on all democrats across the board, irrespective of party affiliations, to come together, support the National Assembly and save our democracy from the misrule of the Buhari presidency,� the main opposition party stated.

Two-Minute BrieďŹ ng NEWS Defence Minister Pushes for

Suspension of Anti-grazing Law The Minister of Defence, Col. Mansur Dan-Ali (rtd.), yesterday in Abuja advised the Security Council presided over by President Muhammadu Buhari on the need to suspend Anti- open Grazing‌ Page 11

EDITORIAL The Abuse Of Security Votes

bove all other attributes, security of the citizens is what defines a state.This significance is reflected in the Nigerian constitution in a very crucial manner.That perhaps explains why the only appropriation vote over which the executive‌ Page 15

POLITICS Barde Eyes Dankwambo’s Job

While Governor Ibrahim Dankwambo of Gombe State mayy be plotting to take over President Muhammadu Buhari’s job, a chieftain of the All Progressives Congress,Muhammad Barde is working round the clock to‌ Page 18

FEATURES Ayade's Cocoa Revolution

Governor Ben Ayade is silently repositioning Cross River State to wean it off federal transfers with his recent inauguration of a cocoa processing mill in Ikom, reports Sunday Okobi Page 20

BUSINESS Moody’s: Nigeria’s Perennial

Budget Delay Reects Weakness ess of Institutions Moody’s Investors Service has described the perpetual delay in passing Nigeria’s annual budget as a reflection of the weakness of institutions in the country. Page 23

EDUCATION Babcock’s Best Graduand: I

almost Dropped Out due to Financial DiďŹƒculties Success they say is sweet, yet the root to it oftentimes is dark and thorny. However, focus, determination and divine providence have over time‌ Page 32

INTERNATIONAL Iran Steps Up Pressure on Uranium Enrichment after US Pullout Iran saidTuesday it has launched a plan to boost uranium enrichment capacity with new centrifuges, raising the pressure on European diplomats scrambling to rescue ‌ Page 46

SPORTS Eagles Target Win against

Czech Rep in Last Friendly Super Eagles players and their handlers have set sight on victory today as Nigeria takes on Czech Republic in the last warm-up game in Austria before heading to the World Cup in Russia. Page 53

11

WEDNESDAY, JUNE 6, 2018Ëž T H I S D AY

NEWS

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

Defence Minister Pushes for Suspension of Anti-grazing Law Says North-west now killing field Omololu Ogunmade Ă‹Ă˜ĂŽSenator Iroegbu Ă“Ă˜ ĂŒĂ&#x;ÔË The Minister of Defence, Col. Mansur Dan-Ali (rtd.), yesterday in Abuja advised the Security Council presided over by President Muhammadu Buhari on the need to suspend Antiopen Grazing Law in Benue, Taraba and Ekiti States. The meeting which had the service chiefs in attendance as well as the Inspector- General of Police, (IG) lasted for several hours in the State House. According to Dan-Ali, suspending the laws would reduce tension while negotiations for safe routes for herders would commence. “The need to employ other channels with the affected states to reduce tension by suspending the implementation of the Antiopen Grazing Law while also negotiating safe routes for the herders,â€? he said. Ali’s briefing, which was contained in a statement he handed to State House correspondents after the meeting, also included a suggestion that the Nigeria Police and Department of State Services (DSS) should prosecute all suspects arrested in the affected states. He also suggested the need to establish a National Commission on Control of Small Arms and Light Weapons in the country as well as the need to employ diplomatic channels to avert the United States’ sanction on Nigeria. “There is need to hasten the establishment of a National Commission on the Control of Small Arms and Light Weapons in Nigeria. The need to engage diplomatic channels to ensure US sanctions does not affect

Nigeria,� he stated. The minister also advised the council on the need for defence headquarters to launch a joint task force operation that will be similar to Operation Safe Haven in Jos; in Zamfara State and Birnin Gwari axis of Kaduna State with its headquarters in Gusau, the capital of Zamfara State. Ali also told the council that incessant killings and kidnappings by criminal elements along with other criminal activities across the North-west are becoming alarming and worrisome. He also stated that the degree of banditry on Abuja-Kaduna expressway was a source of concern, insisting that the upsurge on insecurity in Zamfara State is quite disturbing and called for a more robust approach to arrest the situation. “The situation is characterised with killings and kidnappings by bandits and criminal elements predominantly in Anka, Maru, Kaura Namoda and Talata Mafara council areas of the state,� he said. On security situation in the North-central, Ali claimed that the incidents of herdsmenfarmers clashes in Benue and Taraba States had reduced, adding that several arrests had been made by the troops in conjunction with other security agencies on killings and destruction of properties by criminals. Furthermore, he said Boko Haram terrorists activities in the North-east had largely been contained, submitting that there is also a significant improvement in security situation in the zone. The defence minister also gave situation reports on military operations in the North-east as

well security reports in other regions of the country including the South-south and South-west. Ali however, thanked the president for his support to the Nigerian Armed Forces in the conduct of its operations, which he noted is yielding success in other areas of conflicts especially in the North- central and North-east. “The Nigerian Army has launched Operation Last Hold to flush out the insurgents from their hideouts in the Lake Chad Basin and free the communities

to enable Internally Displaced Persons (IDPs) return to their homes. The operation is to last till end of August 2018. “Similarly, the MNJTF is currently engaged in operation to dislodge Boko Haram terrorists in the fringes between Niger Republic and Nigeria. The Task Force has so far dislodged the insurgents from Arege, Kangarwa, Metele and few other islands on the Lake Chad. So far, 296 persons have been rescued and are undergoing profiling.Â

“The number is envisaged to increase as troops intensify clearance operations. In the South-south/South-west, the situation of illegal oil bunkering, militancy and pipeline vandalism is on a decline in the Niger Delta following the effort of the federal government to engage stakeholders in dialogue. “Also, Operation AWATSE has continued to dislodge militants and pipeline vandals from Arepo and other areas in Lagos and in Ogun waterside

Local Government Area of Ogun State,â€? he said. The council was also informed by the minister that the United States of America conveyed to the government of Nigeria information about the implementation of Countering America’s Adversaries through Sanctions Act Section 231. “It is pertinent to state that the award of contract for the procurement of the Mi-35M helicopters was completed before the Act was signed into Law in August 2017,â€? Ali stated. Â

DIVIDEND OF DEMOCRACY

L-R: Delta State Deputy Governor, Mr. Kingsley Otuaro; Governor Ifeanyi Okowa; Bayelsa State Governor, Seriake Dickson; former Delta State Governor, Chief James Ibori; and Delta State Chairman of the Peoples Democratic Party (PDP), Mr. Kingsley Esiso, during the inaugurating of the dualised Jesse access road in Ethiope West Local Government Area of the state....yesterday

APC Convention: 60 Aspirants Pick Buhari Nominates Kafarati Nomination Forms as Chief Judge of Federal High Court Deji Elumoye Ă“Ă˜ ĂŒĂ&#x;ÔË President Muhammadu Buhari yesterday requested the Senate to confirm Justice Adamu Abdu-Kafarati as substantive Chief Judge of the Federal High Court nine months after acting in that capacity. The request was contained in a letter written by Buhari to the Senate and read on the floor of the Senate after the emergency session of the National Assembly by Senate President Bukola Saraki The  letter read in part: “In accordance with the provisions of Section 250 (1) of the 1999 Constitution as amended, I write to request for the confirmation of the Senate, the appointment of Justice Adamu Abdul Kafarati as the Chief Judge of the Federal High Court. “It is my hope that the distinguished Senate will consider and confirm the

nominee in its usual expeditious manner. “Please accept, Senate President, the assurances of my highest consideration,� the letter read The Chief Justice of Nigeria (CJN), Justice Walter Onnoghen, took a proactive step to prevent judicial disorder on September 16, 2017, and sworn in Justice Abdul Kafarati as acting Chief Judge of the Federal High Court. Justice Kafarati was then the most senior judge of the court when Justice Ibrahim Auta retired on September 16, 2017, after attaining mandatory retirement age The Senate had also on March 8, 2018, urged President Buhari to forward nomination of Justice Kafarati to the upper legislative chamber for approval as substantive Chief Judge of the Federal High Court to avoid constitutional crisis.

Ndoma Egba resumes duty Onyebuchi Ezigbo Ă“Ă˜ ĂŒĂ&#x;ÔË

(NDDC),  Ndoma-Egba. “He is here to officially take The former Secretary of the All over from me as the secretary Progressives Congress (APC) of the national convention 2018 National Convention committee, and let me assure Committee, Senator Benjamin you that the 2018 national Uwajimogu, has said no fewer convention will be one of the than 60 aspirants have bought best to be organised by the nomination forms to contest APC,� he said. various positions. Uwajumogu also gave Uwajumogu, who resigned as update on the progress of the secretary of the committee last convention, disclosing: “As at weekend, said yesterday while today, more than 60 aspirants handing over to his successor, have bought forms for the vacant Senator Victor Ndoma-Egba, that positions yet the sale of forms is the committee would stick to still ongoing. However, we are the timetable released earlier. keeping to the timetable released “Recall that during my earlier. resignation last weekend, I had “Everything is still in order and hinged it on personal reasons my leaving the position will not especially as it coincided with affect the process. I know very the date of the convention. well that with the experiences “I am happy to inform Ndoma-Egba has, he will bring you and to receive the good more vibes to this convention news about the appointment scheduled for June 23. I welcome of a fine gentleman and the and wish you the best.� former leader of the Senate He said he was not who doubles as chairman of disappointed that the national the refurbished Niger Delta leadership of the party appointed Development Commission a South-south party member to

take over from him instead of South-east person he requested during his resignation. “I was not disappointed because Ndoma-Egba is from the eastern region and I believe that he is most qualified and most positioned to succeed me as secretary of the convention. He has the competence to take the convention to a successful conclusion. Responding, Ndoma-Egba thanked Uwajumogu for setting a very strong framework and very clear footpaths to a very successful 2018 convention. “You have done the bulk of the work, mine is just to continue and conclude the good work you have started. “I share your feelings that the 2018 convention will be a very successful one and this is in spite of your departure for personal reasons which we understand and it will not impact negatively on the arrangements you have made because they are already on ground and they are

entrenched, mine is to make sure that we move forward, “ he said. On his readiness to work under pressure, Ndoma-Egba said: “I don’t know what kind of pressure that will be more than having more than 108 peers. I managed 108 senators in the seventh senate as the majority leader and in the sixth Senate, I was the deputy majority leader. I am used to operating under pressure and I can cope with any kind of pressure.� Asked how he intends to combine the NDDC job with the new assignment, he said: “Hopefully by the 23rd of this month, this assignment should be over. It is a very short assignment; intense but short.� Regarding the issue of imposition of candidates, NdomaEgba said: “I have a list from the party and that is the one I am going to work with. How the list was compiled, I wouldn’t know but as long as it is the authentic list, that is what I will be using.�

WEDNESDAY, JUNE 6, 2018˾ T H I S D AY

12

NEWS

Akeredolu, Fayose Bicker over Ekiti Election INEC to deploy 10,032 officials for guber poll Onyebuchi Ezigbo ËØÎ James Sowole ÓØ ÕßÜÏ The face-off between the Ondo State Governor, Oluwarotimi Akeredolu, and his counterpart in Ekiti State, Ayodele Fayose, over the July 14 governorship election in his (Fayose) state, got messier as the cold war degenerated yesterday into verbal attacks on each other. Akeredolu, while replying Fayose on the election, boasted that thousands of Fayose cannot stop him and other governors of All Progressives Congress (APC) from supporting Kayode Fayemi, who is the party’s standard bearer. Fayose had through his Special Assistant on New Media and Public Communication, Lere Olayinka, castigated Akeredolu, alleging that he brought no fewer than 150 policemen to Ado-Ekiti last Friday to perpetrate the gun attack in which about four persons, including an APC chieftain, Mr. Opeyemi Bamidele, were injured. The Ekiti State governor equally alleged that Akeredolu planned to use Ondo State two months’ allocation to fund the electioneering of the APC

governorship candidate in Ekiti State. However, Akeredolu in a statement by his Commissioner for Information and Strategy, Yemi Olowolabi, described Fayose’s allegation as baseless and deliberate falsehood. “Ordinarily, we would have ignored all the deliberate lies, but we felt that we would not be fair to the unsuspecting larger members of the public if such lies were not debunked. “For the information of the doubters, Akeredolu, even if provoked, cannot debase his personality to a level that he will sacrifice the interests of his people for pecuniary gains. “Instead of engaging in hypocritical activities like eating at motor parks and cutting ‘ponmo’ at the market square, Akeredolu is currently applying the public resources for the betterment of the lives of the people of the state,” Olowolabi said. According to him, Ondo State is witnessing massive infrastructural development in all sectors of the state, adding that the State Executive Council just approved a number of projects for execution. He noted that the Akeredolu-

led administration has performed creditably well in the last one year and few months. Olowolabi alleged said the Ekiti State Police Command spokesperson, Caleb Okechukwu, had cleared the air on the issue. He said: “Investigation by the police had revealed that the shooter was a police officer brought from Lagos by an Ekiti politician. For this revelation, we believe that the Ekiti State governor and his cohorts will now bury their heads in shame. “We, therefore, call the security agencies in the country to take note of the false accusation leveled against Akeredolu by Fayose and his

town crier, who only a few years ago, wrote a detailed report about the devious activities of his master.” While stating that the Ondo State Government was committed to the progress and peaceful co-existence between the states that were one before October 1996, Olowolabi said: “The seed of discord Fayose is trying to plant between the two states would not germinate no matter how much cunning he is. “We will love to state here categorically without mincing words that Akeredolu reserves every right to show support for the candidate of his party in Ekiti State, just as Governor Nysom Wike and the rest are

showing support for the PDP in the state. There is no law that prohibits that.” Meanwhile, the Independent National Electoral Commission (INEC) has said it would be making use of 10, 032 officials to conduct the July 14 governorship election in Ekiti State. The commission also said provisionally the total number of registered voters that a expected to participate in the Ekiti governorship poll is 919, 513. While making a presentation on the preparations for the Ekiti governorship election, the Resident Electoral Commissioner (REC), Prof. Abdulganiyu Raji, said the commission has

identified about 299 polling units as hot spots for electoral violence. He said the commission would deploy 2,600 card readers to ensure smooth and transparent conduct of the election. Providing further statistics, Raji said out of 916,313 permanent voters card that are ready for collection, only 536,261 have been collected by its owners. Also speaking at the event, the INEC National Commissioner in charge of Voter Education and Publicity, Solomon Soyebi said the commission is taking steps to prevent vote-buying and hate speech during the Ekiti election.

Atiku Vanquishes Buhari in Popular Pro-Buhari Blogger, Omojuwa’s Poll Former Vice President and leading presidential hopeful of the Peoples Democratic Party (PDP), Atiku Abubakar, has emerged winner of a series of polls conducted by loyalists of President Muhammadu Buhari, with the latest being a six-day Twitter poll by perhaps the most popular Buhari trumpeter on social media, Mr. Japheth Omojuwa. A number of pro-Buhari influencers and supporters had, following the third anniversary of the administration on May 29, initiated polls ostensibly to test the popularity of President Buhari. However, Atiku trounced Buhari in the earlier polls conducted by Mark Essien via @markessien and Y! Online via @YNaija. The same fate befell Buhari as Atiku defeated the president in the two polls conducted simultaneously by Omojuwa. In the first poll, Atiku garnered 35 per cent of the votes compared to Buhari’s 32 per cent. Fela Durotoye and Omoyele Sowore, the two other contestants, scored 21 per cent and 12 per cent respectively. In the second poll, Atiku secured 39 per cent of the votes while Buhari came second with 34 per cent. The other two aspirants, Prof. Kingsley Moghalu and Rabiu Musa Kwankwaso scored 18 per cent and nine per cent respectively. In both polls respondents were asked: “Who would you vote for president if elections were held today?” Of the total combined votes of 81,065, Atiku secured 29,672

representing a cumulative percentage of 36.6 per cent compared to Buhari’s 26,590 representing 32.8 per cent. But when results of the polls by the pro-Buhari loyalists are aggregated, it gives Atiku a nine per cent lead over Buhari with the PDP presidential hopeful securing 41 per cent of the 106,000 votes as opposed to Buhari’s 32 per cent. In the first online poll conducted by Mark Essien, a pro-Buhari influencer, Atiku polled 43 per cent as against Buhari’s 35 per cent. Blogger and online newspaper publisher, Omoyele Sowore, and former Deputy Governor of Central Bank of Nigeria, Prof. Kingsley Moghalu, polled seven per cent and 15 per cent respectively. An overwhelming majority of the 9,067 respondents voted for Atiku, giving him an eight per cent edge over President Buhari as at the close of voting. In the second poll conducted by @YNaija, Nigeria’s most successful youth blog run by Red Media, who played a key role in Buhari’s media during the 2015 elections, Atiku handed Buhari a crushing defeat of 70 per cent versus 19 per cent. The other participants in the poll, Moghalu, and Durotoye polled six and five per cent respectively. At the end of the voting of 7,444 respondents, seven out of every 10 respondents representing about 5,210 settled for Atiku compared to Buhari’s vote of 1,414; Moghalu’s 446 and Durotoye’s 372. The outcome of the four polls is a reflection of result of the latest poll by NOI/ Gallup Poll which saw President Buhari’s rating drop to 41 per cent.

IN THOSE GOOD OLD DAYS.....

Minister of Transportation, Mr. Chibuike Rotimi Amaechi, riding a bicycle during the visit of officials of the Federal Road Safety Corps (FRSC) and members of the Cycling Federation of Nigeria to his office in commemoration of the 2018 UN World Bicycle Day in Abuja... yesterday

Lagos APC Crisis: You’re Cheap and Weak, Faction Tells Oyegun Segun James The crisis rocking the Lagos State chapter of the All Progressives Congress (APC) has not ended as factional Chairman, Mr. Fouad Oki, yesterday accused the National Chairman of the party, Chief John Odigie-Oyegun, of not only being weak and cheap but corrupt and inept. He therefore called on “President Muhammadu Buhari, Professor Yemi Osibanjo and other leaders to join other well-meaning members of the party and direct Oyegun and indeed the National Working Committee (NWC) to reverse itself.” Oki insisted that the action of Oyegun was against the decision of NWC and therefore a nullity. “The decision of NWC is to suspend the swearing-in of anyone from Lagos State, having decided that what took place was illegal and to find a political solution through the five-man committee empanel to go to Lagos State.” He lamented that: “It is instructive to state that the committee is yet to take off when Mr. Tunde Balogun was sworn in as state chairman.” Oki in a statement yesterday made it clear that despite the

swearing in of Balogun as the state chairman of the party last Monday, all has not ended in the fight “for a truly internally democratised party enshrined in the rule of law, equity, fairness and justice.” He lamented that “reports have reached us about events leading to the show of shame by Oyegun and disregard for the decision of the NWC meeting of June 1, 2018, at the meeting to consider reports of congresses from states across the federation. “We are concerned by allegations made by a member of the NWC at the instant meeting of bribery and compromise by some members of the NWC to subvert the rule of law and constitutionality of the congresses in Lagos State. “We have also taken note of the shenanigan exhibited at the inauguration which further expose how cheaply and weak some people can be when it comes to the matter of money and their conscience which played out at the inauguration ceremony. “Our resolve to ensure respect for the rule of law and constitutionalism underscores the importance of a strong and

committed leadership that is not lily livered and can uphold the rule of law and ensuring that the fruits of democracy can be enjoyed by all irrespective of status or creed.” He therefore call on Oyegun to be “man enough to fully respect and ensure respect for the rule of law and integrity of our party by promptly complying with decisions of the NWC at its meeting of June 1, 2018, where orders were made against the illegality perpetrated by the ACME group also called on the “NWC to ensure that its officers fully respect its own decision and resolutions.” Oki wondered why Oyegun is just bent on destroying the party before exiting as national chairman, as he urged “all our members that don’t let the troubles and worries you currently face overwhelm you, depress you and fill you with anxiety,” saying: “I am certain we have not heard the last of this. Truth is, we knew they were going to do what they did because the Oyegun-led NWC is full of weaklings, but we are undaunted in our resolve and will continue to show resilience in the struggle to free our people from

the shackle of a bigot. “Let’s not get discouraged. We anticipated a long-distance run and have prepared for it. Therefore, any inauguration of a product of illegality has no other name other than illegality. And we shall stop them very soon. “Be assured. Events unfolding in Abuja has proven once again the level of impunity we are fighting against and as the struggle continues, I want to enjoin our members to brace themselves for onslaught from the powers above, we are going to be intimidated now and going forward but our resolve will keep us afloat. “Some people have sold their souls for money; generations unborn will not forgive the perpetrators of evil in Lagos State, so therefore, No shaking whatsoever. “Please continue to stay gidigba in the face of this tyrannical onslaught on our sensibility and patrimony. We remain resolute and shall continue to fight for our right until freedom is achieved. Our mandate and recognition lie with our teeming members. We shall use all lawful means to achieve our end,” Oki insisted.

T H I S D AY ˾ WEDNESDAY JUNE 6, 2018

13

14

T H I S D AY ˞ ˜ ʹ˜ 2018

COMMENT

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

FREEDOM FOR LEAH SHARIBU

Sonnie Ekwowusi urges the government to work harder for the release of the schoolgirl

T

he account of what happened to Miss Leah Sharibu, 15-year- old Dapchi school girl still under the iron grips of the Boko Haram terrorists for refusing to renounce her Christian faith and embrace Islam, is completely factual except that, closed up in our shrinking humanitarianism, we have chosen to down play it. Were Leah Sharibu a Briton, for instance, the whole of Britain would have lit their lamp stands in frantic organised search for her. Leah would have been a subject matter of constant discourse in the British Parliament. The BBC in liaison with the British Investigation and Intelligent Unit would have been airing the minute-by-minute account of the possible whereabouts of Leah. Unfortunately Leah comes from the part of the world where the intrinsic worth of the human person is less appealing. What appeals in Nigeria are ephemerals and abstractions such as human conquest, nebulous economic figures, political power, fame, honour, craze for titles and putrid display of material wealth. For instance, it is probably only in Nigeria that a federal lawmaker can splash out N100 million or so on a fancy new car for his wife at a lavish birthday party (in reminiscent of the ravish birthday party organised for her vain daughter by powerdrunk Herod) and still feel proud to stand before the public to try to rationalise the sickening extravagance. We need to convince ourselves that these things are not ends in themselves but only have value to the extent to which they emphasise the transcendental concerns of our common humanity. Providing emergency solutions or tokenisms such as construction of roads, provision of pipe-borne water and other public utilities, of course, a first priority, but too often it has become a substitute to addressing the fundamental aspects of our being. Common humanity is a point we must latch onto as we learn to grapple with the multiple perceptions of the truth. At the risk of sounding repetitive, we have a responsibility not to foreclose the humanitarian options made available by the long search for common values from which to build an ethical framework for human solidarity. We have a bigger reasonability not to deprive the future generations of the chance to live fully and to push forward the frontiers of humanitarianism for the benefit of humankind. According to Minister of Information and Culture Lai Mohammed, 113 young persons were abducted by the Boko Haram terrorists at Government Girls Science and Technical College, Dapchi, Yobe State on February 19, 2018. Of the 113 abducted persons, 107 persons had been released to the federal government by the terrorists. The released students comprised 105 Dapchi schoolgirls and the two non-students. Miss Leah Sharibu, however, is still held by the terrorists because she refused to renounce her Christian faith and convert to Islam. Lai Mohammed has reportedly said that “tortuous negotiations are still ongoing daily to secure� the release of Leah. The logical question is: During the negotiations between the federal government and the terrorists for the release of the Dapchi girls, did the terrorists make conversion to Islam a pre-condition for the release of the girls? If the answer is in the affirmative, why did the federal government agree to such a term knowing fully well that it translated to leaving Leah in the grips of the terrorists for refusing to convert to Islam?

UNTIL MISS LEAH SHARIBU REGAINS FREEDOM THE WHOLE WORLD WILL CONTINUE TO ASSUME THAT ALL THE DAPCHI SCHOOLGIRLS ARE STILL IN CAPTIVITY

Certainly the joy over the release of the 105 Dapchi school girls is incomplete without the release of Leah. Until Miss Leah Sharibu regains freedom the whole world will continue to assume that all the Dapchi school girls are still in captivity. Therefore the federal government should ensure that Leah is released forthwith. Securing the release of Leah should not be used to play politics or to score cheap political point or to canvass for cheap political votes. Right to personal liberty is inalienable right not a privilege. It is generally agreed that the most important single function of government is to secure the freedom of individual citizens. Therefore let nobody take pride in securing the release of Leah. Since Lai Mohammed has said that the federal government is in cordial negotiations with the terrorists, securing the release of Leah ought not be “tortuous� anymore. Already Leah’s dad Mr. Nathaniel Sharibu has since demanded to know from the federal government why it had failed to negotiate the release of his daughter alongside other girls. Till date, the federal government has not given Mr. Sharibu any answer. Mrs. Rebecca Sharibu, Leah’s mother, has been crying out and saying: “President Buhari seemed to have forgotten about Leah�. There is no doubt that Mrs. Sharibu speaks the mind of all in the world. Everybody in the world is anxiously demanding for the release of Leah. Why? Because Leah is a symbol of the 21st Century quest for religious freedom. “The God who gave us life gave us liberty at the same time�, Thomas Jefferson once wrote. The hand of captivity may seem to destroy that liberty, but liberty is indestructible because it is the greatest inheritance of humankind. Liberty, in essence, is the greatest bequest to posterity. At Gettysburg, Abraham Lincoln stated that before America was born it had already been conceived in freedom. Not just America, all nations were conceived in freedom. All citizens were born in freedom. The state is not the creator of human freedom. Or, put differently, freedom is not the property of the state. Therefore it has no right to deny its citizens their God-given freedom or give them a counterfeit freedom. Rather than accept a counterfeit freedom in disobedience a higher law of God inscribed in her heart, Leah has chosen captivity. In an age in which compromise of principles has become a statesmanship virtue, Miss Sharibu is indeed a reference point of abiding values. She is a beacon of hope for the hopeless; a shining light in darkness. History always accords a place of honour for little heroines such as Leah. When the history of Nigeria is re-written what the little girl has done shall be told in gold. Future generations will number her among the noble and brave. Her name will be surrounded by a halo of glory. Stubborn, fearless, courageous, and faithful to her calling, Leah is a real role model. History will transcribe her name and placed on the same monument with Rosa Parks, Martin Luther King Jr. and other freedom fighters. Awake, awake; millions of freedom fighters. The voice of Miss Sharibu, the little girl who has been betrayed by the treachery of her people, is calling you. Your dead fathers speak to us from the graves. Heaven calls on you to arise and assert your right to freedom. Let your motto continue to be; resistance! resistance!! resistance!!! Labour for the freedom of the human race. Be optimistic. Struggle to reclaim our lost freedom. Fight to reclaim the lost right of human civilisation.

APC POLITICS OF SELF DESTRUCTION

Senate President, Bukola Saraki’s travails mirror the failure of the APC government, argues Ayegba Israel Ebije

T

he All Progressive Congress (APC) has always operated on a political machinery lubricated with blackmail, propaganda, which facilitated the mass appeal they got at the polls ousting Dr. Goodluck Ebele Jonathan. In the wake of spasm of anger against the ruling party on account of failed promises, frail security situation and general anomie, the embattled ruling party has invented different sizes of frames to put up opponents or persons holding critical opinions for disgrace, disrepute and if possible destruction. The stage is set for the ruling party to self-destruct, now that it has started biting its own allies. The ongoing imbroglio between the Senate President, Bukola Saraki, where he has been allegedly linked with the Offa bank robbery massacre has indeed showed how inept the APC government is in approach to issues. The ruling party has in so many ways left Nigerians with the believe that they are the wrong set of people to be managing affairs of the nation at the most critical time of our nationhood. The question is, how much is Saraki expected to share from the loot when he has the entire Senate and federal government to manipulate for financial gain? It is wrong but common place to find politicians having thugs running errands for them in times of politics. Based on the confession extracted by journalists from the Offa gang leader over alleged complicity of the

senate president, it is very obvious Saraki or the incumbent Kwara State governor have nothing to do with it. The obvious intention of linking them is to further the running battle of power agitated against Saraki who politicked his way to senate presidency when the powers that be fought desperately against him. Now he is leading the new Peoples Democratic Party (nPDP) with plans to join force with the PDP against the ruling party in 2019. Characteristic of the President Muhammadu Buhari-led administration, the noose must be tied around his neck to restrain the looming “change the change� tide. I do not have sympathy for Saraki. He is enjoying the political cauldron he set off. He is not a saint, and not so great a threat until the government ridiculed itself with incredulous propaganda, failed promises. The Sarakis in mainstream politics are soaring high largely because APC government led by President Buhari has failed, and lost the general goodwill, mass appeal of right thinking Nigerians. Consistent blackmail, imprisonment of defeated politicians in PDP has not improved their image albeit skewed anticorruption fight and failed war on terror. Frame-up, a technique used in 1984 during the military era of the incumbent is deployed full throttle in a fierce battle ahead of 2019. Fela got the sting when he was tagged as an armed robber in 1984, Obasanjo spoke against Buhari and they slammed him with

power sector scam allegation, Senator Dino Melaye is linked with robbers/kidnappers. Saraki is the new image of the frame-up on the to-do bucket list of the APC before 2019 election. The ruling party is on impunity drive because they are led by infantile belief that Nigerians are mostly narrow minded. Alas the Inspector-General of Police (IGP) will get his pound of flesh. He may have failed to honour the National Assembly summon, but he will surely hit back at the senators who have the audacity to test his preeminence. Though he chickened out of the Gusape, Abuja police summon, he has mandated the senate president to submit his own side of the story within 48 hours. Like every Shakespearian pound of flesh, let no blood spill while removing it. That is the flipside the ruling party has failed to look at. In their individual desperation to dish out self-based vendetta, they have largely ridiculed the president and their political party. Saraki is definitely holding back a huge laugh when the tide turns against APC, just the way it happened to PDP. The dilemma most erstwhile supporters of Buhari are passing through presently is an instructive lesson for every Nigerian. Most of those who blindly followed him didn’t even know him. Those who knew his capability felt he would do better than his predecessor. Those who spoke against the immediate past administration freely, didn’t see the chains behind the cloak of the man they were working for. If you callit nemesis,

that may be fair enough. My take however is that if the PDP had managed affairs of governance properly or for the sake of politics, managed the likes of Saraki and the nPDP, these misfits will never have space to hold the reigns of power. Once again, we are witnessing a political party against itself. This is the time for Nigerians to reflect deeply on the last three years, where wrong decisions, failed promise, bad economic decisions, blame games, raging ethno-religious dichotomy terror have been the order of the day. Some lessons have been learnt and it is instructive in building political knowledge base for the elite and ordinary Nigerian. Corrupt politicians who are feathering their selfish agenda surround Buhari. It is time for Nigeria to have solid structures instead of revolving chair of political profiteers. Too much power is handed elected politicians in Nigeria no matter how inept they are. APC has indeed proven that when power is given to an idiot, it is the people that will suffer. The only way out of this vomit is through wise decisions at the ballot. That way, youths will prove they are not lazy, no average Nigeria will be fooled by “not- too- young to run bill� when we do not have “not- too- old to run bill�. No right thinking Nigerian will be fooled by former PDP criminals who are now APC saints. Nigerians will no longer listen to achievements from the mouths of media aides but insist on physical structures. ebijeo5@gmail.com or @ebijeisrael

15

T H I S D AY WEDNESDAY, JUNE 6, 2018

EDITORIAL THE ABUSE OF SECURITY VOTES There is urgent need to structure the manner security votes are spent

A

bove all other attributes, security of the citizens is what defines a state. This significance is reflected in the Nigerian constitution in a very crucial manner. That perhaps explains why the only appropriation vote over which the executive at both the federal and the states is granted discretionary spending is the security vote. This is the letter of the constitution. The spirit (the ennoblement) is the expectation that high office holders will exercise this discretion with utmost fidelity to the public interest. In the increasingly festering culture of corruption in Nigeria this spirit is observed more in the breach. And it is getting worse. In a new report released last week, Transparency International Defence and Security (TI-DS) and Civil Society Legislative Advocacy Centre (CISLAC) disclosed that a whopping N241.8 billion ($670 million) is being spent annually by the federal government as ‘security votes’ in a manner that lacks transparency and accountability. Titled, ‘Camouflaged Cash: How ‘Security Votes’ Fuel NOTHING CAN JUSTIFY Corruption in Nigeria’, THE CURRENT SITUATION the report revealed WHERE THE EXECUTIVE that while the 2018 AT ALL LEVELS ALLOCATE defence budget is TO THEMSELVES JUMBO estimated to be some SUMS OF MONEY THAT $1.2 billion (1.03 bilIS SPENT WITHOUT lion euros), more than ACCOUNTABILITY ON $670 million extra ISSUES THAT HAVE was being handed NOTHING TO DO WITH THE out annually without SECURITY OF THE PEOPLE proper oversight. As we argued in the past, the scale of this abuse is best left to the imagination when we extrapolate from the brazen corruption to which non-discretionary spending is usually subjected in our country. For instance, revelations from how security funds were allegedly disbursed by the former National Security Adviser, Col. Sambo Dasuki (rtd), as slush funds to prominent members of the former ruling Peoples Democratic Party (PDP) are indication of the

Letters to the Editor

abuse to which such discretionary spending is subjected in Nigeria. That is why we believe there is need for a thorough review of how security spending should be channelled with a proper structure put in place at all levels so that there would be value for money and less abuse. We acknowledge that not all security expenditure (properly understood as such) can stand public scrutiny without jeopardising its overarching purpose of maintenance of law and order and defence against internal and external violation. But nothing can justify the current situation where the executive at all levels allocate to themselves jumbo sums of money that is spent without any accountability on issues that have nothing to do with the security or welfare of the people. Invariably, security votes have become a clever way by which political office holders, in implicit collusion with, or exploitation by, security agencies, defraud the public.

I 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

n the particular case of the governors, they are harder put to justify the scale of their discretionary receivables when it is realised that all constitutionally recognised security operatives and infrastructure are funded by the federal government. Incidentally, the misuse of security votes became a subject of debate when in the course of the fight between him and then Oyo State Governor Rashidi Ladoja about a decade ago, the late Lamidi Adedibu said he expected a certain percentage of the security votes being collected by the former to be given to him almost as of right. What is particularly worrying is that this abuse is not only at all levels of government, it has been extended to virtually all public agencies, including academic institutions. Yet more than ever before, Nigeria is in dire need of accountable and public spirited leadership. The governors, many of whom are now seeking public sympathy on their inability to pay the wages of their workers, should urgently remedy their profligate ways while President Muhammadu Buhari who came with the agenda to fight corruption should lead from the front on the issue. That is the surest way to show a serious commitment to the fight against graft in Nigeria.

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.

