Tuesday 17th July 2018 by THISDAY Newspapers Ltd

Flood Kills 44, Destroys 500 Houses in Katsina Scores missing, 260 livestock dead Francis Sardauna in Katsina No fewer than 44 persons were feared dead and scores missing as flood wreaked havoc in 10

communities in Jibia Local Government Area of Katsina State on Sunday night. Some of the communities badly affected by the flood

were Kwata, Dantudu, Sabuwar, Tukare, Tsohuwar Tukare and Ungwar Mai Kwari. According to the District

Head of Jibia, Alhaji Rabe Rabi'u, who confirmed the development to THISDAY yesterday in a telephone interview, while on an

assessment tour of the affected areas, said the incident was “highly devastating.” “As I speak to you, we discovered the corpses of 25

persons, including mothers and children and many are missing. Over 260 cows, sheep Continued on page 6

IMF Raises Nigeria’s 2019 Growth Forecast to 2.3%… Page 8 Tuesday 17 July, 2018 Vol 23. No 8489. Price: N250

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Ortom Quits APC, Akume Eyes Senate Presidency APC settles for direct primary for Osun State guber contest Iyobosa Uwugiaren, Omololu Ogunmade, Onyebuchi Ezigbo and James Emejo in Abuja Governor Samuel Ortom of

Benue State yesterday said he had left the All Progressives Congress (APC), following what he described as “a red card” given to him by some powerful forces within

the party. The governor’s exit, THISDAY gathered yesterday, was part of an elaborate political intrigue, shaping the future of the ruling party as its

leaders, particularly in Benue State, position for the spoils of anticipated victory of the APC at the impending 2019 presidential election. At the root of Ortom’s

ordeal, it was learnt, was his erstwhile godfather, Senator George Akume’s, ambition to clinch the Senate Presidency in the event of the incumbent, Senator Bukola Saraki’s, exit

from the party. Saraki along with House of Representatives Speaker Yakubu Dogara are believed Continued on page 6

Southern Leaders’ Flight Denied Landing Permit, Nwodo Warns Nigeria Sliding into Dictatorship Middle-Belt leaders insist on restructuring Deji Elumoye in Abuja and George Okoh in Makurdi The President-General of Ohanaeze Ndigbo, frontline Igbo Socio-cultural group, Chief John Nwodo, yesterday warned that some recent actions of the federal government showed that the country was sliding into dictatorship. Nwodo spoke at a news conference in Abuja, where he said that a chartered flight that was to take some Southern leaders to Makurdi for a rally was refused landing permit at the Benue State capital. With him at the news conference, were, First Republic Information Minister, Chief Edwin Clark; former Governor of Anambra State,

Dr. Chukwuemeka Ezeife; and Afenifere Leader, Chief Ayo Adebanjo. The leaders were billed to attend the Middle Belt Forum’s rally on restructuring in Makurdi. Nevertheless, the rally held with the Forum’s leaders restating their belief in the total restructuring of Nigeria. "We were told at the airport that our chartered flight has no permit to land in Makurdi,” he said, adding that upon inquiry, they were told that the directive not to allow their plane to land in Makurdi was from above. According to him, "We were at the airport in Abuja as early as possible to get a Continued on page 6

Crude Oil Price Drops to $73 amid Tight Supply, Outages... Page 6

AFRICA’S BEST DIGITAL BANK... L-R: Managing Director, Euromoney, Mr. John Orchard; General Manager, Energy Bank, Mr. Ebele Ogbue; Group Managing Director/CEO, United Bank for Africa Plc, Mr. Kennedy Uzoka; and a member of England’s 1966 World Cup winning team, Sir Geoﬀ Hurst, at the Euromoney Award for Excellence, where UBA Group was conferred with Africa’s Best Digital Bank award, in London…recently

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Crude Oil Price Drops to $73 amid Tight Supply, Outages Ejiofor Alike with agency reports Barely a few days after crude oil price surged towards $80 per barrel, following the shut down of one oilfield in Norway and Libya reduced production by more than a half, the price slipped yesterday to $73 per barrel as Libyan ports reopened, while traders eyed potential supply increases by Russia and other oil producers. The disruptions of crude oil production in Libya and Norway had added to the supply worries around the world. Venezuela’s production had collapsed as a result of a lack

of investment, while Iranian exports suffered due to United States sanctions. US President, Donald Trump, said in May that he would remove his country out of an international accord under which Tehran had agreed to limit its nuclear development in exchange for sanctions relief. Trump said he would reintroduce sanctions and Washington later told countries they must stop buying Iran’s oil from November 4 or face financial consequences. The Organisation of Petroleum Exporting Countries (OPEC) has little capacity to fill the gap as demand for oil quickens.

But despite the tight supply, the global benchmark crude, Brent fell $1.69 to a low of $73.64 per barrel, before recovering a little to trade around $73.80, down $1.53. Also the US’ West Texas Intermediate (WTI) light crude was down $1.15 at $69.86 per barrel. Indeed, supply outages in Libya, a labour dispute in Norway and unrest in Iraq all helped push oil prices higher late last week, although prices still fell for a second straight week. Saudi Arabia, other members of the OPEC and allies, including Russia agreed last month to increase output to

dampen price gains and offset global production losses. The market has grown concerned that if Saudi Arabia offsets the losses from Iran that will use up global spare capacity and leave markets more vulnerable to further or unexpected production declines. Russia and other oil producers could raise output by one million barrels per day (bpd) or more if shortages hit the market, Russian Energy Minister, Alexander Novak, told reporters last Friday. “If we need more than one million bpd, I don’t rule out that we can quickly discuss it and make a quick decision,”

he said. Production at Libya’s giant Sharara oilfield was expected to fall by at least 160,000 barrels per day (bpd) after two staff were abducted in an attack by an unknown group, the National Oil Corporation said last Saturday. A Norwegian union for workers on offshore oil and gas drilling rigs stepped up a six-day strike yesterday that has hit oil output. Reuters also reported that in Iraq, two protesters died on Sunday in clashes with security forces in the town of Samawa amid anger in southern cities over public services and corruption.

Demonstrations have not yet affected crude production in Basra, whose shipments account for more than 95 per cent of OPEC producer Iraq’s state revenue. But any disruption could severely impact the country’s economy and push up prices. Investors are also on edge over the impact of the trade dispute between US and its big trading partners. Trump and Russian President Vladimir Putin were set to hold their first stand-alone meeting in Helsinki yesterday. Trump has been vocal about his dissatisfaction with higher oil prices, asking OPEC to lower prices.

SOUTHERN LEADERS’ FLIGHT DENIED LANDING PERMIT, NWODO WARNS NIGERIA SLIDING INTO DICTATORSHIP chartered flight to Makurdi but at the point of payment we were advised to confirm the issue of landing permit from the Airport Commandant in Makurdi. "At that point, we were made to understand that the request for the landing permit of our chartered flight is on the table of the Commandant, Lt. Commander A. Audu, who we learnt said for security reasons no aircraft will be allowed to land in Makurdi on Monday." THISDAY, however, learnt yesterday that the Southern leaders might not have been properly briefed about the status of the Makurdi Airport, as an informed explained that being a military facility, civil flights needed the permit of the military authority to operate, to and from, the airport.

Nwodo, however, told the press that the Southern leaders missed the meeting with their Middle Belt counterparts on restructuring in Makurdi, which was supposed to be a follow-up to similar ones successfully held earlier in Ibadan, Yenagoa and Awka. Nwodo, also former information minister, said their inability to fly to Makurdi was an infringement on their fundamental rights. He wondered why they were denied freedom of movement and association since no known law had been breached by them. "We are sliding into a dictatorship under a democratic government," he exclaimed. He specifically mentioned the Executive Order 006 recently signed by President

Muhammadu Buhari giving him express power to confiscate people's property. "This is condemnable as the Constitution is very explicit about the functions of the three arms of government, and not for the Executive to be using the powers of the Legislature. That is why there is separation of powers,” Nwodo said. Middle Belt Leaders Restate Stand on Restructuring The inability of the South-east, South-west and South-south leaders to make the Makurdi summit, however, did not dampen the spirit of the conferees, who restated their call for the total restructuring of the country in order to correct some abnormalities that is stunting the growth and unity of the country. Chairman of the Elders’

Forum of the Middle-Belt Forum Air Commodore Dan Suleiman (rtd), restated the forum’s position at the rally, which held at the IBB Square in Makurdi. He told his audience that the leaders of other socio-cultural groups, South-South Forum, Ohanaeze Ndi-Igbo and Afenifere, were left stranded at the airport for five hours. He said despite challenges confronting the region, the Middle-Belt would remain united and continue to march forward to greatness. Suleiman said there was need for Nigeria to be restructured to give way to fair sharing of resources, insisting that justice must be delivered to the people of the region. In his speech, Governor Darius Ishaku of Taraba State

commended the National Assembly for initiating a bill to establish state police. He called for accelerated passage of the bill, which he said would go a long way to address the incessant killings in the country. "Killing people is another form of corruption and the worst of it all. When one steals one million he is prosecuted but when some people kill innocent people in their sleep they are allowed to walk freely. This must stop. Nigeria is a great country but it is wasting away. Every state in Nigeria is a potential country of its own," he said. In his address, Benue State Governor, Dr. Samuel Ortom, said the leadership of Miyetti Allah Kautal Hore was still moving freely after calling for their arrest at several fora.

He reiterated the call for the arrest of the leadership of the association for being behind the killings in the state. He said before the group commenced the killing of innocent people in the state they had threatened that if the state’s anti-open grazing and ranching law was not repealed they would unleash terror on Benue people. "They had done that several times and killed scores of people. If they are not arrested we cannot rest nor stop crying. We have decided and taken them to court as law abiding people," Ortom said. Also speaking, Senator Barnabas Gemade enjoined all nationalities in the Middle Belt to stand their ground and work together as a people of same culture, race, irrespective of their language.

Affairs, Mr. Jerome Shimbe, who replaced Mr Titus Zam, relieved of his duty on July 8. He quoted the governor as saying that the ‘’red card from APC’’ would enable him to join any political party that had an ideology worthy of being adopted by his administration, adding that he had not made up his mind the party to join. THISDAY exclusively reported recently that the governor had resolved to dump APC following his tense relationship with the party, the platform he used to contest the governorship election in 2015. The governor in part

dissolved his cabinet last week, retaining only four out of the 16 commissioners and seven out of 19 Special Advisers. Although, he gave no reason for sacking of the members of the expanded cabinet members, insiders said the sudden cabinet reshuffle might not be unconnected with the friction between him and the APC leader in the state, Akume. Ortom also said the appointment of Shimbe was based on his impeccable character and proven track record of service, advising him to strive to justify the confidence reposed in

him and open his doors to all indigenes seeking for assistance from him regardless of their political affiliation. Responding, Shimbe thanked Governor Ortom for finding him worthy of the appointment, pledging to ensure that the governor

children, whose container-shop was swept away by the flood around Sabuwar Mosque area of Jibia. An eyewitness told THISDAY that the food vendor, Halima Zubairu Jibia, and her two sons, were hiding inside the container when the downpour started and were later trapped in the shop. Meanwhile, the Executive Secretary of the State Emergency Management Agency (SEMA), Dr. Aminu Waziri, who could not confirm the number of deaths as at press time, said the agency's

were still busy salvaging their personal effects from their homes, while others were seen packing out of the affected areas. The Nigeria Meteorological Agency had in its forecast earlier in the year, listed Katsina as one of the states that would experience heavy downpour.

ORTOM QUITS APC, AKUME EYES SENATE PRESIDENCY to be estranged from the party and are hugely suspected to be behind the reformed All Progressives Congress (rAPC) that is unsettling the APC and is spearheading a coalition of opposition party to work with the Peoples Democratic Party (PDP) to dislodge President Muhammadu Buhari from power. Akume’s calculation, THISDAY learnt, was that Saraki might leave the party shortly, a situation that might endanger his position and lead to his ouster. In the alternative, he calculates that even if Saraki serves out his term, he anticipates that the next Senate would

be dominated by the APC, a situation, he feels would put him in good stead to bid for the coveted seat. But Akume is said to feel that for all of these to happen, Ortom has to be out of the way, hence his move against the governor. This, THISDAY learnt, was responsible for the intractable nature of their quarrel. But speaking to reporters in Abuja yesterday, APC National Chairman, Mr. Adams Oshiomhole, denied the defection of Ortom, dismissing it as mere rumour. He said the governor was a loyal party man and a man of integrity, who would not

take such steps without consulting with the party leadership. Oshiomhole also stated that the party’s National Working Committee’s (NWC) had settled for direct primary for the Osun State governorship contest in the party. In a telephone interview with THISDAY, however, the Benue State governor’s Chief Press Secretary, Mr. Terver Akase, said his boss made his position known yesterday in Makurdi, the state capital, shortly after swearing in a new Special Adviser on Bureau for Local Government and Chieftaincy

FLOOD KILLS 44, DESTROYS 500 HOUSES IN KATSINA and goats were killed by the flood. The heavy rainfall started around 11p.m. on Sunday night and stopped by 1 a.m. this morning (Monday),” he said. The district head, however, called on the federal and state governments to come to their aid, considering the devastating nature of the flood, stressing, “It is only government that can assist us because the situation is beyond our financial strengths.” Also confirming the incidence, the Information Officer in charge of the

local government, Sa'ad Suleiman, said the situation was aggravated by those building structures on water channels and dumping of refuse in drains. He said the state government had earlier embarked on dredging of rivers, canals and clearing of drains in the state, urging residents of the state to inculcate the habit of disposing their refuse properly and desist from dumping refuse indiscriminately. The downpour, which, according to some survivors,

started around 11p.m. and stopped by 1a.m., caused river channels in the affected villages to overflow their banks, resulting in the loss of lives and sweeping away of several vehicles, motorcycles and farmlands. The natural disaster also sacked many residents from their homes and shops as their apartments were flooded, thereby rendering thousands homeless. THISDAY reliably gathered yesterday that three out of the 44 persons killed, were a food vendor and her two

Continued on page 8

TOP GAINERS NAHCO SOVEREITRUST LASACO UACN officers were moving to the FLOURMILLS affected communities in order TOP LOSERS to ascertain the number of casualties and houses affected LEARNAFRICA for onward transmission to MULTITREX government for intervention. Yesterday, some residents PZ

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IMF Raises Nigeria’s 2019 Growth Forecast to 2.3%

Obinna Chima

The International Monetary Fund (IMF) has raised Nigeria’s Gross Domestic Product (GDP) projection for 2019 to 2.3 per cent, up from the 1.9 per cent it had predicted for the country previously. The fund stated this in its World Economic Outlook (WEO) update titled, ‘Less Even Expansion, Rising Trade Tensions,’ released yesterday. The multilateral institution attributed its higher growth forecast for the country in 2019 to improved outlook for oil prices. Although Nigeria’s second quarter 2018 GDP figures are yet to be released by the National Bureau of Statistics (NBS), the country had recorded growth rate of 1.95 per cent in the first quarter of the year, lower than the 2.11 per cent recorded in the fourth quarter of 2017. In addition, the IMF in the latest report noted that the recovery in Sub-Saharan Africa was set to continue, supported by the rise in commodity prices. For the region, growth was expected to increase from 2.8 per cent in 2017, to 3.4 per cent this year, rising further to 3.8 per cent in 2019 (0.1 percentage point higher for 2019 than forecast in the April WEO). The Fund stated, “The upgraded forecast reflects improved prospects for Nigeria’s economy. Its growth is set to increase from 0.8 per cent in 2017 to 2.1 per cent in 2018 and 2.3 per cent in 2019 (0.4 percentage point higher than in the April WEO for 2019). “Despite the weaker-than-expected first quarter outturn in South Africa (in part due to temporary factors), the economy is expected to recover somewhat over the remainder of 2018 and into 2019 as confidence improvements associated with the new leadership are gradually reflected in strengthening private investment.” Commenting on the latest WEO, The Economic Counsellor and Director of the Research Department, IMF, Maurice Obstfeld, noted that overall growth in sub-Saharan Africa would exceed population growth over the next couple of years, allowing per capita incomes to rise in many countries. However, he noted that despite some recovery in commodity prices, growth

Oshiomhole: It’s Mere Rumour But addressing journalists, shortly after the NWC meeting of the ruling party, Oshiomhole said the alleged defection of Ortom was a mere rumour, adding, "The party will not comment on the basis of rumour; I am sure that eventually we will find out the facts of the matter and we will now act.” ‘’Governor Ortom is a respected, prominent member of the APC and he has said repeatedly to that he will not leave the APC unless he was pushed out,” he added.

…Summons Benue Gov, Akume to Abuja Meanwhile, the APC last night summoned Ortom and Akume to Abuja over irreconcilable differences between them which led to the former’s decision to quit the party. A presidential source who did not want to be named, told THISDAY last night that APC's summons of the two political rivals was conveyed to them by the Deputy National Chairman (North) of the party, Senator Lawal Shu’aibu. The source said, "Deputy Chairman (North), Senator Lawal Shu’aibu has summoned to Abuja for an urgent meeting, the two known gladiators

NEWS Nigeria is Safe, Secure for Investment, Buhari Assures 20 CEOs in The Netherlands President Muhammadu Buhari yesterday inThe Hague, Netherlands, met with over 20 chief executive officers of Dutch companies, assuring them of safe and secure environment in Nigeria for their investments... Page 10

NEWS

TUESDAY JULY

17, 2018 ˾ T H

Nigeria is Sa fe, Assures 20 CE Secure for Investment, Buhari Os in The Ne To address ICC today Orde therlands rs evacuation of Nigerians stran Email Ejiofor.

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Omololu Ogunmad e in Abuja

a gas than petroleum producing country. We should be making more of the court, which was President Muhamma money from to prevent impunity, established President gas today du Buhari yesterday on Media and and try cases in The Hague, make from petroleum, than we of genocide, Publicity, directive Malam Garuba Netherlands, war crimes, aggression, but the plans we made were Shehu said met with over is in line and crimes against scuttled. chief executive 20 humanity,” the had directed the Minister Buhari of the current with the policy “When I was officers of Dutch According to of Foreign administration Petroleum Minister statement added Affairs, Geoffrey companies, assuring a statement to Adesina, Onyeama and ensure the welfare of all by President Buhari them of safe (in the 1970s) for three-and-aNIDO and secure environmen Nigerians in every part quarter years, the yesterday met the Minister of State for Nwakpa while Chairman, Julius Aviation, of Senator Hadi for their investment t in Nigeria 12 LNG plan we had was to have with the Dutch Prime speaking on Sirika, to commence recalling that the world, security Minister, the the Mark Rutte. trains by s, as well as huge returns. process of repatriating administration the Buhari urged situation in Nigeria, than a generation 1983, but more The Nigerians several both “the governmen had The president on the 7th train. later, we are just issues two leaders discussed who went to Russia for occasions ensured on and security will today the FIFA repatriatio relating to the This was because address the Internation team to acceleratet fight against 2018 World Cup and were stranded al Criminal Court some people came, n of Nigerians the stoppage of unfortunat after the competition (ICC), at The and did just insurgency in the North-east, from in the foreign countries what they liked. e killings Hague. climate change, . country.” Shehu said This is coming and other conflictlike Libya they were doing,If they knew what Lake particularly the shrinkage of some He said Nwankpa as Nigerian Chad, Nigerians football fans were we would have in The Netherland zones. economic cooperation also tasked Meanwhile, Nigerians stranded in the the fight against s have tasked gone very far by now.” , country Nigerians the president in breaking “to play their roles in According to speedily end a range of other corruption and some following the activities of The Netherlands yesterday the cycle protracted killings the while David to the statement, unscrupulous issues of mutual tasked President usually has no of violence, which interest. travel of Suddens agents innocent Muhamma whom Nigerians in winner.” of Vlisco he said cancelled Buhari said the company du the country. It also said Nwankpa Buhari highlighted tickets and abandonedtheir return killings to end the protracted would acquire In a statement commended 400 hectares the progress Buhari on made of land for a them to country.of innocent Nigerians in the president’s issued yesterday, park textile in the in the fight against insurgency their fate. the for which the war against corruption in Nigeria, They also tasked Special Adviser North-east, while on Media Against this citizens “earned he said the president had to play of FrieslandC Hein Schumacher Prime and Publicity, ampina described respect around Minister pledged the Dutch said Onyema background, Shehu end active roles in the effort Femi Adesina, Mr. Nigeria the world,” to adding violence ravaging the support and that the the country. prerequisite to said security was country as “a most important of his government to anti-terrorism compliance with Sirika had in This call was successful investment, commended NIDO Chairman the president’s efforts in the to us,” promising directive taken hence, Buhari’s region. Buhari met with made when he described the president on what that the necessary emphasis on security the conglomerate In another statement the Netherland to bring back steps would invest “Stability was . about 11 s’ in infrastructuras high improvement home the stranded chapter of Nigerians yesterday, Nigerians. in Diaspora al developmen in our campaignsthe first thing to drink million euros in a “ready Senior Special Assistant Organisation t, and for signing to the (NIDO) on secure a country . You have to million project, using 100 per According to him, the Commissioninto law “the Diaspora locally sourced the presidential sidelines of his official visit Bill,” which can efficiently first, before you to The would Hague, Netherland It also said Schumachemilk.” manage it. Before “become effectivehe hoped s, yesterday. businesses can r pledged continuous as soon as possible.” thrive, security training for paramount. That is farmers, dairy and provision is why we lay so much emphasis of fortified milk for school on securing pupils adding the country. Andrew Brown that of Shell, which “After security said it had is reviving the , our next emphasis 60 years done business for over economy, and in Nigeria, with fighting corruption,” then, over the president 3,000 local employees, reportedly said. assured that that the company would According to the statement, maintain its emphasis the president on oil and power generation, commended many while Roland Dutch-owned companies operating Pirmez of Heineken in Nigeria for commended what he described the government for as their fair “stability in dealings, recalling exchange rate for the that the relationship past six to eight months.” with many of them “dates Disclosing that back to more than two generations was planning his own company , and it is to use renewable now almost energy for its a blood relationship power needs, rather than commercia Klaus Struilesma of Cownexxion l.” The statement , Adesina stated, indicated also stated the interest Buhari was impressed by that organisation in building of the economic cooperation the ranches cattle in Nigeria. between Nigeria and Meanwhile, The Netherland President Buhari and urged the s, CEOs to build will today address the Internationa factories in Nigeria, Criminal Court and source (ICC), at The Haguel raw materials A statement locally wholesale import. rather than the Nigerian by Adesina, said leader was Adesina also said the president president invited to grace the only spoke about Royal the 20th Dutch Shell and anniversary of the adoption the need to harness of the L-R: ICC Rome Statute. President potentials saying: Nigeria’s gas “President Buhari “We are more CEO, Heineken,Muhammadu Buhari; Plateau will of thoughts Mr. Roland Primez, State on the values share his shortly after a Governor, Simon Lalong; Ambassad and ideals roundtable

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INVESTMEN T MEETING

National Carrie r: Minister Meets Airpla ne Manufa t P

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Netherland of Dutch CEOs Police Place and President s to Nigeria, Amb. Robert Buhari, in Rotterdam Petri N5m Bounty ...yesterday and for Infor of 11 Of i meeting

EDITORIAL ULY 17, 2018

Admiralty Law and Treaties in Nigeria Organised by the Nigerian Shippers Council and the National Judicial Council with the theme "Institutional Excellence in Admiralty Law", an international maritime seminar was held in Abuja last week to raise the consciousness of admiralty law among members of the bar and N bench... Page 15

EDITORIAL

ADMIRALTY

LAW AND T

The government

should urgently

REATIES IN NIGERIA

submit

the act to the rganised by Egmont group the pers Council Nigerian Shipand Judicial Council the National “Institutional with the theme Excellence in only on the sector Admiralty Law”, but also on the To the extent national economy. tional maritime an internasigned by Nigeria that maritime is a global held in Abuja seminar was trade, any treaty has to be transform last jurisprudence ed into our to enable it have law among members the consciousness week to raise to the Chief Justice the force of law. local of admiralty of the bar and other stakehold According of Nigeria, Walter bench as well address at the Onnoghen in as session, discussed were ers in the sector. Some his principles of Internatio ‘’the domestication of the issues of some of the insolvency of the rights of a cargo owner nal Admiralt legal framewor the carrier, liability at the y laws into k of goods by regime Convention on as contained in the United Nigerian rail, road and inland waterwafor carriage and armed robbery Enforcement] Carriage of Goods by Sea Nations ys, piracy at sea as well [Ratification and Act international as the applicatio towards ground and others are significan treaties to Nigerian t milestones convention on breaking legal laws and the n of Nigeria.’’ practice in this recognition of ships. sector in foreign judicial draft sale of We must commend his is what the the conveners Nigerian Shippers of the seminar, to achieve and annual seminar was establish the for bringing expertsCouncil and National Judicial it has contribut and Council to the practitioners together ed tremendo ed growth of admiralt knowledge and usly to share y law system country. industry issues. experiences in managing in the begin to navigateBut time has come for maritime The seminar Nigeria to also offered participan behind. Maritime with the world so as not to be left WE URGE THE is fast becomin opportunity to ts the economy and g part of AUTHORITIES ate the commercapprecipertaining to given its contributions, any the digital that sector must treaty or law international ial and TO COMMENCE therefore call nature on the National be domesticated. We of the admiralty look at some THE PROCE Assembly to law of them begin to SS to Nigeria’s economic Much as we admit in the interest of the DOMESTICATINOF country. that such developm for bridging the INTERNATIONA G THOSE strengthe ent, thereby knowledge gap seminars are important pertinent to recomme T H I S DAY in admiralty law, ning the link EDITOR BOLAJI AND CONVE L RULES between the it nd is that ADEBIYI in future in order DEPUTY EDITOR more NTIONS maritime DAVIDSON to expose them participants be invited MANAGING WHICH WILL IRIEKPEN industry, the technical principles DEPUTY MANAGINGDIRECTOR ENIOLA to judiciary GOVER BELLO and applicatio some of the highly DIRECTOR KAYODE and other importan CHAIRMAN MARITIME ACTIVIT N and adjudicati ns of maritime EDITORIAL KOMOLAFE on. t BOARD OLUSEGUN EDITOR NATION’S disputes stakeholders. important and Undoubtedly, the maritime ADENIYI BETWEEN NIGERI IES CAPITAL IYOBOSA MANAGING strategic to Nigeria industry is UWUGIAREN EDITOR JOSEPH Over the years, that drives the USHIGIALE OTHER COUNT A AND there economy through since it is the engine RIES therefore believe has been that the seminartrade facilitation. We appreciable levelan and ensure expeditio will help bridge T H I S DAY of judges on the the gap awarenes EDITOR-IN-C N E W S PA P E R S cases for the overall us dispensation of justice importance of GROUP EXECUTIVE HIEF/CHAIRMAN NDUKAL I M I T E D disputes in the speedy resolutions among in admiralty OBAIGBENA We commend interests of the country’s of admiralty ISRAEL IWEGBU, DIRECTORS ENIOLA BELLO, the discussion country. It was therefore no KAYODE KOMOLAFE, IJEOMA NWOGWUGW Shippers Council the commitment of the economy. DIVISIONAL s surprise that U, EMMANUEL DIRECTORS Nigerian treasure trove and resolutions at the sessions BOLAJI ADEBIYI, EFENI bringing membersand National Judicial Institute of information ANTHONY OGEDENGBE PETER IWEGBU, provided DEPUTY a the maritime DIVISIONAL for always together for the of the bench and other DIRECTOR OJOGUN industry. But for relevant stakeholders in SNR. ASSOCIATE stakehold until the internatio VICTOR DANBOYI are domestica sake of instituting ASSOCIATE DIRECTOR ERIC ways of attending ted, there are DIRECTORS more comprehe ers OJEH CONTROLLE challenges that nal treaties to RS ABIMBOLA PATRICK EIMIUHI, SAHEED pressing nsive economy. marital TAIWO, impinge not ADEYEMO UCHENNA DIRECTOR, issues of Nigeria’s But they could PRINTING PRODUCTION DIBIAGWU, NDUKA do more. We to commence CHUKS ONWUDINJO MOSERI TO SEND EMAIL: urge the first name.surnam tional rules and process of domesticating the authorities e@thisdayliv those conventio e.com internans which activities between Nigeria and otherwill govern maritime countries.

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PRAYING A C

OUNTRY INTO DEVELOPMENT ?

igeria is a rolling disaster waiting happen if concerted to and other complicatio efforts are not put in place ns which led the young boy. to fix it. It’s to the death obvious we live each commissioned The Russian President thereafterof day the with uncertaintie in this country for that ailment. building of a Specialist Hospital knowing when s. Apart from not It was built and prepared for boy, Dima Rogachev named your homecomin your maker has Oncology Specialist after the a country that g, you have Because of that Hospital. is not known doubts in any form of from cancer-relat hospital, cases of child natural disaster. for any occurrence of deaths in the region. ed ailments have dropped Prayers don’t German doctors by 90% been praying develop countries. If it their Russian still run it, training does, since 1960 and counterparts. It is also a Teaching terrible of all Hospital for still among the we’ve doctor t nation It’ mo t

POLITICS Catalogue of Winners, Losers in Ekiti Finance Minister, Kemi Adeosun would still fall short of the levels seen during the commodity boom of the 2000s. “Adverse developments in Africa— civil strife or weather-related shocks, for example—could intensify outward migration pressures, especially toward Europe,” Obstfeld explained. According to him, amid rising tensions over international trade, the broad global expansion that began roughly two years ago has plateaued and become less balanced. He stated that growth remains generally strong in advanced economies, but has slowed in many others, including countries in the euro area, Japan, and the United Kingdom. He said, “In contrast, GDP continues to grow faster than potential and job creation is still robust in the United States, driven in large part by recent tax cuts and increased government spending. “Even US growth is projected to decelerate over the next few years, however, as the long cyclical recovery runs its course and the effects of

temporary fiscal stimulus wane. “For the advanced economies, we project 2018 growth of 2.4 per cent, down 0.1 percentage point from our April WEO. We maintain an unchanged forecast of 2.2 per cent growth in those economies for 2019. “For emerging market and developing economies as a group, we still project growth rates of 4.9 per cent for 2018 and 5.1 per cent for 2019. These aggregate numbers, however, conceal diverse changes in individual country assessments,” he added. He urged countries to embrace multilateral cooperation. “A truly global effort is also needed to curtail corruption, which undermines faith in government in so many countries. “Finally, recurrent surges in international migration pressures, which have proven so politically destabilising recently, cannot be avoided without cooperative action to improve international security, support the Sustainable Development Goals, and resist climate change and its effects,” he said.

ORTOM QUITS APC, AKUME EYES SENATE PRESIDENCY succeeds in all his endeavours.

Two-Minute Brieﬁng

in the APC in Benue State, Governor Samuel Ortom and Senator George Akume who have been at daggersdrawn over the control of the party in the state. "This is directly connected with the threat to pull out of the party made by Governor Ortom on Monday."

Dogara’s Top Aide Dumps APC As Oshiomhole laboured to deny the exit of Ortom, the news came that the Special Adviser to the Speaker of the House of Representatives on Special Duties, Alhaji Usman Bawa, had resigned his membership of the APC. Bawa was a member of the House of Representatives where he represented Kaduna North Local Government Area at the National Assembly. He sent his signed resignation letter, dated July 14, to the APC chairman in his local government yesterday. Bawa was appointed in 2015. Dogara’s spokesperson, Turaki Hassan, confirmed that Bawa was still an aide to his principal though. Bawa wrote, “I write to convey my decision to resign as a member of the All Progressives Congress (APC) following consultations with my teaming supporters. “The decision has become imperative to enable me pursue other course of life. I seize this opportunity to express my appreciation to the executives and

members of APC for their support during my stint with the party.” He did not mention the new party he will be joining. Bawa’s decison comes weeks after an aide to Senate President Bukola Saraki, Dr. Hakeem Baba-Ahmed, also left the APC. Baba-Ahmed is also a politician from Kaduna State. Although Dogara and Saraki are still officially members of the APC, they are believed to be the key sponsors of the rAPC, a splinter group within Nigeria’s ruling party. The rAPC is already in talks with the other parties, including the main opposition PDP to form a coalition for the 2019 election.

APC Settles for Direct Primary in Osun State In the meantime, Oshiomhole said yesterday that the National Working Committee of the APC, had decided to use direct primary to conduct the nomination contest for its candidate for the governorship election scheduled for September in Osun State. He also said Governor of Zamfara State, Alhaji Abdulaziz Yari, had been appointed to head the panel to conduct the primary election. Defending the decision to adopt direct primary, Oshiomhole said it was more democratic, saying majority of all the stakeholders of the party in the state had indicated preference for it.

Guber Election APC: For the All Progressive Congress (APC), the political platform of Ekiti State Governorelect, Dr. John Kayode Fayemi, triumphing in the July 14 governorship election was an important feat, given its relevance to the current political permutation in the country. Page 16

POLITICS

HATE?

quarters in the state, as attack on Tambuwal’ novel agric policy, under s the “Cattle Breeding, Milk and Beef Production Project”, which designed to make is hub, essentially the state a model of agric that is driven in the areas of animal husbandry by technology problematic as against the mod f c

T H I S D AY

• TUESDAY

, JULY 17, 2018 Group Politic s Editor NSEOB ONG OKON Email nseob -EKONG ong.okoneko ng@thisdayli ve.com 0811449532

The winners APC: For the All Progressiv (APC), the political platform e Congress Governor-elect, of Ekiti State Dr. John triumphing in the July Kayode Fayemi, election was 14 governors relevance to an important feat, given hip the in the country. current political permutati its Before the on pundits predicted election that whatever political of the election, comes out will set the presidential election. With tone for the 2019 polls, APC has demonstr its victory at the relevant in ated that it the strong message South-west. This has is still sent a to the oppositio President n. campaign to Buhari: During the build-up some quartersthe election, it was believed that the contest in between the was actually Federal President Muhamm Government, headed by Ayodele Fayose adu Buhari and Governor The reason for of Ekiti State. such insinuation of the way was because the governor the oppositio and members of the perceivedn attacked Buhari and rode flaws of his campaign against administration on to Fayemi insolent attitude Fayemi. Governor Fayose’s for the APC’s during Buhari’s visit to Ekiti the President mega rally was an affront president can . With his party’s victory, to walk with the his INEC: Before the election, head high. the nation’s electoral umpire, all eyes were on National Electoral the Independe nt of its strategic Commission (INEC), because the election. importance to the conduct of As promised Yakub, the by its chairman, Prof. Mahmood election was utmost fairness conducted with to all the parties The body provided a level playinginvolved. all. As a result field of this, the smoothly, devoid exercise went to Bola Tinubu: of rancor or controver on sy. The national APC, Bola Ahmed Tinubu leader of the involved in was actively the campaign As a father to figure of the re-elect Fayemi. in the South-we party, st, apc’s victory especially Tinubu as reaffirmed the APC garrison. Commander-in-Chief all the states He has successfully of the brought progressive in the South-west under umbrella. the Kayode Fayemi: Considering Fayemi was the way Democratic ousted in 2014, with Party (PDP) Peoples winning in the entire Oshiomhole

cters

ip election in

Ekiti

Fayose Buhari

IGP Idris 16 local governme nt areas of re-election the state, the has Uche Secondus themselves followers, who vindicated Fayemi with and what happenedhave consistently insisted his collective wisdomthe patience, sobriety and selfishnes that befitting the of the situation in 2014 was not a reflection Other Contestan s and high moment. handedness. ts: The fact contestants Perhaps, moreat the time. that other for the APC than any The Losers Segun Oni governor in ticket like other fo Opey i Chi f th

FEATURES

TUESDAY,

JULY 17, 2018 • T H I S D AY Group Featur es Editor: Chiem Email chiem elie Ezeobi elie.ezeobi@ thisdaylive.c om 07010510430

Tackling Yout h Unemploy ment

As part of its After Schoo commitment to support l Graduate the Edo State Programme solar power governmen recen installation, and make-up. tly organised a youth t’s youth unemploym ent drive Ugo Aliogo summit with ishat Ikhelowa is an unassumin reports focus on photo , the young prodigy. The graduateg of University graphy, of the youths of Abuja was one

in the Edo who participated Youth Summit/ After School Training organised in collaborat Graduate Programme by the ion with Edo (AGDC), Having heard State about her from Government. Director of the Executive it proved toAGDC, Mrs. Funmi Adeyemi, the enigma be an assignment to information that was Ikhelowa. unravel The little The onus wasfrom Adeyemi was intentiona l. who Ikhelowanow on this reporter to as an individuawas and what she discover stood for Upon closer l. that Ikhelowa examination, it was discovered of the AGDC was one of the beneficiar solar installatio ies workshop. n training/ Before attending the summit, the training and on freelanceshe was engaged in data basis for private analysis and governme organisations from an onlinent agencies, a skill she learnt platform. Self-development Ikhelowa believes strongly that mental efforts self-developthrough training youth developm seminars ent and skills catalyst for acquisition on driving staying competitiv economic prosperitys is a CEO House of Tara, Mrs. and e in a Tara Durotoye; world. Her objective was technological-driven CEO ACT Foundation and trainings to use these , Mrs. Osayi Alile, and Mrs. such as loans to access micro-credit seminars Funmi Adeyemi facilities in order of AGDC Therefore, when AGDCto setup businesses. the summit and training, came calling with of those similar she saw it as one opportun not to be as AGDC cameities. But this was blueprint. with a different The idea behind the AGDC summit redirect the mind-sets of the organisat many young was to start thinkingion could find in the people state, of successfu to activities they l entrepren eurial the economic could embark on to change According to landscape of the country. Ikhelowa, the the opportun ity for the training provided taught advanced participants to be physics in way, which a simplified explained thatshe described as amazing. She the opportuni the training provided loan, developty to access a single digither first; passion and her skill-set in an area interest achiever’s transform her mind-set of her mind-set, which into an true for most participants. she added was Plus for Commun ities Equipped with Ikhelowa and the practical training Some of the received, participant her team s of the training Fusion, are known communities planning to electrifyas Green same area of land for both off-grid with clean (sola ) po d l

BUSINESS Nigeria’s Unused Electricity Volume

Projected to Rise by 2,130MW The total volume of unused electricity from Nigeria’s national grid will rise by 2,130 megawatts (MW), to add to an existing 2000MWidle volumes that power distribution companies (Discos) are unable to take to homes... Page 21

FOR THE CALIP

4 SMS ONLY TRENDI NG Catalogue of Winners, Los N E W S Raheem Akin ers in Ekiti Gu State, especiallygbolu takes a cursory look ber Election at the significanc the political fortun e of e of the major the 2018 gover chara norsh

FEATURES Tackling Youth Unemployment

Aishat Ikhelowa is an unassuming young prodigy.The graduate of University of Abuja was one of the youths who particiated in the Edo Youth Summit/Training organised by the After School Graduate Programme (AGDC)... Page 18

WHAT NEXT

he peaceful caliphate woke unprovoked up to and totally mindless killings by unknown persons who invaded the state from a border town. The killings were brazen 35 innocent as over lives houses and other property were lost, several 10,000 people destroyed and displaced; who over shelter in three are currently diff t ki

PHOTO: UGO

ALIOHO

ULY 17, 2018

BUSINESSW R A T E S

MONEY MARKET OBB OVERNIGHT

A S

A T

REPO

8.92 % 9..42 %

CALL 1-MONTH 3-MONTH

12% 12.75 % 13.50%

ORLD

LEVEL 1-DAY MONTH-TO-DATE

353.03% -0.03% -0.32%

Group Busine

Email obinna. Editor Obinna Chima chima@ 0802455707 thisdaylive.com 8, 0809115221 9

J U L Y 1 3 , 2 S & P INDEX 0 1 8 INDEX

S & P INDEX 1/4 TO DATE

EXCHANGE RATE N305.801US DOLLAR* *AS AT LAST FRIDAY

-0.32% 7.15%

YEAR TO DATE

Quick Takes

AXA Mansa

GLOBAL RANK ING

L-R: President, Lagos Business Director of Faculty, School (LBS) Alumni Associatio held in Lagos…re Dr. Yinka David-Wes n, Mrs. t and Alumnus, cently LBS EMBA, Mr. Claire Omatseye; Director, Ayodele Akinwunm MBA Programm i, at a media brieﬁng es, Dr. Uchenna Uzo, on LBS’ Global Ranking

Nigeria’s Un used Electricity Projected to Ris Volume e by 2,130MW

AXA Mansard rd Wins Award Insurance Plc, won the insurance a member of the AXA Group of the Marketing company of the year award recently which took place Edge Brand and Advertising at the sixth edition was presented in Lagos. According to the Excellence Awards excellent serviceto AXA Mansard Insuranceorganisers, the award, in recognition insurance sectordelivery and immense contributio of its as well as the Brand and Advertisin country at large. n to the Nigerian Marketing Edge g Excellence recognises and Awards is an celebrates outstandin annual for their contributio g personaliti event that es and the last six years, ns in their various industries. The brands has become celebrating talents award, the benchmark for recognising in and milestones communication and industry in Nigeria. in the integrated marketing Speaking on the tions Manager, recognition, the Brand Strategy and Communica“We are truly AXA Mansard Insurance Mr. thrilled to be Emeka Muonaka, recognised Company of the said, as the Outstandin g Insurance commitment Year.This award is in recognition to provide eﬀective of we promise service to our our unwavering to customers and to the growth never relent on making meaningfu and l contributio Recently, the evolution of the Nigerian AXAMansard insurance industry.”ns application designed launched MyAXA to bring Mobile App, of its users by an providing a morereal value to the life experience manage their convenient s AXA for free download Mansard product plans. way to purchase and The app is for Android users on the App Store for IOS users and available respectively. Play Store

Winners Emerg

e in Spectr Keeping to the one of the leadingpromise of engaging and anet Promo rewarding customers internet service has unveiled provider, Spectrane , the first Out of thousands set of winners in its t 4GLTE world of subscribers 216 subscriber that participate cup promo. Stories Chineme d in the campaign, representativess emerged as winners from Okafor in of lottery regulatory a draw observed Abuja RegulatoryCommissio by bodies- National ENERG Y n,ConsumerProtection State Lotteries Lottery of the country’s The total volume transmission of the star prize Board. Olanrewaju OlapadeCouncilandtheLagos of unused electricity volume will increase network had grown which governmen electricity Bakare Abiola – a Trip to Dubai. Also, five emerged as winner between to from Nigeria’s to 4,130MW, an and Nzete Promise, customers comprising equivalent of 2015 and 2017 at an national grid implement.” t is committed what Similarly, average the will rise by Nzei Uche, Akinsipe got unlimited data 2,130 supplied 11 Discos are currently of 1,062MW. megawatts He explained for one year. were among (MW), to add Olaoluwa to distribute “Transmission 10 subscriber country’s distributio that the an existing across the s rewarded with and Victoria Obenoh as 200 subscribers has also 2000MW idle to country. increased from n capacity increased from 42 inches LED umes that power volwere handed 5,000MW data He TV, the or approxima explained just bluetooth proximately privilege ap- 2,690MW the additional tely companies (Discos)distribution volumes in 2015 to 7,124MW in 2015 subscribing to speakers for purchasing to choose either 7GB data Spectranet in 2018, averagingto 5,222MW to take to homes are unable 455MW would come from approximately in December Dubbed ‘Connectplans in June when the promotion devices and averaging 1,062MW 2017 of 844MW an increase Azura-Edo and offices in the country, & Win Big’ commenced. plant; 215MW for Nigeria’s per annum. per male national , the promotion drummed Power, Works the Minister of Afam Kaduna plant; 240MW increase in transmission annum Fashola, said at the just concluded team as support this was possible capacity. III Fast Power; “TCN currently Mr. Babatund and Housing, Kashimbil 2018 FIFA Worldthey jostled for honours 40MW transmissio has about 90 because the Discos have mencement e Fashola la hydro of Cup. done also disclosed. n projects in has 2018, Ajay Awasthi the draw, the chief Executive Prior to the comwhile in 2019, plant in stages of constructio various from some work, adding that said, “The innovative Officer Spectrane the 700MW Fashola, who 2016 when the initiative are to be completedn and many complaine the Discos nature t stated this Zungeru hydro plant; of at a media 480MW d Eagles team rewarding customers for of Spectranet led to and this year,” briefing in in enough power about lack of Abuja, would Okpai II power plant Fashola said. disclosed that tranet remainedthe World Cup.” Ajay furthersupporting the Super to distribute, According to revealed and 2019, the between now completecome on stream to committed to him, “So, we volume of power availablethe renewed and country’s unused excellent service that Speccan transport the equation. upgraded facilities to what the Gencos them has increased subscribers’ He also stated that will continuetooffering with and they experience of are now unable that the capacity generate and there is improveth the br d a tra t i i k

PROPERTY Shopping Begins at $54m Mixed-use

PROPERTY & ENVIRONM

T H I S D AY

• TUESDAY , JULY 17, 2018

ENT Shopping Be Central in Ab gins at $54m Mixed-us uja e Novare Novare Centra l, a mixed

-use shopping this month. The and office facility in Abuja will growing Wuse new addition is designed be to area of Niger ia’s capital city. meet the demand for mode open to shoppers and corpo Bennett Oghif rate tenants rn commercial ovare Real o reports infrastructur e in the fastEstate Africa, spaces in the vibrant Wuse area of Abuja. a leading

Novare Central in Abuja N Novare Real Estate Africa, a leading commercial property portfolio with significant property investment across Africa, is set to open its newest addition, ‘Novare Central’, a $54 million mixed-use centre on July 19, 2018. Page 28

An exclusive commercial Ribbon Cutting ceremony, scheduled propert to hold on y portfolio with July 18, 2018, (the attendance significant property of this world investment of which is strictly across Africa, class centre is set to open tion), will herald by invitato the highest built its newest addition, ‘Novare of Novare Central.the opening standards withininternational Central’, a $54 The Novare record time and budget. Central consisting centre on Julymillion mixed-use of 7 178m2 of 19, Mr. Derrick retail space The company’ 2018. the ground Roper whilst on s projects applauding floor with A-grade Abuja include the Novare in offices occupying management the in-country Mall, and Novare Apo is strategical three floors Real Estate team of Novare ly located within and in Lagos Gateway Mall, the Africa also central business noted that the Lekki Mall, it built Novare Abuja, Novare Central the largest an area which district of development in Lagos. mall to witness continues great support has enjoyed rapid developm These projects from in the Federal ent the Abuja municipality, combined have attracted and home to Capital Territory, which views the project various governbillion dollars more than half a ment as a significan departments in foreign direct contributor t investment such as the R-L: Director, Novare Real to Foreign to ment of the the advanceChairman of Nigeria, said the Wuse Affairs Ministry, the Ajogwu, SAN; and CompanyEstate Africa, Mr. Peter the Board, ProfesBamkole; Chairman General Hospital opening of and economiccity landscape sor Fabian Novare Central Secretary (KP Nominees the Nigerian of the company, development. and Ajogwu, SAN, Ltd), Kelvin Mall and Oﬃces Novare Central Customs Services. a briefing in Professor Fabian Erhonsele, at in Abuja… The modern at the press Lagos, compli‘Shoprite’. Other recently ments other conference Novare Central, recently. dexterity and architectural centre on the stores developments commercial excellent locaa retail combinati Abuja offers tion include PEP, in the their interest of Novare to take up space Office Everything, on of shops, Novare Real executed by restaurants Central Active Leisure, at the centre. attracted innovative and which includeEstate Africa the attention has Timekeepers, leadership centres, as well entertainment major The success Kilimanjar the Novare of Miniso as first-rate office retail brands, of the Novare Group Chief Executive of the Gateway with a growing o and Central is including Mall in Officer, Africa’s largest largely attributed Novare Equity food retailer, of established retail number to the dynamic Partners, Mr. developed at a cost Abuja, of US$68 brands and big corporates board of the Derrick Roper and million with the excela second lent execution expressing Company led by Professor phase of the in-country that will in future Fabian Ajogwu, see another 10 000 square SAN. The management team has resulted metres added in the successful A special promotion completion to accommodate 33 more shops. line offer for early subscriber s to Prop- housing deficit was ertymart’s a factor in extending Fairmont same price the promo Lekki housing scheme under a 5-year came to a more weeks in keeping by 60 months duration or desires close last the need to to live around Friday, according with an allow more with initial payment to officials the price people and to participat of N640,000 Lekki corridor and of the company. of 16.8 million e in the unique a staggered be close Managing naira. arrangement to Victoria Island When Director, Deji offer. It should which Fasuwon business districts. and Ikoyi company asked why the staggered payment that the propertybe recalled paymentsallows subsequen said the option, offers is currently t special in price offer He said though focused real easy access to credible on land sale a surprise move company to make to be broken down the disestate investmen ended prior ought to have to counted it affordable according gated estate in a proposed young property to that date for the closed, offer window will discerning with world for the massive and upwardlyts for the but and observers,market players be Nigerian the infrastruc class land will mobile who to be Nigerians, turnout of ture as opposed interested sold at its normalcontinue finished while availing the Fairmont decided to sell buyers, Lekki land with the company’ coupled one market focusinghousing, Fasuwon to opportunity to at on land sale said building projects scale their give more people s desire to pricesof the most affordable with to their when and cost appetite. taste compared to grab a piece opportunity other to property firms of Fairmont on the Lekki playing in the area. corridor. Fasuwon said Aside the one-off the promise of providing of N12.8 million payment order to cutideal housing in willing for those the country’s to purchase Eromosele Abiodun at a customers can also pay go, from other residential the A real buildings in Lagos, and estate developm it is a very good Fadekemi Ajakaiye company, ent reason Brookstone Prop- When to invest in our property. erty Limited, that if nothing was done, arrangements has concluded you you want to buy a house The lives and livelihood Victoria Island-Lekk the look at different to build a of families in communit i axis billion residential N5 Fadekemi Ajakaiye ies along the be underwater by 2030 would apartment in are you looking at things, coastline of and the memory of whole of Lagos the Atlantic concrete or something Nigeria’s former to the table. Ocean in by Lagos, 2050. that Finance Minister, just has unique According One of the views? It is to him, communities like other seaside problem LG Electronics nation’s leading up to you.” Festus Okotie-Eb late Chief the in the country, brands, LG He added, “Before ray of products offered an arthreatened o. are started of coastline erosion Electronics Speaking we started as which included, presented this project, has Multi the shore dailythe sea pounds when during the colonial era its latest product we sat down V 5 Air Conditi breaking cer at the ground said Multi V groin and h

Propertyma rt Ends Speci al Price Offer

for Fairmont

Housing Schem e

Firm Floats N5bn Apartmen in Honour of Former Finan t Minister ce

NCF Appeals Protect Niger to Government to ia’s Atlantic Ocea Coastline from n

LG Exhibits Commercial Unit at West AC Africa HVA C Expo

INTERNATIONAL Trump-Putin Chart Controversial Path to

NewUS-Russia Relations On the eve of the highly anticipated meeting between United States President DonaldTrump and Russian PresidentVladimir Putin in the Finnish capital, Helsinki,Trump... Page 40

SPORTS FIFA Shortlists Ahmed Musa’s Goal

Among the Best at Russia 2018 Super Eagles pacy winger, Ahmed Musa, is in contention for the ‘best goal’ of theWorld Cup finals which was rounded up last Sunday in Moscow.With FIFA’s launch of a poll yesterday to pick the best of the 169 goals scored at the Russia 2018 World Cup, Ahmed Musa’s classy goal... Page 46

FOREIGN/D IPLOMATIC AFFAIRS

TUESDAY JULY

vincent.obia@t

17, 2018 ˾ T

H I S D AY

Editor: VINCEN T OBIA hisdaylive.com 0805 468 1757

In Brief

Iran Takes US to Sanctions ICJ Over

Iran has filed a complaint International Court of Justice with the “hold US accountab (ICJ) to le for its unlawful re-imposition Iranian Foreignof unilateral sanctions, Minister Mohamm ” Javad Zarif ad said on Twitter “Iran is committe Monday. d to the rule the face of US contempt for of law in and legal obligation diplomac counter its habit s. It’s imperative y to the tweet read. of violating int’l law,” Zarif did not the claim it would expand on bring before but officials the ICJ, have repeatedly the US of imposing accused illegal sanctions on Iran after Comprehensivepulling out of the Joint Plan known colloquial of Action (JCPOA), ly as the Iran deal, in May. nuclear Vienna with Under the deal signed UK, France, six world powers - the in US, Germany, Russia, the European China and its uranium Union - Iran scaled back enrichment programme and promised not to pursue nuclear weapons.

US To Conside r Waivers on Iran Sanctio

President Donald

Trump and

Russian President

Vladimir Putin

at a joint press

conference

ns U.S. Treasury Secretary Steven Mnuchin said consider waiversin certain cases US will for countries more time to that need from Iran, as wind down imports of oil it seeks to avoid global oil markets disrupting sanctions against while re-imposing people to reduce Tehran. “We want oil purchases but in certain to zero, cases overnight, we’ll if people can’t do that Mnuchin told consider exceptions,” reporters according to on Reuters. His Friday, clarified comment comments that there woulds by some U.S. officials be Mnuchin’s comment no exemption s. s were embargoe for release on officials were Monday as other U.S. d India this weekexpected to begin talks in on cutbacks in Iranian oil supplies.

