Wednesday 18th July 2018

Ortom Snubs APC as Party Leaders Move to Stop Defection Gov’s posters with PDP crest flood Makurdi Iyobosa Uwugiaren, Onyebuchi Ezigbo in Abuja and George Okoh in Makurdi Governor Samuel Ortom of Benue State yesterday failed to honour the invitation by the leadership of the All Progressives Congress (APC) for a meeting to reconcile him

with his erstwhile godfather, Senator George Akume. Akume was, however, at the meeting presided over by the party’s Deputy National Chairman, Senator Lawal Shuaibu, who expressed hope

that a solution would still be found to the crisis in spite of Ortom’s absence. A close political associate of the governor told THISDAY in Abuja yesterday that the governor was technically no

longer a member of the APC and that many of his followers did not see the need for the meeting. “I think Governor Samuel Ortom has made up his mind; he is technically no longer a

member of APC; and many of his huge followers don’t see the need for the meeting; that is why he failed to attend the party’s invitation on Tuesday. Those who value him, politically, are already

Discos: FG Lied on Power Generation Capacity… Page 10

talking to him,’’ the source stated. A hint of where Ortom might be headed appeared yesterday as his posters with the crest of the Peoples Democratic Party (PDP) surfaced on the streets of Makurdi, the state capital. Continued on page 8

Wednesday 18 July, 2018 Vol 23. No 8490. Price: N250

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Katsina Flood Death Toll Rises to 58 FG pledges to pay compensation Francis Sardauna in Katsina The death toll from the flood that ravaged 10 villages in Jibia Local Government Area of Katsina State on Sunday has risen to 58 as more corpses were said to have been discovered yesterday from Continued on page 8

STANDING AGAINST CRIME… President Muhammadu Buhari with judges of the International Criminal Court shortly before he delivered the keynote address at the 20th Anniversary of the court at The Hague, Netherlands… yesterday

Buhari at ICC, Promises to Conduct Credible, Violence-free Polls in 2019 Submits 2018 supplementary budget, proposes N242bn for INEC, Police, others Seeks funding from 2018 N’Assembly votes Deji Elumoye and Omololu Ogunmade in Abuja President Muhammadu Buhari yesterday in The Hague, Netherlands, assured the International Criminal Court (ICC) that his administration would deploy every power within

its reach to conduct free, fair and violence-free polls in 2019. Buhari made this pledge while delivering a keynote address at the 20th anniversary celebration of the ICC, being presided over Continued on page 8

Senate President, Dr. Bukola Saraki, being received in Ilorin, capital of Kwara State, by his supporters… yesterday

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Landing Permit: We Received No Application, Says NAF We applied, counters Afenifere Gboyega Akinsanmi in Lagos and Senator Iroegbu in Abuja The Nigerian Air Force (NAF) yesterday explained that it could not have denied the flight chartered by some Southern leaders to take them to Makurdi, the capital of Benue State on Monday, landing permit, since it did not receive any application for the facility. The President of Ohanaeze Ndigbo, Chief John Nwodo, had at a press conference in Abuja on Monday, claimed that he and some other Southern Nigeria leaders, who were on their way to Makurdi from Abuja to attend a rally on restructuring by the Middle Belt Forum, were denied landing permit, effectively aborting their trip. Billed to attend the rally were Nwodo, Afenifere chieftain, Chief Ayo Adebanjo, and South-south leader, Chief Edwin Clark, among others. But the NAF’s Director of Public Relations and Information (DOPRI), Air Vice Marshal Olatokunbo Adesanya, in a statement in Abuja, denied the allegation, saying the air force did not receive any application for the use of the facility. However, a Yoruba sociocultural organisation, Afenifere, whose leaders were part of the

aborted trip, faulted the claim of the NAF, insisting that they duly applied for the permit in line with the directive of the airport authorities. Adesanya stated that the runway at NAF Base was not a dual-user facility but one constructed strictly for military purpose, which requires that potential users should apply before landing at the base. He stressed that in line with global best practices, there was a clearly established procedure for non-NAF aircraft to operate into and out of the runway in Makurdi, and that procedure was well known to all pilots in Nigeria. The DOPRI also noted that many airlines had in the past adhered to the stipulated procedure and successfully landed and took off from the NAF runway in Makurdi. According to him, the procedure includes, a written request to NAF Headquarters, Abuja for permission for a specific aircraft to operate into its airfield on a specific date and time, including the names of the passengers and other necessary details. He explained, "In this case, there was indeed a request for permit by the Benue State Government, dated July 16, 2018,

for an aircraft with registration number 5N-FCT to land at the NAF Base Makurdi on July 16, 2018. Although requests for landing permits are expected to reach NAF Headquarters not later than two days before the desired landing date, the NAF went out of its way to expedite the process and accordingly granted the permit for the aircraft with registration number 5N-FCT to land at NAF Base Makurdi on July 16, 2018. "However, at about 5p.m on July 16, 2018, the NAF was verbally informed that there was a need to change the aircraft for which permission had already been issued, reportedly because the aircraft had developed snags. ‘’The NAF, therefore, asked for another written request, in line with the established procedure. As at date, the NAF Headquarters is yet to receive a written request for the replacement aircraft with Registration Number 5N-IZY to land at its Base in Makurdi.” Adesanya said the NAF did not concern itself with political or religious affiliations of individuals/organisations in granting landing rights at its airfields. He maintained that the issue of security and safety remained uppermost, noting that the

ongoing Operation Whirl Stroke was largely being coordinated from NAF Base Makurdi, with fighter aircraft flying in and out of the base. He also assured that NAF remains a highly professional and apolitical organisation that would rather focus on its military duties.

We Applied, Counters Afenifere Meanwhile, Afenifere yesterday disagreed with NAF, insisting that the landing permit was duly applied for in line with the directive of the airport authorities. The group’s National Treasurer, Chief Olasupo Shonibare, and its National Publicity Secretary, Mr. Yinka Odumakin, gave their accounts of what transpired in separate telephone interviews with THISDAY yesterday, lamenting that they were kept waiting at the Abuja Airport for hours on Monday. In his conversation with THISDAY, Shonibare explained that the southern leaders approached two different airlines before they eventually knew that the airport authorities were acting on the instruction from the above.

He said: “The first airline knew there was already an order that we should not be allowed to Makurdi, Benue State. As a result, the airline claimed there was bad weather. But the airline was already aware that we would be denied landing permit. “Unknowingly, we approached the second airline. Immediately, its staff started processing our request to fly to Makurdi on chartered flight. But midway, the airline management called Makurdi Airport, perhaps to get clearance. “After the call, the airline management directed that we should write an application for landing permit. At first, we protest the demand for an application for landing permit. “We protested because we had been flying the chartered flight on the same route without writing an application for landing permit. One of us, a veteran ex-soldier, who was head of Nigerian military forces in Sudan, went to the commandant in Abuja. “The commandant told us that it was part of new security measures in all Nigerian airports. Eventually, we agreed to write an application for landing permit. We immediately applied to the Airport Commandant in Makurdi.

“But the commandant told us that it was part of new security measures. He later told us that even if we wrote the application, it was not a guarantee for an approval. We then made further inquiry.” At that point, the national treasurer noted that the answer they got obviously showed that the power-that-be “has given an order not to allow us fly to Makurdi on Monday. That is how we could not attend the Middle Belt Conference.” In a separate interview, Odumakin faulted the claims of the airport authorities, noting that it “is not true we did not apply for landing permit. We applied for it.” Also speaking to THISDAY, Adebanjo said, "They are just finding excuses. This is not the first time we are going there. They are just finding excuses. We have been there before. When they were massacred, we were the first delegation to visit them. That is why they are finding this untenable excuses, and thinking they are talking to school children. "It is unfortunate for people like us. It is a sad story that the country is going back. To people like me, it is a sad story. We never thought we will ever go back to it again.”

"Nigeria has cooperated with, and supported the court at all times. This, we have demonstrated by our full and transparent cooperation

on matters on which we are being investigated and also in our several country statements

B U HARI AT IC C , PROMISES TO CON DUCT C R ED I B L E , VI OL EN C E- F R EE POL L S I N 20 1 9 by a Nigerian, Justice Chile Eboe-Osuji. The president’s declaration at The Hague reverberated at home as his letter presenting the 2018 Supplementary Appropriation to the National Assembly was separately read at both chambers. In it, he among others, asked for N242 billion for the use of Independent National Electoral Commission (INEC), the police and other security agencies to conduct the 2019 general election, he promised the ICC judges would be clean. Buhari told the court that as Nigeria inched towards the 2019 general election, his administration would not only strive hard to conduct

free and fair polls, it would also ensure that similar violence, which accompanied the 2011 elections that became a subject of investigation by ICC would not repeat itself. Several young and innocent Nigerians particularly youth corps members were killed by some blood thirsty hounds in the North who were protesting the loss of Buhari, the then presidential candidate of the Congress for Progressive Change (CPC) to Dr. Goodluck Jonathan of the Peoples Democratic Party (PDP). The hues and cries which accompanied these brutal killings drew the attention of the ICC which promptly launched investigation into the tragic episode. However, Buhari while

recalling this tragic episode of 2011 and the subsequent intervention of ICC yesterday, assured the court that the trend would not repeat itself. "In conclusion, let me intimate you that Nigeria is preparing to conduct general election in 2019. Contrary to the tragic incidents that characterised the 2011 general election in Nigeria which necessitated preliminary investigations by the ICC, I assure you that all hands are on deck to prevent any recurrence of such tragic incidents. We shall do everything possible to ensure that Nigeria witnesses the conduct of free, fair and peaceful elections in 2019," Buhari said. Buhari who congratulated Eboe-Osuji on his election as the President of ICC, thanked

judges of the court for electing the Nigerian-born judge, whom he described "as a cherished son of Nigeria," adding: "Nigeria is very proud of you, Mr. President." Buhari who recalled that ICC was established 20 years ago as a global court following the Nuremberg trials of World War II war criminals, to hold people accountable for crimes against humanity, war crimes, crimes of genocide and aggression, submitted that Nigeria had cooperated with the court in all ramifications. According to him, Nigeria's cooperation with the court is predicated on its strong belief in the principles of rule of law as well as its commitment to fundamental freedom as contained in the objectives of the ICC.

O RTO M S N U B S A P C AS PA RT Y L E A D E R S M OV E TO STO P D E F E CT I O N State and a host of others who As reported by THISDAY party would not sit by and allow Ortom’s Posters with have assured him that the party yesterday, the party had such dispute to tear its members PDP Crest Flood will welcome him," he said. summoned the two key players in Benue State apart. Makurdi in intra-party feud in Benue State between the governor and the senator to try to resolve their differences. While Shuaibu met with Akume behind closed doors for two hours, the governor was said to have stayed back in Makurdi because he felt nothing positive would come out of the discussion. At the end of the meeting Akume was escorted to his car by Shuaibu without uttering a word on what transpired between them. When accosted by journalists, as he was about to enter his car, Akume said he would come back today for another round of reconciliatory meeting. However, Shuaibu who has been drafted to explore means of arresting the situation in the state said the meeting went well. He told THISDAY that the

According to a source at yesterday's meeting with Akume, the party demanded to know what led to the governor's action and whether indeed, there was an attempt to shut the state governor out of the party as he claimed. The source said that some measures of success had been achieved, adding that there would be further reconciliatory talks with the actors in the dispute. He said that the governor asked to be excused from yesterday’s meeting to enable him attend to other crucial engagements. The governor was said to have called the APC National Chairman, Adams Oshiomhole, to inform him that he would not attend the meeting, as he was already engaged for another meeting.

Despite the declaration by Ortom that he was yet to decide on the party he would join after dumping the APC on Monday, his posters bearing PDP logo yesterday flooded the state capital. The posters have adorned most streets, roads and roundabouts in the state. Top government sources disclosed that the governor was in top negotiation with leaders of the PDP to rejoin it. According to a member of the PDP in the state, Mr. Ejimbi Oloja, he said the governor had made subtle contact with the leadership of the party in Abuja and Benue State. "He has made contacts with the National Chairman of PDP, Chief Uche Secondus, Rivers State Governor Nyesom Wike, Governor Ayo Fayose of Ekiti

He further disclosed that Ortom was advised to reconcile with the leaders of the party in the state, including former Senate President David Mark and former governor of the state, Mr. Gabriel Suswam. He has since reconciled with the two and it has been said that they are favourable to giving the party ticket to the embattled governor. However, according to another source, Ortom’s return to the PDP and getting the party ticket could be a tough task for him. He said most of the plethora of aspirants already busting for the party ticket are not disposed to handing the party ticket to the governor. Some of them have even threatened to dump the party if such arrangement is allowed.

Continued on page 10

KATSINA FLOOD DEATH TOLL RISES TO 58 demolished structures and water channels within the affected communities. The Executive Secretary of the State Emergency Agency (SEMA), Dr Aminu Waziri, who disclosed this to THISDAY, said more corpses that were washed away by the flood to neighbouring villages of Mada Runfa and Kuntumi in Niger Republic had been recovered and brought home for burial.

He said, "We buried more than 27 bodies and more are being uncovered from collapsed structures. My officers in collaboration with villagers are on search and rescue mission to uncover the bodies of the victims. "We have resettled some people at make shift camps in schools and government is supplying food items and medicals to the affected persons who survived the ungodly incident." Meanwhile, no fewer than 1,476 internally displaced persons have been registered at the makeshift camp temporarily housing the Jibia flood victims. Waziri who confirmed this to THISDAY in a telephone chat last night, said the Mohamadu Rabiu Model Primary School, Jibia is serving as the IDPs camp. Meanwhile, the federal government has said it would compensate the victims of the natural disaster, which has rendered thousands homeless. Vice President Yemi Osinbajo stated this yesterday evening during a visit to Jibia to commiserate with those affected by the natural disaster. He said efforts would be made to ensure that adequate relief materials reached all the victims. According to him, "The president has asked me to assure you that everything

will be done to ensure that everybody is taken care of, and that we will make sure this sort of thing does not repeat itself again. "As Nigerians, we all deserve to live our lives happily, we deserve to be treated well, and the president has assured everybody that working with the state government, we will do all that is necessary. "Where compensation is necessary, we will compensate, where rebuilding is necessary, we will do so." The National Emergency Management Authority (NEMA) and SEMA are working round the clock to provide the displaced persons with relief materials that include food items, mattresses and medication. Osinbajo was accompanied by the state Governor, Alhaji Bello Masari; the Director General of NEMA, Mr. Mustapha Maihajia; and his SEMA counterpart, Waziri.

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Discos: FG Lied on Power Generation Capacity Two-Minute Briefing Say withdrawal of licence will not stop imminent collapse of sector Chineme Okafor in Abuja The 11 electricity distribution companies (Discos) in Nigeria’s electricity market yesterday, accused the federal government of lying on its claims of improvement in power generation in the country, stressing that generation capacity as at January 2015 was 6,421 megawatts (MW) and not 4000MW as often claimed by the government. The operators also took a swipe at the federal government for asking them to either upgrade their efficiency levels in the market or quit the stage, saying that such orders would not stop the imminent collapse of the electricity sector. Speaking through the Executive Director, Research and Advocacy of their umbrella association, Association of Nigerian Electricity Distributors (ANED), Mr. Sunday Oduntan, the Discos explained the government has largely created more confusion in the operations of the country’s electricity sector, than it had helped it. Reacting to the government’s claims that power generation had peaked to 7,000MW since President Muhammadu Buhari came into office in May 2015, Oduntan explained that as at January 2015, Nigeria already had close to that generation figure. He also described as false, the government’s repeated claim that an excess generation of 2,000MW was idle. He said, “A review of NERC’s “Daily Energy Watch” for January 28, 2015 would indicate a generation availability of 6,421MW divided into peak of 4,230MW and constrained energy of 2,191MW. In other words, it is misleading to state that available generation has grown from 4,000MW in 2015, as a measure of progress, given that a volume of generation slightly under 7,000MW already or previously existed, prior to the beginning of this administration. “Furthermore, there is no stranded 2,000MW. While there is an available capacity of 7,000MW, the best that can be generated, at this time, is 5,000MW. This is because there is insufficient gas to power the thermal plants due to gas line limitations - for instance, the

Fashola non-completion of the Oben pipeline, and the absence of a commercial framework that would encourage gas exploration.” According to him, generation that is constrained by gas amounts to an average 1,500MW daily, adding that 25 out of 28 generation plants are fueled by gas. He explained that transmission grid frequency, line limitation and water management made up the difference of the balance 500MW of constrained generation. He added, “In simple terms, the oftenadvertised and pronounced Disco limitation to take on 2,000MW of additional generation is not consistent with the facts or reality. This, therefore, shows that very little has actually changed contrary to the minister’s constant pronouncements. “It is with much regret that we feel compelled to respond to the significantly distorted picture that has been painted of the Discos by the Minister of Power, Works and Housing (Mr. Babatunde Fashola), in his press briefing of Monday, July 9, 2018.” He said the challenges of the Nigerian Electricity Industry (NESI) could not be turned around based on a culture of misrepresentation, adding that the Discos had declined to rebut previous inaccurate assertions by the minister and other government functionaries in good faith. He said the ministers’ recent pronouncement was a clear attempt to demonise the Discos, who by the structure of NESI, are the faces of a difficult sector.” Oduntan, in an interaction with journalists in Abuja yesterday, also faulted the

government’s order to the Nigerian Electricity Regulatory Commission (NERC) through Fashola, to get them to buckle up or shape up, adding that no amount of government’s order would correct the failings of the sector, which they added would lead to its collapse. He further said: “We are also left wondering whether such demonisation of the Discos is camouflage for the absence of the effective policy leadership that is desired for implementing the enabling environment that is necessary for the viability and sustainability of NESI? “We recognise that we are on the crux of a political season, in which all manner of advantage is being sought by political contenders, we however do not want to be used as the whipping dog to advance other people’s agenda,” Oduntan said He stated: “Our members, the Discos, are not politicians, even though they distribute a product that is of great importance to politicians, in view of the needs of their constituents. Our constituency which consists of customers, employees, bankers, vendors and investors have a greater interest in improved service delivery than the adoption of cheap theatrics and propaganda for political advantage.” He noted the Discos were committed to their obligations, as well as meeting the performance obligations of the agreement that they have with the Bureau for Public Enterprises (BPE). He also stated that the ministry of power had taken away the independence of the NERC by constantly imposing on it orders to execute in the sector. “Unfortunately, minister’s expression of his interest in promoting national interest, has resulted in his ministry’s consistent promotion of policy initiatives that have resulted in sector-wide confusion and that infringe on the roles and responsibilities of the various sector players; the imposition of the ministry’s agenda on the regulator, compromising its independence; the seemingly lack of respect for contract; and the self-serving distortion redefinition of the law that is the bedrock of the privatisation and reform,” he said.

B U H ARI AT IC C , PROMISES TO CON DUCT C R E D I B L E , VI OL EN C E- F R EE POL L S I N 20 1 9 at the sessions of the court. "Our cooperation with the Court is borne out of our strong belief in the respect for the rule of law and human rights, and in our firm commitment to the sanctity of fundamental freedoms at international and domestic levels, as ingrained in the objectives for establishing the court," Buhari added. The president, who said with the increasing spate of crimes across the world today, the ICC's interventions were more needed than ever, was also swift to recognise that ICC is limited by its inability to act on prevalent crises in states that are not parties to the ICC treaty. Notwithstanding, Buhari challenged the court to act promptly within its jurisdiction, noting that by doing so, "the ICC reinforces the demand for justice far beyond its own cases." According to him, if ICC portrays itself to be strong and effective, it will succeed in sending a strong message to the entire world, despite its limitation, on the commitment of the international community to the principles of accountability, rule of law and corrupt free society. "A strong and effective ICC can also act as a catalyst for other justice efforts, expanding the reach of accountability. These could include serious cases of corruption by state actors that severely compromise the development efforts of countries and throw citizens into greater poverty. "These could also include cases of illicit financial flows where countries are complicit and obstruct repatriation of stolen assets. As the African Union Champion on Anti-corruption, these are issues dear to my heart," Buhari said. He enumerated some of the challenges facing the court to include: withdrawals and threats of withdrawals of some member states as well as accusations of bias in its exercise of the jurisdiction. However, he was swift to add that the court "has addressed these challenges in a

dignified and commendable way."

Submits 2018 Supplementary Budget, Proposes N242bn for INEC, Police, Others Meanwhile, the president has submitted to the Senate a supplementary appropriation bill, asking, among others, for N242 billion for INEC, the police and other security agencies to conduct the 2019 general election. He might, however, opened another front of confrontation with the legislature as he is asking it to shave off some of the votes it allocated for its projects in 2018 budget for the funding of the supplementary proposals. Buhari, in a two-page letter entitled 'Request for Virement and Supplementary 2018 Budget' dated July 11 and addressed to the Senate President, Dr. Bukola Saraki, which was read at plenary yesterday by the Senate president, requested the Senate to re-allocate N228.85 billions out of N578.31 billions National Assembly inserted into this year's budget for identified critical projects. Buhari explained that out of the proposed N242,445,322,600 estimated funding of the 2019 general elections, N164.104billion should be appropriated for by the National Assembly through virement, while the balance of N78.340billon would be provided for in the 2019 budget provisions. He, however, stressed in the letter that total amount of N228,864,008,215 is required to be vired from the N578 billions inserted into the N9.12trillion 2018 budget by the National Assembly for the projected N164 billions for election expenses this year and the balance of N64billions for restoration of votes into critical projects earlier removed by the federal lawmakers. The letter read in part, "The total amount required to be provided for in the 2018 budget for the 2019 general elections and to restore the identified critical projects to the amount earlier proposed is, therefore, N228,854,008,215.”

Buhari also ruled out the possibility of presenting a supplementary 2018 budget before the National Assembly. He emphasised that, "Implementing a budget of N9.12 trillion for 2018 will be extremely challenging and therefore, I do not consider it expedient to propose a further increase to the size of the 2018 Expenditure Framework to fund these very important and critical expenditure items The president explained further that the urgently needed N164 billions for funding of the 2019 general elections are to be allocated as follows, INEC-N143,512,529,455, N3,855,500,000 for the office of National Security Adviser, N2,903,638,000 for DSS, N1,845,597,000 for the Nigeria Security and Civil Defence Corps, N11,457,417,432 for the Nigeria Police Force and N530.1million for the Nigeria Immigration Service . He also reminded the Senate of the importance of 2019 general election in the country and the need to make necessary arrangements towards its conduct. According to him, it has become imperative to appropriate funds to enable the relevant agencies like INEC, police to commence preparations. Part of the 2018 virement proposal of President Buhari as contained in annexture to the letter include N143.512 billion as statutory transfer to INEC; N679.346million for police command and formations; N1.253 billion for Nigeria Security and Civil Defence Corps; N1.648 billion for the Office of the NSA; and N2.9 billion for DSS. It would be recalled that President Buhari had last month while assenting to the N9.12 trillion 2018 budget, lamented that the National Assembly inserted a total of 1,403 new projects amounting to N578 billions into the budget. The president on the occasion had said he would send an amendment/supplementary budget to the federal lawmakers for required remedies.

NEWS Herdsmen Kill Policeman, Six

Others in Taraba No fewer than seven persons, including a policeman, were yesterday killed by persons suspected to be herdsmen at Iware cattle market in Ardo Kola LGA of Taraba State. Page 11

EDITORIAL The Scourge of

humanTrafficking Of the around 700,000 persons trafficked across the world every year, Nigeria’s notoriety in the act has become an issue of international concern.Thousands of young Nigerian girls are routinely trafficked to Europe… Page 15

POLITICS This Second Chance is Worth

the Risk Ekiti State Governor-elect, Dr. Kayode Fayemi has demystified outgoing Governor Ayodele Fayose se by winning the governorship election last weekend, Shola Oyeyipo writes Page 18

FEATURES Battling Nigeria's Ecological

Problems While the memory of the 2012 flood that ravaged the country, leading to loss of lives, remains fresh, the erosion control measures embarked upon by the federal government through the Ecological Fund Office will, no doubt, bring succour… Page 20

BUSINESS Economic Diversification Key

to Foreign Investment Inflows, s, Analysts Insist Financial market analysts have reiterated the need for the implementation of policies that would grow the non-oil sector of the nation’s economy in order to mitigaterisksassociatedwithoverrdependence on oil. Page 23

EDUCATION Transforming Lives through

Ogunjobi’s Foundation Moved by the need to transform lives and ensure the progress and development of the people Ikare -Akoko, Ondo State, the Bisi Ogunjobi Foundation has for over 25 years… Page 32

INTERNATIONAL Blame Politicians, Not Mandela, for South Africa’s Unfinished Business July 2018 marks Nelson Mandela’s centenary year.Why is he still so revered across the world? Page 46

SPORTS FIFA Puts Super Eagles in 25th Position Out of 32 Teams Following the exit of the Super Eagles at the group stage of the just concludedWorld Cup finals in Russia, Nigeria was ranked in 25th position in the tournament won by France. Page 53

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NEWS

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Herdsmen Kill Policeman, Six Others in Taraba Police foil attack on Zamfara community, kill one bandit House urges IG to beef up security in Adamawa to prevent attacks

James Emejo Ă“Ă˜ ĂŒĂ&#x;Ă”Ă‹Ëœ John Shiklam Ă“Ă˜ Ă‹ĂŽĂ&#x;Ă˜Ă‹Ëœ Wole Ayodele Ă“Ă˜ Ă‹Ă–Ă“Ă˜Ă‘Ă™ Ă‹Ă˜ĂŽ Mohammed Aminu Ă“Ă˜ Ă&#x;Ă?Ă‹Ă&#x;

No fewer than seven persons, including a policeman, were

yesterday killed by persons suspected to be herdsmen at Iware cattle market in Ardo Kola Local Government Area (LGA) of Taraba State. The Zamfara State Police Command has also said it

Court Serves Dasuki’s Release Warrant on DSS, AGF The Federal High Court in Abuja has served a warrant of release of the former National Security Adviser (NSA), Col. Sambo Dasuki (rtd), on the Director General of the Department of State Services (DSS) and the Attorney General of the Federation (AGF) and Minister of Justice. The court had on July 2 granted Dasuki conditional bails, which he perfected fully yesterday. According to PRNigeria, a court bailiff accompanied by the two sureties who stood for Dasuki officially served the DSS chief and the AGF with the warrant of release around 1p.m. yesterday. Although the sureties had anticipated that the detained ex-NSA would be handed over to them, sources, however, said the DSS boss might need to contact the presidency before finally handing over Dasuki to the sureties in compliance with the ruling of the court. The warrant of release dated July 16, 2018, with a title: ‘Verification of Bail Conditions’ and signed by Deputy Chief Registrar, Mba Nkem A. Omotosho, was served on the DSS headquarters and the AGF in Abuja. The warrant of release read in part: “Pursuant to the judgment Order made on Monday, July 2, 2018, granted by his lordship, Justice Ijeoma L. Ojukwu, directing various conditions to be fulfilled prior to

the release on bail of the applicant (Dasuki). “I have scrupulously verified the entire conditions of the bail as ordered by his lordship and the three ambits are fulfilled.� “Hence, the respondents, the Director-General, DSS, and AGF are hereby notified as directed by his lordship for the subsequent compliance of same. “Attached herewith is the enrolled order of the court and all the necessary bail documents for your perusal and aggrandizement.� Before the latest judgment by Justice Ojukwu, the judge, on his fundamental human rights Dasuki had previously perfected bails granted him by four different judges of high courts including Justice Ademola Adeniyi and Justice Ahmed Mohammed of the Abuja Federal High Court and Justice Hussein Baba-Yusuf and Justice Peter Affen of the FCT High Courts. The ECOWAS Court of Justice also ordered his immediate release from detention. At the time of this report, friends, associates and well-wishers of the former NSA had stormed his residence eagerly awaiting his final release from detention by the federal government. Dasuki is being prosecuted by the federal government for alleged corruption and possession of arms.

killed one gunman and foiled an attempt by bandits to attack Tangaram community in Anka Local Government Area (LGA) of the state. There was also panic at the headquarters of the Kaduna State Police Command yesterday when some riot policemen started shooting sporadically, killing a woman in a protest against the killing of their colleagues by bandits in an ambush. The House of Representatives also yesterday passed a motion urging the Inspector General of Police (IG), Mr. Ibrahim Idris, to beef up security in Mayo-Belwa Local Government Area (LGA)

of Adamawa State to prevent reprisal attacks that had claimed several lives Our correspondent gathered that the Taraba cattle market victims were said to have been trailed to the market which is 20 kilometres from Jalingo, the state capital, from Mayo Lope, where clashes between the Fulani and Yangdan ethnic groups had claimed 17 lives in the past one week. The attack led to a serious pandemonium and forced closure of the market as traders ran helter shelter to avoid being caught in the attack. Besides, no fewer than 15

people sustained varying degrees of injuries, most of whom are receiving treatment at the Federal Medical Centre (FMC) in Jalingo where the corpses of the slain victims were also deposited. Confirming the incident in a telephone interview, the state Police Public Relations Officer (PPRO), ASP David Missal, said no policeman was killed in the attack. But THISDAY checks at the FMC revealed that the corpse of a policeman was among those deposited at the hospital’s mortuary. Missal, however, stated that the victims were trailed to the market

by the assailants on the grounds that the cows they brought to the market for sale were stolen. According to him, “Information available to us indicates that the attackers killed the yet- to- be identified people because the cows they brought to the market were their cows, which were stolen during the crisis in Lau LGA of the state. He, however, declined to confirm whether the victims were from Mayo Lope in Lau LGA, saying the command was still gathering intelligence. “We are still gathering

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INAUGURATION

L-R: Executive Chairman/CEO BUA Group, Abdul Samad Rabiu; Vice President Yemi Osinbajo; Sokoto State Governor, Alhaji Aminu Waziri Tambuwal; Kebbi State Governor, Alhaji Atiku Abubakar Bagudu, and Senator representing Kebbi Central, Senator Adamu Aliero, during the inauguration of BUA’s 1.5 million metric tonnes Kalambaina Cement Plant in Sokoto State‌yesterday

FG to Review Population Policy

EFCC Re-arraigns Abia Governor, Kalu for N7.65bn Fraud

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The federal government would embark on a comprehensive review of the current population policy, even as it stressed the need for robust population management policies. The Minister of Budget and National Planning, Senator Udoma Udo Udoma, disclosed that his ministry was collaboratiing with the Ministry of Health to carry out a comprehensive review of the current population policy and would require the support of the National Assembly for effective implementation. A statement issued by the minister’s Special Adviser (Media), Mr. Akpandem James, said Udoma spoke at an interactive session at the ongoing Parliamentary Open Week, which kicked off at the National Assembly in Abuja last Monday. He told the lawmakers that population management was one of the 60 key programmes set out in the Economic Recovery and Growth Plan (ERGP) as

a strategic initiative to ensure that the gains of government economic policies are felt by the citizens. “This was in realisation that unless something urgent was done about the country’s rate of population growth, it would be difficult for the people to feel the full impact of the GDP growth; which is why whilst seeking to grow the economy, government is at the same time seeking to manage the rate of population growth,� the minister said. The review would also entail benchmarking initiatives undertaken by other countries with high levels of population.    He pointed out that with an estimated population of 198 million people and a projected growth rate of 3.2 per cent yearly, Nigeria’s population would be more than 289 million by 2050 and the fourth largest in the world. “Therefore, it is imperative that we introduce measures to bring down the growth rate to less than two per cent,� he stated.

The Economic and Financial Crimes Commission (EFCC) yesterday, re-arraigned a former Governor of Abia State, Orji Uzor Kalu, at the Federal High Court in Lagos for an alleged fraud of N7.65 billion. Kalu was re-arraigned alongside his company, Slok Nigeria Limited, and Ude Udeogu, who served under him as the Director of Finance and Account, Abia State Government

House. The re-arraignment of the defendants followed an amendment to the charges filed against them 11 years ago. With the amendment, the prosecution increased the number of charges against the defendants from the initial 34 to 39. The amount quoted to have been allegedly diverted, stolen and laundered by the defendants was also increased from N2.9 billion to N7.65 billion.

The prosecuting counsel for the EFCC, Mr. Rotimi Jacobs (SAN), said the amendment to the charges became necessary in view of new facts revealed by some of the 19 witnesses who had testified against Kalu and his co-defendants in court. During yesterday’s proceedings, the trial judge, Justice Mohammed Idris, dismissed the objection raised by the defence counsel to the amended charge sheet, paving

the way for the re-arraignment of the defendants. In one of the counts, the EFCC alleged that Kalu, who was Abia State governor between 1999 and 2007, “did procure Slok Nigeria Limited - a company solely owned by you and members of your family - to retain in its account, domiciled with the then Inland Bank Plc, Apapa branch, Lagos, an aggregate sum of N7,197,871,208.7 on your behalf.�

AGF, EFCC, Boycott House Sitting on Probe of Recovered Loot None of the government ministries, departments and agencies (MDAs) attended the House of Representatives public hearing on the status of recovered public funds and assets from 1999 till 2016. Among the invited parties to the hearing which held yesterday, according to The Cable, were Attorney-General of the Federation and Minister of Justice (AGF), Abubakar Malami, Central Bank of Nigeria (CBN)

as well as all the nation’s antigraft agencies. Following a motion, the House mandated its committee on financial crimes to investigate crimes possibly committed in the recovery of looted funds and assets over a 17-year period. It was that only representatives from the private sector attended the hearing, though the Chairman of the joint committee, Kingsley Chinda, said 18 MDAs were invited weeks ago.

“We made a publication in the newspapers and invited the MDAs by way of letters. And very unfortunately, not one government ministry, agency or department is here, save for those that came from the private sector like the auctioneers,� Chinda said. “We invited the AGF, ICPC, EFCC, DSS, customs and several other agencies– about 18 MDAs. By Tuesday next week when we will resume sitting, we shall

re-invite them.� He added that the committee is not “witch-hunting� anyone, but rather trying to “douse the tension and criticism surrounding the recoveries and also to create a stronger bond between the government and Nigerians.� The Speaker of the House, Yakubu Dogara, who was present at the hearing, had said the mystery surrounding recovered loot must be investigated.