CHILDREN’S DAY: BEYOND THE CELEBRATIONS

C

hildren are the asset of any nation, the future of a country and the hope of its tomorrow. A nation prospers and progresses if it is able to develop the hidden potential lying untapped in her children. In Nigeria, children make up a good percentage of the population. According to World Health Organisation (WHO) there are 100,000 live births against 814 deaths, hence, the need to give much attention to their all-round development and a day like children’s day is a step forward toward this direction. The genesis of Children’s Day, dates back in Geneva in 1925. Some 54 representatives from different countries gathered together in Geneva, Switzerland to convene the world conference for the wellbeing of children during which “Geneva declaration protecting children” was passed. The proclamation made a strong appeal for the spiritual needs of children, relief for children in poverty, prevention of child labour, reassessing the way that children are educated and the other issues related to the welfare of children around the world. May 27, is dedicated and set aside to celebrate children; it is usually a work-free day for the primary and secondary school children who traditionally decked out in their uniforms for competitive march past in open fields or stadium with top government officials on ground to acknowledge their salute as well as provide a platform for interactions and understanding among them. The day teaches several important values, it is a call to protect little ones from all harm and save them from the negative impact of industrialisation, digitalisation, industrialisation, commercialisation and gross materialism at large. Today, many children are thrown open to the anomalies of the society and exposed to the negative side of the internet such as blind dates, pornography sites, instagram, facebook to mention but a few. Also they are let out to the evils of drug, alcohol, hard labour, early marriage abuse, and violence among

others. It is quite disheartening that Nigeria remains one of the countries with the highest number of school drop-outs roaming the streets. In some parts of the country they have taken alms to be a profession while they ought to be in school or learning a particular trade. In the south-east, south- south, they are mostly found on the streets hawking usually a variety of petty items. It is instructive to note that children have come under additional pressures as a result of upsurge of violence, especially the Boko Haram insurgency in the northeast which has claimed and uprooted millions of people from their homes. A recent report by the United Nations Refugee Agency states that a sharp increase in women and children being used as human bombs by Boko Haram. In 2017 the use of children in attacks was up four times over the previous year. However, Boko Haram remains a substantial threat and has conducted a string of violent attacks so far in 2018, including the high profile kidnapping and subsequent release of Chibok and Dapchi girls. This insurgency has destroyed so many of them in three core conflicts states of Borno, Yobe and Adamawa. Many of these children have been living in internally displaced camps (IDP’s) in many parts of the country and have been out of school for upward of three years or more. Another red flag is the massive killings by the Fulani herdsmen which needs to be addressed as urgent, as thousands of children have become orphans and many expelled from their homes. The Executive Secretary, State Emergency Management Agency (SEMA) gave a staggering statistics of children numbering 10,000 have been forced out of school, became orphans, displaced from their homes while death toll has been on the increase. Children have lent themselves to agents of terror in Northern Nigeria by becoming suicide bombers. Adeosun Damilola Oke-Mosan, Abeokuta, Ogun State

MENSTRUAL HYGIENE AND THE GIRL-CHILD

T

he world marked Menstrual Hygiene Day on May 28th 2018. There is urgent need more than ever before for government at all levels to put in place mechanisms in promoting health and well-being of the girlchild as it is imperative for the actualisation of the Sustainable Development Goals since menstrual hygiene management is linked to 10 out of the 17 goals. Menstruation, a normal physiological process which marks the onset of puberty is still poorly managed among women and girls’ particularly those in rural communities due to factors ranging from lack of clean water, toilets and quality products to effectively manage their monthly cycle. Maintaining hygiene during menstruation is not only important for the health, well-being, human rights, mobility and dignity of women and girls’, but a catalyst in achieving their empowerment. Oluwatoyin Taiwo, Executive Director Women& Girl-Child Capabilities Enhancement & Empowerment Organisation

16

T H I S D AY ˾ ʹ˜ ͰͮͯͶ

T H I S D AY ˾ WEDNESDAY JUNE 6, 2018

17

T H I S D AY ˾ WEDNESDAY, JUNE 6, 2018

18

MIDWEEKPOLITICS

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

THE NEWSMAKER

Barde Eyes Dankwambo’s Job While Governor Ibrahim Dankwambo of Gombe State may be plotting to take over President Muhammadu Buhari’s job, a chieftain of the All Progressives Congress,Muhammad Barde is working round the clock to make sure his party snatches the state from the PDP, writes Shola Oyeyipo

T

he race to replace Gombe State governor, Ibrahim Dankwambo is in top gear with a number of aspirants lining up for the job. Prominent among them is a chieftain of the All Progressives Congress (APC) and the immediate past Chief Executive Officer (CEO) of Sun Trust Bank, Muhammad Jibrin Barde, who says his passion is to rescue Gombe State from the Peoples Democratic Party (PDP) leadership. Though, not considering himself as a professional politician, but a professional in politics, Barde said he had come to the realisation that to make significant impact in the lives of the people of the state, he must acquire political power. An accomplished banker, who said he was not desperate said he would take the state to a new level of governance if given the opportunity. He also claimed that he is adequately equipped for the job, even as he boasted that he knew the needs of his people saying he always feels their pulses. He is particularly unhappy that his people are yet to get the best deal from the incumbent administration. He said: “All these have already spurred me to painstakingly build a blueprint that would guide affairs in the state if elected. “Unlike some members of the political class who are known for many promises with no intention to fulfil them, I have modestly promised just three things to the good people of Gombe State. Firstly, to be fair to all; keep Gombe’s trust intact and to be honest in all my dealings. “It is however, important to note that there is really no evidence indicating that leaders are innately born. While some people have more of a predisposed personality, a few can become great leaders with adequate determination, self-reflection, open mindedness, experience and knowledge. “From health to education, from infrastructural development to reinventing commerce that the state was known for and diversifying the economy of the state with special focus on agriculture and the attraction of investors that would make the state a beehive of activities, we have our strategies intact and ready for work.” Though he admits that he is not the richest man in the state, Barde said that he had been supporting the party over the years. But because he is modest, he remained anonymous. But as a loyal party man and a chieftain of the APC in the state, he has contributed financially to its sustenance. He is equipped with requisite educational background. He holds a M.Sc degree in Risk Management from the New York University, Leonard N. Stern Business School, MBA from the Imperial College London, a diploma in General Management from Harvard University and a Postgraduate Diploma in Financial Management from the Abubakar Tafawa Balewa University, Bauchi State. He earned a Bachelor’s degree in Economics from the University of Abuja and has acquired rich experience in banking and management, having previously held positions in Union Bank of Nigeria and Citigroup N.A and Barclays Bank in four countries across Africa and Europe. Prior to joining SunTrust, he was an executive director on the Board of Aso Savings and Loans Plc., and a former Group Head responsible for growing Bond Bank’s (now Skye Bank Plc.) business in Abuja and the northern region. He has served on various boards, and was at a time, the National Deputy President of the Mortgage Bankers Association of Nigeria; a director of Premium Pensions Limited; Director, Federal Housing Authority Technical Board and a member of the Presidential Committee on Affordable Housing. Barde also served as the Chairman, Board of Directors of the Gombe Jewel Microfinance

Muhammad Barde

Bank Limited. He left SunTrust Bank as the Chief Executive Officer to pursue his political dream of governing Gombe, with an agenda to “release the people from the shackles of poverty and under-development.” According to him, he has a very clear vision for the gargantuan task ahead, and he humbly solicits the support of the people, party leaders and stakeholders in the state. “I desire that the votes that will make me the governor should come from across board and not just from APC members only,” he said. He remains optimistic that with his overriding interest in the party, he would secure his party’s nomination as candidate and that despite being a member of an opposition party in the state, the future belongs to the APC as from 2019. He said: ”My party’s manifesto resonates with the people oriented ideologies and styles. And we have carefully identified the issues that must be addressed before the state can take her rightful place in the comity of states.” He promised to focus on infrastructural development, human capital enhancement, job creation. He said: “My vision is to unify everyone in the state under a common purpose. My team and I would transform the various elements of the system, whether it is infrastructure, environment, power, economy or others. It is also our target to create millions of jobs for our youths and women.” Barde has always harped on the need for hu-

A good political leader does not take what is similar to his views as fact and base his decisions on that

man capital development, saying that without it, infrastructural projects will not work. So, he argued that empowering citizens with the right tools to get the job done should be a priority for us as a party. He vowed to prioritise the welfare of women and children by strengthening access to quality primary health care, supporting women in their various businesses with access to capital to grow, as well as providing political support for the improvement of women participation in appointive and elective positions. Barde bemoaned the fact that residents of the state spend not less than N5billion annually to buy water as a result of the failure of the state government to live up to expectations in maintaining the dam in the state. So, to him, the deception of the government led to the total collapse of infrastructures. Hence he assured Gombe people that if elected, he would dedicate himself to the development of the state. “I have reached the pinnacle of my career as a banker, and it is time I gave back to the society, and the only way I can do that is to take the position of leadership. I have a clear vision of empowering the youths, women and impact the lives of our people positively. “I want to demonstrate that governance can be done with a high corporate responsibility. The PDP administration is full of deception. It is a time bomb waiting to explode. When you have young and energetic youths who are actually jobless, it is a fertile ground for a lot of negative things to happen. We need to harness these God-given resources and that is why I have decided to join the race. “Our people have no access to potable water, and it wouldn’t take the state government anything to maintain the dam that was constructed. It is heart-aching to know that Gombe metropolis spends N5 billion annually just to buy water.

“Our education system has completely collapsed. Some of the children do not have classes, rather, they study under trees. The hygiene is below human standard. Our hospitals are just mere mortuaries. This is totally unacceptable given the huge amount of funds the state government receives”, he added. Further speaking on what spurred, Barde said: “I was challenged by my 11-year-old daughter who I was taking to school in London. Amazingly, she said to me: ‘Now that your generation has failed’, and I look at her, and I said: ‘What do you mean?’ She said ‘you are going to make my generation fail!’ This got me thinking since then.” According to him, leadership is about service. He said: “I am seeking the flag of our party in Gombe State. I have decided to do this because we don’t need to sit on the fence any longer. My state consists of about 11 local government areas in the north-eastern part of the country, and in the last seven years, all our resources have been mismanaged. All the development indices you can think of have collapsed.” On how he intends to be fair to all he said: “A good political leader does not take what is similar to his views as fact and base his decisions on that. He uses reliable and unfiltered information to make judgments and to come up with resolutions. In other words, he stands above his beliefs to observe events objectively while the public fails to do so. In addition, he does not suffer from a self-serving bias.” Barde quotes copiously from the Holy Bible and Quran to the surprise of those who listen to him. “I am not going to tell you anything but take a trip to Gombe State independently. Beyond the cosmetics of the metropolis, visit hospitals (health centres), schools, drive through roads in the 11 local government areas and publish your findings,” he urged to drive home his point about the parlous state of affairs in his state.

T H I S D AY ˾ WEDNESDAY, JUNE 6, 2018

19

MIDWEEKPOLITICS

Abubabakar’s Bold Invitation How many governors can invite independent assessors to come to their states to assess their performance? That is what the Jigawa State governor, Badaru Abubakar has just done, a rarity in our polity, writes Ibrahim Shuaibu We have asked for a honest assessment of our scorecard and with recommendations where necessary, in our attempt to ensure participatory governance

Governor Badaru Abubakar of JigawaState

G

overnor Muhammadu Badaru Abubakar of Jigawa State assumed office on May 29, 2015 with well-articulated programmes that he said, would bring development

to the state. To translate such programmes to development strides that would impact on the people’s lives, the Badaru administration recently commissioned 80 health centres; five township roads and 200 kilometres regional roads across the state. In the past three years, the governor executed various developmental projects across the state many of which had been completed and commissioned. Jigawa has 287 political wards, and so far, the state government has completed the construction of 80 clinics; while the remaining ones are at different stages of completion. Things are changing; the Jigawa State Government is bringing more people into the business sector by creating enabling and conducive business environment that had helped in greatly improving the state’s Internally Generated Revenues (IGR) collection. In 2017, the government collected over N10 billion as IGR, unlike during the previous administration when less than N1 billion was generated. The Badaru administration’s desire to enhance the social welfare of the people led to the launching of the Jigawa State Social Intervention Programme aimed at supporting youth to become self-reliant. On water supply, the Badaru administration initiated rapid water intervention scheme which is the first major infrastructure rehabilitation effort on which it spent N1.9 billion, of which N636 million is recurrent, because of the motorised nature of most of the state water facilities.

The intervention resulted in the replacement of 402 submersible pumps; repair of 92 overhead tanks; overhauling of 251 generators; and various civil works to provide or repair pump houses; conversion of 39 motorised schemes to solar and rehabilitation of 4,192 hand pumps. The administration has also fast- tracked the development of solar energy with Nova Scotia Power and Pan Africa Solar taking advantage of the LARF policy to fast track land acquisition and compensation process to commence 80MW solar plant in Dutse and another 100MW divided between the Hadejia and Dutse substations. Governor Badaru’s administration has also successfully completed the following projects: procurement and distribution of school uniforms; bags and sandals for nomadic school pupils in the state; refund of the sum of N21,270,939 school fees in line with the administration’s free girls education and the establishment of nine model Qur’anic centres. Primarily, agriculture is the main stay of the economy in Jigawa State. In order to stimulate the economy through agriculture, the government identified and supported four value chain crops (rice, wheat, cotton and tomato) and aquaculture (fish production), as well as sheep and goats. The idea is to ensure food security and generate raw materials for agro-allied industries. On the issue of investment that will generate

In the past three years, the governor executed various developmental projects across the state many of which had been completed and commissioned

revenue and employment opportunities to the people of the state, the Erisco Foods and Dangote Farms are also establishing tomato paste factories covering a combined 5,500 hectares. Additionally, following the successful opening of the Lee Group Kijawal factory in Ringim Council, the company expressed desire to expand additional production lines and the government has decided to establish an industrial park in the same vicinity to take full advantage of the location. The park will provide incentives and common services, including infrastructure, serviced industrial plots and warehouses, as well as ancillary business and production support such as group security, weigh bridges, etc. In Dutse, the state capital, also, the state government has commissioned a granite and marble tile production factory that has the capacity to cater for both domestic and international demand for granite finished products. The administration’s empowerment programme on goat scheme is simply a micro-credit programme replacing conventional currency with three goats, which by their nature are maintenance-free small ruminants that can multiply two folds within 12 months, after which the government would retrieve three offsprings from the beneficiary to put back to the pool. This Goat Lending or Livestock-Revolving Scheme in other places has been successfully used to alleviate poverty among rural women by up to 73 per cent in over 23 countries. The state government target is 20 women per ward or about 17,220 goats. The government also spent N6.92 million to train 363 women in various income-generating trades in the state. Alhaji Muhammad Mujaddadi, the Special Assistant to the governor on Economic Empowerment, said that the training was sponsored

by the state’s Ministry of Women Affairs and Social Development and explained that 108 women were trained in Beads-Making and were given N20, 000.00 each as seed capital to set up their own businesses. The special assistant added that another set of 108 of women were trained in stone work and embroidery and were also given N25, 000.00 each as seed capital. According to him, 147 women received training in spices-making, and were given N15, 000.00 each to establish their own businesses. He gave an assurance that additional 250 women had been identified for training in leather works (bags and shoes making) and poultry. He pointed out that the gesture was to develop the capacities of women in entrepreneurship and make them self-reliant economically. “The gesture is to enable the beneficiaries set up their own businesses, become self-reliant and employers of labour. “It is also to empower the women to contribute meaningfully to the economic growth of their families, communities and the state. “Women will be accorded special attention considering the level of their vulnerability in the society,’’ he said. In the three years of the administration of Governor Badaru Abubakar, the state civil servants and pensioners receive their salaries without hitches, while gratuity has been paid to retired civil servants and promotion of welfare of the state workers is always vital to the administration. Speaking with journalists in Dutse, Governor Abubakar pledged that his administration would continue to bring more dividends of democracy to the people. “I will continue to embark on projects that will impact positively on the lives of the citizens. I would like to use this opportunity to thank the people for their support, perseverance and most importantly, their prayers in the last three years. “Their show of love and solidarity has provided the encouragement and energy that we put into steering the affairs of the government to date,” he said. Badaru said that barely two weeks ago, he hosted President Muhammadu Buhari in the state, which gave him the opportunity to compile a concise and detailed achievements of his administration recorded in all key sectors of governance. “We have asked for a honest assessment of our scorecard and with recommendations where necessary, in our attempt to ensure participatory governance and carrying everyone along,” he said Indeed, the last three years of Governor Abubakar stewardship in Jigawa state has witnessed transformation in major sectors of human development. Amidst dwindling revenue, the governor has remained focussed and has been able to deliver on his promises to the people. A political analyst, Adamu Isyaku said the administration had tremendously done well for the people of the state, but advised that the state government needed to give more attention to education, and rural transformation. This, he said would ensure that the people at the grass root also enjoy dividends of democracy.

T H I S D AY Ëž Ëœ Í´Ëœ Í°ÍŽÍŻÍś

20

FEATURES

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

Ayade's Cocoa Revolution Governor Ben Ayade is silently repositioning Cross River State to wean it off federal transfers with his recent inauguration of a cocoa processing mill in Ikom, reports Sunday Okobi

Cross River State Governor, Professor Ben Ayade, (2nd left), anked by his deputy, Professor Ivara Esu (2nd right), the Executive Director, Nexim Bank, Hon Stella Okotete (1st left) and the Chief Executive OďŹƒcer, AA Agro Industry Universal Services Ltd, Mr. Chris Agara (1st right), during the inspection of ongoing construction work at the Cross River Ultramodern Cocoa Processing Facility in Ikom Local Government Area of the state

A

s the future of oil economy is increasingly becoming bleak, foresighted leaders are readjusting their thinking caps, devising strategies and charting a new roadmap to economic liberation. One of such leaders is Cross River State governor, Senator Ben Ayade. Right from the period of his ascension to power, Ayade was clear about the direction he was headed. Buffeted on all fronts by the stark realities of surviving as a state, but realising also that Cross River has potential in agro-allied resources, refocusing on areas of comparative advantage was key to navigating the state out of the woods. One of such windows identified by the governor was cocoa. Ranked as fourth in the global output of cocoa production, Cross River could hardly be said to have significantly chalked up this premium position to her advantage until Ayade shot onto the scene with the right compass to appropriately redirect the state to assume her rightful status among the cocoa hall of famers. It is interesting to know that Nigeria, courtesy of Cross River State, is the fourth largest producer and the third largest exporter of cocoa in the world, perhaps the reason why the governor felt angry, immediately after his inauguration that the state has not been able to stake her claim among the league of global cocoa players. Like a zestful football coach with the right temperament, Ayade had to contemplate an ultramodern cocoa processing mill in the state, if anything, to right the wrong of supposed past underperformance. According to Wikipedia, aside the fact that Nigeria is rated as the fourth largest producer of cocoa in the world and the third largest exporter, the quality of her cocoa is, globally, considered the best because

its cocoa bean weighs more when compared with others. However, about 40 per cent of the cocoa produced in Nigeria is from Cross River State, while the remaining 60 per cent are shared among Ondo, Abia, Lagos, Ogun, Akwa Ibom, Delta, Ekiti, Oyo and Edo states. According to global rating, Cote d'Ivoire is the largest producer of cocoa, followed by Ghana as second; Indonesia, third and, Nigeria, the fourth: in 2016/2017 crop year, Cote d'Ivoire, in West Africa, produced 1.7 million metric tons of cocoa beans, followed by Ghana with approximately 858, 720 metric tons of cocoa with Indonesia, producing approximately 656, 817 and then Nigeria, the fourth produced 236, 521 metric tons. The backward linkage of confectionery

One of such windows identiďŹ ed by the governor was cocoa. Ranked as fourth in the global output of cocoa production, Cross River could hardly be said to have signiďŹ cantly chalked up this premium position to her advantage until Ayade shot onto the scene with the right compass to appropriately redirect the state to assume her rightful status among the cocoa hall of famers

industries to factories of semi-finished products of cocoa makes its global demand very high which accounts for reasonable percentage of the GDP of those frontier African economies that produce cocoa in large quantities. In 2016, Cote d'Ivoire produced 1, 472 million metric tons of cocoa beans which accounted for 17 percent of her GDP which is why locals in Cross River State see cocoa investment as a similitude of oil business. Instructively, cocoa goes through three stages before it gets to the finished product: from harvesting, it is processed into roasted cocoa beans; from roasted cocoa beans, it is processed into cocoa powder, cocoa liquor or mass, cocoa nib, cocoa paste before they are finally lifted by confectionary industries to produce chocolate and other derivative beverages etc. Given this corollary therefore, setting up a cocoa processing plant creates multi-level-valuechain that stimulates employment, stabilises wages and open the floodgates of prosperity which is believed to be the reason why Ayade decided to establish the ultra-modern Cocoa industry in Ikom, known to be the largest producer of cocoa in the country. Located in Yala Nkum in Ikom Local Government Area of the state, one of the conventional considerations that informed the sitting of industry is nearness to source of raw materials. The facility is designed with the capacity to crush 30,000 metric tons of roasted cocoa beans a year. According to Mr. Oscar Ofuka, Special Adviser to the governor on Cocoa Development, "the cocoa factory in Ikom is first of its kind and one of the best in Africa. It has the capacity to crush about 30,000 metric tons of cocoa beans, a year.� Continuing, Ofuka added that “on completion, we are expected to produce chocolate bars, cocoa powder, cocoa flakes, cocoa butter, cocoa wine, and other bye-products of cocoa.

It is also expected to create job opportunities for the teeming youth in the area. What His Excellency actually wants to do in Cross River, this time around, is to add value to cocoa. Before this time, cocoa was being produced and the farmers didn’t know the value. If you ask an average farmer what they use cocoa for, he or she would not be able to tell you. He or she would think it is something that is produced for export, but we are going to now add value to cocoa and begin to produce those products we can consume locally and at the end of it, we are looking at consuming about 70 per cent of the cocoa products and export the remaining 30 per cent.� On the state of readiness of the plant, the Special Adviser also disclosed that “the equipment have been paid for and any moment from now, the containers will arrive. The work is 70 per cent completed and when it comes on stream, it will give a boost to cocoa production in Cross River State." According to him, the “ultramodern cocoa processing mill will serve as an intermediary between local producers or farmers and foreign off-takers or global industries of finished products which has the potential to enhance proper integration of Cross River State into global commercial network. As a result of the forward linkage of farmers to the factory and the backward linkage of confectionary industries to the factory, Ikom Cocoa Mill is expected to be one of the most dynamic and viable agro-allied industries in Nigeria.� The facility which has the capacity of crushing 30,000 metric tons of cocoa beans per annum will no doubt impose huge demand on the production of cocoa and consequently increase the population of cocoa farmers in the state. Consequently, the Cross River State Government, through the Department of Cocoa Development, has developed a trajectory plan of increasing production by

T H I S D AY Ëž Ëœ Í´Ëœ Í°ÍŽÍŻÍś

21

FEATURES

Ayade (right) receiving harvested cocoa , during the inspection of ongoing construction work at the Cross River Ultramodern Cocoa Processing Facility in Ikom Local Government Area of the state

acquiring more hectares of land across the 18 local governments of the state, just like the 3,800 hectares acquired from Aki Osoba in Akamkpa to plant more cocoa. About five million seedlings of cocoa have been raised and transplanted with the intention of raising more. The spinoff from the mill is the expected attendant employment opportunities for the teeming youths of the state which will culminate in reduced pressure of expectation on public and civil service for employment. And because, it will engage many youths and put money in more hands, the horror of social tension and other vices, which are not functions of genetic peculiarity, but of

The ultramodern cocoa processing mill will serve as an intermediary between local producers or farmers and foreign off-takers or global industries of ďŹ nished products which has the potential to enhance proper integration of Cross River State into global commercial network. As a result of the forward linkage of farmers to the factory and the backward linkage of confectionary industries to the factory, Ikom Cocoa Mill is expected to be one of the most dynamic and viable agro-allied industries in Nigeria

The Cocoa processing factory in Ikom under construction

unemployment and poverty, are expected to be drastically reduced leading further to enhanced systemic stability. With the expected revenue the state from the plant, it is expected to shield the state from both international and national revenue shocks known as recession.

The setting up of the Ikom cocoa processing mill is no doubt intellect at work, especially in a recess economy such as ours, where money has become a ghost response to the demanding need of infrastructure and industrialisation. It is also true that when a man truly puts his soul above his problems, his body will

naturally follow to realise his vision and turn his dreams to reality. In Cross River, it is now a documented fact that Ayade has since put his soul above the crushing problems of the state and thereby allowing his body to follow, the result of which is birthing the Ikom ultramodern cocoa processing mill.

22

IMAGES

L-R; Former Minister of Education, Dr. Oby Ezekwesili; Ogun State Commissiner for Commerce and Industry, Mr. Bimbo Ashiru and the Head of Chancery, High Commission of India in Lagos, Mr. Subbu Ramesh, during the launch of Airtel Touching Lives Season 4, held at Eko Hotel, Victoria Island in Lagos....recently

T H I S D AY Ëž Ëœ Í´Ëœ Í°ÍŽÍŻÍś

Photo Editor ĂŒĂ“Ă™ĂŽĂ&#x;Ă˜ ÔËÖË Email Ă‹ĂŒĂ“Ă™ĂŽĂ&#x;Ă˜Ë›Ă‹Ă”Ă‹Ă–Ă‹ĚśĂžĂ’Ă“Ă?ĂŽĂ‹ĂŁĂ–Ă“Ă Ă?Ë›Ă?Ù×

L-R; Group Head, Consumer Liability, First City Monument Bank (FCMB), Mr. Shamsideen Fashola; Head, Communications of British Council, Mrs. Edemekong Uyoh; Trade Commissioner, High Commission of Canada, Mrs. Azuka Ogundeji; Representative of London South Bank University, United Kingdom, Mr. Alex Malley; Executive Director, Retail Banking, First City Monument Bank (FCMB), Mr. Olu Akanmu; Managing Director, MOD Group, Mr. Michael Dosunmu; Senior Commercial Specialist, Embassy of the United States of America, Mrs. Ngozi Nkwoh and Zonal Head, Ikeja 1 of FCMB, Mrs. Rafat Mohammed, during the launch of the FCMB Education Advisory Service in partnership with MOD Group. The ceremony took place on May 30, 2018 in Lagos.

L-R: Presidential Aspirant,Alliance for New Nigeria(ANN),Dr.Eleshama Ideh; Deputy National Secretary ANN,Dr. Osita Okonkwo and Director of Organisations and Operations,Nigeria Intervention Movement(NIM), Animashaun Ajiboye during the Presidential declaration of Ideh for ANN in Abuja... recently

L-R; Permanent Secretary Federal Ministry of Enviroment, Dr Shehu Mahmud Ahmed; Minister of State, Ministry of Enviroment, Ibrahim Usman Jibril and Senior Special Assistant to the President, on Niger Delta New Vision, Edobor Iyamu during a press brieďŹ ng on the commemoration of World Enviroment Day with theme ‘Beat Plastic Pollution’ held in Abuja...recently julius atoi/ THISDAY

L – R: Pastor Paul Betiku of Christ Apostolic Church (C.A.C), Minneapolis Minnesota U.S.A; Pastor Dayo Akintunde of PFN Ifo Province ii ; General Overseer, Behold The Glory of God Ministry, Akure , Rev Tunde Olufowobi and The convener of “ONE RACE PROGRAMME�, Pentecostal Fellowship of Nigeria (PFN), Pastor Sunday Steven David during the World Community Church Minister’s conference by Paul Betiku at Unity in Power Of God Church Rafco Aboro Agbado Ogun State...recently

L-R; Group Head, Corporate Communications & External Aairs, Access Bank Plc, Amechi Okobi; Group Managing Director/CEO, Herbert Wigwe; Chief Executive OďŹƒcer, Slum to School, Otto Orondam and Chief Executive OďŹƒcer, ACT Foundation, Osayi Alile during the bank’s visit to Slum to School to celebrate the 2018 Children’s Day in Lagos...recently

Grand Matron, ,Rose of Sharon/ First Lady of Lagos State, Mrs. Bolanle Ambode(middle)anked by members of Rose of Sharon Foundation led by its Founder, Mrs. Folorunso Alakija on a visit to Mrs Ambode to brief her on the preparation for the upcoming 10th Anniversary celebrations of the foundation in Lagos...recently

23

T H I S D AY Ëž Ëœ Í´Ëœ Í°ÍŽÍŻÍś

BUSINESSWORLD R A T E S MONEY MARKET OBB OVERNIGHT

A S

A T

3.33 % 4.42 %

1-MONTH 3-MONTH

Email chika.amanzenwachukwu@thisdaylive.com 08033294157, 08057161321

J U N E 1 , 2 0 1 8

REPO CALL

Group Business Editor Chika Amanze-Nwachuku

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

3.50% ʹ Ϲ ʹ˛ͳ͎Ϲ

357.99 % 0.03% -0.72%

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

3.47% ͜˛ʹʹϹ

EXCHANGE RATE ͹͎ʹ˚ͯ ̊ ̊

Quick Takes RMB Nigeria Hosts Art Exhibition

CADBURY TEAM VISITS DANGOTE

L-R: President of Dangote Group, Aliko Dangote; Managing Director, Cadbury Nigeria Plc, Amir Shamsi; and Director, Corporate and Government Affairs, Cadbury Nigeria Plc, Bala Yesufu, during a courtesy visit to Dangote Group corporate headquarters in Lagos ... recently

Moody’s: Nigeria’s Perennial Budget Delay Reflects Weakness of Institutions Obinna Chima Moody’s Investors Service has described the perpetual delay in passing Nigeria’s annual budget as a reflection of the weakness of institutions in the country. Moody’s Senior Analytical Advisor for Africa, Mr.AurÊlien Mali said this in an interview with THISDAY in Lagos. More than two weeks after Nigeria’s Senate passed the 2018 Appropriation Bill following the consideration and adoption of the report by the joint National Assembly Committee on Appropriation, President Muhammdu Buhari was yet to sign it into law as at Monday. The budget of N8.6 trillion was passed six months after the president presented it to the legislature. But Mali pointed out that the

ECONOMY budget delays “speaks to the weakness of the institutions in Nigeria,� adding that it is “has also been a long term constrain for the rating.� The analysts stressed that the ability for Nigeria to fully implement its annual budget remains key for the success of its Economic Recovery and Growth Plan (ERGP). In addition, he noted that implementing is budget is also important to improve the state of infrastructure in the country. “Nigeria needs better infrastructure to be able to take off in terms of sustainable growth and reaching a growth rate that supports the living standard of Nigerians. “We expect 2.8 per cent growth

in Nigeria this year. But it is still not enough to really make much changes. So, to be successful, the ERGP needs to be implemented. “So, it speaks again to the ability to raise resources so that infrastructure can be built,� the analyst explained. The ERGP explains the economic policies of the government over the medium term. But he stressed the need for its implementation. “For instance, implementing the budget fully is the key to achieving those targets,� he added. Furthermore, Mali who acknowledged that while Nigeria and other African have infrastructure deficit that needs to be funded, he advised against excessive debt. He stressed that countries must always have their eyes

on their debt level as well as debt service. According to him, the debt profile of any nation ought to be sustainable. “So, in theory, you borrow as much as you can repay because if you can’t repay, there is a big problem. So, the issue is the borrowing that had been occurring in most African countries during this period of difficulties, a portion has been mostly funded recurrent expenditures such as salaries and so on, and not to borrow to build infrastructure. “Yes, the infrastructure is important, but it cannot be funded without a sustainable debt profile and debt service level. “Today, Nigeria spends close to 40 per cent of its revenue just Continued on page 24

Equities Market to Benefit from Pension Multi-Fund Structure Implementation Goddy Egene There are high expectations that the Nigerian equities would witness more patronage by Pension Fund Administrations (PFA) as from July 1, 2018 when the new multi-fund structure introduced by National Pension Commission (PenCom) will become operational. While PFAs are allowed by law to invest about 25 per cent of their pension assets in equities, the level is below 10 per cent as most of them prefer investing in federal government bonds.

CAPITAL MARKET But in a bid to resolve the challenge of asset-liability risk management experienced by pension funds and improve returns on pension assets, PenCom introduced the multifund structure. Under the new structure, the funds are in four categories. While Fund 1 is targeted at people of 49 years and below who in the quest for higher returns are willing to take more risks, Fund 2 is aimed at people who, are aged 49 years and below but are still

working and are satisfied with moderate returns and levels of risks. Fund 3 targets people 50 years and above but still working and have very low risk appetite while in Fund 4 are retirees who have the lowest risk profile of all categories. Analysts at FSDH Merchant Bank Research said the development would favour the equities market as PFAs would channel more funds to the market. “The expected additional fund allocation to the equity market may change the current downward trend in the equity market as the market receives

more liquidity. Stocks that have strong fundamentals and that pay interim dividend may attract the expected investment from the PFAs,� they said. PenCom Investment Supervision Personnel, Mr. Ibrahim Kangiwa, had explained that the main objective of the RSA multi-fund investment structure is to resolve the challenge of asset-liability risk management experienced by pension funds. According to him, this would be achieved by: better aligning the risk and return expectations Continued on page 24

As part of the ďŹ fth anniversary celebratory activities of Rand Merchant Bank Nigeria (RMB Nigeria) artists Uche Joel Chima and Kelani Abass have been invited to exhibit pieces from their most recent bodies of work.Chima and Abass are well established artists and have exhibited internationally.Using storytelling, their collections reect on society, work, memory and identity. A statement from the bank explained that the exhibition would also feature works by emerging artists currently in or recently graduating from tertiary instiutions.“The pieces from Olarinde Ayanfeoluwa, Akin Aluko, Washington Masdioluwa and Chioma Ekpetorson provide a thoughtful lens, which capture the everyday and shared emotions of their subjects. “At RMB, we believe art, culture and creativity have been the glue that binds together, not only hearts and souls, but entire societies and nations.“And which also lifts the heaviness and lightens the darkness. That is one of the reasons we do not only invest in and support businesses and the economy; we also invest in and support the arts,â€? the CEO of RMB Nigeria, Michael Larbie said. He pointed out that the bank support the arts because it believes that the creative economy has the potential to generate economic growth, employment and trade.“And we believe that the growth of this sector will enable many more Africans to engage eectively and proďŹ tably in the broader economy.“In South Africa, RMB is recognised as driving growth in the creative economy through supporting initiatives for both audience development and artist exposure in many forms of the creative arts, including music, dance, drama and visual arts.b“In Nigeria, we aim to support artists and organisations to develop and support a creative mindset for a creative economy,â€? he added.

Keystone Releases Q1 Results

Keystone Bank Limited results for the ďŹ rstquarter ended March 2018 showed that the bank recorded a proďŹ t before tax of N3.72billion, compared with a loss of N2.79billion over the same period in 2017.Its deposit grew by 42 per cent or N84billion to N283 billion at the end of the quarter March 2018. Following the successful completion of AMCON’s divestment from the bank, a ďŹ ve-man transitional board was set up to oversee its re-positioning for growth and competitiveness. The transitional arrangement was successfully concluded on August 15, 2017 with the assumption of oďŹƒce of the substantive MD/CEO.Aside revamping all its branches across the country and bolstering its workforce, a statement explained that the bank has invested substantially in technology and developed fully integrated service models that enable customers access banking services through a wide range of channels. The Keystone mobile banking application boasts of several unique features such as the ability to bank with zero data, the Oxygen Chat Banking and several others that have re positioned the bank to compete eectively in the sector.

PenCom to Hold VeriďŹ cation for Retirees

The National Pension Commission (PenCom), will between June 25 and August 17, carry out veriďŹ cation exercise for all prospective retirees who would be retiring in the year 2019 from the public service. The commission said the verification exercise will take palce in 15 centers across the country. To make the exercise a seamless one, the commission, last Monday kicked off sensitisation and public enlightenment workshops in the 15 centers in order to prepare prospective retirees on the steps to take towards a hitch free retirement life. Circular sent to the prospective retirees by the commission to this effect reads “This is to inform all employees of federal government ministries, departments and agencies (MDAs) due for retirement between January and December 2019 under the Contributory Pension Scheme (CPS) that the National Pension Commission (PenCom) is organising the nationwide 2018 Pre-retirement Workshop. The Workshop is scheduled to hold from 4 to 12 June, 2018.

“The implementation of the Financial Inclusion Strategy will help to activate and attract the huge chunk of the economy’s idle funds into the formal banking system�

CEO, FirstBank Nigeria Limited,

Mr. Adesola Adeduntan

T H I S D AY Ëž Ëœ Í´Ëœ Í°ÍŽÍŻÍś

24

MOODY’S: NIGERIA’S PERENNIAL BUDGET DELAY REFLECTS WEAKNESS OF INSTITUTIONS to service its debts. All these resources could be directed to build schools, hospital, etc,� Mali explained. He pointed out that following the drop in commodity prices, a lot of African countries witnessed the deterioration of government’s balance sheet. “So, now that there is an accommodative oil price, you will see stabilisation and a bit of support in the short-term for government revenue. “But it doesn’t mean that the weaknesses or fragility exposed by the low commodity prices have been addressed. “There have been efforts to raise non-oil taxes or non-commodity taxes in many countries, but still government revenue remains relatively low in many African countries and is subject to commodity price volatility. “The balance sheets of governments in the region have also deteriorated and that poses some risks over the medium,� Mali said. Commenting on the currency swap agreement that was signed between Nigeria and China recently, the analyst said: “This is important because a big portion of the non-oil imports are Chinese goods. So, it means that it will lower the demand for dollars. EQUITIES MARKET TO BENEFIT FROM PENSION MULTI-FUND STRUCTURE IMPLEMENTATION of contributors; better matching of pension assets and liabilities; as well as diversification of pension fund portfolios, as minimum limits are set for aggregate investments in variable income securities for each fund. The Managing Director and Chief Executive Officer of Stanbic IBTC Pension Managers, Mr. Eric Fajemisin, had said that the company was ready to key into the implementation of new structure. According to him, the new structure would help in deepening asset accumulation in the country, and provide the crucial capital required for investment in critical sectors of the economy.

Edo Set to Seal $500m Vehicle Assembly Plant Deal Adibe Emenyonu in Benin City The growing investor confidence in Edo State, weekend earned it yet another $500 million auto assembly plant deal from Chinese investors. The state governor, Mr. Godwin Obaseki, disclosed this during a working visit to Time Ceramics Company Nigeria Ltd, manufacturers of floor tiles at Utesi Community in Ikpoba-Okha Local Government Area of the state. Obaseki explained that his administration is vigorously pursuing the goal to turn the state into an industrial hub and a major investment corridor by strengthening the state’s security architecture and reform of critical business-support institutions to improve the ease of doing business. He noted that already, his team’s efforts are yielding results and assured that with the new interest to set up an auto assembly plant in the state, more job offerings are on the way. “Several Chinese companies are already operating in the state. In a few weeks from

Obaseki

now, we will be hosting the investors who want to set up a vehicle assembly plant in Benin City to discuss details of their investment,� the governor said. He further added that the confidence of the Chinese investors in Edo State is also as a result of the success stories of Time Ceramics and other Chinese investments in the state. According to him, more in-

centives are being packaged for existing and potential investors as part of strategies to woo more investors to the state. After a tour of Time Ceramics, the Managing Director Huang Shi Bin, expressed delight at the governor’s support for private investors and his commitment to their success in the country. He appealed to the governor to help speed up the develop-

ment of the Benin River Port, which he said would make it easier for them to access the international market, where the demand for their products is increasing. Bin pledged to support the developmental efforts of the state government through the creation of jobs for Edo youth and quality products for the local market.

CONGRATULATIONS

L-R: Managing Director, Management Transformation Limited, Dr. Wura Abiola; Head OD & Talent Acquisition, Dipo Adebajo; Chief Human Resource Officer,Temi Dalley;Talent & Performance Management Officer, Adesola Awofeso and Head, HR Business Partnering, Olanike Martins, all of Sterling Bank Plc , during the presentation of the 2018 Great PlaceToWork Award for Best Quality of Life – Large Corporates to the Bank...recently

FG Tasks S’south States on Infrastructure Deficit, Ease of Doing Business Adibe Emenyonu in Benin City The federal government has enjoined states in the South-South region to close ranks and explore its human and natural resources, excluding crude oil, as it pledged to tackle the infrastructural challenges, hindering ease of doing business in the region. Senior Special Assistant to President Muhammadu Buhari on Industry, Trade and Investment, Dr. Jumoke Oduwole, gave the advice in Benin City, on Monday, at the Regional Stakeholder Forum on the Ease of Doing Business Reforms and

Expected Impact on Small and Medium Enterprises (SMEs). This is as the Governor of Edo State, Mr. Godwin Obaseki, on Monday, ratified the commencement of operations of JARA Shopping Mall in Benin City. Speaking at the deal signing ceremony in Government House, between JARA Group and the Edo Development and Property Agency (EDPA), Obaseki noted that his administration will ensure that world class businesses set up shops in the state to boost economic activities. He charged representatives of the JARA Group to

speed up the implementation of the deal and commence operations, assuring of the state government’s support for businesses located in the state. Chief Executive Officer, JARA Group, William Snollaerts, said his team will kick off with one outlet as pilot, which will lead to several outlets in Benin City and other parts of the state. “The initiative is to ensure that there is improved way of vending food products. JARA Mall is designed to employ 45 people per mall and we intend to set up a minimum of ten malls in the short term, with the

first mall scheduled to open before the end of the year,� Snollaerts said. At the South-South Stakeholder Forum on the Ease of Doing Business, Oduwole explained that the region is a vast business corridor “connecting people and markets, with the potential to emancipate the country economically if the constituent states collaborate to explore their human and other resources, beyond crude oil.� She said that the federal government is working to address the challenges posed by power and other infrastructural facilities, in

order to support Micro, Small and Medium Enterprises (MSMEs) as they are the engine that would stimulate Nigeria’s economy growth. “We know the enterprising nature of men and women in the region and with markets such as Oba Market readily available to sell these products, it is an opportunity for MSMEs to thrive.� Earlier, Obaseki, in his opening remark, said his administration is creating a friendly environment, where both domestic and foreign investors can thrive, and added that Edo is structured to grow local investment to support foreign investors and guarantee the place of SMEs.