Trump-Putin Ch art New US-Russia Controversial Path to Relations The first Monday. Photo

credit: Yuri

Kadobnov /AFP/Getty

Images

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TUESDAYSPO RTS POST W O RLD

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Loved Ones Dozens Palestinians of relatives of slain held a rally calling on Israel on Monday their loved ones. to return the bodies of The protest took place before in Ramallah an Israeli Court session on Tuesday Supreme cases of 10 Palestinia regarding the ns kill d

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T H I S D AY

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

CUP 2018 …

FIFA Shortli Among the sts Ahmed Musa’s Goa Best at Russ l ia 2018

Femi Solaja

the second against Super Eagles Iceland at Volgograd Ahmed Musa, pacy winger, among has been shortlisted be the best for Russia was 2018 to qualify the tourname for the ‘best is in contention 18 goals. nt’s best It scored in the 75thminut from the group goal’ of e. which Nigeria was a fine World Cup individua It is even still The finals which the later relinquish a big rounded up was Musa, speedy and mercurial effort as the Vice captainl to Argentina in last Sunday the last group that his first goal surprise of Super Eagles Now, Musa’s Moscow. in match who started the Iceland’s against goal Iceland did shortlisted outpaced D match at Saint Petersburg as not make the is contesting Musa got himself With FIFA’s . Kari Arnason role in the against bench before with 17 composed It was another superb cut. others scored opening rounding Goalkeep before yesterday to launch of a poll against goal players by notable Croatia, has match Hannes Halldorss er It’ was firing into the net. good enough for exhibition like Lionel of the 169 pick the best opportuni a great sprawled on television his fourth on goals scored Messi, Cristiano . the Russia 2018 helplessly onwho two World Cup goal in at the record ty to put himself in turf Musa controlled Germany’ Ronaldo and the having matches to double Ahmed Musa’s World Cup, eventually books if his goal Victor others. s Toni Kroos among is in the classic Nigeria’s lead against achieved a brace Moses’ cross with classy goal, picked as the encounter and setting himself one touch, Argentina best. was eventually The goal contendin The poll 2014 thus making at Brazil unstoppab up for presented voted g to ‘Man by le half-volley an Hyundai will him the his of the Match’ as the second African be open for with a week second. and player the country back put The to score at in contention two World Cup braces, the Volgogradhuge crowd with its till Monday. Nigeria Roger Milla after in salute huge Arena rose in 1990. help Musa population can for achieve success of a goal. the master piece by voting for France’s victorious is listed ninth his goal which among the 18. team in Russia World Cup from the plane, is to receive the country’s raising the competiti highest on’s accolade, the Légion to the cheering golden trophy d’Honneur, French presidency crowds the announced who gathered to greet of fans yesterday. them. Fans partied across France France defeated Croatia 4-2 overnight, but celebratio in the football in ns on Sunday - final in Moscow by some cities were marred Cup win in its second World gas violence. Police fired tear as sporadic 20 clashes broke Crowds of years. fans lined the out in Paris, Lyon, Champs-Elysées Strasbourg in central and Rouen. Paris to give Dozens of the team a heroes’ welcome. into a shop youths broke on the ChampsThe players will be Elysées and stole wine honoured with and a parade on champagne. the capital’s But a President main artery and one the national mood was ial of joy, and Paris The World Reception. transport company who have nowCup winners, celebratin RATP said it was landed back g in Paris, will Les Bleus by the success of renaming some bus along take an open-top stations the avenue after yesterday. later They includethe victors. Victor Hugo Captain Hugo Lloris, coach Didier Lloris and captain after the team’s Deschamps and goalkeepe were the r, and Deschamps-Elysées, first to emerge in honour of the coach.

France’s Top Honour for World Cup Winners

Mbappe Don Cup Bonuses ates All World to Charity

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in the 2-0 win

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Duro Ikhazuag be Cup victory, now he’s already France forward. looking at giving Kylian Mbappe is L’Equipe reportedback. reported to donated all have that Mbappe had Monday and bonuses the allowances informed already 2018 World he earned at the de Cordéethe charity Premiers back to charity. Cup in Russia he planned to in April that When the phrase “Our Distant finally donate The PSG star Cousins are Champions” who emerged paycheck to the organisati his first become crowned the Young Player was uttered there Now he’s announcin on. ‘world of my the might have champions’ after 20 years, Mundial at g that been confusion as to 19 years was not only will his what the had the full support they reported by French paycheck young man who chanted go to the ch of the Nigerian fan new t lki it L’E it t h

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T H I S D AY Ë¾ TUESDAY JULY 17, 2018

TUESDAY JULY 17, 2018 ˾ T H I S D AY

NEWS

Group News Editor Ejiofor Alike Email Ejiofor.Alike@thisdaylive.com, 08066066268

Nigeria is Safe, Secure for Investment, Buhari Assures 20 CEOs in The Netherlands To address ICC today Orders evacuation of Nigerians stranded in Russia Omololu Ogunmade in Abuja President Muhammadu Buhari yesterday in The Hague, Netherlands, met with over 20 chief executive officers of Dutch companies, assuring them of safe and secure environment in Nigeria for their investments, as well as huge returns. The president will today address the International Criminal Court (ICC), at The Hague. This is coming as Nigerians in The Netherlands have tasked the president to speedily end the protracted killings of innocent Nigerians in the country. In a statement issued yesterday, the president’s Special Adviser on Media and Publicity, Mr. Femi Adesina, said security was prerequisite to successful investment, hence, Buhari’s emphasis on security. “Stability was the first thing in our campaigns. You have to secure a country first, before you can efficiently manage it. Before businesses can thrive, security is paramount. That is why we lay so much emphasis on securing the country. “After security, our next emphasis is reviving the economy, and then, fighting corruption,” the president reportedly said. According to the statement, the president commended many Dutch-owned companies operating in Nigeria for what he described as their fair dealings, recalling that the relationship with many of them “dates back to more than two generations, and it is now almost a blood relationship rather than commercial.” The statement also stated that Buhari was impressed by the economic cooperation between Nigeria and The Netherlands, and urged the CEOs to build factories in Nigeria, and source raw materials locally rather than wholesale import. Adesina also said the president spoke about Royal Dutch Shell and the need to harness Nigeria’s gas potentials saying: “We are more of

a gas than petroleum producing country. We should be making more money from gas today than we make from petroleum, but the plans we made were scuttled. “When I was Petroleum Minister (in the 1970s) for three-and-a-quarter years, the plan we had was to have 12 LNG trains by 1983, but more than a generation later, we are just on the 7th train. This was because some people came, and did just what they liked. If they knew what they were doing, we would have gone very far by now.” According to the statement, while David Suddens of Vlisco said the company would acquire 400 hectares of land for a textile park in Nigeria, Hein Schumacher of FrieslandCampina described Nigeria as “a most important country to us,” promising that the conglomerate would invest about 11 million euros in a “ready to drink project, using 100 per million locally sourced milk.” It also said Schumacher pledged continuous training for dairy farmers, and provision of fortified milk for school pupils adding that Andrew Brown of Shell, which it said had done business for over 60 years in Nigeria, with over 3,000 local employees, assured that that the company would maintain its emphasis on oil and power generation, while Roland Pirmez of Heineken commended the government for “stability in exchange rate for the past six to eight months.” Disclosing that his own company was planning to use renewable energy for its power needs, Klaus Struilesma of Cownexxion, Adesina stated, indicated the interest of the organisation in building cattle ranches in Nigeria. Meanwhile, President Buhari will today address the International Criminal Court (ICC), at The Hague A statement by Adesina, said the Nigerian leader was the only president invited to grace the 20th anniversary of the adoption of the ICC Rome Statute. “President Buhari will share his thoughts on the values and ideals

National Carrier: Minister Meets Airplane Manufacturers, Prospective Investors Kasim Sumaina in Abuja As part of the efforts towards the establishment of a new national carrier, the Minister of State for Aviation, Hadi Sirika, yesterday, met with Aeroplane manufacturers, Airbus, to negotiate for the acquisition of the desired aircraft. Sirika in a statement by the ministry’s Deputy Director in charge of Press, Mr. James Odaudu, noted that, the ongoing Farnborough International Air Show, in London, UK is an opportunity to negotiate with the airline manufacturers to get the most competitive and best value-for-money deals for the country. The minister, who is attending the Air Show, an event that brings the biggest and the best in the industry, in London, hinted that, “he would also explore every

opportunity available at the show, to attract more prospective investors into the Nigerian aviation environment given the ongoing efforts to establish a Maintenance Repair and Overhaul (MRO) facility in Nigeria, Concession of some airports in the country and other components of the Aviation Roadmap the federal government launched at its inception.” “To this end, the Minister earlier, met with the Management of Standard Chartered Bank and is scheduled to meet the management of Boeing and other aircraft manufacturers on Tuesday,” he said. “Before the meetings, the minister had inspected the Nigerian stand at the weeklong International Air Show where he expressed satisfaction with the organisation,” he added.

of the court, which was established to prevent impunity, and try cases of genocide, war crimes, aggression, and crimes against humanity,” the statement added President Buhari yesterday met with the Dutch Prime Minister, Mark Rutte. The two leaders discussed issues relating to the fight against insurgency in the North-east, climate change, particularly the shrinkage of Lake Chad, economic cooperation, the fight against corruption and a range of other issues of mutual interest. Buhari highlighted the progress made in the fight against insurgency in the North-east, while the Dutch Prime Minister pledged the support of his government to anti-terrorism efforts in the region. In another statement yesterday, Senior Special Assistant to the

President on Media and Publicity, Malam Garuba Shehu said Buhari had directed the Minister of Foreign Affairs, Geoffrey Onyeama and the Minister of State for Aviation, Senator Hadi Sirika, to commence the process of repatriating Nigerians who went to Russia for the FIFA 2018 World Cup and were stranded after the competition. Shehu said some Nigerian football fans were stranded in the country following the activities of some unscrupulous travel agents whom he said cancelled their return tickets and abandoned them to their fate. Against this background, Shehu said Onyema and Sirika had in compliance with the president’s directive taken the necessary steps to bring back home the stranded Nigerians. According to him, the presidential

directive is in line with the policy of the current administration to ensure the welfare of all Nigerians in every part of the world, recalling that the Buhari administration had on several occasions ensured the repatriation of Nigerians from foreign countries like Libya and other conflict zones. Meanwhile, Nigerians in The Netherlands yesterday tasked President Muhammadu Buhari to end the protracted killings of innocent Nigerians in the country. They also tasked citizens to play active roles in the effort to end violence ravaging the country. This call was made when Buhari met with the Netherlands’ chapter of Nigerians in Diaspora Organisation (NIDO) on the sidelines of his official visit to The Hague, Netherlands, yesterday.

According to a statement by Adesina, NIDO Chairman, Julius Nwakpa while speaking on the security situation in Nigeria, urged both “the government and security team to accelerate stoppage of unfortunate killings in the country.” He said Nwankpa also tasked Nigerians “to play their roles in breaking the cycle of violence, which usually has no winner.” It also said Nwankpa commended Buhari on the war against corruption for which he said the president had “earned respect around the world,” adding that the NIDO Chairman commended the president on what he described as high improvement in infrastructural development, and for signing into law “the Diaspora Commission Bill,” which he hoped would “become effective as soon as possible.”

INVESTMENT MEETING

L-R: President Muhammadu Buhari; Plateau State Governor, Simon Lalong; Ambassador of Netherlands to Nigeria, Amb. Robert Petri and CEO, Heineken, Mr. Roland Primez, shortly after a roundtable meeting of Dutch CEOs and President Buhari, in Rotterdam...yesterday

Police Place N5m Bounty for Information on Killing of 11 Officers IG directs prompt, thorough investigation into attacks Senator Iroegbu in Abuja The Nigerian Police Force (NPF) has placed a N5 million bounty for the information that could lead to the arrest of the killers of over 11 police officers within two weeks. The Force Public Relations Officer (PRO), Deputy Commissioner of Police (DCP) Jimoh Moshood, in a statement yesterday, said the police were not going to rest until the suspected robbers or bandits behind the death of their colleagues in active duty were brought to book. Moshood said Inspector General of Police (IG), Ibrahim Idris, had called for prompt and urgent investigation into the killings of the seven police officers in Abuja and another four in Edo State by unknown gunmen in less than 14 days. He noted that the IG had already

set up a team of specialised crack investigation detectives, Police Scene of Crime Experts and Technical Intelligence Unit of the police force to investigate the ambush attack and killing of seven policemen, while on duty on July 2, 2018, by armed robbers/bandits at Galadimawa Roundabout, Abuja, with positive results. The PRO also noted that Idris had earlier ordered commissioners of police and their supervising Assistant Inspectors General (AIGs) of police to beef-up security in their Area of Responsibilities (AOR) and embark on massive raids of criminal hideouts and flashpoints across the country to forestall any further attack anywhere in the country. He said the police boss further placed the commissioners of police and police personnel nationwide on red-alert and directs 24-hour crime

prevention and police visibility patrol of flash and vulnerable points in their jurisdictions. “The commissioners of police were also mandated to re-gird their crime prevention and control strategies and work with community/religious leaders, other stakeholders and public spirited individuals to nip in the bud crimes and criminalities in their AOR,” he stated Moshood said the IGP had equally directed a thorough and discreet investigation into the recent ambush and killing of four policemen at Sabon Gida, Ora in Edo State on July 14, 2018 by armed robbers while on patrol. As a result of the ambush, he said, the police patrol vehicle burst into flame after the attack and the four policemen died in the process. The police spokesman added

that the investigation conducted so far had not establish any link between the two attacks, but public spirited individuals and other good Nigerians had been giving useful information to the police in the progressive investigation into the two unfortunate incidents. He added: “In order to arrest the other suspects still at large in the first incident, the force is desirous of more credible information from the public, and hereby pledges a reward of N500 million to any member of the public that provides useful information that would leads to the arrest of the remaining perpetrators of the ambush attack and killing of seven policemen in the Federal Capital Territory (FCT), Abuja, on July 2, 2018, or the recent ambush and killing of four policemen on patrol at Sabon Gida, Ora in Edo State on July 14, 2018.

T H I S D AY Ë¾ TUESDAY JULY 17, 2018

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T H I S D AY Ë¾ TUESDAY JULY 17, 2018

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COMMENT

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

THE ESSENCE OF FOCAC BEIJING SUMMIT China’s cooperation with Africa is a win-win situation, writes Zhou Pingjian

n April 2016, President Muhammadu Buhari paid a successful state visit to China. He was the first head of state from Africa President Xi Jinping received in Beijing shortly after the Johannesburg Summit of the Forum on China-Africa Cooperation (FOCAC). The two heads of state also held fruitful bilateral talks on the sidelines of the FOCAC summit in South Africa in December 2015. President Xi and President Buhari reached consensus to deepen China-Nigeria cooperation across-the-board. Under the guidance of the important consensus, the China-Nigeria relations have entered a new stage of rapid development. The implementation work of the outcome of the FOCAC Johannesburg Summit has been going smoothly with prominent achievements in Nigeria. I took the modern train from Kaduna to Abuja in November 2016. I shook hands with hardworking Nigerians and their CCECC teammates on the Lagos-Ibadan railway construction site in Papalanto last month. I have travelled to more than two-thirds of the 36 states across Nigeria in less than two years. I am fortunate to be an eyewitness of so many great things happening in this great nation in spite of the challenges it faces. And I feel proud that China has been proved to be a reliable partner of Nigeria in its pursuit of peace and prosperity. As President Buhari said on July 12 in his keynote address on the occasion of the commissioning of the first phase of the Abuja rail mass transit project, “I am thankful to the Government and people of China for their investment in the Nigerian economy. I commend the CCECC Limited-the Contracting Firm, for the quality of work and timely delivery of this project. Let me place on record the Nigerian government’s appreciation to the Government of China and the EXIM Bank of China for their support on this and many other projects currently being executed in the country. This gesture further cements the already existing cordial relations and developmental partnership between Nigeria and the People’s Republic of China.” As the largest developing country in the world, China highly values its relations with Nigeria, the largest developing country in Africa. Indeed, China-Nigeria cooperation is brotherly South-South cooperation between equal partners. China remains committed to stepping up its mutually beneficial cooperation with Nigeria in infrastructure, agriculture, industrial capacity, investment and other areas. We Chinese appreciate the African wisdom, “If you want to go fast, go alone; if you want to go far, go together.” As agreed by both the Chinese side and the African side, this September China will host the FOCAC Beijing Summit under the theme of China-Africa: Toward an Even Stronger Community with a Shared Future through Win-Win Cooperation. The FOCAC was incepted in 2000. The past 18 years have seen fruitful progress in China-Africa cooperation across the board. Two-way trade and China’s total non-financial investment in Africa in 2017 were 17 times and around 100 times that of 2000 respectively, which shows China’s contribution to Africa’s economic development has risen significantly. As a key platform for the collective dialogue and cooperation between China and African countries, the FOCAC has become a model of South-South cooperation and a banner of international cooperation with Africa for the whole world to see. China-Africa cooperation is universally welcomed and supported by the African countries. It is based on solid principles. The following three things set China-Africa cooperation apart: First,

CHINA EMPATHISES WITH AFRICA’S SITUATION AND TRIES TO HELP AFRICA CONTAIN DEBT RISKS AND RELIEVE THE PRESSURE OF REPAYMENT THROUGH ENCOURAGING ITS COMPANIES TO MAKE MORE DIRECT INVESTMENT TO AFRICA AND EXPLORING NEW MODELS SUCH AS PUBLIC-PRIVATE PARTNERSHIP

China’s cooperation with Africa has no political strings attached. China respects the will and needs of African countries. We treat each other as equals. No one party imposes its own terms on, or lectures, or exports models to the others, or attaches political strings to our cooperation. This is the hallmark of China’s cooperation with Africa. Second, China’s cooperation with Africa is a boost to local economic and social development. The debt problem in some African countries is the result of multiple factors and not unique to them. It is a “growing pain” that naturally emerges in the process of development and can only be eliminated in the course of further development. China is taking the initiative to align its development plan with those of African countries, helping them to build capacity for home-grown development, and undertaking a large number of projects that will make a big difference to economies and lives in Africa. Third, China’s cooperation with Africa is economically viable and win-win in nature. China understands the importance of debt sustainability in Africa and is helping Africa to improve its investment environment. As China’s financing to Africa is provided in a responsible manner, the associated risks are generally under control. China empathises with Africa’s situation and tries to help Africa contain debt risks and relieve the pressure of repayment through encouraging its companies to make more direct investment to Africa and exploring new models such as public-private partnership (PPP). Facts speak louder than words and fair-minded people can tell right from wrong. The benefits of China-Africa cooperation are abundantly clear. In keeping with the principle of extensive consultation, joint contribution and shared benefits, we are now making all-out efforts to advance the preparatory work for the Beijing Summit. Both sides will endeavour to combine the theme of the summit with the joint construction of the “Belt and Road” between China and Africa, the 2030 agenda for sustainable development of the United Nations, the agenda 2063 of the African Union as well as the development strategies of various African countries such as Nigeria’s Economic Recovery and Growth Plan (ERGP) to make new planning for win-win cooperation and open up new prospects for common development. The summit will unveil new measures for China-Africa all-round cooperation in the next stage. It is believed that under the joint efforts of China and Africa, the FOCAC Beijing Summit will surely become another historic event to strengthen China-Africa solidarity and cooperation. As President Xi said in his congratulatory message to the AU summit on July 1, he looks forward to participate in the Beijing summit with African leaders to discuss plans for the development of China-Africa cooperation so as to improve the well-being of the Chinese and African peoples and promote world peace and development. It is our firm belief that President Buhari’s attendance at the upcoming FOCAC Beijing Summit will make important contribution to China-Africa cooperation and bring about new opportunities for the comprehensive development of China-Nigeria strategic partnership. Dr. Pingjian is Ambassador of China to Nigeria

OSUN APC: A CASE FOR DIRECT PRIMARIES Direct primaries are in synch with the democratic tenet of the party, writes Ibidapo Balogun

arty primaries offer a unique opportunity for party members to critically examine aspirants for public office within its fold in order to make informed decisions as to which of them to sponsor for what office. It helps a political party assess itself, subject its aspirants to scrutiny with a view to ensuring that only the best are put forward for elections. It is akin to a test before the final examination. That test must be ideal in order to throw up high-quality candidates. If wrong people are sponsored for offices, the parties would pay for such on the day of reckoning, on election-day. As such, the process is as important as the primary election. In fact, the nomination process, the modality employed in picking the candidates, makes the primary election itself. If the wrong process is employed, it may invariably throw up wrong candidates for the poll. This is why the importance of the process can hardly be over stressed in leadership recruitment. The controversy in some quarters over the propriety or otherwise of direct primaries is therefore dismaying. It is an unnecessary debate, in my view. Direct primaries can hardly be faulted whichever way you view it. But in our clime the delegate system

holds sway within the political parties. It has become the order of the day. And not a few are worried about this seeming debauchery, which has only helped to corrupt the party nomination process, giving the prized tickets to the highest bidders in most cases. Evidently, that method is undemocratic. Because it leaves a large chunk of party members out of the critical decision on the choice of candidates. A dangerous development associated with the delegates system is that nothing is considered odd in an attempt to get the delegates to toe the lines of their sponsors, even the unusual, the unorthodox. There are stories of how delegates were made to swear on oaths in some evil forests in order to spiritually bind them to vote in a particular way. It is clear that those stridently opposing the use of direct primaries particularly in the All Progressives Congress are pursuing narrow personal agendas. But the agitation to get the party to do the right thing, by returning the decision on the choice of candidates back to the people, the party members, has since begun. It started during the time of the immediate-past chairman of the All Progressives Congress, Chief John Odigie-Oyegun. That leadership had argued, however, that it was too late then to revert to

direct primaries. Too late to do that which is right and democratic, many may enquire? The time to do what will restore credibility to the party’s nomination process is now. And it should start with the Osun APC governorship primaries. Expectedly, the nay-sayers have gone to work. There were reports in some newspapers at the weekend about some stalwarts moving to cause disquiet within the party in Osun over the mode of primary election to employ in picking its candidate for the September 22, 2018, governorship poll. The party’s constitution provides for both direct and indirect primaries, but it’s the direct primaries model that is in synch with the democratic tenet of the party. You may argue that it may create management problem as it may tend to be unwieldy, but INEC conducts election across parties and across the country. The agitation against direct primaries is therefore neither in the interest of the party, nor the interest of democracy, or in the interest of the party members. In fact, it is antithetical to all of them. On the contrary, however, evidence abounded of how direct primaries helped candidates, believed to enjoy popular support, from being oppressed by party overlords in the nomination process. Direct primary option

ensures a level-playing field and protects the nomination process from being hijacked by over-zealous party chieftains and desperate money bags. Osun chapter is a veritable place to re-set the nomination process button. The same system was used in picking incumbent Governor Rauf Aregbesola as the party’s candidate during his re-election in 2014. What began in 2014, therefore, should be continued. It should be taken beyond Ekiti. It is more participatory and gives all registered members of the party the opportunity to participate in the process. What is more, it is the best avenue for the party to assess its strength going into a general election, as it gives a fair idea of the party’s membership standing. The interesting thing, however, is only a few are opposed to direct primaries, even in the State of Osun. Again, the beautiful thing is the final decision on the matter, within the APC, ultimately rests with the party’s NEC through the National Working Committee. And a new Sheriff, who believes in fairness and transparency, is in town. The jury is out. Will the APC NWC do the right thing and return the nomination process to the path of rectitude? Balogun, a public affairs analyst, wrote from Abuja

T H I S D AY TUESDAY, JULY 17, 2018

EDITORIAL ADMIRALTY LAW AND TREATIES IN NIGERIA The government should urgently submit the act to the Egmont group

rganised by the Nigerian Shippers Council and the National Judicial Council with the theme “Institutional Excellence in Admiralty Law”, an international maritime seminar was held in Abuja last week to raise the consciousness of admiralty law among members of the bar and bench as well as other stakeholders in the sector. Some of the issues discussed were the rights of a cargo owner at the insolvency of the carrier, liability regime for carriage of goods by rail, road and inland waterways, piracy and armed robbery at sea as well as the application of international treaties to Nigerian laws and the draft convention on recognition of foreign judicial sale of ships. We must commend the conveners of the seminar, the Nigerian Shippers Council and National Judicial Council for bringing experts and practitioners together to share knowledge and experiences in managing maritime industry issues. The seminar also offered participants the opportunity to appreciate the commercial and WE URGE THE international nature AUTHORITIES of the admiralty law TO COMMENCE to Nigeria’s economic THE PROCESS OF development, thereby DOMESTICATING THOSE strengthening the link INTERNATIONAL RULES between the maritime industry, the judiciary AND CONVENTIONS and other important WHICH WILL GOVERN stakeholders. MARITIME ACTIVITIES Over the years, BETWEEN NIGERIA AND there has been an OTHER COUNTRIES appreciable level of awareness among judges on the importance of speedy resolution of admiralty disputes in the country. It was therefore no surprise that the discussions and resolutions at the sessions provided a treasure trove of information for relevant stakeholders in the maritime industry. But until the international treaties are domesticated, there are challenges that impinge not

Letters to the Editor

only on the sector but also on the national economy. To the extent that maritime is a global trade, any treaty signed by Nigeria has to be transformed into our local jurisprudence to enable it have the force of law. According to the Chief Justice of Nigeria, Walter Onnoghen in his address at the session, ‘’the domestication of some of the principles of International Admiralty laws into Nigerian legal framework as contained in the United Nations Convention on Carriage of Goods by Sea [Ratiﬁcation and Enforcement] Act and others are signiﬁcant milestones towards ground breaking legal practice in this sector in Nigeria.’’

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

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 BOLAJI ADEBIYI, 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

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.

PRAYING A COUNTRY INTO DEVELOPMENT?

igeria is a rolling disaster waiting to happen if concerted efforts are not put in place to fix it. It’s obvious we live each day in this country with uncertainties. Apart from not knowing when your maker has prepared for your homecoming, you have doubts in a country that is not known for any occurrence of any form of natural disaster. Prayers don’t develop countries. If it does, we’ve been praying since 1960 and still among the most terrible of all nations. It’s not prayers that made China, Russia, France, US, Malaysia, etc., who are economically, politically and technologically great today. Let me give you a brief illustration into my argument that development is a well-planned activity, not just a miracle that comes by. A young Russian boy was suffering a form of cancer. He wrote to President Vladimir Putin requesting the president to visit him on his hospital bed, where he would make a dying wish. President Putin visited him in the hospital and the boy complained of the absence of medical facilities to treat him. He died shortly afterward. When Putin learned of his death, he brought in German doctors who specialised in the ailment

his is what the annual seminar was established to achieve and it has contributed tremendously to the growth of admiralty law system in the country. But time has come for Nigeria to begin to navigate with the world so as not to be left behind. Maritime is fast becoming part of the digital economy and given its contributions, any treaty or law pertaining to that sector must be domesticated. We therefore call on the National Assembly to begin to look at some of them in the interest of the country. Much as we admit that such seminars are important for bridging the knowledge gap in admiralty law, it is pertinent to recommend that more participants be invited in future in order to expose them to some of the highly technical principles and applications of maritime disputes and adjudication. Undoubtedly, the maritime industry is important and strategic to Nigeria since it is the engine that drives the economy through trade facilitation. We therefore believe that the seminar will help bridge the gap and ensure expeditious dispensation of justice in admiralty cases for the overall interests of the country’s economy. We commend the commitment of the Nigerian Shippers Council and National Judicial Institute for always bringing members of the bench and other stakeholders together for the sake of instituting more comprehensive ways of attending to pressing marital issues of Nigeria’s economy. But they could do more. We urge the authorities to commence the process of domesticating those international rules and conventions which will govern maritime activities between Nigeria and other countries.

and other complications which led to the death of the young boy. The Russian President thereafter commissioned the building of a Specialist Hospital for that ailment. It was built and named after the boy, Dima Rogachev Oncology Specialist Hospital. Because of that hospital, cases of child deaths from cancer-related ailments have dropped by 90% in the region. German doctors still run it, training their Russian counterparts. It is also a Teaching Hospital for doctors to specialise in the field of Oncology. I’m forced to say these types of stories happen in societies where there are investigations into why some deaths occur. In other words, a culture of openness to learn the lesson, good governance to initiate and domesticate change and an empathetic, compassionate government that wants to leave a legacy for the greater good of all. But this is the mindset of leaders who want to change the status quo of their nation. From recent developments, former President Ibrahim Babangida suffered (suffers) Radiculopathy, and the erstwhile President Umaru Yar’Adua died of Pericarditis. Only God knows what ails President Muhammadu Buhari. What effort has been made to deepen learning in these fields to ensure less people die of the same ailment? Dike Chukwuma, chukydyk@yahoo.com

WHAT NEXT FOR THE CALIPHATE?

he peaceful caliphate woke up to unprovoked and totally mindless killings by unknown persons who invaded the state from a border town. The killings were brazen as over 35 innocent lives were lost, several houses and other property destroyed and over 10,000 people displaced; who are currently taking shelter in three different internally displaced persons (IDPs) camps. In addition to suppressed security reports, those that finger the federal government, its agents or likely fanatical followers of some key unnamed political actors at the centre, base their positions on three major planks: Governor Aminu Tambuwal’s recent public comments, condemning the lingering insecurity situation in the nation, in spite of the huge amount of money being spent on security by the Buhari administration. The governor had in his recent media statements, attributed the widespread killings and the seeming inability of the security agencies to secure lives and property of citizens to “failure of leadership” and ineptitude. He had also repeatedly called for the rejigging of the national security architecture in order to make it more effective and efficient. Secondly, the killings are viewed in certain

quarters in the state, as attack on Tambuwal’s novel agric policy, under the “Cattle Breeding, Milk and Beef Production Project”, which is designed to make the state a model of agric hub, essentially in the areas of animal husbandry that is driven by technology as against the current problematic mode of cattle herding in Nigeria. The successful management of the herdsmen and farmers relations, like governor Ganduje’s invitation to herders all over the country months ago, to come and take over the massive arable land in his state, is said to be offensive to a federal government that is determined to set up cattle colonies. The horrendous killings were curiously carried out in the same Rabah area of the state where this project is sited. Now that fear has gripped staffers and foreign partners, the project may suffer a major setback. Insight into the Sokoto State agriculture blueprint has a detailed roadmap of a technological template fashioned to dramatically improve the fortunes of the state in the agro-allied sector positively. It is a model designed to provide a realistic framework to be replicated in other states, with a view to bringing a new order of prosperous and peaceful nation, devoid of herders/farmers conflicts. Salihu Abdulahi, Sokoto

T H I S D AY • TUESDAY, JULY 17, 2018

POLITICS

Group Politics Editor NSEOBONG OKON-EKONG Email nseobong.okonekong@thisdaylive.com 08114495324 SMS ONLY

TRENDING NEWS

Catalogue of Winners, Losers in Ekiti Guber Election Raheem Akingbolu takes a cursory look at the significance of the 2018 governorship election in Ekiti State, especially the political fortune of the major characters The winners APC: For the All Progressive Congress (APC), the political platform of Ekiti State Governor-elect, Dr. John Kayode Fayemi, triumphing in the July 14 governorship election was an important feat, given its relevance to the current political permutation in the country. Before the election political pundits predicted that whatever comes out of the election, will set the tone for the 2019 presidential election. With its victory at the polls, APC has demonstrated that it is still relevant in the South-west. This has sent a strong message to the opposition. President Buhari: During the build-up campaign to the election, it was believed in some quarters that the contest was actually between the Federal Government, headed by President Muhammadu Buhari and Governor Ayodele Fayose of Ekiti State. The reason for such insinuation was because of the way the governor and members of the opposition attacked Buhari and rode on the perceived flaws of his administration to campaign against Fayemi. Governor Fayose’s insolent attitude during Buhari’s visit to Ekiti for the APC’s mega rally was an affront to the President. With his party’s victory, the president can walk with his head high. INEC: Before the election, all eyes were on the nation’s electoral umpire, the Independent National Electoral Commission (INEC), because of its strategic importance to the conduct of the election. As promised by its chairman, Prof. Mahmood Yakub, the election was conducted with utmost fairness to all the parties involved. The body provided a level playing field to all. As a result of this, the exercise went on smoothly, devoid of rancor or controversy. Bola Tinubu: The national leader of the APC, Bola Ahmed Tinubu was actively involved in the campaign to re-elect Fayemi. As a father figure of the party, especially in the South-west, apc’s victory reaffirmed Tinubu as the Commander-in-Chief of the APC garrison. He has successfully brought all the states in the South-west under the progressive umbrella. Kayode Fayemi: Considering the way Fayemi was ousted in 2014, with Peoples Democratic Party (PDP) winning in the entire

Under the current chairman of PDP, Prince Uche Secondus, the party has participated in two gubernatorial elections and lost the two; First in Anambra State and now in Ekiti. For a party that is just coming out of the effect of its failure in the 2015 presidential election, the recent development is a minus to the leadership of Mr. Secondus

Fayemi

Fayose

Buhari

Oshiomhole

IGP Idris

Uche Secondus

16 local government areas of the state, the re-election has vindicated Fayemi and his followers, who have consistently insisted that what happened in 2014 was not a reflection of the situation at the time. Perhaps, more than any other former governor in the country, Fayemi was the most criticised by his successor. The situation got to the peak when he was pronounced unfit for elective post for 10 years by a panel set up by Fayose. He had to approach the court to clear his name. With his victory at the polls, Fayemi has been handed another opportunity to reunite with Ekiti people. Adams Oshiomole: That Comrade Adams Oshiomole led his party to the victory barely one month after he assumed office as Chairman is no mean feat. At a time when the party was contending with the formation of rAPC, a collection of disgruntled nPDP, the outcome of the Ekiti governorship election may be an indication that Oshiomole’s leadership will strengthen the party. The victory will also boost and position the new chairman as he prepares to take his party on a journey to re-elect President Buhari. Ekiti People: Saturday, July 14 was a day Ekiti people demonstrated that they are brothers and sisters. At various polling booths, agents of the various parties didn’t only conduct themselves; they viewed the exercise like sportsmen. The people cast aside all the dire predictions as they conducted

themselves with the patience, sobriety and collective wisdom befitting the moment. Other Contestants: The fact that other contestants for the APC ticket like Chief Segun Oni, Opeyemi Bamidele, Senator Femi Ojudu and others stayed put in the party and worked for Fayemi’s victory also makes them winners. Contrary to insinuations that they might work for other parties, they remained loyal to the APC. Security Agents: Contrary to the overzealousness that often is associated with activities of security men in Nigeria. The men and women from various security agencies at the Ekiti governorship election went about their assignment with every sense of civility. Before, during and after the election, there was no report of harassment of Ekiti people and no report of aiding snatching of ballot boxes. Dayo Adeyeye and Other Decampees: Twice he has tried to be the governor of the state and twice his ambition was frustrated by Fayose. After Prince Dayo Adeyeye’s inability to win 2018 PDP primaries as a result of Fayose’s backing his opponent and deputy governor of the state, Prof. Kolapo Olusola, forced the former minister’s exit from the. He teamed up with the APC. Other prominent PDP members in the state, like a former Attorney-General of the State and Fayose’s strong ally, Owoseni Ajayi, a serving Senator, Fatimoh Raji Rasaki, a House of Representative member, Olumide Oni and a host of others also left PDP as a result of what they described as Fayose’s

selfishness and high handedness. The Losers PDP: From any angle one chooses to look at the July 14 election, it was a major setback for the PDP in the South-west. As the only PDP-controlled state, there was high expectation that the party could retain it. Uche Secondus: Under the current chairman of PDP, Prince Uche Secondus, the party has participated in two gubernatorial elections and lost the two; First in Anambra State and now in Ekiti. For a party that is just coming out of the effect of its failure in the 2015 presidential election, the recent development is a minus to the leadership of Mr. Secondus. Governor Fayose: Before the election, Fayose was viewed as someone with the key to the heart of Ekiti people. At every slight opportunity, he never failed to emphasise his popularity and acceptability. By rejecting his candidate and his party, Fayose’s political shrewdness has been punctured. Also, his spirit as the face of the opposition might have been dampened with the outcome of the election and this may affect the fortunes of PDP. Kolapo Olusola : A humble and loyal individual, Prof. Kolapo Olusola saw himself on the exalted seat of the state’s number one seat come October, but on the day of the election, Ekiti people gave the mandate to Fayemi. Unfortunately Olusola would not be able to use the election as launch pad for his political adventure.

T H I S D AY • TUESDAY, JULY 17, 2018

POLITICS

Potential Third Force Restrained by Clay Feet The leadership tussle in the All Progressives Grand Alliance (APGA) has been resolved by the Supreme Court of Nigeria. Segun James wonders if it will bring peace to a political party torn by perennial conflict

Chief Victor Oye

he All Progressives Grand Alliance (APGA) may appear to be chaotic, fractious and bafflingly inconsistent, but one issue that many politicians and watchers of the polity agree on is that the political party has the capacity to become the Third Force that the nation urgently needs, if it can keep its house in order. With the recent formation of an alliance by 36 political parties and the Peoples Democratic Party (PDP), politics in Nigeria maybe moving towards the largely desired goal of a two-party state. However, there may be a need for a third political party option. That is where APGA comes in. It is the only other party outside the All Progressives Congress (APC) and PDP which has consistent visibility on the political landscape, even if marginally. In 2013, APGA resisted the move to collapse into what is now called the APC despite severe pressures. Recently, it refused to be part of the 37 political party alliance which reached an understanding with the PDP. However, APGA has been enmeshed in a fratricidal leadership tussle between Chief Victor Oye and Chief Martin Agbaso that has stunted the growth of the party. Bedevilled by greed, inordinate ambition and hunger for power, the party’s progress appeared to be tied to a particular person or group. This has been largely responsible for the crisis that threatened to bury APGA. For years, For many years, while Senator Victor Umeh was the chairman of the party; it stumbled from one crisis to another until he finally gave up the position. For APGA, the road to becoming the third force opened when the Supreme Court in an unanimous judgment dismissed an appeal that was lodged by a faction of the party led by Chief Martin Agbaso over who the authentic national chairman of the party. In a lead judgment that was delivered by Justice Sidi Bage, the Supreme Court, upheld the August 16, 2017, verdict of the Court of Appeal in Enugu, which vacated the order of mandamus that directed the Independent National Electoral Commission, INEC, to relate

Chief Martin Agbassi

with and to recognise Agbaso as the authentic National Chairman of APGA. “In the final analysis, the two issues in the appeal are resolved in favour of the 1st Respondent. The appeal lacks merit and it is accordingly dismissed. The judgment of the lower court is affirmed. I make no order as to cost”, Justice Bage held. Other members of the panel that concurred with the lead verdict were Justices Rhodes Bode-Vigour, Mary Odili, Inyang Okoro and Amiru Sanusi. Similarly, the apex court panel dismissed a second leg of the appeal filed by the Deputy Chairman of APGA in Enugu State, Mr. Mike Alioke saying its decision to affirm two appellate court judgments that were delivered on August 15 and 16, 2017, with respect to Alioke’s appeal was based “on need to do substantial justice without delving into technicalities”. Justice Bage said the court was duty bound to look beyond “some technical blunders” and determine the case on its merit. “The issues are resolved in favour of the 1st Respondent”, he held. The battle for control of the APGA political machinery was triggered after an Enugu State

One of the clear signs of recovery in APGA is the peace moves coming from Oye, who has extended a hand of fellowship to his opponents

CJN walter Onnoghen

High Court, on May 22, 2017, gave an order of mandamus compelling INEC, Police and other authorities, to recognise Chief Agbaso as the National Chairman of the party. The order followed a motion that was filed by Alioke, who asked the court to direct INEC and Police to recognise a resolution by stakeholders of the party to appoint Agbaso as Acting National Chairman in the face of what was claimed as vacancies in the office. Some members of the National Working Committee (NWC) of the party had in October 2016, announced the suspension of Oye from the party for alleged gross misconduct. Oye was suspended alongside the Deputy National Chairman (North), Alhaji Abubakar Adamu and the Deputy National Chairman (South), Chief Uche Okogbuo, while Mr. Nwabueze Okafor (now late), was appointed as interim National Chairman. The late Okafor was the Vice Chairman of APGA in the South East, before he was chosen to replace Oye, a resolution that factionalised the party. In the wake of the crisis that erupted upon Okafor’s death, Alioke, in the motion he filed before the Enugu High Court, insisted that an order was necessary on the police to avoid a breakdown of law and order in the party. Following the Supreme Court’s ruling, Oye has extended a hand of fellowship to all aggrieved members of the party, urging them to close ranks and cooperate with him so as to move APGA forward. That Oye was able to pursue the case to its logical conclusion was because he had the support of Governor Willie Obiano. The Anambra State governor is the national leader of the party and the only governor produced by any other political party in the country outside of the APC and the PDP. With the resolution of the leadership tussle, when the final whistle for campaigns and selection of candidates in the polity is blown, will APGA be on the starting block nationwide? Not too long ago, it was safe to conclude that the party controlled the politics in the South-east region. It was considered an alternative to the PDP and the Action Congress of Nigeria (ACN).

This was the situation in the lifetime of the late Ikemba Nnewi, Chief Emeka OdumegwuOjukwu. His towering personality and political stature ensured that APGA rattled the PDP and wrested some states in the South-east from the then ruling party. Today, APGA only controls Anambra state. The moment Ojukwu died, the party began to shrink and stumbled from one crisis to the other. In fact, the immediate past governor of Anambra state, Mr. Peter Obi was forced to decamp to the PDP from where he launched an opposition to Obiano during last year’s governorship election. Obiano survived and was able to stabilise the party. In the middle of his re-building efforts, the chairmanship tussle errupted again. One of the clear signs of recovery in APGA is the peace moves coming from Oye, who has extended a hand of fellowship to his opponents. The APGA national chairman, in a statement posted on his official Facebook wall commended the judiciary for its courage and steadfastness in ensuring that Nigeria was not thrown into anarchy through what it described as “miscarriage of justice”. “It is with a joyous heart that we thank God Almighty for his banner over us and for guiding and guarding us throughout the duration of the trial that culminated in the momentous victory at the Supreme Court,” he wrote. He called for a rebirth in the party and concerted effort among members to ensure that the party has a good showing in the coming general elections. The resolution of the leadership crisis may have started, in the days ahead, political pundits are watching to see the ultimate beneficiary of the rebirth in APGA, even as the party struggles to find its soul and rise beyond the level of regional and ethnic politics. As the race towards the 2019 election hots up, APGA must retain, if not increase the number of political positions it holds in the various states in the country to remain relevant. The stark reality is that given the onslaught of the APC and the PDP, it may be difficult for apga to hold on to what it currently has unless.

TUESDAY, JULY 17, 2018 • T H I S D AY

FEATURES

Group Features Editor: Chiemelie Ezeobi Email chiemelie.ezeobi@thisdaylive.com 07010510430

Tackling Youth Unemployment As part of its commitment to support the Edo State government’s youth unemployment drive, the After School Graduate Programme recently organised a youth summit with focus on photography, solar power installation, and make-up. Ugo Aliogo reports

ishat Ikhelowa is an unassuming young prodigy. The graduate of University of Abuja was one of the youths who participated in the Edo Youth Summit/ Training organised by the After School Graduate Programme (AGDC), in collaboration with Edo State Government. Having heard about her from the Executive Director of AGDC, Mrs. Funmi Adeyemi, it proved to be an assignment to unravel the enigma that was Ikhelowa. The little information from Adeyemi was intentional. The onus was now on this reporter to discover who Ikhelowa was and what she stood for as an individual. Upon closer examination, it was discovered that Ikhelowa was one of the beneficiaries of the AGDC solar installation training/ workshop. Before attending the training and the summit, she was engaged in data analysis on freelance basis for private organisations and government agencies, a skill she learnt from an online platform. Self-development Ikhelowa believes strongly that self-developmental efforts through training seminars on youth development and skills acquisitions is a catalyst for driving economic prosperity and staying competitive in a technological-driven world. Her objective was to use these seminars and trainings to access micro-credit facilities such as loans in order to setup businesses. Therefore, when AGDC came calling with the summit and training, she saw it as one of those similar opportunities. But this was not to be as AGDC came with a different blueprint. The idea behind the AGDC summit was to redirect the mind-sets of many young people the organisation could find in the state, to start thinking of successful entrepreneurial activities they could embark on to change the economic landscape of the country. According to Ikhelowa, the training provided the opportunity for the participants to be taught advanced physics in a simplified way, which she described as amazing. She explained that the training provided her first; the opportunity to access a single digit interest loan, develop her skill-set in an area of her passion and transform her mind-set into an achiever’s mind-set, which she added was true for most participants. Plus for Communities Equipped with the practical training received, Ikhelowa and her team known as Green Fusion, are planning to electrify off-grid communities with clean and renewable (solar) energy, efficiently distribute it, and have it smartly consumed. Therefore the project will focus on adopting a smart Agrivoltaic Mini-grid co-developing the

After the successful exhibition of our prototype at the summit, we decided to build a business out of our newly acquired skillset and to further actively explore the world of solar energy through intensive research

CEO House of Tara, Mrs. Tara Durotoye; CEO ACT Foundation, Mrs. Osayi Alile, and Mrs. Funmi Adeyemi of AGDC

PHOTO: UGO ALIOHO

Some of the participants of the training

same area of land for both solar photovoltaic power as well as for conventional agriculture shade loving crops such as groundnut, cucumber, melon, and others capable of generating and distributing 150KW to electrify Ogiudo Community, located at Edo North, Edo state. She stated that the project design is intended to supply 200 homes (100 during peak hours while the other 100 during off-peak hours) 140Wh for seven hours during peak period (when the sun is shining) and eight hours off-peak period (when the sun is invisible) by using an array (300units) 500W groundmounted single axis solar trackers, which would enable them optimally harness energy from the sun by eliminating the effect of shadow. To provide electricity during the off-peak hours, they intend to store current in Vanadium Batteries (due to its efficiency, lifecycle and depth of discharge) through a matching charge controller. “Electricity would be distributed from the solar park to houses in the community through conduit (underground) cables and consumption would be monitored over digital meters with integrated power management software and anti-temper sensor (to avoid

innovative products which integrate solar energy with available technologies: smart toys for homes and cars, lamps, fans, laptops and phones power bank as well as train others. “At the training, we were taught on the need to change our mind-set. We were meant to understand that you are where you are because of your mind-set, as a result you cannot move forward and you intend to look at life from one perspective, instead of different perspectives. We were advised to change our mind-set to a positive one, and then we can achieve more in life.”

The Chairman, AGDC, Mrs. Ibukun Awosika

energy theft),” she noted. According to her, “After the successful exhibition of our prototype at the summit we decided to build a business out of our newly acquired skill-set and to further actively explore the world of solar energy through intensive research. “Also, we intend to develop and design

AGDC Summit Speaking on the objectives of the summit, Adeyemi noted that when youths are exposed to others who have become successful in different endeavours; they are able to come up with ideas on what they can do to stand out among their peers and how to go about it. She also stated that the facilitators brought to train the youths at the summit used their life experiences and stories to get the youths inspired and change their mind-set to think positively, adding that the training focused on three areas; photography, make-up and solar installation which she noted was aimed

• T H I S D AY TUESDAY, JULY 17, 2019

FEATURES at ensuring they are able to learn quickly. Adeyemi explained that the make-up master class went beyond the routine practice of making people up to focusing more on the beauty business, adding that the training encompassed make-up business, selling of make-up accessories, training them on the act, personal branding, prospecting for clients, book keeping and accounts management. The training on solar installation focused on installation solar panels. The trainees were shared into groups and given assignment on what they could do to address the power issues in their environment. Some groups came up with brilliant ideas. A group came up with the idea on how to produce power in cluster, due to the ingenuity of this idea; Adeyemi noted that they were given a space at the Micro Small Scale Enterprises (MSME) fair when the Vice-President, Prof. Yemi Osinbajo, visited the state. Photography was the third training they received. The trainees were exposed to the various aspects of photography and what they required to do in order to improve on the job. Aside from the regular five days of the training, two days were used to train them on how to write a business plan, market their product, customer service, identify potential client, and other areas. Panacea to Illegal Migration Before AGDC organised the training in Edo State, one of the deepest concerns of the governor, Godwin Obaseki, was how to tackle the continuous illegal migration of Edo youths to Europe through Libya. According to the governor, the state has lost over 20,000 youths in one year due to such illegal travel, adding that although the issue has remained a deep concern, just worrying about it was not the panacea. He needed a way out of this challenge. At a recent gathering, opportunity presented itself for Obaseki to get answers to the problems facing the state. He met with the Chairman of AGDC, Mrs. Ibunkun Awosika, a believer in youth entrepreneurship development. He shared the challenges facing the youths in the state, with a focus to partner with organisations committed in youth entrepreneurship development initiatives. AGDC accepted the proposal to assist the state in addressing the challenge. But they realised that funding would impede their work, therefore they approached Act Foundation with their proposal to seek financial grant to enable them carry out the initiative successfully. The proposal was approved. It is also noteworthy to state here that AGDC had worked in the state twice on youth cantered initiative in the past, which is their main area of focus. BOI Intervention The first stage of the summit/training was to teach the participants entrepreneurial skills for two days and five days was focused on teaching them technical skills in the three areas selected. The summit was the final stage which involved putting at least 5,000 people in a room and basically to inspire them to start something on their own. Adeyemi explained that at the third phase of the training, all participants trained and those that were able to come up with brilliant ideas would apply for the Youth Ignite Fund from Bank Of Industry (BOI) which she noted is a fund setup to assist young entrepreneurs to start business. She added that at the end of the training, House of Tara gave out small start-up kits to those in the cosmetology class. She further noted that the idea is that the loan from BOI is what would get them to start up properly, adding that they would facilitate the process of application of getting them funds from BOI till they get the money, “it would take a few weeks to get the funds depending on how fast the youths respond.” According to Adeyemi, “Act foundation supported us financially, as well as individual members invested their capital into the project. We had to augment it and do some things that the funding was not able to do. On a personal level, what I take out is that there is a lot of satisfaction that we have because we have touched some lives. When we were doing the training, there was a lot of the youth response. They wanted to connect with everything. They kept asking questions and wanting to know more. "The quality of ideas presented was very

The electrical learning tools for solar power installation class

The photography class at a practical session

good. The Nigeria youths are very brilliant and hardworking and purpose driven. We will empower those who show seriousness. The BOI money is not a grant, it is a loan. There is a reason behind making it loan so that people can develop the discipline of paying back. The youth ignite fund is one of the smallest in the BOI family. “If these trainees get the loan, utilise it as expected and then pay back as at when, this will allow them to move to the next level which is JEF and there is YES-P. So they start with the Youth ignite that is between N200 and one million, then move YES-P that is at N2.5 million. Then to JEF which is up to N5 million. But the individual must build a track record. They are supposed to then develop a habit of paying back and develop a track record so that as their businesses grow and they need to get more funding, it is easily available. "Once you have a good track record, you can always have a loan. This is the practice of all banks. The disbursement of the money is going to be done through a micro-finance bank which BOI has appointed there. They will be the one to do the money trade. From our own end we have setup a group.” EdoJob Partnership Another organisation, which supported AGDC in driving this initiative, is EdoJobs. The organisation is a programme setup by the state government to improve skills and job opportunities available in the state. They partnered with AGDC to spread the word about the upcoming the training and summit to the over 200,000 people registered on the EdoJobs portal. They also worked with their team on logistics, adding that the partnership with AGDC covered various areas such as how to apply and access funding, solar Power installation, make up and photography. On this Adeyemi said, “There was a strong desire to learn. We worked in partnership with EdoJob which is an initiative of the state government. They supported us a lot in the training and summit. They had sent message that the event will begin by 8a.m, but a lot of the youths arrived at 7am. "There is a yearning amongst the youths to do things, therefore getting the opportunities

and the support they would definitely do a lot. We need a lot of these types of initiatives because there are those who are committed in learning and become better." Also speaking, the Senior Special Adviser on Skills Development and Job Creation, Mrs. Ukinebo Dare, stated that they have also co-organised a youth summit where young people interacted with successful business owners and were able to share ideas and get guidance on how to be successful in career and business. She added that judging from the feedbacks they have received, the partnership would empower young people to start their businesses, access funds and be gainfully engaged in such a way that would prevent them from participating in illegal migration. Collaborative Effort There is no gainsaying that this venture wouldn't have worked without the collaborative effort of its partners. For the Chief Executive Officer, Aspire Coronation Trust (ACT) Foundation, Mrs. Osayi Alile, said AGDC is one of the 25 grantees they have partnered with for the 2018 ACT Foundation grant cycle, stating that as a partner their role goes beyond funding, “but also covers capacity development, training, to the management of the organisation, monitoring and evaluation during the duration of the project.” Alile explained that AGDC has always employed existing best practices in training and engaging their beneficiaries, noting that the exercise was a practical hands-on training for youths to acquire skills in the areas of solar power installation, cosmetology/makeup artistry and photography which she noted that they can use to start businesses of their own. Alile further noted that the programme focused on contemporary corporate culture, and relevant skills required in the workplace, adding that the intervention has been a big success in many ways, from the passion and excitement displayed by the project participants during and after the training. She added, “The quality of the content and areas of discussion was very rich, the breakout sessions was very engaging and it had an equal participation from everyone, the training was orderly and well organized, the

workshop was very practical and interactive. First, I must commend these entrepreneurs for taking up the challenge to go through the training and coming out successful. As they make plans to launch into the market I will advise that they focus on some key points. “Need for business development trainings. Though through our funding we provided business training workshops they need to continue this search to knowledge and improve and sharpen their business skills. Though funding is usually a challenge for budding entrepreneurs, the Bank of Industry (BOI) has provided soft loans for graduates of this training. And I urge them to seize the opportunity. “Mentoring is very important because not only does it provide a guide, it also helps in accountability. I urge these entrepreneurs to keep in touch with their facilitators and the great bunch at ACT Foundation who are constantly interested in their success. There is also room for continuous improvement and training to improve their skills and I urge them to keep abreast with innovations and technology which will make them outstanding in their various fields.” On her part, Chief Executive Officer, House of Tara, Mrs. Tara Durotoye, said during the training, they exposed the participants to the concept of a personal brand and values, stating it is remarkable to note that each participant had an idea which distinguished them. She also stated that each person felt stronger and sought ways to make their business stand out from the crowd by adding elements of personal value, adding that all the staff involved in the project reported a positive feeling especially from the angle of adding practical value to the participants. The House of Tara, Retail Manager, Happy Eboka, said the attitude and response of participants inspired her to remain a positive role model and it was heartening to see the positive impact. "House of Tara has trained over 20,000 make-up artists in the past 20years through our professional courses and Masterclass which are available nationwide. This course is particularly empowering as it offers an all-round approach to give participants a best chance to succeed immediately on graduation,” she noted.