WEDNESDAY, JULY 18, 2018˾ T H I S D AY

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NEWS

APC, PDP Deny Cash-for-Vote Accusation Observers, Fayemi disagree over Ekiti election results Prosecute perpetrators or face legal action, SERAP tells INEC Ekiti house rejects election result, adjourns Onyebuchi Ezigbo ÓØ ÌßÔË ËØÎ Victor Ogunje ÓØ ÎÙ ÕÓÞ The Ekiti State chapter of the All Progressives Congress (APC) and the national leadership of the Peoples Democratic Party (PDP) have denied the allegations that the two parties were involved in vote-buying in the Ekiti State governorship election. Also a coalition of local and international election observers accredited to monitor last Saturday’s governorship poll in Ekiti State yesterday discredited the poll with their reports, insisting that the election that produced APC’s Kayode Fayemi as governor-elect, fell short of global best practices and electoral standards But in a swift response, Fayemi has disagreed with the observers, made up of representatives from over 50 domestic organisations, human rights groups and international election observing bodies, some of which are the Centre for Credible Leadership and Citizens Awareness (Nigeria), Justice and Equity Organisation, (Nigeria), International Republican Institute (USA), and Patriotic Women Foundation, (Abuja) as well as the other bodies from the African Unions, among others. In spite of the denial by the two major political parties, the Socio-Economic Rights and Accountability Project (SERAP) has sent an open letter to the Chairman of the Independent National Electoral Commission (INEC), Prof. Mahmood Yakubu, urging him to investigate allegations of vote buying by both the APC and the PDP during the Ekiti State

governorship election, and to collaborate with the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Economic and Financial Crimes Commission (EFCC) in any such investigation, or face legal action. The organisation also urged INEC to “prosecute anyone suspected to be involved or complicit in the alleged votebuying, if there is relevant and sufficient admissible evidence of electoral bribery and abuse of the electoral and democratic process against them.” This is coming as the members of the Ekiti State House of Assembly have rejected the result of the governorship election as announced by the INEC. The state chapter of the APC said yesterday that votebuying should be discouraged for democracy to grow in the country. The party expressed appreciation to the Ekiti voters over the peaceful conduct of the last weekend’s governorship election that led to the victory of the APC’s candidate, Dr. Kayode Fayemi, as the governor-elect. The party also urged media houses to be fair in hearing all the parties involved in the election, saying that selective treatment of issues is a denial of fair hearing for correct public judgment. A statement by the party’s Publicity Secretary, Taiwo Olatunbosun, denied the charge that APC was engaged in votebuying during the election, explaining that the party did not join in the despicable act of vote-buying through inducement to con the people of Ekiti by Governor Ayodele

Fayose and PDP candidate, Prof Olusola Eleka. “Fayose and Eleka are known for throwing tokens at our people from the resources of the state, using the instrument of government. They believe that is what their loyalty is worth and they never had any plan to lift them beyond the poverty level. “The return of Fayemi as governor of Ekiti State is a signal that God still answers the prayers of his people whenever they are under torture. The victory signals an end to poverty, squalor and oppressive tendencies of a mindless government who shamelessly refused to pay workers their dues, yet could afford to credit the accounts of voters and some sections of workers with amounts ranging from N3,000 to as much as N100,000 just to curry their voting favours,” he said.

Also reacting to the allegation of vote-buying, the PDP said no circumstance would push it to descend to vote- buying in any election, no matter the machination of the APC.. In a statement issued by the National Publicity Secretary, Kola Ologbondiyan, the party said it never bought any vote in the July 14, 2018 governorship election in Ekiti State like the APC did, saying the leadership of the party would never allow such practice under any guise. “Consequently, members of the APC who are going about media houses and claiming that their party bought votes in response to some parties that engaged in such practice are certainly not responding to the PDP,” the party said. PDP rather said it spent its resources and energy on a democratic campaign that preceded the Ekiti election and

never set up kiosks for the “see and buy” of votes as the APC unabashedly did. However, the local and international observers who praised the INEC for proper conduct of the poll in line with global and constitutional dictates and standards, however, faulted the deployment of 30,000 security agents insisting that such development and conduct of some of the security operatives largely marred the electoral process. But dispelling the position canvassed by the coalition, Fayemi dismissed the report of the observer groups as a product of fabrication of the Ekiti State Government to discredit the election that returned him as winner. A statement by Wole Olujobi of Fayemi Media Office, dismissed the report as a product of fraud masterminded by Ekiti

State Government to discredit the election in which Deputy Governor, Olusola Eleka lost to the candidate of the opposition, Fayemi. But addressing newsmen on behalf of the domestic observers, Gabriel Nwambu of the Centre for Credible Leadership and Citizens Awareness, Abuja, said: “Modern democracy guarantees freedom of electorate to determine who to vote; anything against this is an usurp. Polls also should comply with globally accepted standards hence observers’ job is to access the level of compliance of electoral umpire to constitutional regulations which serve as a way to give direction for future exercise”. However, SERAP has however, requested Yakubu to “take steps within 14 days of the receipt or

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Task Force Arrests, Parades Seven More Suspects over STOCK TAKING Plateau Killings Country Director, International Labour Organisation, Dennis Zulu, and the immediate past President, Nigeria Employers’ Consultative

Seriki Adinoyi ÓØ ÙÝ

The military Special Task Force (STF) in charge of security in Plateau State has paraded additional seven suspects in connection with recent attacks in Barkin Ladi and Riyom Local Government Areas (LGAs) of the state. While parading the suspects at the STF command headquarters in Jos, the state capital yesterday, the acting Director, Defence Information at the Defence Headquarters, Abuja, Brigadier General John Agie, told journalists that “l came in from Abuja today (yesterday) in continuation of our intelligence gathering and intensive investigation over what happened in the state last month. “Our troops are still after those who are involved in the attacks on June 23, and that led to the arrest of the two suspects.” He said: “Among the seven suspects are Ibrahim Choji and Ahmadu Ibrahim. These two suspects were part of those who attacked Zongo village on June 23.” “We also have three other suspects here - one Shuaibu Suleman, Buhari Shuaibu,

Zakamin Abdulkadri, these ones were part of the suspects that attacked Josho village of Bokkos on July 14. “After this parade, we are going to hand them over to the police for further investigation and prosecution,” he added. “Meanwhile, our intelligence is working round the clock in the villages to fish out these attackers, and as soon as we get them, we will let the public know, and they will be treated according to the law. “We had paraded 11 suspects before now, and here we are parading another seven suspects, and all of them are in connection to the attacks. So we have 18 suspects so far.” Ahmadu Ibrahim, however denied ever participating in the said attacks, claiming that he was arrested on his way from a cattle market in Bukuru. Meanwhile, the recent attacks in the state have divided the state along ethnic lines, with the Coalition of Plateau Patriots, a pressure group in the state, blaming the Berom ethnic group over last Saturday’s attack on Lalong during his visit to the camp of the IDPs.

Assembly/former Group Managing Director/CEO, UACN Plc, Larry Ettah; during the association’s 61st Annual General Meeting (AGM ) in Lagos…yesterday

2019 Presidency: Time will Determine My Ambition, Says Saraki Hammed Shittu in Ilorin Against the speculations that he might join the presidential race ahead of the 2019 general elections, the President of the Senate, Dr. Bukola Saraki, yesterday declared that time would determine his political future. Saraki, who spoke to journalists at Ilorin International Airport shortly after arriving in Kwara State for the first time after his victory at the Supreme Court which discharged and acquitted him of alleged false assets declaration pressed against him by the federal government, said a time would come when he would make his position known to Nigerians. There were speculations that he was planning to

decamp to the Peoples Democratic Party (PDP), the party he dumped to form the All Progressives Congress (APC) before 2015 elections. Saraki was believed to be having a strain relationship with the APC leadership despite ongoing rapprochement. He arrived in the state aboard aircraft marked N880ET, which landed at exactly 4:13p.m. in company of the Speaker of the Kwara State House of Assembly, Dr. Ali Ahmad; Kwara South Senator, Dr. Rafiu Adebayo Ibrahim; a member of the House of Representatives, Hon. Razak Atunwa, and a former Senior Special Assistant to President Goodluck Jonathan on Public Affairs, Dr. Doyin Okupe.

He said his visit to the state was aimed at appreciating the people of the state, including traditional and religious leaders, for believing in his innocence and the support given to him while the trial lasted. The Senate president said it was a great feeling that truth prevailed and justice was done to the matter. According to him, “It’s been a long journey for my own people in the state, and today, we thank the Almighty God for this. I particularly thank those who did not at any time waiver; they believed in my innocence, and supported me throughout those three very tough years, and it was great feeling for all of us. “It is my first home coming, and I thank them

for all the support they have given me for the victory, and for the fact that the truth prevailed and justice was done.” When asked that people were desirous to know his next political ambition and defection plans to PDP, Saraki simply said: “Today is a day for me to visit the people, and more importantly, thank the people for the support they have given me for these years. As I always say, time will come for everything; a time will come for me to tell people where I am, what I’m doing. “For now, it is just to thank the people of the state because the last three years had been tough, and they are still committed, so I have to appreciate that. I will call at a time and tell Nigerians my next plan.”

T H I S D AY ˾ WEDNESDAY JULY 18, 2018

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COMMENT

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

THEVALUE OF HUMAN LIFE

Sonnie Ekwowusi writes that the young footballers’ rescue in Thailand holds lesson for Nigeria

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ecently 12 young Thai football players together with their 25-year coach were trapped in the Tham Luang Nang Non cave in Chiang Northern Province of Thailand. Despite intractable rescue challenges, a combined team of international expert cave divers eventually rescued these young players and their coach alive. The dogged determination of these expert cave divers in rescuing these young lads at the risk of their lives, in my view, testifies to the premium placed on human life. The rescue operation was an exercise in bravery, courage and love for humanity. The cave divers said that even though they knew they were risking their lives, nevertheless they were spurned on in order to rescue the missing boys and their coach. Boethius described the human person as an individual substance of a rational nature. The human person is not an animal to be killed anyhow. Neither is he a mere quantity of flesh. The human person is a unity of body and spiritual soul. In fact, one single human life is worth more than all the material wealth in the world. One of the greatest American Congressmen who lived was Henry Hyde. He died aged 83. He left a lasting legacy in the American Congress. During one of the debates on the floor of the House on the killing of the unborn, Hyde was at his eloquent best as could be gleaned from the following lines: “This is not a debate about religious doctrine or even about public policy options. It is a debate about our understanding of human dignity, what it means to be a member of the human family. Our moment in history is marked by a mortal conflict between a culture of life and a culture of death. God put us in the world to do noble things, to love and to cherish our fellow human beings, not to destroy them‌.â€? In the same vein, the rescue of the 12 young Thai footballers and their coach shows the understanding of human dignity and the cherishment of our fellow human beings. Perhaps the closest demonstration of that cherishment was the incredible rescue of 33 Chilean miners in 2010. You will recall that on August 5, 2010 the San Jose mine in Western Chile, caved in and trapped 33 Chilean miners beneath its grotto (about 700 metres or 2,300 feet below the land surface). Some 17 days later, precisely on August 22, a heart-warming red-pencilled message: “estamos bien en el refugio los 33â€? (the 33 of us are safe in our confinement) sent by the trapped miners emerged from the underground and threw the whole world into frenzy joy. Similarly the families of the trapped Thai footballers and the whole world were ignited with joy after the footballers were rescued alive. The framework of solidarity erected in rescuing the boys is being applauded as the best international solidarity ever witnessed in the world. Almost 60 countries came together in solidarity to ensure that the boys and their coach were rescued alive. How did these young footballers and their coach find themselves inside the cave, in the first place? The day was June 23, 2018. After their usual football practice, the 12 young players and their coach left their bikes and football boots at the entrance of Tham Luang Nang Non cave and plunged into the cave on an expedition. But unfortunately they were all trapped in the murky dark cave overflowing with rainwater. When the sad news broke, a group of Thai Naval Seals and expert cave divers

GOD CREATED US IN THIS WORLD TO CHERISH OUR FELLOW HUMAN BEINGS AND NOT TO DESTROY THEM

from Australia, Denmark and other countries immediately converged at the entrance of the cave ready to enter to rescue the missing boys and their coach. First, the British cave divers entered the cave on June 27 as the world held its breath. After the British divers found their way into the cave, other cave divers soon joined them. Armed with ropes, stretchers, oxygen tanks and masks and emergency thermal blankets, the courageous divers swam against the current of the flowing waters navigating through the dark cave with the aid of a map to rescue the footballers. After seven days of intensive search, the search yielded result. The divers said that they “smelt� the boys and where they were trapped and immediately went to rescue them. But a tragedy struck on July 6. Saman Gunan, an ex-Naval Seal, a large-hearted lady, who had volunteered five days earlier to join the rescuers died in the course of duty. This lady has since been given a befitting state burial in Thailand. The last group of the missing boys was finally rescued on July 13 amid the ecstatic joy of their parents and relatives and the cheering Thai crowd. The Thai rescue is a triumph of the human spirit. It teaches all nations the intrinsic worth of the human person. For us in Nigeria, it teaches a greater lesson. The killing of our fellow human beings ought to diminish our own existence. But unfortunately we have gotten accustomed to shedding of human blood in Nigeria. When a group of barbarians goes about murdering innocent citizens and setting their houses ablaze we laugh it off as if nothing had happened. The paradox is that despite the high religiousity in Nigeria all kinds of atrocities especially the murder of innocent citizens is being committed every day. In Nigeria the churches and mosques are always swarming with a sea of human heads. The name Jesus is practically on the lip of the average Nigerian. Yet they are wicked. They do evil. They do not help the oppressed. Their hands are stained with blood. They have no value for human life. They use the name of God in vain. It is interesting that the rescuers of the 12 Thai boys and their coach did not start calling on God or for miracle when they assembled to rescue the boys. They applied their intelligence to their rescuing efforts and through that application of their intelligence God saved the boys. In Nigeria it is exactly the opposite. They use the name of God to cover up for their atrocities and avoidable human failings. There are no rescuers of life in Nigeria anymore. What we have are destroyers of life. Adherents of a religion go about killing and maiming their fellow human beings all in the name of a religion. For me, any religion that subscribes to violence and murder is a satanic religion. As Henry Hyde rightly observed, God created us in this world to cherish our fellow human beings and not to destroy them. As the 2019 Presidential election approaches, the Nigerian voters should be very discerning. They should vote for the candidate who will protect their lives and property. We have learnt our bitter lessons. We made a great mistake in 2015. Didn’t we? Once beaten twice shy. We cannot afford to produce anyone who can neither protect lives nor property.

TAKEAWAYS FROM THE EKITI ELECTION In Ekiti, the politicians came, they promised and they paid, writes Obinna Iroegbu

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ow that the Ekiti election is over and all cast votes have been counted, I pray for peace, prosperity and progress of the state. I do not by any stretch of will or innate desire wish that any calamity should befall my state. Ekiti is where I have so far lived for nearly 20 years. It is where I have earned my bread and where I have consistently paid my income tax, without a single breach, for more than 18 years. Therefore, although others far away in their comfort zones may wish the worst for Ekiti, I reject their wish (by fire) and counter it with a prayer of peace and prosperity. I have no other option or any desire but to do this. Four years ago, when he ran against the incumbent governor and lost, the present governor-elect accused the former of having bought the electorate cheaply with a few grains of rice. His accusation gave rise to the catch-phrase, stomach infrastructure. Today, with the result announced, and based on what obtained before and during election, it is quite evident that the governor-elect learned not a few lessons which motivated his perfection of the system and getting the electorate carried along by ‘the rules of the game’. As it is, he has clearly demonstrated that he has learned the ropes and has been able to conquer with an arsenal more lethal and effective than Fayose’s few cups of

rice. The present election, in more ways like that which took place four years ago, was, by local standards, quite free and fair. Other people from far or near climes may hold a different view, but if election in Nigeria is, as posited by no less a person than a former sitting president, ‘a do or die affair’, it follows that it is war. And, if election is war, it then follows that what obtained in Ekiti was very fair. Is it not said that ‘in war everything is fair’? There may have been pockets of negligible skirmishes; at least, at Temidire polling unit which is not far from where I cast my vote, there was an issue of attempted ballot snatching. A winner truly emerged based on the number of valid votes cast and counted. It would amount to a bare faced super hyperbole for anyone to say that all eligible electorate in Ekiti participated directly in the electoral process that gave rise to the emergence of the current governor-elect. Truly, not everyone had the PVC voted. The total number of votes cast is quite far below the total number of registered voters. Nevertheless, it would amount to a lack of understanding to hold that those who participated in the election do not represent the majority or entirety of the state. Thus, a greater majority certainly had a firsthand apprehension of what transpired on the day of the election. In other words, we Ekiti came, we saw and we know what happened. “What

happened?� This was the question a friend of mine asked in an unveiled derision and gloating. I simply answered and said, I know the federal government has a clear mandate to fight corruption. Ekiti, by the result of this election, is fully aligned with the government at the centre and therefore would never be in the dark as to what it meant to “fight corruption�. No single Ekiti electorate shall henceforth claim ignorance of what corruption or the fight against it meant. I did not know whether my response was apt enough to deliver the appropriate message to a gloating friend with whom I witnessed what obtained at the polls in Ekiti. At Ikere, where one of the major contenders hails from, the price for a print of the thumb was as high as N20,000 in some highly competitive quarters. At Ado, it was less and in the neighbourhood of N10,000 and N12,000. Where I voted, an idyllic suburb of Ikole metropolis with a substantial presence of a settler farming clan from Kogi State, the rate was a flat N5,000. You thumb print and you are paid without bargains. And trust the peasant farmers, the five thousand grand from the highest bidder was more attractive than the contending party’s proposal of ‘thumbprint and be promised’ (N3,000 after the election because they ran out of cash while trying to compete) as if they knew they were going to lose the election. In all this, it might be easy to miss out the

point with respect to who the true winners and losers are. The people are the winner if we must factor-in the quite significant reality that they are now wiser than they used to be in matters pertaining to ‘the fight against corruption’. Every Ekiti electorate needs not be told what ‘fighting corruption’ meant because they are firsthand witnesses to the process which would usher in the man who would have the programme domiciled in their state. It is a win-win situation for the people and the elected. The elected won his mandate but the people are never the loser, after all, every voter got richer by five or twenty thousand. Now that it is possible to transfer or switch voting points, with adequate permutations, a shrewd electorate should hazard a guess as to how best to make more money through their choice of voting points. Conversely, the nation is the loser. The nation is the loser because her leadership has once again failed her. The nation has been failed because her leadership has chosen rather to perpetuate the practice of perfidy in relation to elections. This failure would, no doubt, affect all other facets of the socio-economic life of the people. In Ekiti, the politicians came, they promised and they paid! The people, they watched, they played by the rules and they know! God save the nation! Iroegbu, a scholar, wrote from Ikole-Ekiti, Ekiti State

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T H I S D AY WEDNESDAY, JULY 18, 2018

EDITORIAL THE SCOURGE OF HUMAN TRAFFICKING The authorities should address the problem of poverty

O

f the around 700,000 persons trafficked across the world every year, Nigeria’s notoriety in the act has become an issue of international concern. Thousands of young Nigerian girls are routinely trafficked to Europe and Asia for sexual exploitation. Sadly, the concern over the menace of human trafficking in the country goes beyond the shores of Nigeria as the United States has accused the federal government of failing to do enough to put the scourge under control. On 30th June 2018, for instance, a 51-year old Edo State-born Nigerian woman, Josephine Iyamu, was convicted in the United Kingdom for trafficking five girls from her homestead of Edo to Germany for sexual exploitation. Ms Iyamu, a nurse in Britain and the first person to be convicted under the UK anti-modern slavery law was formally jailed on 4th July. She had before her arrest and trial compelled her many trafficked victims to swear to oaths that they would deposit all their earnings with her once they started working. Some of the rituals she reportWE IMPLORE THE SECURITY AGENCIES TO edly performed on DEPLOY THE REQUISITE her victims included eating chicken hearts INTELLIGENCE and drinking blood THAT WILL HELP IN containing worms, FISHING OUT THE and powdering incisions. PERPETRATORS AND Iyamu’s conviction PUNISH THEM IN was preceded by the ACCORDANCE WITH THE earlier sentence of LAW another Nigerian, Franca Asemota by the UK Crown Court to 22 years imprisonment for attempting to traffic some Nigerian girls to Europe through the London Heathrow Airport. Asemota, who was arrested in Nigeria and extradited to the UK for trial, was convicted of a 12-count charge of sexual exploitation, trafficking in persons outside the UK and engaging in unlawful immigration, among others. In the last one year, the International Office of

Migration (IOM) has spent huge sums of money to evacuate back home hundreds of Nigerians most of whom were trafficked to Libya enroute Europe with promises of better life. Several of them lost their lives while those who survived went through anguish and trauma before the federal government came to their rescue. These were aside the uncountable numbers of Nigerians who regularly lose their lives on the Mediterranean Sea while being trafficked abroad or engaged in illegal migration. Meanwhile, several young Nigerians are also being trafficked within the country by money mongers who recruit them from poverty-stricken homes in rural areas with promises of improved living standard or access to education in the city.

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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

ictims of human trafficking and illegal migration often go through physical and psychological trauma as they must always be at the beck and call of organised patrons from the traffickers without any freedom of objection no matter their level of grief. Those trafficked abroad neither have peace of mind nor desirable happiness, yet they often live under the threat and fear of deportation with little or no savings of their own. At the root of human trafficking in Nigeria is endemic poverty which has been a veritable tool in the hands of traffickers to lure their victims into illicit jobs with promises of improved living. Several of those recently evacuated from Libya narrated how frustration forced them into the journey. We thus challenge the federal government to address the prevalent poverty ravaging the land and offer meaningful hope of livelihood to frustrated young Nigerian men and women who are often victims of trafficking. We implore the security agencies to deploy the requisite intelligence that will help in fishing out the perpetrators and punish them in accordance with the law to serve as deterrence to others. We also task the National Agency for the Prohibition of Trafficking in Persons (NAPTIP) to live up to its responsibilities by engaging in massive enlightenment campaigns against trafficking, particularly in the rural areas of the country where this scourge is now prevalent.

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.

Letters to the Editor

RUSSIA 2018: THE‘WAR’IS OVER

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midst a most stunning ambiance, the 23rd edition of Federation of International Football Associations (FIFA) World Cup, tagged Russia 2018, came to a scintillating close on Sunday, July15 at the 81,000 capacity Luzhniki Stadium, Moscow. In the past one month, football fans across the world have watched with great excitement as 32 nations locked horns for the coveted 18 carats gold FIFA World Cup trophy. The closing ceremony of the Russia 2018 World Cup was as exhilarating as the entire competition itself. Famous Nollywood star, Will Smith, US-born singer Nicky Jam, Russian opera, singer Aida Garifullina, legendary Brazilian soccer idol, Ronaldinho and German 2014 World Cup winning captain, Philip Lahm, were part of the galaxy of stars that added colour, splendor and elegance to the closing ceremony of what many have termed a most breathtaking World Cup. FIFA President, Gianni Infantino, Russian President, Vladimir Putin, his French and Croatian counterparts Emmanuel Macron and Kolinda Grabar-Kitarovi (what a dazzling and charming woman!) were among world leaders that witnessed the last match of Russia 2018. The final match of the championship between France and Croatia was as impressive, action packed and spectacular as almost all the 64 matches witnessed at Russia2018. In the match that recorded six fascinating goals, the French national team came top by trashing a resilient and toughened Croatian side 4-2. With this victory, and hav-

ing won her first World Cup title in 1998, France has now recorded a second triumph at the elite global soccer fiesta. Interestingly, the victory has equally put French coach, Didier Dechamps, in the league of Brazilian Mario Zagallo and German Franz Beckenbauer as those who have won the World Cup as both a player and a manager. Since Uruguay hosted the first edition of the World Cup in 1930, during the era of revered FIFA President, Jules Rimet, the competition has continued to grow in leaps and bounds. From a 13 team event, with which it started in 1930, it grew to become a 32 team affair during the1998 edition in France. Today, the World Cup commands a global TV audience in excess of one billion. The 2018 Russia World Cup is particularly unique in many ways. For one, through the introduction of the controversial VAR (Video Assistance Referees), it is the first World Cup in which technology was deployed to assist referees in making crucial decisions. VAR is seen by many as a worthwhile invention that would ensure fairness by reducing human errors usually associated with football officiating at the highest level. Another uniqueness of the Russia 2018 is in the flawless manner of its organisation as well as reported hospitable temperament of Russians who were really good hosts. Prior to the eventual take off of the competition and based on certain stereotyped tales that were in circulation about Russia, many have doubted the ability of Putin country to host a memorable and eventful World Cup. But then, events of the past month have proved cynics wrong as the Russians have not only hosted a great Mundial, but have also razzmatazzed the

whole world as regards the exquisiteness of their country. In terms of security and safety concerns, Russia 2018 also proved to be an incredible event. The initial fear of many about the event bothered on the safety of visiting soccer fans across the world at Russia. As things eventually turned out, there was no major security breach worthy of note throughout the duration of the competition. Fans’ hooliganism was completely out of the equation. The usually cantankerous German and English soccer fans strangely turned a new leaf at the Mundial. Hence, at Russia 2018, worry over fans hooliganism was simply not a major concern. In terms of footballing stuff, more than ever before, Russia 2018 has shown that football is more of a team event, and as such, individual brilliance and talents no longer count for too much. For instance, the Croatian, Japanese, Korean, Iceland and a few other national teams that came up with a closely knitted side thoroughly passed home the message that football is no longer about the number of superstars that are in a team but about how well a team plays together as a unit. In particular, the Croatian team that got to the final amply exemplified teamwork as a major base for success in football as it got that far in the championship not on the basis of the individuality of its players but on the strength of joint effort. Unlike the Brazilians, Argentines and other such teams that depended mostly on the strength of their individual players to thrive at the championship, the Croatian team is an amazing study in team solidarity and group effectiveness. Tayo Ogunbiyi, Lagos State Ministry of Information and Strategy, Alausa, Ikeja

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MIDWEEKPOLITICS

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

THE NEWSMAKER

This Second Chance is Worth the Risk Ekiti State Governor-elect, Dr. Kayode Fayemi has demystified outgoing Governor Ayodele Fayose by winning the governorship election last weekend, Shola Oyeyipo writes

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oing by Ekiti State Governorelect, Dr. Kayode his famed populist strategy and character, outgoing Governor Peter Ayodele Fayose of Ekiti State seemed indefatigable, but this supposition fell like a pack of cards when last Saturday, his anointed candidate, Prof. Kolapo Olusola was defeated in the governorship election. Apart from his political juggernaut facade, Fayose’s unbridled vituperative attacks on the likes of former president Chief Olusegun Obasanjo, President Muhammadu Buhari and his party, the All Progressives Congress (APC), his continued assurances that he would determine his successor, made the Ekiti election interesting to many. So, last weekend, the attention of Nigerians was on Ekiti State where former governor and Minister of Mines and Steel, Dr. Kayode Fayemi slugged it out with the PDP candidate, Olusola. But Fayose’s image was so towering that the aspirant himself was hardly seen or known. For Fayemi, it was a different ball game. He was certain that his meritorious performance during his first term would find favour with the people. Therefore, he could not understand how he lost the 2014 governorship election. In the end, he blamed his loss on the brutish deployment of ‘federal might’ by former president Goodluck Jonathan’s men. To him, there was no election in Ekiti in 2014. Ordinarily, underrating Fayemi could have spelt doom for the ruling PDP. By any means, he could not described as an underdog. As a former lecturer, journalist, researcher and Strategy Development adviser in Nigeria and the United Kingdom and a former Director of the Centre for Democracy and Development - a leader of the Nigerian opposition to military rule in exile, Fayemi founded and managed the opposition radios – Radio Freedom, Radio Democracy International and Radio Kudirat and played a central role in the opposition’s diplomatic engagements in exile. His wife, Mrs. Bisi Adeleye-Fayemi, is also not a push over at local, national and international levels too. She is a renowned activist, writer and policy advocate, who co-founded the African Women’s Development Fund (AWDF), the first pan-African grant-making organisation and she serves as a UN Women Nigeria Senior Advisor, and was appointed as a Visiting Senior Research Fellow at King’s College, University of London in 2017. She is Principal Partner, Amandla Consulting, and runs an online community called abovewhispers.com. When Fayemi took office as Governor of Ekiti State, she became actively involved in policy advocacy, grassroots empowerment and social inclusion programmes and led the campaign to enact a gender based Violence Prohibition Law (2011) an Equal Opportunities Bill (2013) and a HIV Anti-Stigma Bill (2014). With their combined influence, the two of them actually wield considerable political powers in Ekiti and Nigeria at large. Though the contest was between Fayemi and Olusola, Fayose was the marked arrowhead of the PDP campaigns. The Ekiti Governor was poised as an open enemy of the President Buhari-led APC administration. He even said if he presented a candidate from his family, Ekiti electorate would vote for the person in order to show support for his style of governance. To Fayose political influence could be exerted through fraternising with the people by buying and eating roasted plantain by the road side, eating with commoners in ‘mama put’ restaurants and frying garri with others. Last year, when he made his intention to

Dr Kayode Fayemi

vie for presidency known, Fayose said having defeated two incumbents in his state, he was sure of defeating even President Buhari at the general election with the support of the PDP. He also said as Nigeria’s longest-serving governor who worked under former presidents Olusegun Obasanjo, Goodluck Jonathan and now Buhari, he had what it takes to emerge Nigeria’s next president. “Twice, I defeated incumbents to become the governor of Ekiti State and I am confident that with your support as my party leaders and supporters, I will defeat the incumbent President Muhammadu Buhari, in a free and fair election,” he told PDP leaders last year. Even on the eve of the election, Fayose continued boast. He was cocksure of victory. He reiterated: “With all humility before Ekiti people, if I support anybody, whether it is

Fayemi founded and managed the opposition radios – Radio Freedom, Radio Democracy International and Radio Kudirat and played a central role in the opposition’s diplomatic engagements in exile

from my household, they will still support that person.” But Fayemi talked rather sparingly. He didn’t boast as Fayose did. Banking on his antecedents, he took his campaign to the nook and crannies of the state. He cleverly pointed out the errors in Fayose’s government and vowed to reverse the negative narrative about Ekiti State and that paid off for him. For those close to the soft-spoken Fayemi, it was obvious that he would return as governor. He was confident that the people had gone through so much pain under the Fayose-led PDP government and they would compare between Fayose and him; to draw a conclusion in his favour. Fayemi told whoever cared to listen that the PDP-government in Ekiti was a product of fraud and that it did not care about peoples’ welfare, particularly considering that civil servants had not been paid their salary in eight months. Those were the messages he took to the people. He also assured them of a more cordial relationship with the federal government rather than the hostile and less productive grandstanding of Fayose. Fayemi also reminded the electorate that under his former regime, Ekiti State moved from Number 34 to Number 5 on the World Bank Ease of Doing Business ranking. He also pointed to the DFID assessment of governance, which ranked Ekiti as the state with the most transparent budget. He pointed to the investment that his administration put into Ikogosi, with the aim of giving a boost to tourism. These are some of the issues that shaped the eventual outcome of the July 14 election. In the build up to the election, Fayemi told journalists that, “People who visited Ikogosi when I was governor can attest to what we did and those were the kind of things that would draw people to our state. Ekiti became a

kidnappers den when I left office. So, security in the state was compromised, accountability was compromised, government was also compromised because what we had was a one-man show, it was not government of the people by the people and for the people.” Relying on his past records and insisting that the just concluded election was a referendum on his achievements as former governor, Fayemi presented the APC and himself as credible alternatives to lift up the weak and vulnerable people in the state. He vowed to implement corrective measures that would grow the economy, improve the development of the state and then bring good living standard to the people more abundantly. The election has come and gone. A winner has emerged. The losers are licking their wounds and counting their loses. Obviously, Fayose’s PDP is not happy about the outcome. The governor’s party described Fayemi’s victory as a product of ‘poll robbery,’ and they have threatened to seek legal redress to reclaim what it tagged “stolen mandate.” Nobody knows what the outcome of the legal process will be. It is still in the realm of speculation. The talking point now centres on how Fayose intends to manage the remaining few days of his administration. Everyone is watching what will become of him after he leaves government and his immunity comes to an end. Having dared the lions in Aso Rock Villa, many people think, he sneak out of the country, rather than stay back and face the consequences of his actions and his inactions, some of which may land him behind bars. Already, Fayemi has given a hint that he will probe the Fayose administration. Some of the lawmakers he chased out of the State House of Assembly at the onset of his government want him impeached before his tenure ends and that he should be brought to justice speedily.

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POLITICS

Favoured by the Orisa Jacob Olupona, Harvard University Professor, extols the fine qualities of Wande Abimbola, Professor Emeritus and former Leader of the Nigerian Senate, who turned 85 recently Stomach and amala politics have taken over our lives to the extent that there is no peace in our land. The root of our crisis as Abimbola has shown is our lack of interest and faith in our traditional knowledge. Do not be mistaken that I am calling all Yoruba people to the worship of the Orisa.