METKA Boosts Electricity Access in Nigeria with Off-grid Solutions Ejiofor Alike Group Business Editor

Ă’Ă“Ă•Ă‹ Ă—Ă‹Ă˜Ă¤Ă?Ě‹ ĂĄĂ‹Ă?Ă’Ă&#x;Ă•Ă&#x; AgriBusiness/Industry Editor

Ă™Ă˜Ă‹ĂžĂ’Ă‹Ă˜ äĂ? Comms/e-Business Editor

Ă—Ă—Ă‹ Ă•Ă™Ă˜Ă”Ă“ Capital Market Editor

ÙÎÎã Ă‘Ă?Ă˜Ă? Senior Correspondent

Ă‹Ă’Ă?Ă?Ă— Ă•Ă“Ă˜Ă‘ĂŒĂ™Ă–Ă&#x; (Advertising) Correspondents

Ă’Ă“Ă˜Ă?ĂŽĂ&#x; äĂ? (Aviation) Ă“Ă˜ĂŽĂ‹ ĂœĂ™Ă•Ă? (Labour) ĂœĂ™Ă—Ă™Ă?Ă?Ă–Ă? ĂŒĂ“Ă™ĂŽĂ&#x;Ă˜ (Cap Mkt) ÔÓÙĂ?Ă™Ăœ Ă–Ă“Ă•Ă? (Energy) Ă‹Ă—Ă?Ă? Ă—Ă?ÔÙ (Nation’s Capital) ĂŒĂ“Ă˜Ă˜Ă‹ Ă’Ă“Ă—Ă‹ (Money Mkt) Reporters

Ă&#x;Ă—Ă? Ă•Ă?Ă‘Ă’Ă? (Money Market) Ă™Ă?Ă‹ Ă–Ă?Ă•Ă’Ă&#x;ÙÑÓĂ? (Maritime)

The strategic business unit of MYTILINEOS S.A, leading international EPC contractor and industrial manufacturing group, METKA is set to boost access to power with the Nigeria launch of EXERON. EXERON is unique and innovative power conversion system that provides reliable power in non-electrified regions and unreliable grid locations. A result of the combination of resources and expertise of METKA and International Power Supply (IPS), the product is the most advanced hybrid off-grid system delivering

uninterrupted output power through intelligent control of various energy sources, including solar panels, wind turbines, the electrical grid, and/or diesel generators. Speaking during the recent unveiling of the product in Lagos, Head of Special Projects, Rural Electrification Agency (REA), Anita Otubu noted that “Our sole mission at the REA is to provide access to reliable electric power supply for rural dwellers, and the launch of EXERON in Nigeria is a welcome development as it would contribute significantly to the realisation of our objectives.� Also speaking on how the system works, METKA Project Director, Dimitrios

Triantafyllopoulos, explained that EXERON intelligently combines various power sources with battery storage to reliably provide baseload power. “Battery banks are used to store energy for later use at nighttime, for peak shaving during daytime or to provide resilient energy to the load during grid outages. It is an affordable and efficient solution suitable for a wide range of applications, including residential, industrial, oil & gas, telecoms, defense and security,� he added. Detailing the features of the product, Operations Manager, METKA West Africa, Emmanuel Elegbe described EXERON as a complete energy

management system. “As such, no costs and time are needed for integrating parts from various manufacturers. The system comes pre-configured from the factory, allowing for quick and easy installation,� he said. “In addition, the intelligent battery management system is able to extend the life of the storage system up to 30 per cent. And because the system’s modular architecture allows load sharing between modules, the output power remains unaffected in the rare case of failure. Another key advantage of EXERON is that the modular system can easily be scaled up to meet tomorrow’s energy needs;

power upgrade takes just a few seconds and no tools are needed,� he added. Off-grid applications represent a quickly growing segment of the global power solutions market, and Nigeria is no exception. To this end, the federal government instituted the Rural Electrification Fund (REF) to enable more private sector participation in power projects such as grid extension, interconnected mini-grid, isolated mini-grid, isolated micro/nano grids and stand-alone systems. A minimum of $10,000 and maximum of $300,000, or 75 per cent of t h e t o t a l p ro j e c t c o s t , w h i c h e v e r was less, could be given as grant.

T H I S D AY Ëž Ëœ Í´Ëœ Í°ÍŽÍŻÍś

25

Dangote Tasks Private Sector on Women Empowerment President of Dangote Group, Aliko Dangote has urged private sector operators and government at all levels to adequately empower women as a means of poverty reduction. Dangote said once our women have been successfully enabled to support their homes and families, poverty will gradually become a thing of the past in the country. Speaking while flagging-off the disbursement of N130million to 13,000 women in Lafia, Nasarawa state under the Aliko Dangote Foundation micro-grant scheme, Dangote promised to do all within his power to spread his wealth across the country, towards reduction of poverty in the country. The Micro grant scheme, according to Dangote was one of the components of the economic empowerment programme of the foundation. He said the grant was aimed at providing the disadvantaged

and vulnerable in the society with an unconditional N10, 000 cash transfer to boost their household income generation. “This we believe will help the beneficiaries meet their livelihood needs,� he added. He explained that the scheme, which was launched a few years back, was targeted at a minimum of 1,000 women in each of the 774 Local Government Areas (LGAs) of the country. “It is estimated that we will spend about N10 billion on the scheme, some states with large population will get a little bit more than others,� he said. Dangote said he started the foundation in 1993 with the belief that by supporting social and economic changes through strategic investment and interventions that improve the lives of the less privileged he would make a positive difference in the growth of the country’s economy. The four major goals of the

foundation are, according to him are health and nutrition, education, economic empowerment and disaster relief. He said the foundation was partnering with Access bank to open bank accounts for the all the 13,000 beneficiaries in the state, so they can be issued with customised debit cards. He said the essence was to introduce banking to the beneficiaries in their local communities. Furthermore, he said, the beneficiaries’ accounts have been credited with the grant and that the bank’s agents have been adequately trained and mobilised to provide the beneficiaries with the basic banking activities. “The foundation and the Access bank team will be going to each of the 13 LGAs in the state to distribute the cards to the selected beneficiaries in order to be able to redeem their cash,� Dangote said.

Local Content: Solewant Plans LSAW Pipe Milling Plant in Nigeria Ejiofor Alike As part of its commitment to local capacity development, Solewant Group has unveiled its ongoing investment in Longitudinal Submerged Arc Welded (LSAW) pipe milling plant in Nigeria to meet up with the growing needs for steel pipes in upcoming offshore and onshore projects in sub-saharan Africa. Group Executive Director of Solewant Group, Mr. Matthew Aganren stated that the company’s Steel pipe Manufacturing Plant is a technology that produces 12- inch to 56-inch steel pipes for the oil and gas industry. He disclosed that the company is now able to conform to tailormade solutions for the most demanding project requirement. According to him, the company is taking advantage of its strong industrial system, years of industry experience in pipeline corrosion protection, extensive inspection and testing programmes with state- of –theart multilayer pipe coating plant, concrete weight coating plant and laboratory facilities. Speaking during the presentation of oil and gas competence by his company at the Nigerian

Pavilion in this year’s Offshore Technology Conference (OTC) held in Houston, Texas, United States , Aganren said the participation of Solewant in this year’s edition of the OTC was in line with the vision of the Group to showcase its brand new pipe coating plant, concrete weight coating plant and ultra modern pipe coating laboratory facilities. He added that these automated factories were configured to respond to corporate dream of Solewant and to become one of the major participants in value creation in Nigeria’s challenging business environment, local job creation, increased GDP, and technology transfer. “We are known for quality and visitors to our stand can testify to the quality of facilities that we have acquired over the years, through slide that shows how our workers execute various projects at our facilities in Nigeria,� he said. He added that the company is committed to the formation of strategic, veritable, formidable partnership and consortium with foreign technical partners. According to him, the alliance is revealed in the competence and proven performance in line pipe and field joint coating services for leading indigenous

and international oil and gas services firms. He further pointed out that this competence and proven performances have given the company a solid reputation that is built on consistency, expertise and client support. He noted that it has also helped the company to be strategically positioned to provide both unique pipeline coating equipment, necessary skills and standard end to end pipe protection services to oil and gas companies. In his remark, the Group Managing Director of NNPC, Dr. Maikanti Baru stated that the vision of NNPC is to encourage Steel pipe production in Nigeria within the next five years. Solewant Group with its subsidiaries - Solewant Nigeria Limited, Solewant Specialty Protective Coatings & Paints Limited, and Field Joint Coating Limited, provides steel pipe and field joint coating services in support of oil, gas, water, chemical processing, mining, refining, electric utility, transportation and marine industries. Reacting to the presentation by Solewant, Baru said that the vision of NNPC is to encourage Steel pipe production in Nigeria within the next five years.

Tech Park Set to Transform Nigeria’s Economy Peter Uzoho The Zone Tech Park is seeking to turn the economy around using a pool of technological capabilities in Nigeria to address the challenges currently plaguing the economy. According to the company, work is currently in top gear at its lab in Gbagada, Lagos, in preparation for the demonstration of its offerings and the showcasing of startups and different players in the entire technology value chain which holds June 28. The park is an economic hot spot where new technologies germinate at an astounding

rate and where pools of capital, expertise, and talent foster the development of new industries and new ways of doing business. Its innovation-led approach intends to help individuals, private and public enterprises develop and deliver disruptive innovations, and scale them faster, and promises to help corporations innovate like start-ups and help start-ups scale to become corporations, from research, ventures, educational programs, studio, innovation centres and events. The innovative organisation has a vision that is hinged on the massive transformative

purpose of changing the status quo and helping individuals and businesses in Nigeria, and ultimately Africa realise their full potentials through education, venture building, and strategic enterprise support. Programme Director, The Zone Tech Park, Mr Taiwo Oyewole, said: “At the core of what we do is the economy and social impact – it’s important for us. If there’s no value exchange the economy can’t grow well on itself. So, we are bent on creating platform where startups and corporates will be able to innovate. �

ELEVATING TO THE NEXT LEVEL Marie-Therese Phido

Seven Core Beliefs of Great Bosses Great bosses developed me, believed in me and had a pivotal role in who and what I am today. I cannot overemphasise the immense benefits of having a boss who pushes you to excel and has faith in you. Dr. Travis Bradberry is the award-winning co-author on emotional intelligence, in his article on, “Seven Core Beliefs of Great Bosses, inspired me to share his beliefs on this topic with you. He said: “Great bosses change us for the better. They see more in us than we see in ourselves, and they help us learn to see it too. They dream big and show us all the great things we can accomplish. Great leadership can be a difficult thing to pin down and understand. You know a great leader when you’re working for one, but even they can have a hard time explaining the specifics of what they do that makes their leadership so effective. Great leadership is dynamic; it melds a variety of unique skills into an integrated whole. One thing is certain—a leader’s actions are driven by his beliefs. It’s through a leader’s actions—and ultimately her beliefs—that the essence of great leadership becomes apparent. Great leaders inspire trust and admiration through their actions, not just their words. Many leaders say that integrity is important to them, but only those leaders who truly believe it walk their talk by demonstrating integrity every day. Harping on people all day long about the behavior you want to see has only a tiny fraction of the impact that you achieve by believing so deeply in the behavior that you demonstrate it yourself. Great bosses believe in their people, and this belief drives them to create an environment where people thrive. Let’s explore some of the driving beliefs that set great bosses apart from the rest of the pack. Growth should be encouraged, not feared: Average bosses fear their smartest, hardest-working employees, believing that these individuals will surpass them or make them look bad. They hesitate to share information or to enable authority. Exceptional bosses, on the other hand, love to see their employees grow. They are always grooming their replacements and doing whatever they can to create leaders. Research shows that the number-one thing job seekers look for in a position is growth opportunity and that 80% of all job growth occurs informally, such as in conversations with managers. Exceptional bosses want their best employees to maximize their potential, and they know that good feedback and guidance are invaluable. Employees are individuals, not clones: Average bosses lump people together, trying to motivate, reward, and teach everyone in the same way. Exceptional bosses treat people as individuals, respecting the fact that everyone has their own motivation and

Great bosses believe in their people, and this belief drives them to create an environment where people thrive. Let’s explore some of the driving beliefs that set great bosses apart from the rest of the pack

style of learning. Something different makes each employee tick, and the best bosses will stop at nothing to figure out what that is. Employees are equals, not subordinates. Ordinary bosses treat their employees like children; they believe that they need constant oversight. These bosses think that their role is to enforce rules, make sure things run their way, and watch over people’s shoulders for mistakes. Exceptional bosses see employees as peers who are perfectly capable of making decisions for themselves. Rather than constantly stepping in, exceptional bosses make it clear that they value and trust their employees’ work and only intervene when it’s absolutely necessary. Work can and should be enjoyable: Ordinary bosses see work as something that everyone has to do, whether they want to or not. They believe that their role is to make sure that their employees don’t slack off or grow lazy. They say things like, “If it weren’t for me, nothing would ever get done around here.� However, exceptional bosses love their jobs and believe that everyone else can too. They give people assignments that align with their strengths, passions, and talents. They celebrate accomplishments and douse people with positive feedback when they do good work. Diversity, not like-mindedness, bears fruit: Average bosses want their employees’ ideas to align with their own, and because of this, they try to hire like-minded individuals. They encourage their employees to think similarly and reward those who “just put their heads down and work.� Exceptional bosses actively seek out a diverse range of individuals and ideas. They expose themselves and their companies to new ways of thinking. Motivation comes from inspiration, not agony: Ordinary bosses think that strict rules and rule enforcement drive employees to work effectively. They believe that people need to fear layoffs, explosions of anger, and punishment in order to operate at 100%. People then find themselves in survival mode, where they don’t care about the product, the company, or the customer experience; they only care about keeping their jobs and appeasing their boss. Exceptional bosses motivate through inspiration—they know that people will respond to their infectious energy, vision, and passion, more than anything else. Change is an opportunity, not a curse: Ordinary bosses operate by the motto, “This is the way we’ve always done it.� They believe that change is unnecessary and that it causes more harm than good. Exceptional bosses see change as an opportunity for improvement. They constantly adapt their approach and embrace change to stay ahead of the curve. Bringing It All Together If you’re currently a boss, is this how your employees would describe your beliefs? If not, you’re leaving money, effort, and productivity lying on the table. You’re also probably losing some good employees, if not to other jobs, then at least to disengagement and lack of interest�. Have you ever had a great boss? Please share your thoughts with me, as I learn just as much from you and share your experience with others. .

Marie-Therese Phido is Sales & Market Strategist and Business Coach Email: mphido@elevato.com.ng tweeter handle @osat2012 TeL: 08090158156 (text only)

T H I S D AY Ëž Ëœ Í´Ëœ Í°ÍŽÍŻÍś

26

Olusoga: I-invest Will Enrich Nigerians THISDAY spoke with Oluseye Olusoga, CEO of Parthian Partners, the company collaborating with Sterling Bank to deliver a new-to-the-world solution which makes it easy for all and sundry to invest in treasury bills in a secure manner. Excerpts: We are entering unchartered waters and that is always exciting. Most importantly, we are changing the way things are done and putting the customer’s interest at the forefront. Due to its convenient and secure nature, it possibly will herald Nigeria’s evolution into a high-saving society where government will access to low cost funds to develop infrastructure, and citizens having enough for the type of retirement they desire. I-invest is just about creating a future of shared prosperity for Nigeria and Nigerians Is Parthian Partners fully equipped to exploit this unique window of opportunity? Yes, with our wealth of knowledge in the industry and relationships within the banking sector - such as our collaboration with Sterling Bank in this endeavour - Parthian Partners is fully equipped to take advantage of this golden opportunity.

Olusoga

What is I-invest all about and how does it work? I-invest is an investment application that was developed to enable members of the public invest in treasury bills from any location at their convenience. It was created by Parthian Partners with the support of Sterling Bank to promote investment culture among Nigeria’s middle-class populace that save sparingly. The savings opportunity availed by I-invest can be a good protection against temporary job loss, sickness, and even retirement. As you are aware, treasury bills are safe investments that allow members of the public to invest in the development of Nigeria with very little to no risk while ensuring guaranteed and healthy returns on investments. As to how it works, it’s all about convenience. Currently, in order to invest in T-bills, one has to go to a bank, speak to an account officer, fill forms and deal with all sorts of verification requirements. With I-invest, if you wish to invest in T-bills, all you need is a smart phone and access to the internet. Armed with these, the user simply downloads the I-invest app from Google Play Store or App store on IOS. The user then follows the prompts on the app to complete the registration process in order to create a personal account and a unique customer identification. The user can then load a minimum of N100,000 into his wallet to start investing. Once the user’s wallet is loaded, the app makes it easy to select a tenor, and pay the amount the customer wants to invest in T-bills at the prevailing rate at the time of purchase. Again, the app makes this easy by giving multiple options, from direct transfer to using a debit card. Users can also pay via the e-bills platform on the internet banking portal of their banks. The e-bills mode of payment

is efficient and quick and should be used more often than it is currently being used. The treasury bills are supplied by Sterling Bank and are kept with a duly regulated custodian to ensure the customers’ investments are safe and secured. The I-invest app merely makes the process simple by cutting through the red tape. I should also mention that it is important that users update their Know Your Customer (KYC) requirement on the app to avoid any delays in accessing their funds. Is the Nigerian market ready for this innovation now? Certainly. Nigerians should never be underrated when it comes to the adoption of innovation and technology. More and more people in the country have smart phones as well as access to the internet and we are seeing an increase in the use of apps and smart codes

With our wealth of knowledge in the industry and relationships within the banking sector - such as our collaboration with Sterling Bank in this endeavour Parthian Partners is fully equipped to take advantage of this golden opportunity

for accessing traditional banking services. I-invest builds on that foundation. Before now, treasury bills and access to certain banking services have always been reserved for the elite or sophisticated investor but I-invest will change all that because it makes investing more accessible to the average Nigerian. The market has always existed; it is the innovation that was missing. Are there any buffers for I-invest users against the menace of identity theft and payment fraud? Yes, the app only allows transfers into accounts linked to users’ BVN meaning that any money invested, or any gains made cannot be transferred to any unrelated account or third party. Given the peculiar infrastructure challenge in Nigeria, do you think Fintechs like Parthian Partners can make a difference? Parthian Partners is not a fintech company but a regulated financial institution promoting technology as an enabler. Without speaking to our nation’s infrastructure, we believe that Nigeria currently provides an enabling environment that grants a fair amount of latitude to innovators in the fintech space. As long as that continues, there will always be movers in the industry coming up with new and innovative ways to circumvent any challenges. I should also mention that Nigeria’s use of technology in banking and finance is quite advanced when compared with more developed countries. So, we can say despite the challenges, Nigeria will thrive and players in fintech already are, and will continue to make a difference.

Tell us about your partnership with Sterling Bank? It’s a collaborative partnership with the customer in mind. The two institutions came together to take fintech in Nigeria a step further than the traditional airtime purchase and money transfer services. In what ways will the app deepen the money market and ultimately the economy? The more people invest on the app the bigger the money market becomes. T-bills are a means of lending to the government for infrastructure development, among other needs. With more money available to government, the cost of funding projects will crash and become lower. So, with I-invest, we are all set to play our part in building Nigeria’s economy. Besides Sterling Bank, can customers of other banks use the I-invest app? Yes. The app was not created for Sterling Bank customers only. It was built for every Nigerian with a smart phone and internet access. Customers of all banks in Nigeria can invest on the app easily and conveniently. Are you also eyeing other markets on the African continent? We are focused on getting Nigerians to embrace the app first but may consider introducing it in other African countries in the future. Finally, what excites you most about the future of I-invest? We are entering unchartered waters and that is always exciting. Most importantly, we are changing the way things are done and putting the customer’s interest at the forefront. Due to its convenient and secure nature, it possibly will herald Nigeria’s evolution into a high-saving society where government will access to low cost funds to develop infrastructure, and citizens having enough for the type of retirement they desire. I-invest is just about creating a future of shared prosperity for Nigeria and Nigerians.

27

T H I S D AY Ëž Ëœ Í´Ëœ Í°ÍŽÍŻÍś

Techpoint Forum Tasks FinTech, Banks on Financial Inclusion Emma Okonji Speakers at the Techpoint Inspired 2018 forum, which held in Lagos recently, identified key factors that will drive technology growth among African countries. The speakers equally tasked the Banks and Financial Technology (FinTech) service providers to collaborate and come up with solutions that will

deepen the financial inclusion drive of the Central Bank of Nigeria (CBN). Decrying the huge volume of physical cash that is still in the hands of Nigerians, which negates CBN’s cashless policy that seeks to reduce physical cash flow and encourage electronic transactions for all forms of businesses, the forum called for a deeper collaboration between the

Banks and FinTech, to enhance financial inclusion. Area Head, West Africa at Mastercard, Omoke Adebanjo, said that banks and the Fintechs needed to collaborate more to spark further innovation in the financial sector. According to her, tackling financial inclusions collaboratively will be a win-win situation for the bricks and mortar banks and

Fidelity Bank’s Back-To-School Train Made History in Edo It was indeed celebration galore for staff and pupils of Egwuare Primary School, Uromi in Edo State as Fidelity Bank Plc provided them with educational supplies, including computer systems, branded school bags, sandals, books and other writing materials to support learning. The Bank said its decision to embark on this initiative was borne out of the need to make life easier for students. The project tagged ‘Back to School’, was initiated and implemented by staff of Uromi Branch under the auspices of the Fidelity Helping Hands Programme (FHHP). The Bank’s intervention in

the education sector particularly its Back-To-School project has received glowing commendations from various quarters. His Royal Highness, Solomon Izuware Ojeaga, The Onogie of Ujiogba Kingdom, in his remarks commended the Bank for implementing projects that enhance the quality and standard of education in the country. “Our Back-to-School initiative has indeed touched the lives of Nigerian students across the country, particularly in the Internally Displaced Peoples (IDP) Camps in Benin, Yola and Maiduguri respectively�. Speaking at the handover ceremony, Regional Bank Head, (RBH) Midwest 1, Ovie

Mukoro, who stressed the importance of education as a veritable tool for national development, stated that the Bank is a staunch advocate of Corporate Social Responsibility (CSR). Receiving the materials, Head Teacher, Egwuare Primary School, Uromi, Philomena Okojie expressed utmost happiness at the gesture while urging other private organisation to borrow a leaf from the Bank. Okojie noted that the initiative will bring some measure of relief to parents who cannot afford to purchase necessary educational materials for their wards.

Piggybank.ng Secures $1.1m Seed Funding Emma Okonji Nigeria’s Piggybank.ng, an online and mobile app savings platform targeted at African millennials, has announced that it recently closed a deal on seed funding to the tune of $1.1 million from High Net Worth Individuals, led by the Founder of LeadPath Nigeria, Olumide Soyombo, and with participation from International and Pan-African investors Village Capital and Ventures Platform. The company said that it will deploy the investment for license acquisition and product development. Piggybank. ng has recorded 20 - 35 per cent month-on-month growth in user traction over the past 12 months; primarily from peerto-peer recommendations, its referral program - Piggybank Stories, and grass-roots social media campaigns. The startup will also invest in additional marketing spend, to accelerate its growth trajectory. Having completed accelerator programmes with Blackbox, the CcHub’s Pitch Drive, powered by Google for Entrepreneurs, and Google Launchpad Africa, Piggybank.ng has built a savings community of over 53,000 registered users of which approximately 60 per cent are Nigerian millennials, who have saved in excess of $5 million, with a savings growth of 3000 per cent between 2016 and 2017. Founded in 2016 by Somto

Ifezue, Odunayo Eweniyi and Joshua Chibueze, graduates of Covenant University, Nigeria, Piggybank.ng is positioned to fill a void for tens of millions of Nigerians, who have no access to credit, in a country where up to two years’ rent is often required upfront to secure a home. Targeting low-middle income savers in Nigeria, which has a population of 26.5 million, with a market size of $2.2 billion, the FinTech start-up is an automated savings platform where savers manage their finances by depositing small amounts of money, beginning from $1/day on a daily, weekly or monthly basis, depending on their saving target, free of charge. Savers can expect to earn on average 6 per cent per annum on automated savings or 10.95 per cent per annum on the fixed deposit product, Safelock and can withdraw funds once per quarter. Piggybank.ng generates its revenues through asset management, which currently stands at between 5 - 7 per cent. Co-founder and COO of Piggybank.ng, Odunayo Eweniyi, said: “In a country such as Nigeria, almost everything has to be paid in advance. The majority of Nigerians struggle to save their income, manage cash flow and build credit, which is a huge problem as around 80 per cent of Nigerians need to save a minimum of 40% of their monthly income, in order to survive. This is the

sheer scale of the challenge we are embracing; to actively promote a savings culture in Nigeria and act as the savings infrastructure to millions of people who want a safe, transparent and innovative platform to assist them in managing their finances, on their journeys to financial freedom.� Co-founder and Chief Marketing Officer of Piggybank, Joshua Chibueze, said: “Today’s announcement allows us to expand and capitalise on the many opportunities that the market presents us with. Our growth so far has been stimulated almost entirely by peer-to-peer advocacy and our investment in the highest quality customer service, so we know the market is there, and the product has been built, modified, tested and ratified by users. With this fundraise, we can invest significantly in our people and products, as we build a digital financial warehouse accessible to millions of Africans whose savings woes we want to put firmly behind them.� According to Soyombo, “Piggybank.ng is a leading example of how Africans are innovating to solve African problems. The team is applying technology and innovation to solve a problem facing millions of Nigerians; how can they accrue enough money to make down-payments on so many ‘life events’, in a market where there’s little to no access to credit.

the FinTechs operators hence they pursue a common goal. The conference, which was organised by Techpremier Media Limited, publishers of Techpoint.ng, attracted over 5000 participants from different parts of Nigeria, and other Africa countries. In her presentation, the Divisional Head, Transactional Banking at First City Monument Bank (FCMB), Rolayo Akhigbe, said although technology has changed the way people live, learn, communicate and execute assignments, however, improved education and awareness will further drive innovations in the ecosystem. Akhigbe said as people spend more time and money online, which has shifted business emphasis to digital sources of revenue and digital channels, the financial industry still requires startups to innovate on tackling issues around financial inclusion. Narrowing it down to the conference theme: “The Future is Now�, Akhigbe maintained that the startups themselves must understand the key elements to build businesses that stand the test of time.

Senior Fellow and Director, Centre for Leadership in Journalism, SMC, PanAtlantic University, Dr. Richard Ikiebe, said: “One thing this conference has reminded us is that Nigeria is a country of very young people. Young people are known for creativity which connects with the theme of the conference. This also brings us to the issue around education. It is very paramount in everything we are talking about today, whether formal or informal. The lady (Cynthia) who is teaching mathematics in local language is an inspiration, because no nation survives or develops without education. “So, Techpoint Inspired is such a wonderful platform to expose young people to the dynamics of modern economy, which is part of the education we are talking about. “Also, the government needs to play critical attention to some raised by speakers. For instance, it is unfortunate that about 60 per cent of the Nigerian population is financially excluded. To address this requires.�

He advised young people to be specialists in the technology world and put their minds to work; seek knowledge, display passion and master the niche they have carved for yourself. Though knowledge is limited, but you have opportunity to reinvent them, Ikiebe charged the participants. Founder of Techpoint.ng and convener of the event, Adewale Yusuf, said the platform was borne out of the need to explore the tech-trends that will shape the economy’s future in the years ahead. “Unemployment is skyrocketing, therefore, as a people we need to pay attention to the right solutions. That’s why this event was conveyed to trigger interests to topics around robotics, machine learning, robotics, etc. It is not like there are no jobs but the skills are few. To make matter worse, the few skilled ones are been poached by international companies. So, we need to address these issues. That is the essence of Techpoint Inspired�, Adewale said. General Manager of MDXi, a subsidiary of MainOne West Africa, Gbenga Adegbiji, said:

28

T H I S D AY Ëž Ëœ Í´Ëœ Í°ÍŽÍŻÍś

Lawal: Nigeria Can Become the Fintech Hub of Africa The Divisional Chief Executive of Payments Processing, Interswitch Limited, Mr. Akeem Lawal, in this interview noted that with the right vision, Nigeria could become the Fintech hub of the continent. Nume Ekeghe presents the excerpt: What are the recent innovations and products that had been introduced by your ďŹ rm? One of my core values as an individual is to solve problems using technology; specifically to use technology in innovative ways to solve problems. And I think that is what I have done throughout my career and in all of my roles at Interswitch. So, if you are talking about innovation, Interswitch as a company is innovative because we are looking for new ways to solve problems that exists. One of the projects I am working on right now which we launched in the middle of last year was an attempt to solve the problem of lending to under-served customers in Nigeria. Lending to the under-served has always been a problem because if you are self-employed, a small business owner, or a low salary earner and you needed to borrow money in Nigeria, it is alwaysdifficult or impossible. You are left to borrow from friends and families and informal lenders which could be embarrassing as well. We decided to solve that problem by leveraging on the capabilities that Interswitch has and the capabilities the industry has developed over the last few years. So, we built the Interswitch lending platform to provide a solution for any individual who has an electronic footprint in Nigeria to be able to borrow monies from as low as N1,000, to as high as N100,000 instantly. The platform leverages on data on the customers and it uses it to decide if the customer is credit worthy or not, as well as decide their capacity to borrow and their willingness to repay. How has the reception been since your ďŹ rm launched this programme? We launched about 11 months ago and it has been extremely successful. In April, we disbursed more than 60,000 loans worth over N600 million with an average loan amount of about N9,600. The repayment is also excellent and the default rate is extremely low compared to the default rates of banks’ non-performing loans (NPLs). The feedback that we have from customers that have borrowed has been extremely positive. We have feedback from people using it to cover hospital bills for family members, working capital for their businesses, meeting urgent family commitments. And they pay back. Is this platform just secluded to Lagos? No, it is nationwide. Our lending service is available to customers using many channels. Right now, we have customers who can dial USSD string and access the loan, also they can access through mobile banking, and it is going live on quickteller this month. And as we roll out, you would also see them on ATMs with the option to select if you need to get a loan. Are there any plans to expand in Africa? The inter in Interswitch also means international, inter-operable, interconnected. So, from day one, we have always planned to be international. Our focus is Africa and my personal vision is to build a payment network that connects Africa. A payment network that supports trade and a platform for payments that would help individuals, communities and businesses to prosper by being able to do payments, do businesses and trade with one another across the continent. We still have a challenge with doing payments across the continent. Why do transactions between Nigeria and Ghana have to go international first? I know there are a lot of challenges in terms of regulation and political restrictions but despite that, Africans have found a way to trade and one of the big problems they continue to experience is payment. Fix that and we will be able to boost trade. So, at Interswitch, one of our big

Lawal

focuses is to try and address that problem. Is there a timeline to solve that problem? It is an on-going process. As you might be aware, Interswitch is present in a few countries across the continent already. We have operations in Kenya, Uganda and Gambia. We have customers that we are supporting in 22 countries across the continent already. And we are already beginning to facilitate cross border payments through Verve international - the domestic card scheme that is operating not only in Nigeria but is being issued in eight

We still have a challenge with doing payments across the continent. Why do transactions between Nigeria and Ghana have to go international ďŹ rst? I know there are a lot of challenges in terms of regulation and political restrictions but despite that, Africans have found a way to trade and one of the big problems they continue to experience is payment.

countries across the continent. People, who carry this card, are able to go from here to Ghana or Kenya and our other countries using their Verve Cards. So, it is an on-going journey and our vision is to eventually make that a Pan African initiative and cover the entire continent. How would you access payment solutions in Nigeria compared to the rest of the world? Nigeria has done extremely well if you compare to where we were 15 years ago to where we are in now. Not only have we covered the gap in terms of not being able to provide electronic payment solutions to the average consumer or user. And by user I’m talking about not only individuals but also businesses and government. The adoption of electronic payments has gone hand in hand with the innovation and the technology that has been built to support it. And Interswitch has been at the forefront of this. I think it is probably interesting that some of the things we are doing in Nigeria like instant payment is what the United States of America is just pushing out as faster payments whereas we have been doing that for 9 years. So, in many areas in terms of payment technology, we have gone ahead of the curve but in a few areas, we are still behind. So, there is a lot of room to improve but I think by far the biggest room for improvement is in terms of penetration. Getting this to more people, not only in Nigeria but across the continent. We are providing payments services today to more than 40 million customers in

Nigeria in terms of being able to do either payments with a card, mobile banking, USSD and so on. But what we have not been able to do is access the remaining 80 per cent of the population, many of who are unbanked, who also require payment services. Many of the players in the industry today are basically competing for that 20 percent of the population that are currently banked and a few players have started looking at the unbanked and the under banked but there is still a lot of work to be done there. Talking about the percentage of the un-banked population, what do think can be done to bridge this gap? I want to point out four things that are required to bridge the gap and topmost on that list is the identity problem. A lot of the technology that has been built today to support payment systems requires some level of identity and that identity is managed by bank accounts or BVN. When you start trying to apply that to consumers who do not have BVN or bank accounts then you have a problem because the technology is not designed to work where the KYC requirements don’t match what is currently available in the bank. Now do we have an identity database that covers the over 180 million Nigerians, the answer is no. Strangely, the largest identity base that exits today is SIM registration and the SIM registration database is inadequate for payments today. So, the first problem to solve is how we can identify the unbanked Continued on page 29

T H I S D AY Ëž Ëœ Í´Ëœ Í°ÍŽÍŻÍś

29

LAWAL: NIGERIA CAN BECOME THE FINTECH HUB OF AFRICA customers in a way we can use the technology that exists to address them. So, once you solve the identity problem, you solve a large chunk of what is preventing the growth of financial inclusion. The second is the economics. The Indian story of financial inclusion was solved by the ‘Prahalad’ ideology which basically says there is a fortune at the bottom of the pyramid, but the way to find that is to develop business modules that work for the bottom of the pyramid. In Nigeria, we don’t have that flexibility. Designing business models that work for the bottom of the pyramid cannot be done by trying to use business models for the banked to support the unbanked. That would not really work. So, having the flexibility to develop business models that allow organisations offer services at the bottom of the pyramid would be crucial to solving that problem as well. Government and the regulators can do a lot to create the flexibility and even stimulate the segment. But ultimately, I think it is private enterprise that would be able to reach the unbanked Nigerians. But to do that they have to be profitable to do it. One of the things that used to be a challenge, but I guess is no longer a challenge now, is technology and communications infrastructure. Telecoms have covered quite a large part of the country because you can almost reach anyone now through a mobile phone. Technology that can be built on the existing telecommunication infrastructure to support payment and financial inclusion already exists. We have payment solutions that are built on USSD and other mobile technology today which is accessible to anyone who has a mobile phone. We also have agent network infrastructures being built to allow people face to face interactions to support unbanked and under banked customers. However, it is still grossly inadequate and must be increased. Interswitch for example has a financial inclusion business that has been rolled out in just about a year and a half now, with 15,000 agents across 36 states of the country. But this is still grossly inadequate. We need to get to 500,000 agents before we can get the type of impact that you

no one knows, and we don’t spend enough time telling their stories. Telling those stories would allow them to attract the investment that they need to scale, grow and improve. And indeed, also encourage others to build new innovative solutions that can solve the many problems that we have. We can start by crafting a vision for Fintech in Nigeria. A vision that dreams how we can make Nigeria the Fintech hub for the continent and how we can make sure Nigeria attracts the most investments from Fintech investors globally and how do we develop a local investor community in Nigeria. A vision that should guide us to develop the scale and competence of the human talent that exists and how we can support that talent to scale with the right infrastructural policies that would help them grow and expand to the rest of the continent. We need to look at these things and consider and develop them as the building block for a Fintech vision for Nigeria. The other countries around the world that have succeeded in technology did not happen by accident, whether it is the US Silicon Valley or Israel. They did it deliberately. So, it is absolutely critical to develop a Fintech vision for Nigeria. Lawal

need to have nationwide. So, the technology is there and businesses that are willing to do it are there. I think there needs to be an explosion in the scale. So whatever kind of stimulus that might be required to allow people like InterswitchFinancial Inclusion ServicesLimited (IFIS) and others in that space to scale would be extremely useful. I think those are the key things to get the financial inclusion problem solved. Earlier you talked about successes in the Fintech space, are we going in the right direction or should there be a Fintech vision for Nigeria? We need to first recognise that we have done

quite a lot. One of the few things we don’t do well as Nigerians and Africans nowadays is that we don’t tell our stories. In Nigeria today, we have Fintech companies using USSD to do lending and are able to make lending decisions in seconds and can credit customers account inthree minutes. We have Fintech companies providing customers with the ability to create online businesses and attached payment to it and they can do that in 30 minutes or less. We also have companies who are providing solutions using a microfinance model to serve customers at the bottom of the pyramid and are solving problems in that area with savings, loans, collections and payments. We have Fintech companies doing amazing things, but

Going forward, what should we expect from your ďŹ rm? More innovation, we are constantly looking at what innovative things we can do to solve real problems. We are constantly looking for how we can take what we have done in Nigeria to the rest of the continent so that we can solve the same kind of problems we have solved here. We are also looking for how to position Nigeria as a country from which you could build good things and export to the world. So that our story and the story of other companies like us can inspire others to build and grow to become African giants. Also expect that we would collaborate more with other Nigerian companies who are growing Pan-African as well because they share the kind of vision that we have.