IMAGES

L-R: President, Dangote Group, Alhaji Aliko Dangote; Managing Director, Bank of Industry (BOI), Olukayode Pitan and President/Chairman, Board of Directors, Afreximbank, Dr. Benedict Oramah, during the signing of the USD750 Million BOI facility Agreement at the 25th Annual General Meeting of Afreximbank, in Abuja at weekend

L-R: Ogun State Commissioner for Commerce and Industry, Otunba Bimbo Ashiru; Professor Oyinade Oduntola Olurin and Professor Akin Mabogunje, during the Adeola Odutola College Old Students Association (AOCOSA) 2018 Allumni Lecture, Award and Fund Raising Dinner, in Ijebu-Ode, Ogun State….. recently

T H I S D AY • TUESDAY, JULY 17, 2018

Photo Editor Abiodun Ajala Email abiodun.ajala@thisdaylive.com

L-R: Beneﬁciary of Airtel Touching Lives Season 4, Olanrewaju Komolafe; his wife, Adijat; Zonal Business Manager, West West Zone, Airtel Nigeria, Tolu Adeniyi and Olanrewaju’s son, Emmanuel, during the prize presentation of a fully stored ultra-modern shop and #500,000 worth educational support for Olanrewaju’s children, at the on-going Airtel Touching Lives Season 4, at Odo Ona Elewe, Ibadan…….recently

Governor of Jigawa State, Alhaji Badaru Abubakar (middle), ﬂanked by Immediate Past Captain, Ikeja Golf Club, Mr.Akin Areola (left), and OIC, Mr. Uwamai Igein, receiving the recognition trophy on behalf of Round Robin Golfers. during the just concluded governor’s cup, at Royal Golf Club-Dutse, Jigawa State……. recently

Minister of Finance, Mrs. Kemi Adeosun; Mission Chief for Nigeria, International Monetary Fund (IMF), Amine Mati and Deputy Division Chief, IMF, Charalambos Tsangarides, during a meeting with the oﬃcials of the Fund on the 2018 IMF Staﬀ visit in Abuja……recently

L-R: Executive Secretary, National Health Insurance Scheme, Prof. Yusuf Usman; Wife of Kwara State Governor, Mrs. Omolewa Ahmed; Governor, Abdufatah Ahmed; Speaker, Kwara State House of Assembly, Dr Ali Ahmed and Emir of Shonga, Dr Yahaya Haliru, during the oﬃcial launch of Kwara State Health Insurance Scheme (KWHIS), at State Banquet Hall, Ilorin...recently

L-R: President, Eko Club Lagos, Chief Tunde Fanimokun; Chief Operating Oﬃcer, Vyrus Digital, subsidiary of SO&U Deji Atunwa and Executive Director, Brand Management, SO&U Biodun Adeﬁla, receiving the Lifetime achievement award on behalf of their Group Managing Director, for his contribution in the Nigerian Marketing and brand Management Business, at the Marketing Edge Brands and Advertising Excellence Awards Ngiht, in Lagos…..recently

L-R: Chairman, Sahara Energy Group, Tonye Cole; One of the Panelist and Marketing Manager, Guinness Nigeria Plc, Omotola Bamigbaiye-Elatuyi; Vice Chancellor, Redeemer’s University, Prof. Debo Adeyewa; Managing Director/CEO, Synthesis Communications Limited and Publisher of BrandiQ Magazine, Desmond Ekeh and the CEO, Tony Elumelu Foundation, Parminder Vir, during the 2018 Redeemer’s University/ BrandiQ Youth Leadership

WEEKLY PULL-OUT

17.07.2018

‘STATE POLICE CANNOT BE DELAYED ANY FURTHER’

Daniel Hassan Bwala Danie

2/DASHBOARD

17.07.2018

Territorial Jurisdiction of Court to try an Accused Person: Determinant PAGE 4

Judges, Lawyers, Labour Leaders, Others, Pay Tribute to Late Adetola-Kaseem, SAN PAGE 5

Women Lawyers Association Condemns Herdsmen’s Needless Killings PAGE 5

Nomination Opens for the 2018 Edition of the Nigerian Legal Awards PAGE 5

QUOTABLES ‘Poverty can be eradicated. A better standard of living and improved development indices, are possible, by the actions of the State. So, the Legislature working with the Executive, must be able to create an environment, where the State is a proactive economic entity, able to produce wealth itself, independent of even the Federal Government, and independent of other States.’ – Professor Yemi Osinbajo, SAN, Vice President of the Federal Republic of Nigeria

EFCC Marks African AntiCorruption Day with Road Walk PAGE 6

‘Law is a Jealous Profession’ PAGE 6

‘With 86.9 million people living in extreme poverty in Nigeria, today, our country, sadly, is now dubbed the poverty capital of the world, surpassing India which has 7 times our population, but has 60.9 million persons living in extreme poverty.’ – A. B. Mahmoud, SAN, President, Nigerian Bar Association

COLUMNIST ABUBAKAR D. SANI Abubakar D. Sani holds a Bachelors degree from the University of Maiduguri, and has been in active private legal practice since he was called to the Nigerian Bar in 1987.He is the Principal of Abubakar D. Sani & Co., which has ofﬁces in Abuja and Kano. " INSIGHT" aims to unravel, analyse and proffer solutions to numerous anomalies in Nigerian law and practice, particularly statutes, vis-a-vis the Constitution, International Treaties and Conventions to which Nigeria is a signatory, Judicial Precedent and other relevant statutes and issues.

NBA Lagos Trains Lawyers on ADR PAGE 11

NBA-LIM Chair, Theodora Kio-Lawson, Bags ‘Tare-Yeri Star Award’ PAGE 11

ONIKEPO BRAITHWAITE EDITOR JUDE IGBANOI DEPUTY EDITOR AKINWALE AKINTUNDE REPORTER TUNDE BUSARI GROUP HEAD OCHI OGBUAKU II ART DIRECTOR

Amasa Firdaus: Hijab and the Fire Next Time

Disappointment et me start by repeating (I believe I have said it before), that I am the product of a Muslim Father and a Catholic Mother, so I have absolutely nothing against Muslims. My Uncle sends me Jumat Reflections every Friday, Ramadan Reflections during the holy month of Ramadan, and so on. I attend Muslim functions, and dress accordingly when I do. However, I was rather disappointed, about the decision to call Ms Amasa Firdaus to the Bar, adorning the hijab. Not only do I disagree with the decision, I believe that the timing is inappropriate. Yes, we all know that Section 38(1) of the 1999 Constitution of the Federal Republic of Nigeria (as amended in 2010)(the Constitution), provides for freedom of religion, but does this freedom extend to breaching/manipulating the lawful rules of a voluntary Association, that is, the regulation of dress for the members of the Nigerian Bar, bearing in mind the provision of Section 10 of the Constitution, which provides that there shall be no State religion in Nigeria? I’m not in any way saying that allowing Ms Firdaus to adorn her hijab under her wig and gown, translates to Islam now being Nigeria’s State religion. I just believe that, the decision goes against the spirit of Section 10 of the Constitution. The framers of the Constitution, in their wisdom, recognised the fact that Nigeria has diverse ethnic groups and religions, and that is why Sections like 14(3), (4), 10, and 42, were inserted into the Constitution. The most expedient thing to do, was/is to keep Nigeria as a secular nation.

I look forward to a member of a white garment Church adorning their sultana and fluffed head cover under the wig and gown, appearing bare foot, at a call to the Bar ceremony. By virtue of the decision to admit Ms Firdaus to the Bar adorning her hijab, disallowing an ‘Aladura’ dressed in their outfit from being called to the Bar, will be tantamount to discrimination, contrary to Section 42(1)(b) of the Constitution. Soon the call to the Bar ceremony, will resemble a colourful circus show, instead of the sober, distinguished affair which it is meant to be. Irregardless of the fact that Christianity and Islam, may probably be the two major religions of the world, as Nigerian citizens, we are all equal by virtue of the provisions of the Constitution, no matter what religion we practice. So, if Ms Firdaus can wear her hijab with her wig and gown, ‘Ifabunmi’ must also be allowed to wear his gear too! Like I asked a couple of weeks ago, where does it end? So, why start? Disunity I reiterate the fact that, in the 32 years since I returned home, after completing my studies abroad, Nigeria has never been so divided on the basis of ethnicity and religion, as it is today. And it is sad and ironic that, it is the Government and those that are in positions of authority, that seem to be fostering and fuelling this strife and disunity. For a country, which as an entity, has no specific/ official religion, we certainly have a funny way of showing it. In one of Senator Ben Bruce’s “I just want to make Common Sense series”, he decried the fact that Government gave Christians and Muslims favourable non-existent foreign exchange rates courtesy of public funds, to buy currency when they are going on holy pilgrimages

to Jerusalem and Mecca, instead of earmarking same, for more useful capital expenditure, pointing out that the essence of these religious trips, is for pilgrims to sacrifice to God, and not for Government to sacrifice to the detriment of all Nigerian citizens, for the ‘spiritual’ benefit of a few pilgrims! I concur. I have never seen the sense in it. It is such a shame, that our Leaders do not understand some of the basic “101” or Introduction to Democracy - unity is one of the essential tools for the sustenance of democracy. The common thread that runs through the definitions of ‘unity’, is oneness, joined together, being in accord, harmony. This is not to say that, because we are a nation, there will be no differences amongst us. How we resolve these differences however, is the key to lasting peace, unity and democracy. I believe that, one of the major reasons for the problems which we are experiencing in Nigeria today, is that those in positions of authority, are not circumspect when making decisions. Enough of self interest, self aggrandisement, and personal/ religious/tribal agendas! If those that made the decision to let the young lady wear the hijab for the call to the Bar ceremony, were thinking about Nigerians as a whole, and not just Muslims, with all the cries from various parts of the country about a purported attempt to Islamise Nigeria, accusations of ethnic cleansing and wanton killing of Christians by Herdsmen, they would have asked Ms Firdaus to use the viable alternative, wig cap/head scarf, worn by many other Muslim sisters. Did other Muslim sisters not remove their hijabs to be called to the Bar, the day she refused to? Is it worth breeding more resentment and bitterness amongst scores of people, just because of an individual’s personal religious conviction and adamance? Or is this another point scored, in the so-called ‘Islamisation agenda’? Voluntary Association It is pertinent to mention that the Nigerian Bar is a voluntary Association, which has a right to draw up its internal rules and regulations. All aspiring Lawyers, I would imagine, including Ms Firdaus, are usually well aware of our formal dress, even before making the decision to become Lawyers. In fact, some have said that it is the regalia, that is, the wig and gown, that attracted them to the profession, in the first place! It is trite that, a person who joins such an Association, cannot complain about the drawbacks of its rules and regulations. Such a dissatisfied person, has the option of quitting the Association. This is not to say that, all the rules of a voluntary Association are right, and must never change or evolve. After all, as they say, ‘the only thing constant in life, is change’. However, change should be positive, progressive and dynamic, not detrimental, regressive, divisive and capable of heating up an already boiling polity.

Onikepo Braithwaite in Veil tied as a Hijab

The Larger Picture I have always seen myself as detribalised, and not given to religious bigotry. But, with what has been going on, I have had cause to re-examine myself. Are people like me daft and idealistic, by being like that, (‘joko tetere’ as the Yorubas would say, that is, sitting down unperturbed), burying our heads in the sand, while others steadily and systematically, continue with the actualisation of an ethnic and religious domination agenda? The fact that they may deny it, does not

ONIKEPO BRAITHWAITE

THE ADVOCATE onikepo.braithwaite@thisdaylive.com onikepob@yahoo.com

“I HAVE ALWAYS SEEN MYSELF AS DETRIBALISED, AND NOT GIVEN TO RELIGIOUS BIGOTRY. BUT, WITH WHAT HAS BEEN GOING ON, I HAVE HAD CAUSE TO RE-EXAMINE MYSELF. ARE PEOPLE LIKE ME DAFT AND IDEALISTIC, BY BEING LIKE THAT.... BURYING OUR HEADS IN THE SAND, WHILE OTHERS STEADILY AND SYSTEMATICALLY, CONTINUE WITH THE ACTUALISATION OF AN ETHNIC AND RELIGIOUS DOMINATION AGENDA?”

make what may be fast becoming the obvious, any less true. Beware Nigerian Leaders! Placing too much emphasis on religion, or trying to put a particular religion over and above all others, in a multi-religious society like ours, is not likely to end well. In a country where we are faced with so many serious challenges, and seem to be bereft of game-changing ideas, it is strange that, instead of spending our time more purposefully, trying to resolve our issues, we revel in irrelevancies and wasting precious time creating more problems for ourselves. What Nigeria requires so very urgently, is non- partisan, good governance, to extricate us from the rut we are in, instead of religious bigotry!

4/LAW REPORT

17.07.2018

Territorial Jurisdiction of Court to try an Accused Person: Determinant

T Facts

he Appellant and two others, were arraigned on a three count charge of (1) obtaining money by false pretence; (2) intention to defraud and obtain the sum of N13,500,000.00 from one Awalu Abdulrahman by false pretence as value for transfer of the sum of $250,000.00 to him through his brother, one Alhaji Nurudeen, resident in Ghana; and (3) obtaining with intent to defraud, the sum of $143,620.00 from one Awalu Abdulrahman as value for the transfer of the sum of $250,000.00 to him through his brother, Alhaji Nurudeen. The Appellant pleaded not guilty to the Charge. After hearing the evidence of parties, the trial Court delivered its judgement, convicting the Appellant on the three counts and sentenced him to 10 years imprisonment on each count, running concurrently. The Appellant unsuccessfully challenged the judgement, at the Court of Appeal; and further appealed to the Supreme Court. Issues for Determination The issues for determination were: (1) Whether the Court of Appeal was right in affirming the conviction and sentence of the Appellant, when the trial Court lacked jurisdiction to try the Appellant for the offences; and (2) Whether the Prosecution proved its case beyond reasonable doubt against the Appellant, to warrant the Court of Appeal upholding the conviction. Arguments For the Appellant, it was argued that all the transactions which led to the commission of the offences took place in Lagos; hence, the Court lacked the territorial jurisdiction to try the Appellant in Abuja, since no aspect of the offence occurred in Abuja. Counsel posited that the mere mention of Abuja in the count, did not clothe the trial Court with the territorial jurisdiction to determine the matter; and that the Respondent failed to prove conspiracy between the Appellant and any other person, to commit the offences. Counsel for the Respondent contended that, one Sani Musa (at large), was part of the team that met with PW1 at his office in Abuja, and the co-conspirator with the Appellant. Relying on the law that, when a co-conspirator does an act or makes an omission in furtherance of a conspiracy, the act or omission is ascribable to all the conspirators, it was submitted that, the meeting of Musa in Abuja, was an element of the offence on which the Appellant was convicted. Court’s Judgement and Rationale The Supreme Court noted that, the practice of two codes for criminal law (Criminal Code and Penal Code), in the same country, had along with it inherent problems of jurisdiction. Relying on the decision in SIRDAR GURDYAL SINGH v RAJAH OF FARIDKOTE (1984) A.C 670, where Lord Watson had observed that, territorial jurisdiction attaches to a person when resident within the territory, but does not follow him after withdrawing from it, the Court agreed that if a law is restricted by territory, that law cannot be applied outside that territory. However, if an offence is committed outside Nigeria, but part was committed in Nigeria, the Courts would assume jurisdiction to try the case in Nigeria. The Court held further that, if a crime with multiple elements happened in different States, the position of the law is that, each State has the right to try the offender and punish him, as if all the elements of the offence were carried out in that State. Their Lordships also cleared the air, as to the mode of entry into the territory where the crime is concluded. Relying on PATRICK NJOVENS v THE STATE (1973) 1 NMLR 331, that the entry into territory in which a crime was committed, could be effected by arrest and not necessarily voluntarily. In the instant case, the meeting of Sani Musa with PW1 at his office in Abuja, was an element of the offence on which the Appellant was convicted as it is the law that when a co-conspirator does an act or makes an omission in furtherance of conspiracy, his act or omission is ascribable and binding on all the conspirators. In IKWUNNE v STATE (2000) 5 NWLR (PT. 658) 550, Tobi JCA (as he then was), had explained that in the offence of conspiracy, the conspirators may be in direct communication in respect of the offence, and only one person may be the hub of which the others revolve in respect of the offence. Thus, it is possible for the offence to be committed by the persons who have not met themselves,

Hon. Justice Kumai Bayang Aka’ahs, JSC

In the Supreme Court of Nigeria Holden at Abuja On Friday, the 23rd day of March, 2018 Before Their Lordships Ibrahim Tanko Muhammad Olukayode Ariwoola Kumai Bayang Aka’ahs John Inyang Okoro Paul Adamu Galinje Justices, Supreme Court SC.160/2015 Between Joseph Morah .........Appellant And Federal Republic of Nigeria.....Respondent (Lead Judgement delivered by Hon. Kumai Bayang Aka’ahs, JSC)

and conspirators need not be seen together planning the offence. Further, in a charge of conspiracy, the Prosecution has the burden to prove not only the inchoate nature of the

“......IF A CRIME WITH MULTIPLE ELEMENTS HAPPENED IN DIFFERENT STATES, THE POSITION OF THE LAW IS THAT, EACH STATE HAS THE RIGHT TO TRY THE OFFENDER AND PUNISH HIM, AS IF ALL THE ELEMENTS OF THE OFFENCE WERE CARRIED OUT IN THAT STATE”

offence, but also the meeting of the minds of the accused persons, with a common intention and purpose to commit a particular offence. GBADAMOSI & ORS v THE STATE (1991) 6 NWLR (PT.196) 182. Relying on the provisions of Section 8(1) of the Evidence Act 2011, where there is a reasonable ground to believe that two or more persons have conspired to commit an offence, anything said, done by any of such persons in execution of furtherance of their common intention, is a relevant fact as against each of the persons believed to be conspiring, for the purpose of proving the existence of the conspiracy. In this case, the entry of the Appellant into Abuja, where an initial element of the offence took place, imbued the High Court of Abuja, the jurisdiction to try the Appellant. Therefore, whenever an issue of venue for the trial of an accused comes up for determination, the most appropriate way of resolving it, is to identify the offence charged and the elements which constitute the offence as contained in the proofs of evidence, as this would help to determine whether any acts of the Accused Persons constituting the offence occurred within the vicinity of the place where the he is being tried. PW1 herein, was in Abuja, when DW1 informed him they had $1.6million USD in Ghana for sale. PW1 who was only able to purchase the sum of $250,000.00 called his brother, Alhaji Nurudeen in Ghana to contact DW1’s Alhaji Sani to confirm the transaction. After Alhaji Sani showed the money to Alhaji Nurudeen, PW1, travelled to Lagos where the 1st Accused Person, the Appellant and one Elvis met with him at the Bank in Marina to collect the cash in the sum of N13.5million being an equivalent of $100,000.00 and the sum of N20,250,420.00 as value for the balance of $143,620.00 from his brother Mahdi, after they rejected the cheque he offered. Afterwards, the Appellant and Elvis headed to Apapa where they were to drop the money for the owner, but Mahdi who accompanied them, was pushed off the Taxi. PW1 thereafter, called his brother in Ghana to confirm the sum of $250,000.00, but found out that no such money was received. The Appellant’s account was different, where he claimed to have sold a car to Elvis leaving a balance sum of N500,000.00, which was to be collected at the Bank in Marina. His evidence was however, punctured by his extra judicial statement where he said that the N500,000.00 was the commission he earned for the transaction Elvis entered into in Ghana, involving the sum of N32.5million. The Supreme Court agreed with the learned trial Judge, that the following facts were established: (1) the 2nd Accused Person knew about the transaction from the beginning; (2) he had a long standing relationship with Elvis who was at large and had been communicating with him in respect of the transaction; (3) he was at the Bank when the money was paid by PW1; (4) he joined the taxi and left in the company of the 1st Accused Person, Elvis and PW2; and (5) he, in agreement with Elvis, gave the 1st Accused Person the sum of N750,000.00. The Court also found that the Appellant connived and agreed with Elvis and others who were at large, to obtain money under false pretences, contrary to the relevant Section of the Advance Fee Fraud and Other Fraud Related Offences and thereby, guilty of conspiracy. The element of the offence was the collection of money in Lagos, as the Court noted that, proving the initial elements of the offence was not dependent on the 1st Accused Person’s knowledge and participation in the conspiracy. As such, his acquittal and discharge could not affect the trial of the Appellant. The Supreme Court agreed with the lower Court, that the learned trial Judge rightly assumed jurisdiction to try the Appellant in Abuja. On the two other counts, the Court held that, since there was no denial by the Appellant that he collected the various sums in issue, the ingredients of obtaining money by false pretences had been fully established against the Appellant in counts 2 and 3. On the whole, finding no merit in the appeal, the concurrent judgements of the lower Courts dismissing the appeal, were therefore affirmed. Appeal Dismissed. Representation Yunus Lambo Akanbi Esq. with K.T. Sulyman and Evelyn Eyang Takon for the Appellant Chile Okoroma Esq. with Ola Oji and I. Diribe for the Respondent. Reported by Optimum Publishers Limited (Publishers of the Nigerian Monthly Law Reports (NMLR))

17.07.2018

NEWS/5

L-R: The widow, Mrs. Adetola-Kaseem, Hon. Justice Habeeb Abiru of the Court of Appeal, President of the National Industrial Court of Nigeria, Hon. Justice Babatunde Adejumo and lead Speaker, Professor Hakeem A. Olaniyan of the University of Lagos at the event, last Wednesday

L-R: Abimbola Bajomo, Head, Human Resources, Lere Fashola, CEO and Kehinde Fashola, Head, Strategy, Marketing and Corporate Performance; all of Legal Blitz Ltd., at the Press Conference to announce this 2018 Edition of the ESQ Legal Awards, in Lagos, last Wednesday

Judges, Lawyers, Labour Leaders, Others, Pay Tribute to Late Adetola-Kaseem, SAN Akinwale Akintunde It was a day of glowing tributes for late Senior Advocate of Nigeria, Chief Gani Adetola-Kaseem, as Jurists, Lawyers, Labour Leaders and Rights Activists, came together at a Tribute Lecture organised in his honour in Lagos, last Thursday. The Lecture tagged: ‘The Development of the Nigerian Labour Jurisprudence: The Role of Chief Gani Adetola-Kaseem, SAN (1948-2018), which held at the Sheba Centre, Mobolaji Bank-Anthony Way, Ikeja, was organised by a group identified as the “Committee of Friends”. Professor Hakeem A. Olaniyan of the University of Lagos, delivered the Lecture, while

the President of Nigeria Labour Congress (NLC), Dr. Ayuba Wabba, was the Special Guest of Honour. Speaking as the Chairman of the occasion, President of the National Industrial Court of Nigeria (NICN), Hon. Justice Babatunde Adejumo, lauded the effort of the late Chief Gani Adetola-Kaseem, SAN, for his numerous sacrifices and remarkable role in the development of Labour Law Jurisprudence, both in Nigeria and Africa as a whole. Justice Adejumo stated that late Adetola-Kassem’s contribution to the realisation of the Third Alteration Act of the 1999 Constitution that conferred exclusive jurisdiction on labour and

employment matters on the National Industrial Court of Nigeria (NICN), thereby enhancing social justice and economic development, cannot be quantified. “He contributed significantly to the realisation of the National Industrial Court of Nigeria as a superior court of record today, pursuant to the Third Alteration Act of the 1999 Constitution. History will forever be kind to him”, Justice Adejumo eulogised. The NLC President, Comrade Ayuba Wabba, in his Tribute to the late icon, spoke about the late Gani Adetola-Kaseem’s doggedness and relentless sacrifice to the growth of the Labour Union in Nigeria, for offering of pro-bono

services to the Union. He described ‘SAN’ as he was fondly called, as a strong advocate of internal dispute resolution mechanisms. His wise counsel were invaluable, in both legal and general affairs of life. “SAN used his intellect and legal skills, for the services of the Union, and in the course of such efforts, he has won many landmark cases that enhanced our jurisdictional scope, saved our Union from being balkanised by some wolves who masqueraded as Union leaders”, said Wabba. Professor Olaniyan, the lead speaker, described the late Adetola-Kaseem, as a thoroughbred and unasCONTINUED ON PAGE 10

Nomination Opens for the 2018 Edition of the Nigerian Legal Awards Akinwale Akintunde The 2018 edition of the annual Nigerian Legal Awards launched recently, with a call for the leading Nigerian law firms and In-House Legal Departments to submit entries. The awards Convener and Chief Executive Officer (CEO) of Legal Blitz Ltd, and Publisher of ESQ Legal Practice Magazine, Lere Fashola, disclosed that this year’s edition, which will be the 6th, will stand out, with the introduction of several innovative features and awards. Fashola said, the Award celebrates the important contribution of Lawyers, to the Nigerian economy. “The Award reviews and analyses the various landmark commercial deals across the various sectors of the Nigerian economy, and honours outstanding law

firms and legal professionals in Nigeria and in the diaspora, who have contributed to the successful execution of the deals. “The award reflects preeminence in key transactions, practice areas, and achievements, over a period of 18 months, including notable work, strategic growth, excellence in client service, and contribution to the legal profession at large. “For details of nomination and categories of award, please visit www.esq-law. com/awards. “To ensure credibility, informed analysis of the various deals, we have appointed leading general counsel and business leaders with vast experience in their chosen sectors, and across the various sectors, such as Judges. “The in-depth research of

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Women Lawyers Association Condemns New Partners Admitted to Africa Herdsmen’s Needless Killings Legal Practice Akinwale Akintunde African Women Lawyers Association (AWLA), has condemned the incessant and needless killings of innocent people and destruction of property, in the Middle Belt and its environs, by the Fulani Herdsmen. A statement issued by the group and signed by its President, Mandy Asagba, also expressed worries about the near absence of protection of the people, by the Authorities charged with the responsibility of providing safety and security of its citizenry. The group called on President Muhammadu Buhari and all the necessary security agencies, to put an end to the killings with immediate effect, and provide adequate and tight security at all the affected areas, schools and other public places, as well as farmlands. They also demanded that the perpetrators be prosecuted, to prevent further violence. “We condemn in its entirety, the incessant and needless killings of people and destruction

of property in the Middle Belt and its environs, by the Fulani Herdsmen and bandits, as well as the near absence of protection of the people by the Authorities charged with the responsibility of providing safety and security of its citizenry. “This is very worrisome and disheartening, to imagine that to date the killings have not stopped, but rather, are getting worse by the day. “We call on the Commanderin-Chief of the Armed Forces, the President of the Federal Republic of Nigeria, and all the necessary security agencies, to put an end to this killings with immediate effect, and provide adequate and tight security in all the affected areas, schools, and other public places, as well as farm lands. “We also demand that, the perpetrators be prosecuted, to prevent further violence. We desire also that, the Internally Displaced Persons (IDPs) are given adequate protection and care, especially the women and children, who are the worst hit. We call on all Nigerians, to lend a helping hand to the victims of

these attacks, who are living in fear, hopelessness and hunger. “We commiserate with families of the victims, and pray that the Lord grant them the fortitude to bear this irreparable loss. We are also appealing to well meaning citizens, who can assist with information, to please, send such information to the appropriate authorities. “In addition, we suggest that the State Governors of the affected States, should be proactive, they should think outside the box, they have security funds which can be channeled towards providing adequate security to their citizens. It is clear that some of these herders/bandits may not be Nigerians, so our borders must have adequate security. They should take a cue from the Lagos State Government, by setting up Security Trust Funds. “They should also collaborate with the Government from neighbouring countries they share borders with, to tighten security”, AWLA stated.

Africa Law Practice (ALP), announces the admission of two new Partners, effective July 1, 2018, bringing the number of Partners in ALP to six. The new Partners practice in both the Corporate & Commercial and Litigation & Dispute Resolution divisions of the Firm. Joining ALP from inception, M. Bello Salihu is a Commercial Dispute Resolution Practitioner with significant and varied commercial litigation and international commercial & investment arbitration experience. His case work specialisation is cross-border asset-tracing and

recovery. “We are honoured to welcome Bello to Senior Management”, says Olasupo Shasore, SAN. “He is an excellent Barrister, and one of the few Nigerian International Arbitration Practitioners with significant ICSID arbitration experience. With his hands-on commitment, demonstrable leadership and talent for problem-solving, Bello has had a major impact on the firm and our clients”. Atinuke Y. Dosunmu, formerly a Partner at Gravitas Law Firm, joins ALP with considerable transaction experience in Independent Power Projects and in general

M. Bello Salihu

Atinuke Y. Dosunmu

Energy Sector advice. Her practice areas include aviation, e-commerce, mining and solid minerals, project finance, M & A, trademarks and arbitration. Her corporate commercial advice experience includes, work as inhouse counsel in the banking industry. Atinuke brings to the firm, a razorsharp mind and an ability to provide creative solutions to complex cross-border transactions. A strong believer in the concept of law as a tool for socioeconomic development, Atinuke served on the Lagos State Law Reform Commission as a member of the Ad Hoc Advisory Committee (Trade and Commercial Law Sub-Committee), on a project that culminated in the enactment of the Laws of Lagos State 2015 The new admissions, are in keeping with ALP’s policy of enabling the mobility of young Practitioners, as well as the quest to increase capacity at all levels of the Firm’s practice.

17.07.2018

EFCC Marks African Anti-Corruption Day with Road Walk Akinwale Akintunde The Economic and Financial Crimes Commission (EFCC), last Wednesday, marked the 2018 African Anti-Corruption Day, with a road walk across major roads on the Lagos Island. The road walk, which was led by EFCC Zonal Head in Lagos, Mr. Akaninyene Ezima, was aimed at sensitising the public, particularly the youths, on the dangers of corruption, and the role which they should play, in fighting the malaise. The walk, with the theme, “Winning the Fight Against Corruption: A Sustainable Path to Africa’s Transformation”, took off from the EFCC Zonal Office on Awolowo Road in Ikoyi, to Dodan Barracks, Obalende, to Tafawa Balewa Square. Participants, which included EFCC officials, Dr. Joe Okei-Odumakin, the President of the Rights group “Women Arise for Change Initiative”, Mr. Timothy Melaye, Head, InterGovernmental Action Group against Money Laundering and Terrorism Financing in West Africa (GIABA), National Youth Service Corps (NYSC) members, the Nigeria Police, members of Nigeria Security and Civil Defence Corps, amongst others were singing and dancing, as they had Red Cards boldly inscribed on their Shirts, to symbolically send corruption out of Nigeria. They also carried banners and placards with messages such as, ‘Say No to Corruption’, ‘End Corruption Now’, ‘Corruption Kills’, ‘Corruption, Our Greatest Enemy’, written on them. Others had, ‘Kill Corruption Now’, ‘Do not be Silent, Blow the Whistle to fight Corruption’ and ‘Let us make Nigeria Great Again’, written on theirs. Speaking at the occasion, the Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, urged Nigerians to unite against corruption for sustainable development in the country. Magu, whose speech was read by Ezinma,

Participants on the Road Walk

reiterated the determination of the Commission to win the war against corruption, saying the war against corruption cannot be won by EFCC alone. According to him, the commemoration of the day, had its roots in a series of events. Magu said the Heads of State and Governments of the African Union (AU), on July 11, 2003, unanimously adopted the African Convention on Preventing and Combating Corruption. He said subsequently, the AU declared July 11 of every year, for the commemoration of the African Anti-Corruption Day. He also said that, the successes recorded culminated in making the year 2018 as the “African Year of Combating Corruption”.

“Hence our gathering today for the road walk against corruption, is part of such commemoration”, the acting Chairman said. He also said that, the 2018 event, was a unique resonance coming against the backdrop of the 2018 declaration with the theme: “Winning the Fight Against Corruption: A Sustainable Path to Africa’s Transformation “. He further said that, the designation of President Muhammadu Buhari as the Africa’s Anti-Corruption Champion, added ‘distinct Nigerian flavour’ to the 2018 event, with the EFCC driving the process. Magu said Nigeria and all other members of the AU, were marking the day. He noted that, Nigeria had one of the most

extensive and deeply entrenched culture of corruption on the African continent. “The depth and gravity of corruption in our, country is alarming. “This is because, our country has one of the most extensive and deeply entrenched cultures of corruption on the African continent, if not universally. “This is an indication that, we are determined to win the corruption war, no matter how long it will take. “The Commission has traced and recovered illicit funds, as well as properties worth billions of Dollars. “This level of corruption is shocking, destructive, and totally unacceptable”, he said.

Legal Personality of the Week Simeon Oyakhilome Okoduwa

‘Law is a Jealous Profession’ My name is Simeon Oyakhilome Okoduwa and I am a Partner in Alliance Law Firm, which is a full service Law Firm. I attended the CMS Grammar School, Bariga, from where I gained admission to read law at OAU Ile-Ife in 1987. I graduated from the University in 1991, and was called to the bar in 1992. I undertook my NYSC between 1992 and 1993 and have since obtained my LLM and become a Chartered Arbitrator. My core areas of expertise include Corporate and Commercial Law Practice, Litigation & ADR and Doing Business Advisory. I started my professional career by undertaking active legal practice, appearing before every hierarchy of the Nigerian Judicial System between 1993 and 2004. Thereafter, I forayed into banking. Over the course of my banking career, which spanned stints in UBA Plc, Citibank Nigeria Limited and Keystone Bank Limited, I rose through the ranks to assume several senior management positions/roles. Specifically, I acted variously as Head-Legal Support & Advisory Unit in the Legal Services Division (UBA Plc); Manager heading the Litigation Unit in the Legal & Company Secretary Division (Citibank Nigeria Limited). At Keystone Bank Limited, I held several positions including: Chief Legal and Compliance Officer-Investment Banking and Subsidiaries Group. I resigned from Keystone Bank Limited as an Assistant General Manager, and returned to active Legal practice in September 2017. I am an avid reader. I love sports, travelling and maintain a passion for charitable and developmental causes. I am married with children.

justice administration system in our country. As you know, justice delayed is justice denied. The length of time that it takes to initiate and conclude causes of action in our courts, is unacceptably long. Some of the challenges that must receive mention here include our poor court infrastructure, which compel most of our Judges to take notes in long hand, the gross mismatch between the sheer size of litigants and the available courts to hear and determine their matters, avoidable gamesmanship by counsel on behalf of their clients, and general poor funding for the Judiciary.

Have you had any challenges in your career as a Lawyer, and if so, what were the main challenges? The major challenge, relates to the slow

What was your worst day as a Lawyer? The closest to that, might be when, in my early practice, my firm had a fundamental rights matter thrown out on technical grounds.

Simeon Oyakhilome Okoduwa

That said, might I add that, the entrenchment of any form of injustice by society which, by its very nature, cannot be singlehandedly resolved, comprise the class of scenarios that could constitute a series of bad days for me. For example, every time court orders are flagrantly violated by government or its agencies, whose smooth functioning is supported by our taxes, it is extremely saddening. Every time that there are human rights abuses, and the credible evidence required to support a cause of action in court cannot be secured, it is disheartening.

in their own way, helped form who I have become professionally. However, as a person, I would say without equivocation, the Lord Almighty.

What was your most memorable experience as a Lawyer? My most memorable experience, was securing the liberty of a client who, in a politically charged case full of intrigues, had been falsely accused of various offences, in a bid to keep him out of circulation. I should mention that circumscribing the personal liberty of a free citizen, unjustly, is one of the worst experiences, which a man can have. His human dignity is impugned, his family is subjected to emotional turmoil, his means of livelihood is truncated, and we could go on and on. Not much can rival the comfort that, the instrument of the law could be depended upon to right injustices to ordinary citizens of this country, and the satisfaction derivable from the relieved faces of clients whose loved ones have regained their freedom, or secured justice for injury committed against them.

What would your advice be to anyone wanting a career in law? I would offer three career-sustaining pillars. First, Law practice is a jealous profession; you must be ready to make a substantial time commitment if you plan to have a successful go at it. Secondly, resolve to "give" to the Law first, and then the Law will reward you abundantly. Thirdly, develop yourself constantly, specialise in an area of comparative advantage and remember, always, that being a business, you must always position yourself for competitive advantage, in a service-oriented industry that Law Practice is.

Who has been most inﬂuential in your life? In my professional career, these gentlemen in no particular order of importance: Ken Mozia, SAN; Ferdinand Orbih, SAN; Ehiogie West-Idahosa and Lovely Erhabor. At various milestone points in my career, they have each

Why did you become a Lawyer? I realised early that, I had a deep sense of revulsion for injustice, and I had the accompanying gifts of good written/ spoken language and persuasion. I knew the practice of Law was the natural place to pursue those passions/ gifts, and also earn a living from.

If you had not become a Lawyer, what career would you have chosen? I would have become a Public Speaker and Life Coach. Where do you see yourself in ten years? Overseeing a framework, for pursuing developmental causes and changing lives. These are passions that drive my every activity, and interaction with my environment. I hope and pray that, someday, I will retire in good health to enmesh myself in these causes, and continue to impact my environment and world in this way.

17.07.2018

INSIGHT ABUBAKAR D. SANI

xL4sure@yahoo.com

Executive Order No. 6: Is the Devil in the Detail?

he overwhelmingly negative public reaction to the Preservation Of Suspicious Assets Connected With Corruption And Other Relevant Offences Order (Executive Order No. 6 of 2018), recently signed by President Muhammadu Buhari, is somewhat surprising, given that virtually everyone agrees that corruption is an endemic malaise, which must be treated as a national emergency. Amongst others, those criticisms point to the Order’s perceived violation of the principle of separation of powers under the Constitution, given the seemingly arbitrary powers which it confers on the Attorney-General of the Federation (AGF), to unilaterally confiscate the asset of any Nigerian simply by publishing it in a List. Is that really the case, or is that charge (and others like it), misplaced? Does the Order contain any safeguards for ensuring that constitutional guarantees of fair hearing, right to property, etc., are not breached in its implementation? Does the President possess the requisite constitutional vires or powers to enact it? We shall presently attempt some answers, but first, an overview of salient provisions of the Order. Its Terms The Order consists of a Preamble, and six (6) Sections. The Preamble sets out the socio-political background, and contains its supposed legal bases or enabling provisions, i.e., Sections 5 and 15(5) of the 1999 Constitution, which confer executive powers on the President, and enjoin the State to abolish corrupt practices, respectively. Section 1 of the Order is at its core. It sets out to “protect from dissipation using all available lawful and statutory means including court orders”, the assets of any Nigerian which are believed to be linked to corrupt practices; such assets are not to be dealt with or transferred until the final determination of any corruption-related matter by a competent court. The Section lists (in a Schedule), a number of such matters currently pending in court, and empowers the AGF and Minister of Justice to publish from time to time, a list of such assets. It empowers the AGF, to co-ordinate the implementation of the Order. The Section restates the existing legal position, that public officials who engage in corrupt practices, shall be subject to disciplinary proceedings in accordance with the public service rules, as well as investigation/ prosecution by the Code of Conduct Bureau/Tribunal, in addition to forfeiting the proceeds

President Muhammadu Buhari

Speaker, House of Representatives, Yakubu Dogara

of such practices in accordance with law. It specifically authorises the AGF, to approach the courts for an order to block or freeze any funds or assets which he reasonably believes to be corruptionrelated, pending investigation or legal action. Section 2 of the Order is an enforcement provision, and it directs the prosecution, in accordance with relevant laws, of anyone who seeks to circumvent or subvert it. Section 4 simply enjoins law enforcement agencies to work with the Federal Ministry of Justice, in implementing the Order. Section 5 is the definition clause and it defines words and phrases used in the Order, such as “asset”, “corruption or corrupt practices”, “enforcement authority”, “entity”, etc. Section 6 gives the commencement date of the order (it was signed by President Buhari on 4th July, 2018).

such other powers as are reasonably necessary to enable that act to be done or are incidental to the doing of it”. I submit that, Executive Order No. 6 is self-evidently an enabler, to the exercise of the said powers of the President to execute and maintain the Constitution, as well as laws made by the National Assembly. It is simply a reminder by Mr. President to law enforcement agencies, of the extant provisions in the law, which not only forbid corruption, but empower the State to deny those who engage in it, of the reward for their malfeasance.

Is the Order Ultra Vires? Section 5(1)(a) of the Constitution provides that the Executive Powers which it vests on the President, may be exercised either directly or through Ministers or Public Officers in his Government. Section 5(1)(b) provides that those powers “extend to the execution of the Constitution (and) all laws made by the National Assembly and all matters with respect to which the National Assembly has power to make laws”. Such laws, include the much-touted asset forfeiture provisions of the EFCC Act, and the ICPC Act. Section 150(1) of the Constitution provides that, there shall be an Attorney-General of the Federation, who shall be a Minister in the Government of the Federation. By virtue of Section 10(2) of the Interpretation Act, “An enactment which confers power to do any act shall be construed as also conferring all

“IT IS SIMPLY A REMINDER BY MR. PRESIDENT TO LAW ENFORCEMENT AGENCIES, OF THE EXTANT PROVISIONS IN THE LAW, WHICH NOT ONLY FORBID CORRUPTION, BUT EMPOWER THE STATE TO DENY THOSE WHO ENGAGE IN IT, OF THE REWARD FOR THEIR MALFEASANCE”

Criticism the Order As previously alluded to, amongst a litany of other perceived flaws, critics allege that the Order usurps the powers of the court under Section 6 of the 1999 Constitution, by empowering the AGF to publish lists of assets purportedly affected by (and thus, temporarily forfeited pursuant to) the Order. It is claimed that this provision, violates the presumption of innocence under Section 36(5) of the Constitution. The impression created by this charge, is that the AGF arbitrarily decides that an asset is corruption-related, and lists it accordingly under the Order. Nothing could be further from the truth. We have seen that, all the provisions of the Order which empower the AGF to take any step under it, are scrupulously qualified in one form or the other. This has been achieved by adopting appropriate legal terminology whose meanings, where they are words of art, are well-known to those trained in that art, i.e., legal practitioners and Judges. Those words and phrases include “without prejudice” and “subject to”, both of which are prominently used throughout the Order, in relation to its provisions vis-à-vis existing laws or pending suits. Specifically, Section 1(a) of the Order states categorically that its prescription that all corruption-linked assets shall be protected from dissipation, is “without prejudice to any laws or existing suits or any other rights arising out of or in respect thereof”. According to Black’s Law Dictionary, 8th ed., page 1632, the phrase “without prejudice” means “without loss of any rights; in a way that does not harm or cancel legal rights or privileges”. In this context, it means that those provisions

of the Order, do not affect or abrogate pre-existing legal rights under relevant statutes. As if to make assurance doubly sure, however, the Order goes ahead to stipulate that the protection envisaged by its provisions, is to be achieved “by employing all available lawful or statutory means, including seeking the appropriate order(s) of court where necessary”. Furthermore, such forfeiture, as it were, is not permanent but is rather an interim measure, pending “the final determination by a court of competent jurisdiction of any corruption related matter against such a person”. These words appear twice in the Order; in Section 1(a) and Section 1(c)(iii). Similar words are used in Section 1(b), which provide that Government officials or their nominees/ agents who engage in corrupt practices, shall “forfeit the proceeds in accordance with the relevant laws”. The intention is clear - to check abuse and ensure that the rule of law is observed. Furthermore, the authority conferred on the AGF under Section 1(c) (ii) & 1(c) (iv) of the Order, to procure a court order freezing or confiscating funds or assets linked to corruption, is expressly made “subject to his powers under Section 174 of the Constitution and other laws enabling him in that regard”. The phrase “subject to”, introduces a condition in a provision. It subordinates the provisions of the subject Section, to any other provision empowered by reference thereto, and which is intended not to be diminished by the subject Section: FRN v OSAHON (2006) 2 S.C.N.J.348. It is obvious that, this is yet another safeguard in the Order for ensuring constitutional supremacy and the rule of law. So, where is the fear? Another charge is that, there are existing provisions in relevant legislations which deal adequately with the subject-matter of the Order, such as Sections 26, 28, 29, 30 and 34 of the EFCC Act, Sections 44 – 49 of the ICPC Act and Section 8(1) of the Recovery Public Property (Special Provisions) Act 1983. Beyond the fact that this last statute is invalid, because it is inconsistent with the Code of Conduct provisions of the 1999 Constitution, it is beyond peradventure that given the existential threat which corruption poses to Nigeria, all measures aimed at tackling it should be embraced and not pooh-poohed, provided, of course, that it is done within the ambit of the law. Accordingly, more should be better, and not less. Conclusion The greatest weakness of the criticisms of the Order, is their failure to acknowledge that it categorically gives a right of redress to “any person who alleges that his rights have been, are being or are likely to be contravened by any of (its) provisions, (to) apply to a competent court in his jurisdiction”. The clear implication of this is that, any of the nay-sayers to the Order who do not fall within any of these categories, lack the requisite locus standi to do so. Accordingly, they should be content to remain sanctimonious arm-chair critics, and give the Order the benefit of any doubt. I believe that the foregoing analysis, has clearly demonstrated that such doubts exist, only in the imagination of cynics or professional critics.

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17.07.2018

Daniel Hassan Bwala PHOTOS: Godwin Omoigui

‘State Police Cannot Be Delayed Any Further’ The Nigerian political terrain, is unarguably, extremely complex. Stormy, treacherous, and unpredictable. But the patriotic zeal to serve his people, who have had the misfortune being the hotbed of the Boko Haram insurgency, has motivated Daniel Hassan Bwala, to run for the ofﬁce of Senator representing the Borno South Senatorial District, in the 2019 elections. Onikepo Braithwaite and Jude Igbanoi, sought to know from him, why he has made the decision to leave the comfort of legal practice, to venture into the murky waters of partisan politics, in a place which has been devastated and ravaged by insurgency. He also spoke to us about other issues, including the relationship between the Legislature and the Executive, the necessity of State Police, and Executive Order No. 6

awyers have always been perceived to be better Politicians and Administrators. As you run for the Senate seat of Borno South Senatorial District, what do your people stand to gain from you, when you get elected? As you aware, running for political ofﬁce in this country, requires big money. How do you intend to fund your campaign? Thank you. Lawyers know the law, and so are better placed to make laws for peace, order and good government in a democratic society, especially one like

ours. So, it’s beyond perception, it is a fact. The good people of Borno South will through me, benefit from good and well-informed, people-oriented legislation that capture and address their yearnings. You will recall that we have had times when laws made by the National Assembly were tested before our courts and found to be contrary to the Constitution, and therefore, void, illegal and inapplicable to the extent of their unconstitutionality. Concerning the second half of your question, I practice law, and I have, and will continue, to use the proceeds from my legal practice for this endeavour. I have spent millions already, on grassroot mobilisation. I intend to use crowd funding

“MY PEOPLE ARE LOOKING FOR SOMEONE WITH PROVEN INTEGRITY, AN IMPECCABLE RECORD, AND GENUINE LOVE FOR THE PEOPLE, AND THIS AND MORE, INFORMED THEIR DECISION TO ASK ME TO RUN”

as well, after securing my Party’s ticket, to aid the financial demands of this endeavour. People from within and outside the country, have called to show support. We are also encouraging the good people of Southern Borno to make sacrifices, albeit temporally, by shunning votes buying and supporting their consciences, as that will be the only way to salvage the past and their future. People are now realising that, money is not everything; for example, the 2015 elections in Nigeria. We will focus on raising volunteers and grassroot support base. Recently, Alexandria Ocasio- Cortez of Bronx, New York, defeated a tenth term Democratic congressman in the primaries, with a minimal budget of a little above

17.07.2018 hundred thousand dollars (USD100,000.00), as compared to the budget of the congressman, which was over a million dollars. The North East, your place of origin, has been devastated by the activities of Boko Haram insurgents for the past 8 years. Now, you seek to represent your people in the upper chamber of the National Assembly. What is the attraction, to represent a people who have been so demoralised and psychologically traumatised? I have journeyed to Borno State, and Southern Borno in particular, on many occasions and seen the devastation, demoralisation and palpable discontent among the people. It’s sad. Despite President Buhari’s good intentions for the North-East and the heavy financial investments, which are commendable, there appears to be some missing links still. My people have also complained that, they can hardly see the practical manifestation of these moneys, or developments on ground. No road, no water, no hospitals, no school materials, heavy unemployment, and the list goes on. My people are looking for someone with proven integrity, an impeccable record, and genuine love for the people, and this and more, informed their decision to ask me to run. In Southern Borno today, our healthcare needs have been abandoned and left unattended; our infrastructure are either old and worn out, out of date, or have continued to dilapidate without tangible signs of deliberate leadership intervention. At no point in history have we had unemployment rate so high, that the implications threaten our existence as a people; and the list goes on. Before I ever thought of running for office, I had used my platforms, to push passionately for the improvement of the lot of my people. We intend to turn things around, and that’s why I am running. There appears to be a sharp religious division, between Christians and Muslims in your State. How do you intend to navigate through this stormy terrain or religious differences, to the Senate? Politicians have hitherto, used politics to deceive and divide our people, and when they get what they want, they still will not bring the dividends to the people. I am not a religious bigot, and will never be one. I

COVER/9 supported President Buhari long before and during the 2015 elections, without letting my judgements be clouded by the strong religious campaign of the day. I still support him today. A remarkable and great percentage of my support base, are not from the same religion with me. What the people need is dependability, integrity, straight-forward dealing backed by pragmatic action, to substantiate the feeling of genuine love, care and passion for the people of Borno South. There are things I have already done, because of my love for the people, without an iota of thought of political office. I want to state for the record that, my senatorial bid is now a movement that enjoys the support of all, irrespective of religion or ethnic and tribal differences. As a successful Lawyer, one wonders why you would abandon your legal practice for politics. Is it worth it? I am thankful to God for my practice, which has flourished with dignity beyond the shores of this country. I have been helped by God in legal practice, having represented Government, Governors, Corporations and people from all walks of life in court; and I have as well received several kinds of legal education, including my admission as Barrister in England and in Nigeria. Well, people tend to misconstrue a Lawyer’s venture

“THE PROTEST BY HIS MEN, WHICH IS VERY UNCOMMON IN THE FORCE, IS ANOTHER POINTER. PRESIDENT BUHARI HAS ALLUDED TO HIS ACTS OF INSUBORDINATION, PARTICULARLY REGARDING THE BENUE MASSACRES”

into politics, as an abandonment of legal practice. What actually happens is that, a Lawyer goes into politics with his practice. He takes the legal practice into politics, advocating for the people, making a case for what belongs to the people; not just human rights and dignity of the people, but also ensuring that the fundamental objectives and directive principles of State policy, affect the people and bring prosperity to the land. I was in South Dakota, USA, where I had an enriching discussion with a high-ranking US Senator, who alluded to this same fact, and offered me very inspiring advice on what a true legislator is and what he can do for his people. Some have suggested that, you should actually have sought a Gubernatorial ticket instead of the Senate. Is Governorship in the ofﬁng, in future? I feel genuinely flattered by these expressions of wishes, borne out love by the people. In fact, some have even said Presidency in future. (Laughs) People are moved to speak like this, as an expression of passion and admiration of a person of integrity, courage and pragmatism, who they have come to know. No one can rule out the possibility of any of this in life and the future, but, for now, my eyes are fixed on the Senate, where we will have the privilege of reshaping society, through the enactment of good laws for peace, order and good government; and the reaping of the benefits of democracy by the good people of Southern Borno. One would have expected you either in APC or PDP, but you chose SDP, what informed your choice of platform in your quest for the Senate? I consider it vital to mention that, in our clime, political parties are merely platforms, as against the ones in other climes that are based on ideology. So, the most important thing, is the emergence of leaders that will bring about positive change. Yes, I expressed my intention to run under SDP, but looking at recent happenings such as the coalition, myself and my team, shall be seriously reconsidering our choice of platform, strategy and related issues. One of the key reasons why I chose the SDP, was its adoption of the option A4 (that is, members direct primary election), as against delegate primaries. But like I said, I have put out a word already and we are reconsidering our options. President Buhari’s emergence in 2015, was a product of people voting across party lines all over the country, not minding party differences and affiliations. My ambition has turned into a movement that enjoys support, irrespective of party or other differences. The relationship between the Legislature and the Executive, hasn’t been too cosy in the past few years. It seems even worse now, especially with budget being passed beyond the middle of the year. In all this, it is the masses that suffer. What is amiss, and how can this incessant belligerence be arrested, in the interest of the country? It is an unfortunate situation. This is not new. There are similar cases in other climes as well, and it does not speak well of them. The Executive and the Legislature have engaged in supremacy battles, even up to the point of ignoring national interests, and the impact of such fights on the masses. Where two elephants fight, it is the grass beneath that suffers. Personally, I have used news media platforms including social media, to call for and encourage harmony between the two. This, to me, is why President Buhari must not be a bystander, but must be interested and involved in the emergence of Legislators in 2019, irrespective of party differences. He should engage and work towards the emergence of those who believe in his agenda, whether within or outside his party. He needs strategic partners. If the President does not get involved strategically, if and when he wins re-election, he might have a National Assembly of actual opposition, and when that happens, consolidating on his reforms, will be a myth rather than a reality. However, the point must be made that, not every disagreement between the various arms, is negative. The intendment of the principles of the rule of law, is to the effect that the different arms of Government, exist to provide checks and balances for each other, while having national interest and good governance in focus. Many people, including the Legislature, have called for the sack of the Inspector General of Police, citing incompetence and failure to protect the lives and property of Nigerians, especially those in the North Central, putting the herdsmen killings on the scale of genocide, ethnic cleansing, crimes against humanity and so on. Do you agree with the call for his sack? There is palpable loss of confidence, by members of the public already. The protest by his men, which is very uncommon in the force, is another pointer. President Buhari has alluded to his acts of insubordination, particularly regarding the Benue massacres. These, and many other reasons, lend credence to the call for his sack. I am therefore, in agreement, but whether President Muhammed Buhari will heed to the call, remains to be seen. The way Government has handled the issue of herdsmen’s killings, has been greatly criticised. Do you believe that there’s a basis for the criticism? Do you think Government is doing enough to stem this tide of killing, violence and wanton destruction? Amnesty International has even accused Government, CONTINUED ON PAGE 10

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17.07.2018

‘STATE POLICE CANNOT BE DELAYED ANY FURTHER’

of giving the herdsmen the impetus to continue with their violent rampage. Is there any truth to this allegation? In my opinion, there is no truth to the allegation, because it is not proven. I think that Government is trying, although one may argue that it is not doing enough; in fact, people have opined that, the handling of this crisis will define what happens in 2019. That is, whether he will win election or not, because it was the same thing that failed the former President Goodluck Jonathan. You seem to be of the school of thought that, Nigeria is ripe for State Police. What beneﬁts will be reaped from the introduction of State Police? With many of the States unable to pay the salaries of civil servants, how practicable is it to increase their wage bills via increasing their work forces with State Police? The argument for State Police, remains crucial and critical. I have also canvased that, the State Police-Enacting-Law, should encompass provisions that give the Police some independence of power and operation from executive excesses, influence and control; as well as amending Section 308 of the CFRN, 1999 (as amended) to give

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civil and criminal liabilities to Governors or a President who is found to have used the Police to intimidate, harass, or kill political opponents or anyone. As far as salaries are concerned, it should be left open to States who can afford to have it, to do so. States that can’t afford to recruit and pay their own Police, can be aided with grants. Furthermore, the fact that some States can afford their own Police, makes it possible for there to be a good number of Federal Police, available for deployment to the less financially capable States. Suffice to say that, as a matter of fact, it is corruption that can make a State incapable of paying salaries. When a former Governor undergoes prosecution for financial crimes and improprieties in Nigeria as we have witnessed, the huge sums usually involved, tell you that States can afford to hire and pay Police. APC came into power on the mantra of “change”, with its threefold manifesto - revamping Nigeria’s battered economy, ﬁghting the Boko Haram insurgents and improving security, and war against corruption. How well has the Administration done in fulﬁlling these campaign promises to Nigerians? Has Nigeria changed for the better?

