CBN Pumps $23.2bn into Forex Market in 17 Months Obinna Chima The Central Bank of Nigeria (CBN) has injected a total of $23.257 billion into the interbank segment of the foreign exchange (forex) market since it commenced its intervention in February last year, figures compiled by THISDAY have shown.
THISDAY had put the total amount of the weekly forex sales as of March 26 this year at $18.067 billion. The amount has, however, increased by $5.190 billion, to $23.257 billion as of August 8.
A breakdown of the forex intervention in the past four months showed that while in April the central bank intervened with a total of $1.026 billion; May - $1.272 billion; June - $1.502 billion, the bank however
reduced the amount of forex intervention in July to $970 million. According to the weekly FX sales by the central bank between February 21, 2017, and August 8 this year, compiled by THISDAY, the
CBN has sold the greenback to authorised dealers in a total of 97 sessions. The analysis of the dollar sales further showed that in 2017 alone, the bank intervened with a total of $15.043 billion and in the
Court Stops Police Interrogation of Saraki over Offa Bank Robbery ... Page 11
first seven months of 2018, it has pumped in $8 billion in the market. Market analysts maintained that the interventions by the apex bank have helped in eliminating the pressure on the FX market, ensured exchange rate stability Continued on page 8
Thursday 9 August, 2018 Vol 23. No 8514. Price: N250
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EFCC Freezes Benue, A'Ibom Govt Accounts It’s wrong, says Yari Ndubuisi Francis, Onyebuchi Ezigbo in Abuja and George Okoh in Makurdi The Economic and Financial Crimes Commission (EFCC) has frozen three bank Continued on page 8
IBETO CEMENT ACTUALISERS… L-R: US investors, Mr. David Alan Smith and Mr. Kent Alfred Dean Clark; Chairman, Ibeto Group, Dr. Cletus Ibeto; Ebonyi State Governor, Chief Dave Umahi; Head of Delegation, Ms. Amanda Jo Wester; and members of delegation, Mr. Patrick Richard Mokros and Mr. Egerton Foster, during the working tour of the American Actualization Team to Ibeto Cement Company, Nkalagu Plant in Ebonyi State…recently
Osinbajo Got Buhari’s Consent to Dismiss Daura, Says Presidency Saraki: National Assembly ready to reconvene Meets INEC chief, IBB Deji Elumoye, Omololu Ogunmade, James Emejo in Abuja Acting President Yemi Osinbajo got the consent of President Muhammadu Buhari to dismiss the former Director-General of the State Security Services (SSS), Mr. Lawal Daura, the presidency said yesterday. The Special Adviser to
the President on Media and Publicity, Mr. Femi Adesina, disclosed this while answering questions from journalists at the end of the weekly Federal Executive Council (FEC) meeting in the State House, and said the presidency was one, hence a decision of that magnitude would not have been taken Continued on page 6
Minister of Information and Culture, Alhaji Lai Mohammed (left), and former Senate Minority Leader, Senator Godswill Akpabio, during Akpabio’s defection to the All Progressives Congress in Ikot-Ekpene, Akwa Ibom State...yesterday
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FG Approves N17bn Technology to Track Fuel Consumption Okays N42bn for construction of NCMB headquarters in Yenagoa
Omololu Ogunmade in Abuja The federal government yesterday in Abuja approved an automated fuel system management and censor network aimed at revealing the daily fuel consumption by tracking fuel delivery from the point of entry into the country to its final delivery in the petrol station. Briefing journalists at the end of the weekly Federal Executive Council (FEC) meeting presided over by Acting President Yemi Osinbajo in the State House, the Minister of State for Petroleum, Dr. Ibe Kachikwu, said the move was an initiative of the Petroleum Equalisation Fund (PEF) conceived to assist in revealing the exact litres of petroleum being consumed in the country every day. Kachikwu also said the adoption of the PEF initiative had become imperative in view of discrepancies in
figures being bandied as daily fuel consumption in the country, and consequently affecting subsidy payment and remittance to federation account while a huge volume of petroleum products is illegally moved out of the country. According to him, when the network becomes operative, every truck conveying fuel would be licensed with a driver and a transport company with a view to finding the transporter and the company that will take responsibility for any missing truck. The minister also said with the advent of the network, the exact daily fuel consumption in the country would be known for the first time; adding that the Nigerian National Petroleum Corporation (NNPC), Department of Petroleum Resources (DPR) and Petroleum Products Pricing Regulatory Agency (PPPRA) would collaborate
effectively to achieve this aim. He said: "The president has given a very serious mandate that we ought to rein in on his process. The essence of what PEF is doing is that this will enable us track refined petroleum product movement from the point of LC (letter of credit) opening from the vessels that come into Nigeria, up until the point where they are discharged into tanks in Nigeria, and from the tanks into trucks in Nigeria, monitor the trucks till they deliver the products into the storage tanks for the filling stations and they are discharged and sold. "So, that will produce a 100 per cent holistic monitoring of this production. For the first time, we will be able to tell how much petroleum products we consume in this country because there has been so much going on in terms of the movement of consumption numbers from 30 something million litres a
day to 70 million litres to 18 million litres a day during the difficult times. "And the challenge the president has given me is to rein that in. Let's know what we consume in reality. Let's know where these products are going and this process will be able to track every truck. So, a typical truck will be licensed with a driver, with a transport company. So, if a truck misses, you can find the transporter and the company that takes responsibility. "So, we expect this to be over a period of three years but we promise that within one year, the real effects of this will begin to show. Obviously, you need time to train and to continue to improve the system. We hope that by the time we start doing the 2020 budget in 2019, we would have gotten to a point where the losses that you are seeing are being tracked and substantially, impact will be made in
monies that come into the federation accounts "It will help us keep proper data repository of consumption in this country, data on all trucks that operate, total number of products received, what is sold out of filling stations and it is going to be a collaborative system that involves NNPC, DPR and PPPRA but situated quite frankly in PEF," he said. The minister also said FEC approved the review of a contract sum for the construction of Nigerian Content Development Management Board (NCMB) headquarters in Yenagoa, the capital of Bayelsa State, from the initial N27 billion in 2015 to N42 billion. According to the minister who described the project as a dramatic skyline in Yenagoa, the upward review was largely dictated by variables in foreign exchange, recalling that the exchange rate which was initially about
N157 to $1 is now N305 to $1 "and still counting." He also said the review was necessary to facilitate the completion of the contract, pointing out that once completed, NCMB will stop paying rent on a number of buildings it had rented in Yenagoa. He added: "But most important, the whole glamour of the South-south states during the vice president's visit to the Niger Delta with me and the Minister of Niger Delta, was largely to see oil companies during foothold in some of these South-south states. "The building is larger than what the NCMB needs and already, talks are on with AGIP and a few of them who want to position their presence very effectively in some of these areas. If we continue at this pace of construction, Mr. President should be able to commission that building between the end of this year and early next year."
OSINBAJO GOT BUHARI’S CONSENT TO DISMISS DAURA, SAYS PRESIDENCY without a sense of unanimity between the president and his deputy. According to him, the acting president is a decent man who is not obsessed with power, pointing out that there was no battle between them and that accounts for the reason the president always transmits power to Osinbajo whenever he's leaving the country. Adesina said, "What we will like to say for the umpteenth time is that the presidency is one. Whenever the president is proceeding on vacation he transmits power to the vice president, who then becomes the acting president. On this occasion he also did that. "So, the acting president has all the powers of a president. Now it’s a matter then of decency and we know that the acting president is a decent man. There is no tussle for power. There is no battle between him and the president. "When something like what happened yesterday would happen, there would be unanimity. There was no way there wouldn't be unanimity on that kind of decision. It’s not something that will be discussed with the press but know that there was unanimity in the decision." Osinbajo had on Tuesday ordered the immediate dismissal of Daura and consequently directed him to hand over to the most senior officer of the DSS following his unilateral decision to deploy DSS operatives to the National Assembly without authorisation. Masked DSS operatives armed to the teeth had taken over the two gates of the National Assembly at the dawn of Tuesday, preventing senators and staff of the National Assembly as well as journalists from gaining
entry into the premises of the apex legislative institution. Following Daura's sack, Matthew Seiyefa, an indigene of Bayelsa State and a former Director of the Institute of Security Studies, Abuja was appointed as the Acting Director-General of the Service. Until his appointment, Seiyefa was the most senior director in the DSS.
Saraki: N’Assembly Ready to Reconvene Meanwhile, Senate President Dr. Bukola Saraki yesterday said the National Assembly was ready to reconvene to discuss any urgent matter of national importance even as he dismissed claim that it was frustrating the passage of the budget of the Independent National Electoral Commission (INEC) expected to be used to organise the 2019 general election. He said the claim was not true, adding that the delay in consideration and probable approval of the commission's election budget was caused by both the executive and INEC that didn't submit the request in good time before the parliament proceeded on its long recess in July. Saraki, who addressed a world press conference along with the Speaker of the House of Representatives, Hon. Yakubu Dogara, however, assured Nigerians that the legislature was ready to attend to the needs of INEC as well as other urgent national matters even it demands to reconvene its members. According to him,"On that day after we adjourned, we realised that the electoral bill had not been passed and we decided to wait and take the electoral bill and
passed it and that was the only issue pending before us for elections. "The issue of INEC request is amazing and nobody is asking; was it the day we were leaving that INEC realised they had a project? "They had January, February, April, May and June; nothing from the executive to say we need money for INEC, until July when we were leaving. "But we are ready to support the executive at all times and I will let something out: since we've gone on recess even before this problem, both myself and the Speaker have met with the chairman of INEC to tell us what are the issues and this conversation had been going on." Saraki said, "So, we'll do all that's necessary. As I said, if it means us coming back because we've not even committed it to committee, it just came as a letter, which was read on the floor, it still has to go to the committee... and that was our plan yesterday but the situation was not conducive for us to hold the meeting. "Even now as we were walking in here, we've already sent for the INEC chairman to come so that the meeting we didn't hold yesterday, let's hold it immediately now. "If there's need for us to reconvene so we can send it to committee, we will do that...The executive knew there was going to be an election, why didn't they include it in the 2018 budget? "Okay, after you submitted the 2018 budget, you had December, January February, March, April, May, June... So to say it's the National Assembly does not want election is not true. "I want to reassure you on that and any other matter
that is important and needs to be addressed, we'll do it." The Senate president also charged President Muhammadu Buhari to assent to the electoral amendment bill, which had been passed by both chambers of the National Assembly and transmitted to him in order to ensure the success of next year's elections. He said, "If you remember, the first electoral bill we sent to the president, we'd the issue of change in the sequence of election and we had about three other issues. "The president wrote back to us and said on these three issues, I agree to the first two but on change on sequence of election, I don't agree." He said:"In our wisdom and in the interest of moving the country forward, we said, fine, we will do what you want: we now did an amendment where we've taken out the sequence of election and did exactly what he'd asked for and now we said, we've sent what you asked for, kindly sign so we have a follow up." On whether he would be willing to relinquish his seat having decamped to the Peoples Democratic Party (PDP) in the senate, Saraki said:"I was not given the senate seat; I was elected by members. "And according to our constitution, it says that members of the National Assembly who so wish as a member, it does not say you have to come as a political party." He also promised to speak on the speculation making the rounds over his possible ambition for presidency "when the time comes." On why APC lawmakers were not at the National Assembly complex on Tuesday, to give credence
to allegations of plot to unseat him, Saraki said:"As you are aware and as we know and there are evidences to support that, as I said, this was planned from the outside. "And those that came early enough, the officers said,"we have a list of those that should be given access to come in. "The plan was for the APC lawmakers in the senate to be given access; they were on the list; that's why members whose names were not on that list were allowed to get in. "And the reasons why they (APC senators) were not here as we all know was that they were holding a meeting somewhere else. "And their plan was to go from there to arrive here; they had a meeting last night but unfortunately, it was inconclusive. If their meeting last night from 9p.m. to 4a.m. had been conclusive, they would have been here as early as eight in the morning- but the meeting was inconclusive and they re-adjourned to 11a.m and members of other party must have heard about that and said okay, we will all be here. So that's the reason why they were not here." Also, on the suggestions that the Director General of the Department of State Security (DSS) and the Inspector General of Police (IG) report to him, thereby creating an impression that the whole invasion of the National Assembly was stage-managed in favour of PDP, the Senate president said, "Nigerians are not fools and I think it's an insult to the integrity of all of us; those of you who were here as early as 6a.m, over a hundred officer of state department were here: we have our sergeant-at-arms,
we have our security- we never requested for it-or Speaker, did you request for it? "We are all leadership here; we never said we needed additional security, we have competent sergeant-at-arms here, who over the years have continued to defend this place...The only time we'd trouble here was when we had the invasion from outside- when the mace of the Senate was stolen...It's just an afterthought- the same state security that withdrew our security now you are saying...Let's not insult the intelligence of Nigerians. "What happened here yesterday, and that's why you'd the acting president Continued on page 8
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NGN NGN 0.08 0.94 0.02 0.25 0.06 0.77 0.35 5.70 0.10 1.80 NGN NGN 0.03 0.28 0.03 0.30 UNIONDAC 0.03 0.36 CUTIX 0.25 4.00 OANDO 0.25 5.45 HPE Nestle Nig Plc ₦1,560.00 Volume: 11.037 million shares Value: N730 million Deals: 2,610 As at yesterday 08/08/18 See details on Page 37
% 9.3 8.7 8.4 6.4 5.8 % 9.6 9.0 7.6 5.8 8.7
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NEWS EFCC FREEZES BENUE, A'IBOM GOVT ACCOUNTS accounts belonging to the Benue and Akwa Ibom State governments. Officials of the two states confirmed this yesterday, declaring the action as part of the political witch-hunt against the states. While Ortom recently defected from the All Progressives Congress (APC) to the Peoples Democratic Party (PDP), Senator Godswill Akpabio, the political godfather of the Akwa Ibom State Governor, Mr. Udom Emmanuel, yesterday defected to the APC. In Benue State, the Chief Press Secretary to the Governor, Mr. Terver Akase, said the commission had linked the governor to an alleged fraud to the tune of N22 billion but Ortom denied the allegation. The EFCC said between June 30, 2015 and March 2018, the governor ordered the withdrawal of N21.3billion from four government’s accounts in Guaranty Trust Bank, First Bank of Nigeria and the United Bank for Africa. On paper, about N19 billion out of the money was said to be meant for the payment of six security agencies that had been deployed in the state to address the incessant clashes between herdsmen and farmers. Akase said, "Yes, it is true that accounts of the Benue State Government have been frozen by EFCC. It is part of the political witch-hunt against Governor Ortom. The action of EFCC is already having negative impact on the running of government in Benue State. It is a move that will affect salaries, pensions and other sundry payments. "The question we are asking is; why did EFCC not investigate the governor's security votes when he was still a member of APC? Why start the investigation now? He warned that the
EFCC should not allow itself to be used as an attack dog unleashed against perceived political opponents. "Let the federal government tell us how much it has spent on prosecuting the fight against Boko Haram and how much it spent on the other operations such as Python Dance, Crocodile Smile and Whirl Stroke.” He added that Benue has suffered heavy attacks by Fulani herdsmen since the beginning of the year even as he said legitimate support were given security agencies to protect the people of the state. "Governor Ortom has not diverted funds. He runs a transparent administration." Akase said the state government would welcome the investigation, but added it should start from the presidency and go across the 36 states. “Benue should not be singled out for victimisation, intimidation and harassment as the federal government with its agencies is currently doing," he said In Akwa Ibom State, a source said Governor Emmanuel and state accountant-general of the state were shocked by the development. It said, “The governor was shocked when he was briefed about the development. “He has demanded explanation from the EFCC. Our suspicion is that our big friend who just departed is behind the issue but we will fight this injustice.” Wilson Uwujaren, spokesman of the anti-graft agency, did not respond to inquiries. But the Chairman of the Nigerian Governors’ Forum (NGF), Alhaji Abdulaziz Yari, has described the freezing of state governments’ accounts was unconstitutional and
wrong. In a statement yesterday, the Zamfara State governor described such action by anti-corruption agencies as shutting down of government. Yari said a state like Benue facing insecurity might not be able to live up to expectations. “The freezing of any account of the state government whether Benue or anywhere is unconstitutional and is not right,” he said. “That is shutting down government. Government must spend, most especially Benue that is facing insecurity challenges. “Well, we don’t know why the EFCC took the action. But if indeed EFFC froze the account, from my point of view, it is wrong. “This government will not sit down and oversee unlawful operation from the security agencies. From what happened yesterday, everyone can understand that government is following due process and the laws of Nigeria. For one to just send security agencies to shut down the national assembly, and the action that followed, that is what gave credit to this government by local and international community. “Similar thing had happened in 2011 and 2014 respectively, but nothing was done about it. This time around, government said enough is enough. But the government of Muhammadu Buhari is following due process and will never oversee an unlawful activity by any security agency. So in the case of Benue, I believe something must be done.” Meanwhile, a pressure group, Benue Liberation Front (BLF) has called on the EFCC to stop its alleged persecution of the Governor Ortom following his defection from the ruling APC to the PDP.
The group stated that since the governor defected from the APC to the opposition PDP, "the EFCC has been detailed by the ruling APC to run down and frustrate the governor and by extension the people of Benue State." In a statement signed by its Coordinator, YunumTyosor, BLF noted that the EFCC, a supposed anti-grant agency, was fast losing its moral right to even prosecute alleged corrupt public officials, adding that "it has now become an attack dog of the APC-led government and a persecutor of perceived political opponents of the APC-led government. "The EFCC has lately conducted itself in a very low esteem that makes mockery of its anti corruption fight and indeed cannot absolve itself from the several corruption allegations that have dogged it under Mr. Ibrahim Magu, whom a DSS report has indicted as not fit for the coveted office he occupies, which is why the Senate has declined to confirm his nomination as the EFCC Chairman. "Since Governor Ortom defected from the APC to the opposition PDP, the EFCC has been detailed by the ruling APC to run down and frustrate the governor and by extension the people of Benue State. "It is on record that the state is the only state where the EFCC is investigating the security vote of the governor, even where security votes are clearly meant to be spent on security matters in the state. "Even a kindergarten is aware of the numerous security challenges that Benue State has faced lately and one wonders if the EFCC expected the governor to keep security funds idle rather than spend for the benefits of peace and security. "We are tempted to ask if
the governor of Benue State has lost his immunity just because he defected from APC to the PDP. "All the various security formations in the state can testify to the support, financially and otherwise that has been extended to them by Governor Ortom as they battle insecurity in the state. "It is unconscionable that the EFCC will attempt to freeze the accounts of the state government and cripple governance in the state and throw the citizens of the state into misery and hardships. "We join other wellmeaning Nigerians to condemn in strong terms this attack dog role of the EFCC as it offends our democracy and global best practice," BLF said. The group called on the acting President, Prof. Yemi Osinbajo to immediately sack the acting Chairman of EFCC, Mr. Ibrahim Magu, describing him as a danger to democracy. "Magu has also clearly taken sides, compromised his office in the discharge of his duty, which is against the oat he took, except of course, he is taking orders from the presidency to torment Ortom for daring to defect from APC," the statement said.
Unfreeze Benue, Akwa Ibom Accounts Now, PDP Tells Buhari Reacting to the development, the PDP has asked President Muhammadu Buhari to immediately order the unfreezing of the official accounts of Akwa Ibom and Benue States illegally blocked by the EFCC. The party described the action as a direct attack on innocent Nigerians in those states. In a statement issued by the National Publicity Secretary, Kola Ologbondiyan, PDP
condemned the freezing as illegal, unconstitutional, overtly wicked and cannot be justified under any guise within the clear dictates and contemplation of our laws and practice as a nation. "The PDP rejects the action of the federal government and counsels the Buhari presidency not to hide under the EFCC to unleash punishment and hardship on the people in states perceived to be averse to his 2019 re-election bid," it said. PDP also said by illegally blocking the flow of funds to these states, the APC-led federal government has ostensibly commenced a reprehensible design of using economic deprivation as a political tool to arm-twist governors and states to support President Buhari’s re-election in 2019. The statement read, "The APC has been seeking ways to subjugate Nigerians, for which it has now resorted to subjecting millions of compatriots already impoverished by the misrule of the Buhari administration, to face more hardship by seizing funds legally belonging to them. "Nigerians are all aware that no section of our constitution or any law in Nigeria for that matter confers any agency of the federal government with powers to interfere or put any restrictions on funds belonging or accruable to states as federating units of our nation. "Apart from its state assembly, no other government body or institution has the powers of appropriation or restrictions on any funds belonging to the state." PDP urged all Nigerians to stand up and resist this dangerous trend introduced by the desperate APC to subjugate Nigerians, for which Akwa Ibom and Benue States are now being used to test the will of the people in this direction.
OSINBAJO GOT BUHARI’S CONSENT TO DISMISS DAURA, SAYS PRESIDENCY do the right thing, it's wrong, they'd no business disturbing the works of an arm of government...they went beyond the ambit of law and the right action was taken. "We must protect this democracy, we must ensure the rule of law...If you want to remove anybody, the constitution is very clear; if you have the numbers, go ahead and do it; and if you don't have the numbers and you want to turn us into a banana republic where...I believe Nigeria has gone past that- we want to grow a
country that other parts of the world will be proud of us but this does not give us anything to be proud about." On whether the National Assembly would consider an impeachment proceeding against Buhari over the latest development, Saraki said, "The action that the acting president has taken, I've commended as a right step in the right direction: it's something they should have done much earlier; there'd been many cases of such atrocities we've seen before now. "I hope by this action, those
heading the agencies should learn from it. And we hold government accountable to consistency. They must be consistent now: actions that are attack on democracy, action that are now in the interest of the people, they should be able to sanction those agencies. "I don't think there's need for anyone of us to talk about the issue of impeachment." Saraki also expressed his readiness to resign as Senate president once he no longer enjoys the majority support of his colleagues. According to him, unlike
some politicians he was not desperate to remain in power. His words: Let me reiterate that neither myself, Deputy Senate President or Speaker belong to the class of politicians that are desperate to stay in power by all means and at all costs. The day, two thirds of our members feel they do not have confidence in our leadership, we will gracefully bow out. I repeat again and again, this is not about us, but about respecting the constitution and the rule of law." He expressed the commitment of the legislature
towards the entrenchment of the rule of law in the country. According to him, the legislature remains committed to working for a country governed by the rule of law. "Our desire is to have a society where there will be equity and justice, not oppression. We stand committed to doing our utmost as lawmakers to ensure that the responsibility and functionality of governance are met."
Saraki, Dogara Meet INEC Chief
Meanwhile, Senate President, Bukola Saraki and Speaker, House of Representatives, Yakubu Dogara met with Chairman, Independent National Electoral Commission (INEC), Prof. Mahmood Yakubu yesterday in Abuja. At the end of the meeting, the INEC chairman told journalists that he had a fruitful discussion with the National Assembly leadership, who he said will be meeting next week to consider the budget for INEC, for the 2019 general election.
“The favourable crude oil price offers support to the accretion to the external reserves in the short-term, despite the slowdown in foreign capital inflows,” FSDH Merchant Bank stated in a report. Mohammed Garuba, a founding Partner/Director of CardinalStone Partners Limited, a Lagos-based investment banking firm, pointed out in an interview with THISDAY that the
inflow of forex to a large extent would determine the performance of the Nigerian economy. “If you observe, even with high oil prices the external reserves have been dropping. Yet, we haven’t started spending for capital expenditure. Almost every week, at the end of the Federal Executive Council (FEC) meeting, they would announce approvals running into
billion and all these are from the reserves. While people are happy that they want to grow the economy where is the money going to come from? “So, the country needs to raise more Eurobond because if the reserves go below $46 billion, FX speculation may start again. So how we have kept the reserves at $48 billion, people don’t know,” he added.
CBN PUMPS $23.2BN INTO FOREX MARKET IN 17 MONTHS and eliminated currency speculators. The naira exchange rate has remained stable since last year when the central bank commenced the forex sales. In April 2017, the CBN introduced a new exchange rate window, the Nigerian Autonomous Foreign Exchange Fixing Mechanism (NAFEX), commonly known as the Investors’ and Exporters’
(I&E) window. The I&E window and the interbank market have been seen as the main exchange rate windows utilised in foreign currency trading. However, Nigeria’s external reserves continued its decline as figures released by the CBN yesterday showed that it has fallen to $46.869 billion as of yesterday. Analysts at FSDH Merchant Bank Limited
attributed the decline to “foreign investors’ pullback from the Nigerian market and the increase in demand at the foreign exchange market.” “The total inflow through the I&E Window between April 2017 and July 2018 stood at US$34.29 billion. Our analysis shows that the total inflow through the I&E Window in July was the lowest figure recorded since August 2017.
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Group News Editor Ejiofor Alike Email Ejiofor.Alike@thisdaylive.com, 08066066268
APC Makes U-Turn, Justifies DSS Siege to N’Assembly Blames PDP, Saraki Onyebuchi Ezigbo in Abuja Following last Tuesday’s incident at the National Assembly, the All Progressives Congress (APC) has said that the deployment of the operatives of the Department of State Service (DSS) was necessitated by the fears of a plot to unleash violence on the place by the supporters of the Senate President, Bukola Saraki. This is coming as the Peoples Democratic Party (PDP), has said the presidency and the APC were being haunted by their guilt, following the barrage of national and international indignation against them over their failed attempt to illegally take over the National Assembly on Tuesday Masked DSS operatives armed to the teeth took over the two gates of the National Assembly at the dawn of Tuesday, preventing senators and staff of the National Assembly, as well
APC betraying guilt, says main opposition party
as journalists from gaining entry into the premises of the apex legislative institution. The ruling party, which issued two statements on Tuesday, disassociating itself and condemning the DSS action, issued another statement yesterday, justifying it. While calling for a thorough probe of the entire incident, APC said it still maintains the call on Saraki to resign his post as Senate president. In the statement issued by the Acting National Publicity Secretary of the APC, Yekini Nabene, the ruling party accused the main opposition party and the supporters of Saraki of planning to forment trouble. The ruling party whose new position contradicted the earlier one, said it had discovered that there was a plan hatched to cause violence at National Assembly. “We are now aware that the timely intervention of the security
operatives forestalled the planned violence which could have led to possible deaths, injuries and destruction of property in the National Assembly on Tuesday. “Our investigations have now uncovered the sinister plot hatched by Saraki, to foment violence in the legislative chamber all in a bid to stop his impeachment,” the party said. APC also alleged that the
move to reconvene the National Assembly by Saraki was to forestall his impeachment. “Why did the Senate president mobilise thugs to the National Assembly who almost lynched Hon. E.J. Agbonayinma, the only APC federal lawmaker present but for the timely intervention of security operatives? “Why did the Senate president reconvene the National
Assembly? Ostensibly as a preemptive move to frustrate federal lawmakers move to impeach him. “Is it not curious that only PDP federal lawmakers were present in their numbers-some as early as 7a.m., while the majority APC federal lawmakers were elsewhere holding a caucus meeting on the state of the nation. “We call on the security agencies and relevant bodies to as
a matter of urgency probe these findings and take all necessary and legitimate action to stop these illegalities which pose a direct and ominous threat to our democracy. “While our contention with the leadership of the National Assembly as currently constituted
Cont’d on page 16
Six Kano Assembly Members Defect to PDP Former minister defects to APC Eight Edo APC lawmakers threaten to defect Mohammed Aminu in Sokoto, Ibrahim Shuaibu in Kano and Adibe Emenyonu in Benin Six members of the Kano State House of Assembly yesterday defected to the Peoples Democratic Party (PDP) from the ruling All Progressives Congress (APC). This is coming as a former Minister of Transport, Alhaji Yusuf Suleiman, has also defected with thousands of his supporters from the PDP to the APC in Sokoto State. The wind of defection blowing across the country is also about to take a swoop on the home state of the National Chairman of the APC, Adams Oshiomhole as eight lawmakers in the Edo State House of Assembly have threatened to defect to the other political parties. Reading the defection letter of the APC members to the PDP at the House plenary session, the Speaker of the House, Hon. Kabiru Alhassan Rrurum revealed that, the members said it was necessary for them to leave their previous party and joined the PDP. According to their letter, their decision was based on the premise that the party has failed to meet the aspiration and yearnings of the people they represent. The defectors, who are from six local government areas, include Yusuf Babangida Suliaman representing Gwale, Rabiu Saleh from Gwarzo, Zubairu Mahmud from Madobi, Yusuf Abdullahi Falgore from Rogo, Hamza Sule Bichi from Bichi and Isiaku Ali Danja from Gezawa. The Kano State House of Assembly now has seven members of the PDP out of
the 40 members. The House members’defection to PDP came in less than 24 hours after the defection of the former deputy Governor, Prof. Hafiz Abubakar and his 10 aides. Minister of Transport, Alhaji Yusuf Suleiman, yesterday defected with thousands of his supporters from the PDP to the APC in Sokoto State. Addressing party supporters shortly after picking his membership card in his ward in Isa Local Government Area (LGA) of the state, Suleiman said his decision to move to the APC was in consideration of the yearnings and aspirations of the people. However, eight lawmakers in the Edo State House of Assembly have also threatened to defect to the other political parties. It was not clear as at press time which political parties the lawmakers are planning to defect to, but the planned defection of the eight lawmakers, according to sources, is because they were not sure of getting the APC ticket. A source close to the lawmakers who are about to leave APC, hinged the planned defection on the ban on campaign by the Edo APC leadership, which according to him, has heighten fears of the lawmakers that it might be late for them to get nomination of other parties if they fail to secure APC tickets. THISDAY gathered that Oshiomhole, had scheduled to meet with all aggrieved APC leaders in the state today (Thursday) to resolve all issues which was botched at the last meeting owing to two reasons.
COURTESY VISIT TO THE GODFATHER
L-R: Senate President, Dr. Bukola Saraki (left), and former Military President, Gen. Ibrahim Badamasi Babangida (rtd), during a courtesy visit of Saraki to the former military ruler in Minna, Niger State…yesterday
INEC to Consider Extension ofVoters’ Registration Exercise Says over 80m Nigerians have been registered for 2019 elections Paul Obi, Adedayo Akinwale in Abuja and Laleye Dipo in Minna The Independent National Electoral Commission (INEC) yesterday said it would consider extending the Continuous Voters Registration (CVR) exercise which was supposed to end on August 17. The electoral body has also said it will immediately investigate cases of alleged infractions levelled against some of its staff in the local government areas of Niger State in the CVR exercise. Though INEC did not reveal the duration the extension would last, the commission however said it might ßextend voters’ registration if it becomes necessary and exigent to do so.