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he Awise Agbaye, Professor Wande Abimbola has, by the benevolence of the Orisa and Olodumare, attained the ripe age of 85. More significantly, he has achieved what is considered the three blessings of life in Yoruba cosmology: the blessings of children, long life and prosperity. He achieved all three to a remarkable degree and should be considered highly favoured. We need to examine what his life means for the Yoruba people and Nigerians, the world community of Orisa devotees, and what it represents for the tradition he embodies, which is Yoruba traditional religion and Ifa divination. He is among very few scholars and leaders of thought who have unapologetically laid claim to these traditions and proven beyond any reasonable doubt that Yoruba religion is alive, works, and demonstrates what Yoruba religion and culture could be for our society if not for the intervention of Western culture, Christianity and Islam. Yoruba traditions have nothing to do with the accusations leveled against occultism that many perceive to be the tradition itself. In the real sense of the term, Yoruba traditions uphold the highest moral standards in the practice of religion in our society today, particularly when compared with other world religions. Abimbola is a native of Oyo and was steeped in Orisa traditions from his birth as his father was the leader of the hunters’ guild and his mother an important title-holder within the worship of Sango, Yoruba divinity of thunder and lightning. Born on December 24, 1932, Yoruba traditions have been a part of his life. His mother was plagued by what the Yoruba call abiku or a child who is born and subsequently dies only to come back and die again. His family followed all the necessary stipulations to break the abiku cycle, and at the early age of four, Abimbola began his study of Ifa. He was also the first in his family to seek Western education, and found truly impressive success in that area, first by studying History at the University of Ibadan, and eventually traveling to Northwestern University in the US for a Master’s in Linguistics and becoming the first PhD in African Languages and Literature granted by the University of Lagos. Abimbola is of course also famous for becoming one of the most beloved and successful ViceChancellors in the history of Obafemi Awolowo University (formerly the University of Ife), and has also held several other prominent positions such as Senate Majority Leader, President of the Orisa World Congress, and adviser to President Obasanjo on Traditional Matters and Cultural Affairs, not to mention his work with UNESCO on Ifa and of course his famous title as Awise Agbaye, the spokesman of Ifa to the world. His life is truly impressive and there are lessons to draw from this towering figure. We will examine his life through several lenses: as an educationist and intellectual, as a devout servant of the Orisa and as a leader of thought and champion of the proper practice of Yoruba culture. Educationalist and Intellectual Abimbola’s work has greatly enhanced the standing and practice of Orisa traditions not only as a religion of the Yoruba of Nigeria where it is less publicly-practiced, but many other societies all around the world including Benin, Cuba, Brazil, Trinidad and Tobago, the USA, and several others. Through his work, the stone that the Yoruba builders have refused became the cornerstone in many other places around the world. Abimbola’s work and publications have become living canons. More than that, he has also shown us how to reconstruct scholarship in indigenous terms. As extensive as his written body of work is, he still has a lot on Ifa in his head to offer. This is a reminder on how much we have missed as Africans in our emphasis on written and European forms of knowledge. As we examine the increasingly poor performance of our students in the educational sector today, as Prof. Sophia Oluwole, a philosopher of significant scholarship, has reminded us, when a child is taught in the

Prof. Wande Abimbola

mother tongue, he or she grasps the material much more readily. Until we acknowledge and take action on this fact, our children will continue to perform poorly in national and global examinations. We also must discuss Abimbola’s life as a VC at OAU. He served for two successful terms without any crisis on campus, and is viewed as one of the most productive, perhaps after Oluwasanmi’s reign. While most people have explained this in the terms of saying he was using juju or oogun, the truth is that it was rather due to his employment of native wisdom, having its roots in his mastery of the deep Oyo and Orisa traditions. Another assessment of Abimbola as an individual is how an Oyo indigene has managed to champion the Ifa tradition in Ile-Ife. This is a true mark of his astuteness. I remember his relationship with the late Ooni of Ife, Oba Sijuade Olubuse II and his pivotal role in elevating the status of Oketase and the Ifa tradition outside of Nigeria in both the public and academic arenas. Abimbola studied under Prof. Babalola at UNILAG and came to Ife where he joined other scholars such as Sope Oyelaran, Pierre Verger, Akinwumi Isola, and a host of others to build the African Languages and Literatures department where the Yoruba language was taught and used for people to write PhD theses. The several faculty positions, not to mention the many PhDs, numerous courses, and excellent research that have been done on the Yoruba language and its cultural usage can all be traced back to this important figure and his colleagues mentioned above. Realizing that for the future of Ifa, it would be important for it to be integrated into modern educational institutions, he went and founded an Ifa Academy in Oyo which is funded by UNESCO and the Nigerian Federal Government and structured around both Ifa knowledge and Western education in similar fashion to the Islamiyya schools developed by Muslims in the past. In the Yoruba tradition we used to praise some Muslims clerics and elders as Akewu-kawe for their mastery of Islamic and Western education. Abimbola is producing scholars in this same vein. He has mastered Western education and went through one of the most prominent Baptist high schools, and in this sense I believe we could identify Abimbola as one of the very first Akofa-kawe. We should not consider the study of Ifa as

limited to the worship of the Orisa, but it includes indigenous education, indigenous medicine and healing, and other forms of knowledge that have sustained our ancestors for centuries before Islam and Christianity came. Whether we are Traditionalist, Christian, or Muslim, we all have Wande Abimbola to thank for having preserved, demonstrated, and promoted this cultural patrimony. Only last month, a young Nigerian graduate asked me why the Yoruba with all the boastful history and knowledge of tradition cannot stop the menace of the herdsmen who are increasingly rampaging their farms and villages. If more people were to have followed Abimbola’s example, perhaps this question would never have been asked in the first place. Servant of the Orisa Now we will look at Abimbola’s role in the service of the Orisa. He has given Orisa traditions the status they deserve in the world parliament of religions. His position has taken him to different faith centers around the world, including Rome, where he has participated in global conferences on religion so that he could speak about African indigenous traditions. I recall in the 80s when I was still a lecturer at Ife, at many of the conferences we attended in places like Seoul, Tokyo, Puerto Rico, Portugal, and many others, he gave the keynote addresses because he was recognised as the voice of African religions all across the world. Abimbola is also a remarkably charismatic man whose presence thrills those around him, and every moment and encounter with him is an opportunity to learn new things about Yoruba tradition and culture. Without necessarily being his student, many of us, including Olabiyi Yai, Rowland Abiodun, Karin Barber, Babatunde Lawal and a host of others regard him as a mentor. He has a unique ability to pass on knowledge in the traditional Yoruba fashion in bits and pieces only after one has proven him or herself ready and worthy to receive and carry it. One such moment I shared with him was at Sacramento, California at a conference organized by the Yoruba Heritage Association. We went for lunch with him and some of his fellow diviners. At a light moment, we were discussing Orisa traditions, and he chose to tease me by saying, “Akowe, what is your Orisa?” While one may think that he did so to embarrass me, knowing that I am the son of an Anglican priest, this was

not the case. My response to him was “Baba, how can you ask me for my own Orisa when you know very well that I am Kehinde and thus an Orisa myself?” All of the Babalawo began to laugh, and Prof. Abimbola said, “Did I not tell you about Akowe and his knowledge of Orisa tradition?” Abimbola was also able to cultivate wonderful friendships over his illustrious career. One such friendship was with Prof. John Pemberton, a distinguished Professor of African Arts and Religion at Amherst College, USA, who came to Yorubaland to conduct excellent research as a result of his relationship with Abimbola. In this way, apart from his own devotion to the Orisa, Abimbola has been of central importance in identifying and encouraging other scholars to promote the research and understanding of the Orisa both in Yorubaland and abroad. Prof. Abimbola is also a living example that disproves the common perception that our ancestral traditions are backward and incompatible with modernity. How many people can claim as fine an academic pedigree and career as Abimbola? How many have achieved as prominent an international standing, reputation, and recognition? How many have had as strong an impact on not only Yoruba but Nigerian and world culture? Not only was Prof. Abimbola able to accomplish as a Babalawo what few if any others have, his practice and knowledge of Ifa and Orisa traditions is precisely what allowed him to have such a positive impact on the Yoruba people and the larger world. What other proof of his being a truly blessed life do we need? As we celebrate that fact that he has achieved the blessing of long life, and for the blessings of children we would look no further than the fact that his own son Kola Abimbola has become a natural heir apparent to his father’s academic and priestly role as he is an accomplished Professor in his own right at Howard University. Champion of Yoruba Culture As we look at what is happening today in the Yoruba community, it is very clear that unless there is a cultural revolution, we will not only loose our status within the country itself but we will become a nation who has been taken over by those who claim to have superior culture. Because we have failed to take seriously some of the warnings of Abimbola, we are increasingly becoming second class citizens in our own spaces. Our children no longer speak our language properly, we have lost faith in the power of tradition to save us, our homes have now been made the domain of foreign cultures that are so hostile to our worldview, partially because we conflate idolatry and occultism with the proper practice of traditional culture and religion. · Olupona is Professor of African Religious Traditions, Harvard Divinity School and Professor of African and African American Studies in the Faculty of Arts and Sciences NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

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FEATURES

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

Battling Nigeria's Ecological Problems While the memory of the 2012 flood that ravaged the country, leading to loss of lives, farmlands and homes, remains fresh, the erosion control measures embarked upon by the federal government through the Ecological Fund Office will, no doubt, bring succour to many affected communities. Adedayo Akinwale writes

Erosion control project at the University of Calabar

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ith a total land mass of 923,773 square kilometres, Nigeria is blessed with abundant and diverse resources. To survive, the populace interact and exploit the natural resources of the environment and, in most cases, the resultant effect is serious degradation of the environment. It is not surprising, therefore, that the country today is faced with a myriad of ecological problems arising from the impact of these human-environment interactions and natural phenomenon. Each of the geo-political zones in Nigeria has unique ecological problems. From the North-east to North-west, North-central to South-west, and South-east to South-south, the common ecological problems affecting them include desertification, drought and increasing incidence of flooding. This situation has continued to exacerbate the magnitude and intensity of ecological problems in Nigeria. Without doubt, gully erosion is one of the major ecological problems facing Nigeria, especially in the east. However, the current reality on ground shows that no region in the country is immune to the severity and persistence of the gully erosion menace, which is now assuming a monstrous dimension in the country. Ecological Fund It is not surprising that in order to

Photos: Adedayo Akinwale

tackle the menace holistically, the federal government during the Shehu Shagari administration established the Federation Account Act 1981, which led to the establishment of the Ecological Fund (EF), which is meant to serve as a pool

Let me underscore the present administration's determination to continue with the implementation of all genuine government policies, agreements and contracts at both national and international levels entered into by the previous administration

of funds to be exclusively devoted to solving ecological problems. Every month, the 36 states of the federation and the local government areas are allocated their respective shares expected to be solely channelled towards tackling ecological problems, thus complimenting efforts by the federal government. Worthy of note is that the federal government share of the fund is managed by the Ecological Fund Office. Disconnect However, there is said to be a disconnect at the state government levels as the objective of creating the ecological fund has not always being faithfully adhered to. Already, the public has been inundated with accusations of alleged wanton mismanagement of the fund at the state level. To make headway therefore, the disconnect among the three tiers of governments in adopting a holistic approach that will provide desirable working solution to the problem of sustaining environmental development, needs to be addressed. Erosion control In spite of the teething problems, and as part of its effort to give further impetus to tackling the ecological problems ravaging the country, the Ecological Fund Office (EFO) embarked on 18 erosion control projects across the six geopolitical zones

in the first quarter of 2017. While most of these projects have been completed, commissioned and handed over to various host communities, others are at various stages of completion. States where the projects have been commissioned include; Abuja, Osun, Oyo, Benue, Gombe, Adamawa, Taraba, Plateau, Abia, FCT, Bauchi and Calabar. While commissioning the N750 million erosion control project at Veritas University, Abuja, the Secretary to the Government of the Federation (SGF), Boss Mustapha, assured that the present administration will continue to implement all genuine government polices, agreements, and contracts at both national and international levels initiated by the previous administrations. He said the projects were part of the numerous control projects across the country awarded on October 5, 2017, adding that the project was initiated to prevent flooding and ease vehicular access to the communities where the projects were executed. Mustapha said, "Let me underscore the present administration's determination to continue with the implementation of all genuine government policies, agreements and contracts at both national and international levels entered into, by the previous administration laying solid foundation to our quest for virile and prosperous nation on the part of unfettered development."

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FEATURES

The Permanent Secretary EFO, Ms. Habiba Lawal , said the completion of the projects at various communities would enhance the living standard of the people and at the same time reduce danger to lives and property associated with erosion and persistent flooding that had been experienced in the communities in recent times. Lawal said that the federal government received quite a number of requests regarding the need and desirability of embarking on the project as a result of imminent danger posed by devastating recurring erosion and flooding that have being threatening the lives and property of various communities in the country. The permanent secretary noted that the risk of flooding and erosion and its negative consequences necessitated the prompt intervention of the federal government in effecting holistic approach to control flooding that would stand the test of time. Lawal stressed, "It is our conviction that this project intervention will provide succour to the communities whose lives and property were in danger. I have no doubt that the Local Government Authorities and indeed the inhabitants will ensure that the drainage system is not turned into a refuse dump." Dean, College of Humanity, Veritas University, Dr. Gabriel Egbe said the school will continue to remember the EFO for the intervention, adding that the intervention is a credence to the fact that the government is open to all irrespective of faith. Benue Aside Abuja, another state that got the touch of the EFO was Benue State, where erosion control took place in two local government areas. Minister of Youths and Sport, Solomon Long, while commissioning the N386 million erosion control project in Tarka and Guma Local Government Areas of Benue State, said it was part of the federal government's effort to tackle perennial flooding and its attendant threat to lives and property in communities. He said the intervention project executed through the EFO, had finally put to bed the fears of the perennial flooding and its threat to the peace of mind of the communities. According to him, "As a responsible and responsive administration, the president heard the yearning of the indigenes and approved this project as one of the 18 ecological intervention projects approved for the second quarter, 2017. Erosion and flood have been a major concern in these communities creating perennial flooding, posing an attendant threat to lives and property. "Not only is the project dear to the people of Benue, but also it is in keeping faith with the present administration’s promise that no part of the country will suffer any neglect owing to its geographical location or political consideration. "The completion of this project has further demonstrated the president’s commitment to addressing problems confronting various communities across the country." Meanwhile, the Chief of Dauadu, Oliver Kachado, said he was very happy to see this kind of project in his community, stressing that it was rare to witness the commencement and the completion of any project in Nigeria. Solution for Osun In Osogbo, the Osun State capital, the Minister of Information and Culture, Alhaji Lai Muhammed, while commissioning the N2.156 billion erosion control projects, said he had no doubt that the successful completion of the projects would enhance the holistic solutions to soil erosion and flood menace in Osogbo. He stressed that the problems of erosion and flood menace along the Okoko and Ogbagba rivers’ cannot be over-emphasised, in view of their obvious negative consequences on lives and property in Osogbo Town. He said the phase one of these triple projects which entails the channelisation and de-silting of Ogbagba and Okoko Rivers in Osogbo was at the cos of N1,257,791,992.86;

ABU lake/Dam project, Zaria

and was one of the 12 fourth quarter 2016 ecological intervention projects approved in 2016 by the president; while phase two of Okoko, which cost N463,987,000 and phase two of Ogbagba, which cost N434,991,000, were among the 18 ecological intervention projects approved by the president for the first quarter of 2017. The 2012 flood, which washed away homesteads and farmlands, forced people from their homes, and caused loss of several lives, is still fresh in memory. But the erosion control measures embarked upon by the federal government through the EFO has, no doubt, brought succour to many agonising communities.

Not only is the project dear to the people of Benue, but also it is in keeping faith with the present administration’s promise that no part of the country will suffer any neglect owing to its geographical location or political consideration

Okoko river de-silting and channelisation, Oshogbo, Osun State

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IMAGES

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

L-R: Chief Operating OďŹƒcer, Tropical Antic Logistics Limited (TAL), Prince Femi Adeniji; Group Financial Director, Empress Pat Baywood Ibe; President and Chief Executive OďŹƒcer, Emperor Chris Baywood Ibe; Non Executive Board Member, NNPC, Dr. Tajudeen Umar and Chairman, Mr. Odein Ajumogobia, during the launching ceremony of L-R; Minister of State, Federal Ministry of Agriculture and Rural Development, Senator Heineken Lokpobiri welcomes Secretary General of the African-Asia Rural Development Organisation (AARDO) Eng. WassďŹ Hassan El Sreihin in his oďŹƒce in Abuja...recently

-L-R Chief Justice,Oyo State,Munta Abimbola; Representative of Chief Justice of Nigeria,Justice Akaahs Kumai and Secretary,National Judicial Institute,Maidama Abubakar during the orientation course for newly appointed magistrates in Abuja...recently

L-R: Sales Director, Lumos Nigeria, Ojoma Okotie and Chief of Army sta, Lt. General Tukur Buratai,during the presentaton of 100 units of the customized Lumos Solar Systems to the Nigerian Army at the Nigerian Army week 2018 in Borno State... recently

R-L: Edo State Governor, Mr. Godwin Obaseki; and his Special Adviser on Agriculture and Food Security Programme, Prince Joe Okojie, at the Tropical Forest Alliance (TFA) 2020 General Assembly in Accra, Ghana... recently Some students of the Brains Premier Schools playing violin during the 13th Graduation of the school tagged ‘2018 Celebration’ in Lagos.... recently YOMI AKINYELE

L-R:Executive Director/Founder, The Color of Autism Foundation, Ms. Camille Proctor; Executive Director,Blazing Trails International Center, Dr. Anna Lamikanra; Head, Corporate Communications/External Aairs, Guaranty Trust Bank Plc, Mrs. Oyinade Adegite; Personal Assistant to Lagos State Governor on Social Development, Mrs. Joyce Onafowokan;and Director, Patrick Speechand Languages center, Mrs. Adedotun Akande, at the media brieďŹ ng on 8th annual Autism programme sponsored by GTBank Plc in Lagos ...recently. PHOTO: ETOP UKUTT

Chairman Diadem Schools, Mr. Poju Oladinni and Proprietress Mrs. Abimbola Oladinni (in the middle) anked by the 2018 graduating students of the College during their Graduation Ceremony/10th Anniversary in Lagos... recently

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BUSINESSWORLD

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

ÍŻ Ͳ Ëœ Í° ÍŽ ÍŻ Íś MONEY MARKET OBB OVERNIGHT

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CALL 1-MONTH 3-MONTH

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357.5 % 0.30% -0.13%

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

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EXCHANGE RATE ͹͎ͳ˛͜ʹ˚ͯ ̊ ̊

Quick Takes Olashore Becomes IAPM President

TheAssociationofInvestmentAdvisersandPortfolioManagers(iapm) witnessed change of leadership as Mr. Abimbola Olashore has taken over as President/Chairman of Council of the association. ThisfollowedtheretirementofitserstwhilePresident,Mrs.Oluwatoyin Sanni. Olashore is an Engineering graduate of the University of Hull, U.K. and masterdegreeholderinBusinessAdministrationfromIESEBusiness School, Barcelona, Spain. He is a fellow of the Institute of Chartered AccountantsofNigeria(ICAN),FellowCharteredInstituteofTaxation, Fellow, Institute of Directors (FioD), Fellow of iapm among others. Aseasonedinvestmentbanker,hehasovertheyearsexperienceinthe capital markets as well as financial advisory services in the public and private sector. OlashorewasaformerManagingDirectorofLeadBankGroup,Executive DirectorofEcobankNigeriaPlcandManagingDirector,LeadCapitalPlc. Hehasheldmanyboardpositions,amongwhichare,DirectorofKakawa Discount House Limited, Finance Institutions Training Centre (FITC), NigerianInterbankSettlementSystemPlc.,CrusaderSterlingPensions Limited. He is currently the Chairman, Board of Governors of Oladele OlashoreInternationalSchoolAssociation,LeadAssetManagement Limited and Lead Securities Limited, Director, Unico CPFA Limited, Hon. Treasurer, Nigerian British Chamber of Commerce (NBCC) and CEO/Founder, Lead Advisory Partners Limited. In his acceptance speech, Olashore promised to enhance the quality of the council for exponential growth of the association. The association has Mr. Olufemi Awoyemi, Managing Director of Proshare Nigeria Limited as first Vice President and Mrs. Olufunke Aiyepola, Managing Director of UTL Trust Management Services Limted(formerly,UnionTrusteesLimited)asthesecondVicePresident.

PROMOTING AFRICA’S DEVELOPMENT

L-R: President Muhammadu Buhari; President of African Export Import Bank (Afreximbank), Dr. Benedict Oramah and President of African Development Bank (AfDB), Dr. Akinwunmi Adesina, during the Annual General Meeting of Afreximbank in Abuja‌recently

Economic DiversiďŹ cation Key to Foreign Investment Inows, Analysts Insist Goddy Egene Financial market analysts have reiterated the need for the implementation of policies that would grow the non-oil sector of the nation’s economy in order to mitigate risks associated with over-dependence on oil and attract more foreign investments. Nigeria’s total inflows (consisting of exports and net current transfers) increased by 40.10 per cent to $20.83 billion in first quarter (Q1) of 2018, compared with $14.87 billionb in Q1 2017. However, the inflows were dominated by crude oil and gas exports, accounting for

ECONOMY 93.28 per cent, a situation remains that vulnerable to developments in the crude oil and gas sector which presents a significant downside risk. But analysts at FSDH Research said a way out was to reduce the country’s over reliance on oil and gas earnings, saying government at all levels must intensify efforts to implement policies that would grow the non-oil sectors of the economy. “This would ensure that the economy is mitigated against consequences attached to adverse developments in the crude oil market and would

also encourage more foreign capital inflows in the form of foreign direct investments and foreign portfolio investments,� they said. According to them, Nigeria’s Balance of Payments (BOP) position as at Q1 2018 confirmed their view that the country’s external position remained strong, but vulnerable to developments in the crude oil and gas market. They explained that the provisional BOP figures for Q1 2018 published by the Central Bank of Nigeria (CBN), indicates that the overall BOP for Nigeria shows a surplus of $7.32 billion in Q1 2018, an increase from a surplus of $2.98 billion in

Q1 2017. “The overall BOP as a percentage of Gross Domestic Product (GDP) grew to 7.85 per cent in Q1 2018 from 3.49 per cent in Q1 2017. A strong BOP helps to sustain stability in the foreign exchange market and reduce exchange rate risk. Our analysis of the current account component of the BOP shows that it increased to a surplus of $4.47 billion in Q1 2018 from a surplus of US$3.42 billion in Q1 2017. Total inflows (consisting of exports and net current transfers) increased by 40.10 per cent to $20.83 billion in Q1 Continued on page 24

Report: Nigeria to Benefit from Trade War Obinna Chima

President Donald Trump’s trade protectionist measures will ultimately benefit Nigeria, as escalating global trade tensions are expected to give additional support to Brent Crude prices, a report has stated. The latest round of trade wars saw the US imposing tariffs on Chinese imports worth US$34 billion, with the Chinese government responding by imposing retaliatory tariffs on US imports of a similar amount. President Trump had also threatened to impose tariffs on additional US$200 billion worth of Chinese imports and there could be counter measures by China if Trump

ECONOMY make good on his threat. But analysts at Lagosbased CSL Stockbrokers Limited, believe that, “heightening US-China tensions could have farreaching implications on global energy markets.� They added, “Indeed, considering China’s position as US’s second largest crude importer, retaliatory tariffs on US oil imports becomes more likely should the US continue to raise tariffs on Chinese imports. “This would see Chinese refiners seeking to source a higher proportion of their inputs from non-US crude suppliers such as those from Russia and Saudi

Arabia. “In effect, we could see Brent Crude’s (global oil price benchmark) premium over West Texas Intermediate (WTI; US price benchmark) widen, with Brent breaking past US$80/ bbl resistance levels,� they stated. Meanwhile, in a separate report on their macroeconomic outlook, analysts at the investment bank noted that rising commodity prices would continue to benefit commodity exporters such as Russia, Brazil and Nigeria, will help to drive emerging markets growth. They anticipated that oil prices were likely to remain in the US$70-75/bbl range over the remainder

of the year. “Although the OPEC/ Russia production agreement may well be unwound before the end of the year, geopolitical risks (deteriorating US-Iran relations in particular) and robust demand from the US and EMs will keep prices supported. “Our main views on FX and fixed income from the start of the year have played out, with depreciatory pressures on forex building and yields on treasury instruments declining, particularly at the short end of the curve. “Looking ahead, we believe the CBN will have

Public Relations Firm Launched

DansleiNigeriaLimited,anewpublicrelationsfirmhasdebutedinLagos. The company seeks to provide services in media sales and marketing services, with the focus to help SMEs become well known industry brands and dramatically transform their businesses. Accordingtothecompany,businessesthatfailtouseprofessionalsto manage their reputations may not only lose reach in the digital world but may not even be noticed. TheExecutiveDirectorandHeadofBusinessDevelopmentatDanslei Nigeria Limited, Mr. Uzo Ofurum, while speaking at the launch said, “At Danslei,wepackacombinationofsocialandtraditionalmediaasprimary option for managing information about our clients products, services and reputation. “Weunderstandthatthelittlecontributionwemakeinourcommunities go a long way in making our nation a better place to live and work in.� He further described buying and creating media space in any media organisationasatime-intensiveprocess,reflectinghoursoftransactions between buyers, sellers and creative agents. “So, we have come up with solutions that are user friendly and cost efficient for both the media sellers and the buyers. “Our information rich services reduce the buyer’s time, while enabling the development of a cost-effective media strategy,� he added. Dansleiservesasathirdsaleschannelforradioandtelevision,newspapers andsocialmedia,complimentingtheirnationalandlocalsalesefforts, Ofurum said.

Jumia Nigeria Marks Six Years

JumiaNigeriahasannouncedthatitiscelebratingsixyearsofsustainable business in Nigeria. The celebration taking place throughout the month of July, aims at celebrating major milestones achieved over the period of its operations in Nigeria. The company listed the milestones to include over five million unique productsontheplatform,supportingthegrowthofMSMEswithover 100,000merchantsactiveontheplatform,andgrantinglocalcustomers access to new services in Nigeria. AnnouncingtheanniversarycelebrationsinLagosanditsimpactonthe Nigerian business space, Jumia Nigeria’s CEO, Juliet Anammah said, “Over the past six years, we have created a sustainable impact on the Nigerianeconomy,enabledaccesstonewservicesonourplatform,such as food ordering, hotel and flight booking, as well as finance solutions with Jumia Pay. “Weareespeciallyexcitedaboutthesemilestones;yetwearechallenged to do more and be more to our local vendors and customers.� Giving a retrospect of the history of the company, Anammah noted that since inception in 2012 in Nigeria, “the company has now become Africa’s largest e-commerce platform selling goods and services to millions of customers.

“We continue to position ourselves as the African Exchange of choice for African issuers and global investors by implementing far-reaching transformational policies aimed at strengthening corporate governance.� CEO, Nigerian Stock Exchange,

Continued on page 24

Oscar Onyema

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ECONOMIC DIVERSIFICATION KEY TO FOREIGN INVESTMENT INFLOWS, ANALYSTS INSIST

2018 compared with $14.87 billion in Q1 2017. Nigeria’s inflows were dominated by crude oil and gas exports, accounting for 93.28 per cent of total exports and 64.46 per cent of total inflows. Outflows were dominated by the non-oil imports and net payments for services,� FSDH Research added. The analysts noted that the financial account closed the quarter at a net outflow of $10.29 billion from a net inflow of $355.88 million in Q1 2017. Inflows into the financial account were dominated by other investments and portfolio investments, accounting for 52.73 per cent and 40.85 per cent of total inflows respectively. The BOP report shows that the external reserves as at Q1 2018 stood at $46.73 billion compared with $30 billion in Q1 REPORT: NIGERIA TO BENEFIT FROM TRADE WAR

the willingness and the ability to hold the NAFEX rate at its current levels, despite fundamental and valuation depreciatory pressures. “We hold a neutral view on fixed income from a duration perspective but believe that carry trade will remain attractive for foreign investors amid currency stability,� they added. CSL Stockbrokers Limited maintained its 2018 real Gross Domestic Product growth forecast of three per cent despite the relatively disappointing first quarter 2018 data that was released by the National Bureau of Statistics. “At this stage, we keep our baseline assumption at an average of two millionbpd in 2018 despite recent disruptions to production. A higher oil price environment will boost the sector and we forecast oil prices are likely to remain in the US$70-75/bbl range over the remainder of the year.

NEXIM Bank Boss Seeks Speedy Passage of Factoring Bill James Emejo in Abuja The Managing Director/ Chief Executive, Nigerian Export -Import Bank (NEXIM), Mr. Abba Bello has said the expedited passage of the Factoring Assignments (Establishment) Bill by the National Assembly will present better financing alternative for cash-strapped micro, small and medium scale enterprises (MSMEs) in the country. While commending the lawmakers on the progress made on the draft bill which had passed through first and second readings in the House of Representatives, as well as the public hearing stage, he expressed confidence that the legislation will soon see the light of the day. Essentially, factoring simply involves a business selling it’s accounts receivables to a third party called a factor at a discount to solve an immediate cash needs. Bello said factoring “will be one of the financing options that will mitigate the traditional challenges of SMEs in meeting the eligibility criteria for accessing credit from the traditional banking institutions.� During the public hearing, all stakeholders including the Central Bank of Nigeria (CBN), the Nigeria Deposit Insurance Corporation (NDIC), the Financial System Strategy 2020, the Debt Management Office (DMO) as well as

the Afreximbank supported the factoring initiative which NEXIM will be the primary implementing agency. The NEXIM Bank Boss said he was concerned about the high level of informal trade in Africa, with informal non-oil exports recently estimated at a minimum of $12 billion annually in Nigeria as against recorded non-oil export trade averaging about $3 billion annually in recent times. According to him, “While this challenge is a reflection of the large informal economy, estimated at 41.43 per cent of Nigeria’s GDP in 2015 by the Nigerian Bureau of Statistics (NBS), it is also symptomatic

of the dearth/poor access to export credit, particularly among the SMEs who are the principal players in cross border trade. “Empirical data released by the Central Bank of Nigeria indicates that less than 1 percent of the total loans and advances disbursed annually were allocated to the non-oil export sector over the years.� Later at a roundtable with stakeholders, he said it was against the background of the credit constraints to SMEs that NEXIM saw the need to partner with trade facilitating institutions namely Afreximbank and

FCI and other Stakeholders, under the auspices of the CBN FSS 2020, to develop and promote factoring as an alternative trade finance instrument and an SME financial inclusion strategy. While expressing optimism that the bill will be quickly passed into law, he underscored the need for continued sensitisation, constructive engagement and capacity building to stimulate necessary investment interests and sustain the momentum towards rapid development of Factoring in the country. He said this will ultimately contribute towards

improving Africa’s share in the global Factoring volume and support the current efforts to boost Intra-African Trade, while also formalising informal trade. He added that there’s a high degree of correlation between the global growth in Factoring volumes and the increasing preference for trading under open accounts, which currently accounts for over 80 percent of international trade. The NDIC described factoring as a welcome development that will expand the financial services market currently dominated by the banking sector.

10TH ANNIVERSARY CELEBRATION

L-R: Director, BluechipTechnologies Limited,Tope Ajao; Managing Director, KazeemTewogbade; Co-founder, Olumide Soyombo andVice President, Sales and Business Development, Bolaji Afolabi, during a media briefing on the company’s 10th anniversary held in Lagos‌recently

Forensic Auditors Lament Nigeria’s Poor Fraud Prevention Record Ndubuisi Francis and Udora Orizu in Abuja The Chartered Institute of Forensic and Investigative Auditors of Nigeria (CIFIA) CIFIA has expressed concern that Nigeria ranks among nations with very poor record of fraud prevention globally. The institute also decried the fact that despite the federal government’s renewed efforts in tackling corruption and financial crimes, very little had been achieved, especially in the area of securing conviction against perpetrators of financial fraud in government-owned organiations. The President of CIFIA, Mrs. Enape Victoria Ayishetu, who spoke at a media briefing in Abuja, said, “It is more

worrisome to know that despite the federal government renewed efforts in tackling corruption and financial crimes, very little result has been achieved, especially in the area of securing conviction against perpetrators of financial fraud in government organisations.� High profile cases, she observed, were either thrown out for lack of evidence or are delayed and stocked in court for years due one reason or the other. According to her, forensic and investigative audit represents a global paradigm shift from conventional auditing practice to skilful deployment of science and technological tools to prevent, detect and financial resolve financial accounts.

This class of auditors, she added, involve anti-fraud professionals whose academic backgrounds cut across accounting, law, criminology, cybercrime security, banking, economics and police detective among others. She added that forensic auditing practice integrates investigative skills in order to resolve or exposĂŠ concealed or suspected financial fraud. While applauding the successful passage of the Bill establishing the CIFIA professional body, she stated that the accounting profession has many branches with different responsibilities. She also stressed the need to have a professional body like CIFIA to serve as a check on the financial statements prepared by financial accounts

and also achieve the agenda of the federal government in combating frauds, corruption and other financial crimes as enshrined in section 15(5) of the Constitution (as amended). According to her, in the United States of America and United Kingdom (UK), all auditing-related disciplines, including forensic and investigative auditing are treated as independent disciplines from accounting. She further explained that following the enactment of the Sarbanes-Oxley Act of 2002 in response to the multibillion dollar accounting and auditing scandals at Enron and World.com, emphasis is now placed on the need for independent objectivity and professional skepticism

on the part of forensic and investigative auditors. The primary domain of forensic and investigative auditing, she added, is to work within the investigative process from the scene of financial fraud to the court, providing information and evidence for administration of justice. Ayishetu stated: “CIFIA ensures that the courts are presented with the best evidence and reliable witness, the place of the Chartered Institute of Forensic and investigative Auditors of Nigeria cannot be overemphasised, as it is necessary to provide the legal framework for the registration, training, regulation and certification of practitioners in line with global best practices.�

economic growth and development. Therefore, the eastern ports must be active so as to create free access to the movement of both human and natural resources needed for harnessing the maritime resources in the region as well as make them competitive in the areas where they are needed,� he said. Peterside, said threats associated with piracy, sea robbery, infrastructural challenge, low capacity development, among others, would be surmounted if all stakeholders play their various roles with sincerity. He also said that through the

Nigerians Seafarers Development Program (NSDP), 1,045 beneficiaries had graduated from the project, representing about 42 per cent graduates of the over 2500 NIMASA sponsored beneficiaries. The Chairman of the governing board of NIMASA, Major Gen Jonathan Garba, said the meeting among other things, was aimed at reviewing the extent to which the federal government’s Economic Recovery and Growth Plan (ERGP) as implemented by the Agency in the maritime sector had impacted on the development and growth of the eastern ports.