Economic analysts have said that Nigeria has fared well, having come out of recession, albeit slowly. I am not an Economist. Security, is presently the bane of this administration, but I am optimistic that it can right the wrongs and do better. The administration’s fight against corruption, has been the most successful and I know that the recent Executive Order signed by the President, will give it a great boost. President Buhari recently signed an Executive Order, aimed at seizing assets of alleged corrupt people, pending legal process. How constitutional is this, bearing in mind that Section 36(5) of the 1999 Constitution gives a presumption of innocence until proven guilty? Or does the proviso in the Section, give protection to the Executive Order? This is about the only way, that criminal cases can be fast-tracked and proceeds of crime preserved. Although, some people have suggested that this Executive Order is a presumption of guilt, I think otherwise. In a criminal trial, the end is conviction and imprisonment, which is not what the President has ordered. When you take out and protect the assets that are suspected

JUDGES, LAWYERS, LABOUR LEADERS, OTHERS, PAY TRIBUTE CONTINUED FROM PAGE 5 suming professional, who contributed in no small way to Nigerian law and jurisprudence. “The late Chief Gani was an example of loyalty and fidelity to the nation; he worked tirelessly to build bridges across many lines; he epitomises integrity and thorough selflessness”. On his part, the Presiding Judge of the NICN Lagos division, Hon. Justice B. B. Kanyip, in his remarks, commiserated with the family of the deceased, and described

the late Jurist as a brilliant Senior Advocate who always aligned himself with the truth. Other dignitries at the event included, Hon. Justice Habeeb Abiru, JCA, Hon. Justice Joseph Ikyegh JCA; Judges of the National Industrial Court of Nigeria, Hon. Justice P. A. Bassi; Hon. Justice Mustapha Tijjani, Hon. Justice E. A. Oji and the Chief Registrar-NICN, Olurotimi Daudu. Late Chief Ganiyu Adetola-Kazeem, SAN was born in 1948, died on Monday, 8th

January, 2018, and was buried according to the Islamic rites in his home town, Ijebu-Ode. The late SAN, was largely instrumental to the establishment of the Labour and Employment Committee, of the Section on Legal Practice of the Nigerian Bar Association. He will be remembered, mostly for his exploits in Labour law, Medical law, and Islamic Jurisprudence.

NOMINATION OPENS FOR THE 2018 EDITION OF THE NIGERIAN LEGAL AWARDS CONTINUED FROM PAGE 5 our team, various interviews with references supplied, and the insightful analysis and decision of the judging panel, makes this award the most sought-after and unique, in the history of the Nigerian Business Community. The entry process is simple, transparent, confidential, and fair, to recognise the best teams, individuals and projects.” According to Fashola, the deadline for entry for this year’s award, which opened in March, is August, 2018. Fashola stated that the event, which is slated for November 12, 2018 at the Landmark Events Centre, Oniru, Victoria Island, Lagos, will be preceded by the Judges Conference. He explained that the panel of Judges comprises “Heads of African Practice Groups at United Kingdom-based law firms, CEOs, founding Partners of National and Multinational institutions, senior Nigerian Lawyers, and International Consultants”, among others. The Panel, according to him, will be led by the AFC Executive Director and Legal Adviser, Dr Adesegun Akin-Olugbade.

“The 6th edition of the prestigious annual event, celebrating the important contribution of Lawyers to the growth of businesses in Nigeria, would be unfolded with a glamorous conference of the independent Judges who evaluate the award process. “According to the Chairman of the Panel of Judges and Executive Director and General Counsel African Finance Corporation, Dr Adesegun Akin-Olugbade, the Nigerian Legal Awards, is one of the few excellence-awarding events in Nigeria”, Fashola added. Speaking on innovations for this year’s award, he said, “Another innovation this year, will be the second edition of the 40 under 40 Young Lawyer Achievers, who will shape the future of the legal profession in Nigeria. “The 6th edition of the annual event, comes with this new initiative, with a view to encouraging young Lawyers develop the value of diligence, eye for goals, commitment, team spirit, and in developing themselves. “The ‘40 UNDER 40’ category of the Nigerian Legal Awards celebrates 40 young

Nigerian Lawyers and Lawyers of Nigerian descent who are 40 and below, and are making significant contributions to the growth of businesses and the economy in Nigeria. They represent Lawyers who will shape the future of the legal profession in Nigeria. To encourage and recognise distinguished 40 Nigerian Lawyers under the age of 40, ESQ Nigerian Legal Awards, celebrates young Lawyers, from law firms, in-house and government, who are the rising stars of the legal profession in Nigeria. “The Rising Stars are young Lawyers who exemplify distinction and quality service delivery, and demonstrate superior leadership, reputation, influence, stature and profile as Nigerian Lawyers. “Participants for this category of awards, should include Lawyers under 40 years of age, ranging from all spheres of Legal Practice (to include, Practicing Lawyers, InHouse Counsel and Public-Sector Lawyers). Nomination for this award can be done through Law firms, Organisations and self-Nominations”, he stated.

“THE ARGUMENT FOR STATE POLICE, REMAINS CRUCIAL AND CRITICAL. I HAVE ALSO CANVASED THAT, THE STATE POLICE-ENACTING-LAW, SHOULD ENCOMPASS PROVISIONS THAT GIVE THE POLICE SOME INDEPENDENCE OF POWER AND OPERATION FROM EXECUTIVE EXCESSES, INFLUENCE AND CONTROL; AS WELL AS AMENDING SECTION 308 OF THE CFRN, 1999 (AS AMENDED), TO GIVE CIVIL AND CRIMINAL LIABILITIES TO GOVERNORS, OR A PRESIDENT, WHO IS FOUND TO HAVE USED THE POLICE TO INTIMIDATE, HARASS, OR KILL POLITICAL OPPONENTS OR ANYONE”

proceeds of financial crimes, you have not imprisoned; it, in fact, tends towards forfeiture, and non-conviction- based forfeitures are recognised by our laws. This is the best way funds and assets can be preserved and protected from being frittered away by those being tried, as has often been the case. If, at the end of trial, they are found not guilty, the Government will return the funds and properties in question. Even in civil trials, courts give injunctive reliefs to preserve the res, but the Executive Order 6 in my opinion, is merely an executive administrative instruction, which further empowers the office of the Attorney- General of the Federation (AGF), over the EFCC in the anticorruption fight. This is because, even the Order recognises and states in clear terms, that every confiscation of assets must be in accordance with the law and orders of the court. In other words, it still recognises the procedural steps, such as applying to courts for interim forfeitures. The dangers with the Order, is that if EFCC or any other agency stands in the way of the AGF when the AGF or staff of the office giving effect to the orders, that person would be prosecuted. The downside of the law is that, no one can be tried and /or convicted of a crime that is not defined by law, for which the punishment is prescribed in a written legislation. Legislation in this context is an Act of the National Assembly, not Executive Orders.

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NBA Lagos Trains Lawyers on ADR Jude Igbanoi The Lagos Branch of the Nigerian Bar Association (NBA), took its young members on a training programme to the Lagos Court of Arbitration last Tuesday. The oneday event, which was facilitated in collaboration with the law firm of Sofunde, Osakwe, Ogundipe & Belgore, saw in attendance over 100 young Lawyers who were taken through the foundational module of Alternative Dispute Resolution, by a high powered faculty comprising of Mr. Dele Belgore, SAN, Dr. Wale Olawoyin, SAN, Mr. Babajide Ogundipe and Mrs. Sola Adegbomire. Mr. Belgore, SAN gave the mentees a two-pronged approach to ADR :1. Overview of Alternative Dispute Resolution, and 2. Drafting an Arbitration Agreement. On the specifics of drafting arbitration agreements, Belgore told the young Lawyers that, 50% of the cause of delays in arbitration, is attributable to parties agreeing on constituting arbitral tribunals. His presentation was hinged on the concept of ADR, and the importance of having a proper agreement. He pointed out however, that a party cannot be forced into an arbitration. He further enumerated the requirements of a valid arbitration agreement, which he said must be in writing, and doesn’t necessarily have to be in the contract. Belgore also pointed out matters that are not arbitrable, including tax, matrimonial matters, etc. Dr. Wale Olawoyin, SAN, in his own presentation taught the young Lawyers about how to commence an arbitration, the principle of party autonomy and appointment of arbitrators, all set out in Section 17 of the Arbitration and Conciliation Act. He said that notice of arbitration, signifies the commencement of an arbitral proceeding. Parties must agree on the number of arbitrators, and that where this

L-R: Master of Ceremony, Mr.Yemi Akangbe; Guest Lecturers, Mr. Dele Belgore, SAN; Mrs. Sola Adegbonmire; Mr Babajide Ogundipe; Mrs Morenike Obi-Farinde; Dr. Wale Adewoyin, SAN and Chairman, NBA Lagos Branch, Mr. Chuka Ikwuazom, during the training workshop for NBA Lagos Young Lawyers organised by Continuing Legal Education Mentorship Committee (CLE), NBA, Lagos and the law ﬁrm of Sofunde, Osakwe, Ogundipe & Belgore (SOOB), at Lekki Phase 1, Lagos last week

is not mutually agreed on, the Act provides for a default appointing authority, which is either the President of the Chartered Institute of Arbitrators or the Chief Judge of the State or Federal High Court. Dr. Olawoyin, SAN, however, cautioned about the decision in Celtel v Econet (2014) CLRN 63, that counsel should be careful in relying on a judicial authority in appointing. He further pointed out that, the decision that a court appoints an arbitrator, is not subject to

an appeal. That parties should try as much as possible, to insulate the court system in drafting an authority to appoint. He cited the case of Mekwenye v Imoukhuede. Mr. Babajide Ogundipe, spoke on cost saving in arbitration. In litigation, he said parties don’t pay the adjudicator, while in arbitration you pay the arbitrator. He spoke of the various costs in arbitration, including fees of the arbitrator, cost of expert advice and travelling costs. One complex

issue in arbitration which he pointed out, is the cost of the successful party. He however, stated that such cost must be reasonable, and has to be approved by the arbitrator. That there is a scale of fees, usually by assessment, and the International Chambers of Commerce fees based on quantum of claims. The afternoon session was led by Mrs. Sola Adegbonmire, who spoke on Understanding Mediation and Foundations of Mediation Advocacy.

NBA-LIM Chair, Theodora Kio-Lawson, Bags ‘Tare-Yeri Star Award’ Jude Igbanoi

The Law Editor of BusinessDay Newspapers and Chairman of the Nigerian Bar Association Lawyers in the Media Forum, Ms Theodora Kio-Lawson, is the 2018 recipient of the ‘Tare Yeri Star Award’, an annual award instituted, to commemorate the selfless life that late Tare Yeri lived, towards the goals and objectives of the Nigerian Bar Association Section on Business Law. Kio-Lawson, who is also the Chairperson of Media, Publicity & Mobilisation Committee of the Nigerian Bar Association Section on Business Law (NBA-SBL), was recognised for her dedication, selfless contribution, and unwavering commitment towards the development of the NBA-SBL. Her involvement with the planning of the Annual Business Law Conferences over the last 10 years, has been a major factor

in the success of this remarkable gathering of business Lawyers. The award was presented to her by Mr. George Etomi, pioneer Chairman of the NBA-SBL, at the just concluded Annual Business Law Conference, which held in the Federal Capital Territory, Abuja. Tare Yeri was a vibrant and selfless young woman, whose life was devoted to God and to others. She was a long- standing and extremely committed member of the NBA- SBL, who served in various capacities, under every Council of the Section since its inception, and contributed immensely to its growth and development. It would be recalled that, following her untimely demise on Saturday, 22nd April, 2017, NBA-SBL instituted an annual award in her honour. Tare played very critical roles, in the planning of all ten editions of the NBA-SBL Annual Business Law Conference. Prior to her demise, she was deeply involved in the planning of the 2017 Conference.

Theodora Kio-Lawson receiving the Award from former SBL Chairman, Mr. George Etomi

Court Orders Interim Forfeiture of Lekki Estate to FG Akinwale Akintunde Justice Sule Hassan of a Federal High Court, sitting in Lagos has ordered an interim forfeiture of the multi-billion Naira Safetowers Estate located at Ikate, Lekki, Lagos, to the Federal Government. The Judge gave the order last Thursday while ruling on the ex-parte application filed by Nkereuwem Anana, counsel to the Economic and Financial Crimes Commission (EFCC). Safetrust Mortgage Bank Limited and Macbosh Properties Limited, were promoting the Estate.

The EFCC, had in the ex-parte originating summons, sought for an interim order forfeiting the parcel of land measuring 50027,147 square metres, situate, lying and being at Lekki Pennisula Scheme, known and particularly described as, Block 116, Plot 3, Ikate Ancient City, Eto-Osa Local Council, Lagos State in Survey Plan No. BAS258/2013/130-1, pending the conclusion of investigation and prosecution. The Commission predicated its prayer, on the ground that the court has the statutory powers under the provisions of Sections 24, 28 of the EFCC Act 2004, Section 44(2)(k) of the Constitution of the Federal Republic of Nigeria, and under the inherent jurisdiction of the court,

to forfeit property that is a subject of fraud, or connected thereto. According to the EFCC, the property sought to be attached, is reasonably suspected and traceable to be connected to economic and financial crimes that is a subject of fraud. The application was supported with 19-paragraph affidavit, deposed to by one Isaac Gong, an Investigative Officer of the EFCC. In the affidavit of the anti-graft agency, Gong contended that he was one of the team of operatives of the Applicant, assigned with the responsibility of conducting investigation on a petition received by the Commission showing that the Respondents are in possession

of properties, used in defrauding the victim. He averred that upon the receipt of the said petition, same was analysed and found worthy of investigation. The EFCC contended that, the petition itself revealed that Safetrust Mortgage Bank Limited, proposed to construct 3 high-rise buildings within a construction and delivery period of 24 months. According to the EFCC, the 3rd Respondent thereafter, offered to sell one of the high rise buildings to the victim, Mr. Kunle Ogunmefun at an agreed sum of N710 million.

CONTINUED ON PAGE 13

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17.07.2018

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17.07.2018

THE LIGHTER SIDE/13

LEGAL HUMOUR

We Hold Your Brief JUDE IGBANOI jude.igbanoi@thisdaylive.com Dear Counsel, Kindly, advice me. After my OND in Building Technology, I worked with a construction company for many years, but later decided to go and study Architecture at the University. Because of the years I spent working, I graduated just after I turned 36 years. Although, I had the option of going back to work for the same company, I chose to set my up my own firm, where I also consult for my former employers. I was prompted to make this enquiry, when I heard of the scandal over the NYSC Certificate of Exemption of the Finance Minister. I didn’t obtain any such certificate, because I felt that I would never need it, as I intend to be self- employed for life. Please, do I really need this NYSC Certificate of Exemption? Is it compulsory? B.C.O, Ijegun, Lagos Dear B.C.O., My advice is that you get the Certificate of Exemption, whether you are self-employed or not. You do not know, when you will need it. You may want to stand for an elective office, in future. You may even be nominated, for a political appointment. It is therefore, wiser to err on the side of the law.

Section 2 of National Youth Service Corps Act provides thus, “Persons Exempted From National Youth Service Corps in Nigeria”.The Act makes it mandatory for every Nigerian graduate, to enrol for the compulsory one-year National Youth Service Corps. However, those exempted from the programme are :1. A person who is over 30 years of age, at the point of graduation. 2. A person who has served in the Armed Forces or Police, for more than 9 months. 3. A person who is a staff of any of the State Security Agencies like the National Intelligence Agency. 4. A person who holds a National Award. You should therefore, visit the NYSC Secretariat, to find out the process to be followed, to obtain a Certificate of Exemption. In a recent interview granted by a former Director of the NYSC, he explained that the NYSC computer system, is designed to automatically identify for exemption, a person who has graduated over the age of 30, when their documents are put through the system for processing. An application for exemption, is apparently not necessary. It’s best that you go to the NYSC Secretariat, to confirm the correct position.

A Lawyer was asked if he like to become a Jehovah's Witness. He declined, as he hadn't seen the accident, but replied that he would still be interested in taking the case. ˾˾˾ What's the difference between a Lawyer and a leech? A leech quits sucking your blood after you die. ˾˾˾ What's the difference between a Lawyer on a Harley and a vacuum cleaner? The vacuum has the dirt bag on the inside. ˾˾˾ What's one more difference between a Lawyer and a vulture? Vultures wait till you're dead to rip your heart out. ˾˾˾ What's the difference between a dead skunk in the road and a dead Lawyer in the road? Vultures will eat the skunk. ˾˾˾ Why do Lawyers carry their certification on their dashboard? So they can park in the handicapped parking; it's proof of a moral disability. ˾˾˾ How can you tell there's an afterlife for Lawyers? Because after they die, they lie still. ˾˾˾ What are Lawyers good for? They make used car salesmen look good. ˾˾˾ What did the Lawyer name his daughter? Sue. And his son? Bill. ˾˾˾ What do you call a person who assists a criminal in breaking the law before the criminal gets arrested? An accomplice. What do you call a person who assists a criminal in breaking the law after the criminal gets arrested? A Lawyer.

Trapped N22.45Bn Fund: Supreme Court to Hear Nospetco Investors Suit, March 2019 Akinwale Akintunde The Supreme Court has fixed March 25, 2019, to hear all pending applications in a case of over N22.45 billion Investors of Nospetco Fund Scheme, trapped in the Central Bank of Nigeria. The five-man panel of Hon. Justices Mary Ukaego Peter-Odili, Ejembi Eko, Kudirat M.O. Kekere-Ekun, Chima Nweze, and Mustapha Dattijo Muhammad, adjourned the six year old case for another nine months, due to the absence of Mr. Rowland Otaru, SAN, Lawyer to four of the investors. When the matter came up last week, presiding Justice asked if any investor Otaru is representing was in court, and whether he could explain the absence of their Lawyer in court. One of the investors, Roland Badejo, rose to announce his

name, saying his Lawyer, Otaru, was "indisposed", and upon further probing by the court as to what he wanted the court to do, Badejo asked for an adjournment in the case. But Mr. M. Bamidele from Ricky Tarfa, SAN’s chambers, counsel to the Appellant, Nospetco Oil And Gas Ltd, told the court that Mr. Debo Adeleke's application of cross-appeal could be heard without Otaru's presence in court, adding that the application is harmless, and Appellant was not opposing. In his submission, Barrister Debo Adeleke, who appeared for 10 investors in representative capacities of over 13,747 other investors, pointed out that as a Senior Advocate of Nigeria (SAN), Otaru could have sent any Lawyer from his chambers either in Abuja or Lagos, since he knew he would not appear in court. "My Lords, even myself, I am ill, notwithstanding I still

COURT ORDERS INTERIM FORFEITURE OF LEKKI ESTATE TO FG CONTINUED FROM PAGE 11 EFCC also averred that, a non-disclosure agreement was thereafter, executed between the victim and Macbosh Properties Limited, on the understanding that Macbosh, the 2nd Respondent, is an agent of the 3rd Respondent. It was also the submission of the EFCC that, the victim made a total deposit payment of the sum of N550 million, with the understanding that the property will be delivered within the specified period of 24 months, from the date of the execution of the memorandum of understanding. The EFCC stressed that, after the victim made the payment to the 3rd Respondent, the 3rd Respondent to date, refused to deliver the said property to the victim, as agreed. According to the anti-graft agency, further investigation revealed that the 3rd Respondent was indebted to Sterling Bank Plc, and so, obtained the funds from the victim, to settle its debt with Sterling Bank Plc. It stated that, immediately the victim paid the sum of N550 million to account of the 3rd Respondent which is domiciled in Sterling Bank Plc, Sterling Bank Plc took the money, as the

debt owed her by the 3rd Respondent. It was also the contention of the EFCC that, the 3rd Respondent obtained from the victim, Kunle Ogunmefun by false pretence, money which was meant for the building of the high rise, by indirectly using the said amount of money to settle its indebtedness with the Sterling Bank Plc. It further stressed that, transactions of this nature, had contributed to bringing down the economy of the Federal Government of Nigeria. In the suit, EFCC named Akintayo Oloko, Macbosh Properties Limited, and Safetrust Mortgage Bank Limited, as Respondents The 1st Respondent is the Managing Director of the 3rd Respondent. Safetowers Estate Project, was conceived in 2013, as a 3-block high rise building, comprising 16 units of 3 bedroom apartments, and 2 units of 5-bedroom penthouse duplexes each. Meanwhile, the EFCC has moved to take possession of the project expected to be delivered within a construction time of 24 months.

managed to come. "Assuming without conceding, he is genuinely ill, he ought to have sent, at least one Lawyer from his chambers, to represent his clients, having been given notice of hearing", Adeleke submitted. The Apex Court cut in, and told Adeleke to be patient, adding that, it would be unfair to proceed with the case when Otaru was absent in court, and subsequently? adjourned hearing for March 25, 2019. Some of the investors who were in court today wore appearances of sadness, saying that they have suffered undue long adjournments at the Supreme Court. They complained that some investor- colleagues with who they started the case with, had died, and wondered if court is no longer the last hope of the common man. Members of the public invested their money in a scheme founded by Nospetco Oil and Gas Limited, but the scheme was later declared illegal by the Security and Exchange Commission (SEC), keeping the money in the Central Bank for safe keeping for the investors. Thereupon, the investors formed a group, and instituted a suit for payment of the trapped money at the Investment and Security Tribunal (IST) led by Mr. Debo Adeleke, where they won. But the Nospetco Oil appealed to the Court of Appeal, where the company lost. Not relenting, Nospetco also appealed to the Supreme Court, where the case is presently hanging. The investors through their Lawyer, Adeleke also is crossappealing on the issue of whether it is IST or High Court that has proper jurisdiction to handle the case. While waiting for the hearing of the case at the Apex Court, the investors became factionalised, with majority pitching their tent with Debo Adeleke, while minority hired Mr. Rowland Otaru, SAN as their Lawyer. The investors had earlier scaled the hurdle of legal representation in February, which had been a clog in the wheel of the case, when a five-man panel of five Justices presided over by Justice Bode Rhodes- Vivour, heard that while Adeleke appeared for over 13,747 investors, Otaru appeared for four of them.

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17.07.2018

Piracy and Armed Robbery at Sea: Issues of Legal Interpretation and Judicial Application A Commentary delivered by Mike Igbokwe Esq, LLM (Maritime & Commercial Law), SAN, FCIArb at the 15th International Maritime Seminar for Judges organised by the Nigerian Shippers Council in conjunction with the National Judicial Institute, at Sheraton Hotel & Towers, Abuja 3-5 July 2018

National Assembly to become enforceable, because:(i) No treaty between the Nigerian Federation and any other country shall have the force of law, except to the extent to which any such treaty has been enacted into law by the National Assembly: S.12 of the 1999 Constitution. (ii) In THE REGISTERED TRUSTEES OF NATIONAL ASSOCIATION OF COMMUNITY HEALTH PRACTITIONERS OF NIGERIA & ORS v MEDICAL AND HEALTH WORKERS UNION OF NIGERIA (2008)2NWLR (Pt.1072) 575 at 623 the Supreme Court held that for a treaty to be valid and enforceable, it must have the force of law behind it, and not by ‘bits and pieces of provisions found here and there in the other laws of the land, but not specifically so enacted to domesticate it, to make it a part of our law”. See ABACHA v FAWEHINMI (2000) 6 NWLR (Pt.660) 228 at pages 288-289(SC): “Before its enactment into law by the National Assembly, an international treaty has no such force of law, as to make its provisions justiciable in our courts... Domestic courts had no jurisdiction to construe or apply a treaty, nor could unincorporated treaties change the law of the land. They had no effect upon citizen’s rights and duties, in common law or statute.”

Introduction

he paper delivered by Dr. Kamal-Deen Ali:It contained very robust and scintillating arguments, on the challenges of interpretation and application of some relevant definitions in, and provisions of the United Nation’s Convention on the Law of the Sea (“UNCLOS”) on Piracy and Armed robbery or unlawful acts at sea by Courts, legal scholars, commentators and authors. I had through various papers sensitised the public on the essence of an up to date Nigerian law, to curb the menace of these crimes. As the Consultant of Nigerian Maritime Administration and Safety Agency (‘NIMASA’), I prepared a Bill titled ‘Piracy and Other Unlawful Acts at Sea (and Other Related Offences)’, to give effect to the relevant provisions of the ratified 1958 and 1982 UNCLOS relating to Piracy and the Convention for the Suppression of Unlawful Acts against the Safety of Maritime Navigation 1988 and its Protocols, with inputs from the International Maritime Organisation’s (IMO) Technical Assistance Committee’s Consultant (Mr. Blanco). I can further highlight, the stage at which Nigeria is in implementing the relevant treaties and updating its legal framework, in its efforts to suppress piracy and armed robbery at sea, so as to curb these crimes, in line with the mandate given to me by NIMASA, which maritime stakeholders in their communique at the International Conference on Piracy and Armed Robbery at Sea held at Sheraton Hotel and Towers, Abuja, from 28th to 30th April, 2008 (over 10 years ago!), recommended should be by a stand-alone Act. The arguments on the interpretation and application of some provisions of the UNCLOS will help our Judges and Justices, Lawyers, policy makers, prosecutors, law enforcement agents including the NN, NAF, EFCC, NASS etc, have a better understanding of those provisions and issues concerning their wording, interpretation, and facilitate their application in the performance of their statutory law enforcement duties. Comments I agree with the following views of Dr. Ali in his paper, namely that:(i) In interpreting Article 101 of the UNCLOS, for piracy to be established under it, the place of its commission (‘locus delicti’) must be the High Seas or a place outside the territorial waters of a State (i.e. to say, outside 12 nautical miles from the baselines including the contiguous zone and the Exclusive Economic Zone), whereas a similar act or crime within the territorial waters, would amount to armed robbery at sea, which the coastal State would have exclusive jurisdiction over.

Mr. Mike Igbokwe, SAN

(ii) Interpreting ‘high seas’ as being the same as ‘a place outside the jurisdiction of any State’ in Article 101 of UNCLOS, is not supported by the textual analysis of Article 101 and amounts to repetition, and such an interpretation would lead to an absurd or pointless result, which the treaty maker is taken not to intend. (iii) Article 101 UNCLOS does not cover armed robbery at sea, or attacks on offshore installations (since not ships), and the hijack of the same ship by its crew or passengers (because there must be 2 ships or “ship-toship”), and that to fill the lacuna, the SUA Convention & PROT came into being. (iv) To have a comprehensive municipal legislation on piracy and armed robbery or unlawful acts at sea, both the provisions of UNCLOS on piracy and the provisions of SUA Convention and Protocols, should be brought together in a stand-alone Act as I did in respect of the Bill I drafted. (v) Economic or political ends were not stated by its drafters in, and so they should not be equated to the expression ‘private ends’ in that in Article 101(a) UNCLOS, because one should not read into the treaty, words which are excluded expressly or impliedly from it, but should interprete the words used inthe Article by the drafters and only give them their intended meaning and effect. (vi) The distinction between sea robbery and piracy, is that the former occurs within the territorial waters or jurisdiction of a S tate (territorial waters, internal waters, ports

“THE DISTINCTION BETWEEN SEA ROBBERY AND PIRACY, IS THAT THE FORMER OCCURS WITHIN THE TERRITORIAL WATERS OR JURISDICTION OF A STATE (TERRITORIAL WATERS, INTERNAL WATERS, PORTS AND ANCHORAGES), WHILST THE LATTER OCCURS BEYOND THE TERRITORIAL WATERS OF A STATE”

and anchorages), whilst the latter occurs beyond the territorial waters of a State. (vii) In efforts to prevent and suppress piracy, regarded by the international community as a serious crime against humanity, States can exercise ‘universal jurisdiction’ (they can make laws and use them to arrest and prosecute pirates, or enforce piracy that neither relates to their territory or citizens) over it. But, note Problems/Questions arising from this: (a) Parties to the treaty or their citizens, can raise objections, because in international law, a treaty binds only State parties to it, and has no effect upon the rights and duties of citizens. (b) If Nigeria prosecutes sea robbers under its Robbery and Fire Arms (Special Provisions) Act, containing crimes bordering on unlawful acts or armed robbery at sea, which court should exercise jurisdiction on such sea robbery; State High Court under its Section 9 or the Federal High Court under Section 251(g) of the 1999? (c) Attack upon a person’s life, destruction of a fixed platform facility located on the continental shelf, or seizure of an aircraft, ship equate ‘act of terrorism’ in Section 2(c) of the Terrorism(Prevention) Act, 2011 (as amended), but can they be seen as prosecution of unlawful acts or armed robbery at sea under SUA Convention and PROT?. I disagree with his view that, local laws should include assault, injury or damage to property as acts of piracy, and not as ancillary crimes, because words not stated in treaties should not be read into them and if the drafters of Section 101(c) of UNCLOS had so wanted, they would have specifically stated them as acts of piracy in Article 101. The National Assembly made the SUA Convention 1988 and the Protocol thereto’ (which deal with unlawful acts or armed robbery at sea) applicable to Nigeria, by Section 215(h) of the Merchant Shipping Act, 2007 (‘MSA’). A Convention itself (such as SUA/PROT) must be enacted into law by the

Implications: (i) The procedure in Section 215(h) of MSA of ‘enacting’ by incorporating by reference, the SUA 1988 and its protocol and amendments, is not the proper way of domesticating treaties or the treaty in Nigeria. (ii) By Section 12 of the Constitution, Nigeria applies in respect of bilateral treaties, the Dualist principle that unless a treaty has been translated into national law, the former does not exist as law, as illustrated by in the Abacha and Registered Trustees of NACHPN. (iii) It is arguable from Section 12 of the 1999 Constitution, that multilateral treaties or treaties amongst more than two parties (such as UNCLOS and the SUA Conventions) that Nigeria is a party to, the Monist principle applies: international law does not need to be translated into national law, because the act of ratifying an international treaty immediately incorporates it into national law, and the treaty can be directly applied by a national Judge, and can be directly invoked by citizens, just as if it were national law. A Judge can also declare a national rule invalid, if it contradicts international rules because, in some States, the latter have priority. (iv) By ratifying and not domesticating the UNCLOS and SUA treaties, Nigeria is violating international law, (unless being a multilateral treaty, it is taken to have been automatically incorporated into its national law), since in international law, a State that accepts or ratiﬁes a treaty but does not adapt its national law in order to conform to the treaty or does not create a national law explicitly incorporating the treaty, violates international law. (v) Even though under the Monist view, Nigerian laws that contradict the UNCLOS and SUA Conventions would remain in force, Nigeria will be unable to invoke its municipal law or Constitution, as the reason for its non-fulﬁlment of its international obligations under the these Conven-

CONTINUED ON PAGE 15

17.07.2018

/15

PIRACY AND ARMED ROBBERY AT SEA: ISSUES OF LEGAL INTERPRETATION AND JUDICIAL APPLICATION

CONTINUED FROM PAGE 14

Cross section of Participants at the Seminar

tions. (vi) Why sign a treaty, if Nigeria does not intend to make its provisions enforceable in our law courts? (vii) UNCLOS and the SUA Conventions on piracy and unlawful acts at sea being international agreements embodied in Conventions, are autonomous and above domestic legislation of the subscribing countries including Nigeria, and their provisions cannot be suspended or interrupted even by the agreement of the parties. See JFS INV. LTD. v BRAWAL LINE LTD (2010) 18 NWLR (Pt. 1225) 49 Dr. Ali did not cite or analyse any case decided by any court in an African State, to show the legal interpretation or judicial application of Article 101 UNCLOS or SUA Convention/PROT as domesticated, not even from Kenya, the Seychelles and Tanzania, where he said that due to negotiated bilateral transfer agreements between the US and European States, suspected pirates are being prosecuted and penalised. Not even from Ghana his country (or Nigeria or Benin or Togo), did he bring out any decided case illustrating the legal interpretation and judicial application of those provisions as domesticated by any of the African States. Blame Dr. Ali not for the paucity of decided cases by Courts in African States that have interpreted and applied the provisions, when African States are either too slow or unwilling to ratify or domesticate the treaties, without which the suspects cannot be prosecuted before Courts, and Judges will not have the opportunity of interpreting or applying the said provisions. There is yet no Nigerian judicial decision, that directly deals with the legal interpretation and judicial application of the provisions or words similar to those of these treaties, because they had not been domesticated in Nigeria and none of the offenders had ever been prosecuted for such offences, but I ran into some that are tangentially relevant to the incidents of or issues of legal interpretation and judicial application of piracy and armed robbery at sea: (i) Hilarious enough, a case on ‘sea pirate’ arose in respect of defamation of character! See NIGERIAN WESTMINSTER DREDGING AND MARINE LTD v CHIEF TUNDE SMOOTH & ANOR (2011)LPELR-4619(CA) because a petition contained ‘Chief Smooth and his gang of pirates". (ii) In Suit No. PHC/654/2010 ESL INTEGRATED SERVICES LTD v OCEANIC BANK INTERNATIONAL PLC of 26 July 2010 (unreported), where the Defendant Bank had through me, brought a preliminary objection to the Court’s jurisdiction, because the relief related to extraterritorial piracy and hijacking of the vessel M/V ‘Yenagoa Ocean’ in Somalia by Somalian pirates, which was a maritime safety matter governed by the SUA Convention, which Nigeria is a party to and the National Assembly has made applicable in Nigeria by Section 215(h) of the MSA, which only the Federal High Court has jurisdiction on, to the exclusion of any other Court under MSA. On 26 July, 2010 E. Teetito

J agreed with the objection, and struck out the suit. (iii) FRANK OPOKU ANIM v FEDERAL REPUBLIC OF NIGERIA (2014) LPELR2319(CA) was about illegal bunkering or carriage of stolen crude oil, hijacking of a ship and typical treatment of crew members by pirates or sea robbers, and theft of petroleum products. The court relied on WIKIPEDIA documentation to hold that, Pirates in the Gulf of Guinea are often pan of heavily - armed criminal enterprises, who employ violent methods to steal oil cargo. Journey of Nigeria to enactment of Piracy Act The journey of Nigeria towards enacting an Act for the suppression of piracy and armed robbery at sea, started over 10 years ago with the recommendation at the International Conference on Piracy and Armed Robbery at Sea held at Sheraton Hotel and Towers, Abuja, from 28th to 30th April, 2008, that a stand-alone Act on the subject be enacted. As at 2015, when President Goodluck Jonathan left office, the Bill I drafted had been submitted to the Federal Ministry of Justice for review, and onward transmission to the National Assembly for enactment. Information from NIMASA in May, 2018 on the status of the Bill, was that the Bill (now renamed ‘Suppression of Piracy and Other Maritime Offences Bill, 2017’), was approved by the Federal Executive Council in December, 2017, and now awaiting President Muhammadu Buhari’s endorsement to the National Assembly, for necessary legislative action. I appeal to President Buhari in whose custody the Bill is, to quickly cause same to be sent to the National Assembly, and upon receipt, the National Assembly should pass it into an Act forthwith, because:(i) 2019 Elections are around the corner and as politicians and law makers get busy with campaigns, hardly would they have time to enact laws, and the Bill may end up awaiting the next legislative session, which would be disastrous. (ii) Pirates and armed robbers at sea, have been adversely affecting shipping in the economy and the security of, Nigeria

“....IF NIGERIA AND THE GULF OF GUINEA STATES, DO NOT KILL PIRACY AND ARMED ROBBERY AT SEA, PIRACY AND ARMED ROBBERY AT SEA, WILL KILL NIGERIA AND THE GULF OF GUINEA STATES!”

and the Gulf of Guinea, and until drastic steps are taken, including enacting the Bill into an Act, the situation will get worse. The Guardian Newspapers of 4 June, 2018 reported inter alia that as at June, 2018, freight on goods to Nigeria had risen 6 times, and the fear of introduction of minimum of US$200,000.00 as insurance premium before foreign ships call at Nigerian ports, had arisen. The report also stated that US$213m was spent to contract maritime security personnel, naval patrols increased by US$13.2m, affiliated escorts (US$9.4m), private patrols protecting vessels in West African sub- region (US134.9m), US$6.6m was spent annually to protect Nigerian security anchorage area, NIMASA spent US$217.8m on counter-piracy; war risk insurance premium and risk insurance to protect crew, was estimated at US$20.7m in 2017, for ships transiting the Gulf of Guinea Listed Area. (iii) Report on the website of the International Maritime Bureau (IMB’s) Piracy Reporting Centre on 1 July, 2018: “the Gulf of Guinea accounts for 29 incidents in 2018 Q1, more than forty percent of the global total. Of the 114 seafarers captured worldwide, all but one were in this region. All four vessels hijackings were in the Gulf of Guinea, where no hijackings were reported in 2017. Two product tankers were hijacked from Cotonou anchorage in mid- January and early February, prompting the IMB PRC to issue a warning to ships. Towards the end of March, two fishing vessels were hijacked 30nm off Nigeria and 27nm off Ghana. “The hijacking of product tankers from anchorages in the Gulf of Guinea, is a cause of concern. In these cases, the intent of the perpetrators, is to steal the oil cargo and kidnap crew. The prompt detection and response to any unauthorised movements of an anchored vessel, could help in the effective response to such attacks”, commented an IMB spokesperson. Nigeria Piracy Hotspot Nigeria alone, recorded 22 incidents. Of the 11 vessels fired upon worldwide, eight were off Nigeria – including a 300,000 MT deadweight VLCC tanker more than 40nm off Brass. “Attacks in the Gulf of Guinea, are against all vessels. Crews have been taken hostage and kidnapped from fishing and refrigerated cargo vessels, as well as product tankers. In some cases, the attacks have been avoided by the early detection of an approaching skiff, evasive action taken by the vessel, and the effective use of citadels. The IMB is working with national and regional authorities in the Gulf of Guinea, to support ships and coordinate counter piracy actions. The authorities from Benin, Nigeria and Togo, have sent out boats in response to several incidents,” said an IMB spokesperson.“ (iv) Until the Bill is enacted into an Act,

“PIRATES AND ARMED ROBBERS AT SEA, HAVE BEEN ADVERSELY AFFECTING SHIPPING IN THE ECONOMY AND THE SECURITY OF, NIGERIA AND THE GULF OF GUINEA, AND UNTIL DRASTIC STEPS ARE TAKEN, INCLUDING ENACTING THE BILL INTO AN ACT, THE SITUATION WILL GET WORSE” pirates and unlawful actors at sea, will not be deterred, but will continue to cause havoc and even when arrested, cannot be successfully prosecuted, convicted and penalised as pirates and unlawful actors, under the current inadequate and archaic Nigerian laws. Conclusion The challenges facing the legal interpretation and judicial application of treaty provisions on piracy, and to some extent, armed robbery at sea, have been highlighted for better understanding and application. However, until African States sign and domesticate the relevant provisions of treaties dealing with piracy and armed robbery or unlawful acts at Sea, their Courts would not start having opportunities to interprete and apply their provisions, in deciding charges of piracy and armed robbery at sea, and their jurisprudence in these areas, will not grow. 3.2. More importantly, if drastic actions are not quickly taken by African States, to ratify or accede to the applicable treaties, domesticate them, and use same as one of the weapons for suppressing or curbing piracy and armed robbery at sea, these crimes will destroy the economies and security of African States, especially those of the Gulf of Guinea States, their shipping interests and capabilities. Please, permit me to adopt the popular statement of President Buhari that ‘if Nigeria does not kill corruption, corruption will kill Nigeria’ in respect of piracy and armed robbery at sea, and say, ‘if Nigeria and the Gulf of Guinea States, do not kill piracy and armed robbery at sea, piracy and armed robbery at sea, will kill Nigeria and the Gulf of Guinea States!’ Mike Igbokwe Esq, LLM (Maritime & Commercial Law), SAN, FCIArb

16/

17.07.2018

UTILIZATION OF FOREIGN EXCHANGE AS AT 13TH OF JULY 2018 S/N

CUSTOMERS

AMOUNT (US$)

PURPOSE

RATE DATE

S/N

CUSTOMERS

AMOUNT (US$)

PURPOSE

RATE DATE

S/N

CUSTOMERS

AMOUNT (US$)

NGOZI EZIKPE

4,000.00 PTA

360.00 9-Jul-18

MALIK SEKINAT OLUBUNMI

4,000.00 PTA

360.00 11-Jul-18

145

ISO PATRICK EKPENYOUNG

NJOKU EMMANUEL OKPARA

4,000.00 PTA

360.00 9-Jul-18

AKINYEMI OLUMUYIWA TUNDE

4,000.00 PTA

360.00 11-Jul-18

146

OGUNBAYO BOLADALE

AKINLEYE OLUMIDE

2,500.00 PTA

360.00 9-Jul-18

ODUSINA SAMUEL DAYO

4,000.00 PTA

TERAB ABBA

4,000.00 PTA

360.00 9-Jul-18

ASCROFT IBIDUN OMOPEJU

1,000.00 PTA

360.00 11-Jul-18

148

RAJI OLAMIDE

3,870.94 PTA

360.00 12-Jul-18

IGBINOSA OSAYUWAMEN V

2,500.00 PTA

360.00 9-Jul-18

SOTILOYE OLUWATOMIWA

4,000.00 PTA

360.00 11-Jul-18

149

ADEDEJI TENIOLA ADERONKE

3,998.91 PTA

360.00 12-Jul-18

KUGHEGBE ESSE BLESSING

1,600.00 PTA

360.00 9-Jul-18

UNWAN BEATRICE

3,000.00 PTA

360.00 11-Jul-18

DR SOFOLA OYINKANSOLA

1,300.00 PTA

360.00 9-Jul-18

ABIODUN-FOWOWE MARY TOPE

JAMES AYENI

1,200.00 PTA

360.00 9-Jul-18

OLAWALE MICHAEL GBEMILEKE

ANUMBA OBIAGELI GRACE

4,000.00 PTA

360.00 9-Jul-18

CHIGBO NNEKA COMFORT

4,000.00 PTA

360.00 11-Jul-18

153

ABOLAJI ADENIKE ADEBOLA

ANUMBA NONNATUS CHIDI

4,000.00 PTA

360.00 9-Jul-18

ALUKO RACHEL EBUN

1,000.00 PTA

360.00 11-Jul-18

154

NWOKOCHA NJIDEKA JUDITH

360.00 9-Jul-18

GBADEGESIN TOSIN GBEMI

2,000.00 PTA

360.00 11-Jul-18

3,000.00 PTA

360.00 11-Jul-18

156

AMAN-OLONIYO BOLA KEMI

200.00 PTA

360.00 11-Jul-18

157

OKOLIE CHARLES N

ADESOLA O AJULO

2,000.00 PTA

ANI ALEX OGOCHUKWU

5,000.00 BTA

360.00 9-Jul-18

AMINA M SULEIMAN

DIXON-OGBECHI NKEM B

2,000.00 PTA

360.00 9-Jul-18

OPADIJO ADERONKE EUNICE

360.00 11-Jul-18

RATE DATE 360.00 12-Jul-18 360.00 12-Jul-18

PURPOSE

663.85 PTA 3,992.08 PTA

147

150

OSEAHON FOLORUNSHO JOY

AKPEJI EMISHO CLEMENTINA

3,992.08 PTA

360.00 12-Jul-18

2,938.43 PTA

360.00 12-Jul-18

500.00 PTA

360.00 11-Jul-18

151

ADEOLA OLUWAYINKA EFETIE

3,751.45 PTA

360.00 12-Jul-18

4,000.00 PTA

360.00 11-Jul-18

152

OYEKANMI AYOMIDE SHERIFF

3,751.45 PTA

360.00 12-Jul-18

155

ORUMADE ANN

808.38 PTA

360.00 12-Jul-18

2,156.96 PTA

360.00 12-Jul-18

3,924.51 PTA

360.00 12-Jul-18

2,833.33 PTA

360.00 12-Jul-18

10,963.87 ACCEPTANCE FEE

360.00 12-Jul-18

UDOH ARNOLD JACKSON

4,000.00 PTA

360.00 9-Jul-18

DR CHIOMA DAISY ONYIGE

1,700.00 PTA

360.00 11-Jul-18

158

MAKU MUYIWA GBOLAHAN M

1,330.70 SCHOOL FEES

360.00 12-Jul-18

GREG S. BATURE

2,000.00 PTA

360.00 9-Jul-18

OBIORAH RITA NNEKA

2,100.00 PTA

360.00 11-Jul-18

159

AKANDE FOLASHADE FUNMI

1,158.30 SCHOOL FEES

360.00 12-Jul-18

ERIC OHEN

600.00 PTA

360.00 11-Jul-18

160

UBA PLC

2,400.00 PTA

DAIBO ORITSESEYI JULIANA

1,850.00 PTA

360.00 9-Jul-18

MMAKWE IBE NICHOLAS

1,300.00 PTA

360.00 11-Jul-18

161

JUST FOOD

UZOKWE PHYLLIS ONYENMA

4,000.00 PTA

360.00 9-Jul-18

IDOWU CHIDI

3,000.00 PTA

360.00 11-Jul-18

162

NCR NIG PLC

BOLADE ESTHER OLUDOLAPO

APRIOKU HENRY SIKA

360.00 9-Jul-18

FAWEHINMI OLAYINKA

17 18

2,158,705.49 APPLICATION LICENSE

500.00 PTA

360.00 9-Jul-18

IHEACHO HENRY

3,400.00 PTA

360.00 11-Jul-18

163

OZIOKO IKECHUKWU B

3,321.25 PTA

360.00 9-Jul-18

ONWUAMAEGBU IJEABALUM

4,000.00 PTA

360.00 11-Jul-18

164

ENGR. ONYEMAOBI EMMANUEL I.