There have been concern and public outcry over the need to extend the voters’ registration beyond the August 17 deadline given the constitutional requirement that the exercise be held not earlier than 60 days to the elections. The Chairman of the commission, Prof. Mahmood Yakubu, made this known while playing host to ‘OurMumuDonDo’ group, led by Charles Oputa, also known as Charly Boy; presidential candidates, Mr. Omoyele Sowore; presidential candidate of Young Peoples Party; Prof. Kingsley Monghalu; Deji Adeyanju; Ralph Adebayo among others. The group, in a letter presented to the INEC chairman and signed by Oputa on behalf
of the group, observed that since the commission announced that it will suspend the CVR exercise, the movement, other notable groups, individuals and visionary young presidential aspirants who relate with the electorate have been inundated with calls and complaints from frustrated Nigerians across the country who are still unable to register as eligible voters. The group stressed that while it commended lNEC for the improvements in the exercise, the extension of time on daily basis to between ‘9a.m. and 5p.m. and the grace to register on Saturday and Sunday, and in as much as these adjustments are welcome, they did not capture the real essence of making the registration a continuous exercise
as guaranteed by the Electoral Act, 2010. They added that those born after May 29, 1999, would be eligible by age to vote for the first time, stating that “every day of the year 2018, scores of these children are attaining the age of 18 and many of them are eager and excited to participate in the 2019 elections.” The group said: “Fortunately, these children have been handed the grace to register up to 60 days to the general elections by the Electoral Act in accordance with Section 9 (5), which states that the registration of voters, updating and revision of the register of voters under this section shall stop not later than 60 days before any election covered by this Act.
Saraki Visits Babangida in Minna Laleye Dipo in Minna Senate President, Bukola Saraki ,yesterday paid a private visit to former military President, General Ibrahim Babangida (rtd), in Niger State. Saraki, who arrived Minna, the state capital, by air at about 3.58 p.m., was driven in a motorcade to the hill top residence of Babangida. He was accompanied by Senator Shaba Lafiagi, two other senators and four other aides. Authoritative source told THISDAY that the state
government was informed about Saraki’s “private visit” while the governor was presiding over the weekly state executive council meeting at the council chambers. It was further gathered that coincidentally, the state Governor, Sani Bello, adjourned the meeting and went to Abuja for “an important assignment.” However, Saraki was received by the state Commissioner for Investment as the governor was already on his way to Abuja. Political observers attributed Bello’s action to the fact that the
Senate president had defected from the All Progressives Congress (APC). It was also learnt that the governor’s action was to further reemphasise the fact that he still belongs to the APC contrary to the rumours that he was decamping to the Peoples Democratic Party (PDP) with the Senate president. Meanwhile, the meeting between Babangida and Saraki held behind closed doors lasted for two hours. Their discussion, according to political observers, was not unconnected with last Tuesday’s
siege to the National Assembly and the political situation in the country as well as his reported plan to contest for president in 2019. Saraki and his entourage left the Babangida’s residence at about 5.55p.m. and arrived at the airport at 6.16 p.m. but declined to talk to journalists. One of his aides, however, told journalists that “this is a private visit, so he will not talk to anyone.” The Senate president later flew off in a chartered flight with registration number 5NBOD at about 6.20p.m.
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NEWS
PDP BoT to Meet With Presidential Aspirants over Consensus Candidate Says party happy to‘donate’Akpabio to APC James Sowole in Akure and John Shiklam in Kaduna The Board of Trustees (BoT) of the Peoples Democratic Party (PDP) is to meet with all its presidential aspirants to discuss the possibility of reaching agreement on a consensus candidate for the 2019 elections. Chairman of the BoT, Senator Walid Jibrin, disclosed this yesterday at a press conference in Kaduna, the Kaduna State capital. This is coming as the former Minister for Special Duties and Inter-Governmental Affairs and presidential aspirant onthe platform of the PDP, Mr. Kabiru Taminu-Turaki, yesterday expressed optimism that the presidential primary of the party would not create problems for the main opposition party. The PDP BoT chairman also stated that the main opposition party was happy to ‘donate’ the former Senate Minority Leader, Godswill Akpabio to the All Progressives Congress (APC), adding that PDP has many qualified senators who can do Akpabio’s job, which has been elevated to Senate Majority Leader, in view of the numerical strength of the main opposition party in the Senate. Jibrin also insisted that those who participated in blocking the National Assembly last Tuesday must not be allowed to go free. While advising the presidential aspirants of the PDP to go about their campaigns with decorum and shun rumours that could scuttle their chances of becoming
the next president, Walid said the BoT was making every effort to bring the aspirants together to discuss on the possibility of having a consensus candidate. “Efforts are on ground by BoT to bring all the PDP presidential aspirants together to consider how best they should accept one of them to stand, realising that despite their number, only one person will emerge as a candidate during the primaries and also only one person will emerge as the president of Nigeria” he said. Jibrin added however that if the aspirants cannot agree on a consensus candidate, the party will have no other choice but to conduct primaries. He also stressed the need for the party to allow more room for defectors as it “will continue to boost the ego of the party.” “While we do this, we will also consider the role played by our old and hardworking existing members who supported the party almost to the point of death. No defector should be pushed away for now. We shall apply conflict management resolution methodology to enable us remain stronger. “We must at all cost sacrifice. In the light of the above, PDP shall never be used against us by the APC as more of their members continue to decamp to PDP and the integrity they are trying to sell themselves as aspirants. I assure them that they are all qualified but only one of them will become the president of Nigeria,” he said. Jibril said the BoT would try
PDP primary election will not cause Crisis, says Turaki
its best to carry out its function by remaining the conscience of the party always. Jibrin said: “We have men and women of honour in the BoT that will never sell their conscience and will ensure that the best will come out of the presidential aspirants without fear or favour. “I urge all organs of the party to partner the BoT in this respect. I call on all the members of PDP to remain calm and resolute by remaining unshaken with the belief that PDP will take over government at the federal and state levels with majority of our members in National Assembly and state assemblies.” Commenting on the siege on the National Assembly by the Department of State Security (DSS) on Tuesday, Jibrin said such undemocratic practice would not move the country forward. He described the action of the DSS as condemnable and called for appropriate sanction against the perpetrators. The BoT Chairman com-
mended Vice President Yemi Osinbajo for taking the decision to do away with the DSS Director General and promising to investigate the incident. Jibrin said: the defection of Senate President, Bukola Saraki; Governors Aminu Tambuwal, Samuel Ortom, Abdulfatai Ahmed; Senator Rabiu Kwankaso and several other members of the National Assembly to the PDP, with many more on their way out of the APC, should be seen as an act of democracy. “They should therefore never be condemned but praised for their boldness of taking a decision on behalf of their numerous supporters. “The purported resignation of our Senate Minority Leader, Akpabio, is also an act of democracy. “Therefore, considering the recent action taken by Vice President Osinbajo, the PDP is happy to donate Akpabio to APC through him with great pleasure, as we have many PDP senators to do that job which has been upgraded to majority
leader. On behalf of the BoT, we wish Akpabio bye-bye and safe journey, advising, him to learn from history, especially from those that left us and are now returning,” he said. Meanwhile, a former Minister for Special Duties and InterGovernmental Affairs and presidential aspirant of the Peoples Democratic Party (PDP), Mr. Kabiru Taminu-Turaki, has expressed optimism that the presidential primary of the party would not create problems. He stated this in Akure, the Ondo State capital, while speaking with journalists after meeting with leaders of the party at the party’s state secretariat. Turaki disclosed that all the presidential aspirants of the party were already meeting in a bid to have a candidate ahead the presidential primary of the party without any rancour. He declared that the party was determined to oust the present administration of the APC. According to the presidential aspirant, the forthcoming presidential election in 2019
is not about the PDP or any individual but about the rescue of the “failing Nigeria” from the APC-led government. He said the need to oust the APC led government made all the PDP aspirants agreed to support anybody eventually emerged as the candidate of the party . “Nigeria needs a person with good character, integrity, good health and fear of God. All the aspirants of the PDP are eminently qualified to get the ticket of the party. “ I want to say that anyone of us that gets the ticket of the party will perform better than what the APC is doing to our country now. We have met and discussed with one another that we will support anyone who gets the ticket. “The matter is not about us or the PDP but about the people of this country. People are being killed everyday and nothing is being done about it, our economy is nothing to write home about, the APC is moving the country backward,” he said.
Court Stops Police Interrogation of Saraki over Offa Bank Robbery Alex Enumah in Abuja A High Court of the Federal Capital Territory (FCT) in Jabi, Abuja, yesterday ordered the Nigerian Police to halt its interrogation of the Senate President, Dr Bukola Saraki, over the Offa bank robbery, pending the determination of a fundamental rights suit brought against the federal government. Justice M. A. Nasir gave the restraining order while ruling on an exparte motion brought by 10 human right lawyers led by the National Chairman of APP party, Mr. Ikenga Imo Ugochinyere, seeking the enforcement of the fundamental human rights of the Senate President as guaranteed by section 34,35,36, and 41 of the Nigerian Constitution and article 2,4,5,6,10 and 12 of the African Charter on Human and peoples right. In the suit marked: M/8280/2018, the plaintiffs asked the court to among others, restrained the respondents from interrogating, harassing, inviting, arresting, detaining or taking any action that would infringed on the fundamental rights of the Senate president pending the hearing and determination of the substantive Matter. The motion filed on their behalf by their counsel, E. C. Nweke is dated July 30, 2018, and supported by a 35 paragraph affidavit. Aside the Nigerian Police Force, other respondents in
the suit include the Attorney General of the Federation (AGF) and the Inspector General of Police (IG). Ruling on the exparte motion, Justice Nadir, directed the respondents to “stay all actions related to this suit pending the determination of the originating motion fixed for 16/8/2018.” The plaintiffs in the substantive suit is seeking a declaration that the contious harassment and invitation of Saraki by the IG and the police in connection with the offa robbery based on trumped up, unfounded and unsubstantiated allegations of crime is unlawful, unconstitutional, oppressive and in gross violation of the Senate president’s fundamental rights. A declaration that the continuous invitation of Saraki by the police with the intent to investigate, arrest, detain and prosecute him based on the interim report of the Director of Public Prosecution of the federation, when the said report did not disclose that Saraki was guilty of any criminal offence is arbitrary, illegal, unconstitutional, null and void. The plaintiffs therefore prayed the court for an order setting aside the letter of invitation dated July 23 and or any other letter by the police in respect of the offa robbery issue. The plaintiffs on behalf of the Senate president is also seeking the sum of N1 billion compensation for damages.
FEC MEETING
R –L: Acting President Yemi Osinbajo ; Secretary to the Governemnt of the Federation , Mr. Boss Mustapha ; Chief of Staff to the President, Mallam Abba Kyari, and Head of the Civil Service of the Federation , Mrs. Winifred Oyo-Ita, at the Federal Executive Council meeting held at the Council Chambers of the Presidential Villa , Abuja …yesterday PHOTO: GODWIN OMOIGUI
Court Clears Adeleke, Says School Cert Enough to Contest Guber Poll Yinka Kolawole in Osogbo
The Osun State High in Osogbo, the state capital, yesterday dismissed a suit challenging the eligibility of Senator Ademola Adeleke as the candidate of the Peoples Democratic Party (PDP) in the September 22 governorship election in the state. The plaintiffs, Rasheed Olabayo and Oluwaseun Idowu, who are members of the PDP in the state, had alleged that Adeleke did not possess secondary school certificate and urged the court to restrain PDP from presenting him to the Independent National Electoral Commission (INEC)
as candidate of the party. They also asked the court to restrain INEC from accepting Adeleke from PDP as its candidate on the basis that the Senator was not qualified, quoting Section 177 (d) of the 1999 Constitution. In his ruling yesterday, the court presided over by Justice David Oladimeji noted that the claims of the plaintiffs that Adeleke does not possess school certificate cannot disqualify him from contesting the election because the constitution does not state that a candidate for the office of the governor must possess a certificate. Justice Oladimeji stressed that the constitution only stipulated
that the candidate must be educated up to secondary school level, and that with the acknowledgement of the plaintiffs that the Senator attended Ede Grammar School, the senator was deemed to be educated up to the stipulated level. The court added that even though the documents submitted by Adeleke’s counsel as prove of the Senator’s education up to the required level “contains serious and damaging irregularities,” the documents are enough since the originating summon bothered strictly on none possession of certificate, and not forgery. He further noted that since
the issue of forgery was a criminal matter, the signatory to the documents, the Principal of Muslim Grammar School had to be summoned to give evidence. “It is a settled law, that the signatory has to be called to disown them (the documents) before they can be regarded as forged documents. “When a person alleges forgery, he must prove the ingredients of forgery with the particulars he relied upon. In any case, allegation of a criminal matter in a civil case must be proved beyond reasonable doubt. This case was not pleaded nor proved,” Justice Oladimeji declared.
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NEWSEXTRA
Senators Plotting to Impeach Buhari, Tinubu Alleges Akpabio formally defects to APC Onyebuchi Ezigbo in Abuja and Okon Bassey in Uyo The National Leader of the All Progressives Congress, (APC), Bola Tinubu, has alleged that some members of the National Assembly are plotting to impeach President Muhammadu Buhari. This is coming as the exSenate Minority Leader, Senator Godswill Akpabio, has formally defected from the Peoples Democratic Party (PDP) to the ruling APC. But the National Chairman of the PDP, Prince Uche Secondus, described Akpabio’s defection as unfortunate, saying he was walking against the tide, and deserves pity. Tinubu who spoke yesterday at the formal defection of Akpabio, at the Ikot Ekpene township stadium in Akwa Ibom State however, cautioned the plotters to drop their sinister move, adding that it is not “possible for a lizard to wrestle an antelope.’’ Tinubu described the current situation in the country as “a war between the progressives and the conservatives.” “We believe in government of the people, for the people and by the people; but the conservatives believe in government of sharing. We say Nigerian money belongs to Nigerians. We say Nigerians must be given development. We believe in investing in the people. “But they believe in sharing and looting the money. “Today, we are aspiring in our vision, but the Peoples Democratic Party has no vision. They believe in sharing and looting the treasury,” Tinubu said. He said Nigerians gave the Peoples Democratic Party (PDP) 16 years to rule but the party failed. “Today, Buhari says we must change; we must account for Nigeria’s money, but they are resisting.’’ “With the present posture of the state (Akwa Ibom), it “shall sweep the evil out with the broom,’’ Tinubu said. Speaking during his formal defection to the APC, Akpabio told the huge crowd that he decided to join APC because he discovered that President Muhammadu Buhari “is a man of integrity and a nationalist.” He said that he joined APC to
help salvage the country. “The country is at war and all the hands must be on deck to salvage the situation and not to aggravate it. “As keepers of national emergency, everyone should put heads together. I decided to join to emancipate the people and provide succour for the people.’’ He said that the PDP of today has no vision and the leadership is replete with arrogance. Those who defected to the PDP alongside Akpabio were two lawmakers in the state House of Assembly, Hon. Nse Ntuen representing Essien Udium state constituency and Hon Tobby Gabriel representing Etim Ekpo/Ika state constancy. Others are the state Deputy Chairman of PDP, Godswill Afangede, immediate past Secretary to the State Government, Etekamba Umoren, Deputy Inspector General of Police, Udom Ekpo Udom (rtd), just to mention the few. The defectors were received by the Acting President, Prof. Yemi Osinbajo, who was represented by the Secretary to the Government of the Federation, Boss Mustapha, the National Chairman of APC, Adams Oshiomhole and the national leader of the APC Senator Bola Tinubu. Earlier, Osinbajo said the government of APC was recommended to the people of Akwa Ibom State because it has delivered on all its promises. “We are growing the economy, security is being improved inspite of all its challenges, with Akwa Ibom coming on board things will turn around in the Niger Delta region.” He praised the defectors for joining the APC and urged those who were in the stadium to go back to their various homes and communities to sing the music of change. The national chairman of the APC, Oshiomhole, said he was excited of Senator Akpabio defection, describing his defection as uncommon defection and historic. He lauded Akpabio for the sacrificing his position as Senate Minority Leader to help Buhari build a better Nigeria, expressing optimism that the ex-governor would bring his transformatory qualities into strengthening and
PDP Holds Political Rally in Akwa Ibom Okon Bassey in Uyo The political tension in Akwa Ibom State took a new twist yesterday with the Peoples Democratic Party (PDP) staging a parallel political rally in Ikot Ekpene senatorial district, while that of the All Progressives Congress (APC) was ongoing. While the Senate Minority Leader, Senator Godswill Akpabio was being received into the APC at the Ikot Ekpene township stadium, a large group of supporters of the PDP from the senatorial district converged on the Ritman College. At the PDP rally, members denounced the defection of Akpabio and reaffirming their support for Governor Udom Emmanuel. The PDP leader in the district, Senator Emmanuel Ibok Essien, a former deputy chief whip of the senate and members of the State Executive Council from the district, said Akpabio
took unilateral decision without consulting anyone. Essien who said he was the Director General of Akpabio’s senatorial campaign, expressed dismay that the former senate minority leader took the decision to defect without the courtesy of informing him and other dignitaries in the district. He stressed that the people of the district have withdrawn their endorsement and the support they had earlier given to Akpabio. “Udom Emmanuel will be given in 2019, since we heard that Akpabio was going to defect, it has been a shameful thing to us,’’ he said. According to Essien, the defection of Akpabio is a liberation to the people of the area and Akwa Ibom State. He noted that out of the 54 appointments in the district, Akpabio got 34 appointments for the people of his local government area, Essien Udim while Ikot Ekpene LGA got only five.
He’s walking against the tide, deserves pity, says Secondus
boosting the party in the Southsouth zone. However, the PDP has described the defection of Akpabio as amounting to walking against the tide, adding that this would endanger his fine political career. Secondus said he finds it very strange that anybody would go into a sinking ship at a time every other person is finding their way out of it. A statement from the National Chairman’s media office signed by the media adviser, Ike Abonyi
said whatever caused Akpabio’s action must have been for selfpreservation and not borne out of any rational strategic political decision. The National Chairman said Senator Akpabio’s decision does not enjoy the blessing of the people of Akwa Ibom whose mandate he enjoyed for eight years as state governor and nearly four years now as a senator. “I cannot fathom any reason why on earth Akpabio should work against the tide, moving at opposite direction to a place every reasonable persons are
escaping from. “He deserves our pity because whatever would make somebody to chose bad for good is clearly one that he should be prayed for for salvation especially given the fact that wolves are waiting for his arrival to devour him. “How on earth can anybody who has his eyes wide open be seen walking into danger knowingly. Secondus lashed out at the APC, for arm-twisting and intimidating people into their drowning boat ostensibly to
ruin and disintegrate the person involved. He called on the people of Akwa Ibom to be wise and know when to turn their back from a leader directing them to danger. “I urge you to remain focused and continue to give support to your hard working Governor Emmanuel Udom as he remains unrelenting in the delivering of democracy to the people. Secondus said Nigerians had long turned their back on the APC after it became manifest that it has nothing good to offer.
CONGRATULATIONS
His Eminence, Sultan of Sokoto, Muhammadu Abubakar 111 (left), and Alhaji Ibrahim Francis Ogboro, during the turbaning of Ogboro as Dan Darman KABI, Argungu, Kebbi State …recently
NCC Blames Delay in 9mobile Sales on Accumulated Debts Says report on due diligence ready soon Emma Okonji The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof. Umar Garba Danbatta, has explained that the delay in the conclusion of the sales of 9mobile, and the possible handover of the telecoms company to Teleology Holdings Limited, the preferred bidder was as a result of the acculturated debts owed by 9mobile, which he said must be fully paid before the company could be sold out to the preferred bidder. According to him, 9mobile was indebted to the Commission at the tune of over N15 billion in Annual Operating Levy (AOL) fees and Numbering fees, which he said must be cleared according to NCC rule before approval would be given by NCC for the sale of 9mobile. Danbatta said 9mobile had initially written the commission, asking for the transfer of the shares of Emerging Markets Telecommunications Services (EMTS), now trending as 9mobile, to United Capital Trustees, the receiver-manager and the legal representative of the 13 local banks that lent money to Etisalat, now trending as 9mobile. He further explained that the NCC had told 9mobile that all the outstanding payment conditions must be met before its sales could be approved by
the NCC. He listed the conditions to include the payment of N50,000 administrative charge as well as all the accumulated debts of 9mobile. 9mobile, he said, was indebted to the Commission at the tune of N12 billion as AOL fees for 2016 and 2017; N1 billion for Numbering fees for a period of two years, as well as spectrum fees of N2.3 billion. “It is a rule in NCC that all outstanding fees must be paid before NCC must grant approval for transfer of equity from one entity to another. We asked them to pay the fees in full or make part payment as a sign of commitment before any approval will be given. 9mobile however paid 50 per cent of the total of the over N15 billion it was owing and NCC wrote an initial letter of ‘No Objection’ for the approval of the transfer of shares of EMTS to United Capital, as requested by 9mobile,” Danbatta said. He however, said there was another request from 9mobile, asking NCC to transfer the shares from United Capital to Teleology, but that NCC gave them another condition before such transfer would be effected. The condition, according to him, is that 9mobile must show NCC a clear evidence of the registration of Teleology with the Corporate Affairs Commission
(CAC), among other conditions like the conclusion of the due diligence evaluation on Teleology by the NCC, to find out the technical capabilities of Teleology to effectively handle 9mobile. Danbatta said NCC had promised to carry out due diligence on Teleology to ascertain its technical competence to buy over 9mobile and that NCC had already set up a technical committee to carry out the due diligence process in order to facilitate the process of the sales of 9mobile. “As we speak the committee has concluded its findings and the committee accepted documents from Teleology, with a view to finding the technical capability of Teleology and its corporate governance structure,” Danbatta said. “As soon as they meet the next conditions, we will again transmit the final approval letter of ‘No Rejection’ for transfer of shares from United Capital to Teleology, Danbatta further said, but insisted that before the final approval would be given, the committee must make a strong and convincing case to the NCC Board on the outcome of its technical evaluation, to grant approval for the transfer of the operational licence and the spectrum licence of 9mobile from United Capital to Teleology. The evaluation report on Teleology would soon be made
public and we are on course to conclude the process of the sales of 9mobile and we are assuring Nigerians that we will sure conclude the process if all conditions are met”, Danbatta added. He expressed surprise that NCC is being accused of frustrating the process of the sales of 9mobile, and assured Nigerians that it would not frustrate the process because it will gain nothing from doing so. Teleology had paid the initial $50 million non refundable cash deposit after it was announced the preferred bidder for 9mobile by Barclays Africa, the Financial Adviser handling the sales of 9mobile. Barclays had equally gave Teleology a window period of 90 days to pay the balance $251 million to take over 9mobile. The 90 days window elapsed June 30, 2018 without Teleology paying the money, blaming the non-payment on the delay of approval letter of ‘No Objection’ from NCC. The payment window was extended to another 20 days, which also elapsed in July 2018, without Teleology effecting the payment. Teleology had said it had already sourced the $251 million balance money and kept same in escrow account, awaiting the regulatory authorities letters from NCC and SEC before it could order its bank to effect payment.
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T H I S D AY ˾ ˜ ͷ˜ 2018
COMMENT
Editor, Editorial Page PETER ISHAKA Email peter.ishaka@thisdaylive.com
FELA ANIKULAPO KUTI IN ZIMBABWE 2018
Okello Oculi writes that the social weapon of ‘free and fair elections’ was used for effecting a political coup
F
ela Anikulapo Kuti and Plato shared a contempt for the democratic politics of their times. Fela saw its practitioners in Nigeria and most of African countries as ‘’Crazy’’. Plato classified its main activists, namely: the illiterate and labour-wracked masses as ‘’Idiots’’; being too preoccupied and exhausted by struggling to eke subsistence to have leisure and energy to study and contemplate issues of governance and public welfare. Mwalimu Nyerere was more charitable about the masses of Tanzania: regarding potential engineers, architects, surgeons and nuclear scientists hidden under dust and sweat on their bodies as a challenge for politicians to arouse through education; election campaigns, and constant dialogue with their elected representatives. In 1967, the ruling party: Tanganyika African National Union (TANU) adopted an electoral campaign process in which prohibited pollution of choices of voters through appeals to religious, ethnic, racial affinities; and offer financial inducements. Amilcar Cabral, Agustinho Neto and Robert Mugabe spent enormous efforts and succeeded in persuading villagers and urban youths to join their liberation movements and fight and kill for freedom from domination by white colonisers. In areas they ‘’liberated’’ from colonial control they built schools, health clinics, cooperative farms and industrial projects to arouse talents in local communities as ‘’freedom of deeds’’ to demonstrate frontiers of skills for life they had been denied by colonial dictatorships. Principles of Liberation Democracy in the colonising country were invoked by freedom warriors in Africa to dress its power with shame and illegitimacy. On 28th July, 2018 the masses of Zimbabwe voted for new legislators and a president. Politicians of ZANU-PF invoked memories of long years of terror- administration by European immigrants; of Shona people dying in a terrible war to wipe raw wounds of racist administration off their backs. There were also recalls of dividends from rule by Mugabe. The way he was chased out of power probably angered many of the older generation who lived through his 38 years of rule. The opposition Movement for Democratic Change (MDC) stoked memories of a 1980 massacre against the Ndebele ethnic followers of Joshua Nkomo. A white South African professor told South African Broadcasting Corporation (SABC) that the massacre was supported by Prime Minister Margaret Thatcher who hated Nkomo’s ties with the Soviet Union. The idea of a communist-backed regime next door to the rich diamond, gold and other strategic mineral resources in South Africa was a deadly threat to British financial interests. British and other Western media hid her blood-stained hands by blaming and demonising Mugabe. E.D. Mnangagwa was Mugabe’s Minister of Security at the time. That sordid history was splashed on his 2018 presidential campaign. Electoral democracy ‘’talked TRUTH
THE 2018 ELECTIONS CAME AFTER THREE DECADES OF ECONOMIC WARFARE BY THE EUROPEAN UNION AND THE UNITED STATES. THE STRATEGY WAS TO CREATE A CRITICAL MASS OF YOUTHS FRUSTRATED BY THE RESULTANT UNEMPLOYMENT; HUGE INFLATION RATES; DEEPENING POVERTY, AND A COMBATIVE GOVERNMENT THAT CHOSE TO FORCE ITS ANGRY AND FRUSTRATED YOUTH TO BE FREE FROM TEMPTATIONS TO ABANDON ECONOMIC PATRIOTISM
to power’’. ZANU-PF’s Youth Wing condemned his ties with ‘’INTERNAL TIEF-TIEFS’’ – British multinational corporations hungry for vast deposits of platinum, diamonds and other minerals in Zimbabwe. A white Rhodesian journalist wrote from exile in London that European immigrant politicians were shocked that from 1980 to 1985 Mugabe delivered a new university for his people; health clinics with free medical services in rural communities; free education and fertiliser for small scale farmers. Unlike other regimes in post-colonial Africa, Mugabe had kept faith with voters. With such a record he would remain impossible to defeat in future elections. They turned to the International Monetary Fund and the World Bank to lure Mugabe into tying ropes of ‘’Structural Adjustment Programme (SAP)’’ around the neck of his political fate. Vultures of SAP rushed to peck his political flesh, namely: protests and demonstrations by trade union members rejecting loss of jobs; students rejecting the injunction that government must not give new jobs; villagers and poor unban youths angered by stipulations that they must pay for health services; and landless millions impatient and frustrated by calls that they must wait for 10 years before land seized by European immigrants would be distributed to them. The demonstrators in urban areas wore new red T-shirts and caps paid for by European immigrants who saw the prospect of toppling ZANU-PF from power by the very people they claimed to have fought to liberate. In Zimbabwe, Liberal Democracy’s social weapon of ‘’Free and Fair Elections’’ had become a tool for effecting a political coup. Mugabe, the warrior of liberation struggle, turned to that chant made famous by President Jacob Zuma, namely: ‘’Give me my Gun!’’. The 2018 elections came after three decades of economic warfare by the European Union and the United States. The strategy was to create a critical mass of youths frustrated by the resultant unemployment; huge inflation rates; deepening poverty, and a combative government that chose to force its angry and frustrated youth to be free from temptations to abandon economic patriotism. A youth whose parents had bled to open skies blocked by European immigrants and multinational corporations had locked elbows with these same ‘’enemies’’. They had become democratically crazy. This political blindness by youths and their white allies has plagued many societies. After World War 2, British Intelligence Services rigged elections to defeat Winston Churchill and the Conservative Party in order to avoid a Communist Party financed by the Soviet Union gaining ground in British politics. In Ethiopia, the blindness of Emperor Haile Selassie drove Mengistu Haile Mariame and his team in the ‘’Derge’’ into slaughtering hundreds of top officials and aristocrats they had arrested. Blocking ‘’demoCRAZY’’ became suicidal.
EDGING THROUGH DREADED PATHS
Hadiza Bala Usman has succeeded in instituting a level of sanity at the ports, writes Chukwudi Obi
S
ince its appointment in July 2016, the Hadiza Bala Usman led management of the Nigerian Ports Authority has drawn ceaseless attention to itself.