Group Business Editor

Obinna Chima

Eastern Ports Record 39% Dry Cargo

AgriBusiness/Industry Editor

Bassey Inyang in Calabar

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

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

ÙÎÎã Ă‘Ă?Ă˜Ă? Senior Correspondent

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

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

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

The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Peterside Dakuku has disclosed that the Eastern ports accounted for 39 per cent of dry cargo vessels in the first quarter of 2018. Peterside, who was speaking at the second stakeholders’ interactive session of the agency in Calabar, said over 5000 vessels (both wet and dry cargo) call at the country’s seven functional seaports annually. He also said that of about

3,033 dry cargo vessels that visited Nigerian ports in 2016, the eastern ports accounted for only 631, which was put at about 20 per cent, while in 2017, out of 3106 dry cargo vessels, eastern ports recorded only 676. He said based on the statistics, there was need for serious collaboration with the stakeholders in the sector to ensure that the environment was made conducive enough for continuous growth that is premised on sustainable development as well as present enormous opportunities for investors both as public and private partnership.

The NIMASA DG said the meeting designed to re-engineer the operational efficiency of the eastern ports and by extension the Nigerian Maritime Domain. “The Nigerian Maritime Domain especially the Niger Delta region is vastly endowed with huge maritime resources which include crude oil, abundant mangrove forests, marshes, natural gas, tar, sands and sea grasses, but the country is yet to maximise them for economic development and wealth creation. “Ports are critical infrastructure assets that serve as catalysts of

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FG Will Reconsider Tariff on Local Beverages, Says Ngige Ugo Aliogo The Minister of Labour and Employment, Sen. Chris Ngige has assured members of the National Union of Food, Beverage and Tobacco Joint Employers and Workers Association (NUFBTJEWA) that the federal government will review the newly introduced 500 per cent excise duty on locally produced alcoholic beverages. Ngige disclosed this recently in Abuja while responding to call by leaders of the association who were in his office on a Save Our Soul (SOS) mission. The Minister said the Economic and Recovery Growth Plan (ERGP) of the government was partly tailored towards job creation rather than losses, saying that the Executive Order No. 1 and 4 are for job creation as well as ensuring that jobs created were done by the locals. According to him, “You have written to the federal government through me that

the increase in excise duty on alcohol and beverages will create job losses because once you add a new cost and pass it on, there will be consumer resistance, resulting in low patronage whereas the products coming from overseas that are being smuggled in which are cheap, will take over the market. It is a statement of fact. “I have passed your complaints and luckily we have a listening President who wants the good of all Nigerians. He will definitely ask the Minister of Finance and the economic management team to review the tariff. “We cannot afford to create poverty and job losses here while promoting abundant jobs in other countries. Job losses are not part of this government and will not support the 500 per cent tariff increase. “This is not to say that we don’t know that in some places available jobs have more than available staff members to match them,

but this is a compassionate administration. “The President does not want to throw many families into anguish. The President always said that he was a salary earner in all his working life. “You can also see that we did not place an embargo on recruitment as we used to have years ago even while we were under recession. The federal government has been replacing staff members who exited as well as creating new jobs in the public sector. But this has to be complemented with the private sector jobs to have a full blend.� Furthermore, Ngige who expressed the commitment of the government to the welfare of workers, also referred to the staff housing programme for workers being operated by the office of the Head of the Civil Service of the Federation, under the Federal Integrated Staff Housing (FISH) and other housing programmes meant to provide cheap houses to workers.

Multi-billion Dollar Indorama Fertiliser Plant Inaugurated Ernest Chinwo in Port Harcourt Senate President, Bukola Saraki recently laid the foundation for the construction of the Fertiliser Train 2 of Indorama Eleme Fertiliser and Chemicals Limited. This was as Rivers State Governor, Nyesom Wike declared that the $3.2 billion for the development of Indorama Eleme Fertiliser and Chemicals Limited confirmed that the state is an investors’ destination. Performing the inauguration, Saraki said with $3.2 billion invested in Rivers State by the firm, it showed that Rivers is receptive to investors. He said: “I am congratulating the people of Rivers State for

creating the right environment for this investment. I like the example that Rivers people are setting for others to follow�. The Senate President noted that the successful production of urea in Rivers State, which is used mostly by northern farmers underscores the need for national unity. “Urea Fertiliser products are used by farmers, especially in northern part of the country. That tells us that we must unite. We must support ourselves irrespective of party affiliation . “Without peace, there will be no urea. For all of us in Nigeria, let’s work in the interest of our country “, he said. He noted that Nigeria cannot diversify the economy without

developing the agricultural sector. In his address, Wike, said Indorama had performed creditably through quality investments in the state. He said the state government would sustain the creation of a peaceful environment for the protection of Indorama’s investment. “We are beneficiaries of the dividends of Indorama Eleme Fertiliser and Petrochemicals Limited. We are happy with the management of the company “, he added. The governor wondered why anyone would say that Rivers State is not safe for investments, when the Foreign Direct Investment by Indorama had hit $3.2billion.

Citi Wins Euromoney Awards Nume Ekeghe Citi has been adjudged as the world’s Best Investment Bank at the Euromoney Awards for Excellence held in London recently. The bank was also named World’s Best Bank for Financing, World’s Best Bank for Corporate Responsibility, among other awards. Commenting on the awards, the President of Citi and Head of Citi’s Institutional Clients Group, Mr. Jamie Forese, said: “Citi has had a tremendous 12 months, delivering on our commitments by leveraging the synergies of our ICG platform. “We continue to see evidence in our results that our major advantage when serving large, sophisticated clients is our global network -- one that cannot be replicated by our competition. Being recognised by Euromoney

is a testament to our capabilities.� On being named World’s Best Bank for Corporate Responsibility, Citi’s Executive Vice President for Global Public Affairs and Chair of the Citi Foundation, Ed Skyler said: “The societal issues impacting our communities today require a different level of engagement from companies. It’s no longer about being a good corporate citizen. “We must use our business, our philanthropy and our voice to stand for issues that matter most.� Also, the CEO of Citi Nigeria, Akin Dawodu, said the award was a further proof of the uniqueness of Citi’s footprint and its ability to put its expertise and products at the disposal of its customers, wherever they may be. “We are all proud to be part of such a great and unique institution and will

continue to put our clients at the forefront of everything we do,� Dawodu added. Commenting on Citi’s success, Euromoney noted that: “The rationale behind Citi’s nomination as the world’s best investment bank this year is simple, but impressive. In every part of the world that Euromoney considered the credentials of the leading regional investment banks, Citi was a genuine contender.� Citi was also recognised across a number of regional categories namely Best Investment Bank in Central and Eastern Europe, Spain, Middle East and Chile, Best Bank for Corporate Responsibility in North America, Best bank for Financing in Africa and Latin America, Best bank for Advisory in Western Europe, Best Bank for Sustainable Finance in Latin America and Best Bank for Transaction Services in Africa and Central and Eastern Europe.

ELEVATING TO THE NEXT LEVEL Marie-Therese Phido

Are You Destroying Your Personal Brand?

I have noticed that a lot of Nigerians have joined the personal brand bandwagon. I’d like to think that in my own small way, I have helped in amplifying the need for everyone to have a personal brand. For me it’s a personal crusade to ensure that after a stellar career you do not go into oblivion. You are known for something and your name and your belief can stand for you without the big brand you worked for being your identity. My observation is that many in very serious and senior positions have already gone into oblivion, even the big office they currently hold has not been able to ensure that they are known for themselves. The other day, I asked a group of people to identify the CEOs of some of Nigeria’s biggest organisations they could not. But, when I asked them to identify Lamido who had worked in one of the banks in Nigeria, they could link him to the bank, then the CBN and now his role as Emir. The two previous positions he held many years ago. He is one person, who has a strong personal brand. His positions do not overwhelm him, he is an asset to the positions, which is where we should all aim to be. According to the Entrepreneur, “whether you’re the founder of a startup or simply trying to take the next step in your own career or the CEO of a big organisation, few things are more important than a strong personal brand. But, what I see in Nigeria, is that many people are going about it the wrong way and are actually destroying their brands instead of developing it. The Entrepreneur and I indicate below how we may be destroying our brands: You don’t have any clear-cut purpose Why do you want to build your personal brand? It’s an essential question to consider as you define your voice and goals. Far too many people start trying to build their personal brand with the vague goal of wanting to “become an influencer.� All too often, this results in a messy situation where you try to be all things to all people. Instead, take the time to determine what your goals are. Do you want to share knowledge from your own experiences so others view you as an expert? Do you want to demonstrate your worth to potential employers? Are you trying to increase publicity for your startup? Understanding the “why� will ensure you keep your messaging and actions on-track. You routinely engage in shameless self-promotion. Building a personal brand will obviously require a fair amount of self-promotion. But, if you’re an endless self-promoter (especially online), you’ll have a hard time gaining much of an audience. Too much self-promotion, and you’ll be just another bland voice lost in the advertising mix. Some experts recommend that you only use 10 percent of your posts (or conversations) to self-promote. With the rest of your time, highlight interesting facts or industry news through social media and blogging, while still sharing your perspective. You blend in with the masses. You’re super enthusiastic about motivational speaking and taking pictures like groupies? You want to be seen to have attended every event and taken pictures with everybody, without sharing the nuggets or lessons learnt and the takeaway from the event that will benefit your readers. You neglect traditional channels. These days, most influencers are able to accrue a large following through blogging and social media. It can be tempting to think you’re following in their footsteps when you do these same activities. But, old-fashioned, face-to-face

interactions still provide a lot of value — and if you ignore these, you will miss out on valuable opportunities to build your personal brand. Networking events and conferences are a great way to build new relationships, including those that could help you further your career goals. Even volunteering for a local public speaking event can give you the opportunity to demonstrate what makes you unique. If your relationships exist entirely online, you won’t make nearly as strong of a lasting impression. You don’t separate yourself from your business. Startup founders often put so much focus on building their brand’s influence that they fail to fully distinguish their personal brand. You and your company are not the same entity — don’t mistake building your startup for personal branding. If you leave the company behind, those branding efforts won’t carry over to your next endeavor. Experts say, “It’s very hard to build your personal brand if you are constantly tied to your company’s marketing. Blogging on your company website or being the voice of your company’s social media profiles can be good for your business, but if you are serious about building a brand built around you, then you need to take steps to separate your business and personal brand. So many people in Nigeria do this. I see them constantly promoting their company’s materials and events, even though they are sometimes the subject of these promotions, however, the distinction is still not enough. They need to be completely separate and distinct. You over-promise and under-deliver. This can easily occur with your personal brand if you’re not careful. While you may not be promising your followers a new product, they still have certain expectations from you as you build your online influence. For example, you might tell your followers that you’ll have a new blog post for them every week. But, what happens when you miss a week? Two? As you fail to live up to your promises, you’ll lose the trust of your target audience. As a result, you’ll lose followers and influence, perhaps permanently undermining your personal brand. You have poor social media habits. These days, social media is a key part of building your personal brand. This is especially true of those hoping to become thought leaders in their niche. But, if you’ve spent any time on the internet, you know just how easy it can be to get sidetracked in a controversial debate. It’s better to stay away from these touchy subjects. If you are entering a joint venture five years from now, for example, and someone drags up your Twitter posts from this week, will there be a negative impact on your brand? If you ran for office 10 years from now, would your social activity be an issue?� You are inconsistent. Consistency is essential when developing a marketing strategy for a company —you should be just as consistent when developing your personal brand? Without consistent messaging and actions, you lose a sense of identity. Worse yet, you can easily lose credibility and trust. Just like you would create and circulate a brand guide to ensure consistent brand messaging, so too should you focus on maintaining an identity in your voice, actions and unique value propositions. Doing so will prove your professionalism and authenticity and help you earn the trust of others. Commit to building the right brand. As you learn to recognize these bad habits and take steps to correct them, you’ll be able to build a strong personal brand that helps you achieve your personal and professional goals - strong relationships with customers and coworkers that ensure you’ll have lasting success in the years ahead.

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Bello: Microfinance Banks Need Stronger Regulation for Better Performance Managing Director/CEO, Bosak Microfinance Bank Limited, Kola Bello, spoke on the bank’s operations, in this interview with Goddy Egene. Excerpts: like to mention is that a strong capital base is not an assurance that the business will do well. This has to be supported by tighter regulations, corporate governance rules, capacity and know-how of directors of microfinance banks needs to improve as some do not know what they are doing in some cases. My point is, the increase in capital base will help the banks but that alone is not sufficient. Bosak is aware of this initiative of CBN and we are also raising capital internally and rather than distribute profit, we save and at the same time attract investors to invest in the bank’s equity and we are getting positive response. We are quite confident that when the CBN comes up with this regulation, we would be ready.

As an operator what can be done in terms of regulations and general policies to help improve the microďŹ nance sector? Let me first talk about regulation, the Central Bank of Nigeria (CBN) has really improved but they need to further improve their capacity as I have come across so many things not addressed by regulations that can help improve the sub-sector. Talking specifically about Lagos State Government, I will like to commend the current administration because this is the first time I have seen a programme like the Lagos State Employment Trust Fund where the state is collaborating with financial institutions to provide capital to those who don’t have access to raising capital for their businesses. The rate charged is even better than what you get in some western economies, so for me the Lagos State Government is doing a lot in the microfinance sub-sector. I just want to advise that they should not only be interested in funding clients, but they should also work with the microfinance institutions to grow their capacity, offer grants for specific purpose to microfinance banks they are partnering with because if they are well equipped, they will deliver on the mandate of Lagos State. Tell us about Bosak Microfinance Bank? Bosak Microfinance Bank Limited commenced operation in 2010 and the bank has been an impactful organisation in micro lending activities especially in Lagos State where it has a licence from the CBN to operate. The unique thing about the organisation is that we continually seek to understand the needs of our client’s and appropriate products to meet these needs. I say this because we are in a market where everyone does almost the same thing; but we have taken it to the next level to understand what the active poor person needs and then design products to meet these needs. And talking about our products, we have products that are designed to meet the credit need of clients and product that helps their desire to save surplus liquidity. Let me talk about the credit products first – we have our group loan because majorly our loans are group based and that is meant to address the working capital needs of traders. Beyond the group loan, individuals in the group get to benefit from one form of loan or the other, for instance, they can borrow to expand their productive asset and they can buy assets. For example, some people do not understand basic financial management, all they know is that there is money and they can use their working capital to acquire assets and then they end up needing working capital again. So, what we do is that we don’t allow them to do that, we give them the opportunity to borrow from their groups to purchase fixed assets that they require in addition to their working capital. We also noticed that within the groups, some have higher loan needs and what we do is that we also give them the opportunity to borrow individually within the group – something sizeable that their cash flow can support. Beyond that, we also have a product in the pipeline which will address the need for them to pay their children’s school fees because the poor usually dip their hands into their working capital to pay school fees of their children except for those whose husband’s pay the fees. Hence, the

How will Bosak tackle the issue of non-performing loans which affects a lot of microfinance banks? Non-performing loan is the biggest risk every financial institution is exposed to because for most microfinance institutions, you will see that 80 per cent of their assets is in loans and if they don’t have healthy loan portfolios, the bank is as good as gone. If you recall, I said we serve those at the bottom of the pyramid, especially women who make up about 90 per cent of this category and they pay back their loans. This is because the product serves their needs. The interesting thing is that when the client sees us as partners, they will be encouraged to repay so they can get even more loans. There are also other incentives which time wouldn’t permit me to mention. Bello

need for this new product to aid them pay from loans and repay in instalment. So, that is essentially what we do as we also have other products we hope to unveil soon to address other areas of need. We know that the poor in Nigeria save through other means such as daily collectors that isn’t safe as the money can be lost due to death of the collector or relocation. We have introduced a savings product that will help these individuals save weekly as opposed to daily. In addition, we go there to get the money to be saved just as the daily

One thing I will like to mention is that a strong capital base is not an assurance that the business will do well. This has to be supported by tighter regulations, corporate governance rules, capacity and know-how of directors of microďŹ nance banks needs to improve as some do not know what they are doing in some cases

collectors known as “alajoojojumo� also do. We also have another product that will help the poor get access to health facilities. We have what is called “Bosak Health Insurance Savings�. What that means is that as you pay back after borrowing, you have the opportunity to pay for health insurance premium for as low as N6,000 per annum which is N500 per month. So the structure is that as you repay your loan, you only add N125 to your weekly loan repayment instalment. The interesting thing is that you don’t need to pay the N6,000 before getting healthcare because it is “pay as you go�. So how has the journey been since you started? I will say that it is not as easy as it sounds. It is a journey that evolved overtime. A lot of people including our directors were scared that we would go into extinction. We realised that what works for the poor is something that is specialised, so we studied it and designed products to solve these needs. We also realised we didn’t have the capacity to serve the elite as we focused on those at the bottom of the pyramid which is the game changer for us. How is Bosak Microfinance gearing up to the changes about to be introduced by CBN in relation to capital base for the sub-sector? As the sectors of the economy grow and emerge, it is important to strengthen the position of operators. It is a good thing that CBN is looking to increase the capital base of microfinance banks which will result in stronger banks and better ability to absorb risks etc. One thing I will

Aside non-performing loans, what other challenges do microfinance banks face? Microfinance is alien to Nigerians. I say this because in some countries, it has been working for more than 50 years. But if you recall, the regulatory framework was formulated in 2005 which is about 12 or 13 years ago. Capacity is a major issue, so the impact on the microfinance institution is to invest majorly in capacity building and trainings to expose the people to international best practice. The second issue is infrastructure. A microfinance bank with over 30 branches nationwide will need to generate power in each of these locations, so infrastructure is essential. Compare a microfinance bank here and elsewhere where things work, you will see that your cost is higher. These two are among the many challenges being faced. What distinguishes Bosak from its competitors and where do you see the bank in the next five years? There are so many microfinance banks, but our competitors are few. Most of them do not serve the same market, some are competing with commercial banks but don’t have the capacity to do so. What distinguishes us from our competitors is that our products are tailored to meet the needs of our clients. We also ensure that we are partners with our clients, so we work towards improving our quality of service every day. On our projections, the bank has a road map that states that it should be a national bank in the next five years. We are a major player in Lagos state, but we are looking at being a national player. I usually tell people that it doesn’t matter where you are now or where your competitors are; it is all about your vision

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Survival of the Fittest

Nigerian banks may find it difficult to sustain their profitability this year given the reduction in treasury bill yields, which many of them depended heavily on last year to shore up their earnings, writes Obinna Chima

The recent revelation that the level of banking sector non- performing loans (NPLs) declined from as high as 16.21 per cent in February 2018, to 14.15 per cent as of April 2018, is something to cheer. But despite the positive development, commercial banks have remained apathetic about lending to the private sector as credit to the sector continues to shrink. To analysts, the banks have remained cautious in risk assets creation because the Nigerian economy is yet to fully recover from the economic recession it suffered about two years ago. The expectation is that the operating conditions of the financial institutions will remain challenging over the next 18 months, as the economy slowly recovers. Also, Fitch Ratings had projected that given the reduced yield on treasury bills, banks would struggle to remain profitable this year as such the financial institutions would definitely limit their risk appetite so as not to be caught off guard. The federal government had announced plans to refinance some maturing domestic debts with external borrowings. Owing to this, the government has since slowdown on its fixed income securities issuance which led to a significant drop in interest rate from around 18 per cent to about 10 per cent presently. Widening Gap Clearly, the full year 2017 audited results of banks reviewed by THISDAY showed that the gap between the tier 1 and tier 2 banks in the country, in terms of market share, has continued to widen. A review of the audited results of 13 banks, comprising the five tier 1 banks and eight tier 2 lenders, showed that the tier 1 banks continued to control a significant chunk of the market in terms of assets, gross earnings, loans and advances and customer deposits. The tier 1 bank results reviewed were those of Zenith Bank Plc, Guaranty Trust Bank (GTBank) Plc, United Bank for Africa (UBA) Plc, FBN Holdings Plc and Access Bank Plc. On the other hand, the six tier 2 bank results reviewed comprised Fidelity Bank Plc, Stanbic IBTC, Sterling Bank, First City Monument Bank (FCMB), Ecobank, Diamond Bank, Union Bank and Wema Bank. The review showed that the total assets of the 13 banks increased to N37.801 trillion at the end of 2017, higher than the N33.997 trillion recorded in 2016. But the five tier 1 banks listed above, at N22.355 trillion, accounted for 59 per cent of total assets in 2017, while the total assets of the tier 2 lenders stood at N15.446 trillion during the same period. Also, while the 13 banks realised combined gross earnings of N4.558 trillion in 2017, up from N3.829 trillion from the previous year, the five tier 1 banks alone accounted for N2.681 trillion or 59 per cent of total earnings in 2017. Findings also showed that total loans and advances of the 13 banks stood at N15.938 trillion in 2017, lower than the N16.030 trillion recorded in the previous year. Similarly, while total customer deposits of the 13 banks stood at N23.096 trillion in 2017, higher than the N21.727 trillion they realised in the previous year, at N13.321 trillion, the five tier 1 banks accounted for 57 per cent of total customer deposits. The tier two banks, on the other hand, posted combined customer deposits of N9.775 trillion or 43 per cent in 2017. Managing Director, Afrinvest Securities Limited, Mr. Ayodeji Ebo, attributed the yawning gap between the tier 1 banks and tier 2 banks to the fact that the bigger Nigerian lenders have been riding on economies of scale and larger branch networks. “Because of these, the tier 1 banks have been squeezing out their tier 2 counterparts. What the latter can do is to ride on technology to improve their market share,� he explained. Net Interest Income Also, the full year 2017 audited results of the 13 commercial banks showed that they raked in a total of N2.013 trillion through net interest income (NII) as they took advantage of the high yield environment for fixed income securities last year to boost their profits. The amount realised by the 13 banks represented an increase by 11 per cent, compared with the N1.799 trillion they made in 2016. A breakdown of this showed that while FBN Holdings’ NII increased to N321 billion in 2017,

up from N304 billion in 2016; GTBank’s NII also climbed to N327 billion in 2017, up from N262 billion the previous year; Zenith Bank’s also increased from N240 billion in 2016, to N257 billion last year; UBA’s from N165 billion in 2016, to N207 billion last year; Ecobank Group’s NII rose to N299 billion in the year under review, from N284 billion the previous year; and Access Bank’s from N117 billion the previous year, to N130 billion last year. Nevertheless, the situation may be different in the 2018 operating year as the ‘free lunch’ appears to have come to an end following the federal government’s reduced domestic borrowing, in line with its debt management strategy. Fees and Commission to the Rescue The results showed that the 13 banks raked in N655.669 billion from fees and commission income last year. The amount realised by the banks represented an increase by 11 per cent, compared with the N591.987 billion they realised in 2016. Analysts have predicted that the financial institutions would be aggressive in fees and commission income going forward, as they continue to contend with the reduced yields on treasury bills. The fees and commission income by the banks were derived from account maintenance fees, fees from electronic banking channels, ATM charges,

Capital constraints remain a challenge for some of the smaller banks, but we are not concerned that reallocation of assets in favour of loans will put material pressure on capital adequacy ratio, as we expect the banks to lend cautiously

letters of credit commission, remittances fees, card-based fees, fees from brokerage commission, financial advisory fees, among others. Analysts’ Opinion For analysts at Coronation Merchant Bank, the ability to support risk asset creation in the real sector will differentiate winners from losers in the Nigerian banking industry over the next three years. The investment bank noted that while the quality of asset in the industry was improving generally, the best capitalised banks will move well ahead of their competitors. According to the Head of Research, Guy Czartoryski, “For two years, Nigerian banks have had an easy time, earning good income on risk-free government-backed, Naira-denominated securities.� “That era is drawing to a close as T-bill rates fall. Asset yields are trending south, and it is almost impossible to re-price liabilities to match. So, banks must either find other sources of income or face an average 15 per cent drop in their profits before tax expectation for 2018. “For the banks to replace the portion of income threatened by declining yields on securities, they must grow risk-weighted assets. This means a 6-12 per cent rise in customer loans in 2018.� However, analysts at Renaissance Capital Limited, had predicted a loan growth of 10 per cent for the sector. But, it pointed out that the appetite to create new foreign currency assets remains relatively weak, saying that loan growth would largely be driven by the local currency book. “Capital constraints remain a challenge for some of the smaller banks, but we are not concerned that re-allocation of assets in favour of loans will put material pressure oncapital adequacy ratio (CAR)), as we expect the banks to lend cautiously,� the firm stated. “Against the backdrop of a falling interest rate environment, and the expectation of cautious lending among the Nigerian banks, we believe resilience in earnings will be key in full year 2018. Specifically, we believe that the investment thesis of the Nigerian banks in full year 2018 largely hinges on the improving asset quality outlook,� the report added. On their part, Fitch stated that its 2018 rating outlook for the Nigerian banking sector was negative, forecasting that some tier 2 banks would struggle to remain profitable this year. To Moody’s Investors Service, declining yields on government securities would dampen banks’ core earnings.

“We expect return on assets of around two per cent in 2018, due to declining yields on government securities. Declining yields will be partially offset by increased non-interest income and lending growth. “Additionally, some banks will continue to generate high earnings through derivative and swap transactions, although we expect these earnings to decline significantly over the next 12 months,� Moody’s added. In its latest report however, Moody’s predicted that Fidelity Bank Plc (Fidelity), Union Bank of Nigeria Plc (Union), First City Monument Bank Limited (FCMB), Sterling Bank Plc, and Diamond Bank Plc (Diamond) — will grow their earnings materially over the long-term. “Nigerian mid-tier banks suffered more severely than the top five largest banks from the 2016 recession and are still recovering, “the Vice President and Senior Credit Officer at Moody’s, Akin Majekodunmi said. “Over the longer term, though, we expect their earnings growth prospects to be positive.� Moody’s viewed Fidelity, FCMB and Union Bank as best positioned to weather current operating challenges, given their sound capital and liquidity buffers. “Loan performance for the mid-tier banks has deteriorated in recent years but it is likely to stabilise because most foreign-currency loans and loans to the oil and gas sector have been restructured,� it added. It noted that sound capital buffers, which compared favourably to global peer averages, mitigated some of the banks’ high asset risks. It added: “Most banks also hold sufficient liquidity to cover upcoming foreign currency obligations; only Diamond and Fidelity have Eurobonds outstanding, while all five banks have bilateral foreign-currency debt outstanding. “Profitability, though, is likely to remain subdued over the next 12-18 months, with an average net income to assets ratio of just one per cent due to a reduction in the yields of government securities, muted loan growth and high provisioning costs. Over the longer term, however, the earnings potential for Nigerian mid-tier banks, and the country’s wider banking sector, is positive.� Beside these, for 2018 and beyond, Nigerian banks would also have to contend with increased regulations, disruptive models from financial technology companies, threats of cybercrime as well as intense competition in the industry. Therefore, financial institutions that can address these emerging challenges and utilise the opportunities in the system would be the winners.

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Driving Financial Inclusion through Micro-insurance To find new ways of bringing more Nigerians under insurance cover, increase patronage and improve the sector’s contribution to the country’s Gross Domestic Product, I nsurance practitioners and regulators recently held a national conference. Ebere Nwoji reports The Insurance Industry Consultative Council (IICC), a body comprising the National Insurance Commission(NAICOM) , the Nigeria Insurers Association (NIA), the Chartered Insurance institute of Nigeria(CIIN), the Nigerian Council of Registered Insurance Brokers(NCRIB) and Institute of Loss Adjusters of Nigeria(ILAN),recently collaborated with their sister sub-sectors in the finance services sector especially banking industry to draw a roadmap for achieving financial inclusion in insurance industry. Operators and leaders of the above institutions gathered in Abuja for a threeday session on how to achieve financial inclusion in insurance industry through micro insurance distribution among Nigerians. The target is to bring in many more Nigerians under insurance cover and change the present situation in which less than one per cent of the Nigeria’s population have insurance cover. Discussions at this year’s conference which has the theme: “Insurance Industry and Financial Inclusion,� mainly focused on how the industry can successfully reach the unreached Nigerian population with insurance products that meet their needs to encourage savings and risk transfers among the less privileged living in less developed parts of the country who due to ignorance of what insurance can do, often bear their own risk, a situation which has continued to impoverish them. Speakers at the conference believed that insurance holds the key to poverty alleviation among poor and rural dwellers. The insurers agreed to make a paradigm shift from the existing marketing culture which places much emphasis on the corporate and public sector markets while neglecting the retail market segment with its numerous potentials. Issues on the use of mobile telecommunication technology to easily capture the huge underserved population of Nigeria with suitable insurance products received much emphasis as the industry operators were advised to pay less attention on the traditional distribution channels that make use of insurance brokers and agents as foot soldiers in the sale of insurance and embrace the use of mobile telephone technology which ensures swift result. The insurers reached a number of agreements regarding deepening insurance penetration in Nigeria. One of the agreements was that mobile telephone technology is a tool to drive financial inclusion in the insurance industry therefore regulators of both finance and communication sectors mainly the Central Bank of Nigeria, (CBN), the Nigerian Communication Commission, (NCC) and NAICOM must work together to ensure that insurance products and services can be delivered through mobile technology. Another agreement is that insurance service providers should learn and understand the financial behaviours of the people and give them products that suit their needs. The insurers also agreed that there is need for the industry to have an insurance ombudsman and NAICOM should sensitise directors of companies on the new insurance industry roadmap and micro insurance guideline for the purpose of approving funds. The Chairman Zenith Bank Plc, Mr Jim Ovia, defined financial inclusion saying within the context of insurance, financial inclusion means making insurance services readily accessible to all. “Providing access to useful and affordable financial products and services that meet the needs of every individual,� he said. He raised the question on who is financially excluded in Nigeria? In providing the answer, Ovia, quoted 2016 Enhancing Financial Innovation and Access (EFInA) survey, which said that the total adult population ( that individuals from 18 years and above) of Nigeria is 96.4 million. He said of this adult population,59.6

million (62 per cent) are based in rural areas,56.2 million (58 per cent) are under 35 years,18.4 million (19 per cent) get their main source of income from subsistence/ commercial farming,18.9 million (20 per cent) get their main source of income from own business (non-farming), 7.9 million (4 per cent) get their main source of income from the formal sector while 21.8m (23 per cent) have no formal education He said in the real sense of it, every adult ought to have one insurance cover or the other and as many adults as possible that do not have insurance cover is financially excluded insurance wise. According to him, there are many reasons why people are financially excluded saying premiums may be too expensive for many in the low-income category, or the products design and terms and conditions are too complex or that products are not customised for low income. He also reasoned that there may be

This exclusion from insurance products often results in people being trapped in a poverty cycle which is exacerbated by poor health. This is especially so because of the risk transfer mechanism of insurance

mistrust of insurers especially given the gap between when an insurance product is bought and when benefits may be enjoyed. He also said that for some insurance products, sometimes the person buying the product may not even be the one that enjoys the benefits. An example of such is the pure life assurance products, saying this discourages also people from buying insurance products. Ovia also observed that financial illiteracy which can arise as a result of lack of adequate engagement with the population as to the purposes and benefits of insurance stands as another reason for people’s exclusion from insurance services. He said without insurance, the poverty and ill health cycle in less developed parts of the country will continue adding that Insurance is one of the primary solutions to break the poverty cycle . “This exclusion from insurance products often results in people being trapped in a poverty cycle which is exacerbated by poor health. This is especially so because of the risk transfer mechanism of insurance,� he said. He added that to achieve financial inclusion in insurance sector, the regulators of both finance and communication sectors should come to the drawing board on how to collaborate and use each other’s channels for insurance distribution. The Commissioner for insurance, Alhaji Mohammed Kari, said NAICOM, as a regulator, has done all it could to enhance micro insurance distribution in the country. He said the commission, to this effect launched four specific products lines as bottom-up for the excluded low-income members of the society. These, according to him, are micro insurance which guidelines it has released, Bancassurance, Takaful insurance and Index based Agric insurance . On his part, the Chairman, Organising Committee of the conference, Alhaji Femi Hassan, said the retail insurance market was like already cooked food on the table

kept at a distance from the consumers who are the insurers. He urged the insurers to cover up the gap and tap the gains in the market. The IICC Chairperson and CIIN President, Mrs Funmi Babington-Ashaye, expressed satisfaction that financial inclusion in insurance sector was chosen as theme of the conference. She said this is coming six years after the financial inclusion strategy and initiative was launched by the federal government. She also said micro insurance scheme, which is looked upon as a tool to achieve the financial inclusiveness in insurance industry, is a good strategy that would assist the industry to cover the gap between insurers and the grass root population. She said the industry needs to embark on research to be able to come up with right technology that will act as a van to convey suitable insurance products to the door steps of average Nigerians that need insurance services. Given the low level of insurance penetration in Nigeria, NAICOM has since 2009 intensified efforts towards improving the situation. The commission launched a medium term plan tagged Market Development and restructuring Initiative(MDRI) which had been standing as a tripod on which every efforts targeted at deepening insurance penetration in Nigeria rests. The initiative has the objective of enforcing compulsory insurances, curbing activities of fake insurance operators, using agents to reach Nigerians with low cost insurance services among other objectives. The financial inclusion efforts in insurance industry is an aspect of the market development but which is targeted at mass marketing efforts through mobile telephone technology. Insurance experts said if this is achieved, the insurers would open the gate to over N60 billion annual market opportunities lying untapped in the retail/micro insurance market.