T H I S D AY Ëž Ëœ Í´Ëœ Í°ÍŽÍŻÍś

30

Stock Market Enters Panic Mode After weeks of a bear run, the equities market slipped to a year-to-date decline last week, creating panic among investors. However, some market analysts were of the view that there should be no need for panic, writes Goddy Egene For three years, 2014, 2015 and 2016, the Nigerian equities market recorded a cumulative decline of 39.61 per cent. In those three years, some investors remained and endured the bear run. However, in 2017, the market turned the corner and ended with a growth of 42.3 per cent. It was hoped that the gain recorded in 2017 would be sustained in 2018. But the rate of growth witnessed in the beginning of 2018 was unprecedented as more investors saw the Nigerian market very attractive. By the end of January, the Nigerian Stock Exchange (NSE) All-Share Index had appreciated by 15.9 per cent. JustiďŹ cation for Early Market Rally Operators and analysts had attributed the early year market rally to the activities of bargain hunters, who were still swayed by positive developments in 2017 and were taking position ahead of positive results from companies for the year ended December 31, 2017. Analysts at Meristem Securities Limited, said positive sentiments dominated the Nigerian equities market in 2017 as investor confidence was restored following release of impressive financial scorecards, alongside developments such as the increase of Nigeria’s weighting in Morgan Stanley Capital International (MSCI) Frontier Market Indexes and the introduction of the Investors’ and Exporters’ (I&E) FX window in April which increased the participation of investors in the equities market. Similarly, analysts at FSDH Merchant Bank said: “The performance of market in 2017 was driven by: the increase in the price of crude oil; introduction of the Investors’ and Exporters’ (I &E) foreign exchange window leading to stability in the foreign exchange market; improved corporate earnings and the drop in the yields on the Nigerian Treasury Bills (NTBs).â€? They had, therefore projected that the factors would remained attractive to investors for most part of 2018 and had therefore expected a sustained bull market. According to MSL, “Given that we expect the Nigerian economy to maintain its steady growth, we do not expect the market to deviate from its current trend, hence, we opine that this positive momentum will be sustained in 2018, albeit at a slower pace on the back of the high base effect in 2017.â€? Also, “FSDH said they expected the factors that drove the equity market in 2017 to support the market rally in 2018. “We observed a strong correlation between the historical movements in the NSE ASI and the crude oil price (Bonny Light). The current consensus is that the average price of crude oil will be marginally higher in 2018 than 2017. The inflation rate should decline further in 2018. FSDH believes the expected drop in the equity market in first quarter (Q1) 2018 is an opportunity for strategic investment in the market ahead of the expected rally in second quarter (Q2). The following sectors should perform well in 2018: Banking; Building Materials; Consumer Goods and Agriculture,â€? FSDH said. Cordros Capital Limited (CCL) another investment banking firm, was not left out in the express bullish sentiments. According to CCL, the 2018 economic outlook favour the equities market. Although the firm made a strong case for equities upside potential, it also considered the number of possible risks that could trigger a bear market. The Head, Research and Strategy, CCL, Christian Orajekwe, said the first scenario assumes that equities will return excess of 40 per cent in 2018. “We have considered five possible triggers of the rally. The probability of the triggers is low to moderate. The possible triggers, in order of importance to Nigerian equities are: significantly favourable macroeconomic and political backdrop; strong corporate earnings growth; strong portfolio inflows; mergers and acquisition (M&A) activities; and strong moderation of fixed income and treasury yields,â€? he said. The second scenario assumes about 10 per cent to 15per cent equities return in 2018. “We have considered four possible triggers

NSE oor

of the rally. The probability of the triggers is moderate to high. The possible triggers, in order of importance to Nigerian equities, are: moderate improvement in the macroeconomic environment, as widely envisaged; stable to modest corporate earnings growth; modest improvement in portfolio inflows over 2017; and marginal moderation of fixed income and treasury yields,� Orajekwe added. According to him, the last scenario assumes equities will deliver between 20per cent to 25per cent negative return in 2018. “We have considered four possible triggers of the sell-off. The probability of the triggers is very low to moderate. The possible triggers, in order of importance to Nigerian equities, are: macroeconomic and political shocks; poor corporate earnings; MSCI delists Nigeria from its emerging market index; and foreign portfolio investors flee naira assets,� he noted, adding: “Though our projections are not static and as scenarios unfold, we will continue to adjust our projections.� CCL said the downside risks to equities market return in 2018 will be more weighted in the second half (H1). This will be more pronounced in the fourth-quarter (Q4) when it is expected that most investors (particularly contestants during elections) will begin to sell down equities for election spend. The Market Slows Down While many investors and stakeholders remained upbeat after the growth in January, the market began to slow down and by the end of February, the gain had contracted to 13.3 per cent. And in first quarter (Q1) it ended with a growth of 8.53 per cent. While it was envisaged that the release of Q1 corporate results would lift the market in the months that opened the second quarter (Q2), the market maintained a downslide, further reducing the year-to-date (YTD) gain to 7.91 per cent at the end of April. And by the close trading on the last day of May, all the gains recorded in the year by the NSE All-Share Index, which is the benchmark gauge, had been eroded. Consequently, the market’s YTD’s decline stood at 0.36 per cent as at the end of May. Market analysts had linked the bearish trend to profit taking by investors in most stocks that had been overbought in the beginning of year. Besides, they said the bear run was fuelled by the exit of emerging and frontier markets. However, the Nigerian stock market is expected to remain in the bears’ territory for sometime as more investors are projected to exit due the uncertainties surrounding the upcoming elections. “The Nigerian economy responds to politics like many economies and I think anyone who knows how the affairs of the world is run will

expect this as some of the people cashing out or taking profit are preparing to fund the election as they need to raise money,� Minister of Power, Works and Housing, Mr. Babatunde Fashola said last week. No Need for Panic Button The rate at which the market is declining is sending panic to some investors but it is believed that this phase will go away. Also, the slide in prices is seen as another opportunity for more investors to enter the market instead of exiting and therefore, there is no need to press the panic button. According to the Chairman of Association of Stockbroking Houses of Nigerian (ASHON), Chief Patrick Ezeagu explained that performance of listed companies on Nigerian bourse is good but the current downswing was the effect of general lull in the economy and other exogenous factors prompting both domestic and foreign investors to convert their shares to cash. Ezeagu explained that nothing was wrong with NSE in terms of governance structure , technology and compliance with the rules and regulations by Stockbrokers. He said the quoted companies are not doing badly, given the general lull in the economy and the fact that we cannot rule out the usual fear of election, noting that these factors could elicit massive sale of shares, especially by foreign investors. Ezeagu said: “The federal government should intensify efforts in addressing insecurity problems in Nigeria and keep on reassuring of a safe investment environment. Our market is full of opportunities but we need to sustain the momentum of assuring both indigenous and foreign investors that the market is safe. The exchange is a barometer that gauges the mood of the economy. Therefore, we should address investors’ fears in order to enable them take advantage of good returns associated with our market. The current bearish trend is temporary as the market would bounced back soon.� On his part, the President of Chartered Institute of Stockbrokers (CIS), Mr. Dapo Adekoje noted that market fundamentals remained strong and attributed the bearish trend to panic sales by foreign portfolio investors who are taking advantage of emerging higher returns on mutual funds in the United States and Europe. “Current information about mutual funds in America and Europe that are giving five per cent return on investment (ROI) is attractive to foreign portfolio investors and they are offloading shares to take advantage of the investment opportunity. They are

more comfortable with the new returns on mutual funds. The good news is that we are having good valuations. Investors should buy on long-term basis and not short term,� Adekoje said. However, the stockbroker urged the government to initiate policies that would enable the pension fund administrations (PFA ) to increase their investment in the market. NSE’ Strategic Plan to Sustain Growth The Chief Executive Officer of the NSE, Mr. Oscar Onyema had already assured that having recovered from the three-year decline and recorded a major leap in 2017, strategies were being put in place to sustain the growth going forward. According to Onyema, in keeping with its object of taking a vigorous and adaptive approach to strategy execution, the NSE re-assessed its strategic agenda in light of changing dynamics in both the operating environment and the global exchange landscape against the backdrop of the fourth industrial revolution. “This culminated in a new corporate strategy for the 2018 – 2021 period. In redefining its strategic ambitions, the NSE selected three key focus areas to pursue to enhance our global competitiveness and appeal to stakeholders. They are based on: satisfying our customers; boosting our retail segment penetration and enhancing our organisational agility,� he said. In area of enhancing customer focus, he said the NSE was taking a greater focus on “delighting� its customers across the value chain. He said: “We are committed to better understanding and meeting our customers’ diverse needs by leveraging adaptive new technologies, and will be carrying out a series of activities aimed at supporting this objective. Focusing on retail investors, the exchange will increase its focus on growing retail participation as a key component of a well-functioning and resilient market. To this end, we will be partnering market stakeholders to deliver a number of financial literacy and investor outreach initiatives which align with existing plans (such as the Capital Market Master Plan and the National Financial Literacy Plan); as well as undertake new initiatives that can help drive a more radical change. At the crux of our efforts, is the establishment of a Retail Coverage Department, which will be dedicated to the development and publicity of simple, affordable and efficient investment products and services that can effectively support the Nigerian populace – at various stages of financial mobility – to create durable wealth.� He added that the exchange was restructuring to drive its new corporate strategy. “There are a number of new departments that have emerged to support our evolving strategic ambitions, which are primarily geared towards innovation, emerging technologies and retail participation. We are optimistic that the new structure will support us to better execute on our 2018- 2021 Strategic Plan, enhance organisational dynamics and achieve new efficiencies as we demutualise,� Onyema said.

31

T H I S D AY Ëž Ëœ Í´Ëœ Í°ÍŽÍŻÍś

Zenith Insurance Records N12.5bn Gross Premium, Pays N6.7bn Claims Stories by Ebere Nwoji Zenith Insurance has recorded a gross premium written of N12.5billion, an increase of 12 percent from the N11.116 billion recorded in the previous year. The company also recorded a gross premium income of N12.806 billion in 2017, up from N11.187 billion in 2016, while net premium income stood at N8.090 billion compared with N7.446 billion in 2016. Similarly, fees and commission income rose by 37 per cent from

N907 million in 2016 to N1.245 billion in 2017. Also, the company’s financial statements, which were approved by the National Insurance Commission (NAICOM) on the 20th of April 2018, showed healthy net assets of N23 billion, one of the highest in the Nigerian Insurance Industry. The company has a solvency ratio of 634 per cent in 2017, meaning that it is able to cover its minimum regulatory solvency requirement six times over. The results showed that net

underwriting income also rose from N8.354 billion in 2016 to N9.336 billion while the profit before tax dropped to N4.750 billion from N5.927 billion in

2016 owing to the high claims, increase in management expenses and high taxation expenses. However, the company’s stellar performance shone through

with a return on equity of 15.5 per cent despite the strong economic headwinds in 2017. The company’s claims paid out in 2017 stood at N6.7 billion,

representing an increase of 36 per cent from the N4.7 billion paid out in 2016 and a total claims ratio of 58 per cent in 2017.

Insurance Industry to Launch Revised Edition of Code of Ethics The insurance industry is to launch a revised edition of its code of ethics for insurance practitioners in Nigeria. Launching of the industry’s ethical code which will take place in July, will enable insurance practitioners discharge their professional duties with high ethical disposition in order to rebuild and sustain the trust and confidence of the profession and industry ‘s stake holders. President of the Chartered Insurance Institute of Nigeria(CIIN) , Funmi Babing-Ashaye, who disclosed this at a press briefing to present her 10 months stewardship score card to the media, said the institute has set up a committee to review the industry’s code of ethics such that its provisions are up to date and in tandem with best practices. On the extent of work done by the committee, Ashaye said: “I am delighted to report that the revised edition of the Code of Ethics for Insurance Practitioners in Nigeria will be launched during the National Insurance Conference which will be held from 8th – 10th July 2018 in Abuja. This Code, which applies to all Insurance Practitioners, clearly define how they should deal with issues and their responsibilities to clients, the general public, government,

regulators, the Institute and their professional colleagues.� The CIIN president said her administration in the institute has to a large extent enhanced insurance awareness in Nigeria. She said: “As part of the strategy to inform and engage members about the happenings in the insurance industry and economy as a whole, the Council under my leadership, commenced the publication of a monthly e-newsletter. Since the publication of the inaugural edition in September 2017, The Council has continued, without fail, to publish and circulate it to disseminate information to members on major institute and industry events. So far, the Institute has published ten editions of the e-newsletter. She further added: “As part of the ongoing efforts by the Institute to create insurance awareness amongst the youths, council approved three years ago, the distribution of the Institute’s sponsored insurance text books for Senior Secondary Schools to schools.� She also noted that under her presidency, a youth empowerment programme tagged, “Catch them Young for Youth Corps members� was initiated in Lagos in December, 2017 in which over 700 Youth Corps members, at the Iyana-Ipaja Camp, registered and participated.

Leadway Assurance Pays N27.4bn Claims, Grows Premium by 57% Leadway Assurance Ltd, said it paid a total of N27.4 billion claims in 2017, showing an increase of 18.95per cent from the N23 billion paid by the company in 2016. Disclosing this at its 46th annual general meeting held in Lagos recently, Leadway Assurance said as the largest insurer with balance sheet size of N272billion, it has continued to position itself to provide the best in class financial security to its varied customers from individuals to corporates to large commercial entities. The company said its Gross Premium Income during the period increased by 57%, to N84.48 billion within the period under review. Addressing Shareholders at the meeting, the Company’s chairman, Gen. Martin Luther

Agwai, said: “While the impact of the recovery of the economy remains mixed, we are optimistic that recovery from recession will continue as we navigate the issues and challenges that 2018 may bring. On our part, we are encouraged to leverage on our brand and strategic initiatives to increase insurance awareness, create risk products tailored to every segment of consumer needs delivering “happiness�, to rejuvenate insurance as a necessity.� “We are improving our value proposition to our customers and committed to progressively eliminate waste of time spent on processes and alternatively focus on anticipated and appreciated value add to our customers to deliver unbeatable service delivery,� he further added.

STOCK TAKING

L-R: Partner/Representative of the Company Secretary, CRC Credit Bureau Limited, Mr. Olumide Osundolire, Chairman, Dr. Greg Jobome; and Managing Director/CEO, Mr.Tunde Popoola, during the company’s annual general meeting held in Lagos ... recently

FG Urged to Pay Outstanding Pension Right to Boost Retirees Benefits Pension Fund Administrators and the National Pension Commission (PenCom) have expressed optimism that expeditious release of the N97.55 billion accrued Pension Rights owed by the federal government from May 2017 to April 2018 will enhance payment of retirement benefits to pensioners. This is as modalities have been put in place for the take - off of the much awaited micro pension scheme. The PenCom said at a recent media retreat in Uyo, Akwa Ibom State that pensioners will begin to receive their entitlements as soon the money is released. “The outstanding accrued rights of federal government employees who retired in 2017 as well as the amount due to

those retiring in 2018, have been submitted to the federal government for appropriation in the 2018 budget�, PenCom said. At a press briefing in Lagos, Monday, the Managing Director Stanbic IBTC Pensions, Eric Fajemision, said that the release of the outstanding accrued rights of pensioners by federal government will enhance the quantum of benefits paid out to pensioners. He said the PFAs are hopeful that the funds will soon be released by the government. PenCom had noted that based on the positive disposition of the federal government towards settling outstanding pension liabilities, as evidenced by the release of N54 billion in April 2017, it is expected that these liabilities will soon

be paid off. “The Commission served as a member of an Inter-Ministerial Committee, Chaired by the Minister of Finance that was set up by Mr. President to determine the total pension liabilities of the federal government under both the CPS and the Defined Benefits Scheme, and advise the government on the amount required to be provided in the budget to defray the pension obligation. “The Commission has determined the total pension liability owed to the Contributory Pension retirees due to both the 15 per cent and 33 per cent pension increases of 2007 and 2014 respectively�, said the Director General PenCom, Mrs. Aisha Dahiru -Umar. She stressed the commission’s commitment

towards ensuring that retirees enjoy their retirement, further adding that this was the reason for the implementation of the pension enhancement, which is one of the significant milestones attained since the commencement of the CPS. The pension regulator said the implementation confirms that the Contributory Pension Scheme (CPS) has workable internal mechanisms to respond to legitimate demands of retirees as they seek a reasonable retirement income, stressing that it intends to sustain this periodic review exercise in line with relevant provisions of the law. Speaking on micro Pension take off, Fajemisin, said the micro pension scheme targeted at the informal sector will soon take off.

CHI Pays 2 Kobo Dividend to Shareholders Consolidated Hallmark Insurance (CHI) Plc, at its 2017 annual General Meeting held in Lagos recently, approved 2 kobo dividend per share for shareholders. This represents a total of N140million dividend payout to shareholders, for the 2017 business year. The company’s Chairman, Obinna Ekezie, at the meeting, sought the approval, which was granted by the shareholders. Ekezie, said the firm believes shareholders deserve all the reward they can get through regular dividend payments and more for their continued faith and firm belief in the company, stressing that the dividend was payable to shareholders whose names appear in the register,

, “We shall continue to live up this expectation as we have done severally, in the past.� He expressed optimism about the future of the company, pointing out that the successful completion of the final phase of the capital it raised, full deployment of funds realised and the eventual emergence of the company as one of the top players in the financial service sector, will benefit its esteemed shareholders in the long run. Also speaking, Managing Director/CEO of the underwriting firm, Eddie Efekoha, said the company has continued to fulfil its obligations through prompt claims settlement as gross claims amount paid out

in its 2017 financial year was N3.354 billion. The total assets of the firm, during the period stood at N9.49 billion, up from N7.44 billion it was in 2016, representing 27 per cent growth. He stated that CHI also posted a profit after tax of N406.2 million as against N194.9 million posted in its 2016 Financial Year, adding that its Profit Before Tax grew by 74 per cent from N368.1 million in 2016 to N641 million in 2017. According to him, Gross Premium Written reported for the period, was N5.6 billion, while a Net Underwriting Income of N4 billion was recorded. He also said that the company made appreciable progress in

investment activities as well as its Investment Income which grew from N472.3 million to N796.2 million in 2017, he promised the shareholders to expect more returns in the nearest future from the insurance firm even as recent capacity expansion and growth initiatives in the underwriting firm will help to grow its revenue. The Publicity Secretary, Independent Shareholders Association of Nigeria (ISAN) Igbrude Moses, lauded the firm for its performance and dividend payout and urged the board and management to tap the enormous opportunities in the country to enable the firm give enhanced dividend in the future.

T H I S D AY Ëž Ëœ Í´Ëœ Í°ÍŽÍŻÍś

32

EDUCATION Babcock’s Best Graduand: I almost Dropped Out due to Financial Difficulties Success they say is sweet, yet the root to it oftentimes is dark and thorny. However, focus, determination and divine providence have over time proven to be the key to unlocking the hidden treasures man desires and cherishes. The story of the 2018 best graduating student of Babcock University is one that depicts that failure is not total, neither obstacles a dead end to one’s dream, rather a route to a better and brighter future. Peace Obi reports Babcock University in its 16th undergraduate and seventh postgraduate convocation ceremony recently released a total of 2,269 future creators of a new world. Among them are 91 graduands that stood out as they were awarded first class in recognition of their academic excellence in their respective courses. Yet, in the pool of the university’s ‘bests’ for 2018, stood a distinguished fellow, who in addition to his excellent performance, satisfied the university’s other criteria to emerge the best graduating student for the 2018 set. Quoting a popular philosopher, the best graduating student, Mr. Michael Adedotun said success is not final nor failure total, but the courage to continue. Sharing his experience with some journalists after receiving his award and the accompanying prizes - President’s and the Senior Vice-President’s prizes, Adedotun who was visibly overwhelmed with joy, attributed his success to God’s grace, his family and fiancĂŠe’s support. The student of Christian Religious Studies, who along his academic workload, pastors a church in town, said the journey to victory was not an easy one and that it became so tough that at a point paying school fees seemed impossible. However, he said through divine providence, the phase eventually passed without truncating his dream. “It wasn’t an easy road. There were ups and downs. There was a particular time when it looked like I was going to drop out of school because paying school fees seemed impossible. But one way or the other, God came through for me. “Another is that while on campus, I also got involved in extracurricular activities and religious activities. I had to carry the responsibility of being the president of my departmental club and I was also pastoring a church, a Seventh Day Adventist Church in town. So, combining all these things was not easy but at the end of that semester when I saw my result, my GPA 5.0. I was convinced that of a truth if one actually works for God, He finds a way to compensate. On his future plans, the 28-year-old indigene of Ogun State said he would like to further his education and go as far as he could, but he would want to settle down with his fiancĂŠe as soon as possible. More importantly, he said he wants to go back to the service of God, which is the source of his success. Asked how he managed to remain focused on his goal of becoming the best graduating student of his set, Adedotun said he had his priority set, as well as his activities organised. He said his fiancĂŠe graduated two years ago from the same university, though they were in a relationship while she was in school, but it never was a source of distraction to him, rather it was a source of encouragement. “While on campus, I was in a relationship and she is an alumnus of the university. She graduated two years ago. The relationship never posed any form of distraction rather it was a huge boost and encouragement for me. She was very understanding and knows when to give me space.â€? While calling on people that may be facing one challenge or the other in their endeavours to remain focused, he said: “Your present situation should not define you. It may look scary and it may look like an end of the road, don’t let that stop you; look beyond that moment because that is how the devil works. It will make you see the enormity of the present situation, but there is a plan; you are in the plan of God.â€? In his remarks, the President/Vice-Chancellor,

R-L: Ekiti State Governor, Ayodele Fayose; Ogun State Chief of Sta, Mr. Tolu Odebiyi; the best graduating student, Mr. Agbojo Adedotun; and the Vice-Chancellor, Babcock University, Ogun State Prof. Ademola Tayo, during the 16th undergraduate and seventh postgraduate convocation ceremony of the institution‌ recently Prof. Adeola Tayo, said the faith-based institution is committed to building a future for the youths through a holistic education. He said quality manpower resource remains the bedrock of sustainable development and that the institution through its nine schools and one college of postgraduate studies has continued to build leaders with the wherewithal to transform lives and positively impact the society through its quality teaching and research. Highlighting the university’s achievements in the year under review, the VC said all the 19 academic programmes that were examined for quality in content, material and availability of human resource received approval by the National Universities Commission (NUC) approval and commendation. He said the institution also received programme and institutional accreditation from the International Board for Education for another five years, adding that the collaboration between Babcock University Teaching Hospital Cardio-vascular Centre and Tri-State Associates has led to over 100 successful open heart surgeries performed on its campus. On the institution’s academic recognitions and awards, Tayo said “for the third time back to back, Babcock University Law graduates put up a brilliant performance at the Nigerian Bar Examination of the Nigerian Law School. “Uju Ude and Abimifoluwa Ajala were among the 29 students nationwide that made first class at the Law School in 2017. This has placed the university at the top of about 50 tertiary institutions offering law in Nigeria. Babcock University had emerged first, back to back for 2015 and 2016. The performance gives credence to the quality of training we offer.â€? As part of its commitment to support the federal government’s efforts in promoting agriculture and food security, the VC said: “Babcock University is offering 30 per cent tuition discount to all new intakes into the various departments of agriculture programmes

with effect from 2018. This is expected to attract more young people into studying and practicing agriculture.� To the graduands, Tayo said the institution has fortified them with the power to create new future and urged them to become the architects of the future. “We are letting you into the world to make a difference; to make your parents proud, to make Babcock University proud, to make Nigeria proud, and make Christ proud. The world and its internal workings as we have today are facilitated by connected thoughts of individuals who are hungry to make it a better place for all. You can become creators of the future. Indeed, you are creators of the future.� Also speaking, the President, Loma Linda University Hospital, California, Dr. Richard Hart, urged the graduands to strive for wisdom, discuss great things and to live impactful and meaningful lives. According him, it comes from a deep insight and gives one satisfaction for what he/she does. He said the best is achievable in life if only the graduands would heed to the seven tips to avoid living a bad life, which he enumerated as wealth without work; pleasure without conscience; commerce without morality; knowledge without character; science without humanity; worship without sacrifice, and politics without principles. He encouraged the graduands to desist from such life style, saying that it is inimical to the best interest of the society. The Ogun State Governor, Ibikunle Amosun advised the graduands to see their convocation as a clarion call to serve humanity. He urged them to be self-reliant, stressing that the attitude of over-reliance on white collar jobs should not be the only option. The governor, who was represented by his Chief of Staff, Mr. Tolu Odebiyi said “today’s event is not only about recognising an important accomplishment, but also, it is a gateway to an important stage in your life. A stage of a new beginning, a new chapter,

a new endeavour alongside new challenges; this is not the end of a tough journey, it is the beginning of a beautiful one.� The governor commended the university saying, “the contribution of this citadel of learning to the education development of our dear state is highly appreciated, despite the fact that it is privately-owned. In addition to its academic mandate, the university being a faith-based institution is applauded for propagating good morals and positive virtues without which academic achievements would be worthless. Through this, you have made this university a force to be reckoned with in excellent academic and moral achievement.� The Executive Secretary, of the NUC, Prof. Abubakar Rasheed commended the institution for its various achievements, saying that it would not have been possible without the capable personnel it has in its system. “I will like to thank the faculties and the administrators of this great university for a job well done. Without these capable personnel, the extra-ordinary performance enumerated here by the vice-chancellor would not have been. So, the NUC appreciates your labour. The future is indeed bright for both Babcock University and her products.� He congratulated the parents and charged the graduands to go and bring the country greater distinctions and laurels. “It is not possible to undergo academic pursuit without the support from parents, family and friends. So, proud parents, I like to say well done, thank you for your sacrifices and commitment. You have been partners in progress in nation building.� To the students, he said “surely, today’s joy wipes away the tenor of scholarship and I bet you academic work is laborious, it calls for discipline. Go forth and impact Nigeria positively and bring the country greater distinction globally. Earning degree at any level has meaning only when it impacts humanity.�

T H I S D AY Ëž Ëœ Í´Ëœ Í°ÍŽÍŻÍś

33

EDUCATION

Pamo Varsity of Medical Sciences Starts with 123 Students Ernest Chinwo in Port Harcourt Nigeria’s first and privatelyowned university of medical sciences, Pamo University of Medical Sciences (PUMS) formally kicked off last weekend with the matriculation of 123 students. This came as Rivers State Governor, Nyesom Wike said the state has fulfilled its promise of sponsoring 500 students in the next five years, adding that the first set of 100 students are already studying in the institution. While congratulating the new students, he advised beneficiaries of the state government’s scholarship to put in their best so as to contribute to the development of the state in future. Performing the maiden matriculation ceremony in Port Harcourt, the Vice-Chancellor, Prof. Michael Diejomaoh said the students were across three foundation faculties- Basic Medical Sciences, Clinical Sciences and Allied Health Sciences. To the students Diejomaoh said: “As you begin this journey to build your professional career in PUMS, I wish to remind you of the great opportunities available to you which are not the same in some other universities in Nigeria today. Paramount among them is uninterrupted academic activities with high standard teaching facilities, modern teaching techniques, comfortable lecture halls, quality laboratories, well equipped libraries and most of all, the best available manpower in

your chosen fields, carefully assembled to impart quality education to you in a well thought-out learning environment.� He said research had shown a dearth of medical manpower at all levels when compared to the requirement of a bloated population. “The ratio of qualified medical manpower to the Nigerian population is appalling and falls well below the WHO standards and those of the developed and many developing countries. In a nutshell, the ratio of professional medical personnel today is gravely disproportionate to our teeming population and has remained a source of concern.� Other challenges he identified include incessant strikes in the health sector, poor financing of the sector resulting in poor facilities, poor remuneration of medical staff in the midst of medical crises which include HIV epidemic, drug abuse, juvenile delinquencies. These, he said have created a gap in the country’s health system and increased the need for more medical manpower. He said the students are therefore being trained to help improve the population of available medical manpower and reduce the wide gap between the population and the manpower at the disposal of the nation. “At PUMS, we don’t tell students what to think. Instead, our teaching is designed to produce intellectual self-reliance to teach you how to learn and how to take charge of your thinking.�

Osarenren, Others Suggest How to Attract the Best to Teach, as MTOY Kicks off As this year’s Maltina Teacher of the Year contest commences, stakeholders in the education sector have suggested ways to attract the best to the teaching profession. The Maltina Teacher of the Year, an initiative of the Nigerian Breweries Plc - Felix Ohiwerei Education Trust Fund, was established in 2015 to identify, showcase and reward outstanding teachers in the country. In her keynote address, the Head, Department of Educational Foundation, University of Lagos, Professor Ngozi Osarenren described teachers as invaluable drivers of societal norms, saying that the teaching profession must be respected to attract the best and the brightest. Osarenren, a former Commissioner for Education in Edo State, said if Nigeria must be saved from the menace of unqualified and incompetent teachers, it must find careeroriented teachers that want to do the job for their passion and not because it is the last option available. Other factors that could attract the best to the profession she said include professionalisation of teaching, reasonable and guaranteed salary, job security and competitive entry require-

ments for would-be teachers. In his remarks, the Managing Director, Nigerian Breweries Plc, Mr Jordi Borrut Bel said in 2015, the trust fund expanded its intervention in education to teachers through the Maltina Teacher of the Year initiative. Borrut Bel, who was represented by the Corporate Affairs Adviser, Mr. Kufre Ekanem, said the initiative was hinged on the realisation that teachers seldom get the recognition they deserve in spite of the pivotal role they play in determining the quality of education. He said so far, the initiative has produced 69 state champions and three overall winners, adding that entries opened on May 25 and will close on July 2, 2018. Interested teachers are advised to download application forms from the Maltina website, www.maltina-nigeria. com. The forms should be completed and uploaded to the website or sent by email to maltinateacheroftheyear@ heineken.com or post to P.M.B. 12632, Marina, Lagos. Borrut Bel added that the winner will get N1 million, a trophy and another N1 million every year for the next five years, and a block of classrooms built at the school where he or she teaches.

UNILORIN ASUU Commends FG for Paying N754m Earned Allowance Hammed Shittu in Ilorin The Chairman, University of Ilorin (UNILORIN) chapter of the Academic Staff Union of Universities (ASUU), Dr. Abdulraheem Usman has commended the federal government for the recent payment of N754 million earned allowance to lecturers of the institution earlier denied the university. The federal government early this year began the payment of earned allowance calculated as extra teaching of students to lecturers of the country’s universities except UNILORIN. Also, the national leadership of ASUU had fought for the

exclusion of UNILORIN from the payment because it had severed itself from the national body for about two decades and therefore was not part of the struggle. The development prompted the leadership of the institution’s chapter of the union to swing into action, calling on the federal government to extend the payment to lecturers of the university, which eventually materialised. Briefing journalists recently, Usman said the ‘earned allowance’ has been paid to lecturers in the university, adding that all the lecturers presently on the campus with the exclusion of those on leave, retired or

late have been paid. “We paid everyone including those who are among us but are against us. So, all members of ASUU not on leave have been paid. For those who are late, we have asked the registry to reconcile the proper account so that we can pay the family. “We have also asked those, who have resigned to come with their papers, they would be paid. Everyone captured within the year 2009-2012 that the money was meant for will be paid.� The ASUU chairman stated that the union did not beg anyone before the money was paid, as it is members’ right because they worked for it.

“It was not strike allowance, but earned allowance. So, we deserved it more than any other member because we didn’t go on strike and that was why we didn’t go to beg anyone over the payment, while the saying lasted. Though some members said we should go and beg, but we declined. We merely dissolved their ego on the altar of courage and resilience.� He lauded the understanding of the minister of education, the accountant general and other stakeholders towards the payment and called for the payment of the second tranche 2013-2017, which he admitted that no university has been paid.

L-R:The Head, Economics Department, Babcock University, Ogun State, Dr. Oladapo Awolaja; Miss Lydia Efeni and her father, Executive Director, THISDAY Newspaper, Mr. Emmanuel Efeni, during Lydia’s graduation at the university‌ recently sunday adigun

Foundation Promotes Personal Hygiene among Female Students Uchechukwu Nnaike In line with its objective of educating females on various areas that will boost their confidence and self-esteem, the Gallant Graces Foundation recently organised a forum to educate female students of Kuramo Secondary School, Victoria Island, Lagos about personal hygiene, which is vital for building self-confidence. According to the founder, Mrs. Janet Adetu, the event, with the theme ‘Living Your Dream’, was also meant to instil in the girls career talks, leadership skills, confidence skills, decorum skills, how to maintain themselves, their

families, homes, communities and the entire environment that they live in. She said the foundation is currently focussing on young girls from 10-18 years so as to catch them young and to raise a generation of youths that will impact the society positively; to increase opportunities for personal development through personal care advocacy, trainings and learning materials; as well as to engage, empower and elevate females to fulfil potential and positions of significance. To have a lasting impact on girls, she said the foundation adopted the ‘GOLD Drive’, which comprise grooming, hygiene and personal care;

opportunity, mentorship and scholarship; leadership, inspirational talks, seminars and motivational platforms; and decorum, lifestyle, interpersonal skills, etiquette, and deportment. Adetu, who stressed the importance of giving back, said all staff of her organisation are involved in the empowerment programme and that the foundation hopes to touch 2,000 girls in the next two years. She said during the one hour workshop, the students are taught leadership skills, confidence skills and interpersonal skills, as well as demonstrations on personal hygiene and a question and answer session, when they could

ask any question on any issue of concern To help the girls to start their journey of cleanliness, hygiene and personal care, she said the foundation gives out a grooming kit to each girl for body care, mouth care, hair care, hand care and clothing care. This she said serves as a guide to keep them knowledgeable enough to make the right decisions as they mature in life. “A successful woman, a successful leader is all about the confidence that she carries, and it has to do with personal hygiene, leadership skills, interpersonal skills, attitude to life and the way she communicates.

Varsity Don Stresses Policy Formulation, Implementation for Equity Funmi Ogundare A Fulbright Visiting Professor, Nnamdi Azikwe University, Awka, Anambra State, Samuel Zalanga has called on the government to implement a complementary set of factors in development policy formulation and implementation to promote equity in the management of the polity. He also stressed the need for a strong policy that would focus on agriculture and rural development targeted towards growth in the country.

Zalanga made this known while delivering the diaspora lecture titled ‘Comparative Regional Development: Lessons from South-east Asia for Africa’ at the Samuel Adegboyega University (SAU), Edo State recently. According to him, policies play an important role in economic growth in spite of inadequate institutions and structural limitations rooted in the cultural, historical and geographical realities of African countries. “Economic growth is highly

enhanced when the structure of the economy allows for small economic actors the freedom to make decisions. There has to be a synergy. For the small actors, economic freedom does not mean minimal state intervention, it means smart state intervention: credit subsidies, subsidy when market prices fall and restricting food import and export.� The Professor of Sociology, Bethel University, Minnesota, USA dismissed the notion that by merely educating people, the

country could be transformed, saying that education is not enough without moral and ethical commitment from people to move the nation forward. “There is a problem in Nigeria where we think that by merely educating the people, we can transform the country. If you look at the history of the world, it is not enough. Simply because somebody is educated, we do not know how they are going to use it. The way they are going to use their education can be shaped by their moral and ethical commitment.

T H I S D AY Ëž Ëœ Í´Ëœ Í°ÍŽÍŻÍś

34

Hope Bay College Class of 98 Exstudents ‘Return Home’

The Chief Executive Officer, Hope Bay College, Lagos, Miss Jumoke Oladapo (third left); the Principal, Mr. Joseph Okedu (second right), with beneficiaries of scholarship awarded by the 1998 set of old students

Executive council members of the 1998 set of old students with some teachers during the ex-students’ visit to the school‌ recently Uchechukwu Nnaike and Chris Asika May 24- 25, 2018 will remain memorable for staff and students of Hope Bay College (HBC), Lagos, as its 1998 set of old students returned 20 years after graduation to thank the school with cash prizes, which includes awards to teachers and three term scholarships to best students from junior secondary one (JS1) to senior secondary two (SS2). The gesture, which was part of activities marking the reunion of the set, was its way of maintaining the culture of excellence and to give back to the school that groomed the members. The event featured an interactive session with the current students, facilitated by an ex-student, Dr. Ann Ankoma, a physician with the Lagos State Primary Health Care Board, and a UN ambassador, who gave career advice, peer pressure management and health tips. Mrs. Ngozi Obi, a member of a nongovernmental organisation (NGO), Amazing Amazon Initiative which works to curb domestic violence among women and children, educated the students about the social menace of domestic violence, sexual abuse by adults, sexuality education for teenagers, etiquette; while Mr. Ebere Iwueze, an ex-student and a legal practitioner also gave the students motivational talk. Other activities included Igbo, Hausa and Yoruba cultural dance, choreography and a novelty football match between the ex-students and the current students. The scholarship recipients were the best students namely: Jack Joy, Nsoma Treasure, Ugbama fejiro and Akachukwu Nmesoma. Exceptional teachers were also rewarded during the reunion lunch with plaques and cash prizes in appreciation for the role they played in the upbringing of the ex-students. They are: Mr. Aqua (principal as at 1998); Mr. Joseph Okedu (current principal), Mrs. Margaret Nwogu, Mr. Princewill Chime, Mr. Chima Iruamaka, Mr. Boniface Amusan, Mr. Adesakan Isiaka, Rev. Kemdi Akobundu, Mr. Ayemoni J.O, Mr. Egbegbara, Mr. Uche Madu, and Mr. Afam Madumere. Other award recipients were Miss Komeh Odhe (98 ex-student) in apprecia-

tion for the formation of the HopeBay Class (HBC) of 98 reunion in 2010 and her tenacity in keeping the group alive. Another recipient, Mr. Obinna Chinedu, the CEO Lounge Thirty Eight was honoured for his contribution towards hosting HBC 98 reunion in the last decade. The Chairman of the Local Organising Committee of the HBC 98 reunion, Mr. Victor Ejike Kanu said giving back to the school that made them what they are in the society today was the main reason the members decided to return to the school that they see as their home. “We got the foundation here on how to become responsible citizens of this country and we excelled in whatever we do today because of the morals, discipline and quality education we got here in HBC. Just like most of my colleagues doing well in their various professions, I am an entrepreneur; the founder and the CEO of Woolwich Group Limited, an engineering and electrical multibillion naira group of companies employing over 100 Nigerians with branches all over the country, United kingdom and United States.� Kanu stressed the need for entrepreneurship and financial management to be integrated into schools’ curriculum to equip youths to be self-reliant and not to wait for white collar jobs after graduation, but to become employers of labour. In her remarks, the Chief Executive Officer (CEO) of the school, Miss Jumoke Oladapo (eldest daughter of the founder who took over after the death of the founder) commended the kind gesture of the 98 set and urged other sets to emulate it which is the first set of ex-students to return and give back to the school since its inception. “I was so excited when the principal told me that members of the 98 set approached him that they want to give back to their alma mater which is very commendable and it is something that I hope other ex-students will emulate and do for us in future. Because at the end of the day no matter how you look at it, we have contributed positively to their lives. “I am not saying we take all the credits for who they are today but we have

impacted their lives positively otherwise they won’t see the need to come back. A lot of them are doctors, lawyers, technocrats in all sorts of professions represented in that set and we are very proud of that.� The CEO stressed the need for the government and parents to prioritise education, as it is the bedrock of development in every society and regretted the alarming rate of out of school children. “The government should wake up and smell the coffee. The education system is rotten. We have a huge population of children who are out of school and for whatever reason it could be because of funds and there is no school located for their particular need and this is where vocational education comes in. It is not everybody that is a university material. “The government should look into vocational education where people can be trained in various professions like carpentry, tiling, plumbing, electrician etc. It doesn’t have to be about being a lawyer, doctor, accountant, engineer or IT specialist and what have you. There is always a place for those who do not have the wherewithal to go to the university. Here at Hopebay College, part of our pipeline dreams is to set up a centre for vocational studies.� The Principal of the school, Mr. Joseph Okedu lauded the ex-students’ efforts to make the event a success, especially those who had to fly in from other parts of the world. “Gathered here today are our ex-students from within Nigeria and the diaspora; we graduated about 400 students in 1998 and most of them are in various professions. Seated here today are leaders of sort: technocrats, doctors, business tycoon, lecturers, entrepreneurs, etc. We thank God for your achievements. We recall that the graduation of this set tallied with the year the college won the Bournvita brain match. “This set is the first to bestow this honour of returning to the school to say thank you. The other graduates from 1992 upwards should emulate this gesture. You have come a long way, some of you from the ends of the world to make this visit to your alma mater; your visit is highly appreciated.�

Consider Tax Rebate for Private School Investors, Abbe Tells FG Adibe Emenyonu in Benin City A former Minister of Interior, Major General Godwin Abbe (retd), has appealed to the federal government to encourage investors in private school sector through tax rebate. He said training of teachers should be extended to private schools, pointing out that the establishment of private schools in the country is an indication that government alone cannot meet the manpower development. Abbe, the Chairman/ founder, Inomwan Foundation School, Benin City, who made this known during the inauguration of a multipurpose hall in the school, said the facility is aimed at raising the standard of basic education. “The whole idea of private schools in Nigeria is an affirmation that government cannot do everything by way of manpower development. In most developed societies, it is the private entrepreneurs that are occupying the drivers’ seats in all aspects. Private developers push the

economy and educational development. “I believe that when government is training those in the public sector, it should extend same to private schools and if possible the private investors should be encouraged through tax amelioration so that they can give more value through training of children and also in sourcing for foreign exchange in importing computers. “If we do not pay particular attention to education, we will not be able to develop the country. Sound education will relief the country of a lot of problem plaguing us today.� He added that private investors in education should in turn step up in supporting government and accelerating development in the country. Dignitaries at the occasion included Retired Justice Joseph Otabor of the Customary Court of Appeal; former Group Managing Director, NNPC, Gaius Obaseki; Prelate, United Baptist Mission of Nigeria, Rev. Osama Usunalele; and Bishop Luke Oseghale, among others.