Readers would recall that at her appointment, criticisms about her youthfulness and lack of experience in the maritime sector were rife. However, Bala Usman and her team comprising Executive Director, Finance and Administration, Mohammed Belo Koko, Executive Director, Marine and Operations, Dr. Sokonte Davies and Executive Director, Engineering and Technical Services, Prof Idris Abubukar have gallantly taken on their responsibilities achieving results that many stakeholders imagined impossible. Principal targets that the Bala Usman team set for itself include instituting a tradition of transparency in all port locations, ensuring that port locations outside Lagos become functional and seeing to it that all companies transacting business in the country operate in accordance with to the laws of the land. And the team has made tremendous progress on all of these fronts, especially as it concerns reducing corruption. There is the story for example of a company that has done a multi-million dollar business with the NPA for close to two decades. A very prominent Nigerian who holds a position of influence in this company told our reporter that payments to his company was delayed, sometimes for years anytime the organisation refused to grease the palms of people at the NPA. “And I tell you in all confidence that this was not just about any particular level of staff. It started right from the very top to the lower rung of personnel. It was either you played ball or your invoice gathered dust in their files but that changed when this management team came. All our outstanding payments were cleared and
we have since then been paid when due without having to go appease anyone. It is one of the most inspiring things that I have seen in this country in the past five God knows how many years.” But more significantly, the NPA has in the past two years taken two specific steps that have shaken the maritime sector and the Nigerian business community as a whole. What is more inspirational about these decisions is that in spite of their political undertone, Bala Usman and her team stood their grounds on the decisions, of course with the backing of the President and at the end of the day, they were vindicated, in spite all of the blackmail. After studying operations within the sector for a few months, the NPA decided that the categorisation of certain port locations in the country as specific destinations for oil and gas made no economic sense, put the country at security risk and above all, ran against the initial concession agreement between the Bureau of Public Enterprises (BPE) and the 25 terminal operators that emerged in 2004. The number came out of the 94 that were pre-qualified from 100 bids received for the three major categories of cargo that were established in accordance with practices across the globe. The categories were containerised/or container cargo; bulk cargo, multi-purpose or general cargo. These categories were specified at the inception of the exercise but it was discovered that, after the execution of the agreement, the Bureau of Public Enterprises (BPE) added a fourth categorisation which it called “oil and gas.” The NPA consequently designated the Onne Port Complex, Warri and Calabar Ports to receive oil and gas related cargoes. This unusual categorisation had drawn the attention of this administration and it sought to
uphold the liberty of importers of oil and gas cargoes to operate from any port of their choice in the spirit of free enterprise and healthy competition amongst all concessionaires. The authority consequently sought and obtained the approval of President Buhari on the reversal of this wrongful categorisation. Upon receipt of the approval, the NPA immediately reversed the exclusive oil and gas status of some terminals. All hell was let loose as all sorts of meanings including political were read into the new policy but the NPA stood its grounds and today, Nigeria can boast of dividends like the reception of the Egina FPSO, at the Lagos Ports in January 2018. The second industry shaking decision taken by the Bala Usman administration was the notice of termination of the service boat contract issued on Integrated Logistics Services Limited (Intels). The termination notice followed about 14 months of correspondence between the NPA and Intels on the need for the company to comply with all Treasury Single Account policy of the Buhari administration. Contrary to the policy that all revenue received on behalf of the government must go into the TSA, Intels has consistently held on to such sums, deducted its commission and then remitted what it considered to be the entitlement of the Nigerian government to the accounts of the NPA. The authority provided evidence that it had written Intels since June 2016 and when the company, kept bringing up excuses for its non-compliance, the NPA in October, 2017, issued a notice of termination of contract for the service boats operation. Again when the issue got into the public space, insinuations about a political undertone was rife. Even the House of Representatives got involved in the matter accusing the NPA of taking moves to scare investors from the country. Bala Usman however made it clear that contrary to specula-
tions, Intels was the one guilty of politicising the issue. She maintained that the NPA was not going to allow any company no matter how connected they are to flout the laws of the country and that the issue was only about the failure of the company to remit revenues as due. The NPA was soon vindicated when the erring company eventually wrote a letter of apology to the NPA and committed to complying with the TSA policy. On July 14, 2018, the NPA announced a 10-day suspension of the operation of four shipping lines in the country. The shipping companies including Maerskline, Cosco APS, Lansal were sanctioned for flouting the utilisation of empty containers holding bays. The authority noted that its checks revealed that these companies either failed to utilise their holding bays at all or do not have adequate capacity to handle the volume of containers that they deal with. This, according to the authority was contrary to an agreement between it and all shipping company and terminal operators, a result of which sanctions were meted out. In addition, the shipping companies were also accused of having turned the country into a dumping for containers having been found in the habit of importing a larger number of containers than empty containers exported. This action, which took the industry by surprise went a long way to show that it was no longer business as usual with the effect of beating a lot of the operators into line. So in its two years, operators in the maritime sector testify that Bala Usman and her team have instituted a level of sanity that has not existed at the ports without fear or favour. Bala Usman says she is committed to bequeathing a legacy of accountability and efficiency on the industry and stakeholders would tell you that the NPA is very much on its way to the accomplishment of same. Obi wrote from Lagos
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T H I S D AY THURSDAY, AUGUST 9, 2018
EDITORIAL FASHOLA VERSUS ELECTRICITY DISCOS All the stakeholders should work towards resolving the power problem
A
fter several months of giving excuses on behalf of the 11 electricity distribution companies (Discos), the Minister of Power, Works and Housing, Mr. Babatunde Fashola, last week practically called them out over inability to live up to expectations, particularly with reference to metering the consumers under their networks as well as their reported unwillingness to receive electricity from the generating companies. But in the fight between Fashola and the Discos, what concerns Nigerians is not the abuses or exchange of angry words between both parties but rather electricity service delivery which unfortunately is still notoriously very poor. While we accept that sound economic developments do not happen overnight, we must also state that Nigerians anticipated better outcomes than what they are seeing today five years after the privatisation of the sector. Based on the letters of the agreements the government signed with the Discos in 2013 before they took over, and the efficiency levels of WE MAY NEED TO REMIND FASHOLA AND the assets now in their fifth year of operation, THE DISCOS THAT THE we are convinced REAL FIGHT SHOULD BE that there is still a lot IN THE OPERATIONAL more to be done to FIELDS SO THEY CAN get anywhere near FIND SOLUTIONS TO THE efficient electricity MANY PROBLEMS THAT service delivery, and that both parties have AFFLICT THE SECTOR nonetheless failed in their responsibilities to the Nigerian people. The Discos claim that the federal government has continued to frustrate their operations with politicallymotivated policies. They allege being forced to operate without cost-reflective tariff for more than three years; railroaded to accepting in their balance sheets certain legacy debts (gas debt) carried over from the defunct PHCN days as against the government offsetting
Letters to the Editor
them and most importantly, that the industry regulator is more an appendage of the Power Ministry with little or no say in how the sector should run. However, we may need to remind Fashola and the Discos that the real fight they should be getting into now should be in the operational fields so they can find solutions to the many problems that afflict the sector which are manmade and solvable. Asking the Discos to quit, as Fashola publicly did, will not resolve the problems, neither will the threat by the Discos to return the assets to the government. What will most likely solve the problem is collaboration.
U 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
nfortunately, both parties have largely been combative in their relationship. They need to accept wholeheartedly that the challenges of the sector are not just the responsibility of one party and that the earlier they get down to work on credible solutions to them, the better for Nigeria. They also need to understand that asking just one party to consistently bend backwards will not work as everybody must be willing and able to make sacrifices for the good of all. We want an end to this seemingly unending brickbat in the sector, and would like to see all parties being alert to their jobs - the NERC becoming independent in all its roles in the sector; the government taking its own share of obligations to the sector; the Discos meeting all the service level agreements they signed up to in the sector; and of course the Gencos producing power for the TCN to transmit to the Discos for use by Nigerians. Until these happen, there will continue to be crisis in the sector to the detriment of the people. Finally, based on existing operational status report of the sector where the government has claimed the Discos owe the Nigerian Bulk Electricity Trading Plc (NBET) over N500 billion and the Discos in turn alleging the tariff gap which is the gap in excess of N1.3 trillion, we will like to remind all parties that this sector is already on the brink hence there is an urgent need to save it from imminent collapse.
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.
DAURA: THE RISE OF WATCH-DOG CITIZENS
T
he emergence of hailers and wailers after the 2015 elections in Nigeria polity has birthed a new watchdog mechanism owned and managed by the people to hold government accountable. With the use of social media networks especially the twitter, it has become ever so easy to draw attention of leaders to issues. It has also become easy to direct attention of international community on state of affairs of our dear nation whenever necessary. It is therefore instructive to intimate that going forward, it won’t be an easy ride on the horse of impunity for anybody or group of people ruling Nigeria. It may not take too long before democratic practice in Nigeria tunes itself towards Abraham Lincoln’s definition “…for the people and by the people”. The recent victory claimed by ordinary Nigerians against invasion by men of the Department of States Services (DSS) on the National Assembly (NASS) has shown that power is gradually tilting to the people. Videos, pictures, analysis from the NASS fiasco flew from Nigeria, to the world with spontaneous reactions denouncing the commando-style attack at the citadel of Nigeria’s democratic institution. The sacking of the Director-General of the DSS, Lawal Daura is a popular victory for the people against impunity. Under the present administration, the masses have been able to secure some victories, top among them is the sacking of Babachir Lawal for alleged stealing of money meant for Internally Displaced Persons, the exit of Ayodele Oke, Nigeria’s ex – spy chief over $43.5m affair, and the sacking of reinstated
Maina over corruption. Presently hanging from the fulcrum of impunity is the embarrassing NYSC certificate forgery of Kemi Adeosun, Minister of Finance, MTN bribery allegation, the N28bn ecological fund, amongst myriads of other embarrassing behaviours by officials under Buhari. Every sensible, patriotic Nigerian has become a whistle blower. Prominent Nigerians in top government positions now take up happenings limited only to the common people in social media circles to curry goodwill from online activists for political solvency. The case of the Nigerian hero who lost his life saving 13-boat mishap victims caught attention of the senate president, the state governor and many others. It will not come as a surprise if the presidency decides to salute his sacrifice. The power of the people via social media has come to stay. There is no hiding place for politicians, the fear of the growing power of the people will translate to better leadership with time. The present administration is not an easy nut to crack despite the cyber-based uprising. It takes ocean of tears and thunderous wailing to move them to action. Circumstances of crass financial aberration by PMB appointees often take forever before actions are taken. The trend however has emerged where Nigerians no longer sweep issues under the carpet. The watch – dog trend has largely helped in frustrating the coup against NASS leadership, where Saraki was the prime target. Nigerians counted down to the invasion. The script was played as analysed, making it very easy for ordinary Nigerians to intercept, and dissipate the anti-democratic act. For Daura who has a record of
over 300 people in detention without trial, storming the NASS is the least difficult task. For a man who held journalist Abiri, Islamic Movement of Nigeria (IMN) leader, El-Zakzaki, Sambo Dasuki in the DSS gulag, invaded homes of judges, power was his food, impunity his character. He was however stabbed by the system he served so diligently and gullibly. The vice-president may receive all the accolades for removing one of the dreaded relatives of PMB from position of power; the truth is, the Napoleon who unleashed him is the same person who cut him off, when it was politically expedient to do so. Daura was an unusual expendable deployed to douse an international embarrassment for PMB who was holidaying in London. They had to brutally call off their attack dog to spare nasty international incidence. They will apologise to him, give him some stuffs he cannot refuse afterwards. Daura is in this mess only because his own side of the attack mission, which would have led to other chain of events, failed bitterly under the watchful eyes of patriotic Nigerians. Going forward, Nigerians will rid themselves of incompetent leaders through online sustained citizens’ platforms. Ambitions of political jokes posing as patriots will be shelved for fear of the scrutiny of vengeful citizens competently using their hard-earned mobile data to alert the world of bad governance. The ballots may be rigged, godfathers may be weaning their offspring’s for leadership positions but Nigerians will determine how long that will continue as the power to hire and fire is gradually coming to the hands of the people. Israel A. Ebije, ebijeo5@gmail.com
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THURSDAY AUGUST 9, 2018 ˾ T H I S D AY
NEWSEXTRA
Power Ministry to Take over Payment of MDAs’ Monthly Electricity Bills Fashola to hold talks with military over accumulated bills Chineme Okafor in Abuja As part of the efforts to ensure that all Ministries, Departments and Agencies (MDAs) of the government do not accumulate more debts from electricity supplied to them, the federal government has approved that the ministry of power takes charge of the payment of their monthly electricity bills to the electricity distribution companies (Discos). The Minister of Power, Works and Housing, Mr. Babatunde Fashola, has also disclosed that he was in talks with the military authorities, which he described as one of the Discos’ most notorious debtors. The federal government, according to Fashola, has initiated a mechanism, which would ensure that payments of monthly electricity bills of its MDAs are centralised and managed by the power ministry. The minister, who spoke yesterday at the flag-off of the second phase of the mass metering scheme, involving 222,780 meters by the Abuja Disco, hinted that such measure
was under consideration for adoption and implementation following the discovery that the MDAs owed billions of naira to the Discos as unpaid electricity bills. Fashola, who was represented by the Director of Distribution in the ministry, Mrs. Briskilla Sapke, said the measure would bring to an end the reoccurring incidences of MDAs not paying for electricity supplied to them even when funds for such are included in their budgets. “MDAs Debt is reoccurring, and we are working out a mechanism to bring this to past. This mechanism will ensure that MDAs payment are centralised with the ministry of power,” said Fashola, who also disclosed that he was in talks with one of the Discos’ most notorious debtors, the military. He explained he had meetings with the military and other security agencies who owe the Discos for electricity supplies, and who have reportedly refused to be metered or expectedly cut off from supplies. He noted he impressed it
on them the need to allow the Discos provide meters at their various formations and barracks, as well as making payments for power they consume, adding that the military has agreed to have meters installed at their formations. In his remarks, the Managing Director of Abuja Disco, Mr. Ernest Mupwaya, explained the Disco would spend N10 billion to execute the second phase of its mass metering programme, and that the meters would come with artificial intelligence components to detect theft of electricity through bypass on them. Mupwaya, noted that
the new measure would make it difficult for theft of electricity at places the Disco would deploy the meter. He also said transformers of the Disco were being fitted with similar artificial intelligence components for consumers still on estimated billing methods. “Those who resort to electricity theft, I think their days are numbered. The meters we are installing right now, our inspectors even at a distance of 100 kilometres, they can interrogate the meter. At night they can switch off momentarily the supply and if they see the lights are still on, then they know there could be a cable which has not passed through meters. Those are the
measures we have put in place to safeguard investments,” said Mupwaya. He noted that by the deployment of the 222,780 meters, the Disco would have cut down its metering gap to about 250,000 considering that it reportedly inherited a metering gap of about 450,000. Mupwaya however noted that new connections to the network would be captured. Speaking on the losses the Disco records from electricity theft and other operational challenges, Mupwaya said: “The losses are real because what is happening is where we don’t have meters, it is difficult to convince customers to pay because of estimated
billing system, and you find that there are low payment levels. When you calculate the amount of energy you have supplied and how much you have realised, you see that the gaps are very high.” “The losses are real. We are conducting a regulated business, so there is transparency in the way we manage the business. They check our books - the Bureau of Public Enterprises, in fact, the regulator has to put a provision of how much we make, they check that the expenditures are prudent. “It is on the basis of that information that it is a common knowledge that areas where we have few meters, the losses are huge.”
Police Absolve Dangote Transport Company in Truck Accident The Nigeria Police, in a report have absolved the Dangote Transport Company of any fault in a fatal accident involving one of its Howo trucks, which collided with an 18-seater Toyota bus belonging to the Gombe State Transport Company, at Gazok village, Farin-Lamba, Vwang District on Jos South Local Government Area, Plateau State, on August 3. According to the police findings, “The primary cause of the accident was due to mechanical fault which could be as a result of poor maintenance attitude from the driver of the Toyota bus.” As a result of the accident, eight persons lost their lives while ten others sustained various forms of injuries. The outcome was contained in a two-page Police investigation report sent by the Nigeria Police, Divisional Vom Division, Jos, Plateau State, to the Head of Operations (HOO), Dangote Cement Transport Company, Gboko Plant, Benue State, which was signed by the Divisional Police Officer, Kaduna-Vom Division, CSP Abubakar A. Omade. According to the report, “From investigation carried out, the following facts emerge: That the two vehicles were travelling in opposite direction, with the Howo truck coming from Farin Lamba axis while the Toyota bus was coming from Riyom L.G.A. “That at Gazok village, the right back tyre of the Toyota bus burst, forcing the driver to lose control, veered to the opposite lane and had collision with the Howo truck. That after the collision with the Toyota bus, the Howo truck went and crushed a Boxer Bajaj motorcycle parked by
the road side. “That as a result of the mishap, eight persons as listed above lost their lives and 10 others sustained various degrees of injuries. That on the request of the deceased relations and considering the bad condition of the corpses, they were all released to their various relations for burial. “Opinion/Conclusion: In view of the above, it could be seen that the primary cause of the accident was due to mechanical fault which could be as a result of poor maintenance attitude from the driver of the Toyota bus. If he had survived the accident, he will be charged to court for reckless/dangerous driving and poor maintenance culture contrary to Section 28 and 40 respectively of the Road Traffic Act (R.T.A.) But unfortunately, he lost his life in the accident which makes it difficult for him to be prosecuted in the court.” Omade added. In an earlier release, the DTC had noted that “the accident happened at Vom, an outskirt village to Jos on August 3. According to our driver and the police, an oncoming bus had a burst tyre and lost control. The bus left its lane and hit our truck which was on its own lane. The truck is GBK-2C-016 DUT81XA, which was empty from Gombe depot. “We sent our men to the police station and they met the IPO, Mr. John, and the DPO. According to the IPO, the police report will be released when they meet the owner of the bus. They will be going to Keffi to locate the bus owner because they said no one from the third party reported the case up till now except us,” the company added.
FOR BETTER RAIL TRANSPORT
L-R: Mbim Okutinyang of Etteharo and Partners (EA&P); Managing Director/Chief Executive Officer (CEO), Nigerian Railway Corporation (NRC), Fidet Okhiria, and Manging Director/CEO, Port Notel Limited, Victor Akpanika, shortly after a meeting in NRC corporate headquarters in Lagos …recently
FG Approves $150m Loan for Polio Eradication N348.594bn for Akwanga-Jos-Bauchi-Gombe road Omololu Ogunmade in Abuja The federal government yesterday in Abuja approved N348.594 billion for the construction of Akwanga-Jos-Bauchi-Gombe road and another $150 million credit facility to aid federal government’s effort in polio eradication. Briefing journalists at the end of the Federal Executive Council
(FEC) meeting, the Minister of Finance, Mrs. Kemi Adeosun, said the proposed $150 million credit facility would be the third additional financing that would build upon substantial past investments. Adeosun, who said the past investments had paid off, added that the country was now on the verge of polio eradication,
explaining that the objective of the project was to assist the federal government with the facility as part of global polio eradication moves. According to her, the country had achieved and sustained at least 80 percent coverage on oral polio vaccine (OPV) immunisation in every state of the country and consequently improved routine
immunisation. Adeosun, who said the project would be implemented in 12 lagging states of Adamawa, Bayelsa, Gombe, Jigawa, Katsina, Kogi, Nasarawa, Niger, Plateau, Taraba and Zamfara, added that the project would be coordinated by National Primary Health Care Development Agency (NPHCDA) at the federal level.
APC Makes U-Turn, Justifies DSS Siege to N’Assembly is a matter of public record, we still believe that the legislature as an independent arm of government must be allowed free reign for vibrant contestation of ideas and values amongst its members within the context of their constitutional mandate and for the benefit of the Nigerian people. “Finally, we reiterate our call for the Senate president to resign from the position immediately as he no longer has the moral and legitimate ground to occupy that position as a member of the minority PDP. Going by the popular axiom, the majority will have their way, but the minority will have their say,” it said. However in a swift reaction, the PDP said the presidency and
the APC were being haunted by their guilt, following the barrage of national and international indignation against them over their failed attempt to illegally takeover the National Assembly on Tuesday. The PDP said with the failure of the presidency and the APC to sway the public with the sack of the Director General of the DSS, Lawal Daura, they have become schizophrenic in their bid to politicise the invasion, while further exposing their culpability in the sordid act. In a statement issued yesterday by its National Publicity Secretary, Kola Ologbondiyan, the main opposition party said APC’s jaundiced reasoning and penchant for deceit knows no
bound. “Is it not schizophrenic for the APC, in its statement, a day after the invasion, to accuse Saraki of triggering security issues at the National Assembly, when the presidency had already ‘found’ DSS Director General wanting and summarily sacked him for the invasion? “How can the APC accuse Saraki of causing security concerns by ‘reconvening’ the National Assembly, when it is public knowledge that the National Assembly has not been reconvened, despite the pressure by the factional National Chairman of the APC, Adams Oshiomhole, the Special Adviser to the President on National Assembly Matters, Senator Ita
Enang and Senator Ahmed Lawan on the leadership of the Senate to reconvene?” “Is it not revealing that the APC, in alleging that the Senate president ‘reconvened’ the Senate as a pre-emptive move to frustrate federal lawmakers’ move to impeach him, unwittingly exposed their plot to cause violence and illegally take over the Senate?” PDP further said that APC, in its statement has finally vindicated its position regarding its plans to stampede the Senate president to reopen the National Assembly wherein it will unleash thugs and security agencies to trigger violence, overwhelm the legislature and forcefully take over the leadership of the Senate.
T H I S D AY ˾ THURSDAY AUGUST 9, 2018
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T H I S D AY • THURSDAY, AUGUST 9, 2018
POLITICS
Group Politics Editor NSEOBONG OKON-EKONG Email nseobong.okonekong@thisdaylive.com 08114495324 SMS ONLY
PERSONALITY INTERVIEW
‘We Don’t Stop Prosecution Because a Suspect Crossed to APC’ Minister of Information recently fielded questions from a group of journalists in Lagos. Nseobong OkonEkong reports
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as the APC expecting the gale of defection or it took the party by surprise? Anybody who has been a close observer of this political landscape should not be taken aback by the defections. I think that it even came so late. A Yoruba adage says, ‘If we build a house on spittle, the first fog will demolish it.’ The foundation for what you see today was laid the day the Senate President forced himself on the party as Senate President. Traditionally, it is the party’s prerogative to decide presiding officers in the two houses. Here we were met with a fait accompli when Dr. Bukola Saraki, against the wishes of the party, did the unthinkable by aligning with the opposition and making them an offer they could not refuse. I can’t quite remember the number but in a situation whereby almost the entire 40 plus Senators in PDP voted for him, he needed only a minority from the APC. So we were all waiting for Mr. President to come and address us on this issue at the International Conference Centre and it was announced that he (Bukola) had emerged as the Senate President. From that day, we knew we had two problems. Number One, we had a Senate President who imposed himself on the party and to make it worse as an insurance, he arranged for an opposition person to be Deputy Senate President and that makes it impossible for us to remove him. ‘If you remove me, you are going to have a PDP Senate President’. I think from that day we had a problem. Of course, you could see the behaviour of the National Assembly since then. We have a National Assembly in which we had a clear majority in both houses but which treated the Executive with contempt and who actually slowed down the work of government. In 2016, 2017 and 2018, our budgets were delayed. We can understand 2015 budget because we came in, in the middle of the year. But 2016, 2017, the earliest we got our budgets was June. Key appointments, nominations and confirmations for key organisations that could move the government forward like the CBN, like the NDIC, were delayed. Really, it couldn’t have been worse if the PDP had a majority in the National Assembly. Some are also blaming the APC for its refusal to zone those positions before and after the elections were won and lost. Others are of the view that those who are members of the APC today arranged with former Speaker Aminu Tambuwal to go against its party’s decision in 2011. You should have expected what happened in 2015? It is not exactly the same thing. In 2011, there were two aspirants from the PDP. Each of them knew that they needed the opposition to emerge. So the kind of horse-trading that took place in 2011 is normal in any democracy since the party did not succeed in getting one candidate. When they approached us, we looked at the offer and we believed that the other party didn’t do as much. What we did in 2011 in helping him to come to power was a normal thing in a democracy because once you don’t have absolute majority, you would need the support of other smaller parties. In 2011, we were the biggest minority in the House of Reps. The difference is this. Tambuwal did not destroy his party in the process. He didn’t offer Gbajabiamila Deputy Speaker, that is the difference. In our own case, we tried to get all parties together, we called meetings which were boycotted by their group and at the end of the day when we realised this thing was getting so bad, Mr. President was to address all of us. We were waiting for Mr. President to come with majority of our Senators when it (Saraki’s emergence as Senate President) was announced. It is not the same thing.
bud in Kwara.Today, there is relative peace. We have been able to recover all territories. No inch of Nigerian territory is under the Boko Haram control. Yes, there have been suicide bombings, that is what terrorism is all about. A couple of weeks ago in US, we saw terrorist attack. About a month or two months ago, we saw what happened in Texas. Terrorists killed many children. This is not a sign of renewed threat rather it is a sign of desperation and weakness. Compare the regularity it used to occur before and now. It is all about intelligence gathering. Yes you would talk about herdsmen-farmer clashes, was it not something we inherited? The first farmers-herders’ clash was in 1947 even before Nigeria became independent but over the years we have been able to manage it. What has aggravated the farmers-herders’ clash today is the government’s position, its stand on fighting corruption.
Mohammed
So does your government want Saraki removed or it is just a party affair? The Chairman of the party has asked him to resign. What is the difference between Tambuwal’s defection in December 2014 and Saraki’s defection this time? At that time you issued a statement as party spokesman that it was justifiable and he did not have to resign. Now the party is asking Saraki to resign? You see in 2014, the political climate was completely different. By 2013, three major political parties and factions of two had collapsed into a new party. We had ANPP, CPC and ACN and a faction of APGA that came together to become a new party. In 2014, there were internal wrangling within the PDP and they decided to defect to meet us in APC. Even now nobody is saying people can’t defect. Mr. President said it that many
The suspects arrested for killing those priests were not Fulani herdsmen. They were militia men from Benue State. Politicians are afraid that if Buhari is reelected, they would end up in jail and they are now fueling this herdsmen crisis especially in Benue state
of the people who defected did so for selfish purposes because many of them want to come back to the National Assembly but many of them too when they were coming reached understanding with their local people. You know a Senator sometime represents up to 10 local governments. There are some unwritten rules that if this side of the Senatorial district produces a Senator for four years, it has to go to the other side in another four years. So many of them are facing re-election problem because they can’t go back to their constituency and say they want to run again. If you are going to do a primary to be a Senator and you have agreed that it has to come from Shomolu this time around and Mushin says it wants it, they will tell Mushin it can’t get it and they won’t vote for it. So there are so many reasons why some of them defected and probably they can get the ticket in another party. Defection is as old as politics itself even in the First Republic. The fundamental thing is that, it would have been better that they left a long time earlier because they have strangulated this government for too long. When you are now being betrayed by your own party, it is more painful because we can’t fight back as much as we want to fight back. Why should Nigerians trust you with governance for another four years? We have delivered on all promises. We promised to fight insecurity. At that time, the major threat to our corporate existence was the Boko Haram insurgency. Despite what anybody says, we have decimated Boko Haram. When we came in on May 29, 2015, 24 local governments in the North East, an area three times the size of Lebanon, were under the effective control of Boko Haram and what this means was that they were running the administration. As a matter of fact, once we got to Maiduguri, that was the end of Bornu State. If you move outside, either to Kaure, Konduga or Bama, they were under the control of Boko Haram. By 2014, 2015, nobody in Abuja could sleep with his two eyes closed. They came and attacked THISDAY Newspapers headquarters with casualties, they attacked the UN Headquarters, they attacked the IGP’s office, Nyanya Park was bombed twice, they were active in Suleja, Kaduna, Sokoto, Plateau, Nasarrawa, Kogi. As a matter of fact, there was hardly any state in the North that Boko Haram was not operating. It was nipped in the
How? We found out that in Benue State in particular that some people facing corruption charges are the ones that have armed militia. Is it not interesting that Terkula that was arrested is actually a government appointee? And since his arrest, these killings have gone down. The suspects arrested for killing those priests were not Fulani herdsmen. They were militia men from Benue State. Politicians are afraid that if Buhari is re-elected, they would end up in jail and they are now fueling this herdsmen crisis especially in Benue state. What about Zamfara? Zamfara is a very interesting state. It is a clear example that these killings are neither ethnic nor religious in nature. It is pure criminality because the cattle rustlers are Muslims and Fulanis themselves and the victims also are Muslim and Fulani. So, how can you talk about ethnicity or religion here? The truth of the matter is that when there is trouble along the Sahel- Mali, Libya, Chad, Niger, you can just go across the border and buy AK-47 for about maybe $200. These criminals are now very well armed, well equipped. It is about the economy, cattle rustling. Zamfara is a very good example that this thing is not religious ditto in Kebbi. In Kebbi state, the governor said 70 per cent of all the inmates in Kebbi prisons are there because of farmers-herders’ clashes yet the farmers in Kebbi are Muslims and Fulani and the herdsmen are Muslim-Fulani. There are other reasons, apart from sheer criminality and political instigation, which are even more genuine. What about demography? What about Climate Change? Nigeria had 45 million people when we became independent in 1960. Today, we are 190 million people. It is about the struggle for resources. Secondly, Lake Chad was 25,000 square metre surface area in 1963. The same Lake Chad has shrunk today to 2,500 square metre yet Lake Chad was supporting 35 million lives from Nigeria, Central African Republic, Benin, Chad, Niger and Cameroun. Those 35 million people were using that water to fish, farm and do irrigation. There used to be about 3000 different types of fish in Lake Chad, it has now shrunk to about 500. It is about resources that are dwindling combined with population explosion and of course criminality. The good thing is that we are looking at this problem in a more holistic manner than people want to know and that is why Nigeria has hosted twice the Conference of Lake Chad Basin countries. The only solution is to reflate the Lake and we are talking to all the countries. It is very expensive but it is the only way out. Until more water is brought back into the Lake Chad, we will continue to have this problem. When you look NOTE: Interested readers should continue in the online edition on www.thisdaylive.com
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POLITICS
‘There’s No One Who Can Match the Electoral Value of Buhari’ Iyobisa Uwugiaren was with a group of journalists in Abuja who interacted with Hon. Abdulmumin Jibrin, a member of the House of Representatives
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o you think defection of some members of your party, the APC, would affect its performance in the forthcoming general elections? If the APC presents another candidate other than President Buhari, I would have been a bit jittery; but there is this consensus within the party, and we are just waiting for the timetable to do the formalities and adopt Buhari, as the candidate. With Mr. President as the candidate of the APC, we are not threatened by all the people leaving the party. For so many reasons, we are so lucky that we have Comrade Adams Oshiomhole as the chairman of the party. He has been doing extremely well; he has been reaching out to everyone, holding series of meetings, and persuading people to stay. During election period, these problems are normal. It is not unique to APC. That was the case in 2011, 2007, and 2015. When there is a build-up to the general elections, you have these kind of problems. To say that the APC would disintegrate or crumble is absolutely false. As people are going, people are also coming in. It is big news that people are leaving the ruling party. A lot of other people from the opposition are coming to our party. At the moment, not less than four to five PDP governors are working in across-the-party arrangement; working to support the APC. There has been a lot of inflow from the South-east. You have people like Orji Uzo Kalu and a lot of prominent people in the South-east that are coming. They also understand that it is an opportunity for the South-east to put up a good show for the APC and stand a chance of competing for the presidency, after Buhari
naturally connected with the masses. Nothing has tampered with that. Buhari is a man of the masses, particularly in the North-central where he has a stronghold. Those who are against Buhari in this country are just a section of the elites. They don’t have any electoral value. The next election would be an election of that section of the elites versus the masses.