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NDPHC’s Fresh Intervention Drive The Niger Delta Power Holding Company Limited is building more transmission and distribution systems so that power from its generation plants and that of other generation companies can get to homes and offices in Nigeria, writes Chineme Okafor Needing a legal vehicle to implement the National Integrated Power Project (NIPP), the three tiers of government decided to set up and formalise the Niger Delta Power Holding Company (NDPHC), after a couple of resistance though. The three benefactors were perhaps aware of how the defunct National Electric Power Authority (NEPA) later known as Power Holding Company of Nigeria (PHCN) was mismanaged by varied interests, and so established the NDPHC using a private sector-orientated business model in 2005 to manage the assets and investments in the NIPP. Reportedly funded through the Excess Crude Account (ECA) of the Federation, and with a shareholding structure now recognised in the laws of the country, the NIPP which encountered some difficulties at inception, now appears to have gained some level of momentum in its what it offers to Nigeria, except for some difficulties which placed some momentary blockades on its future plans of spinning off its generation assets through a privatisation programme to build some more in other parts of the country for a balance in the country’s power generation profile. NIPP scope and current status The NIPP was originally designed around seven medium-sized gas fired power stations in the gas producing states of the Niger Delta. However, the generation projects were later expanded to 10 with the addition of three others in Ogun, Ondo and Kogi states. Also, because of the need for critical transmission infrastructure to evacuate the added power from the 10 power plants into the national grid, the NIPP had to include the construction of power transmission lines in its projects portfolio. This was in addition to the construction of gas infrastructure to enable adequate supply of gas as fuel for the power plants. A commitment to electrify host communities in the vicinity of the power stations and major substations as well as ease power flow to end-users across the country, equally made it imperative to expand the distribution capacity and infrastructure of the 11 distribution networks currently recognised in the country’s electricity law. This thus made the NIPP a complete package and perhaps the biggest single hybrid power entity in Nigeria. Within its first phase, 10 gas-based power plants with the cumulative installed capacity to generate 5,067 megawatts (MW) of electricity were procured for construction. Eight of them were simple cycle plants, while the other two were combined cycle. With a reported number of 35 gas turbines, six heat recovery steam generators and three steam turbines, all procured for the projects, the NIPP was reported to have averaged about 35 per cent of Nigeria’s entire installed electricity generation capacity. It had its plants in Olorunsogo with a generation capacity of 756MW; Ogorode - 504.4MW); Omotosho - 518MW; Geregu – 504MW; Ihovbor - 504.4MW; Alaoji 789.4MW; Calabar - 630.5MW; Gbarain - 252.2MW; Omoku - 252.2MW; and Egbema - 378.3MW. And, going by the recent status reports on these plants, the 756MW Olorunsogo; Ogorode - 504.4MW; Omotosho - 518MW; Geregu - 504MW; Ihovbor - 504.4MW; and Calabar -630.5MW, have all been fully completed, while Alaoji - 789.4MW is 80 per cent completed; Gbarain - 252.2MW is 90 per cent completed; 252.2MW Omoku, 71 per cent completed; and is 67 per cent completed. Similarly, the gas pipeline and metering stations at Ihovbor; Gbarain; Calabar; Oro; Sapele; Alaoji; Geregu; and Omotosho were reported in the status report to have been 100 per cent completed, with that at Egbema completed by 85 per cent. For the transmission infrastructure, the report stated that 112 high voltage transmission projects seeded into 31 Engineering Procurement and Construction (EPC) Lots and covering over 1635kilometres of 330kV Double Circuit (DC) lines, as well as over 720 kilometres of 132kV DC lines were constructed. This also included 10 new 330kV substations; seven new 132kV substations; 6,150

megavolt amp (MVA) of 330/132kV transformer capacity; and 2,800MVA of 132/33kV transformer capacity. According to the report, about 36 numbers of 330kV and 132kV transmission substations assets belonging to the Transmission Company of Nigeria (TCN) were equally expanded. Additional power assets Aside the power assets procured and installed within its first phase, the status report also indicated the NDPHC has begun to build new power systems under an intervention scheme approved for by its board to boost electricity delivery in the country. In a recent interaction with THISDAY in Yola, when one of such projects was commissioned, the Managing Director of NDPHC, Mr. Chiedu Ugbo, explained that the intervention projects were initiated on the back of obvious gaps in the transmission and distribution ends of the sector. Ugbo, had stated that such intervention projects were ongoing across the country, including an emergency intervention scheme to restore power systems destroyed by the Boko Haram terrorist group in states within Nigeria’s northeast region. However, in the status report, the NDPHC indicated that it upgraded the Ajah/Lekki/ Alagbon transmission substation from 132kV to 330kV DC line; completed the turn-in-turnout of the Ajah/Lekki/Alagbon 330kV DC line, as well as that of Asaba on 330kV SC 3rd Benin/Onitsha transmission line. Also, within this, it procured for the installation of 75MVAR shunt reactor at Gwagwalada 330/132/33kV substation; completed up to 85 per cent, the TCN 2 by 60MVA - 132/33kV Kukwaba substation; and 1 by 150MVA 330/132kV and 2 by 60MVA - 132/33kV at the Lafia substation; in addition to the 132kV DC Abakaliki – Ikom – Obudu transmission line. It explained the impacts of the transmission projects on Nigeria’s power sector were that it increased the capacity of the country’s 330kV lines by 46 per cent to now cover about 6,932 kilometers (km) from 4,495km that they were around 2000 and 4,738km in 2006. Nigeria’s 132kV lines, it explained covered about 5,430km and 6,227km between 2000 and 2006, but now extends to 7,036km on the back of its interventions which it said increased the length by 13 per cent. On the country’s high voltage transformer capacity, it stated that its interventions upgraded the 132/33kV transformer capacity from 5,700MVA and 7,805MVA that it was in 2000 and 2006, to 11,118MVA, an increase of 42 per cent, while the 330/132kV transformer

capacity grew from 5,300MVA and 6,008MVA within these periods to now 11,590MVA, representing an increase of 93 per cent. It also noted that the country’s 33kV lines grew in coverage capacity from 45,252km in 2006, to 47,538km, representing an increase of five per cent; 11kV lines increasing its coverage from 31,973km in 2006, to 36,648km and representing an increase of 15 per cent; the 0.415kV lines at growing from covering 232,862km in 2006, to now covering 245,905km, all on the back of its intervention. The capacities of the country’s 33/11kV substations which it said were at 8,148MVA in 2006, also grew by 43 per cent to 11,649MVA; the 33kV and 11/0.415kV substations grew from 11,810MVA in 2006 to now 14,878MVA, indicating an increase of 26; while the number of 33kV and 11/0.415kV substations increased to 84,170 from 32,000 that they were in 2006; and that of 33kV/11kV substations by 25 per cent from their 2006 numbers of 1,048 to now 1,311. Furthermore, on the distribution end, Ugbo, had also explained to THISDAY at another meeting in Kaduna, that the NDPHC had stepped up its intervention program in the networks of the 11 electricity distribution companies (Discos) to enable them distribute more electricity to end-users. He however noted that some Discos have continued to refuse to take over the distribution assets built for them, with some of them giving excuses that they were not built within their preferred locations. “We have around 100 ongoing intervention projects in the power sector and we have also completed many of them. Last month we inaugurated two projects in Lagos which are similar to this one in Kaduna that has been completed and commissioned for use. We shall also inaugurate another project in Jaji, here in Kaduna State. “Still under the Kaduna Disco franchise area, we have Gagi and Tambuwal both in Sokoto and the two of them are ready for inauguration. We have projects in Zamfara, Plateau, Abia and virtually in every state in Nigeria and we are working on them. Many of them are between 80 and 95 per cent completion and pushing to complete them as soon as possible,� said Ugbo. He said on the average volume of power each of the distribution substations completed by the company can take was about 15MW, adding that the country’s authorities were deliberating on the continued refusal of the Discos to take over the assets procured and installed at their zones. THISDAY equally gathered that it was through the intervention projects of the

NDPHC that about 80 per cent of the electricity transmission and distribution facilities that were damaged by Boko Haram in the northeast were restored. It was learnt that the transmission lines in areas such as Damboa, Madagali, Maiduguri, Damasak, Gombi, Mubi, Wukari, and other areas which were affected by the insurgency, have been repaired and now working. On that, Ugbo, stated that about 25 distribution facilities had been installed for use by Yola Disco in Adamawa, Yobe, Bauchi, Borno, Taraba and Gombe states, while 16 injection sub-stations were completed by the NDPHC under its normal project schedule and another nine under the emergency intervention window. According to him, in Adamawa, the projects were done in Mubi, Numan, Jabbi, Konar, Girei, Gushua, old Powerhouse, SPY, Dumne, Diima and Tinde Laro; in Yobe, they were in Potiskum and Damaturu; while in Taraba and Gombe, they were in Wukari, Jalingo, Riyal and Bauchi road. In Borno and Bauchi States, he said they had projects in Boma, Bui, Gombe road, and Misau road, as well as reconstruction and rehabilitation of 26.5 kilometers 33kV injection sub-station with associated 11kV line networks at Nguru. Stalled NIPPs Privatisation Despite the status and stature of the NIPPs, analysts have posited that the lack of progress on the planned privatisation of its 10 generation assets has remained a challenge. Describing the situation that led to the suspension of the privatisation exercise as unfortunate, they suggested plants should have been privatised and allowed to operate as business entities other than remaining under the controls of the NDPHC. They equally suggested that the NDPHC may have continued to run the plants under tight and difficult conditions, pointing at cases of the low retail tariff allowed for the NDPHC, alleged non-payment of capacity earnings to the NDPHC as well as poor generation dispatch allocations to the plants, as some of the reasons for their fears. Considering that the privatisation process has come a long way and recorded some milestones, analysts suggested that a practical closure of the process would amongst others, fast track Nigeria’s desire to grow her electricity supply industry with additional active capacities. They, however admitted that it would take a great deal of commitment to get the process back on track considering the many challenges of the country’s power industry.

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T H I S D AY ˾ WEDNESDAY JULY 18, 2018

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EDUCATION Transforming Lives through Ogunjobi’s Foundation Moved by the need to transform lives and ensure the progress and development of the people Ikare -Akoko, Ondo State, the Bisi Ogunjobi Foundation has for over 25 years, been awarding scholarships to indigent undergraduates of various disciplines. Funmi Ogundare reports In the hilly and quiet community of Ishakunmi, Ikare, Ondo State, it was a feeling of excitement for 23 indigent indigenous undergraduates of various institutions as they were called out one after another to receive their cheques of N40,000 as scholarship from the founder of the Bisi Ogunjobi Foundation (BOF), Chief Bisi Ogunjobi, to enable them complete their studies. Now in its 26th year, the foundation was established in May 12, 1991 to contribute to the advancement of the masses, particularly those in search of knowledge. An Industrial Chemistry student of Adekunle Ajasin University, Akungba-Akoko, Ondo State, Miss Helen Oluwabunmi Olaniyi said her tuition fee was increased from N25,500 to N100,000 while expressing happiness for being a beneficiary of the scholarship. Olaniyi whose father is a plumber and mother a non-teaching staff in the institution she attends said, “If not for the foundation, I would have dropped out of school. We will be starting our examinations soon and if you are yet to pay your fees, you will not be allowed to sit for the examinations.� She appealed to the foundation to continue to assist the less privileged in the society. An HND II Mass Communication student of Rufus Giwa Polytechnic, Owo, Ondo State, Kehinde Adebusuyi Adejoro, whose parents are traders, said they have been managing to pay his tuition fees, adding that the fund will inspire students to face their studies. A Christian Religious Studies/Social Studies student of The Federal College of Education, Okene, Kogi State, Yomi Yinka Olawunmi whose parents are into petty trading and farming, said she will use the fund to buy textbooks and settle her tuition fee. She thanked the foundation for the gesture. Speaking at the 2017/2018 scholarship award ceremony and health awareness campaign on sickle-cell anemia, diabetes and hypertension held recently, at the BOF Centre, the founder, Chief Bisi Ogunjobi recalled how the programme started 26 years ago when he was Vice President (Operations), African Development Bank (AFDB), where he worked in promoting economic development in various parts of Africa. According to him, “while I worked in promoting economic development in various parts of Africa, I had also concerned myself with personal efforts that could help improve the lot of people in my home community. We started the programme to support the education of the youths because we believe that education is power that would enable them transform themselves and influence the transformation of others .� He also recalled a personal experience he had in his early life as a primary school pupil with a very poor handwriting saying that at that time, he had a classmate who was from a poor background but with a good writing who usually helped him to write his name on new books bought for him by his father. “His parents were relatively poor

Founder of the Bisi Ogunjobi Foundation (BOF), Chief Bisi Ogunjobi and his wife Mercy (middle) flanked by the beneficiaries of the scholarship award and other members of its Board of Trustees (BOT) during the 2017/2018 scholarship award ceremony and health awareness campaign on sickle-cell anemia, diabetes and hypertension held at the BOF Centre, Ikare, Ondo State...recently

and couldn’t afford to buy him books. Whenever my father bought new books for me, I would ask the boy to help write my name on them. I admired him. A few years after I left university and started working with the Central Bank of Nigeria, I was riding in my Toyota Corolla car one day and stopped at a filling station to get some gas. “The attendant turned out to be that classmate of mine. I could see that the difference between both of us was the opportunity which I had to further my education, but which he didn’t have. “This revelation sparked in me a strong desire to reach out to young people who found themselves in such straitened circumstances.� Ogunjobi told THISDAY that once the immediate environment is influenced, it will enhance the development of the committee positively saying, “ the objective is to assist the educationally disadvantaged but brilliant students with poor parental background to attain higher education and training to promote the ideal of self-help and community service, to inculcate the spirit of social responsibility in the youths and contribute to economic development of the Nigerian society.� Asked on the criteria for the selection of the indigent students, the founder said, “We started with the programme when we were focusing on our immediate community in Akoko area where we have four local governments. We also had to ensure that those that benefit are really indigent students, we also listed certain criteria to support some courses

and preference for women. We also focused on Economics because that is my discipline. All these were put into consideration when selecting candidates.� On his assessment of the programme over the years, he said, “ We have been very successful to a large extent. By the time BOF celebrated 25th anniversary of its establishment in 2016, we had awarded scholarships to over 900 Nigerian students, about 70 per cent of whom were university students, while an estimated 20 percent were students from other institutions, with secondary school students accounting for almost 10 per cent. “Most of the beneficiaries who have acquired degrees and professional qualifications in different fields have gone on to become politicians, medical doctors , lawyers and experts in various professions.� Asked how the foundation has been able to monitor the progress of the beneficiaries over the years, he said, “We use their university results to monitor their performance but more importantly, their success today. You can point to a lot who have been beneficiaries who are now successful in their fields now and those that have gone into politics especially the speaker of the state’s national assembly.� He advised the beneficiaries to be serious with their studies because, “a lot of their parents are struggling to ensure that they can get education. They should refuse to be members of various cults

and avoid drugs or joining evil societies, eschew peer pressure that will mislead them from being successful. I encourage them to be socially responsible in the community. One of the things I always say is that generosity is not a mark of wealth but an innate compassion.� As a result of the foundation’s effort, he noted that it had received recognitions, and appreciation letters from the students and their parents saying, “they write letters to appreciate what we do for them, we also have the community and those that have benefitted from the programme themselves including the National Association of Nigerian Students (NANS) in Akoko. We have recognised them and they have given us a lot of award.� Emphasising on the health initiative, Ogunjobi said, “It is what the foundation has branched into to complement government’s effort in providing health facilities in the community and sensitize the people by creating an awareness that there are deadly diseases like hypertension , diabetes and sickle cell disorder, so that they will know exactly what it is and where to go for check up and treatment.. A lot of them cannot afford medications, so we also complement that by providing some of these drugs and screening exercise for treatment.� A member of the Board of Trustees (BOT) , Mr. Samuel Alaba Adekola who thanked the founder for his generosity and service to humanity, advised the beneficiaries to use the opportunity judiciously.

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EDUCATION

FEDPOLY Management Suspends Two Union Leaders for Cultism Hammed Shittu in Ilorin The Management of Federal Polytechnic, Offa, Kwara state has suspended indefinitely, two students union leaders of the institution, Tajudeen Selim and Temitope Omotosho , suspected to be cult members. This is contained in a press statement issued by the Rector, Dr Lateef Ademola Olatunji, made available to journalists in Ilorin. Earlier before the students were paraded by the police, the institution had reported

the incidence of forceful initiation to security agencies when a student who was forcefully initiated lodged a complaint to the institution. The statement read in parts, “The police quick response and intervention was evidently responsible for their arrest. The two suspected students were suspended indefinitely pending the outcome of the police investigation and further findings on the matter. Vincent Adewusi who was mentioned along with the two has ceased to

be a student of the institution having been withdrawn from the polytechnic since 2017 for poor performance. “The management wishes to state unequivocally that cases of cultism have been a thing of past in the institution as the new management under Dr. Lateef Ademola Olatunji has purged the institution of all forms of cultism, gangsterism and other anti-social vices since he came on board as rector in 2017. We have been dealing decisively with any student suspected to

be involved in cultism or any criminal acts..� It warned that, “Other offences such as examination malpractices, sexual harassment are also gross misconduct at the polytechnic which attract outright expulsion from the institution. Students found culpable are equally handed over to the law enforcement agents for prosecution.� According to the statement, “ the management, through the Directorate of Students’ Affairs has put a lot of measures in place to checkmate cultism with

the introduction of the use of security form, for newly admitted students; regular sensitisation of students where they are admonished to steer clear of cultism, hooliganism and other forms of social menace. It added that ,�The students have since been tutored to be of good conduct everywhere they are in order to ensure peaceful coexistence within and outside the polytechnic campuses and maintaining harmonious relationship with other colleagues and the host communities.

“Since then, the students’ union executives and other students have been well behaved and have not been found wanting both in character and learning. “It is on record that the polytechnic enjoys a serene atmosphere, peace and tranquility than ever before. It was likely because of the institution’s zero tolerance for cultism and stern sanctions on offenders who contravene and breach the rule that led the suspects to have taken themselves outside Offa to perpetrate the acts�

Foundation Champions Advocacy to Improve Maths, English Language Skills Hammed Shittu in Ilorin The Kwara State Government has expressed its readiness to partner private sector and corporate organisations to advance the standard of education in the state. Already, the government has collaborated with a nongovernmental organisation, Saliu Mustapha Foundation, to boost Mathematics and English Language skills across all schools in the state. The state Commissioner for Education and Human Capital Development, Hajia Bilikisu Oniyangi, disclosed this to journalists in Ilorin, the state capital in preparation for the maiden Inter-Secondary School Mathematics and English competition sponsored by the foundation. She restated the commitment of the state government towards ensuring adequate funding of education sector, noting that the ministry had designed policies and programmes aimed at rejuvenating the sector and accord it the place of pride. She said education is seen as a collective responsibility in advanced climes with private individuals and corporate organisations undertaking infrastructural needs in schools

through endowment fund. The commissioner, who said all hands must be on deck to address the needs in the education, urged stakeholders to support the government in its quest to reposition the sector. “It must be placed on record that the present government is committed to improving the standard of education in the state through adequate funding and provision of necessary infrastructural facilities. The ministry of education under my leadership has set out policies and programmes towards this direction. “In advanced countries, education is seen as a collective social responsibility where private individuals and corporate organisations contribute to the development of educational sector through endowment, building of facilities, scholarship or through this kind of inter schools competition. “This lofty initiative is commendable and worthy of emulation by individuals and corporate organisations, because to have a vibrant education sector, all hands of stakeholders must be on deck. The state government is ready for partnership that will advance the education sector�, the commissioner said.

108 Students Set to Compete for 2018 Cowbellpedia Star Prize Five months after 41,735 secondary school students sat for the qualifying examination of the 2018 Cowbellpedia Mathematics TV Quiz Show, the second stage of the competition is about to commence. A total of 108 students who scaled the first hurdle will engage in the game of speed and accuracy for the ultimate prize in the competition sponsored by Cowbell, the flagship brand from Promasidor Nigeria Limited. The second stage, which is in a quiz format, will take the candidates through the preliminary, semi-final and final rounds. The show will be broadcast in 13 weekly episodes on major television stations across the country, including DSTv. The 108 qualifiers are in two categories, 54 each for the junior and senior categories from among whom the champions will eventually emerge. A breakdown of the qualifying examination results showed that there were three perfect scores in the junior category

from two schools. These are Favour Okarike and Benny Sampson, both of Graceland International School, Port Harcourt, Rivers State; and Chiedozie Okezie Uzochukwu of Nigerian Tulip International College, Abuja. The Managing Director of Promasidor Nigeria Limited, Mr. Anders Einarsson explained that the company has demonstrated its commitment to the project by doubling the prize money for the best students and their teachers this year as part of the 20th anniversary of Cowbell and mathematics in Nigeria. The ultimate winner in each of the categories will be rewarded with N2 million plus an all-expense paid educational excursion abroad, while the first and second runners-up will receive N1.5 million and N1 million respectively. In each category, the teacher of the top prize winner will get N500,000, while those of the first and second runners-up will receive N400,000 and N300,000 respectively.

The former Governor of Anambra State, Mr. Peter Obi, presenting a cheque of one million naira for the continued improvement of Madonna Academy, Iyiowa, Odekpe in Onitsha Metropolis, recently

Old Students Association Babcock Varsity Holds Gives Back to Alma Mater BIMUN Conference Peace Obi As part of efforts and commitment towards building a better society, the old students of Stadium High School, Surulere, 1993 set were at their alma mater recently to present 20 desktop computers 20 computer sets to improved teaching and learning experiences in the school. The old students who have been in touch with the school and had previously donated books for the school’s library, human anatomy for the study of Biology , set of chairs and tables, among others, said they believe that the burden of providing quality education cannot be left for the government alone to shoulder. Speaking at the presentation ceremony, the President of the Association, Mr. Olalekan Fayombo said the gesture was to spur the students to be focused on their studies as well as enable them to enjoy 21st-century learning experience, using necessary ICT equipment. According to him, “ with the influence of technology virtually on every human activity, students cannot afford to lag behind in the use of ICT in their studies and must be given the needed support and access to it. Now

that the world is moving from analog to digital, we do not want our school and the students to lag behind, which is what informed our decision to make the donation of this ICT equipment to both the junior and the senior schools.� He encouraged the students to spend quality time on the systems noting that the computers are loaded with educational apps and programmes like Brainfriend for both senior and junior secondary schools, JAMB UTME, e-books and educational videos. He disclosed that one of the old students had volunteered to help the school with a one-week hands-on training, saying, “This is a programme that will continue and that is why we have involved some of our friends. We are also hoping to partner with a non government organisation and some friends in this project of giving a helping hand to our school. We will continue to work with the school to intervene in their identified areas of needs. At the moment, the schools said that ICT is their most pressing need and that is what we have provided.� While admonishing the students, the president advised them to study hard, dream big, remain focused and make maximum use of the facilities.

Ugo Aliogo Babcock University Ilishan, Reno, Ogun state, recently held the second edition of the Babcock University International Model United Nations (BIMUN) conference as part of efforts to provide an atmosphere for students to meet and enrich their knowledge and experiences of the institution. Addressing journalists at the conference with the theme: ‘Climate Change-Induced Conflicts: A Roadmap for Achieving the Sustainable Development Goals’, the Vice-President, Professor Ademola Toyo said the second edition is an affirmation of their commitment to making BIMUM an integral and regular part of their tradition as an institution. He noted that with God on their side, they will work towards making the university a reference point in Africa for the Model United Nations (MUN) programmes, adding that this years’ conference is another step in the journey of many future MUNs. Tayo, who lauded the BIUMUN team for convening the programme in collaboration with the university and the United Nations Information Centre (UNIC), said the choice of the

theme was timely considering the role the sustainable goals played in charting a path for meaningful and all-encompassing development in the world. “2017 was one of the three warmest records, an analysis by the World Meteorological Organisation (WMO) revealed that the five-year average global temperature from 2013 to 2017 was the highest on record.� The VC affirmed that the world has continued to experience rising sea levels, extreme weather conditions and increased concentrations of greenhouse gases, adding, “ the Africa continent is at the receiving end and suffers adverse effects of the backlash of climate change. This is even more important when situated within the context of environmental conflicts. Such conflicts have devastated Africa and also generated a mass of internally displaced persons and a stream of environmental refugees. “ Achieving any meaningful development within this condition would be an effort in futility. This has not allowed Africa as a continent to translate the vast natural and human resources nature has bestowed upon her into any reasonable benefit for her teeming populations.

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Continuous Dialogue will Enhance Parents, Teachers, Students’ Relationship, Says Egbeyemi Miss Oyindamola Egbeyemi is the ExecutiveAdministrator of The Foreshore School, Ikoyi. She explained to some journalists including Funmi Ogundare why parents Treasure of Little Computer need to engage in continuous dialogue with their children, saying that aside their Ă˜ ĂžĂ‹ĂŒĂ–Ă? ĂžĂĄĂ™Ëœ ĂœĂ“Ă‘Ă’Ăž ĂŒĂ?Ă?Ă“ĂŽĂ? Ă—Ă? Ă‹Ăž ÞÒĂ? Ă–Ă“ĂŒĂœĂ‹ĂœĂŁ Ă‹ ĂĄĂ?Ă?Ă• Ă‹Ă‘Ă™Ëœ ĂĄĂ‹ĂžĂ?Ă’Ă?ĂŽ Ă‹Ă? Ă‹ ĂŁĂ?Ă‹Ăœ ĂžĂ’ĂœĂ?Ă?Ě‹ Ă?Ă?Ă Ă?Ă˜ Đ ĂŁĂ?Ă‹ĂœĚ‹Ă™Ă–ĂŽ Ă?Ă’Ă“Ă–ĂŽ Ă‹ĂŽĂ?ÚÞÖã ĂŽĂ™ĂĄĂ˜Ă–Ă™Ă‹ĂŽĂ?ĂŽ Ă‹Ă–Ă– ÞÒĂ? proper upbringing, it would make them to feel safe both at home and at school Ă“Ă˜Ă?Ă™ĂœĂ—Ă‹ĂžĂ“Ă™Ă˜ Ă’Ă? ĂĄĂ‹Ă˜ĂžĂ?ĂŽ ÞÙ Ă“Ă˜Ă?Ă–Ă&#x;ĂŽĂ? Ă“Ă˜ Ă’Ă“Ă? ÚÙåĂ?Ăœ Ă™Ă“Ă˜Ăž ĂšĂœĂ?Ă?Ă?Ă˜ĂžĂ‹ĂžĂ“Ă™Ă˜ Ă‹Ăž Since your appointment, what effort have you made to ensure the development of the school that will enhance teaching and learning? It has been a long year of growth and development for both teachers and children. Basically teaching and learning has always been good at the school and the quality of our education is one of the things that make us to stand out in terms of paying attention to details and individualised attention. This year, we have taken it to another level in terms of improving on our standard and creativity as well as organisation just to ensure that what we are doing is up to standard . As a British school, there are certain expectations of us and of course, our parents have their own expectations as well. So we are trying to blend everyone’s need and tailor our curriculum as a school and our style of delivery to suite what is best for the child as well. Our communication channels are opened , so parents contact us directly everyday via all media . In terms of affiliation, we are affiliated with Association of Private Educators of Nigeria(APEN) and Association of International Schools Educators of Nigeria (AISEN). Through this association , we interact with other schools in the same league as ours . It a way of checkmating our peers to know that what we are doing is right . Education is not a competition but more of a collaboration., and as an association, its more of knowledge sharing and we do take information back to our individual school and use that to further develop ourselves . For the children, its about them interacting with other children from other schools . They have participated in several competitions and came out tops. Those are very encouraging things to move on. Because of our small number, we try to pay attention to each child. One of our selling points here is that we individualize attention . We don’t plan to expand our passion beyond our capacity . We only want to have one arm of each classroom because we want to pay attention to details and ensure that we don’t lose quality of what we are giving the children. How is the school reacting to the culture of internet and social media and how are you preparing the children to cope? Even as adults, we are exposed to a lot of media and information; some may be the truth and some

Ă’Ă“Ă? Ă?Ă?ÒÙÙÖ ĂŽĂ&#x;Ă? Ă“Ă˜ ÞåÙ ĂĄĂ?Ă?Ă•Ă?Ë› Ă“Ă? ĂŁĂ?Ă‹Ăœ Ă‘ĂœĂ™Ă&#x;Ăš Ă“Ă? Ă“Ă˜Ă Ă?Ă?ĂžĂ“Ă‘Ă‹ĂžĂ“Ă˜Ă‘ Ă˜Ă?Ă“Ă?Ă˜Ăž ÑãÚÞ Ă‹Ă˜ĂŽ Ă’Ă“Ă? ĂŒĂœĂ“Ă?Ă? Ă“Ă? ÞÙ Ę¨Ă˜ĂŽ Ă™Ă&#x;Ăž Ă?Ă‹Ă?ĂžĂ? Ă‹ĂŒĂ™Ă&#x;Ăž ÞÒĂ? ĂšĂ’Ă‹ĂœĂ‹Ă™Ă’Ă?Ë› Ă?Ëœ Ă–Ă“Ă•Ă? ÞÒĂ? ĂœĂ?Ă?Ăž Ă™Ă? ÞÒĂ? Ă?Ă’Ă“Ă–ĂŽĂœĂ?Ă˜ Ă“Ă˜ Ă’Ă“Ă? ĂŁĂ?Ă‹Ăœ Ă‘ĂœĂ™Ă&#x;ĂšËœ Ă—Ă&#x;Ă?Ăž Ă?ĂœĂ?ËÞÓà Ă?Ă–ĂŁ Ă?Ă™Ă&#x;ĂœĂ?Ă?Ëœ Ă™ĂœĂ‘Ă‹Ă˜Ă“Ă¤Ă? Ă‹Ă˜ĂŽ ÞãÚĂ? Ă&#x;Ăš ÞÒĂ?Ă“Ăœ Ă?Ă‹Ă?ĂžĂ?Ëœ Ă?Ă‹Ă Ă? ÞÒÓĂ? Ă™Ă˜ Ă‹ ĘŽĂ‹Ă?Ă’ ĂŽĂœĂ“Ă Ă? Ă‹Ă˜ĂŽ Ă?Ă&#x;ĂŒĂ—Ă“Ăž Ă“Ăž ÞÙ ĂžĂ?Ă‹Ă?Ă’Ă?ĂœË› Ă‹Ă?Ă’ Ă?Ă’Ă“Ă–ĂŽ ĂĄĂ™Ă&#x;Ă–ĂŽ ĂšĂœĂ?Ă?Ă?Ă˜Ăž ÞÒĂ?Ă“Ăœ ĂĄĂ™ĂœĂ• ÞÙ Ă?Ă–Ă‹Ă?Ă?Ë› ĂœĂ?ĘŽĂ?Ă?ĂžĂ?ĂŽ Ă™Ă˜ Ă—ĂŁ Ă?âÚÙĂ?Ă&#x;ĂœĂ? Ă‹Ă˜ĂŽ Ă?ĂŽĂ&#x;Ă?Ă‹ĂžĂ“Ă™Ă˜ Ă?Ă™ Ă?Ă‹Ăœ Ă‹Ă˜ĂŽ Ă?ÞËÑÑĂ?ĂœĂ“Ă˜Ă‘Ă–ĂŁ ĂœĂ?ËÖÓäĂ?ĂŽ ÞÒËÞ Ă—ĂŁ Ę¨ĂœĂ?Ăž ĂšĂœĂ?Ă?Ă?Ă˜ĂžĂ‹ĂžĂ“Ă™Ă˜ Ă™Ă? ÞÒÓĂ? Ă?Ă™ĂœĂž Ă?Ă Ă?Ăœ ĂĄĂ‹Ă? Ă“Ă˜ ÞÒĂ? Ă?Ă‹ĂœĂ–ĂŁ Í°ÍŽÍŽÍŽËœ Ă“Ă˜ Ă—ĂŁ ͹͎Ă? Ă‹Ă˜ĂŽ Ă‹Ă? Ă‹Ă˜ Ă‹ĂŽĂ&#x;Ă–Ăž Ă‹Ă–ĂœĂ?Ă‹ĂŽĂŁ Ă›Ă&#x;ËÖÓʨĂ?ĂŽ Ě™Ă“Ă˜ Ă‹Ă˜Ă™ĂžĂ’Ă?Ăœ ĂšĂœĂ™Ă?Ă?Ă?Ă?Ă“Ă™Ă˜ËŁÍŽ Ă‹Ă˜ĂŽ ÒËÚÚĂ?Ă˜Ă?ĂŽ Ă“Ă˜ ÞÒĂ? Ë›