MasariVows to Strengthen Education Sector Francis Sardauna in Katsina The Katsina State Governor, Aminu Bello Masari has restated his administration’s commitment to revamp the education sector, saying that the continued flow of revenue from the federal account to the state will enable it to, on monthly basis, put up 10 blocks of classrooms in the state. He regretted that successive administrations in the state neglected the sector, which made them to record “200 to 300 pupils per class in the schools.� The governor, who spoke shortly after pupils of various primary schools within Katsina metropolis performed the cultural ‘Tashe’ at the Government House, said his administration will continue to renovate and upgrade schools throughout the state. “I want to avoid recalling what happened in the past, but facts must be stated as they are for history to take proper perspective. When I visited Kahutu to inspect a road, I came face to face with grim reality where I saw three primary schools with buildings on the ground. But today, the story is different as the affected schools are re-constructed.� He urged parents to show more interest in the educational development of their children and to ensure that they attend schools instead of allowing them to roam the streets. The governor announced Hajj seats for the head

teacher of Hamza Maigoro Memorial Primary School and the Education Secretary of Katsina Local Government. The Chairman of the State Universal Basic Education Board (SUBEB), Alhaji Lawal Daura thanked the governor for allowing the pupils on annual basis to showcase the culture of the people through the Tashe. He promised that the board would continue to implement policies geared towards revamping the dwindling fortunes of education in the state. Also, the Executive Director of the state History and Culture Bureau commended Masari for according proper attention to restoring the historical and cultural identity of Katsina and Daura people. He announced that the state has awarded contract for the renovation, rehabilitation and upgrade of the open air theatre along Jibiya Road. “Since the construction of the theatre in 1998, not a single administration offered to give attention to the structure until the coming of Masari. However, the bureau had been winning prizes, trophies and laurels during the NAFEST and other organised fiestas in the country.� The event, which featured the display of the Tashe and drama by primary school pupils, was witnessed by the Secretary to the State Government, Dr. Mustapha Inuwa; a former Speaker of the State Assembly, Alhaji Aliyu Muduru, among other dignitaries.

35

T H I S D AY Ëž Ëœ Í´Ëœ Í°ÍŽÍŻÍś

‘Alumni’s Contributions will Lessen Burden on Govt’ In this interview, the Chairperson, Implementation Committee, Ambrose Alli University Inaugural Global Awards and Fundraising 2018, Mr. Richard George speaks about the alumni’s plan to build a fit for purpose examinations and records hall estimated to cost N350 million for the university, as well as the need for alumni associations to contribute towards the development of state-funded institutions. Excerpts: way of repositioning our strategic outlook. Note however that as a state funded university we must work within the state’s budgetary constraints. This is an accepted reality we cannot shy away from.

How important and relevant is the award programme to your alma mater and to members of the association and is this what you truly need now to be a formidable association comparable to the biggest, vibrant and prominent alumni associations of the world? The relevance of this award programme cannot be overstated. First it presents the alumni community globally the opportunity to come together for the very first time since the university was formally established in 1981. Second to recognise those who have contributed and continue to do so in various spheres of human endeavour at various levels of society in the last 37 years is a long overdue exercise. While some alumni members may argue legitimately that it is not what we (alumni and university) need; it however gives energy and focus to the alumni’s strategy as a stakeholder and draws attention to the university itself - as it creates an enablement for alumni members, branches and chapters (both home and in the diaspora) to begin to align and synergise their strategies for contributing to the advancement of knowledge that is central to the vision and mission of AAU (formerly Bendel and Edo State University, Ekpoma, Nigeria). How do you hope to increase the connections among alumni of all divisions in recognition of a ‘one university’ approach to the future? The incumbent President, Professor Edward Omi Ujuanbi has made this a legacy of his administration and in the last two years alone, grown the alumni community (chapters and branches) both nationally and internationally; USA and UK respectively. What I have found most appealing is the president and the National Executive Council’s commitment to ‘one university’ approach built on peace, equity, fairness, transparency and accountability. This is what has endeared me and perhaps given me reassurance that the future of the alumni is bright if we continue along this path. My commitment in this regard is therefore non-negotiable. While the various branches and chapters operate as autonomous units taking into account local socio-cultural quirks and nuances of their base of operation, there is a centralised constitution that supersedes as a reference point for conduct, guidelines and boundaries. The key therefore is compliance. Herein lies the point of convergence. In what manner do you wish to increase their connections with the university? The connections with the university already exists in various guises with various class of graduates or individuals, chapters and branches contributing in various forms to the infrastructural development of the university. A very good example is the auditorium built exclusively and donated to the university by Pastor Chris Oyakhilome, an alumnus. An interesting point to mention here is that as recent as November 2016, I visited the university for the first time since graduating in 1987. I used the occasion to present before the university’s management some concerns of the alumni community. I am proud to state on record that the Deputy Vice-Chancellor (Administration) Professor Jude Agho, who chaired the meeting, has worked tirelessly and continues to do so to address some of these grievances. What we must be mindful of however is that AAU is a state funded university and therefore totally reliant on government subventions. The alumni want to help the university engage gear and make a

What would you consider to be your source of joy looking back to the 80s and the quality of the university’s undergraduate and postgraduate programmes? Would you say you are satisďŹ ed with your alma mater? In answer to your first question, my source of joy is in the fact that so many pioneer alumni members of this great university are now working together and collaboratively to build a strong, virile alumni with robust processes and systems in place. This is testament to the quality of the undergraduate and postgraduate programmes that most of us were schooled in during the formative years of the university. Late Professor Ambrose Alli of blessed memory certainly wanted the best, attracted the best brains to Ekpoma to build a world class institution. Our lawyers for example represent a cohort of the finest brains in the legal profession. Satisfied is not a word I would use loosely. Suffice to say I am very pleased with the work Professor Omi Ujuanbi’s led National Executive Council are doing, the efforts and ongoing mobilisation at local branch and chapter levels by the various chairpersons. However, it remains a work in progress. What is most important is that everyone plays their part with gravitas and commitment because this is a marathon race rather than a sprint. What would you consider to be AAU’s strengths and what is its future direction? AAU’s strength is in the diversity of its people. The future direction will be to continue exploring this strength through collaboration, cooperation and coordination with a view to making continued progress. This will only be achieved by visionary leadership.

George paradigm shift. By that I mean if we can contribute our widow’s mite then the burden will lessen. We can only do this as a collective body and remain apolitical while doing so. Will the forum provide an occasion to discuss the state of the university and important issues that need urgent attention if any? Yes. The Vice-Chancellor, Professor Ignatius Onimawo and our alumni President, Professor Omi Ujuanbi will be expected to deliver overview speeches. We do not however intend to make the occasion one of speeches. We want to create an interactive and thought-provoking experience while enjoying ourselves at the same time. The university has come a long way. Let’s celebrate the successes of its diverse peoples while keeping an eye on matters arising such as fundraising to build a fit for purpose examinations and records hall estimated to cost N350 million. We need the support of everyone to realise this project. What so far have been the achievements of AAU? The achievements of AAU cannot be listed here as I would run out of space. It remains till

date the pioneer state university that has blazed the trail in Nigeria. If anything, the quality of its products that are doing so well in various fields globally serves as a reference point. Indeed its greatest achievement is perhaps one of continued advancement of knowledge through delivery of its accredited academic programmes. Are you considering any endowment or research support for the university now or in the future? I am not qualified to answer this question as I am only a trustee of the alumni association. I am confident that our president will or may have a thing or two to say in this regards. All I would say however is that my experience as an alumnus in my UK university, this is certainly a path we have towed with great success. The university’s peer institutions are all moving forward with their initiatives and all strive to provide the best academic experience for their students. Does this tell you anything? Yes it does. Hence we are embarking on this bold move. AAU alumni or indeed the university is not in competition with any institution. However, where we feel there are shared values and best practices of benefit, we would adopt same as a

How is the programme funded? We have been very fortunate in this regard. Our primary sponsor is Keystone Bank (Nigeria) PLC whose MD/CEO is an alumnus. We have also identified one or two other sponsors but have yet to receive any feedback. We remain hopeful and positive. Further, we are exploring other ways to raise funds besides individual contributions from members and branches. I would like to use this opportunity to encourage any organisation or high net worth individual(s) that considers partnering or sponsoring this event to please get in touch via our website: www.aaualumni. org. Nothing is too small and we will in turn create a mutually beneficial working platform for such organisations and corporations as part of corporate social responsibility. What is the date, venue and scope of the event? The date is September 15, 2018 at the MUSON Centre, Lagos; the scope of the event once ratified by the National Executive Council (NEC) of the alumni will be published on our website and subsequent press releases. Are you expecting any special guest? Yes, as a state university our special guest of honour will be the Governor of Edo State, Godwin Obaseki. There will be other eminent personalities notably the son of the university’s founder.

Kiddies Vision Magazine Contest Produces Winners Funmi Ogundare Winners have emerged at the grand finale of Young Ministers Competition, season five, organised by Kiddies Vision Magazine to assess how well Nigerian students know the country and enlighten them

on the functions, organs and activities of government. The programme, which was organised in collaboration with Huaxing Arts Troupe, Nigeria, is also aimed at ensuring that students know the facts, histories of the country to guide them towards societal values and

good governance. The 32-week television show focused on five selected ministerial seats and commissioner seats. The ministerial seats focused on selected federal portfolios and their policies which are competed for by secondary school students, while the commissioner seats

which also focused on the same portfolios at the state level, are competed for by primary school pupils. The five selected ministries were health, youth and sports, tourism, art and culture, finance and education. The competition, which was

divided into four phases, saw winners in the primary and secondary categories receiving cheques of N100,000, N50,000 and N30,000 for the first, second and third positions respectively. Speaking at the ceremony in Lagos recently, the Director,

Kiddies Vision Magazine, Mrs. Nnena Umeohia, who expressed delight about the keenly contested competition, said it was designed to educate the children on government policies and nurture them on excellent leadership qualities.

T H I S D AY Ëž Ëœ Í´Ëœ Í°ÍŽÍŻÍś

36

CITYSTRINGS

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

Kumuyi’s Undying Passion Gboyega Akinsanmi writes that the new 30,000 capacity auditorium of the Deeper Life Bible Church is not just a befitting place of worship, but a doorway to the Kingdom of God

R-L: Pastor William Kumuyi, his wife, Mrs. Esther Kumuyi and Vice-President Yemi Osinbajo with children during the inauguration of the Deeper Life Bible Church New Auditorium, Gbagada‌recently

U

nlike any period in its 43-year existence, the Deeper Christian Life Ministry (DCLM) dominated the public space recently. It was not for any bad reason anyway. It was about its ultramodern auditorium, a magnificent superstructure built inside the swamps with the help of 21st century technologies. Even before its inauguration late April, this superstructure, which was designed to take in at least 30,000 worshippers at a time, has indeed become Gbagada’s sole portrayal. Gbagada, a sizable town where middle-class professionals and entrepreneurs often love to reside, hosts the cathedral many now refer to as the ‘gate to Heaven’. Beyond its globally acknowledged grandeur, however, Pastor William F. Kumuyi, the Church’s General Superintendent, said the new auditorium “is not for self-glorification in any way for any reason� as critics might think, given the church’s conservative posture and its outright devotion to bringing the message of love to every home. Rather, the pastor said this place “is first and foremost a gate to Heaven. It is indeed a pilgrimage centre to emancipate the society from the shackles of sin. It is a place set aside to address social ills plaguing our fatherland through the message of Christ. It is a place to prepare the Christian pilgrims for eternal homes.� In a country where social vices are rampant and armed insurgencies claiming lives at an unprecedented rate, the Church truly offers eternal hope for the Christians, who the Vice -President, Prof. Yemi Osinbajo said, were facing persecution. The Church also represents a refuge, which remains committed to preaching Christ as the only way for the oppressed and downtrodden. That is the sole mission of Deeper Life Bible Church, the general superintendent said. Its mission indeed justifies the imperative of the

new auditorium, which Kumuyi said, is not in any way an advertisement of self or riches. Likewise, according to him, the new auditorium is not the outcome of mega wealth from some money bags. Rather, he said it was a product of members’ generosity. In the beginning From different accounts of the church leaders, the beginning was not pleasant. At inception, it was full of ups and downs. At some points, it was a tale of stern persecution, which the church and largely its members suffered at different times. But the journey progressed in faith, which a senior pastor said, had turned to be a testimony for the church and mostly its members. After 43-year walk of faith, another senior pastor said the mission “has turned out testimonies on

With 15 disciples that shared his conviction, Kumuyi took a leap of faith in August 1973 with a bible study, which according to him, started in his ofďŹ cial quarters at the University of Lagos, Akoka. But three years after, the number grew in leap and bound, a development which compelled him to relocate to a sanctuary of the Redeemed Christian Church of God (RCCG), Ebute-Metta

a large scale. The testimonies are not just about the height the church has attained within the time of its existence, but also about members whose lives have been transformed and about the captives who have regained their freedom after accepting the message of love.� With 15 disciples that shared his conviction, Kumuyi took a leap of faith in August 1973 with a bible study, which according to him, started in his official quarters at the University of Lagos, Akoka. But three years after, the number grew in leap and bound, a development which compelled him to relocate to a sanctuary of the Redeemed Christian Church of God (RCCG), Ebute-Metta. For years, Kumuyi taught at the bible study centres, which evidently produced fruits of conversion and diverse testimonies of deliverance for millions of souls that had come in contact with the church. Citing its unprecedented growth, the DCLM acquired a permanent site at Gbagada, where a 3,000-capacity church auditorium was constructed in 1980. But the 3,000-capacity auditorium, which was built in 1979, does not fit into Kumuyi’s dream of an international headquarters edifice. However, the former auditorium provided an ambient place of worship for the church’s teeming members, its converts from across all denominations as well as other religious faiths. In true sense, the vision for the new auditorium predates 2005. In Kumuyi’s words, the church took a leap of faith in June 2005 to construct a 30,000-capacity auditorium, whose substructure was handled by Trevi Foundation and superstructure undertaken by Cappa D’Alberto Construction Engineering Company. At different stages, architectural and structural details were reviewed to achieve the goal of a modern international church auditorium, which the church claimed the general superintendent conceived almost four decade before it was eventually realised. With its completion, the church had become a pilgrimage centre where

spiritual tourists are desirous of visiting in the country. Apparently, its completion was a testimony, according to Kumuyi. For any reason, it was not unveiled to advertise the church or its riches. Rather, he explained, a new and larger auditorium became imperative due to the need to accommodate more worshippers. It was built purely from the members’ sacrifice of love. There is indeed a lesson for every church to learn from the approach of Deeper Life to community development. As indicated in Kumuyi’s speech, the church was not unmindful of its social responsibilities having the impact of the mega cathedral on its host community. The church, therefore, built a three-storey car par and a link bridge to create easy passage for residents of Atunrase, Ifako and Soluyi. Aside, the church installed streetlights and undertook other projects around these communities. Kumuyi succinctly justified the church’s decision. He said: “We embarked on additional projects because we believe that the development of our cities and country cannot be left to the governments alone. All churches and corporate bodies must be involved in discharging our social responsibilities.� In the love of truth Aside the church’s superlative magnificence, the general superintendent noted that the church auditorium was dedicated to the message of love, which he said, was the core of his calling. Kumuyi did not just make this declaration based on his wishful thinking, which apparently had no place in his conviction. Like the case of the biblical Solomon, Kumuyi conveyed the message of an indwelling spirit to thousands of worshippers that graced the church’s dedication. And his message was founded on a scriptural conviction espoused in the book of Haggai 2:9. Full of thanksgivings, the cleric declared: “The glory of this latter house shall

T H I S D AY Ëž Ëœ Í´Ëœ Í°ÍŽÍŻÍś

37

CITYSTRINGS

be greater than of the former, saith the Lord of hosts. And in this place, will I give peace, saith the Lord of hosts.� From different ends of this latter house, the worshippers kept responding in rancorous amen. Apparently, history has been a true witness to what Deeper Life represents not just in Nigeria, but also in Africa. In the era of its former house, as the church archive reveals, Deeper Life is synonymous to preaching the life and death of Jesus Christ. Also, it is dedicated to spreading the message of love. Armed with this evidence, one does not need a prophet to conclude that the new auditorium, which Kumuyi likened to the biblical latter house, was conceived out of Kumuyi’s undying passion for sinners and indeed in the love of propagating the truth. That also explained why he called on the church members to saturate the world with the message of Christ’s love for all men irrespective of their races. He added that the Deeper Life Bible Church would remain true “to the propagation of the message of love embodied in the life of Jesus Christ on earth. So, this new auditorium will be a pilgrimage centre for spiritual development. It will be a centre to emancipate our society and people from the shackles of sin.� Kumuyi’s call for aggressive evangelism was simple. His call was premised on a conviction that only the eternal truth in the message of Jesus Christ “has capacity to lift Nigeria from the forces plaguing its journey to unity and prosperity. There is no person born or yet to be born that can stop the gospel of Jesus Christ.� It was conceived in the love of truth for which the latter house was constructed. On this same ground, the general superintendent passionately urged the church members “to defend and preach the Gospel of Jesus Christ daily with a note that the inauguration of this latter house is not an exhibition of the worldly type. Rather, it is a gate to eternal rest that all humanity must seek.� In a rather pungent instruction, the cleric called on members of the church “to take advantage of the new auditorium to continue to propagate the gospel.� This rests on Kumuyi’s conviction that only the eternal truth in the message of Christ “has capacity to lift Nigeria from the force plaguing its journey to unity and prosperity.� In the eye of storms Even though Kumuyi came with a message of hope, Osinbajo urged all Christians “to pray for the country and indeed those who are in different positions of power.� He then provided rare justification for this renewed request. Perhaps speaking based on his personal experience as the Vice-President of the Federal Republic of Nigeria, Osinbajo said governance “is a spiritual warfare.� What makes governance a spiritual warfare? He gave different instances of persecution the Christians “are undergoing worldwide.� Even, Nigeria has its own share of this gall, which he believed, only true message of love could turn it around. For Christians worldwide, the Vice-President said, this is perhaps not the best of times. Some have been murdered cold-blooded as reports revealed daily while others suffered unquantified scale of damage. As Osinbajo

Armed with this evidence, one does not need a prophet to conclude that the new auditorium, which Kumuyi likened to the biblical latter house, was conceived out of Kumuyi’s undying passion for sinners and indeed in the love of propagating the truth. That also explained why he called on the church members to saturate the world with the message of Christ’s love for all men irrespective of their races

The front view of the Deeper Life Bible Church New Auditorium, Gbagada

L-R: First Lady of Ekiti State, Mrs. Feyisetan Fayose, Lagos State Commissioner for Woman Aairs and Poverty, Mrs. Lola Akande, Vice-President Yemi Osinbajo and Pastor William Kumuyi, at the inauguration of the Deeper Life Bible Church New Auditorium, Gbagada ‌ recently

A cross section of worshippers during the inauguration of the Deeper Life Bible Church New Auditorium, Gbagada‌recently

observed at the church’s inauguration, persecution of the Christians – whether Orthodox, Pentecostal or Protestants – is on the rise daily in Nigeria. By implication, he said, such killings and other cases of untold sufferings have become huge burden for the governments. Sordidly, Osinbajo cited the case of two Catholic priests and 17 worshippers that suspected Fulani herdsmen murdered right on the altar at Ayar Mbalom, a community under Gwer East Local Government Area, Benue State. The Vice-President also cited the gory tale of how Boko Haram insurgents “are marauding Christians killing,

kidnapping and raping women in the North-east.� For him, all these acts of violence on the Christian communities are truly a high level of sacrilege. On these horrific accounts, he came to a conclusion that governance “is a spiritual warfare. If anyone does not know that, I know. I ask the church to pray for every one of us in the position of authority in this land. “For any reason, we, as a body of Christ, must not lose focus. We must obey the Lord. It is the duty of the church, as we are, that the church prays for the government at all levels; that the church upholds the hands of those in government,

not by complaining but by supporting us with prayers,� he said with a heart full of distress for the Christians in the eyes of persecution. But Osinbajo admitted that the inauguration of the new church “is one of the proudest moments for me as a Christian. This great edifice is for the propagation of the gospel of Jesus Christ.� Aside, the Vice-President said it was “an exceptional moment in the history of Christianity in Nigeria and indeed the world. We must then work to achieve the Great Commission for the right to freedom of worship is the right guaranteed under the 1999 Constitution.�

T H I S D AY • WEDNESDAY, JUNE 6, 2018

38

BUSINESS/MONEYGUIDE

World Environment Day: CBN to Recycle Disused Polymer Notes Ndubuisi Francis in Abuja The Central Bank of Nigeria (CBN) is on the verge of recycling disused polymer banknotes into flower pots and other environmentally-friendly uses as well as ensure the disposal of its electronic-waste (e-waste) in an environmentally-sound manner The CBN Governor, Mr. Godwin Emefiele, who spoke in Abuja, Tuesday at an event to mark this year’s World Environment Day with the theme: “Beat Plastic Pollution”, observed that this year’s topic galvanises the entire world to take action to reduce the heavy burden of plastic pollution on biodiversity and human health. He admonished the bank’s personnel to shift emphasis from consuming table water in plastic bottles to drinking from the well- treated water dispensers littering the entire headquarters complex as a way of preserving the environment. Emefiele expressed CBN’s commitment to replace bottled water with reusable water dispensers and encouraging the use of paper bags as alternatives to plastic bags. “You can count

on me and my colleagues, the deputy governors to act as change champions. As a result, the Governors Committee has agreed on replacing bottled water with reusable water dispensers and encouraging the use of paper bags as alternatives to plastic bags. “Having set the tone at the top, I urge you all to take action to make our plastic consumption more sustainable, by using 97 water fountains strategically situated within the CBN building as source of drinking water,” he admonished. He also said “in line with the bank’s commitment to a green and low carbon economy, the CBN management has approved the recycling of our paper waste into tissue paper, which will be donated to the society as part of our corporate social responsibility” he said. “Management is also in the process of concluding the recycling of our polymer banknote wastes into everyday use plastics such as flower pots, dustbin, shovels etc, and the disposal of our electronic waste (e-waste) in an environmentallysound manner,” he stated. This year’s celebration of the

World Environment Day, he said, is game-changer, adding that “it will provide an opportunity for the CBN to renew its commitments towards the implementation of the Nigeria Sustainable Banking Principles and the achievement of the UN’s Sustainable Development Goals and the Paris Climate Change Agreement because a reduction in plastic use will bring about reductions in greenhouse gas emissions and our carbon footprint.” The central bank marked the day through activities including online survey, plastic-free campaigns and exhibitions by recycling companies to create awareness and understanding of the scourge of plastic pollution, which Emefiele said was in recognition of the fact that enabling the transition to a more circular economy requires sustainable commitment, attitudinal change in consumption habits. Over 50 Union Bank employee volunteers facilitated the workshops which impacted about 500 students in Lagos from schools, including St. Mary’s Private School and Agidingbi Primary School.

First Bank Partners World Remit on Digital Money Transfers Ugo Aliogo First Bank of Nigeria Limited has partnered World Remit to launch digital Money transfer services in Nigeria. The bank explained that the move was part of its commitment to improving virtual payment and money transfer services in the country and the global financial space. Disclosing this to journalists yesterday in Lagos at a media briefing, the Deputy Managing Director, First Bank of Nigeria Limited, Mr. Gbenga Shobo, said over the years, the bank has taken the lead in providing relevant e-payment options for its customers. He recalled that the bank pioneered the Western Union Money Transfer in 1996, Transfast Money Transfer, MoneyGram, Ria, PayPal, Pay Attitude “and now we are partnering with WorldRemit.” He also stated that the bank has extended its frontiers to WorldRemit in order to leverage the wide e-platform capabilities it offers to further ease the

money transfer process for their numerous customers across the globe who seek new and easier payment transaction options regularly. Shobo explained that WorldRemit’s mobile-first, digital model complements the bank’s digital strategy to drive convenient banking transactions from the comfort of homes and offices using the FirstMobile and FirstOnline banking platforms. According to him, “People from some of the 50 countries across the world where WorldRemit operates can now send money directly from their mobile phones into FirstBank accounts in Nigeria without visiting brick and mortar agent locations; and this is the first of its kind in money transfer business in our country. “It is worthy of note that this service is available to senders in 50 countries and over 145 destinations across Europe, Asia, Africa, Australia and the Americas. At FirstBank, we are excited at this partner-

ship. Our brand promise is to always deliver the ultimate ‘gold standard’ of value and excellence; and this collaboration with WorldRemit is one of the many ways we provide value to our customers as we continue to devise innovative ways to provide convenience and ease of banking for them.” In his remark, the Regional, Head of Middle East and Africa, WorldRemit, Andrew Stewart, said Worldremit is the leading digital money transfer service that makes sending money as easy as instant message, adding that majority of its customers are migrant workers who send money back home to support friends and family, “users can even pay school fees, utility bills, and groceries using their mobile phones.” He remarked that they are currently in more than 50 countries and more than 145 receiving destinations, leading the shift to online and mobile transfers and improving speed and convenience for users, while lowering costs.

Paga Bags Award for HighestTransaction For the third year in a row, Paga has been presented with the award for ‘The highest transaction count on the Global Mobile Regulatory and Monitoring Platform in 2017,’ by the Nigeria InterBank Settlement Systems Plc (NIBBS). Commenting on the feat, a statement quoted the chief executive of Paga, Tayo Oviosu, to have recalled thatwhen he started the company in 2009, he set out to solve two problems, which he listed to include — make it easy to send money to anyone, and to deliver financial services to the unbanked and under-banked. Oviosu added: “Since

launching our service to the market in 2012, we have realised that our journey to solving these problems is making life possible for Nigerians, every single day. “We are very grateful that our platform has earned the faith and trust of the people, and we continue to be your number one platform for mobile money transfers.” The statement added: “Paga, which is licenced by the CBN, continues to pave the way as the leading mobile money operator in Nigeria today. “CBN recently announced its SANEF initiative, partnering with Paga amongst others, to grow the reach of agents

providing financial services to 500,000, in order to ramp up inclusion for all Nigerians. “Of all the Mobile Money Operators, Paga has the largest reaching agent network, with over 15,000 transacting agents serving their dedicated communities.” Since its launch, Paga has recorded a milestone of over eight million users at the end of 2017 and a sum total of approximately 42.7 million transactions till date, with a total value of over N660 billion. Of these numbers, in 2017, the total volume of transactions exceeded 13.5 million with a total transaction value of about N297 billion.

Emefiele

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA) 2018

Month

MARCH

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 • Source - CBN

MANAGED FUNDS Month

MARCH

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 • Monetary Policy Rate - 13%

OPEC DAILY BASKET PRICE AS AT, MON, JUNE 4, 2018 The price of OPEC basket of fourteen crudes stood at $73.56 a barrel on Monday, compared with $74.23 the previous Friday, 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), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela). SOURCE: OPEC headquarters, Vienna

T H I S D AY • WEDNESDAY, JUNE 6, 2018

39

MARKET NEWS

Market Extends Gains on Sustained Bargain Hunting in Bellwether Stocks Goddy Egene and Nosa Alekhuogie

their control yesterday as 39 stocks appreciated in value compared with 15 that declined. Consequently the Nigerian Stock Exchange AllShare Index (ASI) jumped 2.5 per cent to close at 37,854.92, while market capitalisation added N328.8 billion to close higher at N13.7 trillion. According to analysts at Meristem Securities Limited,

Sustained bargain hunting in heavy weight counters saw the equities market extend its gains for the second day yesterday. The market had on Monday recovered from a spell of bearish trading that lasted 11 days. But the bulls consolidated

the mood in the market was upbeat as investor appetite showed encouraging signs of improvement. “Bargain hunting on bellwether stocks such as Dangote Cement, Nigerian Breweries , GTBank drove the positive performance of the market. We expect this trend to persist in the days ahead as investors continue to take advantage

of the relatively low prices across the sectors,” they said. Oando Plc led the price gainers with 9.8 per cent followed by International Breweries Plc that garnered 7.6 per cent. Dangote Sugar Refinery Plc chalked up 6.3 per cent just as Honeywell Flour Mills Plc, Okomu Oil Palm Plc and Nigerian Breweries Plc gained 5.0 apiece.

PRICES FOR SECURITIES TRADED AS OF

Similarly, Lafarge Africa Plc, Diamond Bank Plc and Fidelity Bank Plc appreciated by 4.9 per cent each, while FCMB Group Plc went up by 4.8 per cent. Conversely, Consolidated Hallmark Insurance Plc led the price losers with 6.6 per cent, trailed by Royal Exchange Plc with 5.8 per cent. UAC of Nigeria Plc shed 4.5 per

cent, while First Aluminium Nigeria Plc, Total Nigeria Plc and Sovereign Trust Insurance Plc went down by 4.5 per cent, 4.3 per cent and 3.7 per cent in that order. Meanwhile, activity level was mixed as volume traded rose 8.0 per cent to 339.7 million shares while value traded fell 15.2 per cent to N6.0 billion.

A S AT 3 1 / 0 5 / 2 0 1 8

Price List (Equities) PRICES FOR PREMIUM BOARD SECURITIES FINANCIAL SERVICES S/N 1 2 3

BANKING ACCESS BANK PLC. UNITED BANK FOR AFRICA PLC ZENITH INTERNATIONAL BANK PLC

MARKET CAP(Nm) 300,850.90

PRICE

%CHANGE

TRADES

VOLUME

10.40

-4.59

112

8,077,933

369,353.75

10.80

1.89

261

65,561,668

800,610.59

S/N

-0.39

PRICE

%CHANGE

TRADES

VOLUME

33

4 OTHER FINANCIAL INSTITUTIONS FINANCIAL SERVICES INDUSTRIAL GOODS

10.15

5.73

371

18,270,019

34

371

18,270,019

35

1,186 219,102,073

36

S/N 5 6 BUILDING MATERIALS INDUSTRIAL GOODS OIL AND GAS S/N 7 EXPLORATION AND PRODUCTION OIL AND GAS PREMIUM BOARD TOTALS Price List (Equities) PRICES FOR MAIN BOARD SECURITIES AGRICULTURE S/N 8 9 10 CROP PRODUCTION S/N 11 FISHING/HUNTING/TRAPPING S/N 12 LIVESTOCK/ANIMAL SPECIALTIES AGRICULTURE CONGLOMERATES S/N 13 14 15 16 17 DIVERSIFIED INDUSTRIES CONGLOMERATES CONSTRUCTION/REAL ESTATE S/N 18 BUILDING CONSTRUCTION S/N 19 20 INFRASTRUCTURE/HEAVY CONSTRUCTION S/N 21

815 200,832,054 OTHER FINANCIAL INSTITUTIONS FBN HOLDINGS PLC

BUILDING MATERIALS DANGOTE CEMENT PLC LAFARGE AFRICA PLC.

EXPLORATION AND PRODUCTION SEPLAT PETROLEUM DEVELOPMENT COMPANY LTD

MARKET CAP(Nm) 364,337.22

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

4,089,721.78

240.00

-1.03

38

2,337,956

301,835.30

34.80

-4.92

137 175 175

1,747,143 4,085,099 4,085,099

MARKET CAP(Nm) 437,332.00

PRICE 743.20

%CHANGE 1.16

22 23 24 REAL ESTATE INVESTMENT TRUSTS (REITS) CONSTRUCTION/REAL ESTATE CONSUMER GOODS S/N 25 AUTOMOBILES/AUTO PARTS S/N 26 27 28 29

TRADES

VOLUME

45

182,144

45

182,144

32

37 38 FOOD PRODUCTS S/N 39 40 FOOD PRODUCTS--DIVERSIFIED S/N 41

45 182,144 1,406 223,369,316

42 HOUSEHOLD DURABLES S/N 43

CROP PRODUCTION FTN COCOA PROCESSORS PLC OKOMU OIL PALM PLC. PRESCO PLC

INFRASTRUCTURE/ HEAVY CONSTRUCTION JULIUS BERGER NIG. PLC. ROADS NIG PLC.

PRICE

%CHANGE

TRADES

VOLUME

23,477.53

12.50

-

30

85,307

1,167,186.33

1,472.50

-4.38

66

228,488

96

313,795

HOUSEHOLD DURABLES NIGERIAN ENAMELWARE PLC. VITAFOAM NIG PLC.

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

1,680.31

22.10

-

0

0

3,439.82

3.30

-

19 19

146,892 146,892

PERSONAL/HOUSEHOLD PRODUCTS P Z CUSSONS NIGERIA PLC. UNILEVER NIGERIA PLC.

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

86,754.92

21.85

-

37

613,738

295,580.53

51.45

5.00

50

695,336

87

1,309,074

920

15,330,021

BANKING

PRICE

%CHANGE

TRADES

VOLUME

4.26

-

0 0

0 0

%CHANGE

TRADES

VOLUME

1,403.06

0.53

-3.64

5

191,180

221.82 2,111.93

0.57 3.25

-

4 0

49,464 0

51,216.47

1.26

-0.79

157

16,207,774

42,355.06

14.70

-0.34

31 197 197

415,786 16,864,204 16,864,204

MARKET CAP(Nm) 711.32

S/N 55 56 57 58 59

PRICE

%CHANGE

TRADES

VOLUME

60

4.79

-

0 0

0 0

61

TRADES

VOLUME

MARKET CAP(Nm)

PRICE

36,366.00 165.00

27.55 6.60

%CHANGE -

23 0

73,400 0

23

73,400

62 63 64 65 66

REAL ESTATE DEVELOPMENT UACN PROPERTY DEVELOPMENT CO. LIMITED

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

5,560.57

2.14

-

29

343,911

29

343,911

REAL ESTATE INVESTMENT TRUSTS (REITS) SKYE SHELTER FUND PLC UNION HOMES REAL ESTATE INVESTMENT TRUST (REIT) UPDC REAL ESTATE INVESTMENT TRUST

MARKET CAP(Nm) 2,000.00

PRICE

%CHANGE

TRADES

VOLUME

69

100.00

-

0

0

70

11,300.89

45.20

-

0

0

71

500

72 73

26,682.70

AUTOMOBILES/AUTO PARTS DN TYRE & RUBBER PLC

MARKET CAP(Nm) 1,431.80

BEVERAGES--BREWERS/DISTILLERS CHAMPION BREW. PLC. GOLDEN GUINEA BREW. PLC. GUINNESS NIG PLC INTERNATIONAL BREWERIES PLC.

MARKET CAP(Nm) 15,658.99

10.00

-

1 1

500

53

417,811

67 68

74 PRICE

%CHANGE

TRADES

VOLUME

0.30

-

1 1

6,000 6,000

76

PRICE

%CHANGE

TRADES

VOLUME

77

2.00

1.52

15

585,064

242.22

0.89

-

0

0

219,038.28

100.00

-

41

112,495

382,515.86

44.50

-9.64

21

350,903

75

78 79 80

2,610,540

MARKET CAP(Nm)

FOOD PRODUCTS-DIVERSIFIED CADBURY NIGERIA PLC. NESTLE NIGERIA PLC.

DIAMOND BANK PLC ECOBANK TRANSNATIONAL INCORPORATED FIDELITY BANK PLC GUARANTY TRUST BANK PLC. JAIZ BANK PLC SKYE BANK PLC STERLING BANK PLC. UNION BANK NIG.PLC. UNITY BANK PLC WEMA BANK PLC.

PRICE

60

0 6,924,344

S/N

MARKET CAP(Nm)

2.22

364,630

45

3,191,533

2.30

0 361

23,847 1,655,543

1,535,990

878,220

18,239.45

47

1,466,322

33

588,095

52

-

57

106

57

-1.58

-3.06

13 73

VOLUME

2.65

31.10

19.00

-

1,535,990

17.45

127,521.81

13.45

-5.88

33

209,400.00

3,676.41

80.00

TRADES

2,227,859

50,339.33

75.00

-4.94

VOLUME

138

0

76,312.80

%CHANGE

TRADES

3.35

255,000

75,000.00

0.77

%CHANGE

9.25

0

165,374

PRICE

PRICE

46,250.00

7

VOLUME

48

6,629,916

MARKET CAP(Nm)

-

3

49 50 51 52 53 54 BANKING

5,581,454

356

-4.38

TRADES

MARKET CAP(Nm) 2,310.00

279

0.40

-

LIVESTOCK/ANIMAL SPECIALTIES LIVESTOCK FEEDS PLC.

-1.91

6.55

%CHANGE

46

107.90

1,489.00

0.20

47

862,865.73

1,167.21

PRICE

MARKET CAP(Nm) 511.20

BUILDING CONSTRUCTION ARBICO PLC.

FOOD PRODUCTS DANGOTE FLOUR MILLS PLC DANGOTE SUGAR REFINERY PLC FLOUR MILLS NIG. PLC. HONEYWELL FLOUR MILL PLC MULTI-TREX INTEGRATED FOODS PLC N NIG. FLOUR MILLS PLC. NASCON ALLIED INDUSTRIES PLC UNION DICON SALT PLC.

440.00

FISHING/HUNTING/ TRAPPING ELLAH LAKES PLC.

DIVERSIFIED INDUSTRIES A.G. LEVENTIS NIGERIA PLC. JOHN HOLT PLC. S C O A NIG. PLC. TRANSNATIONAL CORPORATION OF NIGERIA PLC U A C N PLC.

44 PERSONAL/HOUSEHOLD PRODUCTS CONSUMER GOODS FINANCIAL SERVICES

NIGERIAN BREW. PLC.