Jibrin
serves his second term. And you are not jittery that it may bounce back- as it did to the PDP in 2015? I am not jittering for some reasons. There are certain things that will help the APC to retain power and ensure that President Buhari wins. He has massive electoral value and his stronghold states are still there like Sokoto, Kebbi, Zamfara, Kano, Kaduna, Jigawa, Katsina, Borno, Yobe, Adamawa, Plateau, Kogi, and, of course, the South-west is a no-go area. This is because they have positioned themselves to take the presidency after 2022; so they don’t
want to make any mistake about that. Do you hear any party making any noise in the South-west? Lagos, Ondo, Ekiti, Osun, Ogun, and Oyo are all for Buhari. Edo is already there; in Delta, we are making a significant move, and very soon you would hear a lot of people that would decamp into the party. You know we lost Rivers state just by a whisker; we have the likes of Amaechi and Peter Dakuku and I can assure you that Rivers would also come home. The APC is standing firm and President Buhari is also standing firm. The President is
Many people believe President Buhari has not done well in the area of good governance. What is your take on that? On good governance, Buhari has done tremendously well. The reality of the matter is that the capacity of Buhari setting up a team, giving power to the Central Bank, giving power to the Ministry of Finance, setting up a crack economic team to battle the economic recession that would have brought Nigeria to ground zero, is enough for Buhari to contest the next election. That was what gave Obama a second term when he came back in 2012. After the economic crisis of 2008, Obama was able to bring USA back on board. When that happened, it was all he used to get his re-election. People are suffering and it isn’t Buhari’s fault. The previous government didn’t save, and this country relies on crude, which determines the value of our currency and the foreign reserve of our country. By the time crude went down, there were no savings. When Buhari came, crude oil price went down and he went into the purse of the country and discovered that the government didn’t save. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com
Crisis in Delta APC Will be Over Soon Chief O’tega Emerhor, the Delta state leader of the All Progressives Congress spoke to Segun James on the crisis rocking the party in the state
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uring the last national convention of the APC, Delta state delegates were involved in a show of shame that resulted in fisticuffs. How did things get so bad? What happened during the convention in Abuja was unfortunate. As the leader of the mainstream APC in Delta state, I am traumatised. We have since tendered our apologies to the President and the leadership of the party. There are two factions of the APC in Delta state. We are the mainstream; the Great Ogboru and Ovie Omo-Agege faction have refused to integrate with us since they joined the party midstream. I welcomed them to the APC in 2016. That is the truth. But during the last congresses held in the state, they refused to work with us; instead they did their own parallel congress. But we worked with the committee that was sent by the national working committee to conduct the congress; and our congresses were approved and our chairman, Chief Cyril Ogodo was sworn in by the National Working Committee led by Chief John Oyegun; that was the situation before the convention. It was this NWC that conducted the national congress and the state delegates were supposed to come from us, but situation changed when Senator Omo-Agege was made the secretary of the accreditation committee. He seized that opportunity to abuse his powers by bringing in other people to the convention from his parallel congress to supplant us. The crisis at the convention actually started outside the venue where we were attacked and some of our delegates were injured. These people who were not delegates, were moved into the venue by Omo-Agege, but we managed to get the intervention of the organisers of the convention who had the list of the authentic
Emerhor
delegates; finally, we came in. But there was one pavilion per state, so as we approached the Delta state pavilion, we found that they were already seated. As soon as they saw us, because they were already seated, eating and drinking, they started stoning us with those objects; that was what caused the commotion. It was very embarrassing and did not portray the state in good light. What followed after that? They went to the national leadership of the party to accuse us of causing the commotion. They said that we brought thugs to the convention ground, which is not true; they even wrote a petition against us to the party and the presidency to say we started the fight which is also not true because we comported ourselves. After the fight was settled, our people were given another area to sit; eventually, they ran away because they were not the proper
delegates to the convention. This happened after the Governor of Kogi state announced that all those who are not accredited should leave the venue. Eventually we voted as the authentic delegation. But since then, they have been fomenting crisis here and there. They even went to the court to obtain a consent judgment. While a consent judgment is supposed to involve all parties in the dispute, they somehow got a judgment through the legal department of the APC which agreed with them that their congress was the correct one. We protested. Chief Oyegun who was the chairman at that period was angry at their action. In fact he came to the court to dispute their claim because he was the one who swore in Ogodo and other state chairmen; but after the convention and the new chairman resumed, the settled situation was resurrected. That is the confusion that we now have. A consent judgment that was disowned by the NWC is now being recognised. Only last week, they swore in a supposed new party executive in the state even though the one that was sworn in by the last NWC is still subsisting. Now we have two parallel excos in Delta state which we pointed out was wrong and will not augur well for the party. Following the confusion, the national chairman, Comrade Adams Oshiomhole has called on both sides to come to Abuja to discuss the issues and find a solution. We look forward to this settlement. The truth is, if we don’t come together, there is no way we can win the state. Before the crisis, we opened our doors to the Ogboru/ Omo-Agege group to come in and work together with us. But when they joined us, they decided to stay outside; they refused to integrate into the mainstream. The truth is that they needed to take the party structure from us if Ogboru is to realise his ambition of becoming the governor.
But you don’t need to take the structure before you can compete; after all, there is going to be a primary in which everybody that is interested will participate including him. Can the party compete with the PDP in the state if elections are held now? Whatever is happening now in the Delta APC is temporary. The national chairman and the NWC have taken the initiative, this whole thing is going to be resolved and we are all going to come together. But the truth is that some of us believe that since there is a zoning structure, we have to be pragmatic in dealing with any situation if we must win. Both the Delta central and the Delta south senatorial districts have done eight years each in governing the state. Some of us believe that it would make it easier for the party to win if we get our governorship candidate from the north like the PDP where Governor Ifeayi Okowa has only done four years. You know that the governorship is rotated among the three senatorial zones. But the Ogburu group believes they are entitled to contest the governorship even though he is from the central which took the first shot with Governor James Ibori. We know that he is entitled to contest since the contest is open to everyone; but we still need a strategy to win. He believes he is popular in the state –zoning or not. To me, we will be having a level playing field for everyone to compete just as it was done in the Osun state APC primaries. Let every party member vote and if it is Ogboru that wins, we will all support him; but if it is somebody from the north, we hope he will support that person. 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
Five Decades of Hope for the Blind Ayodeji Ake, who recently spent a day with students of the Pacelli School for the Blind and Partially Sighted, writes that in over five decades, the school has kept faith with the promise of providing for the educational needs of the visually-impaired
The 15 gradaunts and their religious leaders at the recent graduation ceremony
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or over five decades, the Pacelli School for the blind and partially sighted children has kept faith with their promise to cater to every stream of visually impaired children that are admitted. Located at the Surulere area of Lagos, the school has over the years proven that it’s one of the best schools for the visually impaired children in Nigeria. Established by the Catholic Archdiocese of Lagos on the June 16, 1962, its operation has spanned 56 years with a present population of 140 students and staff strength of 45. It’s a non-fee paying institution and co-educational boarding school. Pacelli School for the blind is funded partly through religious bodies and donations from cooperate organisations, companies, schools and individuals. The structure of the school is from primary basic one through basic six and preparatory classes. It also has a rehabilitation programme where students from secondary schools are engaged in training that will assist them to be self-reliant.
Graduation
Recently, 15 students of the school graduated from primary to secondary schools. In their honour, the school organised an elaborate ceremony and exhibition. At the graduation ceremony which took place within the school facility in Lagos, the Principal, Sister Jane Onyeneri, expressed joy over the student’s ability to showcase some of their products, such as; tie and dye,
flower vases, table mats, necklaces, handbags, key holders and lot more., as she commended the Lagos State Governor and other corporate bodies for their unending support. Onyeneri said, “The school has recorded some achievements; a brand new 30-Seater Coaster bus by the Lagos State Governor, Akinwunmi Ambode, renovation of three classrooms and a dining hall by the Tectonic Oil Tools Ltd; Mayday Samaritan Foundation in collaboration with Lipoid Stifting renovated the school kitchen, furnished the Braille room and administrative office. Also, six students received first Holy Communion while 15 received
Our greatest challenge is paying of staff salaries, upkeep and maintenance of the school. We also have the problem of flooding. Whenever it rains, the students cannot attend classes or go to the dining hall to eat
Baptism and first Holy Communion. Education wise, Pacelli School students came first on July 10, 2018, in the interactive quiz competition between inclusive and special primary schools in Lagos state, organised by LASODA at Alausa, Ikeja.” Charging the graduating students, the principal encouraged them to be of best behaviour as ambassadors of the school and not to be discouraged by their disability. She said, “I admonish you to be good ambassadors and always make us proud through spiritual and academic excellence. I urge you to be law abiding, respectful and make sure you go to church and get involved in the church activities. I also want to remind you to be conscious of their academic pursuit. You will have challenges but I implore you to handle it in a mature way and always seek for advice from good people around you. We have taught you not to allow people to take advantage of you. “I thank God for their lives and for making them to witness this memorable day in your life. It’s often said that a journey of a million mile begins with a step. They have started and reached the end of a rigorous academic and vocational training. The school is graduating 15 of them and some have spent six or seven years here. May God’s Holy name be praise. I’m happy to announce to you that they have all been admitted to the school of their choice such as Queens and Kings College in Lagos, and Model College Agbowa in Ikorodu, Lagos.”
Challenges
Speaking on challenges facing the school, Onyeneri said issues like perennial flooding and funds to pay staff given that it’s a school that runs on pro bono basis, had been a burden. She pleaded for support from individuals, government and corporate bodies. She said, “Our greatest challenge is paying of staff salaries, upkeep and maintenance of the school. We also have the problem of flooding. Whenever it rains, the students cannot attend classes or go to the dining hall to eat. We use this opportunity to thank Governor Akinwunmi Ambode for sending two groups of engineers who came and checked on the issue of frequent flooding in the school compound, but we have no feedback from them since then. We are hoping to get positive feedback from the engineers. “The school is appealing to the federal government, friends, benefactors, parents and guardians for some of our pressing need like power inverters, computers, tape recorders, public address system and even scholarship for some of our graduating students.”
Archbishop’s Charge
The Catholic Archbishop of the Metropolitan Diocese of Lagos, His Grace, Most Rev. Alfred Adewale Martins, who was present at the event, commended the management of the school for their sincere commitment in helping the children attain educational qualifications. He also lauded the government and others for their
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FEATURES
Exhibition of the handiworks of the students of the Paccelli School for the blind
Cultural dance presentation by the students
continuous support in making the school a success. Martins stated, “We are delighted to rejoice with the graduates, and I believe it’s the beginning of great things in their life. We are truly proud of what the institution has been able to do in the life of the students and the country at large. We are proud that the products of the institution are good examples in the society. The school has produced products across the industry and we are still counting. With this, we want to thank God for the journey so far and in the life of the committed staff. We will want to encourage that with the grace of God, the grandaunts will grow having confidence in themselves. “We want to thank the government for picking interest in the institution. We appreciate the governor for the attention given to the institution and all who have impacted in the life of the institution by generosity.”
Government’s Commitment
Deputy Governor of Lagos State, Dr. Idiat Adebule, charged the graduating students to be of best behaviour and always leverage on their potentials and abilities as the weapon towards achieving great things. Adebule said, “As they have entered
into a new phase, they must be prepared to accept the challenges that come with it. They shouldn’t brood over their
As government, our vision is to ensure that all pupils with multidimensional challenges are exposed to the same opportunities, while assisting them to attain their desired goals. We shall continue to work, partner and support individuals, organisations and corporate bodies with initiatives that will enhance the education of this category of special children
disability but focus on their abilities, potentials and talents they are endowed with, because there is indeed ability in disability. Every challenge is a means of to fly higher like the eagle in the storm. Cohbams Asuquo, the Nigerian singer is a blind man but, he made an impact in the society and so are many others across the world and in our country here, making impact even in their disabilities.” Adebule restated government’s support in the education system to ensure every pupil in the state becomes educated without exempting children with special needs. She noted, “As government, our vision is to ensure that all pupils with multi-dimensional challenges are exposed to the same opportunities, while assisting them to attain their desired goals. We shall continue to work, partner and support individuals, organisations and corporate bodies with initiatives that will enhance the education of this category of special children.” The deputy governor who was represented by the Deputy Director, Ministry of Education, Dr. Abolarin Grace, enjoined parents and guardians who have physically challenged children and wards to avail their children special
educational facilities instead of keeping them at home. “I want to assure you that our administration will continue to give education a priority by putting in place sustainable reforms that would enhance quality and functional education delivery in the state” she added. She also commended the management for their consistency and firm commitment over the years in giving hope to this special category of children. She said, “They have done well and I know that these children will not forget them in a hurry anywhere they find themselves in future.”
Chairman’s Commendation
The chairman of the occasion, Dr. Chike Odili, in his speech commended and applauded the management of the school, as he also charged the graduates to ensure they succeed. Odili, “I want to commend the management of the school for a wonderful work done. I see in these children a greater future and career and changing things in level of space. As a parent, I also come around to spend quality time with them so would I implore other parents too. The children can achieve a lot and the sky is their limit.”
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T H I S D AY • THURSDAY, AUGUST 9, 2018
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BUSINESSWORLD R A T E S MONEY MARKET OBB OVERNIGHT
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Quick Takes Jumia CEO to Speak on Digital Economy
The government of Singapore, through Enterprise Singapore, has invited the Chief Executive Officer of Jumia Nigeria, Mrs. Juliet Anammah to join other business leaders across Africa and Asia to lead discussions around digital economy, business financing, and consumerism. Enterprise Singapore is the country’s agency vested with the responsibility of championing enterprise development and organising the 2018 Africa Business Forum (ASBF) slated to hold on August 28th and 29th, 2018 in Singapore. With ongoing business technology growth to be discussed during the business forum, ASBF offers a premier platform for promoting business exchange and thought leadership between Africa and Asia. The forum has brought together over 2,000 business and government leaders from 30 countries to develop opportunities and partnerships between these two dynamic regions. Anammah, will be joining on ASBF 2018 first panel session alongside Haresh Aswani of Tolaram Group; Pieter Cilellers of Tana Africa Capital; Edward Kieswetter of GEMSAfrica Ltd.; and Tauriq Brown of South Africa Thai Chamber of Commerce, to discuss the topic, “Consumerism: Capturing Africa’s Rising Consumption.”
eWorld Forum Holds September
MOU SIGNING
L-R: Director, Regulation and Monitoring, National Lottery Regulatory Commission (NLRC), Sajo Mohammed; Director General, Lanre Gbajabiamila; Executive Vice Chairman/CEO, Nigerian Communications Commission (NCC), Prof. Umar Garba Danbatta and Executive Commissioner, Stakeholder Management, Sunday Dare, during the signing of MoU between the NCC and NLRC in Abuja...recently
CEO Decries Poor Access to Credit in Nigeria Raheem Akingbolu Only two per cent of Nigerians have access to credit facilities, the Chief Executive Officer of Dun & Bradstreet Credit Bureaus, based in the Dominican Republic, Miguel Llenas, has stated. Speaking at the CRC Credit Bureau industry forum themed, “Growth & Innovation in Retail Banking: Building Sustainable Business Models” recently in Lagos, Llenas said for the economy to leapfrog, Nigerian banks must support businesses with the required credit. To this end, he called on financial institutions in the country to lend to consumers, adding that, “you don’t develop a nation when you lend money
Airtel Inaugurates Health Care Centre
ECONOMY only to corporate but to the people.” According to him, Nigerian banks offer credit to few corporates, which he said constitutes only about two percent of the entire population. “The banking system in Nigeria only has its focus on only about two per cent of the population. What happens to the remaining 98 per cent?” Llenas, who argued that Nigeria’s concentration on the bond market cannot translate into economic development further argued that lending money to SMEs would grow the economy. “Lending to small people that will engage in productive things
that will grow the economy is more profitable than giving a $100million to a large oil corporation”, he added In his presentation, a guest Speaker and Senior Consultant, EMEA, Fair Isaac Corporation (FICO), Peter Ould, who spoke about new trends in global in credit scoring as well as the need for banks to embrace the mandatory International Financial Reporting Standards (IFRS) 9 reporting system, said technology and digitalisation was the way to go. “For efficient lending, automated processes to make decision in a matter of seconds and not days as well as the urgent need to make use of machine learning modules are very essential,” he added. For Ould, the key messages
for credit lenders was the need to identify real untapped potentials in data and knowing that the key to unlocking the key values from big data is balancing artificial intelligence with human intelligence. In his opening remarks, Managing Director, CRC Credit Bureau Nigeria Limited said Africa’s retail banking revenue has been estimated to grow to US$ 53billion (about N19.08trillion) by 2022. The figure represents 41 percent of the total banking revenues in the region in the next four years with Nigeria, South Africa among growth drivers. According to a 2018 African banking report recently released Continued on page 24
Groups Challenge Nigerian Cybercrime Act Emma Okonji Unsatisfied with the ruling of the Abuja Federal High Court, the legal battle over the constitutionality of sections of the Nigerian Cybercrime Act 2015 has now moved to the Supreme Court. Three civil society organisations, namely Media Rights Agenda, Paradigm Initiative and Enough is Enough Nigeria, took the case to the Supreme Court and they are pleading with the apex court to expunge Sections 24 and 38 of the law. The organisations had filed a notice of appeal with the
The ninth edition of eWorld Conference will hold on September 20, 2018, in Lagos. The theme for this year’s event, which was initially slated to hold on August 23 is, ‘Nigeria’s Readiness for Digital Transformation.’ The theme of the programme was aimed at underscoring the need for Nigerians and the corporate entities to digitally prepare and transform their systems and processes to achieve their stated mission and visions. According to the Chief Executive of Ajomedia Limited, publishers of eWorld Magazine, Aaron Ukodie, the more prepared or ready an organisation or nation was, the more likely it will achieve its desired outcome.
ICT Supreme Court on July 31, 2018. Since the Cybercrime Bill was signed into law by former President Goodluck Jonathan in 2015, some sections of the Act has come under criticism by industry stakeholders, who have continually called for a review of the Act. The three societies commenced the journey in May 2016, when, their lawyer Olumide Babalola first filed an action for judicial review of the aforementioned sections of the Act at the Federal High Court sitting in Abuja. On January
20, 2017, the court, however, ruled that the sections were constitutional. The ruling of the High Court, which they described as unfavourable, pushed the organisations to approach the Court of Appeal. The appeal with case number A/L/556/2017 was however decided against the appellants, in a judgement delivered on June 22, 2018. The organisations are now putting their hope in the Supreme Court to ensure Sections 24 and 38 of the Cybercrimes Act 2015 are stricken off the Nigerian law book.
According to Paradigm Initiative’s Director of Programs, Tope Ogundipe, “It bears repeating here that Section 24 of the Cybercrimes Act is about Cyberstalking and that section has been repeatedly used to harass and persecute journalists and critics. “It’s arguably the most dangerous provision against freedom of speech, opinion and inquiry. Sections 38 provides for the duties of a service provider vis-a-vis data retention and contains provisions that we believe are too vague and Continued on page 24
Airtel has handed over a fully furnished centre for mental health care to She Writes Woman, a non-governmental organisation, which focuses on providing care, support and advocacy platform for Nigerians with mental health disorder. The centre, which was handed over to the organisation last week, was part of the telco’s on-going prize presentation to beneficiaries through its CSR initiative, Airtel Touching Live season 4. Speaking during the inauguration ceremony, founder of She Writes Woman, Hauwa Ojeifo, applauded the telco for its commitment to building a better world, stating that the impact of Airtel’s support was unquantifiable as it would go a long way to provide relief to many Nigerians suffering from mental health disorder.
Twinpine Celebrates 7th Anniversary
Twinpine, Africa’s premium mobile advertising platform, with its digital agency partners, celebrated its 7th year of operations in an event tagged, “Driving intelligent connections to consumers in Africa,” in Lagos. The event drove conversations centred on the need for digital agencies to go beyond awareness and engagement to conversions and retention via the use of Adrenaline. Speaking at the event, Head, Ad Operations, Twinpine, Dotun Ayangbile, said the digital agency’s role is to continually use automation, diversification, attribution and personalisation to unlock the highest possible value for their brands by driving intelligent connections to consumers “All of this is enabled by data-driven marketing which is powered by these four pillars: understanding the consumer’s journey; applying multi-channel marketing; personalising each customer’s experience and utilising performance drivers” he said. Product Manager,Temitope Akinpelu focused on how Adrenaline, a Twinpine proprietary product can help agencies target consumers granularly with its over 75M+ audience reach.
“Nigeria should have a robust and ambitious digital agenda to become a leader in Africa, because without ambition there will always be excuses” Vice President, Government Affairs, Huawei Technologies, Detlef Gerd Eckert
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CEO DECRIES POOR ACCESS TO CREDIT IN NIGERIA
‘Addressing Security Concerns Will Enhance Financial Inclusion’
by McKinsey, the expected growth in revenues will come from South Africa, Egypt, Nigeria, Morocco, Ghana and Kenya. McKinsey, in its report, noted that Africa’s banking markets are among the most exciting in the world as the continent’s overall banking is the second fastest-growing and second most profitable of any global region, and a hotbed of innovation. “Africa’s banking revenue pools to grow at 8.5 percent a year between 2017and 2022, bringing the continent’s total banking revenues to US$129billion”, McKinsey said. McKinsey added: “Africa’s retail banking markets are ripe with potential and present huge opportunities for innovation and growth”. “However, Nigeria, most populous nation in Africa, has a herculean task before it to speedily expand its retail banking market as report showed that is lagging behind. According to available financial institutions in Nigeria provide less than 10 percent of its credit facilities to consumers and MSMEs compared to other emerging economies. “Indonesia provides 18 percent of its banking sector credit facilities to consumers
Stories by Emma Okonji
GROUPS CHALLENGE NIGERIAN CYBERCRIME ACT borderline unconstitutional.” Ogundipe further said, “While we respect the learned Justices who did not agree with our submissions on the unconstitutionality of the sections, we, however, believe the courts have failed to carefully consider our arguments. “In a concurring judgement, one of the justices of the appellate court agreed that the law should be reviewed to whittle-down its arbitrariness. “We believe the sections should be removed in their entirety and we hope the Supreme Court would agree with us.” The respondents in the case are the Attorney General of the Federation, the Inspector General of the Police and the National Assembly.
Group Business Editor
Obinna Chima
Capital Market Editor
Goddy Egene
AgriBusiness/Industry Editor
Jonathan Eze
Comms/e-Business Editor
Emma Okonji
Senior Correspondent
Raheem Akingbolu (Advertising) Correspondents
Chinedu Eze (Aviation) Linda Eroke (Labour) Eromosele Abiodun (Maritime) Ejiofor Alike (Energy) James Emejo (Nation’s Capital) Chineme Okafor (Energy) Reporters
Nume Ekeghe (Money Market) Nosa Alekhuogie (Cap Mkt)
GRG Banking, a China-based high-tech company has said the Nigerian narrative on financial inclusion could be enhanced by 2020, if the security concerns in the country are addressed. Sales Manager, African Region, GRG Banking, Mr. George Kaloutas made the disclosure in Lagos recently, while announcing a partnership deal between GRG Banking and CWG Plc, designed to further deepen financial inclusion in Nigeria. According to him, Nigeria has the opportunity to further grow the financial inclusion strategy of the Central Bank of Nigeria (CBN), provided it addresses all security concerns limiting its growth across the country. He said the partnership would enable CWG address all security concerns limiting the acceleration of a cash-less economy through the deployment of Automated Teller Machine (ATM). Highlighting the challenges of financial inclusion in Nigeria, Kaloutas said the challenges were not peculiar to the Nigerian market, but a global concern that most developed countries of the world were already addressing. According to him, “There is a global trend where the digital world is trying to combine with the physical world. Banks are trying to come up with business models that combines the digital world like mobile banking and internet banking with the physical, such as the branches and the ATMs. “So, what you see in the market is a business model where the banks will want to increase their point of sales to enable them stay close to customers. These are the trends that we see in the market, which is all
about convergence. “Developed markets are also facing such challenges and they are coming up with solutions to address them. “The added value that GRG Banking brings into the Nigerian market is about a special offering built for the Nigerian market. “We are bringing in robust equipment for massive ATM deployment across the country. Again, we are equipment manufacturer and we build equipment according to market
specifications and this comes with a lot of flexibility to address regulatory issues in the financial inclusion ecosystem, Kaloutas said. Speaking on the partnership, the Vice President, Sales and Marketing at CWG Plc, Mr. Adewale Adeyipo, said although CWG had been at the forefront of driving the CBN financial inclusion strategy, the partnership would further help CWG to massively deploy robust ATM to rural communities as well as the unserved and
underserved communities, a situation, he said, would help ease the burden of functionality, efficiency and accessibility of funds for the Nigerian populace. We have been able to deploy several ATMs across the country, that are dispensing between 16,000 and 17,000 transactions monthly in high traffic environment, without experiencing downtime, but the partnership will further help us to do more, and bring more people into the financial inclusion ecosystem, Adeyipo said.
He said one of the greatest challenges facing the CBN was how to bridge the gap between the financially excluded Nigerians, which stood at 46 per cent in 2010, with the aim of reaching a 20 per cent reduction in 2020. But, he expressed worry that as at the last count, in 2018, the country had achieved only a five per cent reduction in eight years, which he said made it glaring that some support would be needed from financial experts.
EXPANDING FLIGHT OPERATIONS
: Manager Corporate Services, Overland Airways Limited, Mrs. Aderonke Emmanuel-James; Chief Operating Officer, Mrs. Aanu Benson and Executive Director, Mrs. Aduke Atiba, at a media briefing on the launch of the airline’s flights to Cotonou, Republic of Benin and Lome, that took place in Lagos…recently
Osun to Deepen Revenue Generation with ICT Having realised the role of Information and Communications Technology (ICT) in advancing development and empowering the people, the Osun State government has said it is investing in technology that will help the state increase its revenue generation and at the same time empower its citizens to do more. The State Commissioner for Innovation, Science and Technology, Oluremi Omowaye who dropped the hint at a recent technology forum in Lagos, said no nation would advance without investing in technology. Listing some of the technology investments in the state, the commissioner said the state had concluded on its toll-free enquiry call centre that would help empower its citizens in the area of agriculture and emergency response. The centre, he said, would be inaugurated in the coming days. According to him, “When we were putting up the toll-free enquiry call centre for the state, we realised that we needed a short code that people could easily remember when they have need to call the centre. “So, we approached the telecoms industry regulator,
the Nigerian Communications Commission (NCC) for a three-digit short code and NCC supported us in achieving the initiative. “The call centre is ready, and we are going to deplore it by next week. It is designed in such a way that every livestock in the state will have an identity. So people can send SMS to the short code issued by NCC, and they will immediately get a response from the centre, informing the person about the owner of the livestock. The call centre will also notify the livestock owner of the possible buyer. “Aside agriculture, the short code could be used for other things like getting the state ambulance service, the security operatives for any emergency and I need to commend the NCC for helping us in achieving this feat. “We also plan to connect the state call centre to other call centres outside the state for interstate connectivity. “The state is doing well in terms of providing basic infrastructure for its citizens. The governor has done a lot around infrastructure development. “We are currently working on stable power generation for the state to enable the citizens
enjoy the full benefits of the infrastructure provided by the state,” the commissioner said. He, however, urged its citizens to pay taxes regularly in order to help government
serve the people better. “We have deployed technology solutions that will boost tax collection and also enable government block all financial leakages in the state.”
According to him, the state generates less than N1 billion from tax collection, but could generate as much as N5 billion annually if the right technology is put in place.
Firm Strengthens Risk Management Software Risk managers in the Nigerian financial sector are expected to get relief in handling risk management, following the decision by FinTrak to rejig its risk management software, known as Credit Risk 360. The Lagos-based financial technology (fintech) company recently engaged commercial bankers and other financial sector players on the need to deploy a robust application that would integrate, modernise and update their credit risk management process right from origination to repayment. Addressing the audience, the Group Managing Director of FinTrak Software, Bimbo Abioye said, “With the Credit 360 software, valuation history can be tracked easily, and notifications gotten on the go, this is due to the mobile functionality of the software.” “Financial instruments such as stocks, shares and even
exchange can be integrated in this software, making it an all-round tool for credit managers and bankers. “With the Credit Risk 360 solution, Credit risk managers in and financial institutions would enjoy ease of credit processing such as loan impairment, credit documentation, credit appraisal, loan reporting, approval and loan restructuring.” Industry watchers defined the application as a game changer in the credit and risk management ecosystem. They revealed that the solution had been deployed to First Bank of Nigeria Limited. Program Manager, Credit Risk Transformation Program – First Bank Plc, Mr. Chineme Emmanuel Eze, said, “For such a solution to come out of the stables of FinTrak, it has demonstrated that the company has consistently maintained quality, which
has even surpassed industry standards. “Their Credit Risk solution is so advanced that it can be tailored to suit one’s individual needs unlike the off-the-shelf variants of software available.” The Core Banking and Credit Implementation Lead, FinTrak, Chris Sualeze said, “This software addresses all the deficiencies and also limits errors. The architecture of the solution is highly flexible and this makes it mobile adaptive in this age of mobility. “Bank executives need not carry their laptops around as they can work with the solution on the go. The Credit Risk 360 Solution is highly mobile with a parameterised set-up. With two factor authentication embedded in the solution, Credit Risk 360 can be said to be one of the most secure risk management software in the market.”
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Benefits of Adopting Cloud Computing The successful adoption of cloud computing in business is a transition process that requires resolute leadership, strong operational alignment, a clear execution roadmap based on measurable value metrics, and fearless conviction, writes Emma Okonji The adoption of cloud technology in business has been described by industry stakeholders as one process with many benefits. But most companies still find it difficult to put their operations on a cloud footing. Instead, they still prefer to manage with one foot in the cloud environment, while the other remains planted in the legacy organisation. Companies can succumb to a variety of operational pitfalls during this period, ranging from having the wrong talent to treating the cloud simply as Information Technology (IT) issue, rather than a core business mandate. However, making this transition successfully requires resolute leadership, strong operational alignment, a clear execution roadmap based on measurable cloud value metrics, and fearless conviction. Managing organisations with cloud Experience suggests that many companies attempting to add cloud to a legacy organisation are unprepared for the challenges ahead. The stakes for such unpreparedness can be high. A failed cloud transformation can disrupt organisations and imperil business objectives. For example, after struggling to build a private cloud in an effort that took years and huge levels of effort and resources, a United Kingdom (UK) publisher had to scrap the entire project and join an already established public cloud service, in the process disrupting the legacy business and generating major costs. Additionally, a survey of nearly 300 Information Technology (IT) professionals conducted by Accenture, reveals that two of the top reasons why cloud implementations fail are a lack of clearly identified business objectives for migrating to the cloud, and poor planning. Clearly, it is critical the business and technology management are aligned on specific objectives and develop a detailed plan to adopt and embrace cloud technology. Integrating cloud with conviction During a critical transition period, a tepid approach or lack of strong operational alignment (behavior change) can cause a project to stall. It is critical to have a plan that ensures the legacy organisation recognises the magnitude of the changes ahead. A recent survey conducted by Accenture, asked 140 executives what problems their private clouds faced. Over 30 per cent – by far the largest response – reported their failure to change their operational model as the primary stumbling block. Clearly, agile clouds need agile processes, and people can either become big supporters or ominous roadblocks on the trail to integration. In the views of the Managing Director, Technology Accenture Nigeria, Mr. Niyi Tayo, operationally, companies need to reconcile their legacy standard operating procedures with the cloud organisation’s organic agility. In many cases, that means introducing multispeed IT strategies and re-skilling legacy staff to function in the cloud environment. And because cloud-based innovation projects often shift direction, leaders need effective ways to gauge progress quickly and accurately. Only then will they be able to mitigate issues as they occur. According to him, until the company has solidly integrated the new cloud-based capabilities, the digital platform is in danger of becoming just another box on the organisation chart instead of the transformational engine that powers the company to digital parity with competitors. Cloud-based transformations Netflix began operation as a dot-com DVD innovator, offering a more convenient service than its bricks and mortar rivals by allowing customers to rent movies online and then receive their DVDs in the mail. The company’s legacy DVD mail business dropped from 20 million subscribers in 2010 to 5.3 million in 2015. By embracing agile resources, Netflix replaced
them with 65 million cloud-enabled, live streaming customers worldwide. In the process, the company radically transformed itself from a movie rental competitor to a cloud-focused player that competes with global media players worldwide. In making this move, Netflix proved it could support a new business with a new operating model without facing major legacy conflicts. It split its DVD mail and streaming services in 2011, indicating a desire to let each grow and operate independently. Netflix is currently a leader in over-the-top content streaming, and in 2013 became a content production company, creating its own TV entertainment that it streams to users.