EDMUND NWAMDI OSUJI

2,000.00 PTA

360.00 11-Jul-18

165

362.50 12-Jul-18

76,228.03 COMELLE CM ICE CREAM POWDER 337,297.30 NCR SELFSERV ATM

ODO OFO

362.50 12-Jul-18 362.50 12-Jul-18

2,000.00 PTA

360.00 13-Jul-18

300.00 PTA

360.00 13-Jul-18

2,500.00 PTA

360.00 13-Jul-18

UZOKWE PASCHALCHINEDU

4,000.00 PTA

360.00 9-Jul-18

OSAGIEDE SANDRA EHIOSU

1,457.84 PTA

360.00 9-Jul-18

ARANNILEWA FUNMILAYO BOLA

5,000.00 BTA

360.00 11-Jul-18

166

AGWANIHU NKOLI ELUEMONU

4,000.00 PTA

360.00 13-Jul-18

ANTOINETTE IFEANYI OCHE-OBE

462.56 PTA

360.00 9-Jul-18

ARANNILEWA ELEYITOPE LINUS

5,000.00 BTA

360.00 11-Jul-18

167

MUSA MAIMUNA HASSAN

2,600.00 PTA

360.00 13-Jul-18

EZIKA VERONICA IFEOMA

ADERIBIGBE OJO STEPHEN

JUSTINA LEKTU

GEONLEBEDUM UGOMMA C

231.28 PTA

360.00 9-Jul-18

1,889.46 PTA

360.00 11-Jul-18

350.00 PTA

360.00 13-Jul-18

2,312.80 PTA

360.00 9-Jul-18

ASCROFT IBIDUN OMOPEJU

404.19 PTA

360.00 11-Jul-18

169

CORDELIA CHINYERE NWAGWU

1,000.00 PTA

360.00 13-Jul-18

360.00 9-Jul-18

CHIGBO UCHENNA SAMUEL

3,989.00 PTA

360.00 11-Jul-18

170

EBOHON CATHERINE O

2,900.00 PTA

360.00 13-Jul-18

4,995.65 BTA

OKOCHA FIDELIMA ALICE

1,936.00 PTA

360.00 11-Jul-18

168

171

OLATUNJI ISAAC TOLUWANIMI

FASHANU JUMOKE BISI

4,000.00 PTA

360.00 13-Jul-18

TYENDEZWA TERLUMUN G M

1,040.94 PTA

360.00 9-Jul-18

POLLYN MAUREEN IBELEMA

3,469.80 PTA

360.00 9-Jul-18

100

OKAFOR DAISY NKIRUKA

1,330.60 PTA

360.00 11-Jul-18

172

ADEWOLE ADEKOLARIN W

4,000.00 PTA

360.00 13-Jul-18

OGBUMGBADA GODPOWER I

2,658.00 SCHOOL FEES

360.00 9-Jul-18

101

DR MAUREEN N. KOKO

2,661.20 PTA

360.00 11-Jul-18

173

ADEWOLE ADEKANMI ADEOLA

4,000.00 PTA

360.00 13-Jul-18

TOBILOBA TERNA-UVAH

4,996.40 BTA

CWAY FOOD & BEVERAGES

25,800.00 MIXING MACHINE FORKLIFT ETC

363.50 9-Jul-18

103

IDOWU ABAYOMI JOHN

2,544.54 PTA

360.00 11-Jul-18

175

OSHATI ADEOLA OPEYEMI

4,000.00 PTA

360.00 13-Jul-18

CWAY FOOD & BEVERAGES

30,710.00 MIXING MACHINE FORKLIFT ETC

363.50 9-Jul-18

104

BRIGHT O. EWERE

579.25 PTA

360.00 11-Jul-18

176

AJANDU CHIDINMA

3,000.00 PTA

360.00 13-Jul-18

VICS INVESTMENT NIG LTD

CWAY FOOD & BEVERAGES

2,700.00 SCHOOL FEES

360.00 9-Jul-18

13,670.00 MIXING MACHINE FORKLIFT ETC

363.50 9-Jul-18

102

105

AHIANTE THOMAS

360.00 11-Jul-18

394.66 ACCEPTANCE FEE

360.00 11-Jul-18

AGROFEAST NIG COMPANY LTD

363.50 9-Jul-18

106

OKOH HUDSON

FAREAST &NEWHOMES

28,090.24 VITAMILK BRAND PRODUCTS

363.50 9-Jul-18

107

AUNTY GINA NIG ENT

FAREAST &NEWHOMES

19,949.68 VITAMILK BRAND PRODUCTS

363.50 9-Jul-18

108

HOME OPTIONS LTD

13,829.86 SCHOOL FEES

360.00 11-Jul-18

FAREAST &NEWHOMES

50,124.20 VITAMILK BRAND PRODUCTS

363.50 9-Jul-18

109

MARINK INVESTMENT LTD

14,636.60 COURSE FEE

360.00 11-Jul-18

CHELLARAMS DNK

83,583.35 INSTANT SKIMMED MILK POWDER

363.50 9-Jul-18

110

ISHOLA ADEPEJU

BRUNELLI PICCOLO DANTE

360.00 10-Jul-18

111

ADEOYE JUBRIL

AKINSHILO MOTOLANI ADETOUN

176,904.00 NICOSULFURON

5,000.00 BTA 4,000.00 PTA

360.00 10-Jul-18

112

WEMA BANK

174

177

GEORGE TAYO OLA

OYEBODE HENRIETTA O

700.00 PTA

360.00 13-Jul-18

3,725.68 PTA

360.00 13-Jul-18

4,853.00 SCHOOL FEES

360.00 11-Jul-18

178

ADAAI SUFYAN ABDULMALIK

3,992.10 PTA

360.00 13-Jul-18

11,532.00 SCHOOL FEES

360.00 11-Jul-18

179

BABS-OLUGBEMI OLATUNDE

1,330.70 PTA

360.00 13-Jul-18

180

SOKARIBA CHARLES MRS

3,725.96 PTA

360.00 13-Jul-18

181

ODUSOTE BAMIDELE DAMILOLA

1,091.17 PTA

360.00 13-Jul-18

63.71 SCHOOL FEES

360.00 11-Jul-18

182

NWACHUKWU K. CHUKWUEKWU

2,661.40 PTA

360.00 13-Jul-18

652.26 SCHOOL FEES

360.00 11-Jul-18

183

AIBINUOMO OLUGBEMI TIMOTHY

1,357.40 PTA

360.00 13-Jul-18

265,072.39 INTERBANK

362.20 11-Jul-18

184

AKINLOYE AKINTOLA TOLANI

3,991.80 PTA

360.00 13-Jul-18

AKOGU EMMANUEL CHIDI JUDE

500.00 PTA

360.00 10-Jul-18

113

DIAMOND BANK

1,000,000.00 INTERBANK

362.20 11-Jul-18

185

AJARU ANTHONIA CHINWE

4,990.76 BTA

360.00 13-Jul-18

IDUORIYEKEMWEN HENRIETTA O

4,000.00 PTA

360.00 10-Jul-18

114

ZENITH BANK

2,000,000.00 INTERBANK

362.20 11-Jul-18

186

ADEBULE AFOLAKE JOKE

1,330.69 PTA

360.00 13-Jul-18

115

ACCESS BANK

UGWUOKE HYACINTH

5,000.00 BTA

360.00 10-Jul-18

ADENIRAN BABAJIDE ADEBAYO

4,000.00 BTA

359.00 10-Jul-18

116

SKYE BANK

WUAM QUEEN ELIZABETH

2,380.00 PTA

359.00 10-Jul-18

117

IATA

2,163,392.82 INTERBANK

362.20 11-Jul-18

110,450.76 INTERBANK 14,333,294.37 ICCS-REMITTANCE OF TKT SALES

187

REMI FARIDAT BOLAJI

4,646.93 BTA

360.00 13-Jul-18

362.20 11-Jul-18

188

OYESOLA OLUBUNMI

1,582.35 PTA

360.00 13-Jul-18

362.20 11-Jul-18

189

SADIKU ABIODUN RILWAN

3,706.58 PTA

360.00 13-Jul-18

UDOH CHRISTOPHER EMMANUEL

2,500.00 PTA

360.00 10-Jul-18

118

IATA

1,211,736.31 ICCS-REMITTANCE OF TKT SALES

362.20 11-Jul-18

3,487.17 PTA

360.00 13-Jul-18

OKUNNU IBIDAPO EMMANUEL

2,500.00 PTA

360.00 10-Jul-18

119

IATA

1,171,353.21 ICCS-REMITTANCE OF TKT SALES

362.20 11-Jul-18

191

GEORGE TAYO OLA

698.32 PTA

360.00 13-Jul-18

ABAYOMI ABIOLA GANIYAT

4,000.00 PTA

360.00 10-Jul-18

120

OLAREWAJU ABAYOMI

360.00 12-Jul-18

192

NTEMUSE SUNDAY

1,742.83 PTA

360.00 13-Jul-18

ABAYOMI DOLAPO ABDULKADIR

4,000.00 PTA

360.00 10-Jul-18

360.00 12-Jul-18

193

OKOYE THADDEUS SUNDAY C

UMEH CHUKWUEMEKA SAMUEL

5,000.00 BTA

360.00 10-Jul-18

122

OGUNBEKUN OLANREWAJU H

4,000.00 PTA

360.00 12-Jul-18

194

AKINDURO JERRY

360.00 10-Jul-18

123

OSADUNKWU CHUKWUKA JOHN

1,000.00 PTA

360.00 12-Jul-18

ENWEREUZOR EZE ANTHONY

3,000.00 PTA

121

ALIYU ZUBAIDA AHMAD

2,000.00 PTA 4,000.00 PTA

190

195

ORLU-ORLU CHIMENE HYACINTH

AKINJOBI TUNDE OLUFEMI

MOHAMMED KUDU SAFIYA

1,400.00 PTA

360.00 10-Jul-18

124

OKAFOR EKENE GABRIEL

1,000.00 PTA

360.00 12-Jul-18

196

AYANBODE FELIX ALAYANDE

MOHAMMED HARUNA RASHID

4,000.00 PTA

360.00 10-Jul-18

125

OSITUYO BAMIDELE BUKUNOLA

4,000.00 PTA

360.00 12-Jul-18

197

AFOLABI OLAYINKA AYODELE

360.00 13-Jul-18 360.00 13-Jul-18

3,985.18 PTA

360.00 13-Jul-18 360.00 13-Jul-18

JOHN DORIS JAPHET

4,000.00 PTA

360.00 10-Jul-18

OGHENEKPAROBO E. WEALTH

4,000.00 PTA

360.00 12-Jul-18

ATIEMIE JAMES CHRISTIAN

1,745.83 PTA

OBIORAH RITA NNEKA

2,100.00 PTA

360.00 10-Jul-18

127

OGUNEKO OLUWATOYIN O

4,000.00 PTA

360.00 12-Jul-18

199

ARIBISALA OLADUNNI OLASIMBO

3,950.42 PTA

360.00 10-Jul-18

128

DINA OLUSEGUN SAMUEL

400.00 PTA

360.00 12-Jul-18

200

ONYENZE UGO PRINCEWILL

198

360.00 13-Jul-18

289.51 PTA 3,839.92 PTA

55 56

126

929.51 PTA 2,325.20 PTA

360.00 13-Jul-18 360.00 13-Jul-18

728.61 ACCEPTANCE FEE

360.00 13-Jul-18

IKPONMWOSA HENRIETTA

3,000.00 PTA

AZUBUIKE LESLIE CHUDE

2,800.00 PTA

360.00 10-Jul-18

AKINLOYE ZECHARIAH

600.00 PTA

360.00 10-Jul-18

130

ETAREH CHARITY OGHENEVWEDE

4,000.00 PTA

360.00 12-Jul-18

202

ELUFIOYE SUBUOLA TEMITOPE

4,657.45 SCHOOL FEES

360.00 13-Jul-18

NJOKU-ANOWEY IJEOMA O

1,351.30 PTA

360.00 10-Jul-18

131

UTOH NATH OKEY

1,000.00 PTA

360.00 12-Jul-18

203

OWATE ISREAL O

5,322.80 SCHOOL FEES

360.00 13-Jul-18

129

2,000.00 PTA

360.00 12-Jul-18

201

OGOJI FEYISAYO CHARLES WALE

1,330.70 UPKEEP

360.00 13-Jul-18

TAYO TORRU ANGEL

2,936.57 BTA

360.00 10-Jul-18

ONU CHARLES ONYEWUCHI

4,000.00 PTA

6,653.50 SCHOOL FEES

360.00 13-Jul-18

OFODILE FRANCIS EMEKA

3,721.20 PTA

360.00 10-Jul-18

133

OYELADE MORONKE YEMISI

2,000.00 PTA

360.00 12-Jul-18

205

KABIRU ADO HUSAINI

3,992.10 SCHOOL FEES

360.00 13-Jul-18

EZEGWE NNENNA

8,917.75 SCHOOL FEES

360.00 10-Jul-18

134

SHODUNKE ABIOLA AJOKE

4,000.00 PTA

360.00 12-Jul-18

206

CHUKWUJEKWE RAYMOND N

1,877.27 ACCOMODATION FEE

132

MUSAH EFUE PEACE

204

MBAH LINUS NTO

UMOETTEH JOSEPH HASNSON

12,900.00 SCHOOL FEES

360.00 10-Jul-18

135

CHIJIOKE O. OGUEJIOFOR

1,000.00 PTA

360.00 12-Jul-18

207

CHUKWUJEKWE RAYMOND N

BAMISILE KAYODE RUFUS

14,636.60 SCHOOL FEES

360.00 10-Jul-18

136

ARINZE MODEBE ELIZABETH C

1,500.00 PTA

360.00 12-Jul-18

208

ISONI FRANCESCA NNANG

360.00 13-Jul-18

5,666.70 SCHOOL FEES

360.00 13-Jul-18

12,205.20 SCHOOL FEES

360.00 13-Jul-18

4,110.89 SCHOOL FEES

360.00 13-Jul-18

EHIGIE SANDRA

2,661.20 SCHOOL FEES

360.00 10-Jul-18

137

EGBIKUADJE WILLIAMS OKPAKO

1,500.00 PTA

360.00 12-Jul-18

209

WADZANI OBED

AKOMOLAFE TOSIN AJUDEEN

7,215.27 SCHOOL FEES

360.00 10-Jul-18

138

AKIYODE AKIN HAFEEZ

4,989.75 BTA

360.00 12-Jul-18

210

UBA PLC

359,784.24 APPLICATION LICENSE

362.50 13-Jul-18

WEST AFRICAN CERAMICS LTD

5,000.00 INDAL CALCINED ALUMINA

363.00 10-Jul-18

139

ISIGUZO ONUNNADIRE NNEKA

2,661.20 PTA

360.00 12-Jul-18

211

EGYPT AIR

550,000.00 REMITTANCE OF TICKET SALES

362.00 13-Jul-18

1,019,198.71 ICCS-REMITTANCE OF TKT SALES

362.00 13-Jul-18

360.00 12-Jul-18

212

WEST AFRICAN CERAMICS LTD

5,000.00 VARIOUS CERAMICS INKS

363.00 10-Jul-18

141

EDEMA-OFONI EYITUOYO RUTH

1,330.60 PTA

360.00 12-Jul-18

213

TINCAN ISLAND

WEST AFRICAN CERAMICS LTD

5,000.00 VARIOUS PIGMENTS

363.00 10-Jul-18

142

UJAH ACHETU MARY

1,091.09 PTA

360.00 12-Jul-18

214

AL-AMIN AQUA INT. FARMING

AJAIYEOBA AYOTUNDE IDOWU

4,000.00 PTA

360.00 11-Jul-18

143

IDAHOSA JOSEPHINE UWA

369.09 PTA

360.00 12-Jul-18

SHOFOLU ADEBAYO FUNMILADE

4,000.00 PTA

359.00 11-Jul-18

144

FERIFE OTHUKE PATRICK

3,894.89 PTA

360.00 12-Jul-18

FRANK HENDRIKS

2,500.00 PERSONAL HOME REMITIANCE

361.20 10-Jul-18

140

OYINLOLA NINIOLA FEMI

2,395.08 PTA

IATA

700,000.00 LEASE PAYMENT

362.00 13-Jul-18

914.43 KGS POULTRY-MEAL 63

362.50 13-Jul-18

SOURCE OF FOREIGN EXCHANGE AS AT 13TH OF JULY 2018 S/N

AUTONOMOUS

RATE DATE

S/N

AUTONOMOUS

S/N

AUTONOMOUS

20,000.00

360.00 9-Jul-18

AUTONOMOUS

475.00

344.94 10-Jul-18

141

AUTONOMOUS

2,495.29

346.17 12-Jul-18

AUTONOMOUS

80,000.00

360.00 9-Jul-18

AUTONOMOUS

482.00

344.94 10-Jul-18

142

AUTONOMOUS

181.46

346.17 12-Jul-18

INTERBANK

431,837.24

362.65 9-Jul-18

AUTONOMOUS

482.00

344.94 10-Jul-18

143

AUTONOMOUS

394.47

346.17 12-Jul-18

AUTONOMOUS

57.70

346.17 9-Jul-18

AUTONOMOUS

500.00

344.94 10-Jul-18

144

AUTONOMOUS

30.00

346.17 12-Jul-18

AUTONOMOUS

346.20

346.17 9-Jul-18

AUTONOMOUS

525.00

344.94 10-Jul-18

145

AUTONOMOUS

88.26

346.17 12-Jul-18

AUTONOMOUS

707.27

346.17 9-Jul-18

AUTONOMOUS

572.50

344.94 10-Jul-18

146

AUTONOMOUS

93.69

345.00 12-Jul-18

AUTONOMOUS

20.75

344.94 9-Jul-18

AUTONOMOUS

600.00

344.94 10-Jul-18

147

AUTONOMOUS

100.00

346.17 12-Jul-18

AUTONOMOUS

70.00

344.94 9-Jul-18

AUTONOMOUS

625.00

344.94 10-Jul-18

148

AUTONOMOUS

101.37

346.17 12-Jul-18

AUTONOMOUS

82.78

344.94 9-Jul-18

AUTONOMOUS

687.00

344.94 10-Jul-18

149

AUTONOMOUS

120.00

346.17 12-Jul-18

AUTONOMOUS

102.98

344.94 9-Jul-18

AUTONOMOUS

700.00

344.94 10-Jul-18

150

AUTONOMOUS

148.60

346.17 12-Jul-18

AUTONOMOUS

109.00

344.94 9-Jul-18

AUTONOMOUS

717.87

344.94 10-Jul-18

151

AUTONOMOUS

190.00

346.17 12-Jul-18

AUTONOMOUS

139.60

344.94 9-Jul-18

AUTONOMOUS

790.00

344.94 10-Jul-18

152

AUTONOMOUS

247.79

346.17 12-Jul-18

AUTONOMOUS

210.04

344.94 9-Jul-18

AUTONOMOUS

935.00

344.94 10-Jul-18

153

AUTONOMOUS

328.45

346.17 12-Jul-18

AUTONOMOUS

228.00

344.94 9-Jul-18

AUTONOMOUS

940.00

344.94 10-Jul-18

154

AUTONOMOUS

373.44

346.17 12-Jul-18

AUTONOMOUS

255.72

344.94 9-Jul-18

AUTONOMOUS

1,174.78

344.94 10-Jul-18

155

AUTONOMOUS

400.00

346.17 12-Jul-18

AUTONOMOUS

267.08

344.94 9-Jul-18

AUTONOMOUS

1,200.00

344.94 10-Jul-18

156

AUTONOMOUS

400.00

346.17 12-Jul-18

AUTONOMOUS

284.00

344.94 9-Jul-18

AUTONOMOUS

1,292.84

344.94 10-Jul-18

157

AUTONOMOUS

423.18

346.17 12-Jul-18

AUTONOMOUS

285.00

344.94 9-Jul-18

AUTONOMOUS

1,296.02

344.94 10-Jul-18

158

AUTONOMOUS

531.00

346.17 12-Jul-18

AUTONOMOUS

323.00

344.94 9-Jul-18

AUTONOMOUS

1,700.00

344.94 10-Jul-18

159

AUTONOMOUS

550.00

346.17 12-Jul-18

AUTONOMOUS

400.00

344.94 9-Jul-18

AUTONOMOUS

2,000.00

344.94 10-Jul-18

160

AUTONOMOUS

703.79

346.17 12-Jul-18

AUTONOMOUS

420.00

344.94 9-Jul-18

AUTONOMOUS

2,000.00

344.94 10-Jul-18

161

AUTONOMOUS

846.00

346.17 12-Jul-18

AUTONOMOUS

473.98

344.94 9-Jul-18

AUTONOMOUS

2,085.00

344.94 10-Jul-18

162

AUTONOMOUS

918.29

346.17 12-Jul-18

AUTONOMOUS

532.42

344.94 9-Jul-18

IMTO

2,390.92

354.83 10-Jul-18

163

AUTONOMOUS

990.00

346.17 12-Jul-18

AUTONOMOUS

640.00

344.94 9-Jul-18

IMTO

3,245.49

355.00 10-Jul-18

164

AUTONOMOUS

1,870.84

346.17 12-Jul-18

AUTONOMOUS

813.96

344.94 9-Jul-18

IMTO

3,421.53

355.00 10-Jul-18

165

IMTO

1,901.52

354.83 12-Jul-18

AUTONOMOUS

1,300.00

344.94 9-Jul-18

AUTONOMOUS

3,869.63

344.94 10-Jul-18

166

AUTONOMOUS

1,980.00

346.17 12-Jul-18

IMTO

1,565.92

354.85 9-Jul-18

AUTONOMOUS

7,500.00

344.94 10-Jul-18

167

AUTONOMOUS

1,990.00

346.17 12-Jul-18

AUTONOMOUS

1,600.00

344.94 9-Jul-18

AUTONOMOUS

8,526.98

346.17 10-Jul-18

168

IMTO

3,050.31

355.00 12-Jul-18

AUTONOMOUS

1,715.00

344.94 9-Jul-18

IMTO

9,080.54

355.00 10-Jul-18

169

AUTONOMOUS

30,000.00

345.00 12-Jul-18

IMTO

2,673.01

355.00 9-Jul-18

100

AUTONOMOUS

10,000.00

345.00 10-Jul-18

170

IMTO

179,025.57

355.00 12-Jul-18

AUTONOMOUS

12,225.00

345.00 9-Jul-18

101

IMTO

225,785.74

355.00 10-Jul-18

171

IMTO

257,449.52

355.00 12-Jul-18

IMTO

144,020.24

355.00 9-Jul-18

102

IMTO

297,661.10

355.00 10-Jul-18

172

CBN

2,000,000.00

357.00 12-Jul-18

IMTO

233,744.06

354.91 9-Jul-18

103

AUTONOMOUS

247,642.56

361.90 11-Jul-18

173

CBN

3,000,000.00

357.00 12-Jul-18

AUTONOMOUS

4,000.00

360.00 10-Jul-18

104

AUTONOMOUS

34.94

346.17 11-Jul-18

174

AUTONOMOUS

7,000.00

359.50 13-Jul-18

AUTONOMOUS

28.70

346.17 10-Jul-18

105

AUTONOMOUS

92.97

346.17 11-Jul-18

175

AUTONOMOUS

430,000.00

361.00 13-Jul-18

AUTONOMOUS

80.78

346.17 10-Jul-18

106

AUTONOMOUS

347.99

346.17 11-Jul-18

176

AUTONOMOUS

63.83

346.17 13-Jul-18

AUTONOMOUS

85.73

346.17 10-Jul-18

107

AUTONOMOUS

640.64

346.17 11-Jul-18

177

AUTONOMOUS

116.06

346.17 13-Jul-18

AUTONOMOUS

126.94

346.17 10-Jul-18

108

AUTONOMOUS

900.63

346.17 11-Jul-18

178

AUTONOMOUS

192.44

346.17 13-Jul-18

AUTONOMOUS

225.03

346.17 10-Jul-18

109

AUTONOMOUS

98.44

346.17 11-Jul-18

179

AUTONOMOUS

237.28

346.17 13-Jul-18

AUTONOMOUS

375.05

346.17 10-Jul-18

110

AUTONOMOUS

525.00

346.17 11-Jul-18

180

AUTONOMOUS

406.21

346.17 13-Jul-18

AUTONOMOUS

576.99

346.17 10-Jul-18

111

AUTONOMOUS

20.00

346.17 11-Jul-18

181

AUTONOMOUS

580.30

346.17 13-Jul-18

AUTONOMOUS

600.07

346.17 10-Jul-18

112

AUTONOMOUS

35.75

346.17 11-Jul-18

182

AUTONOMOUS

39.26

346.17 13-Jul-18

AUTONOMOUS

657.77

346.17 10-Jul-18

113

AUTONOMOUS

49.98

346.17 11-Jul-18

183

AUTONOMOUS

39.47

345.00 13-Jul-18

AUTONOMOUS

2,279.12

346.17 10-Jul-18

114

AUTONOMOUS

76.00

346.17 11-Jul-18

184

AUTONOMOUS

50.00

346.17 13-Jul-18

AUTONOMOUS

176.25

346.17 10-Jul-18

115

AUTONOMOUS

90.33

346.17 11-Jul-18

185

AUTONOMOUS

113.00

346.17 13-Jul-18

AUTONOMOUS

325.51

346.17 10-Jul-18

116

AUTONOMOUS

100.00

346.17 11-Jul-18

186

AUTONOMOUS

113.97

346.17 13-Jul-18

AUTONOMOUS

326.39

346.17 10-Jul-18

117

AUTONOMOUS

161.63

346.17 11-Jul-18

187

AUTONOMOUS

118.55

346.17 13-Jul-18

AUTONOMOUS

367.16

346.17 10-Jul-18

118

AUTONOMOUS

392.67

346.17 11-Jul-18

188

AUTONOMOUS

135.00

346.17 13-Jul-18

AUTONOMOUS

490.38

346.17 10-Jul-18

119

AUTONOMOUS

400.00

346.17 11-Jul-18

189

AUTONOMOUS

145.00

346.17 13-Jul-18

AUTONOMOUS

7.47

346.17 10-Jul-18

120

AUTONOMOUS

400.00

346.17 11-Jul-18

190

AUTONOMOUS

155.00

346.17 13-Jul-18

IMTO

46.96

354.73 10-Jul-18

121

AUTONOMOUS

506.00

346.17 11-Jul-18

191

AUTONOMOUS

180.00

346.17 13-Jul-18

AUTONOMOUS

67.84

344.94 10-Jul-18

122

AUTONOMOUS

561.05

346.17 11-Jul-18

192

AUTONOMOUS

200.00

346.17 13-Jul-18

AUTONOMOUS

90.00

344.94 10-Jul-18

123

AUTONOMOUS

722.72

346.17 11-Jul-18

193

AUTONOMOUS

289.66

346.17 13-Jul-18

AUTONOMOUS

100.00

344.94 10-Jul-18

124

AUTONOMOUS

975.00

346.17 11-Jul-18

194

AUTONOMOUS

300.00

346.17 13-Jul-18

AUTONOMOUS

100.00

344.94 10-Jul-18

125

AUTONOMOUS

1,480.00

346.17 11-Jul-18

195

AUTONOMOUS

450.00

346.17 13-Jul-18

AUTONOMOUS

100.00

344.94 10-Jul-18

126

AUTONOMOUS

1,492.00

346.17 11-Jul-18

196

AUTONOMOUS

511.49

346.17 13-Jul-18

AUTONOMOUS

100.00

344.94 10-Jul-18

127

IMTO

2,718.21

354.81 11-Jul-18

197

AUTONOMOUS

980.00

346.17 13-Jul-18

AUTONOMOUS

100.00

344.94 10-Jul-18

128

AUTONOMOUS

3,250.00

346.17 11-Jul-18

198

AUTONOMOUS

1,000.00

346.17 13-Jul-18

IMTO

110.73

355.00 10-Jul-18

129

AUTONOMOUS

4,020.00

346.17 11-Jul-18

199

AUTONOMOUS

1,200.00

346.17 13-Jul-18

AUTONOMOUS

168.78

344.94 10-Jul-18

130

IMTO

4,243.75

355.00 11-Jul-18

200

IMTO

1,744.23

354.85 13-Jul-18

AUTONOMOUS

210.00

344.94 10-Jul-18

131

AUTONOMOUS

100,000.00

345.00 11-Jul-18

201

AUTONOMOUS

2,500.00

346.17 13-Jul-18

AUTONOMOUS

216.00

344.94 10-Jul-18

132

AUTONOMOUS

150,000.00

343.88 11-Jul-18

202

AUTONOMOUS

2,501.07

346.17 13-Jul-18

AUTONOMOUS

240.00

344.94 10-Jul-18

133

AUTONOMOUS

200,000.00

343.88 11-Jul-18

203

IMTO

2,750.74

355.00 13-Jul-18

AUTONOMOUS

240.00

344.94 10-Jul-18

134

IMTO

258,306.82

355.00 11-Jul-18

204

AUTONOMOUS

3,480.77

346.17 13-Jul-18

AUTONOMOUS

290.00

344.94 10-Jul-18

135

IMTO

376,736.17

355.00 11-Jul-18

205

AUTONOMOUS

7,046.56

346.17 13-Jul-18

AUTONOMOUS

290.00

346.17 10-Jul-18

136

AUTONOMOUS

4,000.00

360.00 12-Jul-18

206

AUTONOMOUS

14,774.37

346.00 13-Jul-18

AUTONOMOUS

324.85

344.94 10-Jul-18

137

AUTONOMOUS

767,000.00

361.00 12-Jul-18

207

IMTO

169,362.06

355.00 13-Jul-18

AUTONOMOUS

335.00

344.94 10-Jul-18

138

AUTONOMOUS

25,000,000.00

362.00 12-Jul-18

208

IMTO

249,890.15

355.00 13-Jul-18

AUTONOMOUS

343.95

346.17 10-Jul-18

139

AUTONOMOUS

116.06

346.17 12-Jul-18

209

AUTONOMOUS

513,509.48

330.00 13-Jul-18

AUTONOMOUS

350.00

344.94 10-Jul-18

140

AUTONOMOUS

1,830.31

346.17 12-Jul-18

www.ubagroup.com

AMOUNT (US$)

RATE DATE

AMOUNT (US$)

RATE DATE

Africaâ€™s global bank

T H I S D AY ˾ ˜ JULY 17, 2018

BUSINESSWORLD R A T E S MONEY MARKET OBB OVERNIGHT

A S

A T

REPO 8.92 % 9..42 %

CALL 1-MONTH 3-MONTH

12% 12.75 % 13.50%

Group Business Editor Obinna Chima Email obinna.chima@thisdaylive.com 08024557078, 08091152219

J U L Y 1 3 , 2 0 1 8 S & P INDEX INDEX LEVEL 1-DAY MONTH-TO-DATE

353.03% -0.03% -0.32%

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

-0.32% 7.15%

EXCHANGE RATE N305.801US DOLLAR* *AS AT LAST FRIDAY

Quick Takes AXA Mansard Wins Award

AXA Mansard Insurance Plc, a member of the AXA Group recently won the insurance company of the year award at the sixth edition of the Marketing Edge Brand and Advertising Excellence Awards which took place in Lagos. According to the organisers, the award, was presented to AXA Mansard Insurance in recognition of its excellent service delivery and immense contribution to the Nigerian insurance sector as well as the country at large. Marketing Edge Brand and Advertising Excellence Awards is an annual event that recognises and celebrates outstanding personalities and brands for their contributions in their various industries. The award, in the last six years, has become the benchmark for recognising and celebrating talents and milestones in the integrated marketing communication industry in Nigeria. Speaking on the recognition, the Brand Strategy and Communications Manager, AXA Mansard Insurance Mr. Emeka Muonaka, said, “We are truly thrilled to be recognised as the Outstanding Insurance Company of the Year.This award is in recognition of our unwavering commitment to provide eﬀective service to our customers and we promise to never relent on making meaningful contributions to the growth and evolution of the Nigerian insurance industry.” Recently, the AXAMansard launched MyAXA Mobile App, an application designed to bring real value to the life experiences of its users by providing a more convenient way to purchase and manage their AXA Mansard product plans. The app is available for free download on the App Store for IOS users and Play Store for Android users respectively.

GLOBAL RANKING

L-R: President, Lagos Business School (LBS) Alumni Association, Mrs. Claire Omatseye; Director, MBA Programmes, Dr. Uchenna Uzo, Director of Faculty, Dr. Yinka David-West and Alumnus, LBS EMBA, Mr. Ayodele Akinwunmi, at a media brieﬁng on LBS’ Global Ranking held in Lagos…recently

Nigeria’s Unused Electricity Volume Projected to Rise by 2,130MW Stories Chineme Okafor in Abuja

The total volume of unused electricity from Nigeria’s national grid will rise by 2,130 megawatts (MW), to add to an existing 2000MW idle volumes that power distribution companies (Discos) are unable to take to homes and offices in the country, the Minister of Power, Works and Housing, Mr. Babatunde Fashola has disclosed. Fashola, who stated this at a media briefing in Abuja, disclosed that between now and 2019, the country’s unused

ENERGY electricity volume will increase to 4,130MW, an equivalent of what the 11 Discos are currently supplied to distribute across the country. He explained the additional volumes would come from 455MW Azura-Edo plant; 215MW Kaduna plant; 240MW Afam III Fast Power; 40MW Kashimbilla hydro plant in 2018, while in 2019, the 700MW Zungeru hydro plant; and 480MW Okpai II power plant would come on stream to complete the equation. He also stated that the capacity

of the country’s transmission network had grown between 2015 and 2017 at an average of 1,062MW. “Transmission has also increased from 5,000MW approximately in 2015 to 7,124MW approximately in December 2017 averaging 1,062MW per annum increase in transmission capacity. “TCN currently has about 90 transmission projects in various stages of construction and many are to be completed this year,” Fashola said. According to him, “So, we can transport what the Gencos generate and there is a transmission expansion plan 2018 to 2028

which government is committed to implement.” He explained that the country’s distribution capacity increased from approximately 2,690MW in 2015 to 5,222MW in 2018, averaging an increase of 844MW per annum. Fashola, said this was possible because the Discos have also done some work, adding that from 2016 when the Discos complained about lack of enough power to distribute, the volume of power available to them has increased and they are now unable to take them Continued on page 22

NERC Scrutinises Discos’ Capital Spends Before Tariff Review The Nigerian Electricity Regulatory Commission (NERC) would be taking a deeper look at how the 11 electricity distribution companies (Discos) have utilised the capital expenditure allowed for them in their respective existing tariffs before agreeing to sign off a new tariff for them, a quarterly report of the commission has disclosed. Prepared for the 2017 third-quarter business period, the quarterly report indicated the capital expenditure review would be done to determine how cost-efficient they were with the expenditures they made for capital projects and acquisitions. The report obtained from the webpage of the NERC, also noted that the efficiency

ENERGY level of billings and revenue collections of the Discos for the period were poor. It linked the poor revenue collection showing of the Discos to consumers’ apathy to estimated electricity billing; inefficient distribution networks; illegal connection and non-collection of revenue by the Discos’ agents. “While the government has commenced the implementation of a payment assurance facility for power generators as a means of sustaining generation levels, the commission has accordingly identified in its 2017-2020 strategic plan the actionable items towards addressing constraints in transmission and distribution

networks. “The planned strategy includes a thorough technical assessment of Discos’ utilisation of its capital expenditure allowances for relevance and cost efficiency and a tariff reset in order to stimulate investments in network infrastructure,” the report stated According to it, “The level of billing efficiency during the third quarter indicates that for every 10kWh of energy received by a Disco from the transmission company, approximately 2.3kWh is lost due to technical constraint and illegal connection. “In other words, for every N10 worth of electricity received by Discos, N2.30 is lost due to poor distribution infrastructure and energy theft.”

In terms of issues of safety in the country’s electricity network, NERC explained the rate of accidents and deaths by electrocution were still high, and that it initiated about 12 enforcement actions against its licensees in this regards. “In the third quarter of 2017, the commission received a total of 47 health and safety reports from licensees. The reports indicated that there were 37 accidents during the period under review. The accidents resulted in 25 deaths and 15 injuries of various degrees involving both employees of the companies and third parties,” it stated. Continuing, the report noted Continued on page 22

Winners Emerge in Spectranet Promo

Keeping to the promise of engaging and rewarding customers, one of the leading internet service provider, Spectranet 4GLTE has unveiled the first set of winners in its world cup promo. Out of thousands of subscribers that participated in the campaign, 216 subscribers emerged as winners from a draw observed by representatives of lottery regulatory bodies- National Lottery RegulatoryCommission,ConsumerProtectionCouncilandtheLagos State Lotteries Board. Olanrewaju Olapade emerged as winner of the star prize – a Trip to Dubai. Also, five customers comprising Bakare Abiola and Nzete Promise, got unlimited data for one year. Similarly, Nzei Uche, Akinsipe Olaoluwa and Victoria Obenoh were among 10 subscribers rewarded with 42 inches LED TV, just as 200 subscribers were handed the privilege to choose either 7GB data or bluetooth speakers for purchasing Spectranet devices and subscribing to data plans in June when the promotion commenced. Dubbed ‘Connect & Win Big’, the promotion drummed support for Nigeria’s male national team as they jostled for honours at the just concluded 2018 FIFA World Cup. Prior to the commencement of the draw, the chief Executive Officer Spectranet Ajay Awasthi said, “The innovative nature of Spectranet led to the initiative of rewarding customers for supporting the Super Eagles team in the World Cup.” Ajay further revealed that Spectranet remained committed to excellent service offering with renewed and upgraded facilities that will continue to improve the subscribers’ experience of the brand even after the World Cup.

Ericsson Rewards Innovation

Ericsson through its ninth annual participation in the ‘Girls in ICT Day’ across the Middle East and Africa recently hosted the second edition of the annual ‘Girls Who Innovate Competition.’ The theme of the event was, ‘The Future of Education.’ However, this year, 10-year old Kambinachi Kanu, a final year primary school pupil from Nigeria emerged as the global winner in the 9-12-year-old category. The initiative aims to support the Sustainable Development Goals (SDGs) set by the United Nations, especially Goals four and five - Quality Education and Gender Equality respectively. According to a statement, Ericsson received many enthusiastic entries from young innovators aged nine to 18, who competed to win job shadow days, an Ericsson blog feature and a 1,000 EUR star prize. Their entries showcased different ideas on how technology could shape the future of education globally.

“It will interest us to know that the tourism sector is one of the greatest employer of labour in the world and its contribution to the economy is quite huge”

MD, Transcorp Mr Valentine Ozigbo

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BUSINESSWORLD NIGERIA’S UNUSED ELECTRICITY VOLUME PROJECTED TO RISE BY 2,130MW

to consumption points in the country, leaving the sector with an unused capacity of 2000MW. Also, with regards to revenue collection by the Discos, the minister asked the Nigerian Bulk Electricity Trading Plc (NBET), to work out measures with the Bureau of Public Enterprises (BPE) on how to get the Discos to improve their monthly collections. As regards equity investments in the Discos, the minister explained the government has committed to invest N76 billion for the procurement and installation of distribution equipment to enable the Discos evacuate the existing 2000MW unused electricity volumes to consumers, as well as N37 billion in the Meter Asset Providers (MAPs) regulation of the Nigerian Electricity Regulatory Commission (NERC) to enable licensed meter investors supply meters to Discos for onward NERC SCRUTINISES DISCOS’ CAPITAL SPENDS BEFORE TARIFF REVIEW

that, “The investigation of the accidents by the commission led to the commencement of twelve enforcement actions against the licensees whose negligence was found to be responsible for or have contributed to the accidents.” It however warned that, “The commission takes safety of all electricity users and all other Nigerians very seriously and it is concerned about the relatively high number of incidences in NESI. “Thus, the commission has included in its newly drafted strategic plan various safety enforcement mechanisms and programmes aiming at tackling recurring accidents in the industry. “Among the safety programmes to be implemented by the commission are the standardisation of protection scheme, engagement of government agencies on Right of Way (RoW) violation, increased public enlightenment on safety, and review of operational procedures for Distribution System Operators (DSOs) on fault clearing,” the regulator added in its quarterly report.

Group Business Editor

Obinna Chima

Capital Market Editor

Goddy Egene

AgriBusiness/Industry Editor

Jonathan Eze

Comms/e-Business Editor

Emma Okonji

Senior Correspondent

Raheem Akingbolu (Advertising) Correspondents

Chinedu Eze (Aviation) Linda Eroke (Labour) Eromosele Abiodun (Cap Mkt) Ejiofor Alike (Energy) James Emejo (Nation’s Capital) Reporters

Nume Ekeghe (Money Market)

NEWS

Firm Invests N98bn in Local Content Development Chineme Okafor in Abuja About N98 billion would be expended by a Nigerian firm, Mudiame International Limited to strengthen local content and human capacity development in Nigeria’s oil and gas sector, its Managing Director, Sunny Eromosele, has said. Eromosele, told journalists in Abuja that the company would as part of the planned investment, complete a university with the primary focus on addressing human capacity challenges in the oil industry. The university, he explained would train specialists for Nigeria oil, gas and manufacturing sector. He explained the money would be spent over a 10-year period by the Nigerian-based testing, calibration and inspection company, to help bridge the gap in local content, especially technological know-how in the country’s oil, gas and manufacturing sectors. According to him, Nigeria’s core challenge in the area of industrial development was not unconnected to human capacity development and technology. He thus asked the Nigerian Content Development Monitoring Board (NCDMB) to focus on investing in technology, human capacity and general development of local content rather than bothering about investment in refinery. Eromosele, noted that the lack of infrastructure and technology to develop local content in the country remained one of the most critical challenges undermining efforts aimed at boosting indigenous participation in

the oil and gas sector. He said, “The focus of the NCDMB is to build on human capacity development such that they will be able to prepare ahead of future projects and grow local content in Nigeria, identify areas of deficiencies and play a major role by ensuring that the gap is bridged. “This is what they should focus on instead of deviating from their primary responsibility. “As at today, Nigeria has only about 10 professionals with NDT level three. India has over 10, 000. Nigeria has about only 30 trained oil and gas-welding engineers, less than five welding specialists.” “Can Nigerians boast of designing and building the refineries? Laboratory should

be invested on. Training centres should be invested on. This will not only provide support for oil sector but also help manufacturing industry to grow. “As a country we need to invest in people who are able to take major roles in manufacturing to give maximum support to technology enhancement of oil and gas in Nigeria. We are investing about N98 billion into that,” he said. According to him: “With our eyes keen on quality, we execute all various tests required ranging from mechanical destructive test to Non Destructive test (NDT), civil test and chemical analysis . Our wide range of test with international standard can be

The African Export-Import Bank (Afreximbank) has declared a $57.53 million dividend for shareholders as it grew its revenues by 25 per cent to reach $645 million in its 2017 financial year. The $57.53 million represented a 51 per cent increase over the $37.96 million declared in the previous year. The President and Chairman, Board of Directors of Afreximbank, Dr. Benedict Oramah, who presented the 2017 financial report at the annual meetings in Abuja at the weekend, said its revenue grew by 25 per cent to reach $645 million, driven by healthy interest income on average assets of about $14 billion, of which about 70 per cent was loans and advances. According to Oramah, net income rose by 34 per cent to reach a new record of $220 million. He noted that the bank’s liquidity was very strong, with cash and due from banks reaching $3.2 billion, up 153 per cent from $1.3 billion in 2016, while liquidity cover ratio was 185 per cent, above the target of 105 per cent.

oil and gas projects executed in their countries, Nigeria has none, noting that this was unhealthy to her economy. “India has standard, China has and Germany has standard but Nigeria do not have a standard and that is the bone of contention. “Most projects have specifications but if we do not have standards, operators will be forced to come with their own standards because we do not have professionals. As long as this continues, the frustration would always be there. The operators come with the intention to repatriate their money back to their countries, so what Nigeria needs to do is to continue to support local content,” Eromosele added.

MEET OUR CHAIRMAN

L-R: Managing Director, VDT Communications Limited, Mr. Biodun Omoniyi; newly appointed Chairman, Board of Directors,, Mr. Tokunbo Talabi and Director, Tunji Gafaar, during the company’s 2018 AGM and Board Meeting held in Lagos...recently

Afreximbank Declares $57.53m Dividend Ndubuisi Francis in Abuja

readily obtained in Nigeria instead of going oversees to perform such tests.” He also said his company had been able to manage the issue of quality control in Nigeria, adding: “As a company leading in the aspect of quality control, we are investing in human capacity development.” “That is very important. The people need to be developed first. That is why we set up a wedding institute. We are not ending with that, to be able to capture the sector better, we are setting up a university. We are going to have an industry-based university that will support the oil and gas and manufacturing industry,” he stated. He said while other countries had standardised processes for

“Mindful that intra-African trade cannot flourish without a strong industrial base, we are pressing ahead with our effort to support the development of industrial parks and export processing zones across Africa,” stated the President. “Projects amounting to about $1.5 billion were already financed or underdevelopment in Cote d’Ivoire, Nigeria, Gabon, Togo, Chad and Burkina Faso. We are also supporting the investment promotion efforts of Egypt’s Suez Canal Economic Zone,” Oramah said. He announced that the bank had recently entered into partnerships or understandings with numerous third parties to support and finance economic and trade development and trade diversification across Africa. They include those with the African Guarantee Fund, Attijariwafa Bank, China Eximbank, the Export Development Bank of Egypt, the Export Credit Insurance Corporation of South Africa, the Finance Center for SouthSouth Cooperation, Kings College Hospital London, and Indonesia Eximbank. Others are the International Islamic Trade Finance Corporation, the Islamic Corpora-

tion for the Development of the Private Sector, the Made-in-Africa Initiative and the Russian Export Centre. In his keynote address at the closing ceremony, President Muhammadu Buhari pointed out that the bank, through its dynamism and tenacious leadership, had proved that Africans could come together to build something meaningful. Those attributes, Buhari said, had enabled the Bank to achieve the success which it had enjoyed since its establishment 25 years ago.. The annual meetings began on July 11 with keynote addresses, presentations and panel discussions on topical trade and trade finance issues, including the African Continental Free Trade Agreement (AfCTFA). Over 100 speakers, including heads of state, ministers, central bank governors, directors-general of international trade organisations, business leaders, African and global trade development experts, and academics, spoke during the four- days of the meetings. The meeting also saw the election of , Nigeria’s Minister of Finance, Kemi Adeosun as the new Chairperson of the General Meeting of Afreximbank Shareholders.

FG’s Auto Policy Revives 29 Licenced Assembly Plants Olawale Ajimotokan in Abuja Five years after it was relaunched, the National Automotive Policy has yielded positive outlook with some of the licenced assembly plants becoming operational and attracting foreign investors. A statement by the Strategy and Communications Adviser to Minister of Industry, Trade and Investment, Bisi Daniels, said the policy had resulted in 29 out of the 54 licensed assembly plants coming on stream as at February, 2018. He also disclosed that a total installed capacity of 419,190 units and a total actual production of 8,628 units had been achieved under the automotive policy. The Ministry of Industry and Trade said before the introduction of the policy, three out of the five assembly plants established in the 1970s had become moribund. It said the objective of the policy was to bring back Completely-Knocked-Down (CKD) automotive assembly and develop local content, thereby turning Nigeria into a vehicle manufacturing country. In addition, the policy is expected to create employment,

acquire technology and reduce the pressure on the country’s balance of payment. “The achievements made so far confirm the high potentials of the policy to grow the automotive sector,” Minister of Industry, Trade and Investment Dr. Okey Enelamah, said. Over 14 existing assembly plants including Peugeot Automobile Nigeria Limited (PAN), Innoson Vehicle Manufacturing Co. (IVM), Anambra Motor Manufacturing Company (ANAMMCO) and Leyland-Busan have started assembling new products since 2014. Also, Dangote Sinotruk West Africa LTD, a Joint Venture with total investment of $100 million for truck assembly plans to assemble and produce full range of commercial vehicles covering heavy duty truck, medium truck, light truck and semi-trailers, among others. It aims to meet an expected current demand of these segments of automobiles required for logistics, construction, food and beverage industries in Nigeria as the government focuses on boosting economic development across the country.

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BeyondtheBeat CHIKA AMANZE-NWACHUKU

Tel: 08033294157, 08057161321 Email: chika.amanzenwachukwu@thisdaylive.com

Delayed NLNG Train 7 Set to Get Underway

Baru After years of delay, shareholders of the Nigeria Liquefied Natural Gas (NLNG) - the Nigerian National Petroleum Corporation, Shell, Total and Eni, on Wednesday in London, signed the front-end engineering design contract for the much awaited NLNG Train- 7 project, an indication that the company was inching closer to realising its expansion goals of increasing LNG production from 22 Million Tonnes Per Annum (MTPA) to 30 MTPA. The contract was awarded to B7 JV Consortium and SCD JV Consortium. B7 JV Consortium comprises American company KBR Inc.,Technip of France and Japan Gas Corporation, (the joint venture partners that built the existing six trains) and SCD JV Consortium, made up of Saipem of Italy, Japan’s Chiyoda and Daewoo of South Korea. Under the fresh contract terms, the consortia will participate in the dual FEED process and produce a basic design engineering package that will determine their Engineering, Procurement and Construction (EPC) pricing, and eventually their bids to construct the train. The train-7 project has been in gestation for more than a decade. In 2007, the NLNG had awarded TSKJ consortium made up of Technip, Snamprogetti Netherlands, KBR and JGC Corporation, the contract for the preparation of project specifications and front-end engineering and design (FEED) for a two 8.5 million metric tons per annum NLNGSevenPlus Project. The contract included additional utilities, product storage and loading facilities. It was anticipated that the train-7 project, scheduled for completion in 2007, would become the largest LNG train in the world. But this ambitious target could not be achieved as the project was halted after the consortium was mired in bribe-for contract scandal. Jack Stanley, who led KBR as CEO between 1995 and 2004, had confessed that he paid $182 million in bribes to Nigerian government officials, to win contracts to build the NLNG’s liquefied natural gas facilities on Bonny Island, Nigeria worth more than $6 billion. Following his guilty plea, KBR and its onetime parent Halliburton had paid $579 million in 2009 to resolve criminal and civil FCPA charges brought by the U.S. Department of Justice under the Foreign Corrupt Practices Act. In 2010, Technip paid $338 million. And in 2011, JGC paid $218.8 million. The other partner, Snamprogetti, paid $365 million in 2010 to U.S. enforcement agencies for FCPA offenses. TSKJ consortium built the existing six trains between 1999 and 2007. The consortium was

Attah awarded the EPC contract for Trains 1 and 2 and the necessary site infrastructure in December 1995. The first two trains started up in August 1999 and February 2000 respectively. Train 3 with LPG recovery facilities was awarded to TSKJ in March 1999 and was completed in 2002, while Trains 4, 5 and 6, were completed in 2005, 2006 and 2007 respectively. Sources familiar with the deal explained over the weekend that a fresh FEED contract

Jack Stanley, who led KBR as CEO between 1995 and 2004, had confessed that he paid $182 million in bribes to Nigerian government ofﬁcials, to win contracts to build the NLNG’s liqueﬁed natural gas facilities on Bonny Island, Nigeria worth more than $6 billion. Following his guilty plea, KBR and its onetime parent Halliburton had paid $579 million in 2009 to resolve criminal and civil FCPA charges brought by the U.S. Department of Justice under the Foreign Corrupt Practices Act. In 2010, Technip paid $338 million. And in 2011, JGC paid $218.8 million. The other partner, Snamprogetti, paid $365 million in 2010 to U.S. enforcement agencies for FCPA offenses

for the seventh train became necessary given that more than 10 years had elapsed since the studies were carried out by TSKJ consortium and with technology advancement, the NLNG needed to carry out new studies and FEED to come up with the best results. At the signing ceremony, which witnessed the commemoration of repayment of $5.45 billion shareholders loan for the existing six trains, Managing Director and Chief Executive Officer of the NLNG Limited, Mr. Tony Attah revealed that the company was shopping for about $7billion from the global financial markets to expand its operations. Attah explained that the loans being sought would cover the cost of construction of Train-7 and investment in the upstream gas sector in Nigeria that will ensure the sustainability of feedgas supply to the existing six trains and the seventh train. On the Dual FEED strategy, Attah, explained: “Typically, FEED takes about 9-12 months but we have explored another strategy for this project by adopting the Dual FEED Process which awards this crucial part of the Train 7 project to two prospective engineering consortia, instead of one contractor. What this does for us is give us a degree of freedom to start FEED and sometime after, EPC bidding, with both activities overlapping” Attah, who restated the firm’s committed to taking the FID on the project in December this year, confirmed that the company had been making efforts to build the train-7 plant since 2007. “Let me establish that this is a very historical moment for us, rekindling what is Train-7. We have made efforts to do Train-7 since 2007, essentially, we’ve been at it for almost 10 years, but we believe that this is the moment. As one of my friends will say, the stars are lining up in favour of our company and this project,” said Attah. He further noted: “The history of the LNG industry in Nigeria is chequered. After about 30 years of trying to get an LNG project going, in 1989 NLNG was incorporated and one FID after the other, 6 trains were built in quick succession, making us the fastest growing LNG company in the world at the time. But we lost steam just after 2007, while the rest of the world went past us with the development of their gas resources and the gain of greater market share. We started our LNG industry 24 months after Qatar, but Qatargas has attained a production capacity of 77 MTPA with additional target of 30% LNG production in the immediate future. I believe it is time to reset the narrative. It is time for gas revolution in Nigeria. “So, 30 years after the incorporation of NLNG,

and 20 years after we exported our first LNG cargo, we are looking to the future and that future for us is Train 7. Activities are lining up for this project. With the continued support of the Federal Government of Nigeria and the Shareholders towards this future, the odds are clearly in our favour.” Also speaking at the signing ceremony, the NNPC GMD, Maikanti Baru expressed the corporation’s readiness to support the federal government’s aspirations to actualising the train 7 project. Baru said as a 49 per cent shareholder in the NLNG, the corporation had immensely contributed to the success of the company over the years, supporting equity participation and contribution to shareholders’ loan. “Through critical interface with relevant government agencies, we have played a pivotal role in the actualisation of Trains 1 to 6. Given the success of T1-T6, the NNPC is therefore fully committed and aligned with the government aspirations to replicate the success of this project. Therefore, our current focus is to kick-start T7,” Baru said. With the six trains in full operation, the entire complex currently produces 22 million tonnes per annum (mtpa) of liquified natural gas (LNG), and 5 mtpa of natural gas liquids (NGLs) from 3.5 billion (standard) cubic feet of natural gas intake. Expectedly, the coming on stream of the seventh train will lift the total production capacity of the plant to 30 metric tonnes per annum (mtpa) of LNG and also boost the company’s contribution to the economy of Nigeria. Attah disclosed last year that the company generated over $90 billion in revenue, and $15 billion to the federal government, and more than $6 billion in taxes since it became taxpaying in 2009. Given its contribution to the economy, an early completion of the project means more money for Nigeria. But the award of the train-7 contract to a consortium that was involved in the bribefor- contract scandal, has unsettled industry watchers, who posited that action ran foul of the present administration’s anti-graft campaign. NLNG is owned by four Shareholders, namely the Federal Government of Nigeria, represented by NNPC (49%), Shell Gas B.V. (25.6%), Total Gaz Electricite Holdings France (15%) and Eni International N.A. N. V. S.àr. l (10.4%). They noted that many of the decisions about the project will be taken in the next few months. ... If the project survives the political hurdles, the chances for its eventual take-off are therefore guaranteed.