Ă˜ Ă“Ă‘Ă?ĂœĂ“Ă‹ Ă‹Ă˜ĂŽ ĂŒĂ?ĂŁĂ™Ă˜ĂŽ Ă“Ă˜ ÞÒÓĂ? ĂšĂœĂ?Ă?Ă?Ă˜Ăž Í°ÍŽÍŻÍ˛Ëœ ĂĄĂ? Ă–Ă“Ă Ă? Ă“Ă˜ ĂžĂ?Ă?Ă’Ă˜Ă™Ă–Ă™Ă‘ĂŁĚ‹ ĂŽĂœĂ“Ă Ă?Ă˜ ÞÓ×Ă?Ă? Ă‹Ă˜ĂŽ ĂŁĂ™Ă&#x; ĂŒĂ?ĘľĂ?Ăœ ĂžĂ&#x;Ă˜Ă? Ă&#x;Ăš ÞÙ ÓÞ˛ Ă? ĂŁĂ™Ă&#x; ĂŽĂ™ Ă˜Ă™Ăž Ă—Ă‹Ă•Ă? ÞÒĂ? Ă?ĘĽĂ™ĂœĂž ĂžĂ™Ëœ ÚÙĂ?ĂžĂ?ĂœĂ“ĂžĂŁ ĂĄĂ“Ă–Ă– Ă‹Ă?Ă• ĂŁĂ™Ă&#x; ĂĄĂ’ĂŁ Ă‹Ă˜ĂŽ ĂŽĂ?Ă‹Ăœ Ă?ĂœĂ“Ă?Ă˜ĂŽĂ?Ëœ Ă—Ă™Ă?Ăž Ă™Ă? ĂŁĂ™Ă&#x; ĂĄĂ™Ă&#x;Ă–ĂŽ Ă’Ă‹Ă Ă? Ă˜Ă™ Ă™Ă˜Ă? ÞÙ ĂŒĂ–Ă‹Ă—Ă? ̙ÓĂ? ĂŁĂ™Ă&#x;ËŞĂŽ ĂŒĂ? ĂžĂœĂ&#x;ÞÒĂ?Ă&#x;Ă–Ěš ĂŒĂ&#x;Ăž ĂŁĂ™Ă&#x;ĂœĂ?Ă?Ă–Ă Ă?Ă?Ë› Ă’Ă?ĂœĂ? ĂŽĂ™ ĂŁĂ™Ă&#x;Ăœ ĂšĂœĂ“Ă™ĂœĂ“ĂžĂ“Ă?Ă? Ă–Ă“Ă•Ă?ËŁ Ă™Ăœ Ă™Ă˜Ă?Ëœ Ă—Ă™Ă?Ăž Ă“Ă‘Ă?ĂœĂ“Ă‹Ă˜Ă?Ëœ Ă“Ă˜Ă?Ă“ĂŽĂ? Ă‹Ă˜ĂŽ Ă™Ă&#x;ĂžĂ?Ă“ĂŽĂ? Ă™Ă&#x;Ăœ Ă?ÓÞÓĂ?Ă?Ëœ Ă“Ă˜ Ă™Ă&#x;Ăœ Ă Ă“Ă–Ă–Ă‹Ă‘Ă?Ă?Ëœ Ă“Ă˜Ă?Ă“ĂŽĂ? Ă™Ă&#x;Ăœ Ă?Ă™ĂœĂ?Ă?ĂžĂ? Ă‹Ă˜ĂŽ ĂœĂ?Ă?Ă?ĂœĂ Ă?Ă?Ëœ Ă™ĂĄĂ˜ Ă‹Ă˜ĂŽ Ă&#x;Ă?Ă? Ă—Ă™ĂŒĂ“Ă–Ă? ĂšĂ’Ă™Ă˜Ă?Ă?Ë› Ă&#x;Ăœ Ă?Ă?ĂœĂ Ă?ĂœĂ? ĚŽ Ă“ĂœĂžĂ?Ă–Ëœ ÞÓĂ?Ă‹Ă–Ă‹ĂžËœ Ă–Ă™ Ă?ĂžĂ? Ă?Ă™Ă˜ĂžĂ“Ă˜Ă&#x;Ă? ÞÙ ĂœĂ?Ă‹Ă?Ă’ Ă?Ă&#x;ĂœĂžĂ’Ă?Ăœ Ă“Ă˜ĂžĂ™ Ă™Ă&#x;Ăœ Ă’Ă“Ă˜ĂžĂ?ĂœĂ–Ă‹Ă˜ĂŽĂ?Ë› Ă?Ă‹Ă?Ă’Ă?ĂœĂ?Ëœ Ă—Ă‹Ă•Ă? Ă&#x;Ă?Ă? Ă™Ă? ÞÒÓĂ? ĂžĂ?Ă?Ă’Ă˜Ă™Ă–Ă™Ă‘ĂŁ Ă‹Ăž Ă–Ă?Ă‹Ă?Ăž ÞÙ Ă›Ă&#x;Ă“Ă?Ă•Ă–ĂŁ ĂŒĂœĂ™ĂĄĂ?Ă? Ă?Ă™Ăœ Ă“Ă˜Ă?Ă™ĂœĂ—Ă‹ĂžĂ“Ă™Ă˜ Ă™Ă˜ ĂŁĂ™Ă&#x;Ăœ ÞÙÚÓĂ?Ă?Ë› ĂœĂ“Ă™ĂœĂ“ĂžĂ“Ă?Ă? ĂŁĂ™Ă&#x;Ăœ ĂžĂ?Ă‹Ă?Ă’Ě‹ Ă“Ă˜Ă‘ ÑÙËÖĂ? ÞÙ Ă“Ă˜Ă?Ă™ĂœĂšĂ™ĂœĂ‹ĂžĂ? Ă“Ă˜Ă?Ă™ĂœĂ—Ă‹ĂžĂ“Ă™Ă˜ Ă™ĂŒĂžĂ‹Ă“Ă˜Ă‹ĂŒĂ–Ă? ĂŒĂŁ ĂžĂ?Ă?Ă’Ă˜Ă™Ă–Ă™Ă‘ĂŁË› ĂŽĂ™ Ă‹Ă‘ĂœĂ?Ă? ÞÒËÞ Ă—Ă‹Ă˜ĂŁ Ă—Ă™ĂœĂ? Ă™Ă? Ă™Ă&#x;Ăœ Ă?Ă?ÒÙÙÖ ĂšĂœĂ™ĂšĂœĂ“Ă?ĂžĂ™ĂœĂ? Ă‹Ă˜ĂŽ Ă?ĂžĂ&#x;ĂŽĂ?Ă˜ĂžĂ? Ă‹ĂœĂ? Ă‹Ă?ĂšĂ“ĂœĂ“Ă˜Ă‘ ÞÙ Ă&#x;Ă?Ă? ĂžĂ?Ă?Ă’Ă˜Ă™Ă–Ă™Ă‘ĂŁ Ă“Ă˜ Ă?Ă–Ă‹Ă?Ă?ĂœĂ™Ă™Ă—Ă? Ă‹Ă?ĂœĂ™Ă?Ă? ÞÒĂ? Ă?Ă™Ă&#x;Ă˜ĂžĂœĂŁË› Ă’Ă‹Ă Ă? Ă?Ă?Ă?Ă˜ Ă—Ă™ĂœĂ? Ă?ĂžĂ&#x;ĂŽĂ?Ă˜ĂžĂ? Ă™Ă˜ ÞÒĂ?Ă“Ăœ Ă—Ă™ĂŒĂ“Ă–Ă? ĂšĂ’Ă™Ă˜Ă?Ă? Ă‹Ă˜ĂŽ Ă“Ă˜ Ă?ĂŁĂŒĂ?ĂœĚ‹Ă?Ă‹Ă?Ă?Ă? Ă?Ă&#x;ĂœĘ¨Ă˜Ă‘ ÞÒĂ? Ă“Ă˜ĂžĂ?ĂœĂ˜Ă?ĂžËœ Ă&#x;ĂšĂŽĂ‹ĂžĂ“Ă˜Ă‘ ÞÒĂ?Ă“Ăœ Ă?Ă™Ă?Ă“Ă‹Ă– Ă˜Ă?ĂžĂĄĂ™ĂœĂ• Ă?Ă“ĂžĂ?Ă?Ëœ ĂŽĂ™ĂĄĂ˜Ă–Ă™Ă‹ĂŽĂ“Ă˜Ă‘ Ă—Ă&#x;Ă?Ă“Ă? Ă‹Ă˜ĂŽ Ă Ă“ĂŽĂ?Ă™Ă? Ă‹Ă˜ĂŽ ĂŽĂ™ĂĄĂ˜Ă–Ă™Ă‹ĂŽĂ“Ă˜Ă‘ Ă“Ă˜Ă?Ă™ĂœĂ—Ă‹ĂžĂ“Ă™Ă˜ Ă?Ă™Ăœ ÞÒĂ?Ă“Ăœ Ă‹Ă?Ă?Ă“Ă‘Ă˜Ă—Ă?Ă˜ĂžĂ?Ë› Ă™ ÞÒĂ?Ă?Ă? Ă?ĂžĂ&#x;ĂŽĂ?Ă˜ĂžĂ?Ëœ Ă?Ă‹ĂŁ Ă•Ă?Ă?Ăš Ă“Ăž Ă&#x;ĂšË Ă‹Ă˜ĂŁ Ă?Ă Ă?Ă˜ Ă™ĂĄĂ˜ Ă‹Ă˜ĂŽ Ă&#x;Ă?Ă? Ă’Ă“Ă‘Ă’Ě‹ĂžĂ?Ă?Ă’ Ă—Ă™ĂŒĂ“Ă–Ă? ĂšĂ’Ă™Ă˜Ă?Ă? Ă‹Ă˜ĂŽ Ă‹ĂœĂ? Ă Ă?ĂœĂŁ ĂžĂ?Ă?Ă’Ă˜Ă™Ă–Ă™Ă‘ĂŁ Ă–Ă“ĂžĂ?ĂœĂ‹ĂžĂ? ĂžĂ’ĂœĂ™Ă&#x;Ă‘Ă’ ĂœĂ?Ă‘Ă&#x;Ă–Ă‹Ăœ Ă&#x;Ă?Ă? Ă™Ă? ÞÒĂ?Ă“Ăœ Ă’Ă‹Ă˜ĂŽĚ‹Ă?Ă?ĂžĂ?Ë› Egbeyemi

Mrs Kehinde Omoru writes from the UK false. So what Foreshore school does is instilling those core values in individuals regardless of those information available out there, there is a little control over what people send out for others to read or hear. But what is important is how we instill those critical and basic foundational values of integrity, discipline and respect in the children. So learning by all these at school , we should always be honest with people . Regardless of the information that is out there , they know that based on their moral compass, they should keep themselves out of trouble. In the past you could always clarify any information available, There is peer pressure out there , and with social media, they seem to get distracted. How would you describe the relationship between the parents and the school over the years? For me, I believe that the only way to feel safe is through communication and there is a direct dialogue between the parents and the school management over any issue. In bringing up a child, I found out that in our environment, we don’t take enough responsibility over children. We rely a lot on the school and our religious outreach such as the church . There is a huge role that parents have to take in bringing up their children, even when it comes to doing homework and

interacting with them on a daily basis . I understand that these days, parents are very busy and work till late hours, they need to find a balance between their work, life and family; and everything else that they have to do outside . There is need for them to take their time in communicating with their children and ask them basic questions. These will go a long way in helping the children and make them to feel safe at home and at school . So at school, we try to provide enough of that work environment, we try to know our children on a one-on-one basis. Every member of staff in the school knows every singe child by name and character. So if there is something wrong like if the child is sick , we can call the parents. So dialogue is continuous , and the parents need to understand that they too need to be very involved in the upbringing of their children. What has been your challenges so far and how is the school addressing it? The main thing we are talking about is actually education outside the classroom, so we are talking about issues on education administration, operation, finance, management, pastoral care and mental health . For instance, the child may experience depression because

they can’t handle what they are going through. Depression is shockingly becoming common even among Nigerians and we are beginning to ask ourselves. It is becoming common even among Nigerians and we are beginning to ask ourselves what we are doing right or wrong and how we can improve the mental health of these children , parents and our teachers. It is not all about teaching, but how is the teaching environment like? Are you happy and fulfilled in your job? My mother has always said that you don’t need to come to the school if you are not happy being a teacher . We look out for the passion in the teacher before they are allowed to teach here. It is not rocket science . We look for people who are genuinely passionate about children , and what educationists are talking about now is providing that environment that is conducive enough for the teachers to enjoy what they do. A lot of discussion is also going on around engaging with parents. As much as parents are finding it difficult to engage with their children these days, parents have direct contact with schools. Sometimes the schools will not know how to address the issues that the parents bring up . Some of these issues lead to cracks and they never address it. Sometimes you hear parents complain about certain schools,but they don’t know who to talk to about issues.

10,000 Teachers Benefit from Motorcycle Loan in Niger Laleye Dipo in Minna 10,000 teachers in public primary and junior secondary schools in Niger State are to benefit from the N2.1 billion motorcycle loan scheme designed to enhance the productivity and provide mobility for those teaching in ‘hard to reach rural areas of the state. The state Commissioner for Education Hajia Fatima Madugu, who disclosed this, said the scheme has been approved by the state executive council and the fund will soon be disbursed

by the state government. She said the gesture was also meant to bring succour to the beneficiaries and improve their working conditions. According to her, “Niger State government through the State Universal Primary Education Board (SUBEB) approached a commercial bank to obtain a loan of N2.1 billion to procure motorcycles to be given out on loan to teachers in primary and junior secondary schools in the state to facilitate their movement. “This initiative was packaged to improve the welfare

of our teachers, especially those teaching in the hard to reach rural areas of the state and to further enhance their working condition, improve quality of teaching and motivate teachers. “After a thorough screening exercise which had all the stakeholders; Ministry of Education, SUBEB, the bank and the Nigeria Union of Teachers (NUT), 10,000 beneficiaries of the scheme emerged out of the 22,367 teachers in public primary and junior secondary schools in the state.� The commissioner said the

scheme would soon be flaggedoff had beneficiaries in all the 3,166 primary schools and 60 junior secondary schools in the state. “All arrangements have been concluded and all necessary modalities carried out for the take- off of the scheme. The repayment plan for the loan is 18 months and due diligence was carried out by the government in order to ensure only qualified teachers and those who are not indebted to any loan will benefit,� While he said the school

NB Extends Entry Deadline for Maltina Teacher of the Year Award Nigerian Breweries PLC, has extended the deadline for submission of entry for the 2018’ Maltina Teacher of the Year’ to July 20, 2018. The Maltina Teacher of the Year ’, is an initiative of Nigerian Breweries PlcFelix Ohiwerei Education Trust Fund, designed to , showcase and reward outstanding teachers in the country. The organisation ‘s Corporate Affairs Adviser, Mr. Kufre Ekanem said the extension was due to the pressure from teachers across the country who wanted more time to complete the process., adding that the entry for this year ’s edition has been on since

May 25. Ekanem advised interested teachers to avail themselves of the new opportunity by downloading application forms from the Maltina website; www. maltina-nigeria.com, noting that the applications forms, should be completed and uploaded to the website or sent by email to maltinateacheroftheyear@ heineken.com or by post to PMB 12632, Marina, Lagos. The 2018 Maltina Teacher of the Year will receive N1 million, a trophy and another N1 million every year for the next five years, as well as a block of classrooms built at the school where he or she teaches.

Obi Faults the Implementation of UBEC The former Governor of Anambra State, Mr. Peter Obi, has faulted the implementation of the Universal Basic Education Commission’s (UBEC) programme, saying that contrary to the manner of its implementation that it was actually supposed to benefit all the pupils in the country, including those that attend private schools. Obi who made this observation, recently during his visit to Madonna Academy, Iyiowa, Odekpe, in Onitsha, said he took special interest on how other African countries like Kenya and Rwanda which he had visited in the course of school support, implemented their own universal basic education policy, He called on the federal government to strengthen UBEC by accommodating all

children whether in private or public schools, saying that it was about time emergency was declared on education in the country. “In Kenya, for example, money meant for schools are sent directly to the schools because allowing it to go through intermediaries subject it to shedding of weight along many toll gates, “ Obi said. Speaking to the students of Madonna Academy, Obi who donated the sum of one million naira to them for infrastructural support, encouraged them to see education as a necessary companion in life. In his words: “I am where I am today because of education. I am here to reveal that truth to you as a way of encouraging you to see education as the best and necessary companion in life.�

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T H I S D AY ˾ WEDNESDAY JULY 18, 2018

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BUSINESS/MONEYGUIDE

AFC Grants Waltersmith $35m Facility for Refinery Project Nume Ekeghe The Africa Finance Corporation, (AFC) has signed a $35 million debt facility agreement with Waltersmith Refining and Petrochemical Company Limited, for a proposed 5,000 barrel per day (bpd) refinery project to be situated in Imo state. The agreement, which was signed yesterday, expected to produce 5,000 bpd as early first quarter of 2020, would contribute 271 million litres of refined products annually. It would cater to states in the eastern region. Speaking yesterday at the signing ceremony, the Chairman/Chief Executive officer Waltersmith refining and petrochemical company, Mr. Abdulrazaq Isa said, “The investment by Waltersmith, AFC and Nigerian content development and monitoring board (NCDMB) into this refinery project is clearly strategic and cannot be coming at a better time. “On our part, we have been plagued by the frequent unrest in the Niger Delta area, which has hampered our production for a cumulative period of 747 days. “This is equivalent to two years out of out 10 years of operational existence beginning in March 2008. Our investment in this project became imperative

to enable continuous production from our upstream business all year round without interruptions arising from vandalisation of crude oil pipelines. “In addition, Waltersmith will be able to contribute about 271 million litres of refined product annually to the Nigerian economy, serve as an import substitution for meeting domestic demand for petroleum products, create both direct and indirect employment opportunities as well as reduce the amount of foreign exchange demand on the country’s treasury needed to import these products.� The NCDMB investment in the project was in line with the federal government initiative of enabling local refinery capacity in the downstream sector, as well as generating more employment opportunities for Nigerians. The NCDMB also recognises the opportunity to create a long term multiplier effect on the Nigerian economy through the realisation of the project. Furthermore, he added: “The AFC, a foremost Development Bank, has continued to demonstrate a strong commitment to infrastructural development in Nigeria and Africa. “This is evident in the commitment and immense contribution they have made to the success of the development phase of the refinery project. In the course of out transaction,

AFC has strengthened the risk management framework of the overall project, thereby ensuring timely delivery of project within budget.� Speaking further on the sidelines of the event, he said, “It would take 18 months. It is a turnkey project and we have started counting down and the work has already started, and we are expecting to have the refinery commissioned in January or February 2020.� On his part, the Senior Director Investments Group at the Africa Finance Corporation (AFC)Mr. Taiwo Adeniji said the AFC had been working with Waltersmith for close to four years in trying to get the project off the ground. “We know that Nigeria spends an enormous amount of foreign currency in importing petroleum products. “Companies such as Waltersmith are making an effort to reverse this trend of using our currency to reverse this strength of using our scarce foreign currency to import refined petroleum products deserve all our support and that is exactly what AFC is doing by supporting the development of this project. “We have found Waltersmith a very credible company that deserves our support and we sincerely believe that this particular project would be the first phase of many more,� he added.

Ecobank Fails against Honeywell as Supreme Court Dismisses Appeals The ongoing dispute between Honeywell and Ecobank was said to have taken a new turn last Friday, when the Supreme Court dismissed all three appeals filed by Ecobank for lack of merit. According to a statement, in a unanimous decision by the learned judges of the apex court, the ruling was that Ecobank’s appeals were frivolous. The Court of Appeal on 30th March, 2016, had issued rulings against Ecobank which the bank thereafter appealed at the Supreme Court. In its ruling of 13th July, 2018, the Supreme Court dismissed all the appeals in their totality. In suit No. SC/402/2016, Ecobank had appealed the decision of the Court of Appeal discharging the exparte injunctive/asset freezing orders which it had obtained against Honeywell. In suit No. SC/406/2016, Ecobank had also appealed

the decision of the Court of Appeal which had affirmed the jurisdiction of the Federal High Court to hear the suit filed by Honeywell Companies. The Court of appeal had also ordered accelerated hearing of the suit at the Federal High Court and Ecobank also challenged this ruling at the Supreme Court. Finally, in suit No. SC/407/2016., Ecobank appealed the ruling of the Court of Appeal striking out, rather than dismissing, the contempt proceedings filed by Honeywell. “In delivering judgment, the Justices of the Supreme Court reprimanded Ecobank for wasting the Court’s time by filing appeals which it described as frivolous, particularly in light of the myriad of critical matters before the apex court. “The Supreme Court also advised Ecobank’s lawyers against filing such applications in the future. The court finally awarded costs totaling

N2,500,000 against Ecobank and also affirmed the directive for accelerated hearing at the Federal High court as earlier issued by the Court of Appeal,� the statement added. It will be recalled that Honeywell had filed a suit seeking a declaratory order to the effect that Honeywell is no longer indebted to Ecobank. In its application before the Federal High Court, Honeywell had averred that its payment of the sum of N3.5 billion was full and final settlement of its obligations to the bank; a position which was affirmed in an earlier ruling by the Bankers’ Committee which sought to resolve the matter initially. But when contacted, a source at Ecobank who pleaded to remain anonymous, faulted the statement, saying “the Supreme Court ruled that the case go back to the high Court. “That is the summary. That means there is no winner as claimed by the other part.�

CBN Injects Fresh $210 Million into Forex Market The Central Bank of Nigeria (CBN) yesterday injected the sum of $210 million into the interbank foreign exchange (forex) market. The Bank offered $100million to authorised dealers in the wholesale segment of the market, while the SMEs segment got the sum of $55 million, just as $55 million was also allocated for invisibles such as tuition fees, medical payments and Basic Travel allowance (BTA).

In a statement, the Bank’s Acting Director of Corporate Communications Department, Mr. Isaac Okorafor confirmed the figures and restated the central bank’s resolve to continue to intervene in the interbank foreign exchange market, in line with its pledge to sustain liquidity in the market and maintain stability. Okorafor maintained that the continued forex intervention is to ensure that the Bank meets

genuine customers’ requests in various segments of the market. The CBN had last Tuesday, July 10, 2018, also intervened to the tune of $210 million, to cater for requests in the wholesale segment of the market. Meanwhile, the naira continued to exchange at an average of N360/$1 in the Bureau De Change (BDC) segment of the market yesterday.

L-R: General Manager/Chief Compliance Officer, Heritage Bank Plc, Wumi Adeniyi; Past President, Chartered Institute of Bankers of Nigeria, Dr. Segun Aina and Divisional Head, Corporate Communications, Heritage Bank, Fela Ibidapo, at the 2018 Lagos Bankers and Stakeholders’ Night in Lagos‌recently

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

MARCH 2018 Broad Money (M2)

24,303,049.86

-- Narrow Money (M1)

10,912,604.10

---- Currency Outside Banks

1,668,378.21

---- Demand Deposits

9,244,225.90

-- Quasi Money

13,390,445.76

Net Foreign Assets (NFA)

15,619,134.18

Net Domestic Assets(NDA)

8,683,915.68

-- Net Domestic Credit (NDC)

26,267,136.53

---- Credit to Government (Net)

3,823,345.45

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

5,433,209.43

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

-1,609,863.98

---- Credit to Private Sector (CPS)

22,443,791.08

--Other Assets Net

-17,583,220.85

Reserve Money (Base Money)

6,746,646.49

--Currency in Circulation

1,668,378.21

--Banks Reserves

4,357,551.58 Ëž Ă™Ă&#x;ĂœĂ?Ă? Ě‹

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

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

OPEC DAILY BASKET PRICE AS AT MONDAY JULY 16, 2018

The price of OPEC basket of ďŹ fteen crudes stood at $71.90 a barrel on Monday, compared with $72.15 the previous Friday, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), 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

39

T H I S D AY Ëž Ëœ ÍŻÍśËœ Í°ÍŽÍŻÍś

MARKET NEWS

All-Share Index Falls to New Low of 36,963.70 as Market Remains Bearish Goddy Egene The Nigerian Stock Exchange (NSE) All-Share Index (ASI) yesterday hit a new low, falling below the 37,000 threshold to close at 36,963.70, as stocks maintained downward trend. The bear run pulled the NSE ASI by 0.81 per cent while market capitalisation dipped by N109.8 billion to close at N13.4 trillion, following price losses by 33 stocks. As a result

of the continued bear run the year-to-date (YtD) decline is now 3.33 per cent. Although heavy weights such as Zenith Bank Plc, GTBank Plc, Lafarge Africa Plc, United Bank Africa Plc were among the price losers, Capital Oil Plc led the advancers’ and Julius Berger Nigeria Plc with 10 per cent apiece. Glaxosmithkline Consumer Nigeria Plc and PZ Cussons Nigeria Plc shed 9.9 per

P R I C E S MAIN BOARD

F O R

DEALS

cent each and Consolidated Hallmark Insurance Plc went down by 9.6 per cent. Other top price losers included:MCNichols Plc (9.5 per cent); Oando Plc (9.4 per cent); Tantalizer Plc, Lafarge Africa Plc (8.0 per cent each); Stanbic IBTC Holdings Plc , Okomu Oil Palm Plc (7.6 per cent apiece); International Breweries Plc (7.4 per cent) and Fidelity Bank Plc (5.1 per cent). On the positive side, Sovereign Trust Insurance

S E C U R I T I E S

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

Plc led the price gainers with 8.0 per cent, trailed by Wema Bank Plc with 7.9 per cent. Japaul Oil and Maritime Services Plc and Mutual Benefits Assurance Plc chalked up 5.8 per cent. Other top price gainers were: Continental Reinsurance Plc, Custodian Investment Plc (3.4 per cent each); Dangote Sugar Refinery Plc(2.5 per cent) and Eterna Plc (1.5 per cent). Market analysts said the continued sell-offs call for cau-

T R A D E D MAIN BOARD

A S

tious trading among investors, amidst absence of a near-term one-off positive catalyst in the short to medium term. Meanwhile, activity level was mixed as volume traded fell 32.9 per cent to 203.6 million shares while value traded rose 17.1 per cent to N2.4 billion. The top traded stocks by volume were: Transcorp Plc (20.7 million shares), Access Bank (19.5 million shares) and Zenith Bank Plc (15.4 million shares) while the top traded

O F

stocks by value were: GTBank (N434.4 million), Zenith Bank (N368.7 million) and Nigerian Breweries Plc (N336.9 million). Four of the sectors tracked closed in red led by the NSE Industrial Goods Index that shed 2.4 per cent, followed by NSE Oil & Gas Index that fell by 1.3 per cent. The NSE Consumer Goods Index and NSE Banking Index depreciated by 1.2 per cent and 0.9 per cent in that order.

1 7 / 0 7 / 2 0 1 8 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

WEDNESDAY, ͯͶ˜ ͺ͸͹Ͷ ˾ T H I S D AY

40

Nigeria Daily Stock Market Report: Wednesday, July 18, 2018

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

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

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

THISDAY AFRINVEST 40 1,524.63

-1.35% -1.5%

-1.2%

52.5%

ROE

ROA

P/E

P/BV

19.3%

7.0%

7.1x

0.8x

Guaranty Trust Bank PLC

20.7%

-3.1%

-3.8%

32.6%

5.2%

6.3x

2.2x

6.8%

15.8%

Zenith Bank PLC

23.80

-0.6%

12.2%

-6.6%

-8.2%

26.3%

3.6%

4.0x

1.0x

11.3%

25.1%

3

Nigerian Brew eries PLC

3.7%

108.50

-1.4%

7.3%

-18.5%

-19.7%

17.4%

27.2x

4.6x

3.8%

1,527.00

0.0%

8.0%

-1.9%

-1.9%

73.3%

18.9%

35.6x

22.6x

2.9%

2.8%

230.00

1.3%

6.3%

0.0%

0.0%

22.7%

12.0%

19.9x

4.6x

4.6%

5.0%

FBN Holdings Plc

10.25

-1.4%

6.5%

16.5%

16.6%

6.7%

0.8%

7.4x

0.6x

2.4%

13.5%

Access Bank PLC

9.95

-1.5%

4.3%

-3.8%

-6.1%

12.7%

1.5%

4.9x

0.6x

6.5%

20.4%

United Bank for Africa PLC

9.85

-1.0%

4.2%

-4.4%

-5.4%

15.9%

1.9%

4.4x

0.7x

8.6%

Ecobank Transnational Inc

21.00

1.2%

4.1%

23.5%

29.1%

12.9%

1.0%

7.0x

0.9x

650.00

0.0%

3.2%

3.8%

3.8%

22.3%

13.2%

3.3x

0.7x

2.8%

30.0%

Stanbic IBTC Holdings PLC

47.55

-7.7%

3.4%

24.1%

16.3%

30.8%

4.1%

9.0x

2.5x

1.1%

11.1%

12

Unilever Nigeria PLC

51.85

0.0%

3.3%

26.5%

28.9%

19.2%

8.0%

27.7x

3.8x

1.0%

3.6%

13

Guinness Nigeria PLC

97.00

0.0%

2.4%

3.2%

3.2%

15.4%

6.1%

18.5x

2.5x

0.7%

5.4%

14

Lafarge Africa PLC

34.50

-8.0%

1.3%

-23.1%

-23.1%

-36.8%

-7.7%

1.9x

4.3%

-17.9%

5.5%

4

Nestle Nigeria PLC

5

Dangote Cement PLC

SEPLAT Petroleum Development C

15

Fidelity Bank PLC

2.00

-2.4%

1.0%

-20.3%

-22.5%

10.4%

1.4%

1.6x

0.3x

Oando PLC

5.25

-9.5%

1.2%

-12.4%

-12.4%

10.3%

1.5%

6.5x

0.4x

17

Dangote Sugar Refinery PLC

17.95

2.6%

1.0%

-10.3%

-11.8%

45.0%

20.0%

5.3x

2.0x

14.0%

18.7%

-7.6%

3.5%

11.8%

3.3%

15.2% 15.3%

Okomu Oil Palm PLC

1.4%

25.6%

25.6%

39.7%

29.4%

8.5x

2.9x

19

International Brew eries PLC

37.50

-7.4%

0.5%

-25.7%

-31.8%

24.6%

7.4%

39.3x

8.9x

20

Flour Mills of Nigeria PLC

30.00

0.3%

0.7%

3.4%

3.4%

10.4%

2.8%

6.6x

0.8x

dŚĞ ďĞĂƌŝƐŚ ƉĞƌĨŽƌŵĂŶĐĞ ŽĨ ƚŚĞ ůŽĐĂů ďŽƵƌƐĞ ĮůƚĞƌĞĚ ŝŶƚŽ ƚŚĞ ƐĞĐŽŶĚ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶ ŽĨ ƚŚĞ ǁĞĞŬ ĂƐ E^ ůů ^ŚĂƌĞ /ŶĚĞdž ; ^/Ϳ ĨĞůů Ϭ͘ϴй ƚŽ ƐĞƩůĞ Ăƚ ϯϲ͕ϵϲϯ͘ϳϬ ƉŽŝŶƚƐ ǁŚŝůĞ zd ůŽƐƐ ǁŽƌƐĞŶĞĚ ƚŽ ϯ͘ϯй͘ zĞƐƚĞƌĚĂLJ͛Ɛ ŶĞŐĂƟǀĞ ƉĞƌĨŽƌŵĂŶĐĞ ŝƐ ƚƌĂĐĞĂďůĞ ƚŽ ůŽƐƐĞƐ ŝŶ ^d E / ;Ͳϳ͘ϳйͿ͕ /Ed Z t ;Ͳϳ͘ϰйͿ ĂŶĚ 'h Z Edz ;Ͳϭ͘ϱйͿ͘ ĐĐŽƌĚŝŶŐůLJ͕ ŝŶǀĞƐƚŽƌƐ ůŽƐƚ EϭϬϵ͘ϴďŶ ĂƐ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝnjĂƟŽŶ ĚƌŽƉƉĞĚ ƚŽ Eϭϯ͘ϰƚŶ͘ EŽŶĞƚŚĞůĞƐƐ͕ ĂĐƟǀŝƚLJ ůĞǀĞů ǁĂƐ ŵŝdžĞĚ ĂƐ ǀŽůƵŵĞ ƚƌĂĚĞĚ ǁĂŶĞĚ ϯϮ͘ϵй ƚŽ ϮϬϯ͘ϲŵ ƵŶŝƚƐ ǁŚŝůĞ ǀĂůƵĞ ƚƌĂĚĞĚ ƌŽƐĞ ϭϳ͘ϭй ƚŽ EϮ͘ϰďŶ͘ dŚĞ ƚŽƉ ƚƌĂĚĞĚ ƐƚŽĐŬƐ ďLJ ǀŽůƵŵĞ ǁĞƌĞ dZ E^ KZW ;ϮϬ͘ϳŵͿ͕ ^^ ;ϭϵ͘ϱŵͿ ĂŶĚ E/d, ;ϭϱ͘ϰŵͿ ǁŚŝůĞ 'h Z Edz ;Eϰϯϰ͘ϰŵͿ͕ E/d, ;Eϯϲϴ͘ϳŵͿ ĂŶĚ E/' Z/ E Z t Z/ ^ ;Eϯϯϲ͘ϵŵͿ ǁĞƌĞ ƚŚĞ ƚŽƉ ƚƌĂĚĞĚ ƐƚŽĐŬƐ ďLJ ǀĂůƵĞ

21

Transnational Corp of Nigeria

/ŶǀĞƐƚŽƌ /ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ ĂƐ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ ;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ ƐƚƌĞŶŐƚŚĞŶĞĚ ƚŽ Ϭ͘ϰdž ĨƌŽŵ Ϭ͘ϯdž ƌĞĐŽƌĚĞĚ ŝŶ ƚŚĞ ƉƌĞĐĞĚŝŶŐ ƐĞƐƐŝŽŶ ĂƐ ϭϰ ƐƚŽĐŬƐ ĂĚǀĂŶĐĞĚ ĐŽŵƉĂƌĞĚ ƚŽ ϯϯ ƚŚĂƚ ĚĞĐůŝŶĞĚ͘ dŚĞ ƚŽƉ ƉĞƌĨŽƌŵŝŶŐ ƐƚŽĐŬƐ ǁĞƌĞ ^KsZ E/E^ ;нϴ͘ϬйͿ͕ t D ;нϳ͘ϵйͿ ĂŶĚ : W h>K/> ;нϲ͘ϱйͿ ǁŚŝůĞ WK/> ;ͲϭϬ͘ϬйͿ͕ : Z' Z ;ͲϭϬ͘ϬйͿ ĂŶĚ '> yK^D/d, ;ͲϭϬ͘ϬйͿ ǁĞƌĞ ƚŚĞ ǁŽƌƐƚ ƉĞƌĨŽƌŵĞƌƐ͘ ĞƐƉŝƚĞ LJĞƐƚĞƌĚĂLJ͛Ɛ ůŽƐƐ͕ ŝŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ ŝŵƉƌŽǀĞĚ ƐůŝŐŚƚůLJ͕ ĂůďĞŝƚ ƐƟůů ƐŽŌ͘ ,ĞŶĐĞ͕ ǁĞ ĞŶǀŝƐĂŐĞ ƚŚĂƚ ƚŚĞ ƐĞůů ŽīƐ ǁŝůů ďĞ ĐŽŶƟŶƵĞĚ ŝŶ ƚŽĚĂLJΖƐ ƐĞƐƐŝŽŶ͕ ďƵƚ ǁĞ ĚŽ ŶŽƚ ƌƵůĞ ŽƵƚ ƚŚĞ ƉŽƐƐŝďŝůŝƚLJ ŽĨ Ă ƌĞďŽƵŶĚ ďĞĨŽƌĞ ƚŚĞ ĞŶĚ ŽĨ ƚŚĞ ǁĞĞŬ͘ ͘