Most companies still find it difficult to put their operations on a cloud footing. Instead, they still prefer to manage with one foot in the cloud environment, while the other remains planted in the legacy organisation
Also, Towergate, one of Europe’s largest independent insurance intermediaries, wanted to shift its traditional IT organisation to a cloud focus. The company’s 300 acquisitions over 20 years complicated the challenge. However, since many had different legacy IT systems and applications, Accenture worked with Microsoft and joint-venture partner, Avanade to migrate infrastructure and applications to the public cloud. The initiative focused on four infrastructure areas: datacenters, the network, end-user computing, and service support. The transformation took less time than anticipated 12 months and delivered annual savings of 30 per cent, representing savings of about $5 million per year. In the process, Towergate connected 4,500 employees and effectively integrated all 300 of its acquisitions. Featuring a smarter, faster and better IT platform, the company’s cloud transformation improved user experiences with new tools, a single service desk and enhanced self-service capabilities. It also made collaborating across departments easier, while boosting Towergate’s agility and customer responsiveness. The need for cloud integration Leaders face a series of key strategic decisions regarding whether to integrate or separate the cloud business from the organisation. Netflix for instance, introduced its cloud-based streaming business in 2007, but waited until 2011 to split it from the DVD business. Other cases could take less time, especially if the agile organisation’s fit with the legacy business is unworkable, or the cloud business grows faster than expected. Then options range from creating another business unit to spinning the legacy business off or selling it outright. According to experts’ views, if integration is feasible, leaders need to explore their options in this area. Possible solutions, they said, include absorbing the cloud business into the legacy one, which then becomes “new” by the principles of Osmosis, or rotating legacy talent through the separate cloud business unit to learn the new approaches and take them back to their original jobs. In either case, companies must learn how to operate in a multi-speed way, the experts said. For example, one automaker
created a two-speed IT approach capable of handling the higher-risk, more-likely-to-fail technology experiments its emerging digital business requires, while at the same time accommodating the company’s more traditional IT system development and upkeep needs. Critical choices ahead As more companies embrace the cloud to enable innovation and drive profitable growth, they need to make a clear-eyed assessment regarding how to position the cloud organisation in the larger enterprise, and what needs to happen and when to ensure its success. While the new cloud business may infuse agility, the organisation might need to reengineer the legacy business, perhaps spinning off or streamlining certain areas while bolstering others. Likewise, the new cloud business could evolve into several different operational end-states, which is an agile standalone cloud play. According to experts, three experience-based insights could provide guidance in areas such as ‘Get Serious About The Cloud’ and tap from its many benefits by training employees in relevant solutions, tools and apps, as well as to plan future innovations with the technology as their base. The other experience-based insight is to ‘Go Agile’ by creating a top to bottom agile organisation, not just in development but for every element of the company, including human resources, legal, finance, procurement and sales and marketing. The third experience-based insight is to ‘Get Rid of Baggage’ in order to reduce IT drag, and to embark on a lean mission for workloads. Commitment to innovation As companies reinvent themselves for the digital age, their leaders need to consider how to integrate their established legacy operations with the sleek new promise of their emerging agile organisations. They need to retain the institutional knowledge on the legacy side while simultaneously developing new skills for the future. Achieving this goal will compel them to operate in new and perhaps challenging ways, and success will require them to adopt the cloud with conviction, which requires an unconditional commitment to innovation.
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Firm Tasks Contractors on Optimal Service Delivery Stories by Emma Okonji In a bid to ensure and strengthen network deployment partnerships for optimised client service provisioning and end-toend delivery, independent fibre optic infrastructure and telecommunications services provider, Phase3 has called on all contractors to maintain quality service delivery.
The telecoms company made the call during its first annual contractors engagement forum and awards, which held in Abuja recently. The event focused on seeking inputs, discussing feedbacks, the required ingenuity, and transparency of stakeholders in facilitating change to enhance network project objectives. At the end of the event,
a short ceremony to honour the company’s outstanding contractor, Sir Feliy Telecoms Limited for its accomplishments and notable contributions to the Phase3 network for the year, 2017, was also held. The Chief Executive Officer, Phase3 Telecom, Mr. Stanley Jegede, said the very demanding, competitive and rapidly evolving landscape that the telecommunications industry
is currently into, call for an urgent rethink of how a company such as Phase3 Telecom deploys its services. “The principal consideration, which certainly involves the active collaboration of its contractors, is maintaining a consistent graph of network uptime through result driven processes that promote turnkey network infrastructure deployment and service integration,”
Jegede said. According to him, the role of Phase3 is about transforming, hence the need to affirm its market position as a high-speed broadband infrastructure backed by a sustainable integration model that builds and ensures scalable business solutions that both compliment the objectives of the National Broadband Plan and ensures that it helps its clients succeed
in their businesses. He said its contractors must begin to see beyond increasing profits to viewing themselves more as industry stakeholders that are integral to addressing the existing market gaps in meeting broadband services demand as well as the current strategic objectives for the deployment of nationwide fibre optic infrastructure, under the broadband plan.
Globacom Achieves Faster Connectivity at Call Centres Globacom has made it easier for its customers to access help through its call centres by boosting customer representatives’ head count at the centres. The operator’s customer care facilities across the nation have been expanded and equipped with state-of-the-art facilities to accommodate more customer care representatives. Globacom said in a statement that this development would help to boost overall customer experience on the Glo network as subscribers will be able to access help through the help lines for any of the issues they may have. The company said it took the decision in line with global best practices in customer care, adding that the key objective is to ensure quick resolutions of queries, requests and complaints raised by its customers. “These steps would add value to the experience of our esteemed customers on the network as they will spend less
time on the Interactive Voice Response (IVR), before a human customer care representative picks the call and resolves the issue or issues being raised by the customer,” the statement said. To complement the physical customer assistance centres, the company said it had also increased the capacity of its social media help desk to handle social media customer interaction through Facebook, Twitter, Instagram, Google+, YouTube, Online Web Chat and other platforms. Globacom has also boosted the capacity of its eMarketing team to enhance customer engagement on new products and services. “For the online dealers and business associates, a dedicated customer care support desk to manage and handle walk-in customers pan Nigeria has been established and the desk, cumulatively, manages dealers and associates on a day to day basis,” the statement added.
Group Holds Digital Agenda Forum The Centre for Cyber Awareness and Development (CECAD) has announced the date for the Nigeria Women Digital Agenda Summit and Awards. The event which is billed to hold in Lagos on the 30th of August, 2018 has the theme “Harnessing the opportunities of the digital age.” The event was designed to highlight the huge opportunities available to women in the 21st Century, accelerate progress and identify Nigerian women across board that have been able to maximise the tremendous opportunities offered by the digital age to better their communities, career and the country at large. The event is expected to bring together 700+ women and girls from different walks of life to share strategies and map out the future of the Nigerian woman in a digital age. According to the Executive Director of CECAD, Dr. Bayero Agabi, the 21st Century is a period of tremendous information explosion, where science, technology and innovationare no longer treated as stand-alone but have become integral parts of human existence transforming lives and businesses. Agabi, added that with women at the centre of homes, businesses and many corporations, summit and awards forum will create a platform where women will x-ray current
trends in entrepreneurship, healthcare, politics, businesses, agriculture, social and family lives with regards to how well they have fared in the knowledge economy using technology. “It will also provide the opportunity to better understand the position of women in the economy and society that is being transformed by digital technologies while proffering solutions to some of the factors limiting women from maximising the opportunities in this new age,” he said. Agabi added that women all over world were faced with challenges even in the face of tremendous opportunities offered by technology. He listed the following as part of the issues to be addressed at the summit digital gender divide, the systematic under-representation in top executive positions, discrimination in employment especially in science and technology related fields. He cited a UN statistics stating that “women worldwide are 20 per cent less likely to hold a senior leadership position in the mobile communication industry, they make only eight per cent of the investing partners at the top 100 venture capital (VC) firms and only 17 per cent of the scientists earning more than $ 105, 000 (in 2015).”
RECOGNITION
L-R: CEO, Priority Communications Limited, Mr. Olumide Samuel and Managing Director, Mrs. Bimbo Samuel, at the 100 Leading Telecom and ICT Personalities in Nigeria book launch in Lagos...recently
21st Century Technologies Fintech Conference to Boost Secures MTCS Certification Industry Collaboration 21st Century Technologies Limited has become the first data centre in Africa to achieve Multi-tier cloud security (MTCS) standard. This standard describes the relevant cloud computing security practices and controls for public cloud users, public cloud service providers, auditors and certifiers. With this new milestone, 21st Century Technologies Data Centre has become the most certified data centre in Africa with eight top certifications. Its Chief Technical Officer, Digital Encode- 21st Century Compliance Advisory Consultant, Oluseyi Akindeinde, said the MTCS standard is the world’s first cloud security standard that covers multiple tiers of cloud security. “It can be adopted by Cloud Service Providers (CSPs) to meet different cloud user needs for data sensitivity and business criticality. This certificate is a strong indicator that 21st century technologies Ltd consistently has its customers’ interest at the core of its business operations and is committed to securing customer information as well as maintaining a safe and secure environment for customer data,” he said. The Chief Executive Officer, 21st Century Technologies, Wale Ajisebutu, said 21st Century Technologies Data Centre is Tier IV designed, allowing all active capacity and distribution components to be concurrently maintainable. “This allows preventive and
corrective maintenance activities to be carried out without service downtime. Sufficient power and cooling capacity are available to simultaneously support the load on one path while performing maintenance or testing on the other. Multiple power generators and back-up power ensure that uptime guarantee is achieved,” Ajisebutu said. The Chief Operating Officer, Digital Encode, Wale Obadare, noted that 21st Century Technologies had been positioned to deliver reliable and uptime data centre services to businesses in Nigeria and Africa. “The multiple certifications of 21st Century Technologies Data Centre demonstrate compliance to globally accepted standards on high availability, commitment towards the security and protection of the information assets of the company and its customers, and provides assurance of the quality of the Data Centre’s infrastructure and ability to react to disruptions due to unplanned activities,” Obadare said. 21st Century is today the most certified data centre in Africa with eight certifications which include: Payment Card Industry Data Security Standard (PCI DSS) which certifies the Data center to process payment card information, ISO 9001 for Quality Management System ISO 27001 for Information Security Management System, ISO 20000 that certifies the Data Centre for Service Management System.
The second annual African Fintech Unconference (AFU18), which is slated for September 25 and 26 in Stellenbosch, South Africa, will boost industry collaboration, according to the organisers. The key industry event will be co-convened by African fintech pioneers Nomanini, MFS Africa and Tugende. As with the inaugural AFU held in March 2017, this year’s conference agenda will be guided by African fintech innovators, thought leaders and entrepreneurs. Unlike traditional conference formats, AFU creates a space for open, dynamic dialogue and valuable interactions. According to the CEO of Nomanini, Vahid Monadjem, organiser of the informal retail trade for financial inclusion, “the fast-moving and highly disruptive African fintech landscape is ripe for consolidation, and AFU18 will provide an important platform for discussion and information sharing - with the ultimate goal of boosting collaborative fintech partnerships across the continent.” According to advisory firm PwC, cumulative investment in global fintech could well exceed $150 billion within the next 3-5 years. Given the current innovations emerging from the African continent, major portions of this projected investment could be directed towards African fintech projects. This makes industry
events such as AFU18 even more critical - to consolidate efforts and to forge sustainable partnerships for the long term. “We are delighted to be a part of the second annual African Fintech Unconference, as it provides an unparalleled platform for discussion at a time when trusted partnerships are key to creating a healthy ecosystem for Africa’s fintech innovators,” says founder and CEO of MFS Africa, Dare Okoudjou, the largest mobile money inter-operability hub in Africa. Testament to the importance of such an event, AFU 2017 attracted 90 participants from around the globe, with attendees including banks (Ecobank, Fidelity Bank), funders (the Mastercard Foundation, IFC, USAID), fintech innovators (MFS Africa, Interpay) and thought leaders (Digital Frontiers Institute, BFA, Caribou Digital), among others. Founder and CEO of Tugende, which finances income-generating assets for proven entrepreneurs, Michael Wilkerson, said: “Given that the fintech landscape is still an emerging one, with many new players vying for attention, it is important to promote dialogue and to create transparent, long lasting relationships. “This is precisely why we believe AFU18 is such an important event for the industry, and we encourage all stakeholders to attend.”
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Ani-Mumuney: It’s Embarrassing for APCON to Be Functioning without Board The President, Advertisers Association of Nigeria (ADVAN), Folake Ani-Mumuney, in this interview with Raheem Akingbolu, speaks on challenges and new trend in marketing. She also calls on government to take cognisance of the place of experience and industry knowledge while constituting council for the Advertising Practitioners Council of Nigeria ADVAN recently organised a conference tagged ‘Chief Marketing and Communications Officers’ Forum’, which was like a new approach to stakeholder engagement. What informed the forum? We thought it was critical for us to take a step back, as it is in any association. So, we took a step back and measured our impact and looked at the gaps and areas where perhaps we needed to reassess what our goals and priorities would be. Who is better to do that than robbing minds with the Chief Marketing Officers (CMOs) and Corporate Communications Officers (CMOs) of the leading brands in Nigeria? That was what informed the conference. It is important that we sit down together whether you are a member of ADVAN or not, it is important that we all sit down to say, how do we drive our industry and our sector forward? Therefore, that day, we sat down and asked ourselves; what are the key issues that impact our sector? Of course, we can’t know it alone as ADVAN. If we sat in our ADVAN office, we wouldn’t know it, so it was important to have a session which is like a “no holds barred” type - an open session, where we can be honest with ourselves. What were the take aways from the forum? Let me start by giving you this background. The forum was birthed out of a need to provide the nation’s marketing and communications leaders with a platform to better navigate the fast-changing marketing communications landscape as well as provide insights on changes in local and multinational marketing and communications which leaders need to make in order to effectively deliver profitable brand equity as they equally grow in their chosen career. In specific, we concluded that the easiest place for us to start from was to start locally and because it was a no holds barred discussion, the take aways from the event was unquantifiable. This year’s edition was themed ‘CMOs as the CEOs’. Your question will be; why did we choose that theme? We want a discourse around the fact that CMOs and CMCOs need to have the mindset of a CEO. Why must you have the mindset of a CEO, it is because you must be aligned to the CEO’s vision, the CEO objectives and the goals of the institution. The mindset of the CEO allows you to think about profitability and to put that at the fore front; to think about the returns to shareholders, to put the customers at the heart of your business. We are not advertising for the sake of advertising; we are not marketing for the sake of marketing, we are marketing to give consumers what they need, but we are also marketing to ensure that we return on investment and we turn in profit for our institutions and therefore return to shareholders. So, for that reason, we felt it is very important that we look at the topic that speaks to, for instance, the state of the economy, which we all know. How do we make sure that with the shrunk in budget, that we are all faced with, how do we do more in an ever-shrinking environment? We are lucky the economy is improving; there are things that we can look up to. Again, this is the time for us to say guys, let’s come together and really focuses on how to proffer a lasting marketing solution. Then we came together, got drilled to help each one of us to be more efficient. At the forum, we talked about efficiency of our marketing budget and of course, we talked about efficiency of the sector. To strengthen professionalism, we spoke about fair play, we talked about ethics in the industry because ethics in the industry is a critical one and governance and self-governing are also very important.
Ani-Mumuney Like I said, in a “no holds barred” environment, we thought we should be able to talk amongst ourselves and share industry practices that we thought we needed to shed light on. So, I assumed all of that is local. And what is global? There are a number of global issues that were also treated which we believed would impact and affect us here in Nigeria. As a result of this, we also have among our resource persons, experts who are deep in global marketing trends. For some of those global issues, if you remember when I became president, one of the things that I spoke about during the AGM was that come May 25th, 2018, the GDPR policy coming from Europe will be played. Are we ready for that? Everybody said yes, but then, that is an European law. It is an European law that will affect those brands that are truly global and even if you don’t have a global brand, it will affect you so far as you are in the data play. That was what we saw at the conference and those were some of the key issues. We took some of the global issues and addressed them. We looked at them and asked; how do we want to have a position and there was another paper on how we thought this would impact us. Two, another set of experts discussed how we could engage the regulators and the authorities to understand the policies we have in place. Do we have adequate laws that will protect us and guide us? We must have a response to it as an industry. We discussed how we thought it would affect us and even if it would not affect us much - at least it means that we are prepared. That was one of the global issues treated. Another global issue that we looked at was considering what happened recently with Facebook and the whole issue around data transparency. We looked at how people collect data and what they do with their data. In Nigeria, we need to realise that we must be questioning whether our data laws are strong enough and whether they protect us. Therefore, it is not just about us wanting to push the marketing out there, we want to ensure that we have a robust marketing ecosystem that protects the consumers and protects us as marketers as well. For three years now, APCON is yet to function appropriately due to the absence of its council. What effort has your association made in this regard in conjunction with others to advocate for the setting up of a council?
Let me start by stating categorically that ADVAN insist and reiterate that we will use every opportunity that we have to join this clamour for APCON to be properly instituted. It is embarrassing for us that three years down the line, we don’t have a functioning APCON council. We take every opportunity to engage directly, indirectly with the powers that be. Of recent, as a body we all came together, driven by Media Independent Practitioners Association of Nigeria (MIPAN), Association Of Advertising Agencies Of Nigeria (AAAN) and of course ADVAN. We jointly wrote a communiqué which was sent to the Minister of Information, Alhaji Lai Mohammed, and within there, we made our request quite clear. We demanded for a proper constitution and we demanded people with industry knowledge and experience. This became necessary because part of what we found out after the last council was constituted was that it was not in order. We thought we had made progress, but we also felt that people who were nominated were not industry practitioners and as we all know that will not happen in other professions. It will not happen in the legal profession and it will not happen in medical profession. Why will it happen in advertising? So, we were quite clear, that we felt that we will be doing ourselves a de-service and we will be doing the nation a de-service, if we do not bring in experts to regulate us. It will be to our own disadvantage if we do not ensure that we call to question some of the nomination in that council. Every board needs diversity, we recognise that strong boards are boards that include diversity but, professionalism, expert knowledge, a knowledgeable board are also critical. So, we are insisting that we want to see practitioners and we have enough of them, fully qualified, we mentioned Mr. Udeme Ufot and till date I see no reason why someone like that cannot be made the chairman. These are people who have spent years in the industry and therefore, have gathered knowledge. Why would we throw that knowledge away and only start again from the beginning? The learning curve will be a lot more difficult for the sorts of people who don’t have the industry experience if they are the ones nominated. So, that is a clear area that we are saying it is good. We are happy that progress is being made, but it has to be constituted by the right people. That for us is one of the things that we are doing. Like we said together, we are all clamouring for this together and we believe that it is only when
we lend our voices together and everybody at every single opportunity continue to clamour for the same thing, that we would eventually achieve what we set out to achieve. Looking at the just concluded World Cup, what do you think was the share of mind for the brands that advertised during the football competition in the long term? I believe that brands that leveraged a property like the World Cup will always have mileage in the market place. We should not forget that football is a property that is truly special to Nigeria; I think all Nigerians are passionate about football. In fact, I know, like I always said that if you check the maternity wards, you will see that some children, even before they are born, they are already kicking and passionate about football. However, with our love for football in this country; something that is so dear to Nigerians as a whole, the brands that leveraged on it will always get the result. Though we didn’t go far in the tournament, it was still a good outing to few brands that associated with it. In fact, some of the campaigns still resonate in the market. The great thing about a sport like football is that it cuts across all ages. It is a family sport that people can enjoy. It is a sport of passion; you can be mild about football. It is a sport that allows you support a position and you choose the team that you choose to support. So; it lends itself very well to sponsorship and to promoting the messages that brands have to promote. It is just so diverse in the opportunity that it gives. What I believe also, is that Nigeria has done a fantastic job for the first time to my mind, in what we have just done with the football jersey and I look forward to a situation where we also lend our voice to say how can we tap into this fantastic opportunity we have opened with the way the football jersey has been received. The football jersey created so much excitement; it has really put Nigeria on the world stage; imagine the opportunities from that alone. I know a lot of people have said why are they not producing the jerseys here in Nigeria? But, guess what, we will start slowly. At least, we have been able to show them that from a fashion prospective, Nigerians have it. I read that the minute it was out, within 15 minutes or 45 minutes, it was sold out, I saw a lot of brands advertising and creating their own jerseys. Trust us, we know how to swagger. In the previous engagement with the Newspaper Proprietors’ Association of Nigeria (NPAN), ADVAN clamoured for audit circulation. Has ADVAN abandoned that quest? No. In fact, there is a major initiative and it is across the sectorial groups. We say let us come around the table to really look at how we can treat this issue of measurement and metrics, whether it be circulation numbers whether it be traffic. The recent move was a meeting of stakeholders, which was spearheaded by MIPAN. What value has your position as the president of ADVAN added to your professional life? I think there has been a lot. It is very easy to do your job daily and you could be progressing in your career very easily and not really take an active role in the issues that concern the sector as a whole. But in taking an active role in issues that concern the sector. I think I have a better understanding of some of the dynamics and the conflicts at play, that I did not have before when I was simply just Chief Marketing Communications Officer here or there or Head of Strategy. When you see the dynamic conflicts, you will then understand
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Oguntimehin: Innovation Key to Customer Satisfaction Strategic Partnership Manager at Tecno Mobile, Mr. Jesse Oguntimehin, spoke with Emma Okonji on the company’s drive for new products as well as its 2018 empowerment initiative that offers financial support for businesses. Excerpts: Tecno Mobile has consistently released new sets of smartphones for its loyal customers. What is the company trying to achieve by releasing majorly camera-centric smartphones? In today’s world, the importance of the smartphone camera cannot be over emphasised. Camera has become a very important aspect of smartphone technology, which people can’t seem to live without these days. Everyone is a media entity now. As we speak, if we decide to conduct a survey and check people’s phones, you will realise that their galleries are filled with images taken with their smartphones. Focusing on building the best camera in a smartphone and making it better with every new. Tecno product has brought us closer to our customers who reward us by embracing the products. This has contributed to the growth of Tecno is many ways. Anyone who wants a good and brighter camera smartphone will find a good choice in the Tecno Spark2. So, having launched the Tecno Spark2, what unique features distinguished it from the previously launched Spark phones? The previous Tecno Spark phone was unanimously voted the smartphone with the brightest camera by several notable pundits, so the device was and is still one of the most amazing smartphones to have graced the African mobile market. However, the new Tecno Spark2 smartphone comes with Android 8.1 (Go Edition) from Google. The partnership with Google sets the Spark2 apart from the previous Spark. Customers will be able to use the phone to capture brighter images and not worry about apps slowing down their phone as that is what the Android Go is built to achieve—run lighter version of popular apps, while running smoothly and helping
Oguntimehin
the customers to conserve data. The device comes with an advanced facial ID security feature, which will also allow users protect the contents in their smartphone better. You mentioned earlier that the Spark2 camera has the latest smartphone camera technology, so what exactly are the differentiating factors between the Spark2 smartphone and the smartphones released by your competitors? As earlier stated, we cannot overemphasise the importance of smartphone photography in our habitual activities. Therefore, we at Tecno made it a note of importance to give our consumers an undeniable reason to acquire the Spark2. It is not your average smartphone camera, it comes with several sub camera features such as HDR mode and selfie portrait mode. The rear camera has five lenses in one that filters
blue light producing a clearer and brighter image. Not forgetting the dual front flash and screen flash for preferred lighting effect in low light situations.
partnership is very important and will benefit both Google and Tecno customers as users will enjoy the new Google Oreo Operating System (OS) in the latest Tecno Spark2.
Over the last decade, Tecno Mobile has dominated the African smartphone market and with what we have heard in recent times, the brand is also doing well in the middle east. What are the new markets that Tecno recently penetrated and what are the next new markets people should expect to enjoy Tecno products? We are proud of our achievements so far, however, the work has to continue. We still have a lot of markets to conquer. It is safe to say we are just starting. Yes, in 2016 we expanded into India, Dubai and Bengal and in 2017, we took the success story to Myanmar, Iran, Vietnam, Thailand and Indonesia. However, this year, we are looking at expanding to more countries and in some few weeks we will be penetrating Russia, Brazil and some other parts of South America. The focus is however not moving away from Nigeria as consumers in Nigeria will still be getting new and innovative products from Tecno.
How much is the Tecno Spark2 selling for in the market currently? The Tecno Spark2 smartphone is already in the market across the country and retails at N36,200 only. From what the phone offers and the response so far, it has been an amazing few weeks for the Spark2, far and above what we had with the Spark last year.
Tecno is a global brand and has partnered other world-class conglomerates such as Manchester City and the latest being Google. What value will the partnership with Google offer Tecno consumers? Google is a global brand and its no longer news that Tecno Mobile has grown to become at par with other globally recognized brands. However, it makes us proud to have grown to the level in which Google will want to partner with us- that’s a great feat for us. Our
Tecno has always been known for giving back but what exactly is the idea behind the ‘Light Up Your Dream’ concept? ‘Light up your dream’ is a concept that was coined to encourage Nigerians to reach for the seemingly impossible and to participate in a life-changing experience. Tecno is not only interested in providing innovative products, we are also interested in changing lives in any way that we can. That said, the light-up idea is a continuation of the already established culture of giving back that Tecno is known for Why is customer empowerment of so much importance to Tecno? Nigerians have always supported the Tecno brand and giving back is part of the culture of Tecno, so empowering Nigerians seems like a natural fit with our culture. It’s Tecno’s way of saying “Apart from getting value for your money with our product, you can also get something much more meaningful to change your life.” We value our customers and as long as Tecno is in Nigeria, we will always be innovative and creative in appreciating Nigerians.
Sports Marketing and World Cup Ad Weeks after the conclusion of the 2018 World Cup, Raheem Akingbolu reckons that some of the campaigns used by some of the top brands are still in sync with market trend. That many business owners within and outside African continent looked in the direction of the just concluded world cup to connect with consumers, is like stating the obvious. Of course, consumers too appeared ready while the show lasted. As a result of this, each of the brands engaged the market through different positioning tools to gain competitive edge. Though the game has since ended, some of the brand promoters and consumers are still in the euphoria of their successful outing. In Nigeria, top brands like Glo, Star and Coca Cola explored the platform perfectly. This marketing theory asserts that a consumer’s knowledge or feeling around a brand – be it a place, person or product – will transfer to the brand it’s linked with in an advertisement or marketing campaign. For Glo, it was a familiar terrain, considering its passion for football. That is why its World Cup campaign has remained relevant event after the event. The brand has deployed tonnes of money in football sponsorships nationally and at the continental level. The World Cup holds a great opportunity for companies with such pedigree, to tap into this wonderful and effective passion point, by harnessing opportunities to be on the same page with its growing subscribers and the global audience. As expected, African brands started on sound footing as five countries including Nigeria represented the continent at the FIFA 2018 World Cup. This raises marketers’ hope to explore opportunities as the competition progresses.
Unfortunately, none of these national teams survived the group stage. The onus, therefore rests on agencies to come up with creative strategies and executions capable of giving strong voice to brands of African descent, in tourney in which their representatives, failed to survive the first stage. It’s beyond a “Support the National team… or Support Africa Rep” campaign. It has to be exploratory, revolutionary and challenging. In this case, the brand owner, Glo and its agency challenged, still ensured that the African voice continued to sound loud and clear in the ears and hearts of football lovers courtesy of a far reaching materials flighted by the brand. The commercial tagged “African Legends” by Glo, otherwise known as the “grand master of data”, is hinged on some real heroic deeds
of Africans – sports, culture and more. The concept is bound to make lasting impression during and after the world Cup. The biggest and arguably the loudest 2018 World Cup focused African Ad from Nigeria, African Legends, is unprecedented in driving passion for African football without a single African team in the game. The advert depicts the dexterity of Africans in a number of positive deeds, the heroic nature of Africans, the legends, the stars and greatness embedded in Africans. The casts, the setting, the music, wardrobe, props, all are creatively synchronized in the 60” seconds TVC to create what could be described as ‘Black Panther’ of TV Commercial. The other name for the TV commercial would have been, the irrepressible “African spirit”, it opened with the traditional Moroccan music and prop and people dancing, in procession to celebrate their king. The clips transition to Ghana with her proud black stars displayed in subtle arrogance, the effect is pride and shared accomplishments. Tunisia brought glitz and glamour to add colour to the one-minute commercial, heroes were celebrated with euphoria through the bonfire and show of African strengths and power. Senegalese flavour added a pep through unqiue African wrestling and dance that aroused cheers and jubilation. All these depicted the greatness in Africa culture. Nigeria joined in the euphoria with her luxurious green-white-green colours with the horse ready for action. All these were laden with the power of football,
as the most potent unifying factor for Nigerians, nay Africans. Stars and football legends across the different countries were featured not their traditional playing gears but in paraphernalia that spring surprise, and arouse a smile. Sunday Ogunniyi, A lecturer in communications and football buff said the commercial very well resonated and confirmed that Glo is the biggest supporter of African football. Africa may not have participated in the 2018 World Cup as much as we would have wanted, but we have our legends and it is possible for us to live up to this aspirational status again, I think this was one of the points of the ad. This advertisement was big and loud, although, snobbish at the onset, you would never have known where its leading, the surprise element! Glo made us to realise through the campaign that celebrating heroes and legends can add value to our psyche. As they are commemorated in the right way, it restores hope, inspires the youngsters to be better and desire to make it to the global stage. The commercial from concept to finish was handled by X3M Ideas along with the Glo brand team. Commenting on the work, the CEO/Chief Creativity Officer of the agency, Steve Babaeko comment on the campaign reluctantly said, “The Chairman (referring to the boss at Glo, Otunba Mike Adenuga) challenged us that he wanted the best ad, and we strived to do just that. The campaign was designed to build on Glo pedigree as the biggest supporter of football on the continent.”
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DEVELOPMENT
Opportunities in Waste Management Value Chains In many countries efforts are being put in place to convert wastes to wealth as part of efforts to tap into the waste management value chain, writes Ugo Aliogo Waste management has become a global issue which countries are making efforts to address. Waste can take any form, from either solid, liquid or gas and each have different methods of disposal and management. The various kind of wastes include municipal or residential, gaseous, solid, hazardous and liquid. In the waste recycling value chain, there are the pickers (collectors) standing at the bottom of the ladder, who interface directly with the aggregators (collection/hubs) and while the aggregators deal directly with the recycling companies who collects the waste for processing and recycling. According to the World Bank, with a rapid population growth and urbanisation, municipal waste generation was expected to rise to 2.2 billion tonnes by 2025. Also, the Waste Management Society of Nigeria (WAMASON) had estimated that nearly 65 million metric tonnes of waste are generated in Nigeria per annum. While globally, it is around 1.7-1.9 million metric tonnes. WAMASON also estimated that Lagos generates 13 million metric tonnes of wastes. With the large volume of waste generated in the country, the expectation is that Nigeria should focus its attention on efforts aimed at converting these wastes to wealth, to boost revenue generation. But not much progress is being made in this regard. Nevertheless, there are lots of opportunities available in the waste recycling value chain for Nigeria such as plastics recycling, employment generation, Public Private Partnership (PPP) initiative, and power generation. Plastics Recycling The solid waste in Nigeria has a strong value. But to extract this value, there is need for strong infrastructure investment by government such as Multi-Purpose Recycling Facility (MRF) and an anaerobic digestion for the processing of organic waste, tyre recycling, and plastics recycling. These infrastructural investments should be established in major zones across to process and treat wastes generated in each zone with a drive to produce useable products for the country. This effort when implemented, is expected to help reduce the amount of waste lost through burning, burying and poured into the ocean, rivers and lakes. Countries that are in plastics recycling are the products recycled to support their economies and generate through sales. While other countries are focused on buying wastes from countries for recycling to produce usable commodities. Nigeria cannot be left out, there should be commitment and sincerity of purpose from government not just to curb the effect of waste to tap into plastics recycling. Renewable Energy Generation Countries are recycling wastes to produce renewable energy. This helps to support many economies in the area of power generation and reduces the burden of electric power as the only of source electricity. For instance, a particular company in the United Kingdom known as Focsa Services UK recycles one million tonnes of wastes yearly to generate more than 44 megawatts of renewable energy and employs 2,200 workers. While Lagos according to WAMASON generates 13 million metric tonnes of waste without nothing to show for, but if there is state and federal government focus in this area, it will be effective in addressing the country’s power problem by providing alternative source of power. This would impact positively on industries and companies by reducing the cost of production and encourage other investors to invest in the economy. Employment Generation There are opportunities for direct and indirect employment for individuals in the waste
management value chain such as collection from point of generation, recycling, and waste treatment. Stakeholders have suggested that if government establishes a recycling plant in each its zone across the country, it is capable of providing employment opportunities to the teeming population of the country. They also argued that individuals can setup sorting/collection hubs where the pickers submit the waste collected and they get paid. They explained that if government increases its focus in this area, private waste treatment facilities can spring up which would employ more people, thereby reduce the unemployment swell in the market. Plastic Pollution and UN Warning According to the United Nations Environmental Programme (UNEP), up to 80 per cent of all litter in our oceans is made up of plastics, adding that at the rate which people are dumping items such as plastics bottles, bags, cups and straws after a single use, by 2050 there could be more plastics in the oceans than fish. The caution was a charge to nations around the world to play its role in reducing the increasing pressure of pollution on marine life from land-based sources.