MARKET CAP(Nm)

REAL ESTATE DEVELOPMENT S/N

S/N 31

25.50

BANKING

442 127,192,453

30 BEVERAGES--BREWERS/DISTILLERS

INSURANCE CARRIERS, BROKERS AND SERVICES AFRICAN ALLIANCE INSURANCE COMPANY PLC AIICO INSURANCE PLC. AXAMANSARD INSURANCE PLC CONSOLIDATED HALLMARK INSURANCE PLC CONTINENTAL REINSURANCE PLC CORNERSTONE INSURANCE COMPANY PLC. EQUITY ASSURANCE PLC. GOLDLINK INSURANCE PLC GREAT NIGERIAN INSURANCE PLC GUINEA INSURANCE PLC. INTERNATIONAL ENERGY INSURANCE COMPANY PLC LASACO ASSURANCE PLC. LAW UNION AND ROCK INS. PLC. LINKAGE ASSURANCE PLC MUTUAL BENEFITS ASSURANCE PLC. N.E.M INSURANCE CO (NIG) PLC. NIGER INSURANCE CO. PLC. PRESTIGE ASSURANCE CO. PLC. REGENCY ALLIANCE INSURANCE COMPANY PLC SOVEREIGN TRUST INSURANCE PLC STANDARD ALLIANCE INSURANCE PLC. STANDARD TRUST ASSURANCE PLC UNIC DIVERSIFIED HOLDINGS PLC. UNIVERSAL INSURANCE COMPANY PLC VERITAS KAPITAL ASSURANCE PLC WAPIC INSURANCE PLC

MARKET CAP(Nm) 30,803.32

PRICE

%CHANGE

TRADES

VOLUME

1.33

1.53

92

10,449,717

357,816.25

19.50

-2.74

93

5,320,435

55,052.11

1.90

4.97

287

20,214,931

1,191,962.76

40.50

-1.22

321

74,004,801

18,857.12 9,716.21 37,427.54 161,620.18 10,169.72 29,316.59

0.64 0.70 1.30 5.55 0.87 0.76

1.59 -1.41 4.00 -4.31 4.11

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

4,117.00

0.20

-

0

0

4,019.52

0.58

1.72

27

3,028,104

26,250.00

2.50

-

4

28,937

2,310.00

0.33

-2.94

18

1,079,141

14,833.02

1.43

-

4

101,000

24 1,802,291 52 4,535,144 201 29,800,482 37 479,317 11 104,875 16 1,331,359 1,134 148,043,352

5,155.33

0.35

-

2

50,700

2,800.00

0.20

-

1

11,000

2,411.47

0.53

-

0

0

1,913.74

0.50

-

0

0

2,456.00

0.40

-

0

0

539.32

0.42

-

0

0

2,856.14

0.39

2.63

53

9,143,215

4,038.55

0.94

-

1

100

6,640.00

0.83

1.22

9

1,025,583

2,960.00

0.37

2.78

32

5,289,255

13,518.09

2.56

-

14

1,175,926

1,857.48

0.24

-

2

30,000

1,832.36

0.48

-

0

0

1,733.88

0.26

-3.85

13

3,738,100

2,168.61

0.26

-3.70

13

2,157,024

5,422.63

0.42

-

3

3,220

4,483.72

0.48

-

0

0

516.46

0.20

-

0

0

8,000.00

0.50

-

0

0

4,437.33

0.32

-3.03

18

1,099,701

6,691.37

0.50

-

25

1,256,649

WEDNESDAY, ʹ˜ ͺ͸͹Ͷ ˾ T H I S D AY

40

Nigeria Daily Stock Market Report:

THISDAY AFRINVEST 40 INDEX

THISDAY AFRINVEST 40 CONTINUE TO OUTPERFORM NSE ASI & NSE 30 INDEX The ThisDay Afrinvest 40 index was created a year ago (June ϱƚŚ ϮϬϭϳͿ ĐŽŶƐŝƐƟŶŐ ŽĨ ϰϬ ƐƚŽĐŬƐ ǁŚŝĐŚ ĐƵƚ ĂĐƌŽƐƐ ƚŚĞ ǀĂƌŝŽƵƐ ƐĞĐƚŽƌƐ ŽŶ ƚŚĞ EŝŐĞƌŝĂŶ ^ƚŽĐŬ džĐŚĂŶŐĞ͘ dŚĞƐĞ ƐƚŽĐŬƐ ǁĞƌĞ ƐĞůĞĐƚĞĚ ďĂƐĞĚ ŽŶ ƚŚĞŝƌ ůŝƋƵŝĚŝƚLJ͕ ƚƌĂĚĂďŝůŝƚLJ ;ŇŽĂƚͿ ĂŶĚ ƐŝnjĞ ;ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝnjĂƟŽŶͿ͘ ŽůůĞĐƟǀĞůLJ͕ ƚŚĞƐĞ ƐƚŽĐŬƐ ĂĐĐŽƵŶƚ ĨŽƌ ϵϰ͘Ϭй ŽĨ ƚŽƚĂů ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝnjĂƟŽŶ ĂŶĚ ĂƉƉƌŽdžŝŵĂƚĞůLJ ϰϮ͘Ϭй ŽĨ ƚƌĂĚĂďůĞ ŇŽĂƚ͘

Wednesday, June 6, 2018

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

Ticker

Current Price

Price Previous Current Change Price Weighting YTD Change

Price Change Index to Date

ROE

ROA

P/E

P/BV

Divinden Earnings d Yield Yield

THISDAY AFRINVEST 40 1,603.50

2.86%

3.9%

60.3%

18.7%

7.0%

7.5x

0.9x

5.3%

1

Guaranty Trust Bank PLC

42.00

4.0%

21.2%

3.1%

3.6%

32.6%

5.2%

6.8x

2.4x

6.4%

10.9% 14.7%

2

Zenith Bank PLC

27.05

4.0%

13.2%

5.5%

4.3%

26.3%

3.6%

4.5x

1.2x

10.0%

22.1%

3

Nigerian Brew eries PLC

111.30

5.0%

7.2%

-17.5%

-17.6%

17.4%

8.3%

27.9x

4.7x

3.7%

3.6%

1,430.00

0.0%

7.1%

-8.1%

-8.1%

73.3%

18.9%

33.4x

21.2x

3.0%

3.0%

228.00

2.2%

5.9%

-0.9%

-0.9%

22.7%

12.0%

19.7x

4.6x

4.6%

5.1%

4

Nestle Nigeria PLC

As at Tuesday, 5th of June 2018, the Afrinvest 40 index gained Ϯ͘ϵй ƚŽ ĐůŽƐĞ ŚŝŐŚĞƌ Ăƚ ϭ͕ϲϬϯ͘ϱϬ ƉŽŝŶƚƐ ǁŚŝůĞ ŝƚƐ zd ƌĞƚƵƌŶ ƌŽƐĞ ƚŽ ϯ͘ϵй͘ dŚĞ zd ƌĞƚƵƌŶ ŽĨ ƚŚĞ dŚŝƐ ĂLJ ĨƌŝŶǀĞƐƚ ϰϬ ƐƵƌƉĂƐƐĞƐ ƚŚĞ zd ƌĞƚƵƌŶ ŽĨ ƚŚĞ E^ -All Share Index and the E^ ϯϬ͕ ǁŚŝĐŚ ŝƐ Ă ŶĞŐĂƟǀĞ ŽĨ ϭ͘Ϭй ĂŶĚ ϭ͘ϵй ƌĞƐƉĞĐƟǀĞůLJ͘

5

Dangote Cement PLC

6

FBN Holdings Plc

11.00

4.8%

6.6%

25.0%

25.1%

6.7%

0.8%

7.9x

0.6x

2.3%

12.6%

7

Access Bank PLC

10.85

1.9%

4.5%

3.8%

2.4%

12.7%

1.5%

5.3x

0.7x

6.0%

18.7%

8

United Bank for Africa PLC

11.30

2.7%

4.6%

9.7%

8.5%

15.9%

1.9%

5.0x

0.8x

7.5%

20.0%

9

Ecobank Transnational Inc

19.00

-0.5%

3.5%

11.8%

16.8%

-14.6%

-1.3%

6.3x

0.7x

10

SEPLAT Petroleum Development C

740.00

0.0%

3.5%

18.2%

18.2%

22.3%

13.2%

3.8x

0.8x

2.4%

26.3%

zĞƐƚĞƌĚĂLJ͛s gain in the Thisday Afrinvest 40 was due to gains in GUARANTY ;нϰ͘ϬйͿ͕ ZENITH ;нϰ͘ϬйͿ ĂŶĚ NIGERIAN BREWERIES ;нϱ͘ϬйͿ ǁŚŝĐŚ ĐƵŵƵůĂƟǀĞůLJ ĂĐĐŽƵŶƚƐ ĨŽƌ ϰϭ͘ϲй ŽĨ ƚŚĞ ŝŶĚĞdž͘

11

Stanbic IBTC Holdings PLC

46.10

0.0%

3.1%

11.1%

12.7%

30.8%

4.1%

8.7x

2.4x

1.1%

11.4%

12

Unilever Nigeria PLC

51.55

0.2%

3.1%

25.7%

28.2%

19.2%

8.0%

27.6x

3.8x

1.0%

3.6%

13

Guinness Nigeria PLC

95.00

0.0%

2.2%

1.1%

1.1%

15.4%

6.1%

18.1x

14

Lafarge Africa PLC

34.75

5.0%

1.2%

-22.6%

-22.6%

-36.8%

-7.7%

15

Fidelity Bank PLC

2.12

5.0%

1.0%

-13.8%

-17.8%

10.4%

1.4%

16

Oando PLC

6.70

9.8%

1.4%

11.9%

11.9%

10.3%

1.5%

17

Dangote Sugar Refinery PLC

18.35

6.4%

1.0%

-8.3%

-9.9%

45.0%

20.0%

18

Okomu Oil Palm PLC

84.00

5.0%

1.3%

24.1%

24.1%

39.7%

29.4%

19

International Brew eries PLC

42.00

7.7%

0.6%

-22.9%

-23.6%

24.6%

7.4%

20

Flour Mills of Nigeria PLC

31.15

3.5%

0.7%

7.4%

7.4%

13.1%

3.0%

6.5x

21

Transnational Corp of Nigeria

1.33

4.7%

0.5%

-8.9%

-10.1%

11.2%

2.5%

22

UAC of Nigeria PLC

14.00

-4.8%

0.5%

-17.2%

-17.2%

1.5%

0.6%

23

Diamond Bank PLC

1.48

5.0%

0.5%

-1.3%

-5.7%

-5.8%

-0.7%

24

Total Nigeria PLC

193.30

-4.3%

0.4%

-15.9%

-15.9%

25.0%

5.3%

9.3x

2.2x

8.6%

25

FCMB Group Plc

2.36

4.9%

0.7%

49.4%

5.8%

0.9%

4.5x

0.3x

4.2%

22.2%

26

11 PLC

166.00

0.0%

0.4%

-14.7%

-14.7%

38.8%

15.7%

6.0x

2.0x

4.8%

16.8%

27

Forte Oil PLC

35.50

0.0%

0.4%

-18.4%

-15.5%

17.6%

1.6%

19.2x

3.0x

0.0%

^ƵƐƚĂŝŶĞĚ ĂƌŐĂŝŶ ,ƵŶƟŶŐ ŝŶ ĞůůǁĞƚŚĞƌƐ ƌŝǀĞƐ ƋƵŝƟĞƐ Market͙ NSE ASI up 2.5% dŚĞ ĚŽŵĞƐƟĐ ďŽƵƌƐĞ ĞdžƚĞŶĚĞĚ ŝƚƐ ƌĞĐŽǀĞƌLJ ƚŽ ƚŚĞ ƐĞĐŽŶĚ ĐŽŶƐĞĐƵƟǀĞ ƐĞƐƐŝŽŶ ĂƐ ďĂƌŐĂŝŶ ŚƵŶƟŶŐ ŝŶ ďĞůůǁĞƚŚĞƌƐ ĐŽŶƟŶƵĞƐ ƚŽ ĚƌŝǀĞ ƉĞƌĨŽƌŵĂŶĐĞ͘ Ɛ Ă ƌĞƐƵůƚ͕ ƚŚĞ E^ ůů ^ŚĂƌĞ /ŶĚĞdž ; ^/Ϳ ƌŽƐĞ Ϯ͘ϱй ƚŽ ƐĞƩůĞ Ăƚ ϯϳ͕ϴϱϰ͘ϵϮ ƉŽŝŶƚƐ ǁŚŝůĞ zd ƌĞƚƵƌŶ ŝŵƉƌŽǀĞĚ – ĂůƚŚŽƵŐŚ ƐƟůů ŶĞŐĂƟǀĞ – to -ϭ͘Ϭй͘ dŚĞ ďƵůůŝƐŚ ƉĞƌĨŽƌŵĂŶĐĞ ƌĞĐŽƌĚĞĚ ŝŶ ƚŽĚĂLJ͛s session was largely due to gains in DANGCEM ;нϮ͘ϮйͿ͕ GUARANTY ;нϰ͘ϬйͿ ĂŶĚ NIGERIAN BREWERIES ;нϱ͘ϬйͿ͘ ĐĐŽƌĚŝŶŐůLJ͕ ŝŶǀĞƐƚŽƌƐ ŐĂŝŶĞĚ EϯϮϴ͘ϴďŶ ŝŶ ǀĂůƵĞ ĂƐ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝnjĂƟŽŶ ŝŵƉƌŽǀĞĚ ƚŽ Eϭϯ͘ϳƚŶ͘ ĐƟǀŝƚLJ ůĞǀĞů ǁĂƐ ŵŝdžĞĚ ĂƐ ǀŽůƵŵĞ ƚƌĂĚĞĚ ƌŽƐĞ ϴ͘Ϭй ƚŽ Eϯϯϵ͘ϳŵ ƵŶŝƚƐ ǁŚŝůĞ ǀĂůƵĞ ƚƌĂĚĞĚ ǁĞĂŬĞŶĞĚ͕ ĚŽǁŶ ϭϱ͘Ϯй ƚŽ Eϲ͘ϬďŶ͘ dŚĞ ƚŽƉ ƚƌĂĚĞĚ ƐƚŽĐŬƐ ďLJ ǀŽůƵŵĞ ǁĞƌĞ ACCESS ;ϭϯϯ͘ϭŵͿ͕ GUARANTY ;ϯϵ͘ϯŵͿ ĂŶĚ UBA ;Ϯϯ͘ϮŵͿ ǁŚŝůĞ GUARANTY ;Eϭ͘ϲďŶͿ͕ ACCESS ;Eϭ͘ϰďŶͿ ĂŶĚ DANGCEM ;Eϵϭϭ͘ϮŵͿ ǁĞƌĞ ƚŚĞ ƚŽƉ ƚƌĂĚĞĚ ƐƚŽĐŬƐ ďLJ ǀĂůƵĞ͘ ƵůůŝƐŚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ ^ĞĐƚŽƌ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ŵŽƐƚůLJ ďƵůůŝƐŚ ĂƐ ϰ ŽĨ ƚŚĞ ϱ ŝŶĚŝĐĞƐ ƵŶĚĞƌ ŽƵƌ ǁĂƚĐŚ ĐůŽƐĞĚ ŝŶ ƚŚĞ ŐƌĞĞŶ͘ dŚĞ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ĂŶĚ ĂŶŬŝŶŐ ŝŶĚŝĐĞƐ ƚƌĞŶĚĞĚ ŶŽƌƚŚǁĂƌĚƐ͕ ƵƉ ϯ͘Ϯй ĂƉŝĞĐĞ ĚƵĞ ƚŽ ďĂƌŐĂŝŶ ŚƵŶƟŶŐ ŝŶ DANGCEM ;нϮ͘ϮйͿ͕ WAPCO ;нϱ͘ϬйͿ͕ GUARANTY ;нϰ͘ϬйͿ ĂŶĚ ZENITH ;нϰ͘ϬйͿ͘ dŚĞ ŽŶƐƵŵĞƌ 'ŽŽĚƐ ŝŶĚĞdž ĨŽůůŽǁĞĚ ĐůŽƐĞůLJ͕ ƵƉ Ϯ͘ϳй ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ŐĂŝŶƐ ŝŶ NIGERIAN BREWERIES ;нϱ͘ϬйͿ ĂŶĚ INTBREW ;нϳ͘ϳйͿ ǁŚŝůĞ the Insurance index closed Ϭ͘Ϯй ŚŝŐŚĞƌ ĂƐ Ă ƌĞƐƵůƚ ŽĨ ďƵLJŝŶŐ interest in WAPIC ;нϰ͘ϯйͿ ĂŶĚ MBENEFIT ;нϮ͘ϲйͿ͘ KŶ ƚŚĞ ŽƚŚĞƌ ŚĂŶĚ͕ ƚŚĞ Kŝů Θ 'ĂƐ ŝŶĚĞdž ĞŵĞƌŐĞĚ ƚŚĞ ůŽŶĞ ůŽƐĞƌ ƐŚĞĚĚŝŶŐ Ϭ͘ϲй ŽŶ ĂĐĐŽƵŶƚ ŽĨ ůŽƐƐĞƐ ŝŶ TOTAL (-ϰ͘ϯйͿ͘ Ϳ

/ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ ĂƐ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ ;ĂĚǀĂŶĐĞͬ ĚĞĐůŝŶĞ ƌĂƟŽͿ ƐƚƌĞŶŐƚŚĞŶĞĚ ƚŽ Ϯ͘ϲdž ĨƌŽŵ ϭ͘Ϭdž ŝŶ ƚŚĞ ƉƌŝŽƌ ƐĞƐƐŝŽŶ ĂƐ ϯϵ ƐƚŽĐŬƐ ĂĚǀĂŶĐĞĚ ĂŐĂŝŶƐƚ ϭϱ ĚĞĐůŝŶĞƌƐ͘ OANDO ;нϵ͘ϴйͿ͕ INTBREW ;нϳ͘ϳйͿ ĂŶĚ DANGSUGAR ;нϲ͘ϰйͿ ǁĞƌĞ ƚŚĞ ƚŽƉ ƉĞƌĨŽƌŵŝŶŐ ƐƚŽĐŬƐ ƚŽĚĂLJ ǁŚŝůĞ HMARKINS (-ϲ͘ϳйͿ͕ ROYALEX (-ϱ͘ϵйͿ ĂŶĚ UACN (-ϰ͘ϴйͿ ǁĞƌĞ ƚŚĞ ǁŽƌƐƚ ƉĞƌĨŽƌŵĞƌƐ͘ /Ŷ ůŝŶĞ ǁŝƚŚ ŽƵƌ ĞdžƉĞĐƚĂƟŽŶƐ͕ ƚŽĚĂLJ͛s ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ůĂƌŐĞůLJ ĚƌŝǀĞŶ ďLJ ďĂƌŐĂŝŶ ŚƵŶƟŶŐ ŝŶ ůĂƌŐĞ ĐĂƉ ǀĂůƵĞ ƐƚŽĐŬƐ ĂŶĚ ǁĞ ďĞůŝĞǀĞ ƚŚŝƐ ǁŝůů ƌĞŵĂŝŶ Ă ŬĞLJ ĚƌŝǀĞƌ ŝŶ ƚŚĞ ŶĞĂƌ ƚĞƌŵ͘

#HTKPXGUV 5GEWTKVKGU .KO

5&

$ 'HDOLQJ 0HPEHU RI WKH 1LJHULDQ 6WRFN ([FKDQJH

2.4x

0.7%

5.5%

1.9x

4.3%

-17.8%

1.7x

0.3x

5.2%

60.0%

8.3x

0.5x

5.5x

2.0x

13.6%

18.3%

8.4x

2.9x

3.6%

11.9%

44.0x

10.0x 0.8x

2.9%

15.4%

8.1x

0.8x

1.5%

12.3%

22.8x

0.6x

4.6%

4.4%

12.0%

2.3%

0.2x

-49.4% 10.7%

5.2%

28

PZ Cussons Nigeria PLC

20.80

0.4%

1.0%

-1.7%

10.7%

5.0%

19.7x

2.0x

2.5%

5.1%

29

Cadbury Nigeria PLC

11.50

0.0%

0.3%

-26.6%

-26.3%

2.0%

0.8%

53.7x

1.8x

1.4%

1.9%

30

Presco PLC

70.35

-1.3%

0.4%

2.7%

2.7%

35.8%

24.8%

2.9x

0.9x

2.8%

34.3%

31

NASCON Allied Industries PLC

19.40

4.9%

0.3%

4.9%

0.9%

52.3%

19.7%

9.2x

4.1x

7.7%

10.9%

32

UPDC Real Estate Investment Tr

10.00

0.0%

0.3%

0.0%

0.0%

0.8x

7.2%

33

Union Bank of Nigeria PLC

5.50

3.8%

0.2%

-29.5%

-26.8%

5.3%

1.1%

7.9x

0.6x

34

Julius Berger Nigeria PLC

26.55

0.0%

0.3%

-5.2%

-5.2%

17.3%

1.8%

7.4x

1.2x

3.8%

13.6%

35

Sterling Bank PLC

1.26

3.3%

0.3%

16.7%

11.5%

10.7%

1.0%

3.8x

0.4x

1.6%

26.5%

36

Dangote Flour Mills Plc

9.35

4.5%

0.2%

-23.0%

-23.0%

1.2x

2.1%

37

GlaxoSmithKline Consumer Niger

19.20

0.0%

0.2%

-11.2%

-11.2%

30.3x

1.3x

39.5%

3.3%

0.0%

4.4%

2.8%

12.6%

38

Chemical and Allied Products P

36.80

0.2%

8.2%

3.1%

66.2%

30.2%

17.2x

11.5x

5.9%

5.8%

39

Beta Glass PLC

87.35

0.0%

0.2%

70.2%

70.2%

18.4%

11.9%

12.3x

2.1x

1.3%

8.1%

40

Transcorp Hotels Plc

7.45

0.0%

0.1%

3.3%

3.3%

5.3%

2.9%

19.5x

1.0x

1.8%

5.1%

T o p 10 G a in e r s T ic k er

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

P ric e

P ric e C hg %

6.70

9.8%

A C C ESS

133.1

1.9%

IN T B R EW

42.00

7.7%

GUA R A N T Y

39.3

4.0%

D A N GSUGA R

18.35

6.4%

UB A

23.2

2.7%

2.31

5.0%

Z EN IT H B A N K

20.0

4.0%

OKOM UOIL

84.00

5.0%

FB NH

12.5

4.8%

NB

111.30

5.0%

D IA M ON D B N K

7.8

5.0%

WA P C O

34.75

5.0%

R EGA LIN S

6.9

4.2%

1.48

5.0%

ST ER LN B A N K

6.7

3.3%

OA N D O

H ON YF LOUR

D IA M ON D B N K

/ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ &ƵƌƚŚĞƌ ^ƚƌĞŶŐƚŚĞŶƐ

15.9%

T ic k er

Vo lum e

P ric e C hg %

F ID ELIT YB K

2.12

5.0%

FCM B

6.6

4.9%

FCM B

2.36

4.9%

H ON YF LOUR

6.1

5.0%

P ric e

P ric e C hg %

T ic k er

Value

P ric e C hg %

H M A R KIN S

0.28

-6.7%

GUA R A N T Y

1616.7

4.0%

R OYA LEX

0.32

-5.9%

A C C ESS

1419.8

1.9%

UA C N

14.00

-4.8%

D A N GC EM

911.2

2.2%

F IR ST A LUM

0.42

-4.5%

Z EN IT H B A N K

533.3

4.0%

193.30

-4.3%

NB

469.0

5.0%

0.26

-3.7%

UB A

258.5

2.7% 4.8%

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

T o p 10 L o s e r s T ic k er

T OT A L SOVR EN IN S NP FM CRFB K

1.69

-3.4%

FB NH

136.7

VER IT A SKA P

0.29

-3.3%

WA P C O

57.5

5.0%

J A IZ B A N K

0.62

-3.1%

UA C N

56.2

-4.8%

LA SA C O

0.34

-2.9%

OKOM UOIL

46.9

5.0%

+PXGUVOGPV 4GUGCTEJ

$TQMGTCIG $\RGHML (ER _ DHER#DIULQYHVW FRP

5REHUW 2PRWXQGH _ URPRWXQGH#DIULQYHVW FRP

%RODML )DMHQ\R _ EIDMHQ\R#DIULQYHVW FRP

2PRWROD $ELPEROD _ RDELPEROD#DIULQYHVW FRP

41

˾ WEDNESDAY, JUNE 6, 2018

MARKET NEWS

Skystone Capital Promises Customers More Access to Financial Services Goddy Egene Skystone Capital and Investment Limited has commenced formal operations in the country following approval from the Central Bank of Nigeria(CBN). Speaking at the unveiling ceremony in Lagos, the Chief Executive Officer of Skystone Capital and Investment Limited, Mr. Olasukanmi Olabinjo, said: “Skystone Capital will provide increased access to financial services for Nigerians, especially microenterprises and small businesses that need access to

socially responsible financial services.” According to him, the company, formerly known as Nexus Credits, will create opportunity for millions of low-income entrepreneurs through innovative lending practices and client support.” “Client support is a very crucial part of lending to microenterprises and small businesses in order to have access to socially responsible financial services like what Skystone has to offer, so that they can take part in the economy and generate income,” he said. He explained that company

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

began operations in 2009 providing credit services to salary earners and small and micro-entrepreneurs. “Since inception, the business has developed innovative and high-quality operation methods that actively respond to the financial needs of its customers. At Skystone Capital, we aim to transform the livelihood of Nigerians through handholding our SME clients through stimulating entrepreneurship development while creating a rewarding and exciting work environment for its employees,”

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 4-June-2018, unless otherwise stated.

he added. Also speaking, the Head of Operations, Skystone Capital, Mr. Yusuf Shoetan, gave an insight of the uniqueness of what Skystone will offer in terms of quality and efficiency of service delivery to clients. “Think consumer and MSME financing, think Skystone, we are positioned to meet consumer and MSME’s financial challenges in less than an hour with less stringent documentations,” he said. Similarly, Head of Human Resources, Mrs. Doyin Elegbe

assured all stakeholders that Skystone Capital would be a shining example in the area of customer experience and also producing world class staff. The company is led by banking and finance professionals with over eight decades of combined industry experience and a passion for delivering financial services to the retail and MSME segment in Nigeria. The company explained in a statement that its management team has led leading financial institutions in Nigeria to deliver best customer service and

maximise value for shareholders. “With a vision to become a reputable financial solutions firm by 2025, Skystone management team is committed to providing global best practices in retail and MSME finance driven by innovative and technology to reach its target segments. The company was established on a unique value proposition that is a combination of operational excellence, product leadership and customer intimacy to fill the void left by incumbent financial intuitions in retail and MSME financing.

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 182.51 183.96 2.90% Nigeria International Debt Fund 244.99 246.48 6.22% 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 0.83 0.84 0.77% ACAP Income Funds 0.64 0.64 6.36% 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 13.20% 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 145.88 146.90 -3.83% AXA Mansard Money Market Fund 1.00 1.00 13.07% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund N/A N/A N/A Paramount Equity Fund N/A N/A N/A Women's Investment Fund N/A N/A N/A CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 13.39% 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 13.14% Coronation Balanced Fund 1.14 1.16 8.54% Coronation Fixed Income Fund 1.12 1.15 8.24% 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 1,159.91 1,160.61 1.06% FBN Heritage Fund 145.98 147.21 3.89% FBN Money Market Fund 100.00 100.00 13.12% FBN Nigeria Eurobond (USD) Fund - Institutional $113.41 $113.83 0.30% FBN Nigeria Eurobond (USD) Fund - Retail $113.29 $113.72 0.29% FBN Nigeria Smart Beta Equity Fund 170.08 172.67 4.75% 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 1.33 1.35 2.10% Legacy Debt Fund 3.05 3.05 5.65% 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 3,106.22 3,135.75 4.01% Coral Income Fund 2,623.91 2,623.91 7.22% 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 13.34% Nigeria Entertainment Fund 102.35 103.33 2.38% 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 12.89% Vantage Balanced Fund 2.19 2.21 3.66% Vantage Guaranteed Income Fund 1.00 1.00 15.53% Kedari Investment Fund (KIF) 119.39 119.74 3.80%

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 N/A N/A N/A Lotus Halal Fixed Income Fund N/A N/A N/A 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 13.26 13.34 1.01% Meristem Money Market Fund 10.00 10.00 11.60% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.34 1.36 12.58% PACAM Fixed Income Fund 11.70 11.77 6.07% PACAM Money Market Fund 10.00 10.00 12.71% 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 120.14 122.13 -6.76% 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 1.58 1.58 6.42% 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 2,334.57 2,353.28 4.07% Stanbic IBTC Bond Fund 185.69 185.69 5.24% Stanbic IBTC Ethical Fund 1.04 1.05 3.47% Stanbic IBTC Guaranteed Investment Fund 235.98 236.03 7.15% Stanbic IBTC Iman Fund 179.68 181.55 0.29% Stanbic IBTC Money Market Fund 100.00 100.00 12.45% Stanbic IBTC Nigerian Equity Fund 9,705.66 9,837.17 0.37% Stanbic IBTC Dollar Fund (USD) 1.09 1.09 3.23% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.35 1.36 0.96% United Capital Bond Fund 1.67 1.67 6.95% United Capital Equity Fund 0.94 0.96 2.50% United Capital Money Market Fund 1.00 1.00 12.51% United Capital Eurobond Fund 106.13 106.13 3.14% United Capital Wealth for Women Fund 1.13 1.14 4.04% 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 12.89 13.07 2.86% Zenith Ethical Fund 13.56 13.71 2.90% Zenith Income Fund 20.25 20.25 7.07% Zenith Money Market Fund 1.00 1.00 12.80%

REITS NAV Per Share

Yield / T-Rtn

11.41 135.86 51.22

1.01% 2.57% 0.77%

Bid Price

Offer Price

Yield / T-Rtn

11.78 146.74 108.71

11.88 149.79 110.69

-2.81% 2.71% -0.52%

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

4.74 8.55 17.28 18.16 146.91

4.78 8.63 17.38 18.36 148.91

0.03% -10.59% -1.27% -7.63% 7.25%

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.

42

T H I S D AY ˾ ʹ˜ ͰͮͯͶ

T H I S D AY ˾ WEDNESDAY JUNE 6, 2018

43

44

T H I S D AY ˾ ʹ˜ ͰͮͯͶ

T H I S D AY ˾ WEDNESDAY JUNE 6, 2018

45

WEDNESDAY, MAY 6, 2018˾ T H I S D AY

46

INTERNATIONAL

email:foreigndesk@thisdaylive.com

Iran Steps Up Pressure on Uranium Enrichment after US Pullout Iran said Tuesday it has launched a plan to boost uranium enrichment capacity with new centrifuges, raising the pressure on European diplomats scrambling to rescue the crumbling nuclear deal after Washington pulled out, according to Agence France-Presse. “If conditions allow, maybe tomorrow night at Natanz, we can announce the opening of the centre for production of new centrifuges,” said Vice-President Ali Akbar Salehi, head of the Iranian Atomic Energy Organisation, according to conservative news agency Fars. “What we are doing does not violate the (2015 nuclear) agreement,” he said, adding that a letter was submitted to the International Atomic

Energy Agency (IAEA) “yesterday regarding the start of certain activities”. He specified this was just the start of the production process and “does not mean that we will start assembling the centrifuges”. Under the 2015 nuclear agreement that Iran signed with world powers, it can build and test parts for advanced centrifuges, but specific restrictions exist on what technology can be researched and in what quantity within the first decade of the deal. Salehi also emphasised that these moves “do not mean the negotiations (with Europe) have failed.” European governments have been trying to salvage the nuclear deal ever since

the United States announced its withdrawal last month and said it would reimpose sanctions on foreign companies working in the Islamic republic by November. The remaining parties -- Britain, France, Germany, China and Russia -- have vowed to stay in the accord

but many of their companies have already started to wind down Iranian operations. On Monday, Iran’s supreme leader Ayatollah Ali Khamenei warned the Europeans that “Iran will never tolerate both suffering from sanctions and nuclear restrictions” and called for

preparations to speed up uranium enrichment. Iran insists its nuclear programme is for civilian uses only, but opponents in the US, Israel and Saudi Arabia accuse it of seeking to build an atomic bomb. Israeli Prime Minister Benjamin Netanyahu

reacted swiftly to Salehi’s announcement, charging that the Islamic republic’s aim was “unlimited enrichment of uranium to create an arsenal of nuclear bombs” to destroy his country. Under the 2015 agreement, Iran is permitted to enrich uranium to 3.67 percent.

Putin Says Russia Not Aiming to Divide EU President Vladimir Putin has insisted Russia is not trying to split the European Union, according to BBC. He was speaking hours before arriving in Austria, on his first trip to Western Europe in almost a year. He told Austrian ORF television he wanted a “united and prosperous” EU, calling it Russia’s most important commercial and economic partner. The pro-Putin United Russia party has close links with far-right parties in the EU, which alarms many liberals. The two populist parties now ruling Italy favour closer ties with Moscow and are both Eurosceptic. In his interview Mr Putin played down the links between United Russia and Austria’s far-right Freedom Party, the FPÖ. The parties have a co-operation agreement, but the FPÖ denies claims it has received money

from Moscow. The FPÖ has some key posts in Austria’s coalition government - it is in charge of the interior ministry and defence - and says it wants to get the EU sanctions on Russia lifted. However, the coalition has agreed to back EU policy on sanctions. Italy’s new government openly called for a review of EU sanctions on Tuesday, starting with those that “threaten civil society in Russia”. Prime Minister Giuseppe Conte told parliament in Rome that Italy was in favour of opening up towards Russia, which represented a key partner for Italian business. Russia’s annexation of Crimea in 2014 triggered the sanctions, later ratcheted up as Russia helped separatists i n e a s t e r n Ukraine, and relations with the EU remain frosty.

Only a Few of Guatemala Volcano’s Dead Have Been Identified People of the villages skirting Guatemala’s Volcano of Fire have begun mourning the few dead who could be identified after an eruption killed dozens by engulfing them in floods of searing ash and mud, The Associated Press reported. Mourners cried over caskets lined up in a row in the main park of San Juan Alotenango on Monday evening before rescuers stopped their work for another night. There was no electricity in the hardest hit areas of Los Lotes and El Rodeo, so most searching continued only until sunset. As dawn broke Tuesday, the volcano continued to rattle, with what the country’s volcanology institute said were eight to 10 moderate eruptions per hour — vastly less intense

than Sunday’s big blasts. Guatemalan authorities put the death toll at 69, but officials said just 17 had been identified so far because the intense heat of the volcanic debris flows left most bodies unrecognizable. “It is very difficult for us to identify them because some of the dead lost their features or their fingerprints” from the red-hot flows, said Fanuel Garcia, director of the National Institute of Forensic Sciences. “We are going to have to resort to other methods ... and if possible take DNA samples to identify them.” Authorities say at least 46 people were injured. Twelve shelters were housing 1,877 people.

Iran insists its nuclear programme is purely designed to meet its energy needs

AFP

US Pushes NATO to Ready More Forces to Deter Russian The United States is pressing European allies to ready more NATO battalions, ships and planes for combat, Reuters reported officials as saying, in a fresh move to shore up NATO’s deterrence against a potential Russian attack. US Secretary of Defence Jim Mattis will seek broad agreement for the plan in Brussels on Thursday when

alliance defence ministers meet, laying the ground for endorsement by NATO leaders at a summit in July, four US and NATO officials and diplomats told Reuters. The plan would require NATO to have 30 land battalions, 30 air fighter squadrons and 30 navy ships such as destroyers ready to deploy within 30 days of being put on alert,

although the proposal does not discuss specific troop numbers or a deadline for setting up the strategy. The size of battalions vary across NATO, from 600 to 1,000 soldiers. This lays down a challenge for European governments, pilloried by US President Donald Trump for slashing military spending after the Cold

War, to remedy longrunning problems with helicopters and jets that are grounded for lack of parts. “We have an adversary (Russia) that can move quickly into the Baltics and Poland in a ground attack,” said one senior N AT O d i p l o m a t w h o was briefed on the US plans.

Miss America Drops Swimsuits Portion, Won’t Judge on Looks The Miss America pageant is dropping the swimsuit competition, saying it will no longer judge contestants on their appearance but on “what makes you you”, according to The Associated Press. The pageant began nearly 100 years ago as a bathing beauty contest to keep tourists coming to this seaside resort after Labor Day. But in recent decades, women’s groups and others have complained that making contestants parade across the stage in bathing suits and high heels is out-

dated, sexist and more than a little silly. The announcement Tuesday came after a shake-up at the Miss America Organisation that resulted in the top three leadership positions being held by women. The overhaul was triggered by an email scandal last December in which Miss America officials denigrated winners’ intelligence, appearance and sex lives. “We’re not going to judge you on your appearance because we are interested in what makes you you,”

Gretchen Carlson, a former Miss America who became head of the organisation’s board of trustees in the wake of the scandal, said in making the announcement on ABC’s “Good Morning America.” Carlson, whose sexual harassment lawsuit against Fox News Chairman Roger Ailes led to his departure, said the board had heard from potential contestants who lamented, “We don’t want to be out there in high heels and swimsuits.” “Guess what?” she said.

“You don’t have to anymore.” In place of the swimsuit competition, contestants will participate in an interactive session with the judges “where she will highlight her achievements and goals in life and how she will use her talents, passion, and ambition to perform the job of Miss America,” the organisation said in a statement. Carlson said the evening wear portion of the competition will also be changed to allow women to wear something other than a gown if they want.

Hollywood Mogul Weinstein Pleads Not Guilty to Rape Charges Movie mogul Harvey Weinstein pleaded not guilty on Tuesday to charges of rape and sexual assault, Reuters reported his lawyer as saying, in the first cases involving the disgraced producer to be tested in criminal court since scores of accusers emerged last year.

More than 70 women have accused the Miramax film studio’s co-founder of sexual misconduct, including rape, in a series of incidents dating back decades. The accusations gave rise to the #MeToo movement, which has seen hundreds of women publicly accusing powerful

men in business, government and entertainment of sexual harassment and abuse. Weinstein, 66, left Manhattan Supreme Court without speaking to reporters. Defense attorney Benjamin Brafman and Justin Henry, a spokesman for the prosecutor, confirmed that Weinstein had

pleaded not guilty. “Mr. Weinstein has denied these crimes. He has never engaged in non-consensual sex with anyone,” Brafman told reporters. “As terrible a crime as rape is, it is equally reprehensible to be falsely accused of rape. In his view, he has been falsely accused of rape.”