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

23.0% 14.3%

16

18

/ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ ^ƚƌĞŶŐƚŚĞŶƐ

11.2%

1

^ƵƐƚĂŝŶĞĚ ^ĞůůͲŽīƐ ƌĂŐ DĂƌŬĞƚ zd >ŽƐƐ ƚŽ ϲͲtĞĞŬƐ >Žǁ͙ E^ ^/ ĚŽǁŶ Ϭ͘ϴй

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5.6%

2

85.00

ĞĂƌŝƐŚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ

Divinden Earnings d Yield Yield

39.00

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Current Price

Ticker

63.6% 15.3%

2.5%

1.27

0.8%

0.5%

-13.0%

-14.2%

12.9%

2.8%

6.5x

0.8x

1.6%

0.0%

0.5%

-17.2%

-17.2%

1.5%

0.6%

22.8x

0.6x

4.6%

0.4%

-20.0%

-23.6%

-5.8%

-0.7%

-13.0%

-13.0%

25.0%

5.3%

9.7x

2.3x

8.5%

31.6%

5.8%

0.9%

4.0x

0.2x

4.8%

25.2%

6.5x

2.2x

4.4%

15.5%

3.2%

6.9%

22

UAC of Nigeria PLC

14.00

23

Diamond Bank PLC

1.20

-9.1%

200.00

0.0%

0.5%

2.08

0.0%

0.7%

180.00

-0.3%

0.5%

-7.5%

-7.5%

38.8%

15.7%

0.1x

4.4% -61.0%

24

Total Nigeria PLC

25

FCMB Group Plc

10.3%

26

11 PLC

27

Forte Oil PLC

27.00

0.0%

0.3%

-37.9%

-35.7%

17.6%

1.6%

14.6x

2.3x

28

PZ Cussons Nigeria PLC

15.40

-9.9%

0.3%

-25.2%

-27.2%

10.7%

5.0%

14.6x

1.5x

29

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%

30

Presco PLC

73.50

0.0%

0.4%

7.3%

7.3%

35.8%

24.8%

3.1x

0.9x

2.7%

32.8%

31

NASCON Allied Industries PLC

20.00

-1.2%

0.4%

9.5%

4.1%

52.3%

19.7%

9.4x

4.2x

7.5%

10.6%

32

UPDC Real Estate Investment Tr

9.00

0.0%

0.3%

-10.0%

-10.0%

0.8x

8.4%

6.9%

33

Union Bank of Nigeria PLC

5.70

0.0%

0.3%

-26.9%

-24.1%

5.3%

1.1%

8.2x

0.6x

34

Julius Berger Nigeria PLC

24.30

-9.2%

0.3%

-13.2%

-13.2%

17.3%

1.8%

6.7x

1.1x

4.1%

14.9%

35

Sterling Bank PLC

1.44

0.7%

0.3%

33.3%

27.4%

10.7%

1.0%

4.3x

0.4x

1.4%

23.2%

9.30

-2.6%

12.2%

36

Dangote Flour Mills Plc

0.2%

-20.2%

-23.5%

1.2x

2.1%

37

GlaxoSmithKline Consumer Niger

16.70

-10.0%

0.2%

-22.7%

-22.7%

4.4%

2.8%

26.4x

1.1x

44.9%

38

Chemical and Allied Products P

34.50

1.5%

0.2%

0.0%

-3.4%

66.2%

30.2%

16.1x

10.8x

5.9%

6.2%

39

Beta Glass PLC

81.00

0.0%

0.2%

57.9%

57.9%

17.7%

11.5%

9.8x

1.6x

1.3%

10.2%

40

Transcorp Hotels Plc

7.45

0.0%

0.1%

3.3%

3.3%

5.3%

2.9%

19.5x

1.0x

1.8%

5.1%

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

T o p 10

P ric e

P ric e C hg %

0.27

8.0%

T ra de s

T ic k er

SOVR EN IN S WEM A B A N K

0.68

J A P A ULOIL

Vo lum e

P ric e C hg %

T R A N SC OR P

20.7

0.8%

A C C ESS

1 9.5

-1 .5%

Z EN IT H B A N K

1 5.4

-0.6%

SOVR EN IN S

1 3.3

8.0%

C UST OD IA N

1 2.7

3.4%

GUA R A N T Y

1 1 .0

-1 .1 %

1 0.3

0.0%

6.5%

M B EN EF IT

0.36

5.9%

C UST OD IA N

5.70

3.4%

C ON T IN SUR E

1.50

3.4%

D A N GSUGA R

17.95

2.6%

M ULT IVER SE

D A N GC EM T R A N SC OR P

6.50

1.6%

FB NH

8.3

-1 .4%

230.00

1.3%

OA N D O

8.3

-9.5%

1.27

0.8%

D IA M ON D B N K

7.0

-2.3%

T o p 10 L o s e r s T ic k er C A P OIL

by V o lum e

7.9%

0.33

ET ER N A

T o p 10

P ric e

P ric e C hg %

0.27

-10.0%

T ra de s

by V a lue

T ic k er

Value

GUA R A N T Y

434.4

P ric e C hg % -1 .1 %

Z EN IT H B A N K

368.7

-0.6%

NB

336.9

-1 .4%

A C C ESS

1 95.4

-1 .5% -7.6%

J B ER GER

24.30

-10.0%

GLA XOSM IT H

16.70

-10.0%

PZ

15.40

-9.9%

H M A R KIN S

0.28

-9.7%

OKOM UOIL

1 56.0

M C N IC H OLS

0.66

-9.6%

D A N GC EM

1 09.4

1 .3%

OA N D O

5.25

-9.5%

FB NH

85.1

-1 .4%

UN ION D A C

0.29

-9.4%

C UST OD IA N

69.4

3.4%

T A N T A LIZ ER

0.23

-8.0%

N EST LE

61 .7

0.0%

34.50

-8.0%

UB A

58.5

-1 .0%

WA P C O

3.8%

Investment Research

Brokerage Ayodeji Ebo | aebo@afrinvest.com

Robert Omotunde | romotunde@afrinvest.com

Bolaji Fajenyo | bfajenyo@afrinvest.com

Eronmosele Aziba | eaziba@afrinvest.com

41

˾ WEDNESDAY, JULY 18, 2018

MARKET NEWS

IST Updates Judges, Lawyers, Stakeholders on Capital Market Jurisprudence Bassey Inyang in Calabar The Investment and Securities Tribunal (IST) have commenced moves to update the knowledge of the judiciary and members of the legal profession and other stakeholders in the capital market from Cross River and Akwa Ibom States with information on the tribunal and Jurisprudence of investments and securities laws, practice and procedure. At a three-day workshop, which commenced in Calabar on Monday for the judicial

officers , lawyers and capital market stakeholders, the Chairman of IST, Isaiah Idoko-Akoh, said the workshop is aimed at familiarising the participants with emerging trends in capital market jurisprudence and the operations of the IST. “It seeks to expose capital market adjudication as a robust and emerging jurisprudence in the country; to bring to the attention of judges and legal practitioners the existence of the special jurisdiction of the tribunal;

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

to kindle the interest of the public to take opportunities to invest and enjoy the protections available for investors in the capital market; and draw attention of educators , mentors , parents and young graduates to seek training/employment and develop career in the capital market industry among others,” he said. Idoko-Akoh said Cross River and Akwa Ibom cannot to remain in the fringes as players in the nation’s capital market industry which is

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 16-July-2018, unless otherwise stated.

considered as the engine room of any modern society. The chairman said the initiative was novel and designed to play a vital role in the national economy and justice administration. According to him, it was imperative to continue to apprise relevant stakeholders with useful information of the objectives, jurisprudence, practice and procedure of the higher court. The chairman said that it was important to stage the workshop in order to map out

strategies towards realising the mandates spelt for the IST. He said the workshop would expose capital market adjudication as a robust and emerging jurisprudence, bring to the knowledge of judges and legal practitioners the existence of specialised laws guarding capital market operations as well as kindle interest of the public to take opportunities to invest and enjoy lawful protection. The Chief Judge of Cross River State and the Chief Judge of Akwa Ibom State

were among the participants that addressed the workshop while the Deputy Governor of Cross River, Professor Ivara Esu, declared the workshop open. Several topics were presented by experts such as “Understanding the Nigerian Capital Market” by Emeka Madubuike, a stockbroker. Another paper was “Investing in the Nigerian Capital Market” by Mr. Dave Enejoh a Fellow of Institute of Chartered Accountants of Nigeria.

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 184.74 184.85 3.78% Nigeria International Debt Fund 245.32 245.42 6.06% 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 2.01% ACAP Income Funds 0.64 0.64 6.84% 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 147.93 148.97 -2.48% AXA Mansard Money Market Fund 1.00 1.00 12.29% 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 10.54% Paramount Equity Fund 11.91 12.21 7.39% Women's Investment Fund 104.52 107.20 3.87% 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 12.53% 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 12.03% Coronation Balanced Fund 1.16 1.19 11.09% 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 1,164.23 1,164.94 7.70% FBN Heritage Fund 146.01 147.17 4.63% FBN Money Market Fund 100.00 100.00 11.86% FBN Nigeria Eurobond (USD) Fund - Institutional 113.21 113.63 2.72% FBN Nigeria Eurobond (USD) Fund - Retail 113.02 113.43 2.65% FBN Nigeria Smart Beta Equity Fund 169.94 172.40 5.95% 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 7.00% 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 3,119.35 3,153.11 4.51% Coral Income Fund 2,657.91 2,657.91 8.60% 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 12.31% Nigeria Entertainment Fund 103.14 104.46 3.33% 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 12.33% Vantage Balanced Fund 2.16 2.18 2.27% Vantage Guaranteed Income Fund 1.00 1.00 14.23% Kedari Investment Fund (KIF) 121.01 121.35 5.20%

LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.19 1.21 3.81% Lotus Halal Fixed Income Fund 1,083.94 1,083.94 7.44% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund N/A N/A N/A Meristem Money Market Fund N/A N/A N/A PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.33 1.35 11.77% 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 2,374.17 2,393.97 5.85% Stanbic IBTC Bond Fund 187.32 187.32 6.16% Stanbic IBTC Ethical Fund 1.03 1.05 2.97% Stanbic IBTC Guaranteed Investment Fund 240.92 240.97 9.40% Stanbic IBTC Iman Fund 181.84 183.92 1.54% Stanbic IBTC Money Market Fund 100.00 100.00 12.24% Stanbic IBTC Nigerian Equity Fund 9,704.07 9,836.09 0.35% Stanbic IBTC Dollar Fund (USD) 1.10 1.10 3.97% 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 N/A N/A N/A United Capital Bond Fund N/A N/A N/A United Capital Equity Fund N/A N/A N/A United Capital Money Market Fund N/A N/A N/A United Capital Eurobond Fund N/A N/A N/A United Capital Wealth for Women Fund N/A N/A N/A 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 12.95 13.16 3.61% Zenith Ethical Fund 13.64 13.79 3.58% Zenith Income Fund 20.54 20.54 8.56% 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

11.97 146.63 109.31

12.07 149.62 111.30

-0.83% 2.62% 0.03%

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

4.61 8.86 17.47 19.14 145.02

4.65 8.94 17.57 19.34 147.02

-2.80% -7.36% -0.20% -2.69% 5.98%

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

42

T H I S D AY ˾ ͯͶ˜ ͰͮͯͶ

T H I S D AY ˾ WEDNESDAY JULY 18, 2018

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T H I S D AY ˾ WEDNESDAY JULY 18, 2018

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T H I S D AY ˾ WEDNESDAY JULY 18, 2018

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Ëœ ͚΀˜ ͺ͸͚͜ Ëž T H I S D AY

FOREIGN/DIPLOMATIC AFFAIRS

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

In Brief Theresa May Narrowly Avoids Defeat in Parliament British Prime Minister Theresa May narrowly avoided a defeat in parliament at the hands of pro-EU lawmakers from her own party on Tuesday, fending off a rebellion that had threatened to deepen a crisis over her Brexit strategy, according to Reuters. Parliament voted 307 to 301 against an amendment to trade legislation in a vote that had been closely followed by currency markets, and was seen as a test of May’s ability to deliver a British exit from the European Union and keep her job. The amendment would have required the government to try to negotiate a customs union arrangement with the EU if, by Jan. 21, 2019, it had failed to negotiate a frictionless free trade deal with the bloc. Sterling GBP=D3 rebounded from the day’s lows against the dollar after the government sidestepped defeat on the amendment.

Jury Convicts ex-New York State Senate Leader over Bribes

US President Barack Obama addressing the crowd during a memorial service for Nelson Mandela at FNB Stadium in Johannesburg, South Africa, December 10, 2013. Photo credit: REUTERS

Blame Politicians, Not Mandela, for South Africa’s UnďŹ nished Business Former US President Barack Obama delivered the Nelson Mandela Annual lecture in South Africa’s main city, Johannesburg, yesterday as the country prepared to mark the centenary of the struggle icon and South Africa’s first black and first post-Apartheid president’s birth. The speech by Obama, America’s first black president, focused on “creating conditions for bridging divides, working across ideological lines, and resisting oppression and inequality.â€? Matthew Graham explains why the legacy of Mandela, who died in 2013 aged 95, endures – and why criticism of the compromises he made ahead of the first democratic elections in 1994 are misplaced.

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uly 2018 marks Nelson Mandela’s centenary year. Why is he still so revered across the world? The answer simply is that he is widely regarded as the personification of values, which he spent much of his life fighting for. These included social justice, democracy, and freedom. At the Rivonia Trial in 1964, he asserted that it was these values for which he hoped to live, but for which he was “prepared to die�. He would spend 27 years in prison before he could realise his dream of a South Africa freed from repressive and brutal racial segregation. In prison, Mandela’s stature and mythology was carefully nurtured by his movement, the African National Congress (ANC), and the anti-apartheid movement. This established him as the focus for the global struggle against apartheid. By the 1980s, Mandela was the world’s most famous political prisoner. He was celebrated at rallies, featured on protest posters, and immortalised in popular culture. Mandela’s conviction and adherence to nonracialism and democratic ideals came to symbolise the intrinsic moral nature of the struggle against white minority rule. In the world’s current international climate of conflict and political cynicism, Mandela’s legacy continues to serve as a rare example of a principled

politician who represented an indefatigable commitment to forgiveness and reconciliation. Mandela commanded respect and moral authority at home and abroad for his strong convictions, humility, and courageous actions that ensured all South Africans could live in a democratic society. These achievements in the face of enormous challenges should not be underestimated. As South Africa’s first democratic president, there was a clear emphasis on transformation for the majority. This came about through political action under the slogan “a better life for all�, the introduction of a progressive and liberal constitution, stabilising the economy, and enshrining the ideals of democracy by stepping down from the presidency after one term in office. Yet, there is mounting disquiet and frustration about the slow pace of South Africa’s transformation in the democratic era. This is characterised by stubborn economic inequality, growing unemployment, missed opportunities and the failure to establish the form of “new� society articulated by Mandela. What would have seemed unthinkable a few years ago is a growing and vocal criticism of Mandela’s legacy. The primary target of this frustration is the compromises and reconciliation efforts of the early 1990s, which so endeared Mandela to the world. But for many South Africans, the outcomes were too accommodating to the white minority. Is the mounting criticism of Mandela fair? I would argue not. South Africa currently faces many challenges, but it isn’t Mandela who failed people’s expectations. The blame for that must be put squarely at the door of the country’s politicians. Is Criticism of Mandela Fair? First of all, it’s deeply unfair and highly problematic to prescribe South Africa’s current travails on one person. Part of this problem stems from the perception that Mandela single-handedly delivered freedom for South Africa and led the negotiation process. This is simply not true. And the “single story� is a disservice to the multitude of organisations and activists

that fought apartheid, including the ANC, the Black Consciousness Movement, trade unions, and the United Democratic Front. In addition it was the collective leadership of the ANC, not Mandela alone, that negotiated with the National Party during the transition process to seek a political compromise. The ANC should certainly have pushed for more concessions. In reality, the party effectively sacrificed wider economic and social change for political power. It is the lack of substantive change enacted during the transition that has prompted the emerging re-evaluation of Mandela’s legacy. To argue that Mandela “sold out� through these compromises is a misreading of the situation and fundamentally ignores the challenges and constraints of the period. These included: escalating violence across the country; the ANC negotiating from a position of structural weakness; the National Party remaining undefeated; the impossibility of overthrowing the apartheid regime by force; and a fundamentally altered post-Cold War political and economic environment. Most important of all, 1994 was not supposed to be the final stage for transformation. Rather, it was a platform for future efforts. But the ANC has not succeeded in doing enough to initiate wider-societal transformation since 1994 based on the unfinished business of the negotiations. ANC Failures The party’s inability to implement sustained policy changes for the benefit of the majority is evident from a number of on-going political debates. These include anger about unemployment, land expropriation without compensation, and corruption. In addition, the ANC appears to have lost its sense of direction. The political elite have been badly mired by scandals, most notably under the former presidency of Jacob Zuma. There is no doubt Mandela was a complex and flawed individual, but his vision still matters. What is required in this centenary year is for people from all sections of society to work together to embody Mandela’s values and convictions to keep the country moving forward to overcome the deeply ingrained legacies and injustices of the past. r(SBIBN JT B MFDUVSFS JO )JTUPSZ 6OJWFSTJUZ PG %VOEFF 6OJUFE ,JOHEPN

Former New York State Senate majority leader Dean Skelos was found guilty of soliciting bribes and other federal corruption charges by a jury on Tuesday, nearly a year after an appeals court threw out an earlier conviction, Reuters reported. The federal jury in Manhattan also convicted Skelos’ son, Adam. Both men were found guilty of all the charges they faced, which in addition to soliciting bribes included extortion and conspiracy to commit honest services fraud. Lawyers for the two men declined to comment after the verdict was announced. U.S. District Judge Kimba Wood, who presided over the trial, scheduled sentencing for Oct. 24. Prosecutors accused the elder Skelos, a Republican from Long Island, of using his position to pressure three companies to provide his son with consulting work, a “noshow� job and a $20,000 payment.

Israel Turns Away Displaced Syrians along Golan Heights Scores of displaced Syrians were turned away by the Israeli army units on Tuesday as they attempted to approach the border fence along the Israeli-occupied Golan Heights, according to Al Jazeera. The incident on Tuesday happened in Quneitra, where the Syrian government is fighting to push out the last remaining pockets of rebels and fighters belonging to the Islamic State of Iraq and the Levant (ISIL, also known as ISIS). The displaced Syrians stopped some 200 metres away from the fence, before an Israeli soldier told them to leave.

US, EU, China Accused of Entrenching Authoritarianism The United States, the European Union, and China are equipping, training and funding countries around the world, including autocratic governments, with surveillance capabilities, a new report has said, warning that this leads to entrenchment of authoritarianism and abuse against citizens. The Teach ‘em how to phish study was released on Tuesday by Privacy International, a UK-based watchdog. It highlights how and why Washington, Brussels and Beijing are spending billions of dollars on foreign security aid with the aim of equipping countries with the latest surveillance technologies and training. “The export of these surveillance capabilities, sometimes to places which lack basic rule of law, therefore carries significant and foreseeable risks to the security and rights of individuals,� the report concludes, according to Al Jazeera. It details several ways of how surveillance practices are being funded, including the installation of surveillance technologies and the providing of intelligence training for state personnel.

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Oil Companies Shut down Fields for 180 Days Annually Chineme Okafor A former Director of the Department of Petroleum Resources (DPR) and Lead Consultant to the National Assembly on the Petroleum Industry Bill (PIB), Mr. Osten Olorunsola has disclosed that oil and gas companies operating in the country shut down producing fields for up to 180 days yearly as a result of the operational challenges in the Niger Delta. Speaking yesterday at a roundtable meeting on the PIB organised by the Nigeria Natural Resource Charter (NNRC) and Media Initiative on Transparency in Extractive Industries (MITEI) in Abuja, Olorunsola, explained that Nigeria’s situation was unlike what was obtained in other oil producing destinations across the world. Olorunsola, who is a member of the Expert Advisory Panel (EAP) of the NNRC, stated in a presentation he made at the meeting that most oil producing countries record just about 30 and 45 days of production

downtime, and produce oil for an upward of about 330 days. This, he explained was not the case in Nigeria, where he noted that frequent pipeline breakages and uncertainties on security of assets were responsible for the lengthy operational downtime the country currently records. “You can imagine being in business and you can’t do anything for two years, and you have staff and you just pay them salaries for two years, you must be a generous Non-governmental organisation (NGO). “In terms of real operational shutdowns, we are seeing something between 80 and 160 days, which is not good,” Olorunsola said. He further explained: “There are operations around the world where productions days, you can almost guarantee 330 days, you can’t do all through the year because you have scheduled maintenance and all that, but usually it is not more than 30 and 45 days, anything more than that is not good.” He indicated that there was

a time the Trans Forcados oil pipeline was down for two years, shutting in production from oil fields. He also stated that in 2018 alone, some trunklines were shut down for up to 84 days, thus impeding oil production. He also spoke about the level of works done so far on the various bills created from the PIB, all of which include the Petroleum Industry Governance Bill (PIGB), Petroleum Industry Host Community Bill (PIHCB), Petroleum Industry Fiscal Bill

(PIFB) and Petroleum Industry Administration Bill (PIAB). On the PIGB, he explained the bill which is now reportedly with President Muhammadu Buhari, for assent on, has in it a philosophy that insists that holders of upstream oil block licences would either drill their oil blocks immediately or drop them for fresh awards. Olorunsola, also stated that the 1993 royalty concession given to operators in the country’s deepwater operations should not have been structured the

way it was structured. According to him, it should have been a suspended royalty structure and not the zero royalty that was granted to operators in deepwater oil operations. Further, he noted that the National Assembly has created a fifth bill from the PIB, to address issues of oil revenue management, but that the bill has been largely held back by the provisions of Nigeria’s constitution on revenue management.

“A lot of things around sharing money in our country is guided by the constitution. You can’t write any bill that will override the constitution and this is the issue. There are certain things we wanted to put in this bill, but there was the talk that we should go and cure that in the constitution and then come back. “Countries around the world have revenue management laws, and we just have to do it because it is the right thing to do,” he added.

Rivers Govt Seals NDDC Headquarters over N600m Tax Debt

Action unnecessary embarrassment, says commission Ernest Chinwo ÓØ ÙÜÞ ËÜÍÙßÜÞ Officials of the Rivers State Internal Revenue Service (RIRS) yesterday sealed off the headquarters of the Niger Delta Development Commission (NDDC) in Port Harcourt, the state capital, over N600 million tax debt. But speaking on behalf of the NDDC’s Managing Director, Dr. Nsima Ekere, his Special Assistant on Media, Chijioke Amu-Nnadi, said the action was an unnecessary embarrassment and a surprising development, “because the commission had already begun paying the revenue service the arrears under question.” Armed with an exparte order from the court, officials of the RIRS yesterday, stormed the commission and sealed up the premises. The leader of the enforcement team and a director in RIRS, Mr. Manson Endeboh, said the tax agency sealed the gates of the NDDC headquarters for allegedly owing the state government withholding tax.

While he conceded that the commission had made some payments, he said the payments came after the tax agency had approached the court for an exparte order to seal the office. But reacting to the incident, the NDDC expressed dismay over the disruption of activities at its headquarters in Port Harcourt. Amu-Nnadi said the commission had already begun paying the arrears under question. Amu-Nnadi explained: “About two weeks ago, the commission met with the tax enforcement team and started negotiations to resolve all outstanding issues. We understand that there is a court order. But it’s important for us to state that the Commission, as a responsible corporate organisation, had begun to attend to all obligations as agreed. “Last week, the commission paid the first tranche. They will receive the next tranche this week. This is a sign of goodwill and commitment on the side of the commission to meet these obligations.”

Ayade Wins Best Governor on Agriculture Sector Cross River State Governor, Professor Ben Ayade, has won BusinessDay Newspaper Award for the Best Performing Governor in agriculture sector. The newspaper said the award was in recognition ofAyade’s revolutionary strides in agriculture. Only recently, President Muhammadu Buhari was in Calabar, the Cross River state capital, to inaugurate Africa’s first and only Rice seeds and seedling factory. The factory is one of the governor’s signature agricultural projects.

At the inauguration, President Buhari commended the governor for keying into the economic diversification policy of his administration by investing heavily in agriculture, describing him as a reference point in agricultural revolution. Ayade who has often spoken of his determination to decouple Cross River State from over dependence on oil- driven federal allocation through diversification of the state’s economy, is also building an ultramodern rice mill in Ogoja and a 30,000 per annul cocoa processing plant in Ikom.

GREAT BOY

Philip Somtochukwu Uba, son of Senator Andy Uba, during his graduation from the Henley Business School, University of Reading, England where he bagged a First Class Bachelor’s degree in Management and Business...recently

Group Asks ICC to Tackle Buhari on Middle Belt Killing Tobi Soniyi ÓØ ËÑÙÝ The Nigerian Coalition for the International Criminal Court (NCICC) has called on the court prosecutor, Fatou Bensouda, to engage President Muhammadu Buhari on the continued killings in the North-central and Northeastern parts of the country. NCICC, in a statement, issued to commemorate the 20th anniversary of the Rome Statute of the International Criminal Court (Rome Statute), called on the prosecutor to press Buhari to ensure accountability for the

victims of the killings. The statement which was jointly signed by the Chair and the Vice Chair respectively, of NCICC, Edmund Chinonye Obiagwu and Dr. Abiola Akiode -Afolabi, read: “As President Buhari attends the event of the Rome Statute at 20, we urge the ICC Prosecutor, Fatou Bensouda, to engage the president on the continued killing in the North-central and North-east region and the non-accountability on the part of the state security. “Nigeria though a state

party of the International Criminal Court (ICC) has since the submission of its instrument of ratification on the September 27, 2001, failed to domesticate the Rome Statute into its national legislation in accordance with the provision of section 12 of the 1999 Constitution,” the group said. The NCICC called on the Nigerian Government to join in the fight against impunity and domesticate the Rome Statute, and further reiterates the need for the National Assembly to expedite the domestication of

the Rome Statute bill which comes up for public hearing on July 18, 2018. NCICC also joined the rest of the world in the commemoration of the 20th anniversary of the Rome Statute of the ICC (Rome Statute). The Rome Statute which is the founding treaty of the International Criminal Court vested the court with power to exercise jurisdiction over international crimes to wit genocides, crimes against humanity, war crime and crime of aggression.

Thugs Warn Melaye Not to Enter Kogi Melaye: I’ve informed the police Yekini Jimoh ÓØ ÙÕÙÔË Some unidentified political thugs have warned Senator Dino Melaye not to enter his home state, Kogi, threatening to attack him. In a swift reaction, Melaye said he had formerly informed the police command of his coming to the state to inaugurate his various projects in seven local government councils. The senator representing Kogi West senatorial district is expected to inaugurate the projects in all the seven local government councils of the state starting

from Wednesday to Friday this week. The political thugs, who made their intention known through an unsigned pamphlet distributed yesterday at the naming ceremony of the Lokoja administrator, Hon. Shiru Lawal, said Kogi State is no go area for the senator. The pamphlet read thus: “Dino don’t patronise Kogi State. “Stay away else you have yourself to blame. Save yourself and remain where you are. Keep off from our land. “Dino come and reap what you sowed. You don’t respect our leaders so we don’t respect

you. Respect is reciprocal! “Take what you get, and if you dare us, expect the worse, we have warned you.” Meanwhile, Melaye has said he formerly wrote the police and other security agents of his coming to the state for the inauguration of projects. He told THISDAY that he goal was to empower his immediate constituency by embarking on various projects. The lawmaker added that he would be in the state for the “meaningful projects across all the seven local government councils,” stressing that as

far he is concern, nobody can prevent him from visiting his state. However, when THISDAY called on the Public Relation Officer of the Kogi State Police Command, Mr. William Ayah, over the alleged threat, he said his command is aware of his coming but not that of the pamphlet distributed by unknown person or people. Ayah also added that nobody reported any such issue to the command, stating that if they have any privileged information on the matter, they will surely take action.

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Nigeria Has 12th Highest Number of Foreign Students in US, Says Envoy Vincent Obia United States Consul General F. John Bray disclosed yesterday in Lagos that Nigeria had the highest number of students from sub-Saharan Africa studying in the US and ranked 12th among the over one million foreign students in the country. Bray spoke at the Consulate General in Lagos during a pre-departure orientation for Nigerian students heading to US to study. He said 35,364 of the international students in the US were from sub-Saharan Africa. According to Bray, “There are currently 11,710 students from Nigeria studying in the United States. 49.5 per cent undergraduate; 36.2 per cent graduate students, 2 per cent

are non-degree candidates, and the remaining 12.3 per cent are on Optional Practical Training. “Compared to last year, this represents a 9.7 per cent increase. The number of Nigerians studying in the US has been going up for the past seven years.” He said students from Nigeria attended about 800 institutions in each of America’s 50 states. “The most popular state is Texas, with 1,540 students, while the most popular college/university is Houston Community College, with 220 students.” Bray said the US Department of State had granted scholarships to about 250 Nigerian students from the Lagos centre of its EducationUSA programme to study at institutions in

the US. He explained that EducationUSA was a US Department of State network of over 425 international student advising centres in more than 175 countries promoting higher education in America to students around the world by offering accurate, comprehensive, and current information about opportunities to study at any of the over 4,700 accredited post-secondary institutions in the US. “EducationUSA is your official source on US higher education,” the consular general stated. “To date, about 250 student-members of the Lagos EducationUSA Center studying at U.S. institutions in the fall of 2018, have received scholarships from US institutions totalling over $4 million.”

APC, PDP DENY CASH-FOR-VOTE ACCUSATION publication of this letter, failing which SERAP will institute legal proceedings to compel you and INEC to discharge your constitutional and statutory responsibilities in the public interest.” In the letter dated July 17, 2018 and signed by SERAP’s Executive Director, Adetokunbo

Mumuni, the organisation said it is the responsibility of INEC as an independent body to take meaningful steps and action to minimise electoral bribery by politicians, ensure political equality and prevent unfair electoral competition. Meanwhile, the Ekiti State House of Assembly has rejected

the result of the governorship election and adjourned till October 8, 2018. Speaking at the House plenary in Ado-Ekiti, the state capital, yesterday, the Leader of Business, Hon. Akinyele Olatunji, described the process leading to the election and the final result as unfortunate.

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Senate Confirms Smith as PSC Chairman Buhari nominates Banire as AMCON chair Ambode congratulates Smith Deji Elumoye Ă“Ă˜ ĂŒĂ&#x;ÔË The Senate yesterday confirmed the nomination of a former Inspector General of Police (IG), Mr. Musiliu Smith, as the Chairman of Police Service Commission, (PSC) Five other nominees were also confirmed by the Senate as full time Commissioners and members of the PSC. This was sequel to the consideration of the report of the Committee on Police Affairs presented by its Chairman, Senator Abu Ibrahim (Katsina South), for the nomination of Smith and six others as chairman and members of the PSC, in compliance with the provision of Sections 153(1) and 154(1) of the 1999 Constitution of the Federal Republic of Nigeria (as amended). Senator Ibrahim, after reading his committee’s report, moved the motion for the adoption of the report and was seconded by Senator Gilbert Nnaji (Enugu The confirmed members of the PSC include AIG Lawal Bawa(rtd), and Justice Clara Ogunbiyi (rtd), as full-time commissioners. Others are Dr.Nkemka Jombo-Ofo; Rommy Mom and Braimah Austin as ordinary

members. Also yesterday, the Senate President Bukola Saraki read two letters from President Muhammadu Buhari seeking the confirmation of the immediate past National Legal Adviser of the All Progressives Congress (APC), Muiz Banire, as Chairman of the Governing Board of the Assets Management Corporation of Nigeria (AMCON) and Dr. Bello Ingawa and 12 others as Chairman and Commissioners of Federal Civil Service Commission (FCSC). President Buhari in the letter nominating Banire, dated July 11, said he was nominating the former Lagos State transport commissioner in compliance with section 10(1) of the AMCON Act 2010 The other nominees for the FCSC, according to the letter, dated July 12, include: Moses Ngbale, Waziri Ngumo, Bello Babura, Ahmed Sama, Iyabo Odulate-Yusuf and Shehu Danyaya. Others are Fatai Olapade, Ejoh Chukwuemeka, Joe Poroma, Ibrahim Mohammed, Aminu Sheidu and Simon Etim. President Buhari said he was requesting for the confirmation of the chairman and the 12 commissioners for FCSC in compliance with the provision of Section 154(1)

of the Constitution of the Federal Republic of Nigeria (as amended). Lagos State Governor, Mr. Akinwunmi Ambode, yesterday congratulated Smith on his confirmation as the chairman of the PSC. Ambode, in a statement signed by his Chief Press Secretary, Mr.