With the large volume of waste generated in the country, the expectation is that Nigeria should focus its attention on efforts aimed at converting these wastes to wealth to boost revenue generation
UNEP estimated that 15 per cent of marine litter floats on the sea’s surface, while another 15 percent remain in the water and 70 per cent rests on the seabed. A study revealed that 5.25 million plastic particles, weighing 268,940 tonnes in total, are currently floating in the world’s oceans. With the increasing rise of marine pollution, the MacArthur Foundation in a study noted that the world is producing 20 times more plastics than 40 years ago. The negative effect is that yearly more than eight million tonnes of plastic end up in the oceans, causing damage to marine wildlife, fisheries, tourism and marine ecosystem. The study further sheds light on the fact only less than 14 percent of all plastics are recyclable and there is need to setup through technology a mechanism to deal with the remaining 86 percent which could create $80bn-$120 billion in revenues. Over 80 per cent of marine pollution comes from land-based activities. These include plastic bags, water bottles, cups, cans and other debris which enter the ocean through deliberate dumping or run-off through rivers and drains. In order to properly understand the issue of plastic pollution especially from a Nigeria perspective, THISDAY spoke to a Lagos-based scuba diver, Bolaji Alonge. As a diver, he has been involved in diving voyages in the Mediterranean Sea, Red Sea, the Gulf of Oman and others. His experience about underwater voyage has left a sad taste in mouth. He noted that there is a huge deposit of waste in the ocean which constitutes a big threat to the survival of marine life. He explained that the Professional Association of Diving Instructors (PADI) is playing its part in cleaning the bottom of the ocean with a team of divers carrying sacs, lamenting that the attitude of the people towards waste disposal has to change if the country is committed in addressing plastic pollution. Alonge, stated that people are not concerned with the way they dispose waste, adding that there is need for concerted effort from the government towards banning plastics, thereby reduce the use of plastics, “plastics production companies should engage in recycling.” He said, “Government should encourage renewable energy and recycling. Government should setup a location in a Local Government Area for the collection of plastic bottles.
“PADI as an association is focused at cleaning the ocean with a team of divers around the world. I am not aware if we are doing that here in Nigeria yet. Companies should encourage people to recycle, educate them and give them small incentives. “Plastic companies should engage more in recycling activities, and for those that are already doing it they should step it up. They should help to clean up the environment and come with initiatives aimed at addressing plastics pollution. We should ban plastic usage because this will help to reduce it in Nigeria.” Another individual passionate about the issue curbing plastic pollution in the country is the founder of Kids Beach Garden, Doyin Ogunye. She is dedicated to teaching children about their environment and their role in giving back. She said that She stated that in addressing this issue of plastic pollution, what is required is reorientation and best practices, stating that 10 years ago, there was more sea shells than plastics bottle tops, “but now, we are counting more bottle tops, so that tells you that pollution has taken over.” Ogunye explained that the country doesn’t need to wait till 2050 to agree with the UN declaration that there would be more plastics in the ocean than fishes, noting that people should desist from the habit of people blocking the drainages with plastics and plastics production companies’ needs to be more responsible for the waste they are generating. According to her, “The plastics production companies needs to be more responsible for the waste they are generating. “Plastics companies need to ensure that people are recycling. They should embark on promotions that will encourage people to recycle plastics. This is a major challenge that we need to deal with. I feel there is no seriousness on the path of government to address this issue. “This issue is something if we don’t tackle, it will affect everyone. I want to call for a ban on single use plastic bottles, companies that produce it should be heavily tasked and people who use it should be heavily tasked. We need to tackle this issue from all ends. Bio-degradable and other materials are also useful alternatives.”
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Edo Govt., Experts Begin Work on New Environment Policy Adibe Emenyonu in Benin City Stakeholders and environmental experts have committed to developing a sustainable environment policy that will harmonise the agricultural, water and energy sectors in Edo State, and prepare the state for implementation of the Paris climate change agreement. This was the resolution at the Stakeholders’ Meeting for Edo State Environment Policy, organised by the state government with support from the United Nations Industrial Development Organisation (UNIDO), at Government House, Benin City, the Edo State capital, recently. The UNIDO National Consultant, Dr. Eugene Itua, assured the state government of support in attaining the sustainable development goals (SDGs), especially as it affects environmental issues. He said, “We are here to develop a more cohesive policy that will support every sector of the state, as the environment forms the bedrock of our society.” He noted that the stakeholders’ meeting is geared towards developing an environmental policy that would drive sustainable development. According to Itua, “over the years, Edo state government
has demonstrated willingness to support a healthier and friendlier environment. It is clear that for the implementation of various policies on the environment, there is need for cohesion, where it appears the institutions or policies appear weak.” “We are here to develop such a policy that will improve the agricultural, water, energy sectors. This would also help to tackle environmental pollution and to reinforce what the entire world came together to develop with the agenda 2030 and Paris Climate Change agreement. The governor recognises this very well and his dream is to see that we exploit resources in the state for the benefit of all,” he added. Itua assured that policies stemming from the meeting would be dutifully implemented, adding that it would help the government drive her developmental goals. Permanent Secretary, Ministry of Environment and Sustainability, Bright Emoedume, said the UNIDO assistance to Edo would ensure that environmental policies are viable and sustainable. Emoedume noted that the meeting was aimed at developing a well-coordinated policy that is adaptable to the challenges in the state.
FCMB Promotes Tourism First City Monument Bank (FCMB) Limited has urged Nigerians to sustain the country’s cultural heritage in order to boost tourism and its associated benefits. According to the bank, this would go a long way to educate and inspire generations about the history of the country, the people and values, while also fast-tracking the ongoing efforts of the government to diversify the economy. FCMB stated this in a statement to announce the commencement of activities to celebrate this year’s Ojude-Oba Festival, scheduled to hold on August 24, 2018. The bank has over the years had been a major sponsor of the festival and has continued to play a significant role in ensuring its success. For this year’s festival, FCMB assured its stakeholders of an exciting and rewarding experience, including excellent products and services on offer, for the thousands of people within and outside the country that would grace the fiesta. The Ojude Oba (which in Ijebu dialect means, the king’s fore-court or frontage), is a major festival in Nigeria that began over 100 years ago. It brings together all sons and daughters of Ijebuland in Nigeria and diaspora for a carnival-like celebration of the traditional, cultural, spiritual accomplishments and other values of the Ijebu nation. During the festival, various age groups (popularly known as the Regberegbes), indigenes, their friends and associates from far and near - all in their colourful costumes and
riding on horses - throng the palace of the Awujale and Paramount Ruler of Ijebuland to pay homage to him amidst prayers and other fun-filled activities. In a goodwill message to the Awujale of Ijebuland, Oba Sikiru Adetona on the occasion of this year’s Festival, the Founder of the FCMB Group, Otunba Olasubomi Balogun, expressed gratitude to the traditional ruler of Ijebuland. In the message delivered on his behalf by the Group Head, Corporate Affairs of the Bank, Mr. Diran Olojo, Balogun commended Adetona for his, “distinguished and exemplary leadership over the years which has continued to endear you to all of us’’. He stated that, “I sincerely appreciate the amazing grace of the same Almighty God we share together, much more for sparing our lives to celebrate yet another Ojude Oba Festival. “The festival provides us- all your children and subjects, the period when we gather to pay you homage and demonstrate our affection for a very unique monarch, an exceptional father figure and the Paramount Ruler who has continued to endear himself to his people. “Apart from being the Olori Ebi (the head of the family, by the grace of Almighty God and interestingly not in contest by all who admire the grace of our God), as your Olori Omo-Oba (the head of princes and princesses), I will continue to lead the way in showing our appreciation by being very close to you and showing my total loyalty to you’’.
W’Bank: Investing in People Will Build Human Capital Ugo Aliogo Scientific and technological advances are transforming lives: they are even helping poorer countries close the gap with rich countries in life expectancy. But, poorer countries still face tremendous challenges, as almost a quarter of children under five are malnourished, and 60 percent of primary school students are failing to achieve even a rudimentary education. In fact, more than 260 million children and youth in poorer countries are receiving no education at all. There is a moral case to be made, of course, for investing in the health and education of all people. But there is an economic one as well: to be ready to compete and thrive in a rapidly changing environment. Human capital – the potential
of individuals – is going to be the most important long-term investment any country can make for its people’s future prosperity and quality of life. Governments have long invested in economic growth by focusing on physical capital — roads, bridges, airports, and other infrastructure. But they have often under-invested in their people, in part because the benefits have been much slower and harder to measure. Hence, as World Bank Group President Jim Yong Kim noted recently in Foreign Affairs, the world today faces a “human capital gap.” In many countries, the workforce is unprepared for the future that is fast unfolding. This is a key insight from the World Bank’s forthcoming World Development Report 2019: The Changing Nature of Work. The frontier for skills is moving faster than ever before.
Firm Reiterates Commitment to Healthy Living Raheem Akingbolu West African Seasoning Company Limited and makers of Aji-no-moto seasoning products has reiterated its commitment to healthy living, stating that monosodium glutamate is good for consumption. Speaking at the factory tour and unveiling of popular comedienne, Helen Paul, aka Tatafo, and professional chef, Miyonse Amosu, as ambassadors for Aji-no-moto Umami seasoning, the Managing Director of the company, Junichi Niki, said the duo would be the new face of the brand connecting with consumers and deepening public awareness on the benefits of the brand. Niki said, “MSG, based on scientific findings, is 100 per cent safe for consumption. “For over a century now, MSG has been used to add Umami, the fifth basic taste, that enhances taste and make dishes more delicious since it was discovered in 1909. “MSG is present in most natural foods such as meat, seafood, vegetable, cheese and milk. “Umami is a universal taste. “As a food company, we have been in Nigeria since
1991 distributing nationwide. “Over the years, we have grown, especially in the Northern area, and so we want to renew our strength in the Southern areas of Nigeria to complement our efforts in the North.” Isa Hassan Shallangwa, Head of Marketing at Ajinomoto, spoke on the global consumption of the seasoning product. Shallangwa said, “According to the Longman dictionary, Umami is having a strong pleasant taste that is not sweet, sour, salty, or bitter, especially like the tastes found in meat, strong cheese and tomato. “Umami taste is a member of the five basic tastes (alongside with sweetness, sourness, saltiness and bitterness. “The safety of umami substance has been approved by authorities all over the world such as in the USA, EU, Australia, Japan, and also by NAFDAC in Nigeria. “The benefit of the product includes enhancing and promoting the deliciousness of our meals, it is economical, it reduces salt intake and it is rich in glutamate one of the free amino acids,” he stated
Countries need to gear up now to prepare their workforces for the tremendous challenges and opportunities that are being driven by technological change. But without an urgent and concerted global effort to build human capital, vast numbers of people and entire countries are in danger of being excluded from future prosperity. Governments have a critical role to play in transforming human capital, because poverty, inequality, and other disadvantages hinder many families from investing in their children’s health and education. This urgent challenge is why President Kim has put the full backing of the institution behind a new Human Capital Project. The World Bank Group is committing to help countries prioritise human capital in a sustained way, given the
deepening recognition that jobs and skilled workers are key to national progress in countries at all income levels. There are three main objectives: first, to build demand for more and better investments in people; second, to help countries strengthen their human capital strategies and investments for rapid improvements in outcomes; and third, to improve how we measure human capital. The new Human Capital Index, to be released at the World Bank’s Annual Meetings in October, will support all three objectives and offer a crucial resource for both governments and citizens. It will help measure productivityrelated human capital outcomes such as child survival, early hardwiring of children for success, student learning, and adult health.
Rotary Club Takes CSR Initiative to Onikan Hospital To kick off the execution of its star project, the president, Rotary Club of Lagos, Ehi Braimah, recently led club members to Onikan Health Centre and Maternal Hospital, for the donation of medical equipment. This, Braimah said was part of fulfilling the club’s Corporate Social Responsibility (CSR). “Whatever we can do in the area of child and maternal care can never be enough, hence there is a need for continues effort to ensure that lives are not lost in the process of childbirth.” The Acting Deputy Medical Director of Onikan Health Centre, Ademuyiwa Olarewaju, said the gesture by the club would go a long way in maintaining the standard of the hospital as well as save the lives of children and their mothers “As little as a blood pressure machine can cause death if not available when needed. It is encouraging to know that individuals could come together and help donate to the cause of maintaining a government-owned facility.” In response to the question of maintenance of the new equipment, Olarewaju, said the hospital has an engineer who
deals with day-to-day hospital equipment maintenance. The items donated included an extended collapsible stretcher, nebulizer machine, suction machine, adult weighing scale, digital sphyg, amongst others. In attendance was the District Governor, District 9110, Rotary International, Kola Sodipo, in his first official assignment after his recent instalment this month. Sodipo, said it is the duty of every Rotarian to be an inspiration to others, by doing good always. “There are various challenges facing mankind, but as a club we focus on disease prevention and treatment, welfare and sanitation, maternal and childcare, basic education and literacy, economic and community development, getting helpless children off the street and finally in the area of peace and conflict resolution, those are some of the ways we can be inspire members of the society.” The club also recognised the MD/CEO, Idea House Marketing Communications Limited, Kehinde Salami, with an award for donating 500 treated mosquito nets, worth N1 million to help meet the club’s intention of giving out 1,000 mosquito nets to hospitals
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HEALTH&LIFESTYLE
Group Features Editor: Chiemelie Ezeobi Email chiemelie.ezeobi@thisdaylive.com, 07010510430
Lagos Community Where Pregnant Women Opt for Unorthodox Antenatal Rebecca Ejifoma, who recently visited the Irede riverine community in Lagos, writes that pregnant women practice unorthodox self-antenatal and make use of traditional birth attendants for delivery because of lack of any hospital or health centres
Some of the nursing mothers and pregnant women of Irede Community
A
bike Ahmed is an expectant mother, who is six months gone already. In those six months, Ahmed has not visited a hospital for the much needed ante-natal or a health centre. As one of the inhabitants of Irede community, a riverine community at Abule-Osu, which is off the Lagos-Badagry Expressway, she is today still coping without a health facility. For her, she combines both orthodox and traditional methods simultaneously. Although she registered at the Ojo General Hospital, she has never visited for antenatal care because of the distance from her place of residence. She said, “There is no hospital here at Irede. Although I registered at Ojo Hospital, but I go to one mama’s place and she gives me ‘agbo’ (a local herbal concoction) to drink for my baby.” On what she would do if labour pangs begin at night, she said there are traditional birth attendants in the community who are ever ready to help birth the baby. She said, “I don’t pray it starts at night. Since I had my first two children during the day, but if it does, I have help ready.” According to the recommendation by the United Nations Children’s Fund (UNICEF), 65 per cent of pregnant women between 15 and 49 years old should have access to antenatal care with the present of skilled birth attendant. For expectant mothers at the Irede community, that statistics certainly do not apply to most of them, as they often indulge in self-care and delivery. It is pertinent to note also that statistics has stated that Nigeria is number one leader of maternal deaths worldwide with 576 deaths from every 100,000 live births. According to the University of Lagos Resident Doctor, Dr. Olufunke Olamigoke, at a recent media roundtable in Lagos, preventive measures must be put in place against maternal deaths, which includes encouraging women to attend and attempt to deliver at hospitals. She said, “Only
PHOTOS: Rebecca Ejifoma
one third go for delivery after antenatal, which is skilled care during pregnancy and childbirth, emergency obstetric care and immediate post natal care”. Also in the same forum, BudgIt Project Officer, Agunloye Oyebola, had lamented that globally, it has been estimated that about 350,000 women die yearly of preventable complications during childbirth daily, which approximates to 2,300 under-five years olds and 145 women of childbearing age in Nigeria. Therefore, it is quite sad that in this time and age, and despite recommendations from UNICEF, antenatal care and the presence of skilled health personnel at delivery, which
I don’t attend antenatal. I had my third and fourth babies inside my house by myself. On the day of delivery, my co-wife simply helped me cut the placenta. Not that she is a nurse, but she did it because the baby was already out
are essential for eliminating maternal death, is still a mirage for the Irede women.
Lack of Primary Health Centre
Unlike Ibeshe, Ilashe and Makoko riverine communities in Lagos, Irede community is rather clean and almost spotless with white sands. It has buildings too, like in urban areas. It is a journey of 10 minutes’ by wobbling boat on murky waters. The community inhabits about 3,000 dwellers and comprises three communities including: Irede, Ikaree and Iyeghe. Located at Abule-Osun area of Lagos-Badagry Expressway, Irede community once had a dispensary, which was built between 1979 and 1980 during the administration of Lateef Jakande. Moves were made to turn it into a Primary Health Centre (PHC) but that dream never materialised till date, as it remains uncompleted and deserted save for reptiles and human waste. As it is, there is no functioning PHC to provide health services to pregnant women and nursing mothers with antenatal care, delivery, postnatal and family planning.
Unorthodox ante-antenatal
Undoubtedly, Irede is faced with numerous health challenges, chief of which is the lack of primary health centre or health workers. So, pregnant women and nursing mothers patronise Iya-Alagbo, a Yoruba parlance for Traditional Birth Attendants. Others simply practice self-care until their delivery, which is often times done in the comfort of their homes. Like Ahmed, like Fatima Saliu, is a mother of four, whose last baby is six months old now. According to her, she had her first and second children under the care of an auxiliary nurse at Ojo area, near her mother’s residence, while she had her third and fourth babies at home. She said, “I had my third and fourth babies inside my house by myself. On the day of delivery, my co-wife simply helped me cut the placenta. Not that she is a nurse but she did it because the baby was already out.”
When asked if she ever went for antenatal, she said her husband wouldn’t give her money for it. “Sincerely, I didn’t. I went for antenatal during my first pregnancy only. The reason is that ever since I had a little problem with my husband, he stopped giving me money for antenatal care. That’s why I didn’t look at that side. It is only God that is helping me”, she disclosed. Now, despite her preference for home delivery, the mother of four said she always takes her kids for immunisation. She said, “I only take them to the hospital for immunisation but that is whenever I go to my mother’s place at Ojo. But sometimes health volunteers come here to immunise our babies”. But if her last experience with health workers was anything to go by, her tentative touch with orthodox medicine might have come to an abrupt end. Reminiscing, she said some health workers had visited and immunised her baby. She said to their immediate concern, a day after the immunisation, the baby’s arm became swollen. “People advised I take the child to Ori-Ade. We went there with no tangible result so we moved to the health centre at Ojo road. It took about two weeks before my husband opened the swollen arm with razor blade to drain the bad blood”, she said. The case of Kate Felomo, a 27-year-old mother of two- a three-year-old and a nine month old – is no different. Although she admitted to going to the hospital for delivery, she however said she skipped out the antenatal part. She said: “I have never attended antenatal before. For my first baby, I just waited until the ninth month when I gave birth. But I delivered my second child at a hospital across the water within an hour.” Confirming what other mothers had said, Felomo said given the lack of health centres, she always relies on medical outreaches by organisations and religious bodies to immunise her kids. “Sometimes, people come here for medical outreaches every month. If there is
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HEALTH LAGOS COMMUNITY WHERE PREGNANT WOMEN OPT FOR UNORTHODOX ANTENATAL need, they give us drugs. Since I had my baby, I have not been to the hospital”, she disclosed. Adegboyega Opeyemi is another mother of two. Her babies are aged two years and nine-months old. She had her baby in church. “It was on a Sunday. I was in church when labour began. Thank God as with the help of my church members, I had my baby right there.” But for the impromptu delivery at the church, Opeyemi entrusts her pregnancy with a TBA, where she gets agbo (local medicine). She added: “I registered at Iya Alagbo (TBA) where I had antenatal. The ‘agbo’ woman takes 100 naira only for test. When you go to register, you pay about 3500 naira for registration, card and everything.”
Zero Awareness about Family Planning
Surprisingly, Felomo doesn’t know a thing about family planning in this age and time. All she knows is that she is having her babies. “I don’t know anything about family planning. No one has talked to me about spacing my children.” She is not alone in this. For 30-year-old Isa Nofisat, who is six months pregnant with her third child, told THISDAY she had her babies across the water. Really, she goes by boat to have her babies given that most of the residents are boat owners. She said, “My husband would knock at their doors to hire a boat. The fare is N1,000 for hire but 500 if you plead with them. There are also motorcyclists here to carry us.” Interestingly, Nofisat has an excellent way of spacing her babies. Although she knows next to nothing about family planning, her perfect method will startle you. She said, “I don’t know about family planning. But since my home town is Kogi, I go there to stay for a very long time after child birth. That is how I space my babies who are aged five and three years old.” Although these women had safe deliveries in the end, notwithstanding, they missed out on the many benefits of antenatal care which includes understanding warning signs during pregnancy and childbirth, how to prevent eclampsia, HIV testing, free drugs and insecticides treated nets among others.
Basic Needs
Asides the PHC, for the Irede community, their basic needs are not far-fetched. According to the former Chairman, Amuwo Odofin Local Government Area (1999 to 2002) and former chairman Ori Ade LCDA, Mr. Saliu Sekoni, he used to send manpower to man the dispensary then. He said, “There was a dispensary here built in the days of Jakande’s administration in Lagos. It was not very functional until the 1999 when a son of the soil was in the Amuwo Odofin LGA, at 41 Road. We had one LGA sending nurses twice a week to dispense drugs to the community, women and children.” He added that during the tenure of his successor, Tunde Sanusi, there were plans to upgrade the dispensary centre to a PHC. So, the dispensary was demolished and this structure began but was later abandoned. He said, “Till date, the construction is incomplete and that means health system here has not been working. What does it portend for this community, particularly when it comes to maternal and child health?” Sekoni, however, commended the TBAs, whom he described as very active in preventing maternal health issues. He said, “We have not recorded any scene of such in this particular village ever since my growing up days. “Truly, the PHC, which is meant to serve Irede and Ikaare if completed, will come really handy for the residents. Right now there is no PHC that pregnant women can access except Ibeshe, which is 10 minutes boat ride from here.” Another need of the community is lack of potable drinking water. According to Sekoni, they don’t have pipe borne water, rather they use wells and boreholes. He added that although the water is seemingly clean, they need to visit a laboratory to confirm that. Another challenge facing the community is High Blood Pressure (HBP) and other chronic illnesses. Lending her voice, daughter of the late Oba, Asisat Adebisi Lawal, said Irede people do not know their health statuses till date. She said, “Most of our people are battling with high blood pressure, high cholesterol and all those kind of internal illnesses. And quack doctors come here, all they care about is what they will make, they don’t refer them to hospitals.” Regrettably, she said the community lost a woman to HBP. She said, “Those doctors, who come for the medical outreach would claim they have checked the resident’s and they will prescribe drugs, claiming that their blood pressure is high. Despite that, we lost a lady
The uncompleted and abandoned PHC
about a year ago. She died out of ignorance because she had HBP. “The ‘fake’ doctor that always checked on her gave the deceased medications. Her blood pressure was 240/180. By the time she was about to give up she was paralysed and in less than few hours, she died. And there are a lot of people in this environment going about with HBP but don’t know”. When asked her reason for tagging the medical experts quacks, she expressed that her suspicions led to the arrest of one. “I interviewed them on where their hospital was. If you are a genuine doctor, you will show your ID card. One of them has been arrested.” Another health challenge facing the community is malaria. However, this issue is prevalent among children in the community. Lawal said although there isn’t much mosquitoes at Irede when the body of is full, she added that when the water dries up, the insects have a field day. Another challenge facing the community according to Sekoni is lack of electricity. He said, “As I said earlier, the current chairman of the LGA has promised to give priority to this PHC. Besides that, we need the government to intervene on the crazy bill of 250,000 naira PHCN gave us.” In the same vein, Lawal cited lack of proper sanitary facilities, as most families go to the sea-side and at midnight, they use buckets inside their room. With these, therefore, residents including pregnant women and nursing mothers plead for express completion of the PHC and equip it with drugs.
I have never attended antenatal before. For my first baby, I just waited until the ninth month when I gave birth. But I delivered my second child at a hospital across the water within an hour
One of the nursing mothers, Adegboyega Opeyemi and her baby
Hope in the horizon
Like the rainbow, which foretells the promise of rain, there is hope in the horizon for this community and so many others like it. This is because the federal government has made good its promise to promote PHCs and have assured that funds to power such health centres are released. This promise was the aftermath of the series of the stakeholder’s health dialogue, which has been championed by THISDAY Newspapers. At the policy dialogue initiated by THISDAY, Vice President Yemi Osinbajo said the disburse-
ment of the Basic Healthcare Provisions Fund will commence in August. This is a welcome development for the health sector because when the senate earmarked N57.15 billion in the national budget for the Basic Healthcare Provisions Fund (BHCPF), in May this year, it looked like a tall dream until the dialogue initiated the fulfillment. With the release of the funds, many stakeholders in the health sector believe this is the beginning of new things for less privileged and vulnerable Nigerians, and alas might prove to be the solution needed by the Irede Community.
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BUSINESS/MONEYGUIDE
BoI, GEEP to Boost SMEs With ‘Trader Moni’ Initiative Sunday Okobi An Executive Director at the Bank of Industry (BoI), Toyin Adeniji yesterday restated the commitment of the bank to see that all willing Nigerians have access to SME loans irrespective of their status or level of education in the society. Adetunji stated this while speaking at the unveiling of ‘Trader Moni’ initiative at Ojuwoye market in Lagos, disclosing that the programme which is activated nationwide would support two million Nigerians to grow their businesses successfully. She noted that the goal of the scheme was to take financial inclusion down to the grassroots. According to her, “the President Muhammadu Buhari-led administration recognised the contribution of petty trading
to economic development and identified the fact that some of them may not have what the commercial banks may require to grant loan, so he supports this initiative to help them grow their business. “This ‘Trader Moni’ initiative is a mobile phone-driven. After your details have been captured by agent and sent to BoI system for validation, within 48 hours, you will get cash notification in your mobile wallet account. You can either transfer the cash to your bank account or cash it out in any mobile money agent around. “At the beginning, you can access N10,000 and pay back N10,250 to qualified for N15,000. Once you can pay back N15,375, you are qualified for N20,000 loan, and when you pay back N21,000, you will get a loan of N50,000. All these stages have
duration of six months interval to pay back.” The BoI chief stated further that, “If you wish you can pay back before six month grace elapsed, you can access bigger loan. To pay back, just enter some of the banks we have partnership with such as Fidelity, Wema Bank, GT Bank, UBA, Heritage Bank, Stanbic Bank, Sterling Bank, Union Bank and Jaiz Bank, and key in with an agent that you want pay BOI- Government Enterprise and Empowerment Programme (GEEP) loan for PayDirect.” Corroborating Adetunji’s view, the Chief Operating Officer, Government Enterprise and Empowerment Programme, Mr. Uzoma Nwagba, said the GEEP has three products Farmer Moni for farmers which avail them opportunity to access up to N300,000 loan each.
Access Bank Introduces WhatsApp Banking Access Bank Plc said it has deepened its commitment towards providing easy banking experience to customers by leveraging WhatsApp social media platform to bring its Banking Relationship Managers closer to its customers. According to the bank, its customers can now use the bank’s mobile app, Access Mobile, available on IOS and Android platforms, to effortlessly engage their Relationship Managers in the provision of customised and responsive banking services, using the
WhatsApp messaging feature on the platform. The service, the bank revealed in a statement, was launched in April 2018. According to Access Bank’s GMD/CEO, Herbert Wigwe, the initiative was developed in line with the bank’s vision to change the face of banking on the continent by leveraging innovation and technology, while ensuring that customers are provided with the opportunity to enjoy ease of access and engagement in their banking transactions and maximise their financial opportunities.
He stressed that the three core values - speed, service, and security - upon which the Bank remains steadfast, requires a high level of innovation and thought leadership which again is demonstrated with this WhatsApp feature. “Driving customer intimacy and providing engaging and convenient access to financial services across all channels remain a key focus area for us and we will continue to drive and implement solutions to provide a best in class service for our customers”, Wigwe stated.
Skye Bank’s Merchant Wins Award Skye Bank mCash Merchant, Sulaiman Gidado, has emerged one of the top performing agents in the country. The Nigeria Inter-bank Settlement System (NIBSS), made this known when it identified Suleiman as one of the top mCash merchants at the mCash relaunch which held in Lagos recently. Part of the renewed efforts to further drive financial inclusion in line with the Central Bank of Nigeria’s (CBN) mandate, NIBSS, in collaboration with banks, financial regulators, leading telecommunications companies and merchants witnessed the re-launch of the payment solution.
A statement from the bank yesterday, quoted its Head of e-Business, Akinwale Ojo, to have described mcash as an innovative solution targeted at low-value retail payments He further stated that, “The intention of mCash is to create enhanced opportunity for people who rely mostly on cash to find convenient means of making payments electronically thus further enabling financial inclusion in Nigeria.” On his part, the Managing Director/Chief Executive Officer, NIBSS, Adebisi Shonubi, said NIBSS partnered banks, telecommunication companies, financial regulators, and
merchants on the initiative to further drive financial inclusion. Shonubi stated that “the relaunch, which is in line with the CBN renewed efforts at driving financial inclusion was the rolling of agency networks involving the banks, telcos and merchants, and is thus ecosystem driven.” According to the NIBSS boss, “in the next two years, the plan is to have 500,000 agent networks that will provide financial services as well as educate and inform people on how the platform works. The mCash utilises Unstructured Supplementary Service Data, USSD code in payment processing.