WEDNESDAY, JUNE 6, 2018˾ T H I S D AY

47

NEWSXTRA

FG Uncovers Fraud in Amnesty Programme Ndubuisi Francis ÓØ ÌßÔË The federal government yesterday disclosed that it had uncovered large-scale fraud in the Presidential Amnesty Programme (PAP), alleging that it was fraught with irregularities in previous

deployment of delegates for educational programmes in some universities in the country. It disclosed that an alarming figure of students enrolled in universities under the PAP were not captured in the data base at the Amnesty Office. The Amnesty Office, in

a statement yesterday said the discovery followed a verification exercise ordered by the Special Adviser to the President on Niger Delta and Coordinator, Presidential Amnesty Programme, Prof. Charles Dokubo, on assumption of office.

A statement issued by Murphy Ganagana, Special Assistant (Media) to Dokubo said a committee set up to ascertain the number of beneficiaries of the Amnesty programme hitherto deployed to universities onshore for various educational programmes,

Lagos Shuts Five Banks, 80 Buildings over Illegal Conversion Warns against breach of building control regulation Gboyega Akinsanmi Officials of the Lagos State Building Control Agency (LASBCA) yesterday shut down five commercial banks and over 80 buildings on Allen Avenue, Ikeja over illegal conversion. The officials, who were accompanied by the Lagos State Environment and Special Offences Enforcement Unit, also shut Adebowale Electronics, Panasonic and several other buildings used for commercial purposes. The commercial banks, whose branches were shut down, are Zenith Bank Plc, Access Bank Plc, Sterling Bank Plc, Unity Bank Plc, and UBA Bank Plc. The operation began from Allen Roundabout all through

to the end of Allen on both sides of the dual carriageway around 7:45a.m, beginning with Tantalizer. The exercise was led by LASBCA Secretary, Mr. Tayo Fakolujo and a director in the Lagos State Physical Planning Permit Authority (LASPPPA), Mr. Kayode Daramola. At Zenith Bank, LASBCA officials drove out the customers and bank officials before sealing the premises, while at Unity Bank, the premises was sealed before it opened for business. The government said the affected buildings were giving approval for residential and were later converted for commercial purposes for which no approval was granted. The General Manager of

LASBCA, Mr. Lekan Shodeinde said the affected buildings had been issued notices over one month ago to come forward to regularise their documents and get commercial approval, but that only few property owners whose buildings had been converted to commercial purposes showed up. He said under the physical planning law, a residential property must obtain due permit before it could be converted to commercial, saying that it was inappropriate to convert a residential property to commercial. Shodeinde said LASBCA had been given the mandate to carry out audit on buildings in Lagos State for safety purposes and ensure that people did not take

laws into their hands. He said the government had also given six months grace period for people who did not have permit before erecting their structures to regularise them without paying the penalties for such violations. The LASBCA boss lamented that owners of properties served notices on Allen Avenue did not come forward to regularise their papers, hence the need to enforce the law for compliance purpose. According to him, government would no longer tolerate illegal conversion of residential properties to commercial without permit, as the law would descend heavily on those who trampled under the law.

discovered that an alarming data base of beneficiaries of the figure of students enrolled in Amnesty Programme to various universities under the PAP were universities within the country. not captured in the data base “Checks indicated that while at the Amnesty Office. a new university (identity “Against the backdrop of withheld) recently forwarded huge tuition fees forwarded a list of 62 pre-degree students to to the Amnesty Office for the Amnesty Office for payment payment by some universities of tuitions fees, the committee in the country for supposed discovered that only 14 of them beneficiaries deployed to the were captured in the data base institutions for study, Dokubo of beneficiaries of the Amnesty constituted a committee headed Programme,” the statement said. by the Head of Reintegration, According to Amnesty Office, Amnesty Office, Chief only 34 out of 201 first year Aroloyeteim Brown, to verify students at another new beneficiaries of the Amnesty university in the South-eastern Programme in local universities. part of the country were also “The committee was among cleared as beneficiaries in the others, mandated to ascertain Amnesty database. admission process of the “In the same vein, the names students into the various of 200 first year students out institutions; determine whether of a total of 290 sent to the the students are beneficiaries of Amnesty Office for payment of the Amnesty Programme, and, tuition fees by three universities if not, who was responsible for in the South-south (names their admission or deployment. withheld) could not be verified ‘It is also probing the disparity on the data base of beneficiaries. in tuition fees for students “The names of only 90 deployed by the Amnesty Office students from the three and others undergoing same institutions were verified. programmes at the institutions, “However, Dokubo is deeply and to ascertain if there had concerned over this worrisome been insider collaboration to development, especially pad fees of our delegates for the plight of the affected pecuniary interests. students and he is exploring “The committee which is measures to address the rounding off its assignment, has situation after meeting the however, uncovered large scale management of the affected fraud in previous deployment institutions,” the statement of delegates not captured in the concluded.

BRIEFING THE MEDIA ON UNWTO ACTIVITIES

L_R: Director, United Nations World Tourism Organisation (UNWTO),,Ms. Elcia Grandcourt; Minister of Information and Culture, Alhaji Lai Mohammed; Secretary-General, UNWTO, Mr. Zurab Pololikashvili; and Permanent Secretary, Federal Ministry of Information and Culture, Grace Isu Gekpe, at a joint press conference by the UNWTO Secretary-General and the minister in Abuja....yesterday

Buhari: Nigeria Safe and Secure for Tourism Omololu Ogunmade ÓØ ÌßÔË President Muhammadu Buhari yesterday in Abuja argued that Nigeria was safe and secure for tourism. Buhari who cited improved security and country’s burgeoning economy as the basis for his argument, made the claim while receiving Zurab Pololikashvili, the SecretaryGeneral of United Nations World Tourism Organisation (UNWTO) at the Presidential Villa. In a statement, Malam Garba Shehu, the president’s media aide, said the president recalled that four years ago, it was inconceivable to host an international tourism conference in Abuja because of security

concerns. ‘‘I am pleased that the country is now sufficiently safe and secure, and the message should go out to the world for all tourists and business travellers. The first thing tourists look out for is security and I am happy we have it now. ‘‘Minister of Information and Culture, Alhaji, Lai Mohammed has been trying to convince the world that Nigeria is safe and has great potentials for tourism and investment. I am glad that you and your team have come here to see things for yourself,’’ the president reportedly told the UN tourism chief, who is in Abuja for the 61st UNWTO Commission for Africa (CAF) conference. According to him, the

president highlighted the nexus between tourism and sustainable development, saying Nigeria would not be left behind in ensuring that communities and businesses benefit from tourism development. The statement also said Pololikashvili commended Nigeria for successfully hosting the conference which he said brought together African Ministers of Tourism, principal executives of the global tourism body and other stakeholders in the tourism sector. It quoted the UN tourism chief as telling Buhari that Nigeria had huge potential to develop the tourism sector considering its large economy. ‘‘We can do it in Nigeria, we can create, convert Nigeria to

the main tourist destination in Africa. There is a huge potential here. Culture, nature, food you have everything here. ‘‘You are investing in agriculture, improving seamless travel through

visa-on-arrival programme, reforming the economy and doing so much on security. Nigeria is safe,’’ Pololikashvili said. The statement also said the Information and Culture

Minister, Mohammed, noted that 166 delegates including 26 tourism ministers from Africa were attending the UN tourism conference which began on Monday and will end today.

Buhari Asks Govs to Work for APC Secretary’s Return Omololu Ogunmade ÓØ ÌßÔË President Muhammadu Buhari on Monday night in Abuja asked governors on the platform of the All Progressives Congress (APC) to mobilise delegates for the return of National Secretary of APC,

Alhaji Mai Mala Buni, at the forthcoming convention of the party later this month. A source privy to the information said following Buhari’s endorsement while breaking fast with the governors in the Villa last Monday night, Buni was set to retain his position. The source said Buhari

sought the governors’ support for Buni’s return following information he had that governors in the North-east states had endorsed him. He also said the Northeast to which the office was zoned had unanimously passed a vote of confidence in Buni.

WEDNESDAY, JUNE 6, 2018˾ T H I S D AY

48

NEWSXTRA

Ghana to Offset Legacy Gas Debt Owed Nigeria, Others by Year End Kachikwu: More gas being discovered offshore Lagos Chineme Okafor˿ÓØ ÌßÔË Ghana will try and pay off the legacy debt it owes Nigeria and two International Oil Companies (IOCs) for gas supplied to it through the West African Gas Pipeline (WAGP) framework before the end of 2018, THISDAY has learnt. This is just as the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, disclosed yesterday in Abuja that more gas resources were being discovered by Nigeria within its offshore oil and gas fields in Lagos. Speaking at the West African Gas Pipeline Project’s Committee of Ministers meeting, the Managing Director of West African Gas Pipeline Company (WAGPCo), Mr. Walter Perez, stated that Ghana had already paid a substantial amount of its debt to the gas suppliers and has said it would clear the balance by the end of 2018. Reports in April 2018, indicated that Ghana owed a whopping $160 million gas supply debt to N-Gas Limited, a company owned by the Nigerian National Petroleum Corporation (NNPC), Shell and Chevron, and which buys gas

from oil companies in Nigeria and transport to Ghana through the WAGP. N-Gas has an off-take agreement with Ghana to supply about 120 million standard cubic feet per day (mscuf/d) of gas to Ghana’s largest power firm, the Volta River Authority, but supplies had fallen short recently on account of the debt. Perez however, said: “I am happy to report that additional payments are currently in process. However, more work is needed to retire the debt. To this end, we are encouraged by the assurances given by the ministry that the legacy debt will be fully retired in 2018.” He said significant improvement had been recorded over the years by WAGPCo, the collective efforts of the committee was however still required to attain the promise for further regional integration in gas market. He explained that irrespective of the fact that a force majeure declared on gas supply was yet to be lifted, WAGPCo had been able to upgrade its compressor which led to a growth in its output from 70 million British thermal unit (BTU), per day, to 85 million BTU per day in 2018.

“However, the situation has significantly improved as a result of work completed by WAPCo in 2018 to upgrade our compressor station in Nigeria to operate at reduced pressures. As a result of this, we have been able to demonstrate the capability to transport over 85 million BTU per day. “In addition, this upgrade has allowed us to be more consistent in delivering gas to our customers despite variations in pressure at Itoki. With the imminent completion of critical infrastructure projects in Nigeria, it is our hope and prayer that force majeure will be lifted or the foundation value chain contracts restructured so that it will no longer be necessary to operate on a best endeavors basis,” added Perez. He said works on the Western Interconnection Project which would enable the WAGP to flow

gas from western offshore Ghana to the primary load center for power generation at Tema has progressed. According to him, over the last couple of months, engineering works and related procurement activities had progressed, leading to the execution of a construction management agreement with Eni, which would see the construction commencing at Tema and Takoradi imminently. He said: “Our industry is complex, dynamic, and evolving. It is a business in which we must be minded to have a long-term view of success, tempered by near term realities. This is why WAGPCo is currently working with WAGPA to redefine the tariff structure for the WAGP. “This is expected to promote increased utilisation and diversification of both supply and off-take. Doing so will also enable gas from the WAGP to

remain the fuel of choice in the West African sub-region. “believe deeply in the distinctive mission of the WAGP project and WAPCO’s role in the sub-region. I also believe that the future of the WAGP lies in trusting that all partners will commit to their fair share of responsibility to effectively carry forward the objectives and the strategies that will make this ECOWAS dream a reality.” In his remarks, Kachikwu stated that the new gas discoveries in Lagos offshore would in combination with the relative operational peace in the Niger Delta, boost Nigeria’s gas supply to WAGPCo. He said Nigeria along with the partner countries had nurtured the WAGP project and are looking at further addressing the challenges that had hindered its progress. The minister maintained that

Nigeria will continue to play her part in seeing that all the partners work together with the aspirations of the project to achieve a greater integration of the West African region. “The WAGP project is being celebrated all over Africa today as the flagship project for the New Partnership for African Development (NEPAD). Therefore, this project should be sustained with our cooperation from all parties. “On the part of Nigeria, I am pleased to be able to welcome you all at a point when the Niger Delta is stable and gas supply from Nigeria is becoming more assured and also when more gas resources are being discovered offshore Lagos, which could present more option of gas supply to the West African Gas Pipeline Project,” he explained.

Oil Thieves Behind Anti-JTF Protests, N’Delta Groups Allege Emmanuel Addeh ÓØ ÏØËÑÙË A coalition of Niger Delta groups yesterday maintained that the recent protests against the Joint Task Force (JTF), a special security outfit fighting criminalities in the region, was a case of highly placed oil thieves wanting to continue their sabotage of the Nigerian economy. While defending the Operation Delta Safe (OpDS) led by Rear Admiral Apochi Suleiman, the peace advocacy groups under the aegis of the Niger Delta Peace and Development (NDPD) vowed to unravel the identities of the big time oil thieves behind the protests. Mr. James Julius, (Rivers) Chairman of the coalition, alleged that the protest was a sponsored fight against the successes recorded by the JTF under Suleiman and his men in the region, noting that the outfit was restoring peace and reducing criminality in the region. According to the coalition, the existing peace in the region was due to the efforts of the military, which it said had brought the recent renewed agitation and attacks on oil infrastructure under control. “The military high command got it right and Suleiman, being an operational officer who spends most of his time in the creeks, has brought his naval tactics to check militancy. For eight months, there has been no reported incident in the region,” the group argued. It appealed to the Niger Delta

people to resist the temptation of becoming a tool of blackmail and accessory to oil theft and support the peace moves of the federal government aimed at repositioning the region as the oil and gas hub of the nation. “Under his watch, the Operation Delta Safe has uncovered an illegal arms manufacturing factory in Arhavwarien, Ughelli area of Delta State and recovered assorted weapons including 28 guns, cartridges and military equipment. “Our people who engage in arms struggle must see that we cannot achieve anything by violence; we need to lure investors who once operated here, that the investment climate is right for them to return. “Available data shows that since enhanced military operations began in the region in 2016, troops of the Operation Delta Safe, have recovered 1,389 heavy arms and 20,352 ammunitions. “Additionally, the Force has seized 105 tanker trucks, 228 other vehicles and 610 pumping machines as well as 76 generator and 5,842 other items used in facilitating illegalities. “Suffice to state that part of the Force’s efforts to deny criminals any freedom of action involves the destruction of their safe havens and the items used in perpetrating illegalities “The Force has in this process destroyed 1,437 illegal refineries, 795 wooden cargo boats, 3,872 metal surface thanks and 1,019 plastic tanks, 13,129 drums and 13,343 Jerry cans,” the group maintained.

PRESIDENTIAL RECEPTION

L-R: President Muhammadu Buhari; Ooni of Ife, Oba Adeyeye Ogunwusi Ojaja II; Emir of Gwandu, Alhaji Muhammad Bashaar; and Etsu Nupe, Alhaji Yahaya Abubakar, when the president hosted traditional rulers and religious leaders during the breaking of Ramadan fast in State House, Abuja....yesterday

Suspended SEC DG, Mounir Gwarzo, One Other Person Get N25m Bail Alex Enumah ÓØ ÌßÔË Justice Baba Yusuf of the High Court of the Federal Capital Territory (FCT), Abuja yesterday granted bail in the sum of N25 million each to the suspended Director General of the Security and Exchange Commission (SEC), Mounir Gwarzo, and a SEC Commissioner, Zakawanu Garuba. Both Gwarzo and Garuba were arraigned by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) on a fivecount charge of corruption and criminal breach of trust. While Gwarzo is being accused of using his position as DG to defraud the commission the sum of over N104million, Garuba was accused of approving the said illegal act.

They pleaded not guilty to the charges read against them and their counsel prayed the court to move their bail application. Counsel to the first defendant, A.U Mustapha (SAN), informed the court of Gwarzo’s application which he stated was filed on May 30,2018 and urged the court to grant his client bail. He assured the court that Gwarzo would not jump bail and would be available to face his trial. Mustapha also informed the court that the defendants are already on administrative bail and urged the court to consider the conditions of their administrative bail in granting their applications. On his part, counsel to the ICPC, Henry Emore, who confirmed that the defendants are on administrative bail, said he

is not opposed to the application, adding that the offences according to the ICPC Act are bailable. Delivering ruling on the applications, the court held that the offence are bailable and consequently granted them bail in the sum of N25 million each with two sureties in like sum. He held that the sureties must be civil servants working with the federal government and not below the rank of a Deputy Director. They should in addition possess landed properties in Abuja. The defendants are to submit their passports and can approach the court if the need arises. In the charge with suit no CR/185/18, the ICPC accused Gwarzo of committing the fraud in June 2015. The anti-graft agency said Gwarzo received over N104million as severance

benefit less than a month after his appointment. The suspended SEC boss was also accused of receiving over N10million as a ‘car grant’ contrary to Section 19 of the Corrupt Practices and Other Related Offences Act 2000. While the first three counts pertains to Gwarzo, the fourth and fifth relates to Garuba. One of the charges read: “That you, Mounir Gwarzo, on or about June 2015, while being the Director-General of SEC, received the sum of N104,851,154.94 as severance benefits when you had yet to retire, resign or disengage from the service of SEC; conferred a corrupt advantage upon yourself and committed an offence under Section 19 of the Corrupt Practices and Other Related Offences Act 2000.

WEDNESDAY, JUNE 6, 2018˾ T H I S D AY

49

NEWSXTRA

Bloodbath Averted as Topline Thugs Fight Navy over Pipeline Security Chiemelie Ezeobi

Chanting war songs and puffing into the air, these It was a close shave with death thugs were brandishing their yesterday at Ilashe off Ilade- guns, axes, matchetes and even Odo area of Atlas Cove, when charms, as they threatened to some thugs attached to Topline match the navy weapon for Security Outfit attempted to hold weapon. naval personnel and defence For over 45 minutes, they held correspondents at gun point. sway, and when the journalists The thugs who were attempted to leave before the purportedly private security situation becomes bloody, they thugs working with blocked off the escape routes, Topline Security to protect brandishing the guns at their Nigerian National Petroleum faces and threatening to shoot Corporation (NNPC) to them. supposedly supplement the Of course, their threats were efforts of the navy who are not taken lightly by the naval constitutionally backed to protect personnel, who quickly took such pipeline and oil facilities. positions by spreading out on The federal government had the plain grounds. in 2014 awarded the contract of Save for the coolheaded securing pipelines belonging to intervention of the Commander the NNPC to Topline, a private NNS BEECROFT, Commodore security company and they in Okon Eyo, a blood bath would turn sublet the contract to the have been recorded on both local security who went berserk sides, with the civilian reporters yesterday. inclusive. The operatives of the Although the navy’s intention Nigerian Navy Ship (NNS) was to take custody of over BEECROFT, had taken some 3,000 jerrycans filled with Defence correspondents from petroleum products recovered different media houses for an from suspected vandals, the on-the-spot assessment of the thugs refused. recovered petroleum products The products were said at the site. to have been siphoned by When the navy got to the suspected vandals from NNPC scene, hundreds of 25 liters pipelines that runs from Atlas jerrycans were stacked at the cove, Apapa to Ejigbo and centre in five sports utility Mosemi depots in Lagos and vehicles (SUV). Ogun States. However, the thugs, who When all finally got to the were obviously very high, safety of the navy base, the challenged the navy to a Commander, NNS BEECROFT, gun duel, threatening to gun Commodore Eyo, while everyone down and set the addressing the media on the recovered products ablaze. issue, said the navy was going

Crude Oil Price Nears One-month Low as US Asks OPEC for More Supply Ejiofor Alike áÓÞÒ ËÑÏØÍã ÜÏÚÙÜÞÝ Crude oil price neared onemonth low yesterday as supply concerns mount following a report that the United States government had asked Saudi Arabia and other major exporters to increase oil output. The global benchmark, Brent crude futures lost $1.19 to trade at $74.10 per barrel, having fallen earlier in the day to $73.81, the lowest since May 8. The US West Texas Intermediate crude fell eight cents to $64.67 per barrel. Bloomberg reported that the United States government has asked Saudi Arabia and some other members of the Organisation of Petroleum Exporting Countries (OPEC) to increase oil production by about one million barrels per day (bpd). The request comes after US retail gasoline prices surged to their highest in more than three years and President Donald Trump publicly complained about OPEC policy and rising oil prices. It also follows Washington’s decision to re-impose sanctions on Iran’s crude exports that had previously displaced about one million bpd from global markets, the report said. The OPEC meets in Vienna on June 22 to decide whether the group and non-OPEC producers, including Russia,

should raise output to make up for any supply shortfall from Iran and Venezuela. Saudi Arabia and Russia were already discussing raising OPEC and non-OPEC oil output by around 1 million bpd, sources familiar with the matter said on May 25. Global oil supply has tightened with the OPEC-led production cuts that began in early 2017. OPEC had on November 27, 2015, decided to pump as much as it could to defend market share, an action that sent the price of oil to a low of $27 per barrel in February 2016. But following the drop in oil price to an all-time low, OPEC and other major producers including Russia started to withhold output in 2017 to rein in oversupply that had depressed prices since 2014. OPEC’s main objective for the cuts is to eliminate a global surplus in oil stocks and re-balance the market. OPEC, together with Russia and a group of other producers, last November extended an outputcutting deal to cover all of 2018. The initial deal, under which OPEC and non-OPEC producers are cutting supply by about 1.8 million barrels per day, had expired in March 2018. Saudi Arabia and Russia have discussed boosting output to compensate for supply losses from Venezuela and to address concerns about the impact of US sanctions on Iranian output.

to meet with the management of NNPC to review the terms of engagement it has with Topline Security. Eyo said the navy was also going to ascertain if they are allowed to carry guns. He said: “You all saw what happened at Ilashe, a riverine community that plays host to an important NNPC facility. “The navy had conducted an aerial operation on Monday during which they sighted over 3,000 jerrycans loaded in vehicles. “With the aerial

reconnaissance, the navy decided to move in to ascertain the activities but the end of it was untold provocation. “Personnel of Topline security claim to have been awarded the contract of protecting the pipeline that runs from Atlas cove through satellite town to Enigbo, Mosemi and to Ilorin and other parts of the country. “You also witnessed the shameless attitude which their personnel put up. They were apparently trying to provoke the navy into taking actions. But ours is not to endanger the

lives of people and engage in needless casualty. “They say that they have the contract to secure the pipeline but we are going to meet with the management of NNPC to review the contract terms. “We also saw that they are carrying guns. We will also ascertain if they are allowed to carry firearms. The way they appeared today goes to show that they are not trained to carry guns.” But the commander of the thugs, identified himself as Tiamiyu Jeremiah aka JayJay,

who finally released the journalists on the promise of an interview, claimed the navy was preventing them from doing their job. In between shouts and threats to deal with all within sight, he said they want unfettered access to the pipelines. He said: “We are tired of the threats by the navy and other military operatives. They told us that they will deduct money from our salary if any product gets missing and we agreed, yet they won’t leave us alone.”

PUTTING HEADS TOGETHER

L-R: Senate President, Dr. Abubakar Bukola Saraki; Deputy Senate President, Senator Ike Ekweremadu; and Speaker, House of Representatives, Hon. Yakubu Dogara, during a joint session of the National Assembly in Abuja .....yesterday.

Court Refuses to Stop House from Probing Presidential Investigative Panel on Recovered Property Alex Enumah ÓØ ÌßÔË A Federal High Court in Abuja has refused to stop the probe by the House of Representatives of the legality of the Special Presidential Investigation Panel for the Recovery of Public Property. The presidential panel had through a counsel from Festus Keyamo’s chamber, Mr. John Aineto, prayed Justice Tsoho to grant an interlocutory injunction (temporary order) to stop the House from beaming the searchlight into the legality of its establishment and the functions assigned to it. But delivering ruling on the

motion, Justice Tsoho ordered the presidential panel to put the House on notice on the pendency of the suit and for the two parties to face each other before him to present their cases. While turning down the request to stop investigation into the presidential panel, the court held that justice would not be manifestly done until the suit before him is heard on merit. The contention of the presidential panel, headed by Mr. Okoi Obono Obla was that the House of Representatives lacked the constitutional powers to look into its legality.

The panel claimed that having been constituted by President Muhammadu Buhari and assigned functions to discharge, the House cannot under any law seek to challenge its functions. The House had on March 22 passed a resolution seeking to authenticate the legality of the presidential panel under the 1999 constitution. This was followed with a letter to the panel, requesting for the instrument or gazette establishing it, its annual budgetary allocation, the membership and composition of the panel along with their curriculum vitae and certificates.

The House also mandated the panel to forward to it, operations and actions of the panel since inception, list of investigations so far carried out, nominal roll of its staff and the list of all the seizures effected from inception. Reacting, the panel approached the court for an order of interlocutory injunction to stop the lawmakers from going ahead to investigate or probe its legality. Justice Tsoho however refused to grant the order of the interlocutory injunction against the House and instead, directed the panel to put the House on notice to appear before it on June 25.

NERC Commences Review of Electricity Tariffs Chineme Okafor ÓØ ÌßÔË The Nigerian Electricity Regulatory Commission (NERC) yesterday said it had commenced the process of reviewing electricity tariff that would be used by distribution companies (Discos) in Nigeria for the next five years, which is between 2019 and 2023. The commission said in a statement from its Head of Media Unit, Mrs. Vivian Mbonu, in Abuja that the process would commence with the review of the Performance Improvement Plans (PIP) to be submitted by the Discos. It added that the process would ensure that the eventual

tariff to be charged would be fair to stakeholders in the market. It also explained that it had not jettisoned its Multi Year Tariff Order (MYTO) framework as recently reported in the media, adding that it had however begun a review of the MYTO financial model to ensure its integrity and consistency with extant realities in the country’s electricity industry. “Following recent inaccurate reports in the media, the Nigerian Electricity Regulatory Commission hereby reaffirms that there are no plans to dump the Multi Year Tariff Order (MYTO) framework used in determining end-user tariffs based on revenue requirement

of the electricity industry. “As part of the periodic evaluation of software models utilised by the commission, the commission plans to review the MYTO financial model to ensure its integrity and consistency of the platform with approved tariff principles pursuant to the numerous updates undertaken since inception of the methodology in 2008,” said the statement. Additionally, NERC said: “The holistic review of the MYTO model also includes aligning the basic assumptions and parameters with the underlying principles of the tariff methodology and ascertaining the full workability of the macros

and other formulae. “This is an important initiative of the commission as we prepare to commence review of Performance Improvement Plans (PIP) to be submitted by utilities for the tariff period 20192023,” NERC explained, noting that: “The commission will continue to use the MYTO as the framework for determining tariffs, and in line with the provisions of the EPSR Act 2005, ensure that prices charged by licensees are fair to consumers and are sufficient to allow licensees recover the efficient cost of their business activities whilst earning a reasonable return on the capital invested in the business.”

WEDNESDAY, JUNE 6, 2018Ëž T H I S D AY

50

NEWSXTRA

Herdsmen Kill Five Civilians, Three Policemen in Fresh Attack in Taraba, Nasarawa Wole Ayodele Ă“Ă˜ Ă‹Ă–Ă“Ă˜Ă‘Ă™

Five persons were killed and several others injured as herdsmen launched attack on Dan-Anacha and Dinya villages in Gassol Local Government Area of Taraba State. This is as the Nasarawa State Police Command yesterday confirmed that three policemen had been killed by suspected herdsmen at Maraban-Udege village in the Nasarawa Local Government Area of the state. The attack, which started at Dinya at about 4p.m. last Monday, spilled to Dan-Anacha in the early hours of yesterday and continued till about4.30a.m. THISDAY investigations revealed that the attack occurred following a disagreement over ownership of a farmland which the herdsmen claimed had been sold to them by a traditional ruler in the area. However, the villagers, who are mainly of Tiv extraction, claimed that the contentious land has been their farmland for decades and wondered why anybody or group would claim to have sold or bought it.  Confirming the incident to journalists, the Police Public Relations Officer (PPRO), David Misal, said five people were killed in the attack and several others sustained serious injuries

while several houses were also set ablaze. According to Misal, security personnel have been deployed to the area to restore normalcy but lamented that the attackers had fled before the arrival of security men. “The attackers stormed the villages and burnt down several houses and in the process, five people were killed and several others sustained varying degree of injuries. “We deployed our men to the area, but unfortunately, the bandits fled before the arrival of the police but our men shot and killed one of them who was trying to escape with valuable items,� he said.  The PPRO however maintained that the area is now calm following the quick response of the police just as he insisted that the situation in the area has been brought under control. Meanwhile, he Public Relations Officer of the Nasarawa State Police Command, Samaila Usman, told journalists in Lafia that the three policemen killed were ambushed on June 3 on their way to quell a crisis between Agatu farmers and herdsmen. Usman said, however, that the command had mobilised a reinforcement team, led by

an assistant commissioner of police to fish out the killers of the policemen. He said the corpses of the policemen, an inspector, a sergeant and a corporal had been recovered and deposited at a morgue. The spokesman did not disclose the names of the dead policemen. The state and the neighbouring Benue, described as the food basket of Nigeria, have witnessed recurring deadly attacks by herdsmen. The development has raised concerns that Nigerians may contend with hunger in the near future because of the

inability of farmers to cultivate their farms, due to incessant attacks by herdsmen. However, Governor Umaru Al-Makura had commiserated with the police over the latest killings. He stressed the need for residents in the state to bury their differences and work for peace and harmonious co-existence. Al-Makura also tasked leaders of Egbura and Bassa ethnic groups to end the crisis between the two groups in the Toto Local Government Area of the state, which according to him, has left scores of people dead and many communities

destroyed. He blamed leaders in the area for not doing enough to resolve their differences to nip the skirmishes in the bud. “I must say I blame the elites of both tribes for what is happening in these communities and they must take responsibility for this carnage. “This is because, if we have elites who are patriotic, who want peace and stability and elites, who have the feeling and interest of the people at heart, they would have come together to find solution to the crisis. “You have lived, schooled and worked together as brothers and sisters in the same local

government area. What is it that is so difficult to amend in terms of social interaction? “I am challenging all the elites that it’s high time you all realised the kind of danger you are putting the people by fanning the embers of hatred and enmity, which will not augur well for the development of the local government area. “If you as elites do not sit together on the drawing board to ensure amicable and mutual solution and build confidence between the two tribes, you are sowing a seed that will destroy all of you.�

Court Stops AGF, NDLEA from Extraditing Kashamu to US Alex Enumah Ă“Ă˜ ĂŒĂ&#x;ÔË Justice Babatunde Quadri of the Federal High Court in Abuja yesterday restrained the Attorney General of the Federation (AGF) and the National Drug Law Enforcement Agency (NDLEA) from taking further steps in their alleged renewed plot to extradite Senator Buruji Kashamu to the United States. Justice Quadri gave the order while delivering ruling on an ex-parte application filed by the senator. The judge in his ruling particularly ordered parties to maintain the status quo pending the determination of the substantive suit marked: FHC/ABJ/CS/530/18 filed by Kashamu. The judge also granted the applicant leave to serve processes in relation to the suit, including the originating summons on NDLEA outside the jurisdiction of the court at 4 Shaw Road, Ikoyi, Lagos. Kashamu’s counsel, J.O. Odubela (SAN), in arguing the application, said his client resorted to seeking the court’s protection upon being informed that the respondents have renewed plans to extradite his client to the US. He said the applicant has been able to established that if the court did not intervene and protect him by restraining the defendants from  abducting, arresting or detaining him with the intention to extradite him, his rights would have been breached before the hearing of his substantive suit. Odubela added: “We have showed that the applicant had even been tried in England and

exonerated. Our contention is whether in view of the judgment of the court in England, the FG or any of its agencies can still request the US to file a fresh request for the extradition of the applicant.� Upon enquiry from the court, Odubela said the Court of Appeal gave judgment on May 4 this year and reversed the judgment by the Federal High Court, Lagos, prohibiting Kashamu’s extradition. He said the Court of Appeal, in reversing the judgment, noted that there was no evidence that the AGF and NDLEA were taking steps to effect his extradition as at when the judgment was given. Odubela added: “We have also appealed to the Supreme Court and filed a motion for injunction. Despite that, they (the defendants) have gone ahead to tell the US government that the case on the matter is over and that they can make fresh request for his extradition.� He said but now, there are actual evidence of steps being taken by the defendants to extradite the applicant. Odubela tendered a certified true copy of Punch newspaper of May 13, 2018 where it was reported that federal government has demanded for fresh US request for the extradition of the applicant. He added that two days after the judgment of the Appeal Court, an official of the NDLEA, Shehu Abubakar, told his client that plans were at advance stage to have him arrested and taken to the US within a week. The judge subsequently adjourned to September 24 for hearing of the substantive suit.

EMINENT JURISTS L-R: Chief Justice of Nigeria, Justice Walter Onnoghen; Administrator, National Judicial Institute (NJI), Justice Rosaline Bozimo; Professor Niyi Ayoola, during the fourth annual judges workshop on the Nigerian Gas and Power Sector in Abuja...yesterday

Govt Must Obey Court Orders, Says Babalakin Davidson Iriekpen “Nigeria will not have the kind of judiciary it desires, unless the government begins to adhere to the rule of law and obey court judgments.� These were the words of the Pro-Chancellor and Chairman, Governing Council, University of Lagos (UNILAG), Dr. Wale Babalakin (SAN), during the 2018 Annual Lecture of the Faculty of Law, UNILAG. He was the chairman of the occasion.  The lecture, titled: ‘The Rule of Law as Panacea for Peace, Security & Good Governance in a Democracy’, was delivered by the Chief Justice of Nigeria (CJN), Justice Walter Onnoghen. Babalakin, who agreed with the CJN’s position that “it is quite discouraging that the rule of law has overtime been disregarded in Nigeria and successive administrations have continued to show total disdain for its development,� said the rule of law cannot thrive in the absence of an independent judiciary. He said: “We are still struggling to convince the entire society that it is to our mutual benefit that we have adherence to the rule of law. I am relatively young in the system, but I have

seen successive governments pay lip service to the rule of law. They emphasise the rule of law when they are in the opposition and capitulate as soon as they are in government. Without the judiciary standing firm under the leadership of justices including the current CJN, only God knows where we would have been as a nation. “We have seen arbitrariness of the highest order. We have seen total disdain for others’ rights that are totally untenable. We cannot have the sort of judiciary we desire unless we make it a collective assignment.� Babalakin praised the “primas� of the 1999 Constitution, noting that it has placed enormous responsibilities on the judiciary “and has done it explicitly�. He said until the 1999 Constitution was put together, there was no constitution that “expressly� conferred the right to investigate the legislature and the executive to ensure that they were acting in compliance with the constitution besides the Constitution of the Federal Republic of Nigeria. He explained that judicial review, which is being celebrated today, was created by inference and not by express provision in the case of Madbury vs

Madisson in the United States. The businessman, who is the Chairman of The Resort Group of Companies, said: “We have it as an express provision and so we must jealously guard it. Anytime the courts refuse or surrender jurisdiction lightly, the courts are not only violating the intendment of the constitution; they are actually avoiding the express provision of the said constitution. I commend, so far, the federal institutions. We still see that there is a serious semblance of the rule of law, no matter how weakened or threatened. The courts are still standing up and giving decisions, no matter whose ox is gored. I cannot say that about the state governments.� Insisting that a democratic government must not only obey the law but also obey court orders, the Senior Advocate of Nigeria said: “We have commissioned a study now on cases involving governments that have gone before the state high courts. The reports we are getting are terribly alarming. The state judiciaries are surrendering gradually to the overwhelming presence of the executive and legislature of the states. This is the harbinger of anarchy and totally against the rule of law.

 “For those of you who will soon find yourselves in power, please do not shout rule of law when you are out of power and abandon it when you become powerful as we have seen with a lot of people today.� Babalakin called for improved remuneration for judicial officers and a well-funded judiciary. He noted: “Having imposed these enormous responsibilities on the judiciary, we lawyers must campaign seriously for a well-funded judiciary.  In the 70s, the salary of a judge in the old Western Region was 3,400 Pounds. The salary of the Governor of the Central Bank of Nigeria (CBN) was 2,700 Pounds. A High Court judge earned far more than the CBN governor because of the enormous responsibilities the country appreciated it had placed on the High Court judge. Today, there is no judge in Nigeria that earns the salary and allowances of the deputy governor of the CBN. The time has come for us as lawyers to campaign for proper funding and proper remuneration since we appreciate the fact that enormous responsibilities have been placed on judicial officers.�

51

WEDNESDAY, JUNE 6, 2018˾ T H I S D AY

NEWSXTRA

Oloyede: NSCIA Making Effort to Secure Leah Sharibu’s Release The Secretary General of the Nigerian Supreme Council for Islamic Affairs (NSCIA), Prof. Ishaq Oloyede, yesterday, said the council had reached out to the Boko Haram sect in a bid to negotiate the release of Leah Sharibu, the Christian girl still being held in captivity by the insurgents. Oloyede, who is also the Registrar/Chief Executive of the Joint Admissions and Matriculation Board, also warned religious leaders across Nigeria to desist from promoting crisis in the society, calling for peace and harmony between Christians and Muslims in Nigeria. The NSCIA secretary general spoke while delivering a lecture titled: ‘Achieving Peace, Stability and Good Governance in a Multi-ethnic and Multi-religious Society’ at The Point Newspaper’s Annual Ramadan Lecture, held at the premises of the Lagos Television, Agindingbi, Ikeja,

Lagos. He noted that NSCIA began negotiations with some members of the Boko Haram sect before the recent threat by the Christian Association of Nigeria that there would be religious war if Sharibu should die in the captivity of the insurgents. The insurgents had abducted 110 students on February 19 and released them a month later, with the exception of Sharibu and five other students who died in captivity. Sharibu was reportedly held back for refusing to renounce her Christian faith and has since remained in captivity. Oloyede, however, disclosed that the Muslim body had already reached out to the insurgents and promised to help to secure an amnesty for the members of the sect, if they set Sharibu free. He, therefore described the threats by CAN on the matter as unnecessary, uncalled for

and counter-productive to the negotiations for Sharibu’s release from captivity. Oloyede said: “The unfortunate abduction of Leah and other girls, both Muslims and Christians, is intensely hurtful to all right-thinking persons. I am aware that the particular case of Leah made the leadership of the NSCIA reach out to all possible channels of reaching the group with a proposal to secure amnesty for the group provided Leah and other girls in captivity are released and the group surrenders their arms. This knowledge made the careless threat particularly painful. “The Christian Association of Nigeria (CAN) recently escalated the state of insecurity with its threat that should Leah Sharibu die in captivity of Boko Haram, there would be religious war!!!

“I am as astonished as the Sultan of Sokoto and President-General NSCIA who recently expressed shock at the destructive and counterproductive statement. “Boko Haram has never hidden its mission of setting Nigeria ablaze through a religious war. Whose interest was the call to serve? Definitely, not that of the innocent Nigerian Lady, Leah Sharibu. Is it fair, religious or Godly to, for the sake of political grandstanding and publicityseeking, endanger the life of such a precious, principled and promising lady? “I am sure the immediate family members of the lady would not subscribe to such politicisation of the misfortune.” The NSCIA secretary general expressed regret that religious leaders in the country had derailed from the ways of God.