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BUSINESSWORLD

ENERGY

Ewanehi: Local Content is about Competence, Not Patronage The Managing Director and Group Chief Executive Officer of Solewant Group, Mr. Solomon Ewanehi spoke to journalists on the impact of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act of 2010 on local companies. Ejiofor Alike presents the excerpts: In what ways have federal government’s policies helped in the growth of your business? As a member of Petroleum Association of Nigeria (PETAN), Solewant is grateful to the federal government in a number of policies and these policies have helped in the growth of our company. Let me take us back a little; the Nigerian line pipes manufacturing and milling market is evolving at the back of the need for the provision of constant supplies to the oil and gas industry. For several years, the large supply/service companies have opted to procure these line pipes from mills around Europe and Asia without the thoughts of establishing factories or manufacturing plants and research and development (R&D) centres locally such that the bulk of the billions of dollars expended in the industry yearly rarely manifests in our economy. In order to reverse this trend and build local capacity, the federal government passed into law the Nigerian Oil and Gas Industry Content Development (NOGICD) Act of 2010, which was aimed at ensuring increase in the amount and value of local content input in the oil and gas value chain. The objective of this was to build capacity and retain a good portion of the annual oil and gas spend in-country by enhancing and promoting the development of local content in Nigeria’s oil and gas industry. The ultimate goal is to have companies in Nigeria, which possess capabilities that are highly valued and demanded by oil and gas companies operating on the world scene. Since the passage of the law and the establishment of the Nigerian Content Development and Monitoring Board (NCDMB), there has been a significant increase in the volume and value of local company’s participation in the oil and gas industry projects and contracts. But with still very few (in fact too few) pipe milling companies in the country, Solewant Nigeria Limited after commissioning of the multilayer pipe coating plant, pipe coating laboratory and CWC plant, we are now investing in longitudinal-submerged arc-welded (LSAW) pipe milling plant, also situated in our industrial area, Eleme-Onne, Rivers States, the hub of the oil and gas activities in Nigeria. In speciﬁc terms, how has the NOGICD Act assisted local companies, particularly your business? As a result of the activities of our association- the Petroleum Technology Association of Nigeria (PETAN), as well as other indigenous bodies, the federal government gave approval to the NOGICD Act of 2010, which is also known as the Nigerian Content Act. In PETAN, we talk about competence, technology know-how and not patronage. If you look at Solewant Group’s past track records, you will see that we have executed and delivered world class pipes/pipe coating projects for MObil, Chevron, NGPTC, Oando, Addax, Total and to mention but a few. And as an indigenous business organisation, the policy

The ultimate goal is to have companies in Nigeria, which possess capabilities that are highly valued and demanded by oil and gas companies operating on the world scene. in Nigeria and pipelines are the safest way to deliver these products from source to point of need. Quite frankly, we rely on oil and gas products to meet most of our daily energy needs along the oil and gas value chains. So, our pipe production and pipeline protection solutions that we offer for oil and gas onshore and offshore project execution assists in, increase-in country capacity in line with the objectives of NCDMB,enables project owners to save time and minimise costs due to quick turnaround and delivery time, employment generation and foreign exchange conservation.

Ewanechi has helped us in a number of international partnerships, collaborations, increased local and international raw material sourcing, increased projects opportunities and also increased local technological development. And beyond these benefits, we expect to see sustained improvements in local content over the coming years. Could you please tell us more about Solewant’s steel pipe manufacturing and pipe coating plants? Let me start by telling you what we do as an organisation. Solewant was established 18 years ago and we provide steel pipes and pipe coating services to oil and gas industries. Our business is built on expert knowledge, outstanding client service and the highest quality work for each client that we serve. We started with the acquisition of mobile coating plants and have since expanded our scope of services and competencies to include the following: pipe coating services; anti-corrosion pipe coating services, 3LPP to 5LPP coating solutions and CWC Pipe Coating Services.In order to further build capacity and take opportunity of the existing gap in the Nigeria line pipes milling and production

industry, Solewant Group, in 2013 acquired 139,000square metres of land for the purpose of building a world class pipe coating and pipe milling/production plantfacilities in Nigeria. Our strategic plan is to provide end to end pipeline (manufacturing, coating and protection) construction services to the oil, gas, manufacturing, chemical and other industries in Nigeria. How are these pipe coating and pipe milling plants relevant to the Nigeria’s oil and gas industry? Steel pipe is an integral part of each process stage in the oil and gas industry, from drilling and completion of exploration and production wells, to transportation to refineries, as well as in distribution networks carrying hydrocarbon fluids and natural gas. So, we provide and protect these pipes used for transportationof these fluid. The anti-corrosion coating and mechanical protection of pipelines are very crucial to asset value addition for oil and gas facilities. What impact has your products made in the sector? We use oil and gas products every day

In what ways are your products better than other pipes in the sector? We all know that successful oil and gas product management depends on identifying the need and wants of the international oil companies (IOCs) and other project owners. Presently, some upcoming onshore and deep offshore projects require high tech products and services because of the nature of the terrain where these pipeline facilities are being installed. So, we offer very reliable and efficient solutions in a way that is ‘better’ than competitive offering. Solewant Group is strategically positioned to provide oil and gas companies the unique pipes and pipe coating solutions that help our clients deliver quality projects on schedule and within budgets. For instance, apart from our state-of-theart pipe coating laboratory located at our industrial area, our multilayer pipe coating plant is designed and produced to provide pipe double joint coating solution for deep offshore, First class EU-manufactured plant equipment. You will agree with me that we have suffered from inadequate local capacity in theA oil and gas industry, particularly in the areas of in-country value addition to and production of oil and gas tubular goods. To address this gap, the Nigerian Content and Monitoring Board (NCMDB) was set up to drive local content and provide direct impetus to the existing oil and gas laws and regulations that support local content development. Our industrial area also provides a strong African presence, as Nigeria is at the fore front of the West African development where major oil and gas facilities are being installed.

Osibanjo, Wabote, Others Woo US Investors Ejiofor Alike The Vice President, Prof. Yemi Osinbajo; the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Mr. Simbi Kesiye Wabote and other top federal government officials were at the Silicon Valley, California, United States, recently, to canvass for foreign direct investment (FDI) into Nigeria. They met with over 25 key

international players in the Information Communication Technology(ICT) industry. According to a statement by the NCDMB, the main objective of the visit was to promote the ample investment opportunities in the country’s key sectors like ICT, oil and gas, power, agriculture, and solid minerals. The delegation also highlighted Nigeria’s market size, entrepreneurial spirit, vibrant young demography, fiscal incentives for pioneer

investments. Wabote was invited on the trip to expatiate on the NCDMB’s strategies to deepen collaborations and sectorial linkages between the oil and gas industry and the ICT sector. He used the opportunity to discuss with top fund managers, sister agencies and the founders of the start-up companies on the Board’s focus areas in Research and Development (R&D) and support for companies domiciled

in Nigeria. The Board has developed a pathway for developing research and development capabilities in the Nigerian oil and gas industry and is partnering with various local and international stakeholders on the initiatives it is pursuing in this regard. About Nigerian 11 start-up companies in innovation and technology had the opportunity to make presentations to the foreign investors on their business models and the support

they require. The presentations covered the application of technology and innovation to address challenges in logistics, procurement, healthcare, financial services and insurance. On his part, Osinbajo thanked the investors for honouring the invitation and the Nigerian delegation for the efforts put into planning the event to make it a resounding success. The delegation also visited the offices of Google

and Linkedin in the Silicon Valley. Other key officials in the Nigerian delegation included the Minister of Industry, Trade and Investment and the heads of Bank of Industry (BOI), Nigerian Investment Promotion Commission (NIPC), Nigerian Export Promotion Council (NEPC), Nigerian Film Corporation (NFC), and Nigerian Information Technology Development Agency (NITDA).

T H I S D AY ˾ TUESDAY JULY 17, 2018

25 RC 611238

TRANSNATIONAL CORPORATION OF NIGERIA PLC

STATEMENT TO THE NIGERIAN STOCK EXCHANGE AND SHAREHOLDERS ON THE 81AUDITED RESULTS FOR THE 3(5,2' ENDED 30 JUNE 2018 STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2018 30 June 2018 N'000 Assets Non-current assets Property, plant and equipment Intangible assets Investment property Investment in subsidiaries Debt and equity securities Deferred tax Prepaid lease rental

Current assets Inventories Trade and other receivables Prepaid lease rental Cash and cash equivalents Total assets Liabilities Current liabilities Trade and other payables Current income tax liabilities Borrowings (short term) Advance deposits

Non-current liabilities Borrowings (long term) Deposit for shares Deferred taxation liabilities Total liabilities Equity 2UGLQDU\ Vhare FDSLWDO 6KDUH 3UHPLXP 2Wher reserves Retained earnings

31 December 2017 N'000 Group

30 June 2018 N'000

31 December 2017 N'000

Company

146,002,544 39,503,829 1,706,600 5,067,776 3,348,918 24,751 195,654,418

141,835,592 39,517,340 1,706,600 4,971,353 3,348,918 53,010 191,432,813

22,470 5,075,818 1,706,600 27,529,887 5,067,776 39,402,551

18,338 5,075,818 1,706,600 27,529,887 4,971,353 39,301,996

4,755,212 84,851,608 30,000 4,970,917 94,607,737 290,262,155

4,646,609 83,827,859 16,741 5,598,282 94,089,491 285,522,304

23,489,763 1,127,234 24,616,997 64,019,548

23,460,800 339,974 23,800,774 63,102,770

70,460,468 1,704,831 30,930,940 1,875,000 104,971,239

64,846,974 1,424,147 36,509,388 1,875,000 104,655,509

2,223,565 40,578 9,989,952 1,875,000 14,129,095

3,702,299 225,015 10,223,020 1,875,000 16,025,334

69,855,273 2,410,000 7,159,053 79,424,326 184,395,565

75,589,945 2,410,000 7,159,053 85,158,998 189,814,507

13,027,090 13,027,090 27,156,185

11,470,290 11,470,290 27,495,624

20,323,996 6,249,871 2,874,204 35,865,368

20,323,996 6,249,871 2,777,781 31,961,979

20,323,996 6,249,871 2,985,884 7,303,612

20,323,996 6,249,871 2,889,461 6,143,818

65,313,439 40,553,151 105,866,590 290,262,155

61,313,627 34,394,170 95,707,797 285,522,304

36,863,363 36,863,363 64,019,548

35,607,146 35,607,146 63,102,770

Equity attributable to: Owners of the parent Non controlling interest Total equity Net equity and liabilities

STATEMENT OF COMPREHENSIVE INCOME FOR THE SIX MONTHS ENDED 30 JUNE 2018 30 June 2017 N'000

30 June 2018 N'000 Group

30 June 2017 N'000

30 June 2018 N'000 Company

54,089,467 (29,516,842) 24,572,625 (7,617,158) 404,569 (13,314) 17,346,722

34,173,862 (19,300,002) 14,873,860 (5,663,593) 305,965 4,660 9,520,892

4,278,067 4,278,067 (1,353,784) 642,316 3,566,599

2,055,462 2,055,462 (827,465) 595,548 1,823,545

Finance income Finance cost Foreign exchange loss on financing activities Net finance cost

472,587 (5,013,447) (861,792) (5,402,652)

434,643 (4,701,472) (721,707) (4,988,536)

425,604 (1,591,642) (1,166,038)

719,268 (1,538,575) (819,307)

Profit before taxation Taxation

11,944,070 (1,068,740)

4,532,356 (368,526)

2,400,561 (427,807)

1,004,238 (205,546)

10,875,330

4,163,830

1,972,754

798,692

4,716,349 6,158,981 10,875,330

1,573,541 2,590,289 4,163,830

1,972,754 1,972,754

798,692 798,692

96,423

2,055,777

96,423

2,055,777

10,971,753 4,812,772 6,158,981

6,219,607 3,629,318 2,590,289

2,069,177 2,069,177 -

2,854,469 2,854,469 -

11.60 11.60

3.87 3.87

4.85 4.85

1.96 1.96

Revenue Cost of sales Gross profit Administrative expenses Other income Other gains - Net Operating profit

Profit for the period Profit attributable to: Owners of the parent Non controlling interest Other comprehensive income Changes in the fair value of available for sale Equity securities Total Comprehensive income for the period Attributable to: Owners of the parent Non controlling interest Basic Earnings Per Share (kobo) Diluted Earnings Per Share (kobo)

The Board of Directors is confident that, barring unforeseen circumstances, this trend would be improved upon considerably in the remaining period of the financial year. Dated this 12 June 2018 By Order of the Board

………………………………… Helen Iwuchukwu Company Secretary FRC/2015/NBA/00000012716 www.transcorpnigeria.com

T H I S D AY ˾ ˜ ͯ͵˜ ͰͮͯͶ

BUSINESSWORLD

INTERVIEW

Langat: There are Huge Infrastructure Challenges in Nigeria Managing Director of Coleman Cables, Mr. George Onafowokan, spoke with select journalists on the firm’s inroads in the manufacture of cables. Jonathan Eze brings the excerpts What is your overview of Nigeria’s dairy sector? The dairy sector continues to feel the impact of a slowly recovering economy like other fastmoving consumer goods (FMCG) sectors. This has given rise to change in shopper behaviour with smaller portion packs being bought with an increased frequency in proximity shops. Availability and affordability therefore, remain major determining factors, given low disposable income among the population. Having said this, affordability must be matched with quality to ensure adequate nutrition. This is the balance FrieslandCampina WAMCO offers consumers. With increasing figures of malnutrition across the country, we consistently ensure consumers have access to quality dairy nutrition in various portion packs to reach everyone at the right price. It is important for the consumer to be educated on different dairy product offering and align to their nutritional needs. Dairy is offered in full cream, filled, ready to drink, among others. We have a mission to nourish Nigerians with quality dairy nutrition, hence our commitment to providing affordable dairy for families, and offering informed knowledge on the goodness of milk to consumers across all life stages. We believe in Nigeria and we are here to stay. What level of success would you say your Dairy Development Programme (DDP) has achieved and do you have plans to replicate this success in other states across Nigeria? We have made very good progress with the DDP. We started with a milk collection centre in 2011, now we have five milk collection centres and a bulking centre, which is where we pool all the milk into a truck and move it to the factory. The main challenge is low productivity per cow. When cows roam for long distance to gather pasture and drink water, it impacts productivity, which currently stands at one litre per cow average. To raise that to commercial quantities, we should be aiming for say ten litres per cow. Iseyin in Oyo state, where we currently operate the DDP with growing success, is not too far from our factory in Lagos, so we move milk daily. Other challenges include feed, poor infrastructure, among others. Secondly, there is a good concentration of farmers that have lived there for many years who have traditional knowledge of herding. There is still a lot of work to be done. To scale up milk volume per cow, you need the right kind of breeds. We must acknowledge that other states have approached us to bring the DDP to them. Could you be more speciﬁc? We were humbled by the visit of the Governor of Kebbi State to seek support for

The dairy sector continues to feel the impact of a slowly recovering economy like other fastmoving consumer goods (FMCG) sectors. This has given rise to change in shopper behaviour with smaller portion packs being bought with an increased frequency in proximity shops

Langat his efforts in improving dairy in his state. We have sent our people to give technical support to the state. It is very difficult to move fresh milk from Kebbi to Lagos by road in time for processing. However, whenever sustainable fresh milk volumes are substantial enough in a location, FrieslandCampina WAMCO will be more than ready to start processing there.

providing good roads, water and power. You can’t do anything with cows without a good supply of clean water. So far, we have sunk 45 solar-powered boreholes, which provide water not only for the cows but also for all the five communities where we are already succeeding with the DDP – Fashola, Maya, Saki, Iseyin and Alaga.

Are you satisﬁed with the level of support you and other big dairy companies in Nigeria are getting from government on the DDP? FrieslandCampina WAMCO is the only multinational involved in dairy development in Nigeria and we do this in partnership with the Federal government. We have had the Minister for Agriculture and Rural Development, Chief Audu Ogbeh, honour our invitations and sometimes set out with our team as early as 6 o’clock in the morning from Ibadan to Fashola Community in Oyo because he wanted to see farmers milking their cows. That tells you there is a huge support and commitment from the Federal government. For similar reasons, we commend also Oyo State Government. Government would also do well to improve infrastructure, especially by

Why do you think other big players in the dairy sector are yet to follow your example? It is very simple. This is a costly exercise that need financial and other resources investment and takes time to make money from it. We do it as a responsibility in line with our purpose of providing better nutrition now and for generations to come. FrieslandCampina WAMCO is here for the long run. We are committed to our mission of providing quality dairy nutrition for Nigerians and improving the living standards for our farmers now and for generations to come. Our shareholders have invested in the DDP because we are looking at the bigger picture and there is a point where the two cross, that become both sustainable and profitable. We are continuously investing in the DDP and we believe in the future of the programme.

Firm, USNC Unveil Fund for Entrepreneurs, Start-ups In a bid to boost the capacity of Africa’s entrepreneurs, Ventures Platform in partnership with the United States-Nigeria Council (USNC) have set-aside a fund aimed at supporting Nigerian entrepreneurs. Particularly, the Ventures Platform - USNC corporate leaders fund will target post minimum viable products (MVP) companies, investing up to $250,000 initially, with the potential to increase it. Also, it will give Nigeria’s established organisations the opportunity to participate in

the next wave of companies that will define the country’s future. The announcement was made on the sidelines of a recent investment and technology summit held at Silicon Valley in the United States (US) to promote Nigeria’s growing tech ecosystem. The Nigerian delegation to the summit was led by Vice President, Prof. Yemi Osinbajo, during which the agreement was signed in the U.S. Speaking about the partnership, the Founding Partner of Ventures Platform, Kola Aina

said, “We are really excited about the opportunity to get Nigerian corporations and corporate leaders involved in supporting the inevitable future, and we’re pleased to have such an important organisation as the US-Nigeria Council join us to make this journey possible.” With the participation of select corporate partners, leaders and executives of major Nigerian organisations and members of the US-Nigeria Council, Aina said that the funds were aimed to supporting them with smart capital to power growth.

So, what will work best for Nigeria and do we have similar examples elsewhere? Smallholder farms have been the most successful dairy model so far and that is the model for FrieslandCampina WAMCO DDP. Every household that has some land can build a business on it with five to 10 cross breed cows. It makes it easier for us to collect milk. If you go to countries like Kenya, Zimbabwe, South Africa and Uganda, smallholder farmers are thriving. So, in Oyo, our DDP is progressing from pastoralists to smallholder farms. With cross breed cows, you can get up to 10 to 15 litres of milk per cow instead of just one or two litres. How exactly have you handled technology transfer as part of your ongoing DDP? We have a programme called Farmer2Farmer, where farmers from The Netherlands visit Nigeria, spend time with farmers in Oyo State, interact with them to share global best practices with our local farmers. We organised Nigeria’s first ever Dairy Farmer’s Day late last year. Leading to the event, two Dutch farmers spent about two weeks in the DDP communities, training local farmers on best dairy farming practices. This has yielded a lot of benefits and will be continued. Farmer2Farmer language is well understood irrespective of where they are in the world. They got very practical, demonstrated what nutritious pasture is and what it isn’t, what is hygienic for cows and what isn’t. Some of our smallholder farmers now have farms bearing similarities to what you will see in a commercial farms in The Netherlands with improved hygiene and proper keeping of farm records.

SON Sensitises Farmers on Adulterated Pesticides The Standards Organisation of Nigeria (SON) has carried out a sensitisation exercise for Nigerian farmers, on the dangers of using adulterated pesticides on their farms. The agency described pesticide as a major agro-chemical product that can be used to boost food production apart from fertilizer, thereby calling on farmers to always insist on using quality pesticides while also adhering to global best practices. The Director General, Standards Organisation of Nigeria (SON), Mr. Osita

Aboloma, stated this at a oneday sensitisation workshop organised for farmers and agro-chemical dealers in Kano. At the event tagged, ‘The Dangers of using Sub-standard, Adulterated Pesticides,’ he noted that the move by the agency was to help eradicate the level of neglect of Nigeria’s farm produce at the international market. ‘‘The reason why most of our farm produce are rejected at the global market scene is due to the high level of residue on our farm products

making them unsafe for consumption’’. ‘‘This is why we are sensitising our farmers on the need to always produce to meet global best practices while also driving the non-oil export sector,’’ he said. According to him, the federal government had directed SON, other regulatory agencies and departments of agriculture in the country to strengthen the regulatory approach on the manufacture, sales and distribution of unwholesome pesticides in the market.

T H I S D AY Ë¾ TUESDAY JULY 17, 2018

T H I S D AY • TUESDAY, JULY 17, 2018

PROPERTY & ENVIRONMENT Shopping Begins at $54m Mixed-use Novare Central in Abuja Novare Central, a mixed-use shopping and office facility in Abuja will be open to shoppers and corporate tenants this month. The new addition is designed to meet the demand for modern commercial infrastructure in the fastgrowing Wuse area of Nigeria’s capital city. Bennett Oghifo reports

ovare Real Estate Africa, a leading commercial property portfolio with significant property investment across Africa, is set to open its newest addition, ‘Novare Central’, a $54 million mixed-use centre on July 19, 2018. The company’s projects in Abuja include the Novare Apo Mall, and Novare Gateway Mall, and in Lagos it built Novare Lekki Mall, the largest mall in Lagos. These projects combined have attracted more than half a billion dollars in foreign direct investment to Nigeria, said the Chairman of the Board, Professor Fabian Ajogwu, SAN, at a briefing in Lagos, recently. Novare Central, Abuja offers a retail combination of shops, restaurants and entertainment centres, as well as first-rate office

spaces in the vibrant Wuse area of Abuja. An exclusive Ribbon Cutting ceremony, scheduled to hold on July 18, 2018, (the attendance of which is strictly by invitation), will herald the opening of Novare Central. The Novare Central consisting of 7 178m2 of retail space on the ground floor with A-grade offices occupying three floors is strategically located within the central business district of Abuja, an area which continues to witness rapid development in the Federal Capital Territory, and home to various government departments such as the Foreign Affairs Ministry, the Wuse General Hospital and the Nigerian Customs Services. The modern architectural dexterity and excellent location of Novare Central has attracted the attention of major retail brands, including Africa’s largest food retailer,

R-L: Director, Novare Real Estate Africa, Mr. Peter Bamkole; Chairman of the company, Professor Fabian Ajogwu, SAN; and Company Secretary (KP Nominees Ltd), Kelvin Erhonsele, at the press conference on the opening of Novare Central Mall and Oﬃces in Abuja… recently

‘Shoprite’. Other stores in the centre include PEP, Office Everything, Active Leisure, Timekeepers, Kilimanjaro and Miniso with a growing number of established retail brands and big corporates expressing

their interest to take up space at the centre. The success of the Novare Central is largely attributed to the dynamic board of the Company led by Professor Fabian Ajogwu, SAN. The

innovative leadership of the Group Chief Executive Officer, Novare Equity Partners, Mr. Derrick Roper and the excellent execution of the in-country management team has resulted in the successful completion

of this world class centre built to the highest international standards within record time and budget. Mr. Derrick Roper whilst applauding the in-country management team of Novare Real Estate Africa also noted that the Novare Central development has enjoyed great support from the Abuja municipality, which views the project as a significant contributor to the advancement of the city landscape and economic development. Novare Central compliments other commercial developments executed by Novare Real Estate Africa which include the Novare Gateway Mall in Abuja, developed at a cost of US$68 million with a second phase that will in future see another 10 000 square metres added to accommodate 33 more line shops.

Propertymart Ends Special Price Offer for Fairmont Housing Scheme A special promotion offer for early subscribers to Propertymart’s Fairmont Lekki housing scheme came to a close last Friday, according to officials of the company. Managing Director, Deji Fasuwon said the special price offer ought to have ended prior to that date but for the massive turnout of interested buyers, coupled with the company’s desire to give more people opportunity to grab a piece of Fairmont on the Lekki corridor. Fasuwon said the promise of providing ideal housing in order to cut the country’s

housing deficit was a factor in extending the promo by more weeks in keeping with the need to allow more people to participate in the unique offer. It should be recalled that the property company in a surprise move according to property market players and observers, decided to sell the Fairmont Lekki land at one of the most affordable prices when compared to other property firms playing in the area. Aside the one-off payment of N12.8 million for those willing to purchase at a go, customers can also pay the

LG Exhibits Commercial AC Unit at West Africa HVAC Expo Fadekemi Ajakaiye One of the nation’s leading brands, LG Electronics has presented its latest product, Multi V 5 Air Conditioning system, to lovers of solutionproviding technology. The Multi V5 Air Conditioning system is the 5th generation of Multi V designed to endure any environment. The event, which served as a unique platform for leading brands in the technological industry to showcase their latest technology, took place at the just concluded West Africa HVAC Expo, in Lagos, recently. The 2018 edition of the expo offered an unrivalled opportunity for companies to further make public statements in terms of their positioning in the industry and the new offering they will be bringing

to the table. LG Electronics offered an array of products which included, Multi V 5 Air Conditioning system, Smart Inverter, Floor Standing and All New Gencool AC.It is designed from the ground-up to offer durability with conventional models that operate a 3-sided heat exchanger alongside an impressive 4-sided heat exchanger. The LG’s Multi V 5 has an Ocean Black fin heat exchanger that is a leading example of the new technologies which have been devised to tackle environmental problems. Multi V 5 is designed for enhance corrosion resistance and long-lasting performance, LG’s exclusive “Ocean Black Fin” heat exchanger brings durability and long-lasting performance even in environments that are packed with corrosive elements.

same price under a 5-year or 60 months duration with an initial payment of N640,000 and a staggered arrangement which allows subsequent payments to be broken down to make it affordable for the discerning Nigerian who

desires to live around the Lekki corridor and be close to Victoria Island and Ikoyi business districts. He said though the discounted offer window will be closed, the land will continue to be sold at its normal market

price of 16.8 million naira. When asked why the company is currently focused on land sale in a proposed gated estate with world class infrastructure as opposed to finished housing, Fasuwon said focusing on land sale with

staggered payment option, offers easy access to credible real estate investments for the young and upwardly mobile Nigerians, while availing opportunity to scale their building projects to their taste and cost appetite.

Firm Floats N5bn Apartment in Honour of Former Finance Minister

NCF Appeals to Government to Protect Nigeria’s Coastline from Atlantic Ocean

Eromosele Abiodun

Fadekemi Ajakaiye

A real estate development company, Brookstone Property Limited, has concluded arrangements to build a N5 billion residential apartment in memory of Nigeria’s former Finance Minister, late Chief Festus Okotie-Ebo. Speaking at the ground breaking ceremony in Lagos, Managing Partner, Brookstone Property, Joseph Orji said the idea stemmed from a desire to build something spectacular in honour of the late minister. He said the company plans to complete the project named, Okotie-Eboh Overlook Condominium, in record time. According to him, “The second reason is the fact that the site is a unique opportunity; the site is between Ikoyi golf course to the north and the Lagos Polo Club to the south that is why it is called the Overlook. As we designed the project, we wanted the building, effectively the units, to have maximum views of both the golf course and the polo club. “That was one of our key reasons, because it is different

from other residential buildings in Lagos, and it is a very good reason to invest in our property. When you want to buy a house you look at different things, are you looking at concrete or something that has unique views? It is up to you.” He added, “Before we started this project, we sat down and said what is lacking in the market; we looked at supply and demand analysis. Yes there are residential apartments in Lagos but most of them have the British and European feel, but Nigerians are all over the world. We felt an American apartment is not well represented in the Nigerian market that was why we developed the condominium concept in Nigeria. “The condominiums have an American feel; what I mean buy that is, for instance, you see a rooftop terrace. Very few residential buildings have that. We felt that making out a leisure space will actually bring value to the tenants. Also, we have optional open floors, what that does for you is that it makes your space look bigger and make your living room flow to the kitchen.

The lives and livelihood of families in communities along the coastline of the Atlantic Ocean in Lagos, just like other seaside communities in the country, are threatened as the sea pounds the shore daily. Thus, the Nigerian Conservation Foundation (NCF), last week appealed to the federal government to provide engineering solution to protect the Lagos coastline. Speaking at a media briefing in Victoria Island, Director General of NCF, Dr Muhtari Aminu-Kano appealed to the Federal and Lagos State Governments to protect the nation’s shoreline as far as to Escravos in Delta State to avert disaster. “The immediate solution is for Lagos to take the groins construction all the way to Escravos. We are appealing to the managers of the ecological funds to look in the area of these shorelines in Lagos,” he said. Chairman of NCF, Chief Ede Dafinone stated that several coastal communities had been washed away and

that if nothing was done, the Victoria Island-Lekki axis would be underwater by 2030 and the whole of Lagos by 2050. According to him, the problem of coastline erosion started during the colonial era when groins were created to protect the wharf at nearby Apapa. He said the impact caused a backlash on the Lekki axis, causing a surge at the Bar Beach, but that the Eko Atlantic City Project later protected the Bar Beach, but has pushed the problem further to other areas along the coastline. He said the Lagos State Government began the construction of groins around the Eko Atlantic City and Bar Beach towards Elegushi Beach to solve the problem. He explained that the government constructed over 15 groins that effectively protected and replenished the coast for up to 14 kilometres. “It costs about N1 billion to construct one groin and Lagos States Government’s inability to continue the project in the last 18 months suggested that they were overwhelmed by the problem,” he said.

T H I S D AY • TUESDAY, JULY 17, 2018

PROPERTY & ENVIRONMENT

AfDB Joins Global Infrastructure Facility as Technical Partner Bennett Oghifo Africa’s infrastructure financing needs are huge. Innovative partnerships are needed to bridge the financing gap and accelerate infrastructure development in Transport, ICT, Water and Energy that are considered as drivers for growth, regional integration and industrialisation. It is in this optic that the African Development Bank Group signed a Financial Procedures Agreement with the World Bank Group (the GIF Trustee) on 18th of April 2018 as Technical Partner of the Global Infrastructure Facility (GIF). Launched in 2015, the Global Infrastructure Facility is a partnership platform among governments, multilateral development banks, private sector investors, and financiers designed to support emerging markets to develop infrastructure

economy by providing a new way to collaborate on preparing, structuring, and implementing complex projects that no single institution could handle on its own.GIF also supports governments in bringing well-structured and bankable infrastructure projects to markets. GIF Technical partners are entities who have signed the FPA with the GIF Trustee in order to lead or participate in implementing GIF Activities. Current GIF technical Partners include: Asian Infrastructure Investment Bank; Asian Development Bank; European Bank for Reconstruction and Development; European Investment Bank; InterAmerican Development Bank; the World Bank Group and now the African Development Bank. The GIF team will visit the Bank in Côte d’Ivoire from 20th to 22nd June 2018, for a kickoff meeting. The objectives

of this meeting is to present GIF’s instruments overview, eligibility criteria, application, approval and implementation process as well as co-financing opportunities. One important area for collaborating with GIF is to provide the African Continent with more leveraging opportunities to

scale-up capacity for project preparation and help increase the number of well-structured and bankable projects. As GIF Technical Partner, the African Development Bank will be able to mobilize resources that will enable it to deliver on its High 5 priorities, especially in Energy, Agriculture (Water) and regional integration

(Transport and ICT). The Bank’s GIF Technical Partnership will be implemented by the Infrastructure and Partnerships Division under the Private Sector, Infrastructure and Industrialization Complex. The Division already hosts international Infrastructure Partnerships initiatives such as

NEPAD-Infrastructure Project Preparation Facility (NEPADIPPF), the Infrastructure Consortium for Africa (ICA) and the Project Preparation Facility Network (PPFN). It also ensures overall coordination and synergies with key Africa infrastructure stakeholders in both public and private sectors.

FCTA Extends Period for Payment of Arrears of Ground Rents From Olawale Ajimotokan in Abuja The FCT Administration has approved the extension of the period for payment of arrears of ground rents and sundry bills to August 9 for the benefit of property owners in the Federal Capital Territory that have not cleared them. The FCT Director of the Abuja Geographic Information Systems (AGIS), Dr. Isa Ibrahim Jalo, who dropped this hint while inspecting some facilities of the AGIS Customer Service, remarked that it was sequel to the expiration of the dateline given earlier. He appealed to all plot allottees, property owners, as well as beneficiaries of the sale of federal government houses in Abuja to take advantage of the window provided by the Administration.

He reiterated that the settlement of these outstanding ground rents and sundry bills by the new date would save the affected persons the embarrassment that may come out of their inaction. He emphasised that all concerned allottees and beneficiaries who failed to clear their bills within the newly announced window would have themselves to blame. “Failure to clear these outstanding ground rents and sundry bills will attract necessary penalties for default, which may include the revocation of such titles as stipulated in the extant laws.” He also advised that every property owner should be responsive, as government needed these payments to provide infrastructure, social amenities and other services to the citizenry.

With 50% off Products, Leatherworld Gives Back to Customers Leatherworld, one of Nigeria’s foremost furniture companies, has said the motive behind its current annual sale in Abuja is to give back to its customers. The company has embarked on an annual sale of its arrays of furniture products for its high networth customers from July 9 to August 9, 2018 in the federal capital territory, taking off 50 per cent from prices of office and home furniture items. According to the management, the company, which stocks bespoke furniture products manufactured at his factories located in Nigeria, during this sale, is selling its inventory and not leftovers as it is customary of most outlets. In fact, the company believed the sale would afford customers the opportunity to pick up more of

its highly luxurious furniture products at half their prices. “During our discounted sale, our customers get the best quality of furniture items in the industry as they would during normal sale. Our products rank pari passu with those manufactured in Italy and Spain.” The company, which recently concluded its annual sale in Lagos, enthused that, over the years, its sales had been widely successful, believing this year’s edition won’t be different. On why it is taking the sale to Abuja, the management noted that the last two sales were in Lagos and it would be fair to allow its Abuja customers enjoy the same privilege this time.

Gambian Hon. Minister for Transport, Works and Infrastructure Hon. Bai Lamin Jobe, (5th right) ﬂanked on his left by the President of Association of African Quantity Surveyors (AAQS) David Gaito (4th Right); the Secretary General of AAQS, Kola Adeyemo (5th Left); President of Nigerian Institute of Quantity Surveyors (4th left) and other members at the AAQS executive meeting in Banjul, Gambia… recently

Lagos Seals Buildings for Dirty Environment as Cleaning of Apapa Begins The Lagos State Government has sealed some buildings, located on Egbaiyelo Street, around the Tin Can-Coconut axis of Apapa-Oshodi Expressway, for unsanitary practices, ranging from open defecation, dirty environment and illegal dumping of refuse among others. Giving the sealing order during the commencement of cleaning intervention of the Apapa area of Lagos State at the weekend was the Commissioner for the Environment, Mr. Babatunde Durosinmi-Etti, who emphasised that the Zero Tolerance for Environmental Nuisance Policy of the State

Government was still very much in force. He warned residents who were in the habit of abusing the environment through different forms of infractions such as keeping unwieldy environment, littered with all kinds of articles, converting open spaces to dump sites, erecting illegal stall extensions and engaging in street trading etc. to desist from these bad environmental behaviour or face serious sanctions from government. Durosinmi-Etti said that the government had the duty to promote the welfare of all residents by safeguarding the

What Private Companies Desire in Performance-based Non-revenue Water Project Recent estimates place global annual non-revenue water (NRW), i.e. water produced but not billed because of commercial or physical losses, at 126 billion cubic meters. This translates to nearly $40 billion in annual losses on waste and foregone revenues—a sum, that even if a fraction could be recovered, would underpin a compelling market opportunity for private service companies and a boost to public water utilities’ sustainability. A new joint initiative is aiming to drive declines in NRW faster, cheaper, and more sustainably by assisting water

utilities to engage private companies in performancebased contracts (PBCs). The World Bank’s Public-Private Infrastructure Advisory Facility (PPIAF) and the Bank’s Water Global Practice, in partnership with the International Water Association, analyzed 43 projects and determined that NRW initiatives supported by PBCs are 68 percent more effective compared to those undertaken by utilities alone, (see for example, Using Performance Based Contracts to Reduce NRW) and are systematically faster at reducing the rate of loss. - The Source

environment, stressing that no responsible government would fold its arms and allow the reckless attitude of a few to compromise the wellbeing of all Lagosians. His words: “We have no option than to act fast to nip this kind of unpleasant development in the bud, if we must prevent the outbreak of epidemics in our State as dirty environment comes with serious hazards” He reiterated that the ongoing beautification of Apapa, starting from Commercial Avenue

environs, and the cleaning intervention of the area, particularly the Tin Can-Coconut section of the Apapa-Oshodi expressway were parts of government’s determined efforts to sanitise the Apapa neighborhood. Appreciating the support of stakeholders, he noted with relief the collaborative efforts of the Nigerian Association of Road Transport Owners (NARTO), plank sellers and CDAs in the Tin Can-Coconut area for the successful takeoff of the cleaning intervention.

Ogun Orders Properties Owners to Clear Overgrown Weeds Owners of properties across the state have been called upon to ensure that their structures are not allowed to be overgrown with weeds and anyone found wanting would be sanctioned appropriately. A statement signed by the Commissioner for Environment. Mr. Bolaji Oyeleye, stated that owners or residents of bushy properties, who refused to clear them and keep the environment clean, could be sanctioned as provided for in Section 36 of the State Environmental Management (miscellaneous) provisions Law of 2004. The release stated further that owners and residents of properties that are contagious to highways across the state to

clear overgrown weeds on the space between their properties and the highways or such other public roads, adding that this would improve visibility and help reduce frequent road mishaps. According to the statement, “the state found this measure necessary to ensure that our environment is kept clean, non-conducive for vectors and vermins to thrive and unusable as hideouts by hoodlums and criminally minded people”. It stated further that, the government would not renege on its resolve and ongoing efforts at ensuring a safe and healthy environment for residents, calling for support and cooperation of all and sundry.

T H I S D AY Ëž Ëœ JULY 16, 2018

BUSINESS/MONEYGUIDE

â€˜Fintechs Will Assume Prominent Role in Bankingâ€™ Nume Ekeghe The Founder of the Computer Warehouse Group, Mr. Austin Okere has expressed optimism that fintech companies are likely to take a more prominent role in banking and the financial services space. Okere, said this recently at a forum organised by the Chartered Institute of Bankers of Nigeria (CIBN), Lagos chapter. According to Okere, â€œCustomers are the most significant force and represented by the outermost sector of the concentric circles. â€œAs they tend more towards a preference for digital currencies, the fintechs will tend to assume a more prominent role in the new

face of banking, and the regulatory regime will inadvertently tend towards the communication commissions under whose purview the Fintechs fall. â€œThis will introduce a regulatory imbroglio, as future â€˜Huge Banksâ€™ may fall outside the regulatory ambit of central banks as seems to be the case with the MPESA.â€? He however said this disruption would all depend on customer behaviour, adding that, â€œIf the customers however, maintain a strong appetite for traditional instruments of financial transactions such as notes and coins, cheques etc, then the current status quo will remain. â€œThe face of banking will thus be more of the same,

and the regulatory authority will continue to be central banks. â€œBetween these two positions may be many variants, depending on the appetite and preferences of customers, and the pace at which they are willing to embrace change.â€? Furthermore, he added: â€œFintechs are not the only ones challenging traditional banks for turf, retailers are also jumping into the financial services fray. For instance, Amazon has launched Amazon Cash, a way to shop its site without a bank card. â€œThis product is meant to appeal to the those who get paid in cash, donâ€™t have a bank account or debit card, and who donâ€™t use credit cards.

Experts Seek Increased Accountability in Organisations Financial market experts have stressed the need for operators in both public and private institutions to ensure accountability and adherence to corporate governance in their operations. The said this while speaking at the 2018 Audit Committee Conference with the theme, â€œCultivating the Conscience of Stewards and GatekeepersKey to responsible governance and control,â€? that took place in Lagos. Speaking at the event, the President of the Institute of Chartered Accountants of Nigeria (ICAN), Alhaji Razak Jaiyeola, disclosed that the institute had developed an ICAN Accountability Index, which aims at improving the process of accessing public finance and governance practices across the three tiers of Nigeriaâ€™s public sector. This, he said includes the federal, states and local governments. â€œSome of the specific objectives of the index include to encourage accountability and transparency in public financial management in Nigeria, to improve quality of governance and compliance with the Fiscal

Responsibility Act. â€œWe are working to ensure that the first result of the accountability index is released by September this year,â€? the ICAN boss explained. He revealed that the institute has also been working closely with the Financial Reporting Council of Nigeria on the move to re-introduce the National Code of Corporate Governance. â€œWe have put in place some machineries to support the anti-corruption campaign and promote good governance in the country. â€œFor instance, in 2015, a N50 million whistle-blowing fund was launched to reward its members who report any act of misconduct by members in public and private sector,â€? Jaiyeola added. According to him, to entrench good governance, the human conscience would be required to play prominent role in the success of such efforts. â€œIndeed, remove ethics and morality from any government policy and programme and what you will have left will be mere text of typed papers. â€œInterestingly, the accounting profession is arguably one that

requires high level of adherence to high ethical standards among its practitioners. â€œThe pervasive level of corruption in the Nigerian policy has raised several integrity questions on accountants, especially the auditors. â€œWhat it takes to be a good auditor goes beyond technical competence. In addition, to technical competence, the conscience is also very important. â€œA society that is sick with corruption and bugged down with the siphoning of public wealth by privileged few cannot be productive. â€œThe absence of trust makes governance and control costly. At ICAN, these issues continue to keep us awake,â€? he said. Earlier, the organiser of the conference and Chairman, Audit Committee Institute (ACI), Mr. Christian Ekeigwe, described conscience as â€œsomething that is inside of you. It is the seat of judgement and it is there that every judgement takes place.â€? â€œIf you groom your conscience wrongly, it results in something that the society will not be proud of. Your conscience is superior means that your conscience is available to fairness.

Farmcrowdy Wins Digital Business of the Year Award Vincent Obia Nigeriaâ€™s first digital agriculture platform, Farmcrowdy, has been named winner of the 2018 Digital Business of the year award in Africa. The award was given at the annual Global African Business Awards (GABA) ceremony in Addis Ababa, Ethiopia. Launched in 2017, GABA, the worldâ€™s premier annual business award was created to celebrate, appreciate, and highlight the achievements and positive contributions of organisations and working professionals in the continent. Other nominees for the award included e-commerce platforms â€“ Konga, Jumia, Zando, Dressmeoutlet, Mall for Africa, and Dealdey â€“ WeFarm, the worldâ€™s largest farmer-to-farmer digital network; Interswitch Payment Gateway; and Delvv.io, South

Africaâ€™s branding and refinement partners. The founder and CEO of Farmcrowdy, Onyeka Akumah, said, â€œWe are honoured to have our hard work aimed at impacting on the lives of rural farmers recognised. â€œWe are delighted about the great opportunities ahead of us as we continually strive to remain at the forefront of technological innovation in agriculture across Nigeria and eventually the continent of Africa.â€? With a team of 35, Farmcrowdy has, in the last 20 months, empowered over 7,000 direct and indirect rural farmers. It has given thousands of farm sponsors a platform to participate in agriculture from their computers or mobile phones in order to make profit at harvest. The platform has planted

maize, rice, and cassava on over 8,000 acres of farmland in less than two years and raised close to 600,000 chickens to boost food production in the country. Farmcrowdy has also raised $1.4 million in seed funding from local and international investors, including Cox Enterprises, Social Capital, Techstars Ventures, and most recently, won a grant from the GSMA Ecosystem Accelerator Innovator Fund. So far, the funds have given the leading startup the potency to extend its operations to 10 states in Nigeria with plans for more expansion across more states and regions. Farmcrowdy was adjudged â€œAgro-Innovator of the Year 2016/2017â€? by the Nigerian Agriculture Awards, and it was listed as one of the top innovative companies and institutions in Nigeria.

L-R: Group Managing Director, Nigerian National Petroleum Corporation, Dr Maikanti Baru speaking at the exhibition stand of Amazon Energy at the just concluded Nigeria Oil and Gas Conference 2018 and Amazonâ€™s Group Chief Executive Officer, Yinka Oluwatimehin in Abujaâ€Śrecently

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

MARCH 2018 Broad Money (M2)

24,303,049.86

-- Narrow Money (M1)

10,912,604.10

---- Currency Outside Banks

1,668,378.21

---- Demand Deposits

9,244,225.90

-- Quasi Money

13,390,445.76

Net Foreign Assets (NFA)

15,619,134.18

Net Domestic Assets(NDA)

8,683,915.68

-- Net Domestic Credit (NDC)

26,267,136.53

---- Credit to Government (Net)

3,823,345.45

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

5,433,209.43

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

-1,609,863.98

---- Credit to Private Sector (CPS)

22,443,791.08

--Other Assets Net

-17,583,220.85

Reserve Money (Base Money)

6,746,646.49

--Currency in Circulation

1,668,378.21

--Banks Reserves

4,357,551.58 Ëž Ă™Ă&#x;ĂœĂ?Ă? Ě‹

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

Ëž Ă™Ă˜Ă?ĂžĂ‹ĂœĂŁ Ă™Ă–Ă“Ă?ĂŁ Ă‹ĂžĂ? Ě‹ ÍŻÍąĎą

OPEC DAILY BASKET PRICE AS AT THURSDAY JULY 12, 2018

The price of OPEC basket of ďŹ fteen crudes stood at $72.15 a barrel on Friday, compared with $72.15 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), ZaďŹ ro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela) SOURCE: OPEC headquarters, Vienna

T H I S D AY ˾ ˜ ͯʹ˜ ͰͮͯͶ

MARKET NEWS

Equities Market Declines Further on Sustained Bearish Trading Goddy Egene The equities market remained bearish as the new week commenced yesterday with the Nigerian Stock Exchange (NSE) All-Share Index (ASI) declined 0.34 per cent to 37,266.86. Bellwether tickers such as GTBank, Zenith Bank, Access Bank and UBA were among the price losers. Although the earnings season for companies to release their half year (H1) is

here, investors have remained cautious in trading. However, analysts at Meristem Securities Limited said: “We envisage the bearish run of the market will ease over the coming days as results are being released and the low prices stir bargain hunting activities on the counters.” The price losers’ was led by LearnAfrica Plc, Multitrex Plc, PZ Cussons Nigeria Plc and Wema Bank Plc with 10 per

P R I C E S MAIN BOARD

F O R DEALS

cent drop apiece. Custodian Investment Plc shed 9.9 per cent, while Neimeth International Pharmaceuticals Plc went down 9.6 per cent. Oando Plc and ABC Transport Plc went down by 9.3 per cent and 8.7 per cent in that order. Other top price losers were: Equity Assurance Plc (8.3 per cent); Regency Alliance Assurance Plc 7.6 per cent); Tantalizer Plc (7.4 per cent); Unity Bank Plc (6.8 per cent); CAP Plc (6.7

S E C U R I T I E S

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

per cent) and Forte Oil Plc (6.5 per cent). On the other hand, NAHCO Plc led the seven stocks that recorded price gainers with 9.9 per cent, trailed by Sovereign Trust Insurance Plc (8.7 per cent, while LASACO Assurance Plc chalked up 5.8 per cent. UAC of Nigeria Plc and Flour Mills of Nigeria Plc garnered 5.2 per cent and 3.1 per cent in that order. Transcorp Plc, which released its results for the half year

T R A D E D MAIN BOARD

A S

ended June 30, 2018, equally made the price gainers’ table with 2.4 per cent rise. Transcorp posted increased revenue, profit before tax(PBT) and profit after tax (PAT). Revenue rose by 58 per cent from N34.174 billion to N54.089 billion. PBT grew by 163 per cent to N11.944 billion, from N4.532 billion in 2017, while PAT rose higher by 199 per cent from N1.574 billion to N4.716 billion. Meanwhile, activity level was

O F

mixed as volume traded rose 43.0 per cent to 303.5 million units while value traded decreased 37 per cent to N2.0 billion. The most traded stocks by volume were Medview Airline Plc (100.0 million shares), FBN Holdings Plc (42.9 million shares) Transcorp Plc (40.6 million shares) while FBN Holdings Plc (N445.8 million), Zenith Bank (N398.5 million) and Medview Airline Plc (N198.4 million) were the top traded stocks by value.