Habib Aruna, described Smith’s confirmation by the Senate as a step in the right direction, adding that he would bring his wealth of experience to bear in reforming the Nigeria Police to be more effective, efficient and performance driven. “Let me seize this medium to congratulate Alhaji Musiliu

Smith on his recent appointment and confirmation by the Senate. This is a good step by President Buhari and I have no doubt in my mind that his appointment will provide the necessary leadership that will not only reposition the Police Force to provide top notch security for Nigerians but also sharpen its

image,� Ambode said. Smith, 74, is a retired IG of Police who retired from service in 2002, following a police strike. He was appointed a month ago by President Muhammadu Buhari and will take over from Mike Okiro, who is also a former IG of Police.

Dangote Retains Position as Africa’s Richest Man Amazon’s founder is richest man in history Nume Ekeghe The President of Dangote Group, Alhaji Aliko Dangote has retained his position as the Africa’s richest man with a $12.4 billion networth. Also, listed by Forbes is the Chairman of Conoil and Globacom, Chief Mike Adenuga, whose networth is $4.4 billion.

These figures were released on Forbes website yesterday. The report showed that despite losing $1.7 billion in few months, Dangote has remained a strong brand, retaining his position as Africa’s richest man. Adenuga was also said to have lost $1.1 billion within the period. According to Forbes, the

founder of Amazon.com Inc, Mr.Jeff Bezos is the richest man in modern history. Bezos’s fortunes jumped from $112billion in March this year to $151.4 billion as at yesterday. The Amazon.com Inc. founder’s net worth cracked $150 billion in New York on Monday, according to the Bloomberg Billionaires Index.

That’s about $55 billion more than Microsoft Corp. co-founder, Bill Gates, the world’s secondrichest person. Bezos, 54, also has topped Gates in inflation-adjusted terms. The $100 billion mark that Gates hit briefly in 1999 at the height of the dot-com boom would be worth about $149 billion in today.

Atiku Promises to Eliminate Boko Haram Insurgency Michael Olugbode, Ă“Ă˜ Ă‹Ă“ĂŽĂ&#x;Ă‘Ă&#x;ĂœĂ“ A former Vice President, Alhaji Atiku Abubakar, has said he would eliminate the Boko Haram insurgency shortly after his inauguration

as Nigeria’s number one citizen in 2019. Atiku who is one of the presidential aspirants on the platform of Peoples Democratic Party (PDP), made the vow while addressing his supporters at the Forshams

Hall, Maiduguri. “Nigeria ended it civil war in only two and half years despite the thick forest in the South east. I wonder why the war against insurgency took us nine years, there must be something wrong

somewhere,â€? he said. He added that “If elected, I will not allow any commander to tell me stories, we must end insurgency within the shortest possible time because the insurgency has crippled everything in the North-east.â€?Â

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Crash Cement Prices to Reduce Housing Deficits, FG Tells BUA, Dangote Jonathan Eze Ă“Ă˜ ÙÕÙÞÙ The federal government yesterday tasked the giant cement manufacturers-BUA Group and Dangote, to crash the price of cement further in a bid to reduce the housing deficit in the country, which currently stands at 17 million. The Vice President, Prof. Yemi Osinbajo, stated that Nigeria’s huge market size of high urbanisation rate of 3.5 per cent and a low per capital cement consumption of about 125 kilogrammes are key drivers for the growth of the Nigerian cement industry in the medium term.  Osinbajo disclosed this yesterday at the inauguration of BUA cement plant in Sokoto. According to him, currently,

Nigeria produces over 40 million tonnes of cement annually more than any other country in Africa. “Indeed, when put together, several other countries still cannot produce as much cement,� he said.  “We have plenty of capacity to consume cement locally. As mentioned earlier, two issues require urgent attention. The first is the price of cement, it surely can be cheaper. I know the standard arguments such as power, transportation and other challenges, but it is still a lucrative business and I know the reduction of price is possible between the major players.� “The second issue is concrete roads. We can change the narrative on road construction dramatically if we think through using concrete buildings in

Nigeria�, he added. Meanwhile, BUA Group has announced plans to commence exportation of cement with its recently inaugurated 1.5 million metric tonnes cement plant in Sokoto to neighbouring countries, while also meeting local demands for the commodity. With the inauguration of the Sokoto Plant and the completion of the expanded plant in Okpella, Edo State, the company’s installed capacity is expected to hit eight million metric tonnes by the end of 2018. The Chairman and Chief

Executive Officer of BUA Group, Abdul Samad Rabiu, stated that the plant holds a significant promise for the local markets and has huge export potential to earn foreign exchange for the country. Rabiu said: “In the event that we choose to export, the Forex savings and potential forex this could generate for the country is huge. We are in a prime position to actually deliver the entire demand here within the North-West – which is our catchment area, and also export; even though at BUA, we have

made it a policy to cater first to our home market before we export.� He added that the second line of its $1billion Obu Cement Complex in Okpella, Edo State inaugurated in August 2017 would be completed by the end of this year, stressing that BUA cement investment in Edo State remains the single largest private-led investment in the entire South-south region of Nigeria outside the oil and gas industry. According to him, “By the time that plant is completed by

the end of the year - together with what we have here, BUA Cement’s total production volumes will be in excess of 8 million tonnes and that would give us over 35 per cent of the entire volumes produced in Nigeria.� The Governor of Sokoto State, Aminu Waziri Tambuwal, urged investors to exploit opportunities in the state through the huge deposit of natural resources, adding that the state has developed a blue print on the ease of doing business to encourage investors and protect their investments.

Tinubu Commends Oshiomhole, Says Direct Primaries Will Deepen Internal Democracy Former Lagos State Governor and All Progressives Congress (APC) national stalwart, Bola Tinubu, has said the decision of the party’s National Working Committee (NWC) approving a direct primary for electing its candidate for Osun State governorship election would deepen internal democracy in the party. “When the history of this moment is written, those looking back on this decision will say that it was an inevitable natural consequence of party evolution,� he said. Tinubu was reacting to the decision by the party’s NWC to pick the governorship candidate of the party through direct primaries. The APC constitution provides for both direct and indirect primaries, but the direct option is more democratic and more participatory. In a statement by his Media Office, which signed by Tunde Rahman, Tinubu also commended the party’s National Chairman, Adams Oshiomhole, for leading the party toward greater democracy, which means increased participation of all party members in key decisions that affect them. The statement entitled “Internal Democracy: Improving the Nomination Process� reads: “From its inception, our party has held to principles of internal

democracy and, by the open and fair conduct of our conventions, we have distinguished ourselves from all other political parties. While we have achieved more than others with regard to internal democracy, there is still more to be done in order to perfect our internal procedures and mechanisms. “This consideration was a key factor in the election of Comrade Adams Oshiomhole as party chairman. Core to that mandate is the improvement of democracy within the party so that we may become even better representatives of the people. “The decision of the National Working Committee approving a direct primary to elect the party’s candidate for Osun election is a ground-breaking step toward achieving this fine objective. By this decision, the party affirms its democratic inclinations. When the history of this moment is written, those looking back on this decision will say that it was an inevitable natural consequence of party evolution. “However, I know differently. This decision took courage and conviction because it bucked the old ways in order to bring about something better and new. Comrade Oshiomhole deserves commendation for leading the party toward greater democracy, which means increased participation of all party members in key decisions that affect them.

APC Orders Fresh Congresses in Imo State Onyebuchi Ezigbo Ă“Ă˜ ĂŒĂ&#x;ÔË

begin with ward congresses today. Following the decision of the This will be followed by local National Working Committee government congress to held on (NWC) of the All Progressives Saturday and state congress on Congress (APC) to fix new Monday. dates for fresh congresses The conduct of the state in Imo state, the stage is set congresses was bedevilled for the state governor, Rochas with crisis and became a subject Okorocha to attempt to take of litigation between the state. control of the party’s state governor and those opposed executive. to him. In a statement issued A High Court in Owerri yesterday evening by the recently ruled against the National Organising Secretary, congress conducted in the state Emma Ibediro, the party by the previous leadership of said  fresh congresses would APC.

SIGNED AND SEALED

Chairman/CEO, Waltersmith Petroman Oil Limited, Mr Abdulrazaq Isa (left), and Senior Director, Africa Finance Corporation (AFC), Mr. Taiwo Adeniji, during the signing of the $35 million debt facility agreement for the 5,000 barrels per day refinery project between Waltersmith and AFC in Lagos... yesterday ˿

HERDSMEN KILL POLICEMAN, SIX OTHERS IN TARABA intelligence on the attack. We are trying to find out the perpetrators who took the law into their hands, instead of reporting to us; if really a case of cattle rustling was established,� he said. Meanwhile, there was panic at the headquarters of the Kaduna State Police Command yesterday when some riot policemen started shooting sporadically, killing a woman in protest against the killing of their colleagues by bandits during an ambush. The policemen deployed to the Birnin Gwari area for special operations against bandits terrorising the area, lost two of their colleagues to the attacks by the bandits. A police officer who witnessed the Kaduna incident said, “the policemen brought the corpses of their colleagues and blocked the road leading to the command and started shooting sporadically in the air�. According to him, a woman whose identity could not be immediately established was hit by the bullet and was rushed to the hospital where she died due to excessive bleeding. Our correspondent gathered that the policemen were later disarmed and detained. However reacting to the incident, spokesman of the command, Mukhtar Aliyu said in a statement that the policemen were mourning their dead colleagues when an

accidental discharge occurred. Aliyu said in a statement that the policemen who brought the corpses of their colleagues were in deep mourning mood. According to the statement, “the police team engaged the attackers in a fierce gun battle and at the end, two of the unidentified gun men were killed and one AK 47 rifle was recovered. “Unfortunately, two police officers lost their lives in the incident. However, the situation has been promptly brought under control. In their deep mourning mood, some police officers who conveyed the corpses of their late colleagues to Kaduna encountered an unfortunate incident where there was accidental discharge of gun-shot which hit a female member of the public. She was rushed to the hospital but sadly died from sustained wounds,� he said. In a related development, the Zamfara State Police Command yesterday, said it foiled an attempt by bandits to attack Tangaram community in Anka LGA of the state. This was contained in a statement signed by the Police Public Relations Officer (PPRO) of the Command, Muhammad Shehu, in Gusau, the state capital. The statement said the command mobilised a team of policemen to the community

and engaged the bandits in gun battle, after which one was shot dead while others escaped with various degrees of bullet wounds. According to the statement, one of the suspects was killed by the police during the gun duel. “One AK 47 rifle with 16 rounds of live ammunition was recovered while the policemen are already combing the surrounding forest to arrest the fleeing bandits,�the statement added. It further said the command also arrested 72 suspected criminals and recovered 73 motor cycles from them. Meanwhile, the House of Representatives yesterday passed a motion urging Idris to beef up security Mayo-Belwa LGA of Adamawa State to prevent reprisal attacks that had claimed several lives The House further urged the National Emergency Management Agency (NEMA) and the Presidential Committee on North-east Initiatives to provide relief materials to designated camps to ameliorate their sufferings. It further observed a minute silence for those who lost their lives in the attack. The resolution followed a motion moved under matters of urgent public importance by Hon. Abdulrasaq Namdas (APC, Adamawa) on the matter. He noted concern that 16

communities in southern zone of the state had been involved in reprisal attacks leading to loss of lives and properties worth millions of naira. He said the residents of affected communities had been rendered homeless with over 200 houses had been razed down. In another development, a member of the House of Representatives representing Shiroro/Rafi/Munya Federal Constituency of Niger State, Hon. Abubakar Chika Adamu yesterday protested alleged corruption in the execution of constituency projects in his zone by the Ministry of Power, Works and House in 2016 and 2017. The lawmaker, who had last year indicated he would quit politics and won’t seek a re-election to parliament because of the general believe that politicians are corrupt, said there are no evidence that the ministry executed the zonal intervention projects in his communities. He said though the sum of N30 million had been earmarked for each of the years, no project was carried out from the money, noting that the few interventions in the zone were those carried out by the Sustainable Development Goals (SDGs). He, therefore, sought answers on the whereabouts of the constituency allocations to his community.

T H I S D AY ˾ WEDNESDAY, JULY 18, 2018

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WEDNESDAYSPORTS

ÜÙßÚ ÚÙÜÞÝ ÎÓÞÙÜ Duro Ikhazuagbe ×ËÓÖ duro.ikhazuagbe@thisdaylive.com 0811 181 3083 SMS ONLY

WORLD CUP RANKINGS

FIFA Puts Super Eagles in 25th Position Out of 32 Teams

Super Eagles Captain John Mikel Obi (right) was hailed by Nigerian public for playing his heart out in spite of the news of his father’s kidnap just few hours before this crucial match against Argentina. Beside him was Odion Ighalo after the 1-2 defeat at St. Petersburg Femi Solaja Following the exit of the Super Eagles at the group stage of the just concluded World Cup finals in Russia, Nigeria was ranked in 25th position in the tournament won by France for the second time in their football history. According to the records from FIFA statistics department and made available yesterday, the failure of the Mikel Obi-led team to survive the late surge by Lionel Messi’s Argentina side in the last group match played at Saint Petersburg means that the team’s ranking at the quadrennial was better at the Brazil edition held in 2014 where Nigeria was eliminated in the second round by France. From the record monitored yesterday, aside winners, France, runner up, Croatia and Belgium who triumphed against England

in the third placed match which automatically announced the first four positions, host Russia placed fifth with Sweden, Brazil, Uruguay and Colombia all followed as quarter finalist in the tournament. Switzerland, Japan, Mexico, Denmark all followed just as former champions, Spain who were eliminated by Russia in the second round via lottery of penalty shootout placed 14th while Cristiano

defending champion, Germany has to tail Korea Republic in 22nd position and Iceland followed Nigeria 26th position just as the Arab quartet of Iran, Morocco, Saudi Arabia and Egypt, in descending order were in least of the 32 teams. FIFA statistics also revealed that of the 64 matches played, a total of 169 goals were scored which represent 2.64 per match and 12 own goals and 29 penalty kicks were taken out

of which 22 was scored and seven were missed. A total of seven free kicks were scored while four red cards were issued and a staggering 219 yellow cards were issued by the referees in all the 64 matches. The winner of the tournament, France were awarded $38million while finalist Croatia collected $28million. Belgium and England were awarded $24million and

$22million respectively. All the quarter finalists were paid $16million each just as teams that crashed out in the second round were awarded $12million each and Super Eagles of Nigeria and the rest of African representatives alongside all the other participants that failed to go beyond the group phase all received $8 million each for participation.

Maradona Takes over Belarus Club as Chairman Argentina’s football legend, Diego Maradona has taken over as chairman, Dynamos Brest in Belarus, one of the republics linking Russia to Kaliningrad, the detached Russian region where Nigeria played against Croatia in the World Cup. Maradona was announced as

Iceland Coach Steps down after Russia 2018 Heimir Hallgrimsson has left his role as head coach of the Iceland national team after spending seven years in the position. Hallgrimsson led Iceland, alongside Swedish coach Lars Lagerback, to their first UEFA EURO in 2016, where they finished as quarter-finalists, before solely guiding the team as head coach to the nation’s first ever FIFA World Cup finals. Iceland exited Russia 2018 after the group stage, but their debut at the world finals included a 1-1 opening draw with Argentina before suffering defeats by Nigeria and eventual finalists Croatia. The Football Association of Iceland yesterday posted the following announcement to announce his exit: “The FA of Iceland can now confirm that Heimir Hallgrímsson will not

Ronaldo’s Portugal ended up in the 15th position with Argentina tailing behind in 16th position. The Teranga Lions of Senegal are the first African to emerged from the ranking with 17th position after a painful elimination by Japan who survived the qualification from the group via the ‘Fair Play’ rule used to break the tie. The Carthage Eagles of Tunisia were ranked 19th just as the

continue as head coach of the Icelandic men´s national team. Hallgrímsson steps down as Iceland coach at his own request after 7 years in the job, having joined in 2011.” After taking over from former Nigeria coach, Lars Lagerback, Hallgrimsson turned Iceland’s capital Reykjavik’s modest Laugardalsvollur stadium into one of Europe’s most foreboding venues, with Iceland undefeated in their last 11 competitive matches there before Russia 2018. Iceland defeated the likes of Czech Republic, the Netherlands and Turkey (twice) amongst others with Hallgrimsson in charge. He was for five years an assistant to Lagerback. Hallgrimsson indeed, vied for the manager’s job in 2011 before being appointed No2 to the Swede.

the club chairman on Monday as he signed a three-year contract and said he hoped the country’s strongman President, Alexander Lukashenko would become a fan. Maradona has caused a sensation in Belarus by agreeing to take charge of a club that was rescued from bankruptcy two years ago. He plans to move to Brest after parting company with Al-Fujairah FC where he was coach of the United Arab Emirates club. He touched down in Belarus after being a FIFA ambassador at the World Cup in next door Russia, where his matchday antics, including giving an

obscene middle-finger gesture to Nigeria fans during one game, raised eyebrows. “I want to make a photo with Lukashenko, I hope he will become our fan,” Maradona said at a press conference after landing in Brest to the cheers of two dozen supporters, and being given a traditional welcome of bread and salt. “I can live without problems in Belarus,” he added. Dynamo Brest have never won a league title and a local supporter told Reuters that until a couple of years ago the club had so little money that supporters sometimes were

asked to raise funds for team jerseys. But with the arrival of a new investor from the UAE, the club has won two domestic cups and plans to build a new stadium with a capacity of 30,000 fans. “Given the fact that boss Diego will live in Brest, I think people will come from all over the world to watch the game,” said the club’s director of development Viktor Radkov. Radkov said Maradona, who captained Argentina to World Cup success in 1986, will live in a mansion with a small gym in Brest and believes the

Argentinian will move there by August. “He had certain requirements, but all of them were reasonable,” Radkov said. The 57-year-old former Barcelona and Napoli forward previously managed UAE team Al-Wasl along with the Argentina national team from 2008 to 2010. President Lukashenko has ruled Belarus with an iron fist for nearly a quarter of a century though ties with the West have improved after he agreed to release some prisoners and tolerate a degree of opposition in parliament.

G OT V B OX I N G N I G H T 1 5

Fijabi Will Taste Defeat, Boasts Iberu IExperienced light welterweight boxer, Kazeem “Iberu” Ariyo, has warned Olaide “Fijaborn” Fijabi, the African Boxing Union (ABU) welterweight champion, to expect defeat when they clash in a national challenge bout at GOtv Boxing Night 15 on July 29.The event will take place at the Indoor Sports Hall of the Obafemi Awolowo (formerly Liberty) Stadium in Ibadan. The encounter will be the

second time the two boxers are meeting, with Fijabi walking away with victory the first time. Iberu, however, warned that his opponent, who has remained undefeated since turning professional, will be vanquished when they clash. “Fijabi has remained undefeated for long. But that will come to an end in Ibadan. I read in the newspapers that he boasted he would win by a knockout. That

exactly is what I will do to him. I am fully prepared. It will be different from the first time,” said Iberu. There are six other bouts on the card of GOtv Boxing Night 15, with the biggest being the ABU lightweight title bout between Ghanaian challenger, Nathaniel Nukpe, and incumbent champion, Oto “Joe Boy” Joseph. Other bouts include a national light heavyweight duel between

Daniel “Big Shark” Emeka and Sulaimon “Olags” Adeosun, and a national lightweight contest between Prince “Lion” Nwoye and Ridwan “Scorpion” Oyekola. 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.

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WEDNESDAY, ͹΀˜ ͺ͸͹΀ ˾ T H I S D AY

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Cahill Announces Retirement from Socceroos Australia’s all-time leading goalscorer and the first player in the country’s history to take part in four FIFA World Cups Tim Cahill has announced his retirement from international football. Cahill wrote the following on his official Twitter account: “Today’s the day that I’m officially hanging up my boots on my international career with the Socceroos. No words can describe what it has meant to represent my country. Massive thank you to everyone for the support throughout all my years wearing the Australian

badge.” Cahill made 107 appearances for his country, which is the second most in Australia’s history behind goalkeeper Mark Schwarzer (109). His first cap was on 30 March 2004 culminating with his appearance in Australia’s 2-0 defeat by Peru at the 2018 FIFA World Cup in Russia. He is Australia’s all-time leading goalscorer with 50, and to demonstrate the legacy he leaves behind, the next top goalscorer in the country’s history finished with 29 in Damian Mori.

LASG Commends Residents’ Conduct at W’Cup Viewing Centres The Lagos State Government has commended residents for their good conduct at the eight World Cup Viewing Centers throughout the period of the just concluded 2018 FIFA World Cup. Chairman of Lagos State Sports Commission, Dr. Kweku Adedayo Tandoh, in a statement yesterday, said throughout the one month period the centers were up and running, residents conducted themselves orderly and enjoyed the 64 games. Tandoh also thanked Governor Akinwunmi Ambode for his great wisdom and insight in approving the setting up of eight World Cup Viewing Centers across the State for Lagosians. “I want to thank Lagosians for making Governor Akinwunmi Ambode proud by their exemplary conduct at the various Viewing Centers. For 30 days, there were no cases of violence, hooliganism or unruly behavior”, Tandoh said. He assured Lagosians that the State Government under Ambode

would continue to position Lagos State as the leading sports hub in Africa while creating the synergy between sports, tourism, entertainment, job creation and business. Tandoh said he was overwhelmed with the success of the event adding that the huge success recorded could not have been possible without the support of all and sundry. He also expressed gratitude to International Breweries Ltd for partnering the State’s Sports Commission for the laudable project. The State Government, at the commencement of the World Cup on June 14, set up eight Viewing Centres with giant screens at Campos Mini Stadium Lagos Island; Teslim Balogun Stadium Surulere; Abesan Estate in Alimosho; Naval Yard Ajegunle; Bishop Aggrey School Mushin, Ikorodu Town Hall; Badagry Viewing Centre and Epe Recreation Centre in Epe.

Lagos fans enjoying the best of World Cup action at one of the designated centers provided by Lagos State government

Cahill

Barcelona Reports Record Revenue Revenues at La Liga winner Barcelona hit a record €914m (£809m) in the 2017-18 season, the club has said. The Spanish football giant also said it was on track to achieve revenues of €1bn by 2021. Barcelona received a world

record transfer fee of £200.6m from Paris St Germain for Brazilian Neymar in 2017. Since then the Catalan club has twice broken its transfer record on the signings of Ousmane Dembele (£96.8m) and Philippe Coutinho (£106.4m). Operating profits at the club

were €32m, while the net profit was €13m. “The board has valued the final balance of the year positively, and it’s in line with the strategic plan of the club to reach €1,000m of income in 2021,” the club said. As well as reclaiming the

La Liga title from rivals Real Madrid during 2017-18, the club also won the Copa del Rey for a fourth successive season. But they were knocked out of the Champions League by Italy’s Roma at the quarter-final stage.

C O U N T D O W N TO CA A ASA B A 2 0 1 8

History Beacons as Stephen Keshi Stadium is Being Test-Run Asaba will today join the league of state capitals with Worldclass stadiums as the Stephen Keshi Stadium will be officially declared open with a test run event, the Africa Tour Athletics Meet. Work started at the complex about two decades ago but competing needs and focus on other infrastructures hampered continuous work at the stadium. However, the story about the Asaba Stadium named after one of the illustrious sons of Delta State, Stephen Keshi changed the fateful day when Chief Solomon Ogba and the President, Confederation of African Athletics (CAA), Hamad Kalkaba, walked into the office of the Delta State governor, Ifeanyi Okowa to present the bid for CAA Asaba 2018 Africa Senior Athletics Championships. A statement from Olukayode Thomas, Head Media, and Publicity for CAA Asaba 2018 indicated that from the day the Delta State governor accepted the daunting challenge of hosting the 21st African Senior Athletics Championships, work started almost immediately in getting the Asaba Stadium ready. It was redesigned, and the contractors were mobilized to the site immediately and the stadium was completed in record time. Today’s event which will be the first sporting activity at the stadium is to test run facilities

Stephen Keshi stadium in final stage completion 12 days ago and other equipment to be used for the African Senior Athletics Championships. Although the main work at the Stephen Keshi Stadium was done by indigenous contractors, experts from China and other parts of the world are also working with the organisers and helping on the mastery of all the world-class equipment acquired. According to Yussuf Alli, Head Technical CAA Asaba 2018, for everything that is needed to properly host the African Championship, almost

double have been put in place to allow for a smooth and memorable championship. The former African record holder in the long jump event admitted that he would have loved to roll back the years to compete with the other athletes having seen the state-ofthe-art equipment all in place. The Chairman of the CAA Asaba 2018 LOC, Ogba expressed gratitude to everyone that has helped made the Delta State and Nigeria dream a reality. Ogba thanked the labourers, cleaners, artisans, and others

who worked tirelessly to help put up a structure which not only met the deadline set but will surely remain as a legacy for several years down the line. Nigerian elite athletes as well as their counterparts from other African countries including; Botswana, South Africa, Kenya, Gambia, Ghana, Mauritius among others will be competing in today’s Africa tour event. Events at the Africa tour meet have been categorized into promotional, elite and classic with winners guaranteed thousands of dollars.

T H I S D AY ˾ WEDNESDAY JULY 18, 2018

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Wednesday July 18, 2018

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Price: N250

MISSILE French Envoy to FG

“The reason for the killings is demography; some people are fighting for land, so there must be direct policy to develop agriculture and animal husbandry. I think impunity is encouraging the killings and those responsible must be punished. I don’t believe foreigners are involved in the killings. The second is justice‌.â€? The outgoing French Ambassador to Nigeria, Mr. Denys Gauer, identifying impunity and injustice as the factors driving the killings and bloodshed in Plateau, Benue, Kaduna and other parts of the country.

KAYODEKOMOLAFE THE HORIZON

kayode.komolafe@thisdaylive.com

0805 500 1974

A Post-Truth World After Mandela

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oday is the centenary of the birth of that authentic hero of our age, Nelson Mandela. The seeming lack of enthusiasm here about this important date in African history is a measure of how the post-apartheid leadership in South Africa has alienated other Africans especially Nigerians. Certainly, the mood could have been markedly different even a generation ago regarding the celebration of the Mandela centenary. The situation has since worsened since Mandela died five years ago. The hostility of South Africans towards other Africans is simply unjustifiable. Not even the objective factor of poverty of the majority of the black people would serve as a sufficient explanation. The subjective question of socio-political orientation is also important in trying to understand the ugly trend. After all, the Nigerian people had material problems when the nation was mobilised against apartheid and other forms oppression in southern Africa. Poor people donated to the South Africa Relief Fund. Forty years ago, Mandela celebrated his Diamond Jubilee in prison. In Nigeria it was a day of expression of solidarity by the government and people of Nigeria in support of the liberation struggle in southern Africa. You don’t notice a similar ferment on the street or official circles anymore. Not with the killings of scores of Nigerians by some disoriented persons in South Africa who lack the sense of history of the solidarity and friendship between Nigeria and South Africa. South African President Cyril Ramaphosa was here a few days ago to seek improved relations between the two countries. In response to legitimate questions on the barbaric killings of Nigerians in South Africa, all the comrade president could do was to blame this shameful trend on “criminality� as if it is not the responsibility of the South African government to have put an end to the killings that have become a culture for years now. Nigerians and other foreigners who break South African laws should be punished according to the rule of law and not the rule of mobs. Every report of killings of foreigners in South Africa, a country that has enjoyed the universal solidarity of lovers of freedom, would readily provoke a question: is the leadership in South Africa conscious of the fact that such acts negate the essence of Mandela’s pan-Africanism and, indeed, humanity? Indubitably, Mandela represented tolerance, inclusivity and solidarity of peoples. This truth is, perhaps, not being sufficiently told to the post-apartheid generation in South Africa. For instance, Ramaphosa, himself as a leader of the Congress of South African Trade Unions (COSATU) enjoyed a relationship of solidarity and comradeship with the Nigerian labour movement in the 1980s in the same way that cadres of the now ruling African National Congress (ANC) including one of Ramaphosa’s predecessors, Thabo Mbeki, was at home in Nigeria during the struggle. On his release from prison, Mandela upheld the historical truth of solidarity and friendship. The sage not only told truth, he acted it in an admirably principled manner. For instance, during the dark days of General Sani Abacha, Mandela ignored all the diplomatic niceties to speak the

Mandela truth about the unacceptable situation in Nigeria to the whole world. He saw Nigeria’s debacle on the road to democracy as South Africa’s problem. That was pan-Africanism in action in the true tradition of Kwame Nkrumah, Nnamdi Azikiwe and other African heroes. The criminals, who are killing Nigerians and other Africans in South Africa, and the leaders of the country, who have not done enough to stop the barbarism, are not upholding this truth held firmly by Mandela. There is a huge deficit of pan-Africanist consciousness in South Africa. South Africa after

Mandela needs to work hard on this aspect of the nation’s moral landscape. Mbeki attempted to do something about it by provoking some thinking about African renaissance. Unfortunately, his less intellectually endowed successor, Jacob Zuma, seemed not to have a full grasp of the idea. Hence the official embrace of the campaign was not significant in the Zuma years. It is not clear what Ramaphosa would do in this respect. Such a renaissance could have possibly doused the fire in the upsurge of xenophobia in an otherwise exemplary multi-racial society in constitutional terms. So it was fitting that the Mandela lecture was given yesterday by the first black president of the United States, Barack Obama on the theme of “Renewing the Mandela Legacy & Promoting Active Citizenship in a Changing World.� Worried about “strange and uncertain times,� Obama used the lecture to draw attention to the danger posed to the development of democratic culture by the practitioners of post-truth. Apart from post-truth, Obama also topically spoke on other associated “strange� happenings in the world at his time. Not a few would notice this categorical criticism of his successor, Donald Trump, even though his name was not mentioned in the course of the lecture. More than anywhere, perhaps, the doctrine of “alternative facts� has been legitimised in Trump’s America. For example Obama said: “: “I can’t find common ground if someone says climate change is not happening when almost all the world’s scientists say it is. If you start saying it is an elaborate hoax, where do we start?� The position of the

climate change deniers is an extreme case of the damage that post-truth could ultimately inflict on mankind. The former American president defended the sacredness of facts, the way Mandela did in struggling against racism. Obama is against post-truth just like Mandela fought the lies of racism. The apartheid regimes in South Africa invented their own “alternative facts� to justify apartheid for decades to the consternation of all defenders of social justice and freedom in the world. The “strongman politics,� which Obama implacably detests can only be sustained by the distortion of reality of the people by the purveyors of lies, hate and prejudice. It is remarkable, however, that Obama’s tone in this matter is decidedly optimistic. It is not only Africa that needs hope in the confusion of the post-truth age; the whole of mankind should keep hope alive. Yet, Obama did a good thing by telling his South African audience that immigration could be enriching to every society in many ways. The valid point about the racist anti-immigration movement in the U.S. inspired by Trump also speaks to the xenophobic killings in South Africa. He made a good reference to the multi-racial composition of the French team that won the World Cup on Sunday. Obama clearly spoke in the tradition of Mandela. As the world celebrates the centenary of the birth of Mandela today, the deep lessons about freedom, genuine solidarity and our common humanity embodied in his life should be learnt beyond the shores of South Africa.

Governors and the Nigeria Police Council Femi Falana

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ike majority of concerned citizens I have watched with dismay and frustration the unabated killing of thousands of innocent people including children and the wanton destruction of properties by terrorists, herders, kidnappers, armed robbers and other bandits. Having taken over the monopoly of violence the armed gangs have continued to unleash mayhem in various communities despite official assurance that the Federal Government is committed to the protection of the life and property of every person living in Nigeria. In view of the worsening security situation in the country I am compelled to call on the 36 state governors to request President Mohammadu Buhari to convene an urgent meeting of the Nigeria Police Council to deliberate on the organisation, administration and general supervision of the Nigeria Police Force with a view to designing strategies for effective policing of each state of the federation and the federal capital territory. It is pertinent to point out that this request is based on the following legal grounds: r 5IF /JHFSJB 1PMJDF $PVODJM JT POF PG UIF Federal Executive Bodies established

pursuant to Section 153 (1) of the Constitution of the Federal Republic of Nigeria, 1999 as amended. r #Z WJSUVF PG 1BSBHSBQI - 1BSU PG UIF Third Schedule to the Constitution the Council is constituted by the President, the Governor of each of the States of the Federation, the Chairman of the Police Service Commission and Inspector-General of Police. r 5IF GVODUJPOT PG UIF $PVODJM JODMVEF UIF general supervision, organisation and administration of the Nigeria Police Force and other matters relating thereto. r 5IF $PVODJM JT BMTP SFRVJSFE UP BEWJTF the President on the appointment of the Inspector-General of Police in accordance with section 215 (1) of the Constitution. r #VU EVF UP UIF GBJMVSF PG UIF $PVODJM UP hold regular meetings in line with the provisions of Section 159 of the Constitution its functions have been performed exclusively by the Presidency since civil rule was restored in the country on May 29, 1999. r *OTUFBE PG JOTJTUJOH PO KPJOU DPOUSPM BOE management of the Nigeria Police Force with the President as envisaged by the Constitution the 36 state governors are currently campaigning for the establishment of State Police, thereby giving the impression that we have in place is a

Federal Government Police Force. r *U JT EPVCUGVM JG UIF HPWFSOPST BSF GBNJMJBS with the case of the Attorney-General of Anambra State V Attorney-General of the Federation (2005) 9 NWLR (Pt 932) 572 wherein the Supreme Court held that, “The Constitution in section 215 subsection (1) clearly gives the Governor of Anambra State the power to issue lawful direction to the Commissioner of Police, Anambra State, in connection with securing public safety and order in the State.� In the light of the foregoing, the Council may wish to take advantage of the proposed meeting to direct the Attorneys-General of all the states of the Federation to embark on the immediate prosecution of the hundreds of suspects that have been arrested by the combined teams of the Police and the Army for culpable homicide, kidnapping, armed robbery and arson which are state offences. Apart from this proposed meeting I call on the governors to ensure that the Council meets on a regular basis to review the security situation in the country. The security of the nation cannot afford to wait for the planned establishment of State Police. r .S 'BMBOB JT B 4FOJPS "EWPDBUF PG /JHFSJB

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