Oloyede, therefore, enjoined religious leaders in Nigeria to make concerted efforts to properly guide their followers in order to enhance peace and unity of the country. “It is time religious leaders in this country knew that playing politics with religion will amount to serious punishment from God. Most clerics today, manipulate things in their favour, hence disturbing the peace of our society. This is not limited to any religion; it goes to both Christian and Muslim leaders in this country. Look at the Benue crisis for instance, some religious leaders were quick to relate it to religious war, and this can lead to war. Likewise, the case of Leah, was also tagged to be a religious issue. All these will not improve, but amount to crisis in our society,” he said. Earlier in his welcome remarks, the Baba Adeen of

Yorubaland, Edo and Delta states, Chief Sarafa Tunji Isola, said the term “Islamic terrorism” used in certain quarters was a misnomer and part of the efforts to paint the Islamic religion in bad light. Isola described Islam as a religion of peace, which ensures justice for all human beings. Dignitaries at the Ramadan lecture included the representative of the the Mudeer, Markaz, Habeebulah Adam Al-llory; the President, Muslim Ummah of S/West Nigeria, and Vice President General, Nigeria Supreme Council for Islamic Affairs, Chief S.O.B Babalola; the immediate past Registrar, APCON, Nigeria, Alhaji Bello Kankarufi; the Chief Executive officer/Editor in Chief of Daily Trust Newspapers, and the National Amirah, The Criterion, Alhaja Fatymah Yewande Oyefeso, among others.

Stick to Demand for Restructuring, Ibori Tasks South-south Govs Sylvester Idowu in Warri Former Governor of Delta State, Chief James Ibori, yesterday tasked the governors of the South-south states to stick to their demand for restructuring of the country. Ibori gave the advice at the inauguration of multi millions projects in some parts of Delta State by the Bayelsa State Governor, Sierake Dickson, who was the guest of the Delta State Governor, Ifeanyi Okowa. The former governor who commended the efforts of Okowa’s administration to transform the state, urged the governors of the region not to back out of their demand for the restructuring of the Nigeria. “Carry on with the battle for the restructuring of the country to the finishing line,” Ibori said. “It is worthy to state that governors of the region, few weeks ago, at a meeting in Port Harcourt, Rivers State, stated that “everyone is aware of the ongoing clamour for devolution and a return to essential founding principle of this great country and we, in our meeting, resolved as we have been speaking over sometime that we associate fully with the clamour for restructuring, true federalism and devolution of powers that are so concentrated at the centre to the federating units. “We have agreed to support ongoing moves in that direction by working with like-minded Nigerians who mean well for the country so that we can all have a stable, prosperous and peaceful country. “While we are not against the withdrawal of $1 billion from the Excess Crude Account (ECA) by the federal government for national

security, we believe that such should be done by adhering strictly to constitutional provisions of paying 13 per cent derivation,” the Southsouth governors said at the end of the meeting. Speaking while inaugurating some projects scattered in two local government areas of the state, Chairman of South-south Governors’ Forum, Dickson, described Okowa as prudent manager of resources. Dickson inaugurated road projects at Jesse, Ethiope West Local Government Area and the multi-billion naira Sapele Market in Sapele Local Government Area of the state. The market has 1, 532 shops, developed shoreline and four jetties. According to him, “This is an international market, we are overwhelmed by the quality of projects you have executed, we have seen the wonderful roads you have constructed. “These are special projects that will touch the lives of the people, improve their economy and the economy of Delta State.” While paying glowing tribute to Okowa’s administration, he asserted that “Okowa came at the time of recession, and we have heard about what he is doing in the state, and today, we are witnesses, I wonder what Deltans will see in his second term.” Okowa, at the event, thanked God for making the project inauguration exercise a reality, disclosing that the projects were initiated by Ibori’s administration. “Every good project that was started by previous administration must be completed. We will not have uncompleted projects in the state,” the governor assured the people.

RAMADAN LECTURE

L-R: Baba Adeen of Yorubaland, Edo and Delta States and former Minister of Mines and Steel Development, Chief Sarafa Tunji Isola; Guest Lecturer/Secretary General, Nigerian Supreme Council for Islamic Affairs, Prof. Ishaq Oloyode; and General Manager/Group Head, Business Development, BUA Group, Mr. Tajudeen Ahmed; and Veteran Actor/Movie Producer, Alhaji Adebayo Salami, during The Point Newspaper’s First Annual Ramadan Lecture, in Lagos... Monday

Thani, Enikanolaye Lead Dignitaries to Ogidi Day Communication specialist, Mr. Tunde Thani and a retired Federal Permanent Secretary, Ambassador Sola Enikanolaye, are among dignitaries expected at the Ogidi Day Festival holding in Ogidi, Ijumu Local Government Area, Kogi State on June 16, 2018. Thani, who is the Managing Director of Explicit Communications Ltd, a Lagos based integrated marketing communcations company would be the Chairman of the event while Enikanolaye, the immediate past Permanent Secretary, Ministry of Foreign Affairs would serve as the special guest of honour. The Governor of Kogi State, Alhaji Yahaya Bello, who will be the chief guest of honour is expected to declare the festival open, while the world renowned batik artist and Yeyeoba of Ogidi, Mrs. Nike Okundaye will present

the new yam to the Ologidi. The Ologidi of Ogidi, Oba Rabiu Oladimeji Sule will also on the occasion, confer chieftaincy titles on Thani, the Administrator of Ijumu Local Government Area, Alhaji Taofiq Isah and a Lagos-based banker, Mr. Victor Alewo Adoji The National President, Ogidi Development Union (ODU), Mr. Kayode Eniolorunda, in a statement said the new Olujumu of Ijumu, Oba Segun Ayeni will serve as the royal father of the day while a distinguished son of the community and Oliha of Ogidi, Chief Abiodun Ehindero will be the father of the day. A long standing friend of the community and National Publicity Secretary, Peoples Democratic Party (PDP), Mr. Kola Ologbondiyon, who will be presented with an excellence in service award will be the

most honoured guest at the festival. Eniolorunda said the best of Ogidi culture would be on display at the festival, which is held in June every year to commemorate the coming of the new yam. Visiting troupes from Ondo, Edo, Benue and Plateau States will also treat guests to various cultural displays at the event

tagged Nigeria’s biggest culture event in June. Eniolorunda said the community would at the event launch aN250 million fund for the reticulation of water in the town, provision of an ambulance and power generating set at the cottage hospital and the construction of a new community centre in the town.

Towe Passes on Mr. Pearce Emurohwofadeyaro Towe is dead. He died on May 1, after a brief illness at his residence in Warri, Delta State. A statement issued by the family noted that he is survived by his wife, children, grandchildren, great-grandchildren and relatives. The statement also noted that until his death, he was foremost technical education

specialist; he was the pioneer Programmes Director of the National Board for Technical Education (NBTE), Kaduna, where he was responsible for the smooth running of the academic programmes of polytechnics, colleges of education and colleges of agriculture. Burial arrangements would be announced later by the family

WEDNESDAY, ͞˜ ͺ͸͚΀ Ëž T H I S D AY

52

WEDNESDAYSPORTS WORLD CUP COUNTDOWN‌

Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com 0811 181 3083 SMS ONLY

8 D AY S T O G O

Eagles Target Win against Czech Rep in Last Friendly Duro Ikhazuagbe Super Eagles players and their handlers have set sight on victory today as Nigeria takes on Czech Republic in the last warm-up game in Austria before heading to the World Cup in Russia. Kick off time is 2pm Nigerian time. With tough Group D opposition with countries like Croatia, Iceland and perennial nemesis, Argentina at the Mundial kicking off in eight days from today, Eagles need the victory to rev up their morale. Technical Adviser of the Super Eagles, Gernot Rohr, admitted at the team’s pre-World Cup camp inAvita Resort in Bad Tatzmannsdorf, Austria, that a win is the ultimate target this afternoon. “We will go for victory that would boost spirit and earn team confidence ahead of our first match in Russia. It would not be an easy pick but we will work hard for it,� observed the Franco-German gaffer. The game is holding against a backdrop of consecutive losses in friendly matches against Serbia and England with Nigeria’s first match of the FIFA World Cup against Croatia only nine days away. Earlier, Eagles defeated Argentina and Poland in their first two friendly games of the preparation for the battle in Russia. Their only draw was against DR Congo. Super Eagles Midfielder, Oghenekaro Etebo also said

Eagles battle-ready for Czech yesterday that the friendlies have sort of prepared the team for the opposition to face when the World Cup begins. “The friendly games we have played have exposed us to so many things and also made us better,� he noted in an interview

with a news agency from Russia. “We are in a tough group but we won’t be cowed by Argentina and Croatia big names. We are here to make our nation proud and we will achieve that,� the former Warri Wolves player concluded. Wednesday’s encounter at the Rudolf Tonn Stadium

– a multi-use facility in Rannersdorf, a city in the subdivision of Schwechat, outside Vienna - will be the third official meeting between both Nigeria and Czech Republic. Nigeria and then Czechoslovakia drew 1-1 in a group phase match at the 1980 Olympics in Moscow, with

Vizek scoring for the Czechs in the first half and Henry Nwosu equalising for the Eagles with six minutes left on the clock. Nigerian forward Emmanuel Osigwe had a goal from a long range free-kick disallowed. The Czechs edged their second meeting in Rabat on

11th December 1996 by two goals to one – as part of the King Hassan Cup Tournament.

Nigerian football fans will today have another opportunity to watch the Super Eagles prepare for the World Cup in their pretournament clash with Czech Republic. The match will be broadcast live on SuperSport 3 and SuperSport 9 on DStv and on SuperSport Select 1 on GOtv beginning at 1:50pm. Managing Director, MultiChoice Nigeria, Mr. John Ugbe said yesterday that the company is delighted to air the international friendlies live to Nigerian fans as this will provide them the opportunity to gauge the World Cup preparations of the Super Eagles as well as those of other teams competing in the tournament. “Football fans are

eagerly anticipating the commencement of the World Cup and MultiChoice Nigeria is delighted to help Nigerians keep tabs on the Super Eagles and other teams by airing their friendly matches on SuperSport,� he said. Other international friendlies to be broadcast live on DStv include England vs Costa Rica on Thursday, June 7, on SuperSport 3, SuperSport 13 and SuperSport 14 at 7:45pm; Germany vs Saudi Arabia on Friday, June 8, on SuperSport 3 at 6:15pm; and Poland vs Chile on the same day on SuperSport 13 and SuperSport 14 at 7:30pm. On Saturday, June 9, fans will have the chance to

watch Sweden play Peru. The match will air live on SuperSport 13, SuperSport 14 and SuperSport 3 at 6:00pm, while on Sunday, 10 June, Austria will take on eternal World Cup favourites, Brazil. The match will be shown live on SuperSport 13, SuperSport 14 and SuperSport 3, at 2:45pm. The last match of the international friendlies will be on Tuesday, June 12, when Poland will take on Lithuania. The match will air live on SuperSport 3 at 4:45pm. With the 2018 FIFA World Cup only a few days away, customers will be able to enjoy all 64 games on six dedicated SuperSport channels on all DStv

packages. MultiChoice Nigeria  also promised that GOtv subscribers will also enjoy all 64 World Cup games on GOtv Max and GOtv Plus packages while GOtv Value customers can view a total of 56 World Cup games. “Customers can also expect pre and post-match analysis from world class football experts, curated magazine shows on SuperSport and for the first time, pidgin commentary from seasoned local commentators. “Don’t miss the football extravaganza. Visit www. dstv.com and www. gotvafrica.com to subscribe and join in on the World Cup excitement, only on DStv and GOtv,� Ugbe concluded.

INTERNATIONAL FRIENDLIES Nigeria vs Czech Rep (2.00pm) Belgium vs Egypt   (7.45pm) Norway vs Panama (8.00pm) Belarus vs Hungary (8.00pm)

Unseeded Italian Shocks out Djokovic Nigeria vs Czech Republic Friendly Live on DStv, GOtv from French Open Novak Djokovic is out of the French Open after Italy’s Marco Cecchinato beat him to reach the semi-finals in a huge shock in Paris yesterday evening. Djokovic, 31, saved three match points and missed three set points before the world number 72 finally won 6-3 7-6 (7-4) 1-6 7-6 (13-11). Cecchinato, 25, had never won a main-draw match at a Grand Slam before this year’s Roland Garros. He will face Austria’s Dominic Thiem in the last four. Their meeting on Friday means there is guaranteed to be at least one first-time Slam finalist. Seventh seed Thiem reached his third Roland Garros semi-final with a straight-set win against Germany’s second seed Alexander Zverev, who also struggled with injury. Cecchinato, who was banned for match-fixing in 2016 before having the suspension overturned, is the first Italian to reach a Grand Slam semi-final since 1978. Djokovic had been building momentum at Roland Garros over the past 10 days, dropping just one set on his way to a joint record 12th quarter-final - even though he had not been considered among the pre-tournament favourites. An elbow injury has limited his playing time over the past year, seeing him drop down the world rankings to 22nd and receiving a lowly seeding in Paris as a result.

Still, few saw this defeat coming against a outsider who the Serb had regularly practised with at home in Monte Carlo. In their first tour-level meeting, Djokovic was the overwhelming favourite to reach his first Grand Slam semi-final since the 2016 US Open. But he paid the price for a slow start in which he hit only three winners in the first set and failed to make a dent on Cecchinato’s serve. Eventually he began to improve as a compelling quarter-final turned into the best match of the tournament so far. Ultimately, Djokovic missed opportunities at key moments - particularly in that deciding tie-break - and leaves some wondering if the former world number one will ever return to the heights of his previous dominance. Before his run at Roland Garros, Cecchinato was a player who many tennis fans had only previously heard of because of an 18-month ban he received in 2016 for match-fixing. It was later reduced to 12 months and then completely overturned - allowing him to continue playing on the ATP Tour. He has refused to talk about the issue at Roland Garros, instead preferring to concentrate on the tennis - which, at times, was stunning against Djokovic.

Iran is First Team to Land in Russia

Iran became the first team to arrive in Russia yesterday as it touched down at 20:26 local time at Moscow’s Vnukovo International Airport for the 2018 FIFA World Cup Russia “Being in Russia is a dream come true for Iranian football. We have achieved this dream through lots of hard work and sacrifices, which only heightens how honoured and privileged we feel to be here. The Iranian national team will relish rubbing shoulders with the best teams in the world and being part of this fantastic World Cup family. “We arrive raring to keep this dream going for as long as possible and we

look forward to playing our part in making this the best World Cup ever. We would like to send our greetings to all the other teams and their fans, particularly the people of Russia, who will be hosting the competition. We wish you all a great World Cup,� said the team’s Head Coach, Carlos Queiroz. Iran’s base for the tournament will be the Lokomotiv Bakovka Training Centre in the Moscow region, and the team will play it’s first match on 15 June against Morocco at Saint Petersburg Stadium. Iran was the first Asian team to book its place at Russia 2018. This is the

fifth time the Iranians have qualified for the world finals. Their previous

appearances at football’s showpiece event came in 1978, 1998, 2006 and 2014.

Divided Nigerian Supporters Unite for Eagles The divided Nigeria Super Eagles Supporters’ Club have now come together as one and they will be cheering the country’s team to victory at the World Cup in Russia as one big, happy family. Speaking to www. scorenigeria.com.ng the Chairman of one of the factions, Vincent Okumagba, said, “We have one interest and as such we are going to the Mundial as one body.�

“We now have board of trustees chaired by the President General, Rafiu Ladipo, while I am the secretary to the board, which has nine members who would oversee the activities of the supporters’ club in Russia.� The reunited Super Eagles supporters club are now due to fly out to Russia next week having already received their fan IDs.

T H I S D AY ˾ WEDNESDAY, JUNE 6, 2018

53

WEDNESDAYSPORTS WORLD CUP COUNTDOWN…

8 D AY S T O G O

Iceland supporters set to rock Russia 2018 with thunderclaps

Iceland Supporters Fired up for Thunderclaps in Russia It wasn’t just the footballers that put themselves on the map at the European Championship in France two years ago - the “thunderclap” performed by Iceland’s fans provided some of the most memorable moments in the stands. With their faces painted in the red, white and blue tones of the Icelandic flag and plenty of Viking imagery, they provide loud and colourful support to a team punching way above its weight on the international stage. “It’s amazing, the support was so huge,” goalkeeper Runar Runarsson told Reuters. “From my family, from my friends, from people I don’t even know, the support is huge. They’re so happy.” Set to face Argentina, Nigeria and Croatia, Iceland has a tough task to make it

out of Group D in their debut World Cup. But, regardless of the results, the tiny nation and its colourful fans are guaranteed to make an impact in Russia. An inhospitable climate and the smallest population of any World Cup nation have failed to dampen Iceland’s burning desire to make history at this month’s tournament in Russia in their own unique way. What other national team coach, for instance, addresses the fans in a local bar before a home international, as Heimir Hallgrimsson did before Iceland’s recent game against Norway? For good measure, Norway coach Lars Lagerback, who led Iceland on their glorious Euro 2016 odyssey that ended in a quarterfinal defeat by hosts France after knocking out England, also turned up

W O R L D C U P FA C T S … *Attendance 200 of the 736 players summoned to Russia have been to the FIFA World Cup before. 186 were at Brazil 2014, 61 were at South Africa 2010, 21 were at Germany 2006 and one was at Korea/Japan 2002: Rafa Marquez, who will become just the fourth man to go to five editions of the tournament after Antonio Carbajal, Lothar Matthaus and Gigi Buffon. Márquez *Leagues 100 per cent of England’s players are based in their national league. The Three Lions are followed by Russia (21/23) and Saudi Arabia (20/23). Senegal and Sweden, on the other hand, didn’t pick a single player from their domestic championship, while Belgium, Iceland, Nigeria and Switzerland selected only one apiece. Seventy-four per cent of the players at Russia Ezenwa 2018 are based in Europe. *Age 19 years and five months is the comparatively old age that makes Australia winger Daniel Arzani the youngest player at Russia 2018. Femi Opabunmi (17 and two months), Theo Walcott (17 and three months), Christian Eriksen (18 years and four months) and Fabrice Olinga (18 years and one month) were the youngest players to go to the 2002, 2006, 2010 and Arzani 2014 World Cups. The average age of the 736 players – almost 28 years old – is the oldest in the tournament’s history. *Club Reps 16 players make Manchester City the bestrepresented team at Russia 2018. The English Premier League champions are followed by Real Madrid (15), Barcelona (14), Chelsea, Paris Saint-Germain and Tottenham Hotspur (12). England is the base for the most players (124), followed by Spain (81) and Germany (67). Aguero * Germany and Spain 9 members of Germany’s Brazil 2014-conquering squad have been selected by Joachim Low this time around. Among those to miss out were Benedikt Howedes and Christoph Kramer, who started the Maracana Final, and Andre Schurrle and Mario Gotze, who combined for the only goal in it. Vicente Del Bosque took 16 of Spain’s South Africa 2010 winners to Low the next World Cup.

to assist in continuing the tradition. Despite sub-zero temperatures that make it virtually impossible to grow grass on pitches for much of the year, the game is thriving in the Nordic island nation. With a modest population of about 340 000, the country’s

men’s team is ranked 22nd in the world, with the women three places better in 19th. The previous smallest country to have reached the World Cup finals was Trinidad & Tobago in 2006, with 1.3 million people. “Our training is the whole year outdoors, and we have

very strong kids,” coach Freyr Sverrisson told Reuters as he kept a watchful eye on young players during a session at the Haukar Hafnarfjordur club south-west of Reykjavik. The club also offers basketball, handball, skiing, karate and chess, but football is fast becoming the dominant

sport, especially with widespread investment in full-size indoor pitches and outdoor astroturf surfaces. “Soccer was always very popular, but after the Euros it’s getting bigger,” says Sverrisson, who coached the country’s Under-16 team from 2002 to 2016.

Eagles Can Shock the World, Says Onyeka A Lagos-based grassroots football promoter, Arthur Onyeka, has declared that a well motivated Super Eagles can rule the world in Russia. Onyeka who is the financier of Arthur Great FC an amateur league side said he is not one of those who believe reaching the second round or even the semi final would be worth celebrating.

He said Eagles would go all out for the trophy if the players are well motivated by the federal government. Onyeka commended the nation’s soccer governing body, the Nigeria Football Federation (NFF) for a fine build-up with quality friendlies played by the Super Eagles leading to Russia 2018. “The nation’s number one

citizen met the players before they left for England. I want President Muhammadu Buhari to do a follow up by promising the players something special if they bring the Cup home. Let the federal government give the players the full assurance that they won’t suffer for the rest of their lives if they get injured while playing for Nigeria. “If the players get that

kind of assurance, they will go all out and do the country proud. I don’t think we should be gunning for anything less than the trophy. When Sebastian Broderick and his boys won the FIFA Under-17 World Cup in China, nobody gave them the chance. Who says we can’t do it at the senior level if the boys are well motivated?” Onyeka queried.

Special Olympics Nigeria Set to Host 2018 National Games Special Olympics Nigeria, an affiliate of Special Olympics International, has scheduled its 2018 National Games that coincides with the 50th anniversary of the global movement to kick off on Sunday 10th June at Teslim Balogun Stadium Surulere, Lagos. At a press briefing in Lagos yesterday to announce programmes for the National Games, Chairman of Board Special Olympics Nigeria, Victor Osibodu, said that

the event which holds every four years as its tradition with the Olympic Games, will have 240 athletes from 14 states in attendance. Tagged “Create Inclusive Communities”, it will give participants comprising of 240 athletes from 14 states of the federation a unique opportunity to be part of an inspiring yet impactful experience. Athletes are expected to compete in six-Olympic-type sports featuring Badminton,

Football, Basketball, Table Tennis, and Athletics for a chance to represent Nigeria at the 2019 Special Olympics Games in Abu Dhabi. According to the Chairman: “It was quite amazing for us at Special Olympics Nigeria because this year marks the 50th anniversary of Special Olympics as a global organisation since 1968. Our unified soccer team will represent Nigeria and Africa at a Unified Soccer Cup holding July 17thto 21st 2018

in Chicago, USA.” He also expressed his appreciation to the Lagos State Government, The Lagos State Sports Commission, Coca-Cola Nigeria, Vigeo Holdings, Max International, Print Studios, ExxonMobil, Channels Television, Nikky Taurus, Kings Breakfast, Sightique Ophthalmic Laboratory, and The Temple Management who are sponsors of this year’s event for their continuous support.

Access Bank Reaffirms Commitment to UNICEF Charity Polo Tourney The 2018 edition of the prestigious Access Bank-UNICEF Charity Shield Polo tournament is scheduled to hold at Fifth Chukker Polo & Country Resort, Kaduna, between Monday, June 18 and Sunday, June 24, with 15 teams vying for honours in three cup categories, organisers of the event said at a press conference in Lagos yesterday. Revered as the biggest charity and sporting attraction in Nigeria and perhaps on the African continent for years, the 2018 edition promises to be the most competitive and exciting with a record number of entries with international stars from around the world on parade. Executive Director, Personal Banking, Access Bank Plc, Victor Etuokwu, who confirmed the tournament date at a media briefing in Lagos yesterday, said the bank will continue to maintain its yearly commitment in supporting UNICEF towards its projects for orphans and vulnerable children. He noted that Access Bank and Fifth Chukker had over the years been supporting UNICEF and empowering people in Maraban Jos community and its environs in Kaduna in a pivotal commitment

that has continually been lauded by the public. Etuokwu who led other top officials of Access Bank to the media event, expressed delight that the Access Bank UNICEF Charity Shield is achieving its main objective of reaching out to the less privileged children in the society. “We have been working in Kaduna, in collaboration with Fifth Chukker Polo & Country Resort and UNICEF to elevate quality of lives. We need to do a lot more in support of these orphans and vulnerable children to enable them look forward to a better tomorrow,” he added. Marketing Manager of Fifth Chukker, Hafsat Ambursa said special food and entertainment fares have been added to the event this year, to make it more exciting. She also disclosed that cuisines from Senegal, Ghana, South Africa, Argentine and host Nigeria would be exhibited during the week-long charity polo fiesta. Campaigns for the glittering Access Bank Cup and the low-goal UNICEF Cup promise to be an exciting experience with regulars

and debutants bracing for fierce games in a potentially explosive confrontations that may remain tight up till the very final day of the grand fiesta. Defending champions, Leighton Kings who are seeking their second Charity Shield title, will have their hands full as they battle two former finalists,

Abuja Rubicon and KeffiPonys for the continental polo crown. So far, more than N100 million has been raised during the charity event, for underprivileged children in northern Nigeria and this has been hailed as a huge achievement for a sporting partnership.

Right Academy, Phonix Lift MRS Kids Cup Right Football Academy and Phonix Football Academy have both won the boys and girls 2018 MRS Kids Cup at the Campos Mini Stadium, Ajele, Lagos last weekend. Right Academy of Lagos Mainland came from a goal down to beat River Football Academy of Yaba 2-1 in the boys final. Phonix Football Academy of Iganmu trounced Victory Queens of Ikorodu 3-1 in the girls final. Prizes and awards were later presented to winners with the eventual winner going home with N300,000, runners-up N250,000 and third placed teams got N200,000 in both categories. Jubril Azeez of Right Academy was voted the Most Valuable Player(MVP) of the tournament, Rilwan Yusuf of also Right Academy won the best

goalkeeper and Edmund Idowu of River Football Academy won the highest goal scorers award with six goals. The Managing Director/Chief Executive Officer of MRS Oil Nigeria Plc, Andrew Gbodume, expressed satisfaction over the performance exhibited by all participating teams. “I’m highly expressed with all the players, with this performance I believe the future of football in Nigeria is in the grassroots and also urged the players to focus on their education to run sideby-side with football”, Gbodume said. Ex-Internationals, Peter Rufai and Augustine Eguavoen were part of the dignitaries that watched the final. Rufai described the MRS grassroots development tournament as a laudable gesture.

54

T H I S D AY ˾ ʹ˜ ͰͮͯͶ

T H I S D AY ˾ WEDNESDAY JUNE 6, 2018

55

Wednesday June 6, 2018

TR

UT H

& RE A SO

N

Price: N250

MISSILE AITEO to Suleiman

“For someone who professes to lead a security entity whose principal objective is to engender community safety and protection, this disposition suggests abject insensitivity and a total lack of responsibility, issues presumably at the top of the list of those seeking a change to JTF’s leadership.” – Aiteo distancing itself and its chief executive officer, Benedict Peters from allegations by the JTF Commander of Operation Delta Safe, Rear Admiral Apochi Suleiman that the company is behind his travails.

KAYODEKOMOLAFE THE HORIZON

kayode.komolafe@thisdaylive.com

0805 500 1974

Every Inch of the Territory Must Be Governed

H

orrifying news issued again on Sunday from Benue, the troubled state in the middle belt. Armed herdsmen struck, killing 19 persons in In Tse Adough in Kwande Local Government Area of the State. Among those killed were six children. A pregnant woman was among those kidnapped while scores of others were injured. In one day, a total of 31 persons were reportedly killed in Benue. The killings in Benue were among several others reported in different parts of the country in the few days of this month alone. In Zamfara only three local governments are said to be spared of the reign of terror mounted on the state by bandits. Similarly, Birnin Gwari and some other parts of Kaduna state have been virtually turned into killing fields. Despite the claims of decimation of Boko Haram by the military authorities sporadic attacks by the insurgents are still reported in the northeast. Similar killings have been reported in other states in all the zones. Nigeria is not officially at war. Indeed, the government has not yielded to strident calls for the declaration of a state of emergency in some parts of the country. Yet, there is hardly any day that killings are not reported in one part of Nigeria or the other. Bloodletting hits the headlines almost all the time. In fact, on April 30, this newspaper published a timeline of killings reported since January in the middle belt alone (THISDAYLIVE+https://www.thisdaylive.com/index.

php/2018/04/30/901-killed-in-middle-belt-since-january/). Kidnappers, armed robbers, invaders, marauders and other criminals operate on the highways and in the rural areas. To be sure, the parts of the federation where these endless killings take place cannot be said to be governed in the true sense of the word. This is a categorical challenge to the Nigerian state. As the Commander-in-Chief met with defence and security chiefs yesterday, the spectre of an ungoverned territory doubtless hovered over parts of Nigeria. The public imagination is possibly that the President would tell the security chiefs that this state of affairs is simply unacceptable. You would expect that marching orders were issued. If what the President told the security chiefs was not reported, at least the perspective of the defence minister, Brigadier-General Mansur Muhammed Dan Ali, has been made public. A grim portrait of the security situation in some parts of the country is embodied in a statement entitled “‘Minister of Defence’s Intervention at the Security Council Meeting...” Among other things, the statement by Defence Spokesman Colonel Tukur Gusau, puts the security picture as follows: “The minister drew the attention of the council to the incessant killings and kidnappings by armed bandits and criminal activities across the northwest which is becoming alarming and worrisome

“He mentioned the Abuja-Kaduna expressway as a source of concern as there were still recorded incidences of kidnappings within the period under review. “He also stated that the upsurge in incidents of security concern in Zamfara state is quite disturbing and calls for more robust approach to tackling the threat. “The situation is characterized with killings and kidnappings by armed bandits and criminal elements predominantly in Anka, Maru, Kaura Namoda and Talata Mafara LGAs of the state. “In the North Central, the incidents of herdsmenfarmers clash in Benue and Taraba states have reduced considerably. Several arrests have been made in connection with the killings and destruction of properties by own troops in conjunction with other security agencies…” Politicians in their different formations are busy with the calculuses of the 2019 elections. They worry about the integrity of elections as they push for the expansion of the democratic space. All these objectives and other political imperatives cannot be accomplished in an environment of insecurity. To ensure the sociopolitical order is a greater imperative. The security of the country should not be made a matter of partisan tirades because of the primacy of the issues involved. It is dangerous for the collective well being to play politics with the security of the country. In the battle against the killers, the Commander-in-Chief must be seen to be truly in command while he should be supported by all regardless of political and other differences. You cannot

honestly talk of credible elections in an ungoverned territory. Farmers chased way from their lands cannot be expected to cast votes freely and fairly in their wards during elections. Elections should ordinarily be festivals of democracy. But that is only possible in a secure atmosphere for the candidates and the electorate. Again, the matter is squarely that of governance. Not only must every inch of the territory of the Federal Republic of Nigeria be governed, it must also be seen to be so by the people. The security question becomes more urgent by the day. So also is the socio-economic question of development. Mass poverty and joblessness (among other factors) provide the breeding grounds for the bandits. It is not for nothing that the constitution of Nigeria defines governance as the “security and the welfare” of the people. The impression must not be given unwittingly that the Nigerian state cannot tackle the bandits and other criminals killing and making the land unsafe. The criminals on the prowl should be massively disarmed. Disarmament should be part of the strategy in the face of dangerous flow of arms. The justice sector should wake up to its responsibilities and ensure that the killers arrested are duly prosecuted. The nation should be better policed. Intelligence agencies ought to be a step ahead of the killers invading villages. No part of the territory of Nigeria should be surrendered to killers under any circumstance.

Akanbi: A Salute to Integrity Issa Aremu

A

t 86 Hon. Justice Mustapha, Akanbi, CFR, PCA (Rtd) Wakili of Ilorin, former President Court of Appeal and pioneer Chairman of Independent Corrupt Practices Commission (ICPC), died in Ilorin on Sunday. May Almighty Allah shower him with the abundant blessings of the Month of Ramadan! Akanbi brought to bear dignity, courage and honour both at the bar and the bench spanning decades. His globally acknowledged courage, patriotism, pan-Africanism and above all compassion for human advancement are worthy of celebration. The cliché is “not how long, but how well.” Remarkably, it’s been well, worthwhile and long for Justice Akanbi with an impactful life for which as a devout Muslim he was ever grateful. Nigeria and indeed Africa truly lost a selfless, hard and smart -working, incorruptible and generous statesman! As the founding Chairman of the ICPC, in keeping with the mandate of the Commission to apprehend public graft in 2003, ICPC intensified its searchlight on the activities of senators among other public officers. Some senators under the leadership of Senator Pius Anyim moved to weaken the ICPC through a belated review of its enabling Act in a way that would insulate senators from accountability and prosecution. As part of the NLC delegation led by Comrade Adams Oshiomhole (then NLC President) at the public hearing on the proposed amendment of ICPC Act, I bear witness to the remarkable way the retired Justice Akanbi eye ball to eye-ball resisted legislative intimidation and made a case for anti-corruption at the chambers of the Senate. He stood his ground. He maintained that any attempt to tamper with the ICPC Act means truncating the anti-corruption crusade. He was even determined to resign his chairmanship of the Commission rather than allowing the Commission to be compromised by the legislators. The public sympathy was in favour of Akanbi-led Commission, largely on the account of the integrity of the Chairman. Within a short spell, with uncommon maturity, balance, objectivity and determined systemic approach rare among public appointees, he mainstreamed ICPC from nowhere as an institutional bulwark against public graft.

Justice Mustapha Akanbi Notwithstanding the limitations of resources and political hostility, ICPC under him investigated and arrested some judges of the High Court, customary court and Sharia court for collecting bribes. The judges were eventually dismissed by the NJC. To the credit of his legendary modesty Akanbi bowed out of the Commission in 2005, even when he had the right of tenure extension. Here Akanbi shared the great value of resignation with great leaders like Nelson Mandela of South Africa and Julius Nyerere of Tanzania. Akanbi like Mandela actually stepped down when many actually admired them. On retirement, he set up the Mustapha Akanbi Foundation (MAF). Inaugurated in Ilorin, Kwara State on 12th of September 2006, MAF is adding value to national discourse. Out of simple and enduring noble objective to serve as “…a veritable platform for promoting democratic values and fostering sustainable and viable democratic development in Nigeria”, MAF has left bold imprints in areas of Education, Human empowerment, Health, Anti-corruption campaign and Good governance. The value adding activities of Mustapha Akanbi Foundation (MAF) are unquantifiable. MAF is an enduring signature in the art of giving back to the community. President Muhammadu Buhari administration commendably initiated the Conditional Cash Transfer Programme benefiting millions of the most vulnerable and poorest Nigerians paid N5, 000 monthly stipends under the social investment scheme. However unknown

to many what the Federal Government just adopted as a state policy is what Justice Mustapha Akanbi as non-state activist through his foundation had been doing in retirement in the past ten years. In the age of elite greed and elitist state capture of national commonwealth, we must posthumously salute Justice Mustapha’s art of generosity and giving to the aged, the sick and disabled. His Foundation catches the youth positively young via reading and writing skill acquisitions in public secondary schools. The Foundation truly acts local without losing sight of the national and global high profile public agenda setting lectures. The 11th Annual lecture of the Foundation was a tribute to him at 85. I had the honour of delivering the lecture entitled Challenges For Nation Building: Ways Forward, sharing similar platform with great scholars such as Professor Ibrahim Agboola Gambari, who delivered the 2008 lecture on Challenges of Nations Building: The Case of Nigeria, then as Under-Secretary-general and special adviser to the UN Secretary-General and Professor Attahiru Jega. The best tribute to the late icon is to keep the MAF legacy alive. My encounter with the late judicial titan dated back to my activism as a university student and later as an activist journalist. Akanbi is an acknowledged judicial officer with integrity, in the process of adjudication on the bench even under a hostile military regime. Following the brutal murder of four ABU students in 1986 by Mobile special Police on the order of the university authority led by Professor Ango Abdulalhi, students crisis erupted which degenerated and assumed national dimension under the regime of General Ibrahim Babangida. ASUU, NLC and NANS were united in protest against the Abisoye Panel set up by the regime to whitewash the administrative mess of Ango Abdullahi leadership of ABU. Crisis of confidence rocked the Abisoye panel compelling the regime to set up a more credible judicial commission headed by Justice Mustapha Akanbi. His commission restored confidence such that National Association of Nigeria’s Students, (NANS) and other civil society organizations freely and confidently participated. The perception was that with Justice Mustapha on the bench, there would be justice for all. The Commission’s problem solving (not

persecution methodology) characterized by openness allowed for free expressions. The high point was the courageous sensational testimony of the intelligent police officer, Alozie Ogbubuaja, who freely offered suggestions on students-police relations with a call for the improvement on the conditions of service of the police in general. He made a case for reform of the police and made his historic damning remark on “pepper soup” and “coup plotting”. Former Honorable Minister of Communication and Information, Labaran Maku, (then NANS PRO) owes his university graduation from Jos to the historic sense of justice of the commission’s findings, which were reformist not punitive as the military regime desperately desired. Curiously the military junta never made the findings of the Akanbi panel public. To understand Akanbi’s tremendous contributions to jurisprudence, national and continental development we must also come to terms with his profound ideological and historical grounding dating back to the progressive ideas of Kwame Nkrumah of Ghana in the 40s and 50s, Sekou Toure of Guinea and Julius Nyerere of Tanzania. Akanbi’s contribution has shown that spiritual/ideological/ political consciousness is indispensable for lawyers to maintain and sustain integrity both at the bar and on the bench. We recall with nostalgia ideologically conscious lawyers like late Aka Bashorun, late Gani Fahemihin. Femi Falana and others are building on that radical legacy. A visit to the Africa’s Peoples Hall, the Head Quarters of MAF in Ilorin says it all; an inventory of the consciously arranged portraits of the great African Leaders and trade unionists from Kwame Nkrumah to Nelson Mandela, Gamel Nazer to Tom Mboya, Patrice Lumuba to Sekou Toure will attest to the ideological preferences of the role model, Akanbi. With uncommon valuable service, he aged gracefully not withstanding the burden of illness. His voice was loud to the end on national issues such as state police and independence of anti-corruption agencies underscoring his intellectual clarity and commitment. Akanbi was a living library of progressive and spiritual ideas for the younger generation.

NOTE: The rest of this article continues in the online edition of THISDAY: www.thisdaylive.com

Printed and Published in Lagos by THISDAY Newspapers Limited. Lagos: 35 Creek Road, Apapa, Lagos. Abuja: Plot 1, Sector Centre B, Jabi Business District, Solomon Lar Way, Jabi North East, Abuja. All Correspondence to POBox 54749, Ikoyi, Lagos. EMAIL: editor@thisdaylive.com, info@thisdaylive.com. TELEPHONE Lagos: 0802 2924721-2, 08022924485. Abuja: Tel: 08155555292, 08155555929 24/7 ADVERTISING HOT LINES: 0811 181 3086, 0811 181 3087, 0811 181 3088, 0811 181 3089, 0811 181 3090. ENQUIRIES & BOOKING: adsbooking@thisdaylive.com