1 6 / 0 7 / 2 0 1 8 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

˾ TUESDAY, JULY 17, 2018

Nigeria Daily Stock Market Report:

d,/^ z &Z/Es ^d ϰϬ > ^ d, E^ ^/ Θ E^ ϯϬ /E y dŚĞ dŚŝƐ ĂǇ ĨƌŝŶǀĞƐƚ ϰϬ ŝŶĚĞǆ ǁĂƐ ĐƌĞĂƚĞĚ ŽǀĞƌ Ă ǇĞĂƌ ĂŐŽ ;:ƵŶĞ 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 Ɛ Ăƚ DŽŶĚĂǇ͕ ϭϲƚŚ ŽĨ :ƵůǇ ϮϬϭϴ͕ ƚŚĞ ĨƌŝŶǀĞƐƚ ϰϬ ŝŶĚĞǆ ůŽƐƚ ϯϮďƉƐ ƚŽ ƐĞƩůĞ Ăƚ ϭ͕ϱϰϱ͘ϰϱ ƉŽŝŶƚƐ ǁŚŝůĞ zd ƌĞƚƵƌŶ ĚĞĐƌĞĂƐĞĚ ƚŽ Ϭ͘Ϯй͘ dŚĞ zd ƌĞƚƵƌŶ ŽĨ ƚŚĞ dŚŝƐ ĂǇ ĨƌŝŶǀĞƐƚ ϰϬ ƐƵƌƉĂƐƐĞƐ ƚŚĞ zd ƌĞƚƵƌŶ ŽĨ ƚŚĞ E^ ůů ^ŚĂƌĞ /ŶĚĞǆ ĂŶĚ ƚŚĂƚ ŽĨ ƚŚĞ E^ ϯϬ ǁŚŝĐŚ ĂƌĞ ŶĞŐĂƟǀĞ ŽĨ ʹϮ͘ϲй ĂŶĚ ʹϯ͘ϰй ƌĞƐƉĞĐƟǀĞůǇ͘ zĞƐƚĞƌĚĂǇ͛Ɛ ŶĞŐĂƟǀĞ ƉĞƌĨŽƌŵĂŶĐĞ ŝŶ ƚŚĞ dŚŝƐĚĂǇ ĨƌŝŶǀĞƐƚ ϰϬ ǁĂƐ ĚƵĞ ƚŽ ĚĞĐƌĞĂƐĞ ŝŶ 'h Z Edz ;ͲϬ͘ϰйͿ͕ E/d, ;ͲϬ͘ϮйͿ ĂŶĚ ^^ ;Ͳϭ͘ϬйͿ ǁŚŝĐŚ ĐƵŵƵůĂƟǀĞůǇ ĂĐĐŽƵŶƚ ĨŽƌ ϯϳ͘ϯй ŽĨ ƚŚĞ ŝŶĚĞǆ͘

Tuesday, July 17, 2018

THISDAY AFRINVEST 40 INDEX Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

Current Price

Ticker

Price Previous Current Price Change Price Weightin Change Index to Change g YTD Date

ROE

ROA

P/E

P/BV

Divinden Earnings d Yield Yield

THISDAY AFRINVEST 40 1,545.45

-0.32%

0.2%

54.5%

19.3%

7.0%

7.2x

0.9x

5.5%

Guaranty Trust Bank PLC

39.60

-0.4%

20.8%

-2.8%

-2.3%

32.6%

5.2%

6.4x

2.2x

6.8%

11.2% 15.6%

Zenith Bank PLC

23.95

-0.2%

12.1%

-6.6%

-7.6%

26.3%

3.6%

4.0x

1.0x

11.3%

25.0%

Nigerian Brew eries PLC

110.00

0.0%

7.3%

-18.5%

17.4%

27.6x

4.7x

3.8%

3.6%

Nestle Nigeria PLC

1,527.00

0.0%

7.9%

-1.9%

73.3%

18.9%

35.6x

22.6x

2.8%

Dangote Cement PLC

227.00

0.0%

6.1%

-1.3%

22.7%

12.0%

19.6x

4.6x

4.6%

5.1%

0.0%

13.4%

FBN Holdings Plc

10.40

6.5%

18.2%

18.3%

6.7%

0.8%

7.5x

0.6x

2.4%

Access Bank PLC

10.10

-1.0%

4.3%

-3.3%

-4.7%

12.7%

1.5%

5.0x

0.6x

6.4%

20.1%

United Bank for Africa PLC

9.95

-0.5%

4.2%

-3.4%

-4.4%

15.9%

1.9%

4.4x

0.7x

8.6%

22.7%

Ecobank Transnational Inc

2.8%

30.0%

SEPLAT Petroleum Development C

20.75

2.0%

4.0%

22.1%

27.5%

12.9%

1.0%

6.9x

0.9x

650.00

0.0%

3.2%

3.8%

22.3%

13.2%

3.3x

0.7x

14.5%

Stanbic IBTC Holdings PLC

51.50

0.0%

3.6%

24.1%

25.9%

30.8%

4.1%

9.8x

2.7x

1.0%

10.2%

Unilever Nigeria PLC

51.85

0.0%

3.2%

26.5%

28.9%

19.2%

8.0%

27.7x

3.8x

1.0%

3.6%

Guinness Nigeria PLC

97.00

0.0%

2.4%

3.2%

15.4%

6.1%

18.5x

2.5x

0.7%

5.4%

37.50

0.0%

-16.5%

Lafarge Africa PLC

1.4%

-16.5%

-36.8%

-7.7%

2.1x

4.1%

Fidelity Bank PLC

2.05

-1.0%

1.0%

-16.7%

-20.5%

10.4%

1.4%

1.6x

0.3x

5.4%

Oando PLC

5.80

-9.4%

1.3%

-3.2%

10.3%

1.5%

7.2x

0.4x

Dangote Sugar Refinery PLC

17.50

0.0%

1.0%

-12.5%

-14.0%

45.0%

20.0%

5.2x

2.0x

14.3%

19.2%

ĞĂƌƐ ƌĂŐ DĂƌŬĞƚ zd >ŽƐƐ &ƵƌƚŚĞƌ͙ E^ ^/ ĚŽǁŶ Ϭ͘ϯй

Okomu Oil Palm PLC

92.00

0.0%

1.5%

35.9%

39.7%

29.4%

9.2x

3.1x

3.4%

10.9%

International Brew eries PLC

40.50

1.4%

0.6%

-25.7%

-26.4%

24.6%

7.4%

42.4x

9.6x

dŚĞ ŶĞŐĂƟǀĞ ƉĞƌĨŽƌŵĂŶĐĞ ŽĨ ƚŚĞ ůŽĐĂů ďŽƵƌƐĞ ŝŶ ǇĞƐƚĞƌĚĂǇ͛Ɛ ƐĞƐƐŝŽŶ ĚƌĂŐŐĞĚ ƚŚĞ E^ ůů ^ŚĂƌĞ /ŶĚĞǆ ; ^/Ϳ ďǇ Ϭ͘ϯй ƚŽ ϯϳ͕Ϯϲϲ͘ϴϲ ƉŽŝŶƚƐ ǁŚŝůĞ zd ůŽƐƐ ǁŽƌƐĞŶĞĚ ƚŽ Ϯ͘ϲй͘ Ɛ Ă ƌĞƐƵůƚ͕ ŝŶǀĞƐƚŽƌƐ ůŽƐƚ Eϰϱ͘ϲďŶ ĂƐ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ĚĞĐůŝŶĞĚ ƚŽ Eϭϯ͘ϱƚŶ͘ WƌŽĮƚ ƚĂŬŝŶŐ ŝŶ h E ;Ͳϱ͘ϬйͿ ĂŶĚ W ;Ͳ ϭϬ͘ϬйͿ ĂƐ ǁĞůů ĂƐ ƐĞůůͲŽīƐ ŝŶ K E K ;Ͳϵ͘ϰйͿ ƉƵůůĞĚ ƚŚĞ ďĞŶĐŚŵĂƌŬ ŝŶĚĞǆ ůŽǁĞƌ͘ dŚĞ ƐĞůů ŽīƐ ǁŝƚŶĞƐƐĞĚ ŝŶ K E K ǁĞƌĞ ůĂƌŐĞůǇ ĚƌŝǀĞŶ ďǇ ƚŚĞ ĂůůĞŐĞĚ ĮŶĞ ŽĨ h^ΨϲϴϬ͘Ϭŵ ůĞǀŝĞĚ ŽŶ ŵĂŶĂŐĞŵĞŶƚ ŽĨ ƚŚĞ ĐŽŵƉĂŶǇ͘ ,ŽǁĞǀĞƌ͕ ĂĐƟǀŝƚǇ ůĞǀĞů ǁĂƐ ŵŝǆĞĚ ĂƐ ǀŽůƵŵĞ ƚƌĂĚĞĚ ƌŽƐĞ ϰϯ͘Ϭй ƚŽ ϯϬϯ͘ϱŵ ƵŶŝƚƐ ǁŚŝůĞ ǀĂůƵĞ ƚƌĂĚĞĚ ĚĞĐƌĞĂƐĞĚ ϯϳ͘Ϭй ƚŽ EϮ͘ϬďŶ͘ dŚĞ ŵŽƐƚ ƚƌĂĚĞĚ ƐƚŽĐŬƐ ďǇ ǀŽůƵŵĞ ǁĞƌĞ D s/ t /Z ;ϭϬϬ͘ϬŵͿ͕ & E, ;ϰϮ͘ϵŵͿ ĂŶĚ dZ E^ KZW ;ϰϬ͘ϲŵͿ ǁŚŝůĞ & E, ;Eϰϰϱ͘ϴŵͿ͕ E/d, ;Eϯϵϴ͘ϱŵͿ ĂŶĚ D s/ t /Z ;Eϭϵϴ͘ϰŵͿ ǁĞƌĞ ƚŚĞ ƚŽƉ ƚƌĂĚĞĚ ƐƚŽĐŬƐ ďǇ ǀĂůƵĞ͘

Flour Mills of Nigeria PLC

29.90

2.0%

0.7%

3.1%

10.4%

2.8%

6.5x

0.8x

3.3%

15.3%

Transnational Corp of Nigeria

11.2%

2.5%

6.5x

0.8x

1.6%

15.4%

22.8x

0.6x

4.6%

Kŝů Θ 'ĂƐ ^ĞĐƚŽƌ dŽƉƐ >ŽƐĞƌƐ ŚĂƌƚ WĞƌĨŽƌŵĂŶĐĞ ĂĐƌŽƐƐ ƐĞĐƚŽƌƐ ǁĂƐ ďĞĂƌŝƐŚ ĂƐ Ăůů ŝŶĚŝĐĞƐ ƵŶĚĞƌ ŽƵƌ ǁĂƚĐŚ ƚƌĞŶĚĞĚ ƐŽƵƚŚǁĂƌĚƐ͘ dŚĞ Kŝů Θ 'ĂƐ ŝŶĚĞǆ ǁĂƐ ƚŚĞ ǁŽƌƐƚ ƉĞƌĨŽƌŵĞƌ͕ ĚŽǁŶ ϭ͘ϵй ĂƐ Ă ƌĞƐƵůƚ ŽĨ ƐĞůůͲŽīƐ ŝŶ &KZd ;Ͳϲ͘ϲйͿ ĂŶĚ KEK/> ;Ͳϭ͘ϵйͿ͘ dŚĞ /ŶƐƵƌĂŶĐĞ ĂŶĚ ĂŶŬŝŶŐ ŝŶĚŝĐĞƐ ƚƌĂŝůĞĚ͕ ĚĞĐůŝŶŝŶŐ Ϭ͘ϴй ĂŶĚ Ϭ͘ϳй ƌĞƐƉĞĐƟǀĞůǇ ĚƵĞ ƚŽ ůŽƐƐĞƐ ŝŶ h^dK / E ;ͲϭϬ͘ϬйͿ͕ E D ;Ͳϯ͘ϮйͿ͕ Yh/dz ^hZ ;Ͳ ϴ͘ϯйͿ͕ h E ;Ͳϱ͘ϬйͿ͕ 'h Z Edz ;ͲϬ͘ϰйͿ ĂŶĚ ^^ ;Ͳϭ͘ϬйͿ͘ >ŝŬĞǁŝƐĞ͕ ƚŚĞ /ŶĚƵƐƚƌŝĂů ĂŶĚ ŽŶƐƵŵĞƌ 'ŽŽĚƐ ŝŶĚŝĐĞƐ ĐůŽƐĞĚ ŝŶ ƚŚĞ ƌĞĚ͕ ƐŚĞĚĚŝŶŐ Ϭ͘Ϯй ĂŶĚ Ϭ͘ϭй ƌĞƐƉĞĐƟǀĞůǇ ĨŽůůŽǁŝŶŐ ƉƌŽĮƚ ƚĂŬŝŶŐ ŝŶ W ;ͲϮ͘ϵйͿ͕ W ;ͲϭϬ͘ϬйͿ ĂŶĚ E'&>KhZ ;Ͳ ϭ͘ϲйͿ͘

/ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ ĂƐ ŵĞĂƐƵƌĞĚ ďǇ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ ;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ ǁĞĂŬĞŶĞĚ ƚŽ Ϭ͘ϯǆ ĨƌŽŵ Ϭ͘ϳǆ ƌĞĐŽƌĚĞĚ ŝŶ ƚŚĞ ƉƌŝŽƌ ƐĞƐƐŝŽŶ ĂƐ ϴ ƐƚŽĐŬƐ ĂĚǀĂŶĐĞĚ ƌĞůĂƟǀĞ ƚŽ ϯϮ ĚĞĐůŝŶĞƌƐ͘ zĞƐƚĞƌĚĂǇ͛Ɛ ƚŽƉ ŐĂŝŶĞƌƐ ǁĞƌĞ E , K ;нϭϬ͘ϬйͿ͕ ^KsZ E/E^ ;нϴ͘ϳйͿ ĂŶĚ > ^ K ;нϱ͘ϵйͿ ǁŚŝůĞ t D ;Ͳ ϭϬ͘ϬйͿ͕ hW Z /d ;ͲϭϬ͘ϬйͿ ĂŶĚ W ;ͲϭϬ͘ϬйͿ ǁĞƌĞ ƚŚĞ ǁŽƌƐƚ ƉĞƌĨŽƌŵĞƌƐ͘ ĞƐƉŝƚĞ ƚŚĞ ŶĞŐĂƟǀĞ ƐĞŶƟŵĞŶƚ ŝŶ ƚŚĞ ŵĂƌŬĞƚ͕ ǁĞ ĂŶƟĐŝƉĂƚĞ Ă ƌĞďŽƵŶĚ ŝŶ ƐƵďƐĞƋƵĞŶƚ ƐĞƐƐŝŽŶƐ ĂƐ ŝŶǀĞƐƚŽƌƐ ŚƵŶƚ ĨŽƌ ďĂƌŐĂŝŶ ŽƉƉŽƌƚƵŶŝƟĞƐ͘ KƵƌ ǀŝĞǁ ŝƐ ĨƵƌƚŚĞƌ ďƵƩƌĞƐƐĞĚ ďǇ ƚŚĞ ZĞůĂƟǀĞ ^ƚƌĞŶŐƚŚ /ŶĚĞǆ ;Z^/Ϳ Ăƚ ϯϲ͘ϭ ƉŽŝŶƚƐ ǁŚŝĐŚ ŝƐ ĐůŽƐĞ ƚŽ ƚŚĞ ŽǀĞƌƐŽůĚ ƌĞŐŝŽŶ͘

Afrinvest Securities Limited (RC 603 315) (A Dealing Member of the Nigerian Stock Exchange)

2.4%

1.26

2.4%

0.5%

-13.7%

-14.9%

5.3%

0.5%

-17.2%

1.5%

0.6%

-2.9%

0.5%

-12.0%

-15.9%

-5.8%

-0.7%

-13.0%

25.0%

5.3%

9.7x

2.3x

8.5%

31.6%

5.8%

0.9%

4.0x

0.2x

4.7%

25.2%

4.4%

15.4%

UAC of Nigeria PLC

14.00

Diamond Bank PLC

1.32

Total Nigeria PLC

0.1x

200.00

0.0%

0.5%

2.08

-2.3%

0.7%

180.50

1.9%

0.5%

-7.2%

38.8%

15.7%

6.5x

2.2x

4.4% -55.4% 10.3%

FCMB Group Plc

11 PLC

Forte Oil PLC

27.00

-6.6%

0.3%

-37.9%

-35.7%

17.6%

1.6%

14.6x

2.3x

PZ Cussons Nigeria PLC

17.10

-10.0%

0.3%

-17.0%

-19.1%

10.7%

5.0%

16.2x

1.7x

2.9%

6.2%

Cadbury Nigeria PLC

11.15

0.0%

0.3%

-28.8%

-28.5%

2.0%

0.8%

52.1x

1.8x

1.4%

1.9%

Presco PLC

73.50

0.0%

0.4%

7.3%

35.8%

24.8%

3.1x

0.9x

2.8%

32.8%

NASCON Allied Industries PLC

20.25

0.0%

0.4%

9.5%

5.4%

52.3%

19.7%

9.6x

4.3x

7.4%

10.5%

UPDC Real Estate Investment Tr

9.00

-10.0%

0.3%

-10.0%

0.8x

7.6%

Union Bank of Nigeria PLC

5.70

-5.0%

0.2%

-26.9%

-24.1%

5.3%

1.1%

8.2x

0.6x

Julius Berger Nigeria PLC

26.75

-0.9%

0.3%

-4.5%

17.3%

1.8%

7.4x

1.2x

3.7%

13.5%

Sterling Bank PLC

1.43

-2.1%

0.3%

32.4%

26.5%

10.7%

1.0%

4.3x

0.4x

1.4%

23.3%

1.2x

2.1%

4.4%

2.8%

29.3x

1.3x

40.8%

6.9%

12.2%

Dangote Flour Mills Plc

9.55

-1.5%

0.2%

-21.4%

GlaxoSmithKline Consumer Niger

18.55

0.0%

0.2%

-14.2%

Chemical and Allied Products P

34.00

-2.9%

0.2%

0.0%

-4.8%

66.2%

30.2%

15.9x

10.6x

6.0%

6.3%

Beta Glass PLC

81.00

0.0%

0.2%

57.9%

17.7%

11.5%

9.8x

1.6x

1.3%

10.2%

Transcorp Hotels Plc

7.45

0.0%

0.1%

3.3%

5.3%

2.9%

19.5x

1.0x

1.8%

5.1%

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

T o p 10

P ric e

P ric e C hg %

4.08

10.0%

T ra de s

T ic k er

NA HCO SOVR EN IN S

0.25

LA SA C O

14.00

5.3%

F LOUR M ILL

29.90

3.1%

ET I A IIC O

N ESF

Vo lum e

P ric e C hg %

M ED VIEWA IR

1 00.0

0.0%

FB NH

42.9

0.0%

T R A N SC OR P

40.6

2.4%

M ULT IVER SE

20.9

0.0%

Z EN IT H B A N K

1 6.6

-0.2% -2.3%

1.26

2.4%

FCM B

9.5

20.75

1.7%

D IA M ON D B N K

7.8

-2.9%

0.68

1.5%

N EM

5.1

-3.2%

6.60

0.0%

SKYEB A N K

4.2

-1 .6%

552.20

0.0%

ST A N B IC

3.7

0.0%

T o p 10 L o s e r s T ic k er WEM A B A N K

by V o lum e

5.9%

UA C N

T R A N SC OR P

3.4%

8.7%

0.36

R OA D S

/ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ tĞĂŬĞŶƐ

62.1% 13.9%

T o p 10

P ric e

P ric e C hg %

0.63

-10.0%

UP D C R EIT

9.00

-10.0%

17.10

-10.0%

M ULT IT R EX

0.36

-10.0%

LEA R N A F R C A

1.26

-10.0%

C UST OD IA N

5.51

-10.0%

N EIM ET H

0.47

OA N D O

5.80

T ra de s

by V a lue

T ic k er

Value

FB NH

445.8

P ric e C hg % 0.0%

Z EN IT H B A N K

398.5

-0.2%

M ED VIEWA IR

1 98.4

0.0%

ST A N B IC

1 90.6

0.0%

GUA R A N T Y

1 1 0.0

-0.8%

GUIN N ESS

73.8

-0.5%

-9.6%

72.0

0.0%

-9.4%

T R A N SC OR P

51 .5

2.4%

A B CTRA NS

0.42

-8.7%

N EST LE

49.4

0.0%

UN ION D A C

0.32

-8.6%

SEP LA T

45.4

0.0%

Investment Research

Brokerage Ayodeji Ebo | aebo@afrinvest.com

Robert Omotunde | romotunde@afrinvest.com

Bolaji Fajenyo | bfajenyo@afrinvest.com

Eronmosele Aziba | eaziba@afrinvest.com

T H I S D AY ˾ ˜ ͹Ϳ˜ ͺ͸͹Ͷ

MARKET NEWS

Hope of Higher Dividend Rises as Transcorp Grows Half-year Profit by 200% Goddy Egene The assurance given by the President/CEO, Transnational Corporation of Nigeria(Transcorp) Plc, Adim Jibunoh to shareholders of the company that they would receive high returns in the years ahead will soon come to reality going by the results of the investment conglomerate for the half year(H1) ended June 30, 2018. The company paid a dividend of N813 million

or two kobo per share for the 2017 financial year. But Jibunoh, had at annual general meeting (AGM) of the company held in April in Lagos, said that the company had been involved in a number of projects which would ensure that shareholders begin to enjoy real value for their investment in the next few years. And going by the H1 results released at the Nigerian Stock Exchange

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

(NSE) yesterday, the shareholders would begin to enjoy real value in terms of dividend payment as from the end of the financial year. Transcorp grew its profit before tax (PBT) and profit after tax (PAT) by 163 per cent and 199 per cent respectively in H1 2018. Details of the results showed that Transcorp recorded arevenue of N54.089 billion, up 58 per cent from N34.174 billion in the corresponding period of 2017. Cost of sales rose in

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 13Jul-2018, unless otherwise stated.

the same trend by 52 per cent to N29.517 billion, from N19.3billion in 2017, while administrative expenses stood at N7.617 billion compared with N5.664 billion in 2017. Net finance cost rose slower by 8.3 per cent from N4.988 billion to N5.403 billion, bringing the PBT to N11.944 billion, a jump of 163 per cent when compared with N4.532 billion in 2017. Although tax paid increased by 190 per cent from N368 million to N1.068

billion, PAT rose higher by 199 per cent from N1.574 billion to N4.716 billion. Earnings per share stood at 11.6 kobo, up from 3.87 kobo in 2017. The Chairman of Transcorp, Tony Elumelu had told shareholders that the company is truly Nigeria’s own conglomerate because it was set up to drive the nation’s economy in a positive direction by investing in catalytic sectors, capable of improving lives

and Transforming Nigeria.” According to him, the Transcorp team would explore the conglomerate’s oil and gas assets and leverage on them to maximise its potential in the power generation space. “The plan is for Transcorp Power to continue expanding its generating capacity and contribute even more to the national grid despite already emerging as Nigeria’s highest generator of Power,” he explained.

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 185.06 185.15 3.95% Nigeria International Debt Fund 245.19 245.27 6.00% 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 0.84 0.85 2.10% ACAP Income Funds 0.64 0.64 6.72% 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 12.80% 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 N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 10.57% Paramount Equity Fund 11.89 12.20 7.26% Women's Investment Fund 104.52 107.20 3.87% NAV Per Share Fund Name Nigeria Infrastructure Debt Fund 105.44 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 12.55% 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 11.84% Coronation Balanced Fund 1.16 1.19 10.65% Coronation Fixed Income Fund 1.14 1.17 9.69% 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 1,167.81 1,168.52 8.02% FBN Heritage Fund 146.93 148.16 5.33% FBN Money Market Fund 100.00 100.00 12.15% FBN Nigeria Eurobond (USD) Fund - Institutional $112.93 $113.42 2.47% FBN Nigeria Eurobond (USD) Fund - Retail $112.73 $113.23 2.39% FBN Nigeria Smart Beta Equity Fund 112.93 113.42 6.34% 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 1.36 1.39 4.55% Legacy Debt Fund 3.09 3.09 6.95% 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 3,107.73 3,139.55 4.09% Coral Income Fund 2,655.37 2,655.37 8.50% 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 12.62% Nigeria Entertainment Fund 103.08 104.38 3.27% 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 12.27% Vantage Balanced Fund 2.17 2.19 2.83%

Vantage Guaranteed Income Fund 1.00 1.00 14.23% Kedari Investment Fund (KIF) 120.69 121.04 4.93% 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 13.20 13.32 0.70% Meristem Money Market Fund 10.00 10.00 11.28% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.33 1.35 11.77% PACAM Fixed Income Fund 11.84 11.90 7.27% PACAM Money Market Fund 10.00 10.00 11.00% SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 130.07 132.12 0.90% 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 1.61 1.61 8.37% 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 2,375.46 2,395.31 5.91% Stanbic IBTC Bond Fund 186.90 186.90 5.92% Stanbic IBTC Ethical Fund 1.03 1.05 2.97% Stanbic IBTC Guaranteed Investment Fund 240.69 240.74 9.29% Stanbic IBTC Iman Fund 181.95 184.03 1.60% Stanbic IBTC Money Market Fund 100.00 100.00 12.24% Stanbic IBTC Nigerian Equity Fund 9,710.22 9,842.42 0.42% Stanbic IBTC Dollar Fund (USD) 1.10 1.10 3.92% 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 1.32 1.33 -1.56% United Capital Bond Fund 1.67 1.67 6.75% United Capital Equity Fund 0.94 0.96 2.68% United Capital Money Market Fund 1.14 1.00 11.50% United Capital Eurobond Fund 106.87 106.87 3.86% United Capital Wealth for Women Fund 1.14 1.14 4.54% 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 12.97 13.18 3.60% Zenith Ethical Fund 13.65 13.80 3.57% Zenith Income Fund 20.54 20.54 8.53% Zenith Money Market Fund 1.00 1.00 11.82%

REITS NAV Per Share

Yield / T-Rtn

11.41 136.66 51.39

1.01% 3.17% 1.10%

Bid Price

Offer Price

Yield / T-Rtn

11.97 147.02 109.58

12.07 150.01 111.58

-1.25% 2.89% 0.28%

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

4.64 8.88 17.52 19.18 144.64

4.68 8.96 17.62 19.38 146.64

-2.15% -7.23% 0.03% -2.49% 5.73%

The value of investments and the income from them may fall as well as rise. Past performance is a guide and not an indication of future returns. Fund prices published in this edition are also available on each fund manager’s website and FMAN’s website at www.fman.com.ng. Fund prices are supplied by the operator of the relevant fund and are published for information purposes only.

T H I S D AY ˾ ͯ͵˜ ͰͮͯͶ

T H I S D AY Ë¾ TUESDAY JULY 17, 2018

T H I S D AY Ë¾ Í¯ÍµËœ Í°Í®Í¯Í¶

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Asset Management

THE UNITED CAPITAL WEALTH FOR WOMEN FUND STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2017 2017 N'000 ASSETS Cash and cash equivalent

1,035,602

Financial assets held to maturity

124,232 1,159,834

Total assets LIABILITIES Other liabilities

12,924

Total liabilities

12,924

UNITHOLDERSâ€™ CONTRIBUTIONS AND RESERVE Unitholders' Contribution Retained earnings

1,051,906 95,004

Total unitholdersâ€™ Contribution

1,146,910

TOTAL LIABILITIES AND UNITHOLDERS CONTRIBUTION

1,159,834

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME Financial statement for the period ended 31 December 2017 8 Months to 31-Dec-2017 N'000 129,910 9,171

Interest Income Other Investment Income Total Income Operating Expenses 3URĂ€W IRU WKH SHULRG

139,081 (44,077) 95,004

2WKHU &RPSUHKHQVLYH ,QFRPH QHW RI LQFRPH WD[ Items that will not be reclassified subsequently to Profit or loss:

Items that may be reclassified subsequently to Profit or loss:

7RWDO FRPSUHKHQVLYH ,QFRPH IRU WKH \HDU

95,004 9

(DUQLQJV SHU VKDUH .RER FHQWV

These financial statements were approved by the Board of Directors of the fund manager on 26th, February 2018 and signed on behalf of the Board of Directors by the director and trustee listed below.

6XQQ\ $QHQH )81' 0$1$*(5 ',5(&725

)5& ,&$1 Odiri Oginni - FUND ACCOUNTANT )5& ,&$1

akinde nd n d - TRU Omobola M Makinde TRUSTEES )5& 1%$

The Fund manager is pleased to advise that in consultation with the Trustees of the Fund, a distribution of 15 kobo per unit will be paid to unit holders whose names appear on the register of unit holders as at 16th July, 2018. Unit holders who elect to reinvest their distribution would be allotted units equivalent to their distribution on 26th July, 2018 at the prevailing offer price for that day. ,QGHSHQGHQW $XGLWRU V 5HSRUW WR WKH 8QLW +ROGHUV RI 81,7(' &$3,7$/ :($/7+ )25 :20(1 )81' 5HSRUW RQ WKH )LQDQFLDO 6WDWHPHQWV We have audited the accompanying financial statements of UNITED CAPITAL WEALTH FOR WOMEN FUND which comprise the statements of financial position as at 31st December 2017, the statement of profit or loss and other comprehensive income, statement of changes in equity, statement of cash flow for the year then ended 31st December 2017, a summary of significant accounting policies and other explanatory information. )XQG 0DQDJHUÂˇV 5HVSRQVLELOLW\ IRU WKH )LQDQFLDO 6WDWHPHQWV The Fund Manager is responsible for the preparation and fair presentation of these financial statements in accordance with the International Financial Reporting Standards (IFRS), Companies and Allied Matters Act, CAPC20 LFN 2004, the Investment and Securities Act No. 29 2007, and the Financial Reporting Council of Nigeria Act No 6 2011 and for such internal control as the Fund Manager determines are necessary to enable the preparation of financial statements that are free from material misstatements, whether due to fraud or error. $XGLWRUÂˇV 5HVSRQVLELOLW\ Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with International Standards on Auditing. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditorsâ€™ judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditors consider internal controls relevant to the entityâ€™s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entityâ€™s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Fund Manager, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. 2SLQLRQ In our opinion, the financial statements give a true and fair view of the financial position of UNITED CAPITAL WEALTH FOR WOMEN FUND as at 31 December 2017 and its financial performance and cash flows for the year then ended in accordance with the International Financial Reporting Standards, the Companies and Allied Matters Act Cap C20 LFN 2004, Investments and Securities Act No 29 of 2007 and the Financial Reporting Council of Nigeria Act, No 6, 2011. 5HSRUW RQ WKH OHJDO DQG UHJXODWRU\ UHTXLUHPHQWV Compliance with the requirements of schedule 6 of the Companies and Allied Matters Act of Nigeria. In our opinion, proper books of accounts have been kept by the Fund, so far as appears from our examination of those books and the statement of financial position and the statement of comprehensive income are in agreement with the books of account.

Michael Daudu, FCA, FRC/2013/ICAN/00000000845 For: Akintola Williams Deloitte Chartered Accountants Lagos, Nigeria

T H I S D AY ˾ ͯ͵˜ ͰͮͯͶ

TRANSMISSION COMPANY OF NIGERIA (TCN)

Project Management Unit (PMU) Specific Procurement Notice th

DATE: 17 July, 2018 COUNTRY: Nigeria NAME OF PROJECT: Nigeria Electricity and Gas Improvement Project CREDIT NO.: CR 46200 UNI CONTRACT TITLE: Purchase of Bulk GAP Conductor and Circuit Breakers for Transmission Company of Nigeria (TCN) REFERENCE NO: Bid No.: ICB-NGP-T10

A complete set of bidding documents comprising of Lots 1 & 2 in English language may be purchased by interested eligible bidders upon the submission of a written application to the address below and upon payment of a nonrefundable fee of Fifty thousand Naira (N50,000.00) via Remita by generating Remita Retrieval Reference (RRR) in favour of Transmission Company of Nigeria-Project Management Unit. The Document shall be sent by Courier upon additional payment of Twelve Thousand Naira (NGN12,000.00) for places within Nigeria or Thirty Thousand Naira (NGN30,000.00) for Europe and West Africa and Fifty Thousand Naira (NGN50,000.00) for all other countries not later than three (3) weeks from the date of publication to cover the delivery.

Bids must be delivered to the address below on or before 12:00noon on 11th September, 2018. Electronic bidding will not be permitted. Late bids will be rejected. Bids will be publicly opened in the presence of the bidders' designated representatives and anyone who choose to attend at the address below on 11th September, 2018 at 12:00 noon.

All bids must be accompanied by a Bid Security as follows: Lot 1 – One hundred and sixty thousand US Dollars (US$160,000) Lot 2 – Seventeen thousand US Dollars (US$17,000)

Firms that cannot meet the following key qualifications requirements are not encouraged to participate in the bidding process:

1. The Federal Republic of Nigeria has received financing from the World Bank toward the cost of the Nigeria Electricity and Gas Improvement Project, and intends to apply part of the proceeds toward payments under the contract for the Purchase of Bulk Conductor and Circuit Breakers for Transmission Company of Nigeria (TCN):ICB-NGP-T10 2. The Transmission Company of Nigeria Plc-Project Management Unit (TCN-PMU) now invites sealed bids from eligible bidders for Purchase of Bulk GAP Conductor and Circuit Breakers for Transmission Company of Nigeria (TCN). S/N

Type

LOT 1 410mm2 GAP-Condor

240mm2 GAP-Hawk

185mm2 GAP-Lynx

Optic Fibre Ground Wire (OPGW) All the accessories of GAP Conductor All the accessories of OPGW LOT 2 132kV Circuit Breaker

5 6 1 2

132kV Current Transformer

Qty

Delivery Period

180km

6 months from contract signing 6 months from contract 90km signing 6 months from contract 1830km signing 463km 6 months from contract signing Lot 6 months from contract signing Lot 6 months from contract signing 15Nos 45Nos

6 months from contract signing 6 months from contract signing

3. Bidding will be conducted through the International Competitive Bidding procedures as specified in the World Bank's Guidelines: Procurement of Goods, Works and NonConsulting Services under IBRD Loans and IDA Credits & Grants by World Bank Borrowers January 2011 revised July 2014 ("Procurement Guidelines"), and is open to all eligible bidders as defined in the Procurement Guidelines. In addition, please refer to paragraphs 1.6 and 1.7 setting forth the World Bank's policy on conflict of interest. 4. Interested eligible bidders may obtain further information from Transmission Company of Nigeria Plc, Project Management Unit (TCN-PMU) - Engr. A. A. Gwadabe tcnpmu@tcnpmu.ng & abugwadabe@tcnpmu.ng and inspect the bidding documents during office hours 0900 to 1700 hours at the address given below.

Minimum average annual turnover of: Lot 1 – Forty eight million, seven hundred thousand US Dollars (US$48,700,000) Lot 2 – Five million, two hundred thousand US Dollars (US$5,200,000) 9. Bids will be opened in the presence of the bidders' representatives, who choose to attend at the address below at 12:00noon 11th September, 2018. 10.The address referred to above is: Transmission Company of Nigeria – Project Management Unit (TCN-PMU) Conference Room 1, Attention: Engr. A. A. Gwadabe-Project Manager (WBP) No. 7, Hombori Street, Wuse 2, Abuja 900288, NIGERIA Tel: +234-808 028 8802, +234 808 028 8803 E-mail: tcnpmu@tcnpmu.ng & abugwadabe@tcnpmu.ng Website: www.tcnpmu.ng

T H I S D AY Ë¾ TUESDAY JULY 17, 2018

TUESDAY JULY 17, 2018 ˾ T H I S D AY

FOREIGN/DIPLOMATIC AFFAIRS

Editor: VINCENT OBIA vincent.obia@thisdaylive.com 0805 468 1757

In Brief Iran Takes US to ICJ Over Sanctions Iran has filed a complaint with the International Court of Justice (ICJ) to “hold US accountable for its unlawful re-imposition of unilateral sanctions,” Iranian Foreign Minister Mohammad Javad Zarif said on Twitter Monday. “Iran is committed to the rule of law in the face of US contempt for diplomacy and legal obligations. It’s imperative to counter its habit of violating int’l law,” the tweet read. Zarif did not expand on the claim it would bring before the ICJ, but officials have repeatedly accused the US of imposing illegal sanctions on Iran after pulling out of the Joint Comprehensive Plan of Action (JCPOA), known colloquially as the Iran nuclear deal, in May. Under the deal signed in Vienna with six world powers - the US, UK, France, Germany, Russia, China and the European Union - Iran scaled back its uranium enrichment programme and promised not to pursue nuclear weapons.

US To Consider Waivers on Iran Sanctions

President Donald Trump and Russian President Vladimir Putin at a joint press conference Monday. Photo credit: Yuri Kadobnov /AFP/Getty Images

Trump-Putin Chart Controversial Path to New US-Russia Relations The first formal one-on-one meeting of the two leaders kick-start ‘first steps’ towards mending ties, writes Vincent Obia

n the eve of the highly anticipated meeting between United States President Donald Trump and Russian President Vladimir Putin in the Finnish capital, Helsinki, Trump said he had “low expectations”. “I go in with low expectations,” Trump said a day after US Deputy Attorney General Rod Rosenstein announced the indictment of 12 Russians for their alleged interference in America’s 2016 presidential election. “I’m not going with high expectations.” But when he met with Putin on Monday, Trump seemed to expect that a more mellow tone would win his administration badly needed healthier relations with Russia. Trump said he had no reason to believe Russia meddled in the 2016 election, after holding a two-hour one-on-one meeting with Putin, saying, “I don’t see any reason” why Russia would have hacked Democratic computer servers. He hailed Putin as a “good competitor” and came down hard on special counsel Robert Mueller over the indictment of 12 Russians on Friday over allegations of involvement in the state-ordered interference in the US election, calling the inquiry “a disaster for our country.” Trump never hid his admiration of Putin throughout their 45-minute press conference in Helsinki. “Our relationship has never been worse than it is now; however, that changed as of about four hours ago, I really believe that,” Trump declared. “Today’s meeting is only the beginning of a longer process.

But we have taken the first steps toward a brighter future.” Putin effectively reciprocated Trump’s kind gestures, agreeing he, indeed, wanted Trump to win the 2016 election. Trump has been criticised by many in the US for publicly siding with Putin against his own intelligence agencies, which indicted Russians for alleged poll interference, and refusing to condemn Putin on any of the issues that have caused tensions between America and Russia in recent years. Director of National Intelligence Dan Coats quickly countered the president, saying in a statement that the US intelligence community has “been clear in our assessments of Russian meddling in the 2016 election and their on-going, pervasive efforts to undermine our democracy, and we will continue to provide unvarnished and objective intelligence in support of our national security.” The president’s overall friendly attitude to Putin and Russia during the press conference drew rebuks from both his traditional critics in the Democratic Party and his Republicans allies. In a statement on Monday, House Speaker Paul Ryan said, “The president must appreciate that Russia is not our ally” and that “there is no moral equivalence between the United States and Russia, which remains hostile to our most basic values and ideals.” Senate Foreign Relations Committee Chairman Bob Corker, a Trump critic, who had expressed reservations about the Helsinki summit, told reporters Monday, “I did not think this was a good moment for our country…the president’s comments

made us look as a nation more like a pushover.” Corker said of Putin, “I would guess he’s having caviar right now.” Many in the US feel their country has been politically weakened after the Trump/ Putin meeting. But Trump might have deliberately chosen to press the reset button in US-Russia relations, where Russia has seemed to be a victim. He certainly wanted to forget the past and focus on the future. In March, US triggered tit-for-tat expulsions of 60 diplomats each and closures of consulates between it and Russia. That was after the United Kingdom openly blamed Moscow for the poisoning of a former Russian double agent, Sergei Skripal, and his daughter, Yulia Skripal, on British soil on March 4. Russia denied any involvement. The US has upped arms supply to Ukraine in its confrontations with Russia, and imposed heavy economic sanctions on Russia. The American administration has maintained a tough line on Russia. And there is no evidence of any change in this attitude after the Helsinki summit. Many believe there is no alternative to good relations between the US and Russia, the two countries that are effectively behind most global tensions. Virtually all the major wars in the world today are proxy wars with Russia and US on opposite sides. Americans may be hurting over their president’s green line to the Russians, but the world would definitely be the greatest beneficiary of a cosy relationship between the two countries that have about 90 per cent of the world’s nuclear weapons.

U.S. Treasury Secretary Steven Mnuchin said in certain cases US will consider waivers for countries that need more time to wind down imports of oil from Iran, as it seeks to avoid disrupting global oil markets while re-imposing sanctions against Tehran. “We want people to reduce oil purchases to zero, but in certain cases if people can’t do that overnight, we’ll consider exceptions,” Mnuchin told reporters on Friday, according to Reuters. His comments clarified comments by some U.S. officials that there would be no exemptions. Mnuchin’s comments were embargoed for release on Monday as other U.S. officials were expected to begin talks in India this week on cutbacks in Iranian oil supplies.

Palestinians Demand Israel Return Bodies of Loved Ones Dozens of relatives of slain Palestinians held a rally on Monday calling on Israel to return the bodies of their loved ones. The protest in Ramallah took place before an Israeli Supreme Court session on Tuesday regarding the cases of 10 Palestinians killed by Israeli forces since 2015 whose bodies have not been returned. Under the slogan “we want our children back”, the mothers, fathers and relatives marched from Al Manara Square in downtown Ramallah holding up signs of their slain sons, chanting “freedom to our martyrs”. An organiser of the rally, Azhar Abu Srour, told Al Jazeera, “It is our right to get their bodies back and bury them. It is our right to know what happened to our boys.”

UK Junior Defence Minister Resigns British junior defence minister Guto Bebb resigned on Monday after voting against a government-backed amendment on the customs bill, part of plans for Britain’s exit from the European Union, BBC news reported. Bebb, minister for defence procurement, voted against the amendment that will stop Britain collecting tariffs for the European Union after Brexit unless there is a reciprocal arrangement. It was narrowly approved by parliament on Monday with the government’s support.

T H I S D AY Ë¾ TUESDAY JULY 17, 2018

TUESDAY JULY 17, 2018 ˾ T H I S D AY

NEWSEXTRA

Fashola: NERC Free to Cancel Discos’ Licences, Force Re-capitalisation Chineme Okafor in Abuja The Minister of Power, Works and Housing, Mr. Babatunde Fashola, yesterday affirmed that the Nigerian Electricity Regulatory Commission (NERC) has enough regulatory options to use against any of the 11 electricity distribution companies (Discos) that fails to meet up with the federal government’s recent order to improve on their services or exit the market. Fashola said in a Channels Television programme – Sunrise Daily, monitored by THISDAY in Abuja that the NERC was statutorily allowed to amend or revoke the licenses of the Discos, as well as force them to recapitalise their funding base to be able to do their jobs. He explained that any of the options the NERC chose to use to get the Discos to be responsive were within its statutory powers and conditions of the agreements the Discos signed with the government

during the 2013 power sector privatisation. The minister, however, noted that revocation of licences of the Discos should be the last resort for the regulator in this case, adding that with these options, the NERC could not be helpless in its enforcement of the Discos’ obligations to the market. While responding to a question on what he wanted the NERC to do with his order to it last week, Fashola said: “There are many things that NERC can do and one of the obligations and contracts between the BPE and the Discos are that certain number of meters will be supplied under contract is that’s a contractual obligation, and if the contractual obligation inures in my favour, I should be able to go and enforce it. “There are also statutory and regulatory obligations which are conditions for the grant of the licence by NERC to the Discoc. Under the terms of their license,

there are things they are supposed to do, and within the law, there are things that NERC as a regulator can and should do if a licensee is not fulfilling the terms of that license.” He added: “So, nobody in this system is helpless, whether the BPE or NERC. BPE is a contracting party, not the ministry of power, NERC is a regulatory authority, not the minister of power. For example, Sections 73 and 74 provide the NERC with very clear power to amend the license, to withdraw of revoke the license for non-compliance. That is NERC’s job to exercise its powers when it feels that certain things are not done.” He further explained: “But the exercise to withdraw a license is something that must be done

very reluctantly and only as a last resort in the ultimate public interest. There are other things that they can do, insist that they must recapitalise for example, and fund the supply of meter and distribution equipment to take power to the people. “The purpose of the briefing is to tell everybody to go and do your job. I don’t have issues with the Discos, I want them to take responsibility for their customers who call me all the time.” The minister also spoke on the controversy raised by President Muhammadu Buhari’s claims in June that the National Assembly had cut down some of the financial votes to key projects in the country in the 2018 budget, and which could impact the government’s execution of the projects.

He said he could work with whatever was given to him in the budget with the expectation that an excellent budget implementation could earn him more financial votes in subsequent budgets. According to him, “Budget disagreement is not unique to Nigeria, they are part of the areas of conversation between the executive and parliaments in many parts of the world. What they have done in some cases where they have been more successful is that they have to find compromise and consensus and as you see over the last three years, I feel that we are getting better. “If you cut a budget of any department, what will really happen is that the plans will be affected significantly or minimally

depending on the cut. If you cut your housekeeping budget, somethings will give obviously and therefore, you will become more inventive and creative and you will have to find ways to get done what can be done within the budget. “I think also, that whatever you give me, I will run with it and demonstrate what I can do and hope that in the next budget cycle you will be persuaded to give me more.” He also said repair of the Third Mainland Bridge would not take seven months as was previously reported, but that initial maintenance works would be done for three days, after which further repairs would be done based on the outcome of an assessment studies on the bridge.

We Do Not Owe Ansbury, Says Oando Oando Plc has described as false, the report that it had been ordered by the London Court of International Arbitration (LCIA) to pay Ansbury Investment Inc. $680 million, saying the calculated misinformation arose from a statement issued by the lawyer and legal counsel of Ansbury Investment Inc., Mr. Adrea Moja, following the LCIA’s ruling in London. According to a statement by Oando, the LCIA ruling follows months of arbitration on a loan repayment dispute between Oando PLC’s Group Chief Executive, Adewale Tinubu; the Deputy Group Chief Executive Omamofe Boyo, beneficial owners of Whitmore Asset Management Limited and Gabriel Volpi the beneficial owner of Ansbury Inc.

The statement added that the dispute dates back to 2017 when Gabriel Volpi allegedly attempted to breach a loan repayment agreement between him and Whitmore Limited in the British Virgin Island. Ansbury and Whitmore Limited incorporated a joint venture investment vehicle in the British Virgin Islands called Ocean and Oil Development Partners (OODP BVI). OODP BVI owns a 99.99 per cent stake in Ocean and Oil Development Partners (OODP Nigeria) who in turn owns 57.37 per cent stake in Oando PLC. Contrary to media speculations, the LCIA had infact ruled that OODP BVI which Gabriel Volpi owns a 60 per cent stake in should pay Ansbury (his own company) a total sum of $600 million while Whitmore pay Ansbury $80million.

CONSULTATION VISIT

R-L: Gombe State Governor, Alhaji Ibrahim Dankwambo; former Vice President and PDP presidential aspirant, Alhaji Abubakar Atiku and Director General , Atiku Campaign Organisation/former Governor of Ogun State, Otunba Gbenga Daniel, during Atiku’s consultation visit to Gombe State...recently

Buhari’s Invitation by ICC, an Indictment, Says PDP

Osinbajo: All Africa Targets Nigerian Market for Implementation of AfCTA

Onyebuchi Ezigbo in Abuja

Omololu Ogunmade in Abuja

The Peoples Democratic Party (PDP) has said President Muhammadu Buhari’s visit to the International Criminal Court (ICC) in Netherlands was a sign of reprimand for the spate of bloodletting, extra-judicial executions, illegal arrests, arbitrary detention, torture and reported disappearances in the country. The party asked the president to use his attendance of the 20th anniversary of the adoption of the ICC Rome Statute to report his administration to the court over documented human right abuses, crime against humanity and killings in Nigeria under his watch. In a statement issued by the National Publicity Secretary of the main opposition party, Kola Ologbondiyan, the party said the fact that President Buhari was the only head of state invited to the event showed that the world was particularly alarmed by the spate of bloodletting, extra-judicial executions, illegal arrests, arbitrary detention, torture and reported disappearances, as captured in the reports by the United States

Department of State, Amnesty International (AI) and Transparency International (TI). The PDP also noted that contrary to the effort by the presidency to present the invitation as positive for the Buhari presidency, the administration has a lot of questions to answer. “What the presidency seeks to hide from Nigerians is that the ICC Rome Statute deals directly with critical issues of crime against humanity, which is already prevalent in Nigeria under President Buhari’s watch. “The PDP recalls that it had earlier filed a petition at the United Nations (UN) against the Buhari administration over issues of human rights violations in our country,” it said. The party called on the ICC to take President Buhari to task on the documented abuse of human rights in Nigeria, particularly, the US Department of State 2017 Human Right Report, which catalogued issues of extrajudicial and arbitrary killings; disappearances and arbitrary detentions and torture, particularly in detention facilities in Nigeria under this administration.

Vice President Yemi Osinbajo yesterday in Abuja said Nigeria was not ready to take chances by hastily signing the African Continental Trade Agreement (AfCTA) because the country’s economy was the real target of the agreement. Osinbajo who made this remark at the quarterly meeting of the Presidential Enabling Business Environment Council (PEBEC) meeting in the Presidential Villa, said the entire Africa awaited Nigeria’s coming into the agreement because of the economic potentials inherent in the Nigerian market.

According to the vice-president, Nigeria is making extensive consultations because of suspicions that the agreement may cripple its manufacturing sector and simultaneously hamper the current benefits of agricultural revolution in the country. He also said whereas the general consensus seems to favour Nigeria’s participation in the trade agreement, there are yet concerns on the necessity to upgrade the business environment for virile competition, improve power supply and invest in infrastructure. “With respect to the AfCTA, there are clearly huge advantages for us, no question about it at all. The rest of Africa sees the

enormous advantage of Nigeria’s participation. Everybody is waiting for us naturally and that is because they see a huge market. There are advantages of our being there. But we must ensure to get the best possible terms for Nigerian trade and commerce. “Our experiences with dooming and other injurious practices make it obvious to us that our market could be a real target. Our local manufacturing could become unprofitable. Our agricultural advantage could be reversed. “Consequently, we have embarked on an extensive consultations with trade groups, manufacturers and organised labour in all the six geo-political

zones in other to get a clear sense of concerns as we navigate the process of signing the treaty. “I think the general resolve favours engagement but the concerns remain around improving the domestic environment for greater competitiveness, concerns of power supply and investment in infrastructure. I don’t think I will make a more eloquent case than the Minister of Power, Works and Housing has just made,” he said. Osinbajo who said this is the first time that Nigeria is actually involved in negotiations for a treaty, added that in the past, Nigeria only found itself in treaties without knowing how it got there or the benefits derivable from them.

ExxonMobil Faults Picketing of Its Ofﬁces by Former Staff Mobil Producing Nigeria (MPN), a subsidiary of ExxonMobil, has faulted the picketing of its offices by ex-spy policemen, who had provided security for the company. The company said in a statement yesterday that following the recent judgment of the Supreme Court, it has provided compensation packages

for the affected personnel. “The compensation packages cover all categories of affected personnel, including those in active service, and others who had already left the services of the company before the judgment. In addition, the company is also offering HR consulting services to assist with employment opportunities

with third parties. MPN typically retains security services through third parties who are best positioned to provide these core competencies,” the company explained. The company’s workers have been protesting the sack of spy police without entitlements. The workers, blocked the offices of

the company in Lagos and Eket in Akwa Ibom State chanting solidarity songs while displaying placards with inscriptions such as, “ExxonMobil sacked 860 Nigerian workers after over 22 years of slave labour,” “ExxonMobil, respect the rule of law”, “Supreme Court of Nigeria is higher than ExxonMobil.”

TUESDAY JULY 17, 2018 ˾ T H I S D AY

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FG: Executive Order 6 Constitutional Targets N595bn from 155 high profile corruption cases The federal government has defended the constitutionality of the Executive Order 6, signed by President Muhammadu Buhari on July 5, saying the president has

the power, under Section 5 of the 1999 Constitution as amended, which extends to the execution and maintenance of the Constitution, and all Laws made by the National

Crisis Hits Osun APC as Faction Suspends State Chairman, Secretary Suspension absolute nonsense, says party Party primary election holds Thursday Segun James in Lagos and Yinka kolawole in Osogbo Barely 72 hours to the primary election of the All Progressives Congress (APC) in Osun State, a faction of the party has suspended the state Chairman, Mr. Gboyega Famoodun, and the Secretary, Mr. Rasaq Salinsile. But the ruling party has described the suspension as ‘absolute nonsense’, saying those that announced the suspension have no constitutional rights to do so. However, the state governorship primaries of the APC will hold on Thursday, while the main gubernatorial election will take on September 22, 2018. The Integrity Group of the State Working Committee of the party in a statement signed by 87 members in all the 30 local government areas of the state and the area council in Ife, announced the suspension of the APC chairman and the scribe. According to the group, Famoodun sent a message to the 16 members of the State Working Committee (SWC) of the party on July 13, 2018, to sign a resolution that direct method of primary should be adopted for the party’s July 19 primary election. “The chairman further directed members of the SWC to go and sign the purported resolution at the private law office of the state’s Attorney General and Commissioner for Justice, Dr. Ajibola Basiru. The group stated that 11 out of the 16 members refused to comply with the directive because they were of the opinion that no meeting was held on March 14 where the purported resolution was allegedly made. The group alleged that some members of the SWC were being coerced to sign the resolution, while the state chairman and the secretary were also planning to sign for any member that refused to sign the resolution.

However, a statement signed by the Director of Media and Publicity of the party in the state, Mr. Kunle Oyatomi, said “the APC is calling on all loyal and faithful members of the party to discountenance frivolous statement made by a few disgruntled members of the state executive who are saying that the party chairman in the state, Prince Gboyega Famodun and the State Secretary, Alhaji Rasaq Salinsile, have been suspended from the party. “That statement is absolute nonsense. They have no such right constitutionally to say what they have said and their purpose is purely anti-party. Obviously, these members have other interest to protect than what the party stands for. “The public as well as our members should be informed that the APC is solidly behind our leadership and nothing of the sort is happening inside our ranks. We are absolutely certain that fifth columnists within the party, who feared they could lose out in the coming primary exercise are trying to introduce confusion into our ranks. But they will fail woefully. Meanwhile, the Osun State Chapter of the Peoples Democratic Party, PDP, has condemned the ‘acts of violence’ unleashed on some journalists by thugs allegedly loyal to a faction of the All Progressives Congress (APC), at a popular hotel in Osogbo, the state capital. The party, in a statement signed by its Publicity Secretary, Hon. Sunday Bisi, said the violent attack was sequel to the purported suspension of the state APC Chairman, Gboyega Famodun and the State Secretary, Rasaq Salinsile, by a faction of the party leadership. The PDP said it was rather unfortunate that the APC would resort to such acts of violence on members of the fourth estate of the realm who were only performing their duties as guaranteed by the Nigerian constitution.

NBM to Discuss Environment Sunday Okobi The 40th annual national convention of a non-governmental organisation, Neo-Black Movement of Africa (NBM), which is scheduled to commence from July 19 to July 22, 2018, in Ijebu-Ode, Ogun State, will be hinged majorly on environmental issues in Nigeria, the group has stated. The group will also hold its 14th annual lecture at the convention with the theme: ‘The Role and Impact of Security in Nation Building’. As part of the celebration, the pan African organisation will be

campaigning on the environmental friendly way of using plastics in the state. The National President of the organisation, Felix Kupa, in statement made available to THISDAY, said the lecture is largely driven by an urge to avoid unnecessary wastage and to protect the physical surface of the communities, which will require large scale and sustained collective effort, decrying that “environmental issues seem not to be a priority for many people compared to more immediate concerns in their day-to-day lives.

Assembly, including but not limited to Section 15(5) of the Constitution, to abolish all corrupt practices and abuse of power. The Minister of Information and Culture, Alhaji Lai Mohammed, who disclosed this to journalists in Lagos last Sunday, said the order would affect 155 high profile corruption cases with the aggregate value of N595,409,838, 452.25, which he said was higher than the N500 billion allotted to the administration’s Social Investment Programme and the N344 billion allocated for the construction and rehabilitation of roads nationwide in the 2018 budget. Mohammed further argued that President Buhari was not the first democratically-elected president to issue Executive Order, adding that former Presidents Shehu Shagari and Olusegun Obasanjo issued Executive Orders. According to him, in 1980, President Shagari issued an Executive Order to modify the Public Order Act,

stressing that Shagari’s action was unsuccessfully challenged in the court by the governors of Ogun and Borno States. Mohammed added that in 1999, the then President Obasanjo issued Executive Orders to abolish the Petroleum Trust Fund (PTF) and to proclaim May 29 as Democracy Day. Mohammed added that when the Vice President, Prof. Yemi Osinbajo, acted as President, he also issued Executive Orders for the Ease of Doing Business and for the expeditious issuance of international passports in all the Nigerian embassies, adding that no one questioned the constitutionality of such orders. He said the Executive Order 6 of 2018 was aimed at restricting “dealings in suspicious assets subject to investigation or inquiry bordering on corruption in order to preserve such assets from dissipation and to deprive alleged criminals of the proceeds

of their illicit activities, which can otherwise be employed to allure, pervert and/or intimidate the investigative and judicial processes”. “This is the administration’s most potent weapon against corruption to date! Expectedly, there have been pockets of opposition to this Executive Order. Those opposed to it say it is unconstitutional, dictatorial and amounts to the usurpation of the powers of the legislature and the judiciary,” Mohammed said. “The truth is that, having realised the potency of the Order in giving muscle to the fight against corruption - which by the way is one of the three cardinal programmes of our administration – the corrupt and their cohorts have become jittery. They have every reasonto be. Henceforth, it won’t be business as usual,” he added. The minister stated that the current administration considers

the war against corruption a mustwin for Nigeria, adding that in the words of the President Buhari, “if Nigeria does not kill corruption, corruption will sooner or later kill Nigeria.”. “That is why the President has declared a national emergency on corruption,” he added. “For those who claim that the Executive Order Number 6 is dictatorial, it is clear they have not even read it. Section. 3 (i) of the Order, which states that any person who alleges that his rights have been violated, are being or are likely to be contravened by any of the provision of this Executive Order may apply to a competent Court in his jurisdiction for redress,” Mohammed said. He stated that past and present Presidents of the United States, after which Nigeria’s presidential system of government was fashioned, have been issuing Executive Orders since the time of the country’s first President, George Washington.