Phillips Consulting Partners Intellect to Develop Banking Solution for Nova Merchant Bank Phillips Consulting Limited (PCL) has announced that it recently partnered with Intellect Design Arena Limited to develop and jointly implement a new digital banking platform called Intellect Digital Core Banking Solution. The firm explained that the new digital banking solution was developed to accelerate the digital banking and channel transformation journey of Nigerian banks. “Nova Bank, a newly licensed merchant bank with a focus on wholesale and investment banking, is the first in the country to adopt this innovative technology,”the statement added. Intellect Digital Core Solution comes with a Digital 360
proposition with inbuilt design for both Digital Outside and Digital Inside. Digital Outside ensures True Omni channel and consistency of customer experience at all touch points while Digital Inside drives operational excellence. Completely flexible and scalable, the Intellect platform is built around customer experience. The partnership between both parties, allows Phillips Consulting’s own Fintech Consultants to render on-going support to financial institutions post-implementation. Senior Partner at Phillips Consulting, Mr. Seun Ngonnase said, “implementing the core banking solution will save time and resources.
“In today’s world, banks require a single, seamlessly integrated global payments system for domestic and crossborder transactions. This system must eliminate manual tasks and enhance interoperability. “Implementing Intellect’s Core Banking platform will save time and money for the bank while providing value-added services to their customers. The whole idea is based on the concept of Contextual Banking; customers should bank in the way they want to and how they want to.” As the first bank in Nigeria to use the solution, the Chief Executive Officer of Nova Merchant Bank, Mr. Chinedu Ikwudinma, was quoted in the statement to have explained,
L-R: Permanent Secretary, Lagos State Ministry of Science and Technology, Mr Olukayode Ogunnubi; Commissioner, Mr Hakeem Fahm; Department Director, Asseco, Poland, Mr Zdzistaw Wiater; Chief Executive Officer, Asseco Nigeria, Mr Simon Melchior and Architect, Asseco Poland, Mr Tomasz Mosiej, during the delivery of an unmanned aerial vehicle simulator in Lagos…recently ETOP UKUTT
MARKET INDICATORS MONEY AND CREDIT STATISTICS
(MILLION NAIRA) 2018
Month
MARCH
Broad Money (M2)
24,303,049.86
-- Narrow Money (M1)
10,912,604.10
---- Currency Outside Banks
1,668,378.21
---- Demand Deposits
9,244,225.90
-- Quasi Money
13,390,445.76
Net Foreign Assets (NFA)
15,619,134.18
Net Domestic Assets(NDA)
8,683,915.68
-- Net Domestic Credit (NDC)
26,267,136.53
---- Credit to Government (Net)
3,823,345.45
---- Memo: Credit to Govt. (Net) less FMA
5,433,209.43
---- Memo: Fed. and Mirror Accounts (FMA)
-1,609,863.98
---- Credit to Private Sector (CPS)
22,443,791.08
--Other Assets Net
-17,583,220.85
Reserve Money (Base Money)
6,746,646.49
--Currency in Circulation
1,668,378.21
--Banks Reserves
4,357,551.58 • Source - CBN
MANAGED FUNDS Month Inter-Bank Call Rate
MARCH 15.16
Minimum Rediscount Rate (MRR) Monetary Policy Rate (MPR)
14.00
Treasury Bill Rate
11.84
Savings Deposit Rate
4.07
1 Month Deposit Rate
8.82
3 Months Deposit Rate
9.72
6 Months Deposit Rate
10.93
12 Months Deposit Rate
10.21
Prime Lending rate
17.35
Maximum Lending Rate
31.55 • Monetary Policy Rate - 13%
OPEC DAILY BASKET PRICE AS AT, TUE, 7, AUGUST , 2018 The price of OPEC basket of fifteen crudes stood at $72.58 a barrel on Tuesday, compared with $72.27 the previous day, according to OPEC Secretariat calculations.. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela). SOURCE: OPEC headquarters, Vienna
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MARKET NEWS
GTBank Posts N109bn Profit, Recommends N8.8bn Interim Dividend Goddy Egene and Nosa Alekhuogie
billion, which translates to 30 kobo per share. GTBank posted gross earnings of N226.6 billion, showing an increase of f 5.9 per cent from N226.6billion in 2017. Profit before tax stood at grew by 8.4 per cent to N109 billion, compared with N101 billion in 2018, while profit after tax (PAT) grew faster by 14.2 per cent from N83.679 billion to
Guaranty Trust Bank Plc yesterday released its audited financial results for the half year(H1) ended June 30, 2018, showing positive performance across all financial indices. The board of directors of the bank also recommended an interim dividend of N8.8
N95.582 billion. However, the bank’s loan book dipped by 10.8 per cent from N1.449trillion recorded as at December 2017 to N1.293trillion in June 2018, while customers’ deposit grew by 10 per cent to N2.269trillion from N2.062trillion in December 2017. Its balance sheet remained
strong with a 5.9 per cent growth in total assets of N3.549trillion and shareholders’ funds of N497.1Billion. In terms of assets quality, non-performing loan (NPL) ratio improved to 5.8 per cent in June 2018 from 7.7 per cent in December 2017. Capital remains strong with CAR of 22.04 per cent in spite of the implementation
PRICES FOR SECURITIES TRADED AS OF
of IFRS 9. On the backdrop of this result, post- tax return on equity (ROAE) and return on assets (ROAA) closed at 34.1 per cent and 5.5 per cent respectively. Commenting on the financial results, the Managing Director/CEO of GTBank Plc, Mr. Segun Agbaje, said: “In spite of declining yields and the challenges in the
operating environment, we have delivered a decent half year result. The quality of this result is built on the strength of our businesses as well as the success of our digital-first customer-centric strategy in delivering financial services that are simpler, cheaper and more valuable to our customers’ everyday lives.”
A S AT 2 5 / 0 7 / 2 0 1 8
Price List (Equities) PRICES FOR PREMIUM BOARD SECURITIES FINANCIAL SERVICES
S/N 1 2 3 BANKING S/N 4 OTHER FINANCIAL INSTITUTIONS FINANCIAL SERVICES INDUSTRIAL GOODS S/N 5 6 BUILDING MATERIALS INDUSTRIAL GOODS OIL AND GAS S/N 7 EXPLORATION AND PRODUCTION OIL AND GAS PREMIUM BOARD TOTALS Price List (Equities) PRICES FOR MAIN BOARD SECURITIES AGRICULTURE S/N 8 9 10 CROP PRODUCTION S/N 11 FISHING/HUNTING/TRAPPING S/N 12 LIVESTOCK/ANIMAL SPECIALTIES AGRICULTURE CONGLOMERATES S/N 13 14 15 16 17 DIVERSIFIED INDUSTRIES CONGLOMERATES CONSTRUCTION/REAL ESTATE S/N 18 BUILDING CONSTRUCTION S/N 19 20 INFRASTRUCTURE/HEAVY CONSTRUCTION S/N 21 REAL ESTATE DEVELOPMENT S/N 22 23 24 REAL ESTATE INVESTMENT TRUSTS (REITS) CONSTRUCTION/REAL ESTATE CONSUMER GOODS S/N 25 AUTOMOBILES/AUTO PARTS S/N 26 27 28 29
BANKING ACCESS BANK PLC. UNITED BANK FOR AFRICA PLC ZENITH INTERNATIONAL BANK PLC OTHER FINANCIAL INSTITUTIONS FBN HOLDINGS PLC
MARKET CAP(Nm) 290,726.11
10.05
0.50
TRADES 121
VOLUME 39,218,652
30 BEVERAGES--BREWERS/DISTILLERS S/N
324,894.50
9.50
3.83
164
51,696,669
729,968.48
23.25
0.65
334
20,395,987
619
111,311,308
32
PRICE %CHANGE
TRADES
VOLUME
33
269
88,103,288
34
269
88,103,288
888
199,414,596
TRADES
VOLUME
71 171 242 242
1,566,520 3,389,126 4,955,646 4,955,646
TRADES
VOLUME
MARKET CAP(Nm) 337,415.75
MARKET CAP(Nm) DANGOTE CEMENT PLC 4,004,519.24 LAFARGE AFRICA PLC. 238,519.28
BUILDING MATERIALS
EXPLORATION AND PRODUCTION SEPLAT PETROLEUM DEVELOPMENT COMPANY LTD
PRICE %CHANGE
MARKET CAP(Nm) 382,488.96
9.40
2.17
31
35 36
PRICE %CHANGE 235.00 27.50
-5.98
PRICE %CHANGE 650.00
-
1
23
1
23
1 1,131
23 204,370,265
37 38 FOOD PRODUCTS S/N 39 40 FOOD PRODUCTS--DIVERSIFIED S/N 41 42 HOUSEHOLD DURABLES S/N
MARKET CAP(Nm) 440.00
43
CROP PRODUCTION FTN COCOA PROCESSORS PLC OKOMU OIL PALM PLC. PRESCO PLC
0.20
-
1
6,000
79,174.53
83.00
-
5
52,070
59,550.00
59.55
-
4 10
2,331 60,401
FISHING/HUNTING/ TRAPPING ELLAH LAKES PLC.
MARKET CAP(Nm) 511.20
TRADES 0 0
LIVESTOCK/ANIMAL SPECIALTIES LIVESTOCK FEEDS PLC.
DIVERSIFIED INDUSTRIES A.G. LEVENTIS NIGERIA PLC. JOHN HOLT PLC. S C O A NIG. PLC. TRANSNATIONAL CORPORATION OF NIGERIA PLC U A C N PLC.
BUILDING CONSTRUCTION ARBICO PLC. INFRASTRUCTURE/ HEAVY CONSTRUCTION JULIUS BERGER NIG. PLC. ROADS NIG PLC. REAL ESTATE DEVELOPMENT UACN PROPERTY DEVELOPMENT CO. LIMITED REAL ESTATE INVESTMENT TRUSTS (REITS) SKYE SHELTER FUND PLC UNION HOMES REAL ESTATE INVESTMENT TRUST (REIT) UPDC REAL ESTATE INVESTMENT TRUST
MARKET CAP(Nm) 1,890.00
MARKET CAP(Nm) 1,217.75
PRICE %CHANGE
PRICE %CHANGE 4.26
-
PRICE %CHANGE 0.63
-10.00
PRICE %CHANGE
TRADES
VOLUME
44 PERSONAL/HOUSEHOLD PRODUCTS CONSUMER GOODS FINANCIAL SERVICES
TRADES
VOLUME
20
1,381,338
20
1,381,338
30
1,441,739
TRADES
VOLUME
47 48 49 50 51 52 53 54 BANKING
41,429 2,484 0
45,932.23
1.13
-0.88
141
15,088,087
55
38,033.11
13.20
3.41
57 211 211
918,564 16,050,564 16,050,564
57
TRADES
VOLUME
59
0 0
0 0
60
TRADES
VOLUME
61
8
44,977
-
165.00
6.60
-
MARKET CAP(Nm) 4,417.27
S/N
56
58
24.30
PRICE %CHANGE 1.70
-
62 63
0
0
8
44,977
64
TRADES
VOLUME
65
6
10,032
66
6
10,032
67
TRADES
VOLUME
MARKET CAP(Nm) 1,900.00
95.00
-
0
0
11,300.89
45.20
-
0
0
70
24,014.43
9.00
-
0
0
71 72
AUTOMOBILES/AUTO PARTS DN TYRE & RUBBER PLC
MARKET CAP(Nm) 954.53
BEVERAGES--BREWERS/DISTILLERS CHAMPION BREW. PLC. GOLDEN GUINEA BREW. PLC. GUINNESS NIG PLC INTERNATIONAL BREWERIES PLC.
MARKET CAP(Nm) 16,363.65
PRICE %CHANGE
69
0
0 55,009
TRADES
VOLUME
74
-
2 2
50,000 50,000
75
PRICE %CHANGE
TRADES
VOLUME
76 77
73 0.20
2.09
10.00
9
181,940
242.22
0.89
-
0
0
210,276.75
96.00
-
29
56,204
322,344.82
68
14 PRICE %CHANGE
37.50
-
10
MARKET PERSONAL/HOUSEHOLD PRODUCTS CAP(Nm) P Z CUSSONS NIGERIA 60,152.73 PLC. UNILEVER NIGERIA 301,900.03 PLC.
MARKET CAP(Nm) 28,255.67
46
1 0
32,076.00
3,387.70
0 0
12
PRICE %CHANGE
MARKET CAP(Nm) 1,680.31
DIAMOND BANK PLC ECOBANK TRANSNA366,991.02 TIONAL INCORPORATED FIDELITY BANK PLC 54,762.37 GUARANTY TRUST 1,141,929.75 BANK PLC. JAIZ BANK PLC 16,499.98 SKYE BANK PLC 9,299.80 STERLING BANK PLC. 40,882.39 UNION BANK NIG.PLC. 163,076.22 UNITY BANK PLC 10,052.83 WEMA BANK PLC. 29,702.34
-
MARKET CAP(Nm)
HOUSEHOLD DURABLES NIGERIAN ENAMELWARE PLC. VITAFOAM NIG PLC.
45
-
-
FOOD PRODUCTSMARKET -DIVERSIFIED CAP(Nm) CADBURY NIGERIA 20,096.76 PLC. NESTLE NIGERIA PLC. 1,149,351.57
VOLUME
0.58 3.25
4.79
FOOD PRODUCTS DANGOTE FLOUR MILLS PLC DANGOTE SUGAR 186,000.00 REFINERY PLC FLOUR MILLS NIG. PLC. 117,680.89 HONEYWELL FLOUR 13,639.94 MILL PLC MULTI-TREX INTE1,340.10 GRATED FOODS PLC N NIG. FLOUR MILLS 1,167.21 PLC. NASCON ALLIED 52,988.77 INDUSTRIES PLC UNION DICON SALT 3,676.41 PLC.
BANKING
0.46
PRICE %CHANGE
MARKET CAP(Nm) 43,500.00
S/N
225.71 2,111.93
MARKET CAP(Nm) 711.32
NIGERIAN BREW. PLC. 835,676.26
26,600
78 79
INSURANCE CARRIERS, BROKERS AND SERVICES AFRICAN ALLIANCE INSURANCE COMPANY PLC AIICO INSURANCE PLC. AXAMANSARD INSURANCE PLC CONSOLIDATED HALLMARK INSURANCE PLC CONTINENTAL REINSURANCE PLC CORNERSTONE INSURANCE COMPANY PLC. GOLDLINK INSURANCE PLC GREAT NIGERIAN INSURANCE PLC GUINEA INSURANCE PLC. INTERNATIONAL ENERGY INSURANCE COMPANY PLC LASACO ASSURANCE PLC. LAW UNION AND ROCK INS. PLC. LINKAGE ASSURANCE PLC MUTUAL BENEFITS ASSURANCE PLC. N.E.M INSURANCE CO (NIG) PLC. NIGER INSURANCE CO. PLC. PRESTIGE ASSURANCE CO. PLC. REGENCY ALLIANCE INSURANCE COMPANY PLC SOVEREIGN TRUST INSURANCE PLC STANDARD ALLIANCE INSURANCE PLC. STANDARD TRUST ASSURANCE PLC SUNU ASSURANCES NIGERIA PLC. UNIC DIVERSIFIED HOLDINGS PLC. UNIVERSAL INSURANCE COMPANY PLC VERITAS KAPITAL ASSURANCE PLC
MARKET CAP(Nm)
104.50
-0.95
PRICE %CHANGE 8.70
120
1,838,853
168
2,103,597
TRADES
VOLUME
-3.87
111
1,855,941
15.50
-8.82
137
3,475,870
28.70
-3.37
41
399,972
1.72
-
23
413,062
0.36
-
0
0
6.55
-
1
100
20.00
-
20
148,647
13.45
-
0
0
333
6,293,592
TRADES
VOLUME
-0.93
36
214,832
-
58 94
85,880 300,712
PRICE %CHANGE
TRADES
VOLUME
PRICE %CHANGE 10.70
22.10
-
0
0
3.25
-
18 18
418,355 418,355
PRICE %CHANGE
TRADES
VOLUME
15.15
-
18
93,754
52.55
0.86
59
672,868
PRICE %CHANGE
77
766,622
692
9,932,878
TRADES
VOLUME
79
17,963,392
1.22
-6.15
20.00
-2.44
30
1,206,671
1.89
9.88
153
13,867,658
38.80
-0.51
132
7,843,882
0.56 0.67 1.42 5.60 0.86 0.77
-8.20 -1.49 1.43 -2.61 -4.44 2.67
29 36 753 55 10 44 1,321
3,220,000 4,050,686 6,526,046 1,313,640 580,262 3,616,619 60,188,856
PRICE %CHANGE
TRADES
VOLUME
4,117.00
0.20
-
0
0
4,296.73
0.62
-
18
78,231
26,775.00
2.55
-
1
1,000
1,890.00
0.27
3.85
6
805,985
16,388.94
1.58
-0.63
6
213,004
4,271.56
0.29
-
0
0
2,411.47
0.53
-
0
0
1,913.74
0.50
-
0
0
2,333.20
0.38
-
0
0
539.32
0.42
-
0
0
2,416.73
0.33
-
4
502,470
4,296.33
1.00
-
2
4,000
6,400.00
0.80
-
4
19,550
2,400.00
0.30
-9.09
13
1,065,386
15,577.48
2.95
-1.67
22
1,065,441
2,012.26
0.26
-
3
99,952
1,985.05
0.52
4.00
6
421,754
1,667.19
0.25
-
14
4,507,300
1,918.39
0.23
-8.00
10
1,094,489
5,422.63
0.42
-
0
0
4,483.72
0.48
-
0
0
2,800.00
0.20
-
2
50,100
516.46
0.20
-
0
0
8,000.00
0.50
-
0
0
4,160.00
0.30
-
0
0
˾ THURSDAY, AUGUST 9, 2018
38
-+)4-% %-/: 62'. %4.)6 )3246
Thisday Afrinvest 40 Index Sheds 18bps
$ ! #
Yesterday, Wednesday 8th August 2018, the Thisday ĨƌŝŶǀĞƐƚ ϰϬ ŝŶĚĞdž ůŽƐƚ ϭϴƉƐ ƚŽ ƐĞƩůĞ Ăƚ ϭ͕ϱϬϰ͘ϰϱ ƉŽŝŶƚƐ ǁŚŝůĞ zd ůŽƐƐ ƐƚŽŽĚ Ăƚ Ϯ͘ϱй͘ dŚĞ ŶĞŐĂƟǀĞ ƉĞƌĨŽƌŵĂŶĐĞ ŽĨ ƚŚĞ ŝŶĚĞdž LJĞƐƚĞƌĚĂLJ ǁĂƐ ĚƵĞ ƚŽ ƉƌŝĐĞ ůŽƐĞƐ ŝŶ GUARANTY ( Ϭ͘ϰйͿ͕ UBA ( ϭ͘ϬйͿ ĂŶĚ ETI ( Ϭ͘ϮйͿ ǁŚŝĐŚ ĐƵŵƵůĂƟǀĞůLJ ĂĐĐŽƵŶƚ ĨŽƌ Ϯϵ͘ϲй ŽĨ ƚŚĞ ŝŶĚĞdž͘
Bearish Pressure Persists into the Fourth ŽŶƐĞĐƵƟǀĞ ^ĞƐƐŝŽŶ͙ ASI down 0.1% dŽĚĂLJ͕ ƚŚĞ ůů ^ŚĂƌĞ /ŶĚĞdž ; ^/Ϳ ƐŚĞĚ ϵďƉƐ ƚŽ ƐĞƩůĞ Ăƚ ϯϲ͕Ϯϵϵ͘ϴϮ ƉŽŝŶƚƐ ǁŚŝůĞ zd ůŽƐƐ ǁŽƌƐĞŶĞĚ ƚŽ ϱ͘ϭй͕ ůŽǁĞƐƚ ƐŝŶĐĞ ϱƚŚ KĐƚŽďĞƌ ϮϬϭϳ͕ ĂƐ ďĞĂƌŝƐŚ ƐĞŶƟŵĞŶƚƐ ŝŶ ƚŚĞ ůŽĐĂů ďŽƵƌƐĞ ƉĞƌƐŝƐƚĞĚ ŝŶƚŽ ƚŚĞ ĨŽƵƌƚŚ ĐŽŶƐĞĐƵƟǀĞ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶ ƐŝŶĐĞ &ƌŝĚĂLJ͘ ŽŶƐĞƋƵĞŶƚůLJ͕ ŝŶǀĞƐƚŽƌƐ ůŽƐƚ EϭϮ͘ϰďŶ ĂƐ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝnjĂƟŽŶ ĚĞĐůŝŶĞĚ ƚŽ Eϭϯ͘ϮƚŶ͘ dŽĚĂLJ͛Ɛ ŶĞŐĂƟǀĞ ƉĞƌĨŽƌŵĂŶĐĞ ŝƐ ƚƌĂĐĞĂďůĞ ƚŽ ĐŽŶƟŶƵŽƵƐ ƐĞůů ŽīƐ ŝŶ GUARANTY ( Ϭ͘ϰйͿ͕ UBA ( ϭ͘ϬйͿ and OANDO ( ϰ͘ϰйͿ͘ ĐƟǀŝƚLJ ůĞǀĞů ĂůƐŽ ǁĞĂŬĞŶĞĚ ĂƐ ǀŽůƵŵĞ ĂŶĚ ǀĂůƵĞ ƚƌĂĚĞĚ ĚĞĐůŝŶĞĚ ϱϰ͘ϭй ĂŶĚ ϲϳ͘ϱй ƚŽ ϭϭϯ͘ϵŵ ƵŶŝƚƐ ĂŶĚ EϬ͘ϳďŶ ƌĞƐƉĞĐƟǀĞůLJ͘ dŚĞ ƚŽƉ ƚƌĂĚĞĚ ƐƚŽĐŬƐ ďLJ ǀŽůƵŵĞ ǁĞƌĞ UBA ;Ϯϭ͘ϰŵͿ͕ SOVRENINS ;ϭϰ͘ϭŵͿ and TRANSCORP ;ϴ͘ϰŵͿ ǁŚŝůĞ UBA ;EϮϬϱ͘ϮŵͿ͕ ZENITH ;Eϭϴϲ͘ϲŵͿ ĂŶĚ FBNH ;Eϱϰ͘ϭŵͿ ǁĞƌĞ ƚŚĞ ƚŽƉ ƚƌĂĚĞĚ ƐƚŽĐŬƐ ďLJ ǀĂůƵĞ͘
Bearish Sector Performance ĐƌŽƐƐ ƐĞĐƚŽƌƐ͕ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ďĞĂƌŝƐŚ ĂƐ Ăůů ϱ ŝŶĚŝĐĞƐ ƵŶĚĞƌ ŽƵƌ ĐŽǀĞƌĂŐĞ ƚƌĞŶĚĞĚ ƐŽƵƚŚǁĂƌĚƐ͘ dŚĞ Kŝů Θ 'ĂƐ ŝŶĚĞdž ůĞĚ ůŽƐĞƌƐ ĨŽƌ ƚŚĞ ƐĞĐŽŶĚ ĐŽŶƐĞĐƵƟǀĞ ĚĂLJ͕ ĚŽǁŶ ϭ͘Ϭй͕ ĨŽůůŽǁŝŶŐ ƉƌŽĮƚ ƚĂŬŝŶŐ ŝŶ TOTAL ( Ϯ͘ϳйͿ ĂŶĚ ETERNA ( Ϭ͘ϴйͿ͘ ^ŝŵŝůĂƌůLJ͕ ƚŚĞ ĂŶŬŝŶŐ ĂŶĚ /ŶƐƵƌĂŶĐĞ ŝŶĚŝĐĞƐ ůŽƐƚ Ϭ͘Ϯй ĂƉŝĞĐĞ ĂƐ ǁĞ ƐĂǁ ƐƵĐĐĞƐƐŝǀĞ ƐĞůů ŽīƐ ŝŶ GUARANTY ( Ϭ͘ϰйͿ͕ UBA ( ϭ͘ϬйͿ͕ MBENEFITS ( ϵ͘ϳйͿ ĂŶĚ AIICO ( ϭ͘ϰйͿ ĚƌĂŐ ďŽƚŚ ŝŶĚŝĐĞƐ͘ &ƵƌƚŚĞƌŵŽƌĞ͕ ƚŚĞ ŽŶƐƵŵĞƌ 'ŽŽĚƐ ŝŶĚĞdž ůŽƐƚ Ϭ͘ϭй ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ƐĞůů pressures in CHAMPION ( ϯ͘ϭйͿ ĂŶĚ HONYFLOUR ( ϭ͘ϳйͿ ǁŚŝůĞ ƚŚĞ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ŝŶĚĞdž ƐŚĞĚ ϯďƉƐ ĂƌŝƐŝŶŐ ĨƌŽŵ ƉƌŝĐĞ ĚĞƉƌĞĐŝĂƟŽŶ ŝŶ CUTIX ( ϱ͘ϵйͿ ǁŚŝĐŚ ŶĞƵƚƌĂůŝnjĞĚ gains in CCNN ;нϴ͘ϰйͿ͘
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T H I S D AY ˾ ˜ ˜ ͺͶ
MARKET NEWS
Conoil Grows Half Year Profit After Tax by 29% to N809 Million Conoil Plc has raised investors’ hopes for higher dividend at the end of the year as the company has recorded double-digit growth in profitability for the first half (H1) ended June 30, 2018. A look at the results, shows that turnover rose by 21.3 per cent from N44.93 billion in H1 of 2017 to N54.48 billion in 2018. Gross profit rose from N5.99 billion to N6.39 billion, while profit before tax increased to N809.78 million as against
N627.91 million. Profit after tax grew by rose from N427.29 million in 2017 to N550.65 million in 2018, translating to 29 per cent appreciation. Conoil had paid N1.4 billion cash dividend for the 2017 business year, representing a dividend per share of N2.00. In his address to the shareholders at the annual general meeting (AGM) last month, Chairman, Conoil Plc, Mike Adenuga (Jr), outlined many initiatives that would drive long-term growth
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
of the downstream oil company and deliver competitive returns to shareholders. According to him, the company would focus on further consolidation of its competitiveness in the different segments of its business with new investments in technologies, innovations and operating efficiency. He noted that Conoil will maintain its leadership position in the downstream petroleum sector by building a stronger financial position
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 0608-2018, unless otherwise stated.
and creating higher values for its shareholders. Adenuga added that conscious efforts would be directed at achieving better execution of valueadded products and services especially in the areas of marketing and customer management. “The company’s policy of continual investment and review of our business processes to boost efficiency has been paying off, as this has been a very important part of our success story. We have, for several years now,
ensured that our strategy remained constant, proven and effective, which is designed to improve returns and grow value for shareholders by focusing on our market strengths without jeopardizing the development of our diverse portfolios,” he said. He noted that the company’s focus going forward would be to develop emerging markets while holding its grounds in areas where it has achieved competitive advantage.
The chairman said while the company has been expanding its retail network across the country, it has also been revamping its non-fuel retail business to achieve future growth targets. “I have no doubt that our strategies for growth are promising. We will remain disciplined in our approach as we work harder more than ever before to deliver value to our customers and expand our capabilities in all fronts,” he said.
Offer price: The price at which units of a trust or ETF are bought by investors. Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return. NAV: Is value per share of the real estate assets held by a REIT on a specific date.
DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 1 270 1680 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 179.56 179.89 0.93% Nigeria International Debt Fund 263.16 263.51 13.69% 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 0.84 1.57% ACAP Income Funds 0.63 0.63 3.98% 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 12.45% 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 18.37 18.93 0.55% ARM Discovery Fund 383.22 394.77 -1.50% ARM Ethical Fund 28.51 29.37 4.35% ARM Money Market Fund 1.00 1.00 12.43% 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 144.23 145.24 -4.92% AXA Mansard Money Market Fund 1.00 1.00 12.18% 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 10.64% Paramount Equity Fund 11.75 12.05 5.97% Women's Investment Fund 102.95 105.59 2.31% 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 N/A N/A N/A 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 12.00% Coronation Balanced Fund 1.17 1.20 11.63% Coronation Fixed Income Fund 1.20 1.23 16.26% FBNQUEST ASSET MANAGEMENT LTD invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Fixed Income Fund 1,179.44 1,180.16 9.73% FBN Heritage Fund 143.87 144.89 3.01% FBN Money Market Fund 100.00 100.00 12.11% FBN Nigeria Eurobond (USD) Fund - Institutional 114.32 114.77 3.70% FBN Nigeria Eurobond (USD) Fund - Retail 114.12 114.57 3.63% FBN Nigeria Smart Beta Equity Fund 164.08 166.47 3.59% 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 1.30 1.32 0.00% Legacy Debt Fund 3.11 3.11 7.67% 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 N/A N/A N/A Coral Income Fund N/A N/A N/A 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 11.92% Nigeria Entertainment Fund 103.05 104.37 3.25% 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 0.00% Vantage Balanced Fund 2.16 2.18 2.24% Vantage Guaranteed Income Fund 1.00 1.00 14.22% Kedari Investment Fund (KIF) 120.34 120.61 4.59%
LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.18 1.20 3.26% Lotus Halal Fixed Income Fund 1,067.36 1,067.36 8.23% 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 12.50 12.62 -4.22% Meristem Money Market Fund 10.00 10.00 11.07% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.33 1.36 11.86% PACAM Fixed Income Fund 11.79 11.85 6.81% PACAM Money Market Fund 10.00 10.00 11.86% 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 128.23 128.90 -1.04% 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 1.62 1.62 9.16% 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 2,311.13 2,329.66 3.02% Stanbic IBTC Bond Fund 185.34 185.34 5.04% Stanbic IBTC Ethical Fund 1.00 1.01 -0.50% Stanbic IBTC Guaranteed Investment Fund 237.37 237.42 7.78% Stanbic IBTC Iman Fund 171.30 173.32 -4.33% Stanbic IBTC Money Market Fund 100.00 100.00 11.88% Stanbic IBTC Nigerian Equity Fund 9,234.31 9,358.93 -4.51% Stanbic IBTC Dollar Fund (USD) 1.08 1.08 1.61% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.15 1.16 -2.82% United Capital Bond Fund 1.54 1.54 8.05% United Capital Equity Fund 0.75 0.76 -1.90% United Capital Money Market Fund 1.00 1.00 United Capital Eurobond Fund 104.28 104.28 4.25% United Capital Wealth for Women Fund 1.07 1.09 3.35% 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 12.66 12.87 1.21% Zenith Ethical Fund 13.14 13.28 -0.22% Zenith Income Fund 20.67 20.67 9.23% Zenith Money Market Fund 1.00 1.00 11.60%
REITS
NAV Per Share
Yield / T-Rtn
11.41 137.37 51.45 51.45
1.01% 3.71%
Bid Price
Offer Price
Yield / T-Rtn
11.89 135.51 103.19
12.09 138.38 105.13
-1.51% -5.13% -5.54%
Fund Name FSDH UPDC Real Estate Investment Fund SFS Skye Shelter Fund Nigeria Infrastructure Debt Fund Union Homes REIT
1.22%
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
4.59 8.41 16.90 17.82 146.10
4.63 8.49 17.00 18.02 148.10
-3.15% -12.07% -3.43% -9.36% 8.38%
The value of investments and the income from them may fall as well as rise. Past performance is a guide and not an indication of future returns. Fund prices published in this edition are also available on each fund manager’s website and FMAN’s website at www.fman.com.ng. Fund prices are supplied by the operator of the relevant fund and are published for information purposes only.