INAUGURATION

L-R: Lagos State Commissioner for Physical Planning and Urban Development, Mr. Rotimi Ogunleye; former Chairman, Nestle, Chief Olusegun Oshunkeye; Founder/CEO, Home and You Furniture, Mrs. Feyisola Abiru and her husband/Managing Director, Skye Bank, Mr. Adetokunbo Abiru, and Executive Director, Bank of Industry, Mr. Waheed Olagunju, during the inauguration of the ultra modern furniture factory at Owode Ibese Road, Ikorodu, Lagos...recently Kolwole Alli

Kwara APC Berates Nabena over Comments on Saraki Hammed Shittu in Ilorin The All Progressives Congress (APC) in Kwara State has berated the Deputy National Publicity Secretary of the party, Mr. Yekini Nabena for attacking the Senate President, Dr Bukola Saraki. The party in a statement by its state Chairman, Alhaji Isola Balogun Fulani yesterday warned Nabena to stay within the mandate of his new position, and stop his campaign of uninformed comments against Saraki. The local chapter of APC was reacting to a statement credited to Nabena calling on Saraki to declare his stand on the reformed R-APC.

The party asked the national deputy publicity secretary to clarify if he was speaking on behalf of his superiors in the APC National Working Committee (NWC) or he was running errand for some faceless mischievous elements who are his paymasters. “The Kwara APC has taken note of the immature display of lack of decorum by one Yekinni Nabena in a statement he issued today calling the Senate president names. Nabena needs to first clarify if he was speaking on behalf of the National Working Committee of the APC or representing some faceless mischievous elements who are his paymasters.

“Instead of embarrassing himself with his meaningless diatribe that demonstrates his lack of decorum and immaturity for the position he has accidentally found himself , Nabena should focus on understanding what his current position entails,” the statement said. “This is necessary because his preparedness and capacity have definitely been called into question by his antics. He definitely cannot use Saraki’s name to get cheap popularity and buy relevance. At the right time, our leader, the Senate president, who remains one of the founding fathers of the APC and a deciding factor in our national politics today, will make his decision

known to the whole world when he is ready,” the statement added. The Kwara APC added that, “as a grassroots politician who believes in carrying everyone along and works in the best interest of the people at the State and national levels, Saraki does not owe an unknown factor like Nabena any response or explanation. “Instead, at the right time, I am sure that his friends, supporters, associates, all Nigerians and the entire world will know where he stands on issues regarding 2019 elections. Saraki that we know does not hide to play his politics. He plays in the open,” the party said.

Group to Organise Executive Development Programme TEXEM UK will be organising an executive development programme aimed at helping senior executives develop requisite leadership quotient from July 18-19, at Eko Hotel and Suites, Victoria Island. According to a statement made available to THISDAY

by the Chief Executive Officer, Texem UK, Dr. Alim Abubakre, it was noted that delegates would develop competence in forging strategies that create a competitive edge in turbulent times. The statement also noted that participants would become more aware of their

leadership style, strengths, blind spots and how to effectively inspire diverse stakeholders and develop actionable frameworks for stimulating superlative, individual and organisational performance. Abubakre in the statement added: “Worldrenowned Professor Rodria Laline

(Visiting Professor at Harvard, Insead and IESE and Chair of Intrabond Capital) and Adviser to the Prime Minister of Netherlands would deliver this programme, titled Developing and Leading High-Performance Organisations for Superlative.”

TUESDAY JULY 17, 2018 ˾ T H I S D AY

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Buhari Seeks Improved Relationship With Legislature Legislative arm misunderstood, says Saraki Deji Elumoye and James Emejo in Abuja President Muhammadu Buhari yesterday, expressed worry over

the recurring controversy between the executive and the legislature, stressing that there was no evidence of collaboration, leading to the passage of the 2018 Appropriation

Compulsory Retirement: Court Fixes Date to Decide Ex-DSS Spokesperson, Ogar’s Fate The National Industrial Court in Abuja, yesterday fixed October 15 to deliver judgment in a suit filed by a former spokesperson of the Department of State Services (DSS), Marilyn Ogar, challenging her compulsory retirement. The judge, Justice Olufunke Anuwe, fixed the date after listening to the counsel who adopt their submissions. Joined in the suit are the Attorney- General of the Federation (AGF) and the Director-General of the DSS. Ogar’s counsel, Adeola Adedipe, prayed the court to among other things, declare that her retirement was illegal and nullify her demotion from deputy director to assistant

director. Counsel to the AGF, Uche Anidobi, on her part, asked the court to discountenance the prayers of the claimant and dismiss the suit for lack of merit. In his submission, Jamilu Hamisu, counsel to the DSS, prayed the court to strike out the matter for being “unmeritorious.” Ogar was retired alongside 14 other officers in 2015, seven years before she was due for retirement. The DSS at present has no identifiable spokesperson. Five other officers are also challenging their alleged compulsory retirement before the same judge.

Adherence to rule of law crucial for democracy, Dogara insists

Bill by the National Assembly. He said a stronger relationship between both arms of government was inevitable in the interest of the country. Speaking at the opening of the maiden Open Week of the National Assembly, Buhari, who was represented by the Secretary to the Government of the Federation (SGF), Mr. Boss Mustapha, however, expressed hope that the open day would afford Nigerians the opportunity to discuss the process of over-sighting role of parliament with a view to fine-tuning it. The president also stressed the need for both the executive and legislature to be determined in working closely while respecting the rule of law. He said Nigerians must stand against corruption; so, “it does not deny us our bright future.” Buhari also charged participants to seize the opportunity to discuss

the present security challenges confronting the country with a view to proffering lasting solutions. Speaking earlier, Senate President, Dr. Bukola Saraki, expressed concern over the public misconception of the legislative arm of the government. Saraki said he was concerned that the legislature was the most misunderstood because of its being the youngest of the three arms of government. He said this was due largely to an abiding misconception as to the role of the legislature and its role to stabilise democracy and ensure accountability in governance. Saraki therefore, expressed hope that the Open Week would go a long way towards helping to deepen the public understanding of the very real, indispensible work done by lawmakers, in line with their constitutional mandate. On his part, the Speaker of the House of Representatives, Hon.

Yakubu Dogara, insisted that all arms of government must adhere strictly to the tenets of rule of law and separation of powers to function effectively in modern democracy. He said this had become crucial in order to check tyranny and secure the liberty of citizens. According to him, any leader who does not understand the cardinal principles of democracy should have no business leading a democratic dispensation. The speaker said all the three arms including legislature, executive and judiciarywere designed to work in an orderly, synchronised and complementary form for development to really thrive, adding that this could however, be only achieved if the foundational principles of democracy were preserved. According to him, the

Parliamentary Open Week was a response to the Declaration of Parliamentary Openness at the World e-Parliament Conference in 2012, which prevailed on the world’s parliaments and legislative assemblies for an increased commitment to transparency, openness and citizens’ engagement. He added that the Nigerian parliament had all the while been considerably open through its robust interface with citizens during committees’ public hearings, oversight functions, websites and through effective coverage by the print and electronic media, including live streaming and coverages of the sittings of the Senate and that of the House of Representatives. He said what was needed now, was to up the ante in all platforms to further engage with the people in the spirit of the Declaration of Parliamentary Openness.

Hoodlums Attack, Injure Taraba CP Wole Ayodele in Jalingo Taraba State Commissioner of Police, Mr. David Akinremi, was yesterday attacked by hoodlums suspected to be members of a cult group and injured him in the process. Akinremi had gone to Tudun Wads and Gadan Boboji areas of Jalingo to personally restore normalcy following reports that youths in the area were causing serious unrest in the town, but on arriving at the area, he was attacked by the youths who pelted him with stones and other dangerous weapons. In the process, he was hit on the head by a very big stone, which left a very deep cut on his head and he had to be rushed to the police clinic where he was treated and later discharged. The Taraba State Police Command’s Public Relations Officer (PPRO), ASP David Misal, who confirmed the incident to journalists said the command is on the trail of the perpetrators saying they would be made to face justice. According to him “Yesterday, some irate youths armed with dangerous weapons, including

cutlasses, axes and other objects started disturbing the peace of residents around Tudun Wada and Gadan Boboji areas of Jalingo town. “Our men were deployed there and normalcy returned. However, this morning we got reports that the boys had come out again in large numbers brandishing these weapons and the situation was so bad that the CP decided to go there himself with other officers. In the course of addressing the youths to calm them down, he was stoned in the head and was immediately rushed to the hospital where he was treated of his injuries. “For now, he has been discharged and is taking his rest at home. As we speak, a serious operation is going on there to calm the situation and forestall further breakdown of law and order in the area. “I can assure you that the command would make sure that normalcy is completely maintained in the area and the perpetrators of this crime are brought to book. Several arrests have been made already and thorough investigation would be carried out,” he said.

Olupona Wins Award Renowned author and Professor of African Religious Traditions, Jacob Olupona, has won the 2018 Martin E. Marty Award for Public Understanding of Religion. In announcing the award, Executive Director of the American Academy of Religion, Alice Hunt, noted that “the award recognises extraordinary contributions to the public understanding of religion by individuals whose work has relevance and eloquence that speaks, not just to scholars, but more broadly to the public as well.” Olupona is the author of five

books and editor of six others. His research ranges across African spirituality and ritual practices. In detailing religious pluralism in Africa and African diasporic communities in the Americas, his focus includes the less-studied missionaries from Africa who have come to the United States to establish churches. Founded in 1909, the AAR is the world’s largest association of religion scholars with some 8,000 members in North America and abroad. Its mission is to foster excellence in the academic study of religion and enhance the public understanding of religion.

ENDORSMENT MEETING

L-R: All Progressives Congress’ governorship aspirant for Osun State/Publisher Nigerian NewsDirect, Dr. Samuel Ibiyemi; Another APC governorship aspirant/Chief of Staff to Governor Rauf Aregbesola, Alhaji Gboyega Oyetola and the Director General, Oyetola Campaign Organisation, Hon. Israel Ajibola Famurewa, after the withdrawal of Ibiyemi for Oyetola in Abuja…recently

N3.2bn Fraud, Kalu, Others Oppose EFCC’s Amended Charge The former Governor of Abia State, Chief Orji Uzor Kalu, yesterday, urged a Federal High Court in Lagos to discountenance the second amended charge filed against him by the Economic and Financial Crimes Commission (EFCC) over alleged N3.2 billion fraud. Also urging the court to dismiss the said second amended charge are Kalu’s company, Slok Nigeria Limited and his former Commissioner for Finance, Udeh Jones Udeogu. Kalu and other defendants are standing trial before Justice Mohammed Idris, who has being elevated to Court of Appeal, on charges bordering on alleged fraud of N3.2 billions from Abia State Government’s treasury between

2001 and 2005. They were also alleged to have used the following banks to perpetrate the alleged fraud, Manny Bank, Spring Bank Plc, the defunct Standard Trust Bank and Fin Land Bank, now First City Monument Bank (FCMB). At the resumed hearing of their matter today, the defendants through their lawyers: Professor Awa Kalu, Chief SoloAkume and Chief Kingsley Nwofo, all Senior Advocates of Nigeria (SANs), told the court to struck out the second amended charge, as the prosecution failed to formally apply to court before filing same. In urging the court to strike out the second amended charge,

Kalu’s lawyer, Kalu said: “We have a motion against the second amended charge brought by the prosecution. The motion is dated June 5, and filed on June 12, 2018. It has four reliefs, and its supported with a 16 paragraph-affidavit, and a written address also dated June 5. “We also submitted that the prosecution’s counter-affidavit does not supply the issues raised in our application. We therefore urged the courttostuckouttheprosecution’ssecond amended charge.” In the same vain,Akume lawyer to Jones, told the court that what he filed in response to the prosecution’s second amendedchargewas a written address wherein he vehemently opposed the second amended charge. And

urged the court to dismiss the charge in entity. Akume told the court that it is on record that the prosecution did not formally applied to court before filing the amended charge, saying that the prosecution did not act according to section 216(1) of the Administration of Criminal Justice Act ACJA (2015), which made it mandatory for a formal application before any amendment can take place. He described the second amended charge as incompetent and should be dismissed. Also lawyer to the Kalu’s company, Slok Nigeria Limited, urged the court to strike out the charge against his client for non-conformity the ACJA.

Meseko Congratulates Fayemi, LaudsYahaya Bello’s Role Yekini Jimoh in Lokoja Chairman, Reconciliation Committee of the All Progressives Congress (APC), Kogi State, Hon Duro Meseko, has congratulated Dr Kayode Fayemi, on his victory in the Governorship election of Ekiti State describing it as a good omen for the party.

In a statement issued yesterday, Meseko said with this victory, Ekiti people have decided to embrace progressive governance from the stables of the APC. He lauded the role played by the Governor of Kogi State, Alhaji Yahaya Bello in the election through massive mobilisation of Kogites in Ekiti to vote for Fayemi describing

it as incredible. “My colleagues on the Reconciliation Committee of APC in Kogi State and i are so elated with the victory of our party in Ekiti and we unreservedly congratulate our candidate, Dr Kayode Fayemi on his election. “We are also not unmindful of the yeoman,s role of our Governor,

Alhaji Yahaya Bello which helped in no small measure to ensure victory. He ensured he mobilised all Kogites in Ekiti to vote for progressive government and the result is here for all to see”. Meseko urged Fayemi,s opponents in the election to be good sportsmen by congratulating him.

TUESDAY JULY 17, 2018 ˾ T H I S D AY

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Ekiti Election: Fayose Says PDP Will Laugh Last Condemns Buhari for using security agents to rig election Fayemi carrying a stolen mandate, says main opposition party Iyobosa Uwugiaren in Abuja and Victor Ogunje in Ado Ekiti Apparently recovering from the shock of the Saturday’s defeat of his party, the Peoples Democratic Party (PDP), in the Ekiti State governorship election,

Governor Peter Ayodele Fayose yesterday, condemned President Muhammadu Buhari for allegedly using the security agents to rig the election in favour of his party, the All Progressives Congress (APC) and declared that the PDP would laugh last. Also, the state chapter of the PDP

Alleged Certiﬁcate Fraud: Renounce or Resign, BudgIT Tells Adeosun Peter Uzoho On the heels of the alleged forgery of the National Youth Service Corps (NYSC) exemption certificate by the Minister of Finance, Mrs Kemi Adeosun and her apparent refusal to speak up and clear the air, a civil tech organistion, BudgIT Nigeria, has called on the minister to “renounce the allegation or resign” from her appointment as minister. In a statement issued yesterday, which was signed by its Communications Lead, Abiola Afolabi, and made available to THISDAY, BudgIT expressed disappointment at the minister’s silence over the alleged forged certificate, saying while many concerned citizens awaited a comprehensive response from the government official, there has been no rebuttal from the accused and also no conclusive position from the National Youth Service Corps. The statement read in part: “In an investigative report released by Premium Times, Mrs. Kemi Adeosun was accused of skipping the compulsory one-year national youth service and presenting forged exemption certification to the National Assembly. We also notice recent reports that the minister released N10 billion for the National Assembly to settle liabilities, a fund that ended up in the purchase of exotic vehicles for the legislators. “As an organisation with interest in transparency and accountability, we believe it is dangerous to put public funds in charge of a person that can be easily blackmailed by individuals. We also accept that towards the 2019

elections, Nigeria needs to have a person of right character to lead its Finance Ministry, considering how public treasury can be easily shortened to satisfy political interests. “The Buhari administration has often opined its commitments to weed out corruption and other related vices but we find the silence an antithesis to such disposition. We find the certificate saga an indictment on the capability of the Ogun State House of Assembly, Department of State Services (DSS), National Assembly and National Youth Service Corps. We affirm that Nigerian institutions are being compromised on the altar of political expediency and the “Change” mantra as advanced by the current governing party is gradually a trite phrase.” It further said: “The current issue is an example of gross misconduct within the cabinet of an administration that prides itself on integrity. We call on President Buhari to take appropriate actIon regarding this and also for the Honorable Minister to provide a response to the allegations. Without a convincing response to this ignoble situation, we call on Ms. Kemi Adeosun to resign from her position as the Honorable Minister of Finance of the Federal Republic of Nigeria and accept the consequences of her actions as stated in the law. “We affirm Ms. Kemi Adeosun poses a risk to the treasury with alleged unauthentic documents which she has used to function as the Ogun State Commissioner of Finance and Honourable Minister of Finance. BudgIT looks forward to expedited resolution of this matter.”

has said the mandate given to the candidate of the APC, Dr. Kayode Fayemi in the state governorship election was a product of ‘poll robbery’. ‘’The president should bury his head in shame for using the police, army, Nigeria Security and Civil Defence Corps (NSCDC) and the Independent National Electoral Commission (INEC) to snatch the mandate given to Olusola (PDP candidate) and deliver it to Fayemi (APC candidate) whom Ekiti people rejected”, the out-going governor stated for the first time, since the election on Saturday. In several tweets in his tweeter handle on yesterday: @ GovAyoFayose, he added, “On this Ekiti election, President Buhari demonstrated truly that he is not a democrat, but a dictator and fascist per excellence. The President should note what the Bible says which applies to him: He that wears the armour should not boast as he that removes it.” Governor Fayose said he held his head high and would never be suppressed, saying he does no’t lose battles, adding that he would not lose the current

one, and that by the power of God, he would laugh last. Apparently responding to the presidential spokesman, Garba Shehu’s recent media statement on the election, the governor filed back at him, saying ‘’He (Shehu) was in the presidency courtesy of Atiku Abubakar for eight years and came back for this current dispensation still courtesy Abubakar. Now, he has abandoned the person who brought him to the limelight.’’ ‘’As for me, I am Peter Ayodele Fayose, I hold with my head high. I can never be suppressed. I don’t lose battles and I will not lose this. By the power of God, I will laugh last. If APC truly he won, why was it that there was no jubilation in Ekiti ? That victory of Kayode Fayemi is pyrrhic; we will reclaim the stolen mandate in the court, by the power of God.’’ The state chapter of the PDP has also assured that it would deploy every constitutional means to retrieve what he called a ‘ stolen mandate’ from Fayemi, disclosing that the party would challenge the election in court. PDP added that it was not embarrassed by the congratulatory message sent by former President Olusegun Obasanjo to Fayemi on

his victory, saying that was what was expected from an elder statesman. “We are not embarrassed and we can’t join issue with Chief Obasanjo on that. When a young man became successful, the elders will congratulate him. But the former president will soon change when he realises that Fayemi actually stole the victory”, it said. Addressing journalists in Ado Ekiti, the state capital, yesterday, on the outcome of the election, the party’s state Chairman, Mr. Gboyega Oguntuase, accused the INEC and the security agencies of conspiring to subvert the will of the electorate. Oguntuase said over 20 members of the party, including the Chief of Staff to the Governor, Chief Dipo Anisulowo and four of his aides, among others, were arrested by the combined forces of military and paramilitary security outfits and clamped into detention on the day of the election. He described the governorship poll as an embarrassment to democrats across the globe, saying the APC governors spent huge amount that could have been used to develop their states. He said: “What did they

need 30,000 police officers for in Ekiti State when criminals were killing Nigerians in other states? Ekiti people knew they were in our state for a task and not to protect their votes and that was why there was no jubilation or ceremony anywhere in the state after the election. This election was far from being free, fair and credible. In Ilejemeje, Ilawe, Ikole, Ise/Orun , Oye , Ado and other major towns in Ekiti , many of our people were beaten by APC thugs being aided by the security men. “As we speak, the results declared by INEC to give victory to Fayemi was more than the number of accredited voters. So, where did they get the additional votes they added,” he queried. “We are going to use every constitutional means to retrieve this stolen mandate, it is just a matter of time. “APC mobilised over N11 billion to buy votes in Ekiti. They came here to perpetrate electoral perfidy and such will not stand”, he stated. Oguntuase stated that the federal government deliberately delayed June allocation to Ekiti to create the impression that Fayose was owing salaries and to sway votes for APC.

Kassim: Why We Appointed Modu NEC MEETING Sheriff DG of Buhari’s Campaign L-R: Zamfara State Chairman, Independent Democrats, Mr. Abubakar Dankande; National Chairman, Independent Democrats, Mr. Edozie Madu; and Borno State Chairman of the Party, Alhaji Rufai Monguno, during the 9TH National Executive Committee meeting of the party Group in Abuja..recently The Presidential Support Committee (PSC) of Buhari 2019 has said the appointment of former Borno State Governor, Ali Modu Sheriff, as its Director-General was done in the best interest of the party. The National Secretary of the group, Kassim Kassim, gave the explanation in a statement yesterday in Abuja. Kassim said the conglomerate of about 300 Buhari supporters groups unanimously endorsed Sheriff to lead the Presidential Support Committee, Buhari 2019 and not the Buhari’s Campaign Organisation for the 2019 election. He said groups that made up the Presidential Support Committee were all registered with the office of the Senior Special Assistant (SSA) to the President on Political Matters. The appointment of Sheriff, a former national chairman of the opposition PDP, was denounced by

the Buhari government through the office of Secretary to Government of the Federation. Kassim said the aim of the group was to complement what the campaign organisation was doing following the recent crises that befell the All Progressives Congress (APC). He said that to ensure accessibility, all groups working for President Muhammadu Buhari since 2003 came together to complement and support what the campaign organisation was doing by nominating Sheriff. According to him, Sheriff joined the party with the sole aim of delivering victory for President Buhari in 2019. Kassimnotedthatthegroup’smission was being misunderstood by the public andthepresidencytomeanthatSheriff’s committee was to compete with the campaign organisation headed by the Minister of Transportation, Rotimi Amaechi.

RVSG to Joe Igbokwe: Name Supreme Court Justices Wike Bribed Rivers State Government has challenged the Publicity Secretary of the Lagos State chapter of the All Progressives Congress (APC) to be bold enough to name the Supreme Court Justices he said that Governor Nyesom Wike bribed. In a Facebook post July 16, 2018, Joe Igbokwe wrote: “Wike will not have the audacity and the temerity to kill again in Rivers State and run to Supreme Court to buy justice. It will never happen again in Nigeria where Buhari is the president!” However, in a swift reaction, the state government through the Commissioner for Information and Communications, Emma Okah,

described Igbokwe’s comments as satanic and a product of a demented brain designed to ridicule the Supreme Court of Nigeria and desparage the entire judiciary. He asked the APC spokesman to within seven days name the Supreme Court judges Wike gave money or the persons killed, otherwise he would hear from the state government. “It takes one whose vision of reality is distorted to disgrace the Supreme Court and paint the nation’s judiciary black in a bid to bring down a sitting governor whose only offence is that he has asked that things be done right in Nigeria.

“Certainly Joe Igbokwe belongs to the axis of evil that sees nothing wrong in the killing of fellow Nigerians, especially his kinsmen and that is why he carelessly brands a governor as a killer even without any iota of evidence,” Okah said. According to him, “responding to Igbokwe who talks before he thinks belittles our dignity as a government but reluctantly, we have taken this opportunity to berate him so that Nigerians will appreciate the devastation such ungodly comments bring to a revered national institution like the Supreme Court. “Igbokwe and his sponsors in their hallucinations cannot come to terms that Governor Nyesom Wike

has remained the conscience of Nigeria’s democracy and delivered more projects and dividends than any governor since 2015. “It is for this reason that his base and malicious reference to Wike as a killer remains worthless and empty. “Irrespective of what happened in Ekiti State last Saturday, Igbokwe has no moral justification to insult Governor Wike in the reckless manner that he did without provocation. “In the event he fails within seven days to name the Supreme Court justices he said Wike gave money or the persons killed by the governor, Joe Igbokwe will hear from us,” Okah said.

˜ ͹Ϳ˜ ͺ͸͹΀ ˾ T H I S D AY

TUESDAYSPORTS

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

POST W O R L D C U P 2 0 1 8 …

FIFA Shortlists Ahmed Musa’s Goal Among the Best at Russia 2018 Femi Solaja Super Eagles pacy winger, Ahmed Musa, is in contention for the ‘best goal’ of the World Cup finals which was rounded up last Sunday in Moscow. With FIFA’s launch of a poll yesterday to pick the best of the 169 goals scored at the Russia 2018 World Cup, Ahmed Musa’s classy goal,

the second against Iceland at Volgograd has been shortlisted among the tournament’s best 18 goals. The speedy and mercurial Musa, who started the match as against bench role in the opening match against Croatia, has a great opportunity to put himself in the record books if his goal is eventually picked as the best. The goal contending to

be the best for Russia 2018 was scored in the 75thminute. It was a fine individual effort as the Vice captain of Super Eagles outpaced Iceland’s Kari Arnason before rounding Goalkeeper Hannes Halldorsson who sprawled helplessly on the turf to double Nigeria’s lead in the classic encounter and was eventually voted as the ‘Man of the Match’ and put the country back in contention

to qualify from the group which Nigeria later relinquish to Argentina in the last group D match at Saint Petersburg. Musa got himself composed before firing into the net. It’ was his fourth goal in two World Cup matches having achieved a brace against Argentina at Brazil 2014 thus making him the second African player to score two World Cup braces, after Roger Milla in 1990.

It is even still a big surprise that his first goal against Iceland did not make the cut. It was another superb goal good enough for exhibition on television. Musa controlled Victor Moses’ cross with one touch, setting himself up for an unstoppable half-volley with his second. The huge crowd at the Volgograd Arena rose in salute for the master piece of a goal.

Now, Musa’s shortlisted goal is contesting with 17 others scored by notable players like Lionel Messi, Cristiano Ronaldo and Germany’s Toni Kroos among others. The poll presented by Hyundai will be open for a week till Monday. Nigeria with its huge population can help Musa achieve success by voting for his goal which is listed ninth among the 18.

France’s Top Honour for World Cup Winners France’s victorious World Cup team in Russia is to receive the country’s highest accolade, the Légion d’Honneur, the French presidency announced yesterday. France defeated Croatia 4-2 in the football final in Moscow on Sunday - its second World Cup win in 20 years. Crowds of fans lined the Champs-Elysées in central Paris to give the team a heroes’ welcome. The players will be honoured with a parade on the capital’s main artery and a Presidential Reception. The World Cup winners, who have now landed back in Paris, will take an open-top bus along the avenue later yesterday. Captain Hugo Lloris and coach Didier Deschamps were the first to emerge

from the plane, raising the competition’s golden trophy to the cheering crowds of fans who gathered to greet them. Fans partied across France overnight, but celebrations in some cities were marred by violence. Police fired tear gas as sporadic clashes broke out in Paris, Lyon, Strasbourg and Rouen. Dozens of youths broke into a shop on the ChampsElysées and stole wine and champagne. But the national mood was one of joy, and Paris transport company RATP said it was celebrating the success of Les Bleus by renaming some stations after the victors. They include Victor Hugo Lloris, after the team’s captain and goalkeeper, and Deschamps-Elysées, in honour of the coach.

Mbappe Donates All World Cup Bonuses to Charity Duro Ikhazuagbe

France forward. Kylian Mbappe is reported to have donated all the allowances and bonuses he earned at the 2018 World Cup in Russia to charity. The PSG star who emerged the Young Player of my the Mundial at 19 years was reported by French newspaper L’Equipe to have made the pledge to donate his earnings expected to be in the region of $500,000 to charity as a way of giving back to the society. While many African players engage their football federations in endless squabble over bonuses, it is Mbappe’s that he should not be paid to wear the French national jersey. He sees representing the country as a national honour which informs why he’s donating all his earnings in Russia to charity. Before arriving in Russia he was a superstar and now a megastar as World Cup winner with France. The France forward is on the verge of the biggest payday of his career after leading his nation to a World

Cup victory, now he’s already looking at giving back. L’Equipe reported Monday that Mbappe had already informed the charity Premiers de Cordée back in April that he planned to donate his paycheck to the organisation. Now he’s announcing that not only will his paycheck go to the charity, but also his bonus, which all players earned as a result of making it to the knockout round. Premiers de Cordée brings sports to hospitalized children and runs disability awareness campaigns in French schools and businesses. L’Equipe said that other members of the French team could follow suit after learning of Mbappe’s generosity. Ths isn’t the first charitable work Mbappe has done around the World Cup. Ahead of the event he paid for 25 students from the Jean-Renoir College in Bondy to take a trip to Russia for the event. Mbappe, who joined PSG for a fee of around £166m from Monaco after a seasonlong loan, was one of the French success stories from this World Cup. He ended up with four goals from the tournament.

Super Eagles striker, Ahmed Musa celebrating his second goal with Etebo in the 2-0 win against Iceland at the World Cup ﬁnals in Volgograd, Russia. PHOTO ABIODUN AJALA

Football Lovers at Kwese La Liga Leads the Way as France Top the World Football Fans Arena Adopt Les Bleus When the phrase “Our Distant Cousins are Champions” was first uttered there might have been confusion as to what the young man who chanted it was talking about, but it did not take 60 seconds at the Kwese Football Fans Arena Port Harcourt, before it dawned on the Football lovers present what he was really talking about. Yes the distant cousin from across the Sea as you may have guessed by now is new World Champion, France. How did France become Nigeria’s distant cousin you may ask, when geographically as the “Crow Flies” Paris is some 4720 kilometers away from Lagos Nigeria. The French team has a lot of players with African ancestry, especially golden boy Kylian Mbappe who is actually of Nigerian descent, this is reason enough for Nigerians to support France. But the real reason Nigerians especially threw their weight behind the French national team is because they duly avenged Nigeria by sending Argentina home from the tournament. As France swaggered its way through the mundial with swashbuckling performances to

finally become crowned ‘world champions’ after 20 years, they had the full support of the Nigerian fans at the various fan parks across the country with supporters painting their faces in blue, red and white colors whenever the French team played. Football enthusiasts and part time supporters of France and Croatia across the Kwese Football Fans Arena in Calabar, Lagos, Port Harcourt and Abuja were treated to a wonderful viewing experience, one that they will surely talk about for Months and remember for years as there was not only quality viewing, but also music, comedy, dance and games fused into Football which made the total experience unique and fun filled. There was jubilation in the various fan parks across the country and new phrase that came out was “Our Distant Cousins From Across The Sea Are Champions” with celebrity musicians like Harrysong, Seyi Shay, Praiz, Small Doctor and Immaculate, present at the parks to join the celebration and delight their fans present with great performances.

LaLiga’s huge influence on this summer’s World Cup continued right through to Sunday’s final, with MVP Antoine Griezmann of Atletico Madrid scoring one and setting up two as France topped Croatia 4-2. Meanwhile, Real Madrid midfielder and Croatia captain Luka Modric was voted player of the tournament despite his country falling just short at the final hurdle. 11 LaLiga players were involved in the decider at Moscow’s Luzhniki stadium, more than any other league. Griezmann clinched his third MVP award of the tournament with an impressive performance. It was his free-kick that was knocked into the net for the game’s opening goal, his penalty which put France 2-1 up and his assist which led to France’s third. Atletico defender Lucas Hernandez laid on France’s fourth and final goal, with his fellow defenders Samuel Umtiti of Barcelona and Raphael Varane of Real Madrid also impressing, while Sevilla’s Steven N’Zonzi was a second half substitute as Les Bleus saw out their victory. Modric shone albeit in

defeat and was awarded the 2018 ‘Golden Ball’ for his contribution over the month in Russia. This included a penalty in the opening game victory over Nigeria, a tremendous 20yard strike in the unforgettable 3-0 victory over Argentina and shoot-out spot-kicks converted against Denmark and Russia during the knock-out stages. Croatia also had Barça’s Ivan Rakitic in midfield in Sunday’s final along with Atletico’s Sime Vrsaljko at right-back, while Mateo Kovacic was on the bench. New Atletico signing Thomas Lemar and Barça’s Ousmane Dembele were unused subs for France. It was a fitting end to a tournament at which LaLiga stars have been prominent throughout, right from the opening game when Villarreal’s Denis Cheryshev scored twice for Russia in the hosts’ 5-0 victory over Saudi Arabia. The following month of games then saw 24 different LaLiga players from ten different Spanish clubs score 40 goals in total. LaLiga stars were named MVP in 21 of the 64 games as 81 players from across LaLiga Santander and LaLiga 1l2l3 represented their countries.

T H I S D AY ˾ TUESDAY, JULY 17, 2018

TUESDAYSPORTS GOtv Boxing Night 15: I’ll Destroy Iberu, Fijaborn Boasts

Paul Pogba holds the Jules Rimet trophy aloft with France’s first lady Brigitte Macron amid the French celebrations in Paris

FIFA Passes the Ball to Qatar for 2022 World Cup Russian President, Vladimir Putin, Emir of Qatar Tamim bin Hamad Al Thani and FIFA President Gianni Infantino, took part in a ceremony to hand over the role of FIFA World Cup hosts from Russia to Qatar on Sunday in Moscow. The trio gathered in the Georgievsky Hall of the Grand Kremlin Palace and, in place of a baton to symbolise the changing of the Host Nation, they used the official match ball for the 2018 FIFA World Cup Russia knockout rounds, the adidas Telstar Mechta. Mr Putin himself took it down from the podium and handed it to the Emir of Qatar. Russia 2018 came to an end on Sunday, as France defeated Croatia 4-2 in the Final at the Luzhniki Stadium to become world champions for the next four years. The next World Cup will be held in Qatar from 21 November to 18 December 2022. According to the Russian President: “Today is a

ceremonious occasion as Russia passes the FIFA World Cup torch to the state of Qatar. The World Cup is coming to an end in Russia. We are proud of what we’ve managed to achieve for fans of this wonderful sport. “The whole country has taken enormous pleasure from interacting with the world of football and the fans who have visited us from all over the planet. I am sure our friends from Qatar will manage to stage the 2022 FIFA World Cup just as exceptionally. “It goes without saying that we are ready to share the experience we’ve built up hosting the World Cup with our Qatari friends. We will do everything to ensure football can carry out its amazing and humanitarian role of uniting people, countries and continents,” concludes Putin. FIFA President also spoke highly of the exceptional show put up by Russia:“Dear Mr President, Your Highness, I am a happy person today.

Welcome, dear friends,” the head of the world governing body said in English, Russian and Arabic. “These words have accompanied us for this entire month and will accompany us further over the next four years. “It’s a huge honour to be in such a special place, the Kremlin, to celebrate the end of the 2018 World Cup and pass on the torch to the organisers of the 2022 World Cup. “Football is all about passion, emotions, love, family and unity – we have experienced this fully in Russia and now we’re handing it over to Qatar. I am sure that in four years we will see the same energy, the same positive influence in Qatar as we have seen in Russia. I can certainly say we have fallen in love with Russia. And I’m sure that in four years we will all love Qatar. This is already happening. We invite everyone to the 2022 World Cup in Qatar!” stressed Infantino with optimism. Emir of Qatar also gave

assurance to emulate the good hosting put up by Russia: “Mr President, allow me to congratulate you and the Russian nation on a fantastic World Cup, which we hope to host just as successfully. “I’d also like to express my gratitude to the members of the Russia 2018 Local Organising Committee, who are helping our colleagues from the Qatar 2022 Organising Committee. We look forward to continuing to work alongside our friends from Russia. “I would like to thank Mr Gianni Infantino and congratulate him on a successful 2018 FIFA World Cup. We hope to enjoy a fruitful partnership until 2022. “Staging the 2022 World Cup in our country is a really important event in the history of Qatar. I remember that when our country was awarded the right to host the World Cup, it was a huge celebration for the whole Arabic world. I invite all of our friends to come as guests.

COUNTDOWN TO CAA ASABA 2018

Okagbare, Dibaba, Others to be Inducted into Hall of Fame The golden girl of Nigeria athletics, Blessing Okagbare and other members of Team Nigeria’s 4x200 quartet that won gold at the 2016 IAAF World Relay in Bahamas will be inducted into the Confederation of African Athletics (CAA) Hall of Fame. This accolade will be bestowed at the Welcome Dinner for athletes and officials participating at the 21st African Athletics Championships, Asaba 2018. The event, organised by CAA and Delta State Capital Territory

Development Agency is slated for 5pm on July 31, 2018 at the Event Center, Asaba. The State Governor Dr. Ifeanyi Okowa, IAAF President Sebastian Coe, CAA President and members of his executive committee, top government officials at Federal and State level, diplomats and the LOC led by its Chairman Solomon Ogba will graced the occasion. Other members of the team that will inducted into the Hall of Fame are Dominique Duncan,

Regina George, Christy Udoh, Olusoji Fasuba and Tosin Oke are two other Nigerians that will be inducted into the Hall of Fame. It is not going to be an all Nigerian affair, Olympics and World Champion Tirunesh Dibaba from Ethiopia will be inducted into the Hall of Fame, ditto her compatriot Mesert Defar who has also won medals at the Olympics and the World Championships. Other Ethiopians on the list include Genzebe Dibaba a world

record holder and champion, Almaz Ayana an Olympics and World Champions and Kendnisa Bekele a legend in long distance, road races and marathon and world record holder. South Africa duo of Caster Semanya and Wayde van Nieckert both Olympics and World Champions will be inducted. Also on the list are Kenyan trio of Vivian Cherivyot, the king of 800m David Rudisha and Ezekiel Kemboi.

LMC Postpone NPFL Resumption Indeﬁnitely The League Management Company (LMC) Monday announced an indefinite suspension of the Nigeria Professional Football League (NPFL) which was scheduled to resume from the World Cup break on Wednesday, July 18. A letter informing the clubs of the decision attributed the suspension of the league to prevailing adverse circumstances in the administration of football in

the country. The letter signed by the Chief Operating Officer, Salihu Abubakar and addressed to all the participating 20 clubs read in part: “Kindly be informed that the League Management Company (LMC) has reached a decision to postpone the resumption of the Nigeria Professional Football League (NPFL) indefinitely. “The decision is based on the current adverse circumstances in

the administration of football in the country as a result of which sponsors, partners and service providers have expressed strong concerns and are reviewing their involvement in the league “There is therefore the need to engage them further in this regard in order to mitigate against any possible adverse outcome. Furthermore, organizing matches of the NPFL under the current circumstances might cause irreversible damage

to the League brand”, the statement noted. The letter further explained to the clubs that a major partner with whom negotiation had been concluded and approved at the last annual general meeting of the LMC in Port Harcourt on May 28, 2018 has requested for the suspension of the execution of the contract as a result of the on-going challenges in national football administration.

Reigning African Boxing Union (ABU) welterweight champion, Olaide “Fijaborn” Fijabi, has vowed to finish off Kazeem “Iberu” Ariyo, his opponent for the national light welterweight challenge bout slated for GOtv Boxing Night 15 on 29 July. The bout, which is the second one between the two boxers, is one of the seven scheduled to hold at the Indoor Sports Hall of the Obafemi Awolowo (formerly Liberty) Stadium in Ibadan. The former national welterweight champion boasted that his opponent will fall in the first round. “I have defeated him before and I know what to do to defeat him again. I am a knockout specialist and Iberu will be knocked out in the first round,” Fijaborn bragged.

The biggest fight on the night is the African Boxing Union (ABU) lightweight title bout between Ghanaian challenger, Nathaniel Nukpe, and reigning king of the division, Oto “Joe Boy” Joseph. Other bouts on the card at the event include the cruiserweight clash between Michael “Lion Heart” Godwin and Idowu “ID Cabasa” Okusote, international light middleweight contest between Akeem “Dodo” Sadiku of Nigeria and Franc Houanvoegbe of Benin Republic. The event, sponsored by GOtv and Bet King, will be beamed live on SuperSport in 47 African countries. The best boxer at the event will go home with a cash prize of N1 million alongside the Mojisola Ogunsanya Memorial Trophy.

Lagos SWAN Salutes Ambode for Rescuing Stranded Nigerian from Russia The leadership of the Lagos State Chapter of Sports Writers Association of Nigeria has heaped encomium on the Lagos State Governor, Akinwunmi Ambode for rescuing 50 stranded Nigerians who went to Russia for the 2018 FIFA World Cup. In a statement issued by Lagos SWAN, Chairman, Debo Oshundun, the association said the recent gesture by Ambode who is the association’s Grand Patron has not only impacted 50 people’s lives but has sent a strong message to the global community. “This is a noble gesture which is worthy of emulation . We cannot thank his Excellency enough for coming to the rescue of these

Nigerians who were victims of dubious traveling agents.” “Governor Ambode’s latest action has again demonstrated his quality leadership which has continued to reflect in the vast level of development in the last 3 years since he took over.” Lagos SWAN said that with the global community’s attention on the World Cup, Nigeria could not afford to have its image dented by such unfortunate situation which many would readily have described as an attempt to illegally migrate to Europe. “We cannot thank Ambode enough for another display of quality leadership and saving the country and its people from another round of global embarrassment.”

Students Storm Rowe Park for Secondary Schools Traditional Games Mobolaji Johnson Sports Centre, Rowe Park, Yaba was yesterday agog as secondary schools students in Lagos compete in the second edition of Lagos State Traditional Games Championships. The second edition of traditional games is featuring Ayo, Abula, Kokowa and Langa. It will be competed by Under 15 students from both junior and senior secondary schools in Lagos. Registration of athletes by Games Master of each participating school held yesterday with the competition proper taking place on Tuesday and Wednesday, while the finals and awards ceremony take place

on Thursday from 12 noon. Twenty schools were selected across educational districts in the state for the competition facilitated by the Lagos State Government through the Lagos State Sports and organised by the Lagos State Traditional Sports Association. Chairman of the Sports Commission, Dr Kweku Adedayo Tandoh said that the state is focusing on school sports development in order to discover new young athletes in various sports so that there will be a pool of athletes to be used by the state to prosecute national and international competitions

Ex-Cricket Boss Bereaved A former President of the Nigeria Cricket Federation, Dr. John Abebe, has announced the death of his Mother-in-law, Mrs. Esther Justina Egbarin (Nee Omatseye). Mrs. Egbarin, mother of Mrs. Joko Abebe, was a former Nursing Sister at the UACN and staff member at Vono Foam Plc. The deceased, according to Dr. Abebe, died in Lagos

at the ripe age of 81. In her lifetime, Mrs. Egbarin was a prominent member of the Warri Ladies Vanguard and also, a distinguished member of the St. Dominic’s Church League of Nurses Society. She is survived by her three children, Mrs. Joko Abebe, wife of Dr. John Abebe; Obi Egbarin, and Nneka Egbarin, including many grandchildren.

Tuesday July 17, 2018

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MISSILE PDP to APC “The party rejects the falsiﬁed results and declaration of the APC candidate, Dr. Kayode Fayemi, to be the winner of the election,as a daylight robbery, a brazen subversion of the will of the people and direct assault on our democracy” – The national leadership of the Peoples Democratic Party (PDP) expressing its disapproval of the July 14, Ekiti State governorship election results.

TUESDAY WITH REUBENABATI abati1990@gmail.com

Hadi Sirika and the return of Nigeria Airways

ne of the usual features on Nigerian social media is the nostalgic passion with which Nigerians often distribute pictures of the old Nigeria Airways and how that company once considered one of the best in Africa was mismanaged and made to fail. Established in 1958, it was liquidated in 2003. I have seen pictures of old tickets, images of Nigeria Airways pilots and crew, and for anyone who travelled with Nigeria Airways, you cannot but be moved to pity. Pity yes, because while Nigeria, the most populated country in Africa can no longer manage an airline of its own, the African skies are dominated by such airlines as Ethiopian airlines, Air Maroc, Kenya Airways, and South African airlines. Rwanda has a functional airline too. There is also Air Namibia. The assets of the Nigeria Airways of old have not only been liquidated; most of its former staffs are wasting away. In the aviation sector, Nigeria has the biggest market in Africa, and has signed Bilateral Air Service Agreements with over 70 countries, but it lacks the capacity to compete. Even the few private airlines operating within the country are barely struggling to survive. The agony of the Nigerian air traveller is not something to be imagined: we all face a daily grind of disappointment from airlines that cancel flights at will and offer no explanation. When you complain, the airlines simply tell you that things are very hard. So, if things are hard, are they supposed to be so shabby? The other month, the door of an aircraft on the domestic route flew off as the plane landed. That has not stopped Nigerians from patronizing that same airline. Most of the country’s airports are also poorly equipped and poorly maintained. The air-conditioning rarely works; the toilets are a nightmare. Aviation is big business but more than that, it is a major catalyst for economic growth and development. If there is any sector that is in urgent need of rescue, the Nigerian aviation sector is that sector. It is therefore a thing of interest that the Federal Government says it is now determined to revitalize the aviation sector and bring back Nigeria Airways or Air Nigeria as it has been referred to. This much was disclosed when the Minister of State for Aviation, Hadi Sirika received a certificate of no objection, an Outline Business Case certificate of compliance it is called, from the Infrastructure Concession and Regulatory Commission (ICRC). Tomorrow July 18, in London, Minister Sirika is launching a Road Show to attract investors, and formally unveil the name, the logo, the colour scheme and the structure of the national carrier. It all sounds so exciting and I am sure many Nigerians who agonise daily over how other African countries seem to succeed where we keep failing would like to see Nigeria run its own national airline and create opportunities for the business sector. The only problem that I see is that there is so much that is opaque in the proposals that have been put forward so far by Mr. Sirika. Being a former pilot, the Minister is definitely not a tyro in the business, but as he engages both the local and international audience, there are many questions that must be addressed. I intend to raise a few of these in this preliminary comment. The Ministry of Transportation and ICRC, the regulatory body, do not seem to be on the same page. The ICRC and similar institutions involved may face challenges with their own reputation. The Outline Business Case Certificate by the ICRC seems to agree only in principle that a national carrier can be established. It goes further to give specific conditions under which this may be done, and the Minister himself has quoted some of these conditions which the Ministry under his watch seems to be breaching already. Having noted that the business case and market study submitted to it

Sirika are “in substantial compliance with the ICRC Act, 2005 and the National Policy on Public Private Partnership”, the ICRC avers: “This certificate is granted on the condition that the Federal Government demonstrates her commitment to leverage private sector capital and expertise towards the establishment of the National Carrier through the provision of an upfront grant/Viability Gap Funding (VGF) to fund aircraft acquisition/ start-up capital. The FGN also agrees to zero contribution to airline management decisions and zero management control by the government. Any attempt to impose government control over the management of the Airline invalidates this certificate and the entire process”. It goes further: “In view of the fact that the mitigating conditions for the project may change over time, this Certificate is valid for 12 months from the date indicated below. This certificate is therefore issued to enable the Ministry commence an international open competitive bidding process to procure a world-class strategic investor to manage, operate, maintain, and invest in the National Carrier.” The ICRC provides further information on its website with regard to other aviation sector projects including the development of an aerotropolis, the establishment of a maintenance, repair and overhaul centre (MRO) and the development of cargo/agro-allied airport terminals. Except the role of the infrastructure concession regulatory body is a mere formality, I do not see any evidence that the Federal Government of Nigeria, through the Ministry of Transportation (Aviation) is keen about compliance with the strict provisions outlined in the Certificate of No Objection. The Road Show scheduled for Farnborough, London, tomorrow, does not sound like “an open competitive bidding”; it is a launch. Do you do a roadshow for a transaction that does not yet exist, or for a company that is not yet in existence? Minister Sirika and whoever his transaction advisers may be have already determined that the proposed airline would cost the Nigeria government $8.8 million. How was that arrived at? He has also talked about a take-off grant of $300 million to purchase 5 aircraft to be delivered by December 19? There certainly must be some known best practices in the setting up of a national carrier. Whatever business model, that we are following does not look like the very best. Who starts an airline by first buying aircraft at full cost? Hadi Sirika reportedly met with officials of Boeing, the aircraft maker in May. Would it not be better to lease the proposed five aircraft from Boeing and enter into a partnership agreement with them, with a private investor in charge of the new airline? The ICRC says the Federal Government must not operate or control the proposed airline. This is precisely what Hadi Sirika and his team are already doing. And if they say no, and insist that the private sector is already involved in

the project, perhaps Mr. Sirika will disclose this tomorrow in London! But let him also disclose basic information about when the tender was placed for an “open competitive bidding.” And if there was no tender, who is that person who may have appropriated the power to determine the private sector partners for the national carrier? And when Mr. Sirika talks about a N300 million for the purchase of five aircraft to be delivered by December 2018, he should be asked where that money is coming from? Is it provided for in the 2018 budget? And if so, under what line entry, or will the money come through virement? The National Assembly should raise these questions. Nobody should use taxpayer’s funds to buy some end-of-life aircraft and claim that they are setting up an airline for Nigerians. I also find it curious that all the relevant persons and agencies that should be involved in the planning of something as important as a national airline have been quiet. Did the National Economic Council headed by the Vice-President discuss the matter for example? Is the Ministry of National Planning aware of it? Is the proposed airline part of the Economic Recovery Growth Plan (ERGP), and what is the framework in place to ensure fairness and transparency? Is the substantive Minister of Transportation, Rotimi Amaechi even involved in this at all; his studied silence is odd. Or abi the thing no concern am? If Nigeria must have a national airline again, then we must get it right. This is my point. The ICRC is obviously insisting on private sector control and management, because it was government inefficiency that killed off the old Nigeria Airways. The airline became a gravy train for the big men in high places. They used the planes for their private purposes, including going for weekend parties in London at government expense. Directors of government agencies and departments travelled with the airline on free tickets. Nigeria Airways was supposed to provide a hub for the aviation sector in Africa, its eventual mismanagement made that impossible. We must learn from history in order not to repeat it. Sirika says the proposed airline will take advantage of the African Single Air Transport Market. The Open Skies Agreement is part of the African Continental Free Trade Agreement – 44 countries signed up to it in Kigali in March.

Nigeria wants to benefit from this agreement, but it is yet to make up its mind about the value of African integration and free trade. You see our people? “We want to buy aircraft, we want to buy aircraft…” That’s all I hear them saying as if an aircraft is a toddler’s toy. I raise another poser: why do we even have to create a brand new national airline from the scratch. The Federal Government, through the Assets Management Company of Nigeria (AMCON) is already in possession of three airlines that are indebted to AMCON: Arik Air, Aero and whatever is left of Virgin Nigeria or Air Nigeria. AMCON’s mandate is to rescue these airlines and put them back on their feet. Can they not form the nucleus of the proposed national carrier; and turned, surviving assets and all, into one airline that Nigeria can brand for national purpose under the management of competent investors, and with government providing the needed oxygen? Would this not be more advisable than embarking on a new set of opaque transactions? Government can rescue moribund airlines such as the ones I have mentioned, encourage quality private sector participation, and just ensure a level playing field. A national airline that will be under the control of the Minister of Transportation in charge of Aviation, will sooner than later constitute itself into a threat to industry competitiveness. What remains is a moral question. Whatever the Federal Government decides to do eventually, it would be most unfair to set up a new national carrier without resolving the lingering matter of the unpaid entitlements and benefits of the old Nigeria Airways staff. When that company crashed, many lives were destroyed. Some of the pilots ended up as taxi drivers; many of the crew had to go and learn new trade, a few got jobs with the new commercial airlines. There was a time former Nigeria Airways staff formed a union and they used to carry placards to lament their fate and the injustice that they suffered. I don’t see those placards anymore; they have probably given up hope, and some of them may have died. Not to pay their entitlements – calculated at a total of N45 billion, and already approved for payment by the Federal Executive Council more than a year ago, would be an assault on their memory and an act of cruelty.

Minister Adeosun’s NYSC Certiﬁcate The Minister of Finance, Mrs Kemi Adeosun has been in the eye of the storm, and that is putting it mildly. While I believe that she may be the target of a conspiracy against her by persons on whose toes she may have stepped, (otherwise, who is still worrying these days about NYSC certificate?), it seems she herself has not helped matters by refusing to say a word to explain her dilemma. If she thinks the matter will blow away, the fact that the Federal Government has now intervened with the unconvincing claim that a probe is underway is a sure recipe for mischief. There are three weighty issues involved, in fact four: (1) she has been called a dodger. The NYSC Act does not permit anyone below the age of 30 to dodge a mandatory call to national service, except under circumstances that do not apply to her. At the time of her graduation from university, the Minister was 22 years old; (2) she is also being accused of forgery, or being an accessory to the act of forgery. The NYSC has not been helpful by suggesting that although she applied for a certificate of exemption, after dodging the NYSC for eight years, the exemption certificate with her is unknown to them; (3) she is also being accused of having made false representation of herself on the basis of which

she has taken very high jobs in Nigeria – first as a Commissioner and now as a Minister. (4) some persons have labeled this an act of corruption, obviously in order to score a point against the government she is serving. It is a tough moment for her. Still, Mrs. Adeosun should be given the benefit of the doubt, which she is entitled to, but her silence is not golden at all: we need to hear her own side of the story, within a reasonable period of time. The burden of proof having shifted to her, her refusal to talk is a clear evidence of withholding which could destroy any presumption of innocence in her favour. It is also wrong for anyone to say on her behalf that at the time of her graduation, she was not a Nigerian citizen because she was born in England. Section 25(1) (c) of the 1999 Constitution states clearly that Nigerian citizenship includes “every person born outside Nigeria either of whose parents is a citizen of Nigeria”. So at what point did she renounce her Nigerian citizenship? And does she have a work permit to enable her work in Nigeria if indeed she is a foreigner? There are many lessons here for all young persons who were “born abroad” or who may not be excited about the NYSC.

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