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FOREIGN/DIPLOMATIC AFFAIRS
Editor: VINCENT OBIA vincent.obia@thisdaylive.com 0805 468 1757
In Brief Tlaib Set to Become First Muslim Woman in US Congress A 42-year-old daughter of Palestinian immigrants, Rashida Tlaib, is set to become the first Muslim woman elected to the US Congress after winning her Democratic primary election in the state of Michigan. Tlaib won Tuesday’s primary in the state’s 13th congressional district, securing 33.6 per cent of the vote, compared with the 28.5 per cent her nearest rival Brenda Jones received. That is as more women candidates than ever prepare to contest US governorships and House seats in November’s mid-term elections. After Tuesday’s primaries across four states, there were 11 female nominees for governor and at least 182 for the House of Representatives. The results were hailed as a continuing success story by activists for women in politics. If Tlaib wins in November, she would become the second Muslim to serve in Congress this year
Kabila Will Not Stand For Re-election
Home Affairs Minister Kangi Lugola (left) and Chargé d’Affaires of the U.S. Embassy in Dar es Salaam, Dr. Inmi Patterson, lay a wreath in commemorating the 20th anniversary of devastating US embassy bombings in Dar Es Salaam on August 6, 2018. PHOTO CREDIT: ANTHONY SIAME
How Kenya is Managing Security 20 Years after Nairobi Blast Oscar Gakuo Mwangi
I
t’s been 20 years since the attack on the US embassy in Kenya’s capital Nairobi. A suicide bomber detonated two truck bombs killing 200 people. A simultaneous attack happened in Dar es Salaam, Tanzania. Terrorist attacks in Kenya date back to 1975. Prior to the country’s military intervention in Somalia in 2011 they had claimed about 300 lives. In the post-Somalia intervention period – 2011 to 2016 – attacks led to over 800 deaths, and more than 1200 injured. Approximately 75% of the attacks were conducted by the Somalia-based Al-Shabaab terrorist group. My research shows that several factors have contributed to Al-Shabaab’s attacks in Kenya. These include the country’s proximity to Somalia, the visibility of US and Israeli interests, and Kenya’s role in the US-led global war on terrorism. But most notable is Kenya’s military intervention in Somalia aimed at reducing the threat posed by Al-Shabaab. The frequency and intensity of Al-Shabaab’s attacks prompted Kenya to prioritise the development of counter-terrorism policies and strategies. These hinged on several elements including legislation, law enforcement and border security. Efforts were also stepped up to counter the financing of terrorism and extremism. And there was added focus on international and regional cooperation. Kenya still has a long way to go before it fully manages the threat of terrorism. Despite the strategies it’s put in place, the country’s counter-terrorism efforts have been hampered by three key interrelated factors. These are a lack of cooperation between agencies, corruption and the radicalisation of Somalis. Before 2010, Kenya’s efforts were hampered by the absence of a legal framework to prosecute acts of terrorism. Since then it’s passed several new laws. These include the Prevention of Terrorism Act, Proceeds of Crime and Anti Money Laundering Act and Prevention of Organised Crime Act. In 2014, the Security Laws (Amendment)
Act changed 20 existing laws to strengthen Kenya’s anti-terror legislative framework. The new law created agencies to deal specifically with the terror threat. These included the anti-terrorism police unit, a bomb disposal unit and a cyber-forensics investigative unit. The Kenya Defence Forces – army, air force, and navy - are now also legislated to be involved. Previously weren’t actively involved in transnational counter-terrorism efforts. The act also strengthened the mandates of the Kenya Defence Forces and the National Intelligence Service. These security agencies now have the constitutional and legislative mandate to take counter-terrorism measures to safeguard national security. Some are repressive and punitive. For example, the Anti-Terrorism Police Unit has been accused of using excessive force. Terrorist screening watch lists, biographic and biometric screening, and other measures, are also in place at Kenya’s main ports of entry. But screening procedures are sometimes inconsistently or minimally applied. This is particularly true at smaller border posts and airports. To counter the financing of terrorism, Kenya joined the Eastern and Southern Africa AntiMoney Laundering Group. This is a financial action task force whose objectives are to set standards and promote the implementation of suitable measures to combat money laundering, terrorist financing and other threats to the international financial system. The government also implements the relevant UN Security Council resolutions on money laundering and terror financing. Kenya’s financial intelligence unit - the Financial Reporting Centre - continues to build its capacity to monitor the formal financial system. All nongovernmental organisations are required to report suspicious transactions to the centre. Two years ago the government launched the National Strategy to Counter Violent Extremism. The aim was to step up efforts to counter violent extremism by dealing with the radicalisation of young people. It was also designed to encourage efforts to rehabilitate, repatriate, and reintegrate foreign terrorist returnees. A number of civil society organisations, such as Haki Africa, are now
addressing radicalisation and violent extremism in the country. Kenya is also involved in international and regional cooperation. It’s an active member of the African Union and a member of its Peace and Security Committee. The country also contributes troops to the AU’s mission in Somalia. Kenya also remains engaged with the Intergovernmental Authority on Development and is a member of the Partnership for Regional East African Counter-terrorism. Most of Kenya’s international counterterrorism assistance and cooperation comes from the US, UK and Denmark. To make serious progress, Kenya must urgently address the three big issues: a lack of cooperation between agencies, corruption and the radicalisation of Somalis. The lack of collaboration was evident in the Westgate Mall attack in 2013. The counterterrorism offensive was lacking thanks to inter-agency conflict. This blurred the lines between command and control. There was a breakdown in intelligence sharing, and patchy communication between the security forces and the public during particular stages of the siege. Corruption is also a serious threat. Bribery is rife in the security sector, particularly the police service. Counter-terrorism efforts have also been hampered by the branding of all Somali refugees in Kenya as a security risk. Somali refugees, and refugee camps predominantly occupied by Somalis, are misleadingly described as abetting terrorism. This has allowed the state to normalise counter-terrorism measures among refugee populations. As a result, the rights of Somali refugees have been repeatedly violated. The effect of this, combined with the impact of corruption and the securitisation of refugees, has led to an increase in the numbers of young people being radicalised. This is particularly true in the Muslim community. Many are rapidly joining extremists groups such as Al-Shabaab, and posing a serious threat to Kenya’s future security. – Mwangi is Associate Professor, Political Science, National University of Lesotho.
Democratic Republic of Congo President Joseph Kabila will not stand for re-election in December, a government spokesman has announced, according to Al Jazeera. Kabila’s ruling coalition nominated former interior minister Emmanuel Ramazani Shadary as its presidential candidate, Lambert Mende, the government spokesman, said on Wednesday. The move put an end to years of speculation on whether Kabila would defy terms limits. The government waited until the last moment to announce Kabila’s decision not to run. The electoral commission’s deadline for candidates to register was Wednesday afternoon. The Catholic Church immediately called the decision by Kabila “a big step,” while the US ambassador to the United Nations, Nikki Haley, welcomed the news but said Congo’s electoral commission must “take all steps necessary” to guarantee a free and fair vote.
Saudi Arabia Rules out Mediation in Canada Row Saudi Arabia said on Wednesday there was no room for mediation in the kingdom’s deepening diplomatic dispute with Canada, and that Ottawa knew what it needed to do to “fix its big mistake”. “There is nothing to mediate. A mistake has been made and a mistake should be corrected,” Foreign Minister Adel al-Jubeir told a news conference in Riyadh, Reuters reported. In an indication that the quarrel may worsen, Jubeir said the kingdom was still “considering additional measures” against Canada, but did not elaborate. Saudi Arabia on Sunday froze new trade with Canada and expelled the Canadian ambassador in retaliation for Ottawa’s call to free arrested Saudi civil society activists.
Zambia Denies Zimbabwe Politician Asylum A senior member of Zimbabwe’s opposition MDC Alliance, Tendai Biti, has been denied asylum by neighbouring Zambia. Zimbabwe’s police accused Biti of inciting violence following last month’s election. Zambian Foreign Minister Joe Malanji told the BBC that Biti’s grounds for asylum were weak. He was being kept in “safe custody” until he returned to Zimbabwe, the minister said. Earlier, his lawyer said his client had been detained at the border with Zambia by the Zimbabwean authorities. An alleged Zambian police report circulating on social media states that Zimbabwean officials tried to detain Biti after he had crossed into Zambia.
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Ohanaeze Ndigbo Calls for Probe of N’Assembly Invasion Says action amounts to coup detat The umbrella body of Ndigbo, Ohanaeze, has described the Tuesday’s siege to the National Assembly by security operatives as equivalent of a coup as the group urged the government to probe the incident. The President General of Ohanaeze, Chief John Nnia Nwodo said the Acting President, Prof. Yemi Osinbajo was right in describing the act as a breach of national security but said that all the characters who participated in the act either directly or indirectly should face the law to act as a deterrent to overzealous operatives. Nwodo charged the acting president to go beyond the sacking of the Director General of the Department of State Service (DSS) and institute a high powered investigation to fish out all the culprits.
The president general said in a statement he signed and released yesterday that it was not possible for the DSS alone to carry out the siege without the involvement of the police. He doubted the denial of police on the matter as he urged Osinbajo to critically examine the role of the police and the claim that it did not participate a possible after thought only after the ‘coup’ failed. The Ohanaeze chieftain said the embarrassment this act brought to the nation is enormous and should not be treated with levity. “If the state security can just wake up and seal up the National Assembly housing the country’s parliament they could go further one day to over throw government after discussing with some interest groups.
Nwodo said that Ohanaeze had carefully followed the developments at the National Assembly and felts that the executive was over bearing. “As a constitutionally recognised arm of government with its own statutory responsibilities, if there is a disagreement within them, they should be allowed to resolve it themselves unless there is violence before the security can be involved. The Ohanaeze leader went further to say that the executive must allow the legislature to handle their affairs themselves in the most congenial atmosphere. Nwodo finally noted that democracy would be better served if all the arms of the government are allowed to operate without undue interference from each other.
Ekiti PDP Gets Order of Substituted Service on Fayemi, APC Victor Ogunje in Ado Ekiti The Election Petition Tribunal in Ado Ekiti yesterday granted an ex parte order to the Peoples Democratic Party(PDP) to serve the candidate of the All Progressives Congress (APC) and Governor-elect, Dr. Kayode Fayemi, through substituted means. The PDP candidate, Prof Kolapo Olusola, had last week Friday filed a 700-page petition against the declaration of Fayemi by Independent National Electoral Commission (INEC) as the validly elected governor of the state. The governorship election that produced Fayemi as the governor-elect was conducted on July 14 , 2018, in the state. The tribunal’s Chairman, Justice Suleiman Belgore,
yesterday ordered the PDP to paste the service at APC’s office in Ado Ekiti or conveyed the message through newspapers publication. The tribunal’s bailiff had complained that he could not effect personal service of the petition to the 2nd and 3rd respondents which are APC and Fayemi respectively, as the party’s office in Ajilosun area of Ado Ekiti has been under lock and key while the 3rd respondent is currently out of the country. Following this, the PDP, through its legal team led by Yusuf Ali (SAN), filed a motion ex parte pursuant to paragraphs 8 (2), 47 (1), ( 2), and 54 of the electoral Act , 2010 ( as amended), Order 6, rule 5 of the Federal High Court.
The ex parte motion moved by Obafemi Adewale, who represented the petitioners, sought the following: ‘An order of the tribunal granting leave to the petitioners/applicants to bring this application before the pre-hearing session and to hear and determine same accordingly ‘An order for substituted service of the petition and other processes filed by the petitioners/applicants in this petition on the 2nd and 3rd respondents, Olukayode John Fayemi, by substituted means to wit: By delivering the petition and other processes filed by the petitioners to any of the officials or members of staff of the 2nd respondent at the Ekiti State chapter of the APC, Ekiti secretariat at No 156, Ajilosun Street, Ado Ekiti, Ekiti
Stakeholders Seek Full Deregulation of Downstream Sector Ugo Aliogo Stakeholders has advised that there is a need for the downstream sector of the oil and gas industry to be freed from government control and ensure that there is also full deregulation to make it attractive for private investors to build refineries to meet Nigeria’s needs and also of West and Central Africa. The advise was given yesterday in a comunique jointly signed and made available to THISDAY by the Chairman, Board of Trustees, Aret Adams Foundation, Mr. Egbert Imomoh, and the 2nd Vice-Chairman, Mr. Charles Osezua, it was noted that the existing refineries should be rehabilitated and brought back into operation to 80 to 90 per cent capacity utilisation, stating that it is a least cost option compared with building greenfield refineries of equivalent capacities. The statement noted that the rehabilitation of the refineries can be achieved either through a private sector led financing and rehabilitation initiative which they noted are being pursued by the Nigeria National Petroleum Corporation (NNPC) “or through outright divestment of majority equity shareholding to the private sector from the current 100 per cent ownership by government.” Imomoh and Osezua in the
statement also stated that the refineries should be managed on a fully commercial governance structure in which decision making should rest with the management and board of the plants, with full control of their funds. The statement further stated that the refineries should market their products directly to off-takers, in order to recover maximum value, adding that government should create an enabling environment with fiscal
incentives to attract investments into refining in the country and make this happen. The statement added that those interested in going into modular refining should carry out feasibility studies, noting that the Department of Petroleum Resources (DPR) should grant licenses and facilitating discussions for access to crude oil feedstock from upstream companies, “modular refineries should be treated as business ventures, not social services.”
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Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com 0811 181 3083 SMS ONLY
Giwa Faction Invades NFF as DSS Withdraws from Glass House Olawale Ajimotokan in Abuja Three members of the factional board of the Nigeria Football Federation (NFF) headed by Chris Giwa, yesterday visited the NFF’s Glass House secretariat in Wuse Zone 7, Abuja, with the intension to take possession of the football house. Sani Ferma, Dr Shehu Adamu and Yahaya Adama, who were elected at the disputed August 26, 2014 NFF Congress at Chida Hotel, in Abuja, capitalised on the withdrawal of the DSS operatives from NFF to attempt to take charge of the football secretariat . Apparently acting on the order of the Presidency, the DSS on July 23, bundled out Giwa from the NFF and subsequently restored the board headed by Amaju Pinnick, to stave Nigeria of an impending ban from the international football federation (FIFA). FIFA President, Gianni Infantino, had said the international body recognised only Pinnick and perceived the prevailing move to remove him via the civil courts as an act of interference that could warrant a ban on Nigeria from international football. But the sack of the DG of DSS, Lawan Daura by the federal government on Tuesday, over his role in the siege on the National Assembly, led to withdrawal of the DSS operatives from the premises of the football secretariat.
THISDAY learnt that it was the gap created by this withdrawal that offered the members of the Giwa group the courage to storm the NFF secretariat. The ‘board members’ were accompanied by eight other stalwarts of the Giwa faction with Rumson Baribote and Ben Agary, among those in tow. During their brief stop at the Glass House, they moved from one office to another, including the office of the NFF’s General Secretary. Giwa, who is in heated power tussle with Pinnick over the control of the NFF board, had before the DSS intervention, taken control of the NFF after a Federal High Court in Jos, issued an order that recognised him as the duly elected NFF President. Minister of Sports, Solomon Dalung, who recently instituted a committee to reconcile the Giwa and Pinnick factions, had always insisted that the order to oust Giwa was not from the Presidency. At the recent NFF’s Extra Ordinary General Assembly held in Bénin City, the NFF Congress opened a possible window for reconciliation of all aggrieved stakeholders in Nigerian football. The body asked the Chris Giwa and his group, with a pending court case to retrace their steps and reconcile with the football family. The Congress urged all aggrieved parties to within two weeks ensure that they
U-20 WOMEN’S WORLD CUP
Falconets in Make or Mar Clash with Haiti The Netherlands first to berth q’final with victory over Ghana Nigeria’s Falconets are condemned to beat Haiti today at the ongoing FIFA Under-20 Women’s World Cup in France for them to have any chance of progressing to the quarter final. Chris Danjuma’s wards lost their opening game to Germany in St Marlo while China also grabbed three maximum points from the Haitians to lead the Group D pairing. Falconets that played in the lost the 2010 and 2014 finals to Germany are favourites to beat Haiti in today’s clash but would need to do so in style, firing more goals. Anything short of a win will translate to early exit for the glory seeking Nigerians. Yesterday, Netherlands became the first team to qualify for the FIFA U-20 Women’s World Cup France 2018 quarter-finals after earning a 4-0 win over Ghana, as they maintained their 100 per cent start in Group A. While the West Africans
started brightly, it did not take long for the Netherlands to get into gear. Two spurned chances could have rocked their confidence, but they did not have to dwell on them long, going ahead on 21 minutes. Three goals in 11 minutes put them in complete control, with Aniek Nouwen’s downward header at the back post getting the debutants rolling on the back of their slender win over New Zealand. Having netted in their opener, Fenna Kalma made no mistake when put through by Victoria Pelova, before converting with a superbly taken volley to see her move joint-top of the scoring charts. The pace dropped after the break, with the Netherlands sitting comfortably, but Pelova and Kalma switched rolls, as the duo exchanged passes before the former stroked home to add some gloss to the Oranje’s victory.
dismissed all pending court cases against NFF and its
leadership. Giwa however turned down
the offer, insisting he has a mandate as NFF’s duly elected
president.
R-L: Former Super Eagles Captain and Tournament Ambassador, Peter Rufai; Managing Director, SystemSpecs Limited, John Obaro; and Chief Operating Officer, Media Vision Limited, Jimi Sogbesan, at the 2018 Remita Corporate Champions Cup (RC3) press conference and trophy unveiling in Lagos…yesterday
Nigerian Firms Target New Trophy at Remita Corporate Champions Cup 2018 The fourth edition of the Remita Corporate Champions Cup (RC3), an annual corporate football tournament, for firms drawn from various sectors of the Nigerian economy will commence on Sunday, 12th August 2018 at the Sports Pavilion of Yaba College of Technology (YabaTech) in Lagos. RC3 is a prestigious football event designed to promote team building, inter-company networking and wellness among employees from different corporate firms in Nigeria, in a fun and competitive way. The tournament brings together eight winners and runners-up of various industry games including banking, FMCG, Insurance and Telecommunications Games, namely: Friesland Campina, Unilever, FCMB, 9Mobile, First Bank, Leadway Assurance, last year’s winner HIS, and wildcard Credit Direct. In his opening remarks, the Managing Director of SystemSpecs, John Obaro, extolled the benefits of the RC3, which is aimed at creating a work-life balance for employees of corporate organizations. “With RC3, Nigerian corporates are mixing business with leisure. It is that one time when professionals, their friends and family take work matters off their minds. “We hope to engender greater collaborations across
Corporate Nigeria and by that very token achieve more successes that would engender greater innovations for the overall advancement of our beloved country,” Obaro said. Former Super Eagles goalkeeper and tournament ambassador, Peter Rufai, popularly known as Dodo Mayana also appreciated all stakeholders who have been part of the tournament. “I appreciate all your support to me and RC3. This is a platform where we look forward to projecting to the rest of the world what is ours. Life is all about relationships and this platform provides the opportunity for relationships to be built even more,” Rufai said. The new trophy for the RC3 tournament was unveiled at the event. The silver-plated cup with gold embellishments is called the ‘Koenig Trophy’, meaning ‘A Trophy for Kings’. In the fixtures for the first four matches, FrieslandCampina would trade tackles with 9Mobile while First Bank would take on the team of Unilever. Leadway Assurance would play against Credit Direct while IHS Towers would face FCMB. The semi-finals will take place on August 19 while the third place and final matches will be held on 26 August, 2018. A novelty match between the University of Lagos and the Yaba College of Technology
is among some of the events lined up to thrill fans. Popular musician and Ponmile crooner,
Reminisce, has also been listed as the headline performer at the event.
CAA ASABA 2018
Ogba Condoles with Kenya over Death of Former World Champion The Local Organising Committee (LOC) for the recently concluded 21st African Senior Athletics Championships, has expressed deep shock at the news of the sudden death of Kenyan athlete, Nicholas Kiplagat Bett. Bett passed away yesterday morning, a day after returning from Asaba, Delta State where he and his colleagues did Kenya proud to emerge as the overall champions at the continent’s flagship athletics event; a feat the East African country last achieved over three decades ago. In a statement issued by Olukayode Thomas, Head Media and Publicity for Asaba 2018, the LOC Chairman, Solomon Ogba, said the sudden demise of Bett was a big blow not just to Kenya but to the rest of Africa. “We were deeply touched when we heard the news of Bett’s death Wednesday,” Ogba began. “Coming at a time when the athletics family in Kenya are still celebrating their heroic performance in Asaba, it is
painful that the former world champion is no longer around to savour this magic moment with the rest of his colleagues.” The LOC boss added. While Ogba is condoling with the athletics family in Africa, he advised that the legacies of Bett must be sustained and the former world champion must be immortalized. “He was a great son of Kenya and Africa, so I expect that his legacies must be well protected, I pray for his family and his loved ones to have the strength to bear this irreparable loss” Ogba concluded. According to Nandi Police Commander Patrick Wambani, Bett died on the spot after the car he was driving veered off the road and landed in a ditch near Lessos along Eldoret-Kapsabet road yesterday morning. The 28-year-old former world champion was the first Kenyan ever to win a Worlds gold in hurdles after his magnificent run in Beijing 2015.
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Real Madrid’s Luka Modric (right) and Harry Winks of Tottenham battling for ball during their UEFA Champions League clash in Santiago Bernabau last season
Courtois and Kepa due to swap places in Real Madrid and Chelsea respectively
Modric Returns to Real Madrid Training Amid Doubts over Future
SUMMER TRANSFERS
Courtois Set for Real Madrid Medical as Kepa Becomes Blues No.1 It is a change of guard as one goal guardian moves from Spanish La Liga to the English Premiership League while another one is moving in the opposite direction this summer transfer deadline day. Today, Thibaut Courtois will complete his transfer to La Liga giants, Real Madrid believed to be in the region of €35million. Courtois has been on the brink of officially becoming the new goalkeeper at Santiago Bernabéu as the Belgium has been on Los Blancos radar for several seasons. The 26-year-old was made available at a cut-price as he is entering the final year of his contract at Stamford Bridge. He absence from Chelsea’s training this week fueled speculations that his move
was sealed. According to agency reports, talks between the two clubs were put on hold while Chelsea tried to identify a replacement. It was until Chelsea sealed deal with Athletic Bilbao goalkeeper, Kepa Arrizabalaga, that the Blues gave final green light for Courtois’ exit. Belgian 90min, reported that the Chelsea shot-stopper reached an agreement with Real Madrid for a six-year contract in the Spanish capital. Courtois has been a Blues player since 2011, when he signed from Belgian club Genk, and was loaned to Atletico Madrid from 2011 to 2014. Kepa, 23, on the other hand, paid his release clause of £71m to La Liga, which allows him to leave Athletic Bilbao and
clears the way for a transfer to the Premier League. The deal is a world record for a goalkeeper, surpassing the £66.8m Liverpool paid for Alisson in July. Real Madrid and Croatia midfielder Mateo Kovacic, 24, is also set to join Chelsea on a season-long loan. Kovacic spent the last three seasons at Real after joining from Inter Milan and played in Croatia’s run to the World Cup final in July. Real boss Julen Lopetegui said he “expressed his desire” for the player to stay, after his team’s 2-1 friendly win against Roma on Tuesday night. In Spain a player must buy himself out of his contract, which was announced by Bilbao on Wednesday. This is usually done by
depositing the amount of the buyout clause with La Liga - Spain’s equivalent of the Premier League - to release the player from his contract. The league then passes the money to the selling club. Kepa is Spain’s number two behind Manchester United’s David de Gea and has one international cap. He has spent the past two seasons in Bilbao’s first team, making 53 La Liga appearances. In January, he signed a new long-term contract with Bilbao until 2025, amid interest from Real Madrid. Kepa is the second major signing to leave Bilbao this year, after Manchester City signed French defender Aymeric Laporte for £57m in January.
SWAN President Advocates Better Management, Improved Facilities for Africa’s Sports The President, Sports Writers Association of Nigeria (SWAN), Mr Honour Sirawoo, has advocated better management, improved facilities and professionalism among the sporting press as recipe toward ensuring appreciable mark by Africa in the world of competitive sports. Sirawoo, who spoke as special guest at the 33rd Nile Special Uganda Sports Press Association (USPA) Award Night in Kampala, capital of Uganda, expressed optimism that if the right people were put in management, in addition to the provision of conducive atmosphere, and development-oriented press, the continent’s sportsmen and women would excel beyond their current standing. He told the gathering
consisting of the Speaker of Ugandan Parliament, Rt. Hon. Rebecca Kadaga, and the Minister of State for Sports, Charles Bakkabulindi, among others, that journalists have the power to influence events in the sports sector and bring about constructive changes needed to help produce generations of talents. The SWAN President lamented that the sports media haven’t been able to assert its influence due to lack of unity amidst lots of potentials for the entrenchment of desired changes in the sports industry. Sirawoo opined that some media owners have not helped matters following their inability to pay salaries and facilitate training, leaving sports journalists at the mercy of overzealous administrators,
who seize such opportunities to consciously prevent this critical pillar in sports development from collectively and constructively playing its role. According to the leader of the Nigerian sporting press, who delivered messages from Africa’s Power of Sports, Gov. Nyesom Wike, AIPS President, Gianni Merlo and AIPS-Africa President, Mitchell Obi, the recent below-par performance of Africa’s representatives at the World Cup in Russia should give administrators and the media in the continent a cause for concern. He maintained that most African countries are yet to realize that sports have created a huge and wealthy economy, urging Africans to insist on knowing why players
of African descent do well for their adopted countries, but fail to do so back home. The SWAN boss said that, it was regrettable that in many parts of Africa, basic facilities to train sportsmen and women were lacking, hence the desperation on the part of the best talents in the continent to search for training gear and better conditions, and most times, change nationality. Sirawoo, who also presented award at the event, recommended a stakeholders summit among African sports administrators and the media, where some standard requirements would be mutually agreed as the way forward for the growth of the money spinning sports sector in the continent.
Inspirational Croatian captain, Luka Modric returned to training at Real Madrid yesterday along with five other World Cup players, against a background of contradictory rumours about his future. One Spanish sports daily, AS, reported that the midfielder who led Croatia to the World Cup final was subject to a big bid from Inter Milan, while a competing newspaper, Marca said the 32-year old was about to accept a pay rise from Real and sign a contract extension. Modric, awarded the Golden Ball as best player at the World Cup, was given a break rather than join Real’s pre-season tour of the United States, as were another Croatian World Cup finalist, Mateo Kovacic, who was reported to have travelled to London to join Chelsea, French World Cup winner Raphael Varane and Brazilian duo Marcelo and Casemiro.
Yesterday, as the Real first team flew back to Madrid after beating Roma in New Jersey on Tuesday night, the club said the World Cup players were in training. “The Croatian midfielder joined Marcelo, Varane, Casemiro and Kovacic, who did individual work in the gym. The four players trained with nine players from the under-18s,” Real Madrid said on their web site. Among the conflicting reports, Marca said that Modric, who joined Real in 2012, “did not consider his current salary matched the level of his performances” and that the player, who turns 33 early in September, was about to sign the best contract of his career. AS said Modric, who has not commented publicly, “foresaw joining Inter.” Marca said “he would stay at Madrid” because “the club intended to increase his salary.”
Dembele Confirms Barca Stay Despite interest from Arsenal and Manchester United, strong indication emerged yesterday that Barcelona’s Ousmane Dembele has agreed to remain in Spain. According to Mundo Deportivo, new Arsenal Manager Unai Emery is keen to add the 21-year-old forward to his ranks in order to team him up with striker Pierre-Emerick Aubameyang and hopefully form one of the deadliest attacking lineups in the Premier League. Dembele has recently been pictured with Arsenal stars Aubameyang, Alexandre Lacazette and Henrikh Mkhitaryan on Instagram, sending the internet into a frenzy with rumours that the Gunners could be about to complete one of the biggest deals of the summer. Meanwhile, a potential move by Manchester United for Dembele’s signature hinges largely upon the future of the forward’s compatriot Anthony
Martial, who could yet leave the club before the transfer deadline passes tonight. Dembele only joined Barcelona last summer for €105m, with another €40m potentially coming in additional fees. However, the attacker’s first season was beset by injuries, preventing the French international from discovering his best form as he did the previous season with Borussia Dortmund . However, in what is a blow for both Arsenal and United, Dembele recently pledged his future to the La Liga champions, telling FM Guru’s live ‘Twitch’ broadcast as quoted by Marca: “I’m staying at Barcelona and I’m ready to play the Spanish Super Cup.” Dembele was also included in France’s 23-man squad for this summer’s World Cup, taking home a winner’s medal despite being outshone by the likes of Kylian Mbappe and Antoine Griezmann.
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MISSILE Tanko Yakasai to Fed Govt “It is an indication that what I fear in the next election will come to pass: that the security forces and probably the INEC will not allow free and fair election. That will be the beginning of the end of democracy for now in Nigeria” – Second Republic Presidential Liaison Officer, Alhaji Tanko Yakasai on the implications of Tuesday invasion of National Assembly by hooded DSS agents
OLUSEGUNADENIYI Something Happened! THE VERDICT
olusegun.adeniyi@thisdaylive.com
“U
se a picture. It’s worth a thousand words.” I remembered that timeless injunction by 20th century Australian journalist, Arthur Brisbane, last weekend the moment I saw the photograph of Senator Godswill Akpabio grovelling before President Muhammadu Buhari in London. Anybody who knows the former Akwa Ibom State Governor very well knows that humility is not one of his virtues; so it must be an act of desperation for him to stoop in the manner he did to accept President Buhari’s handshake. That Akpabio, for whom the senate session rule was broken so he could become the minority leader, would abandon his party to cross the aisle is also a suspicious decision that makes many to link it with his case before the Economic and Financial Crimes Commission (EFCC)—an institution that has been turned into an instrument of blackmail and coercion against the opposition by the ruling All Progressives Congress (APC). That explains why only the accounts of some states controlled by the PDP are being blocked. On 27th March this year, in seconding a motion moved by the senate majority leader, Ahmed Lawan, seeking an adjournment of the senate to enable APC lawmakers attend the party’s National Executive Committee (NEC) meeting holding that day, Akpabio said, “even though we have a quorum of the senate which is about 37 and we in the PDP can continue proceedings, I give them the opportunity to attend the NEC meeting.” He then turned to Lawan and added: “I hereby second the motion to allow you continue the confusion in your NEC meeting today.” That is the “confusion” Akpabio has elected to join though it is very well within his right. He becomes an issue only because his name is being frequently mentioned as one of the principal actors in the National Assembly sordid drama. Even though I have already spoken to some principal actors, I am yet to get a complete picture of what exactly happened on Tuesday and the allegation against Akpabio remains unproven. But I can perceive a vicious power struggle not only within the National Assembly but also at the presidency that I am not sure bode well for the country. I chose the title of Joseph Heller’s 1974 novel to headline this piece because there is still a lack of clarity on why the National Assembly was invaded. There are two accounts. If you believe one faction, the invasion was to clear the way for some APC Senators to enter the chambers and remove the Senate President, Dr Bukola Saraki. The other account is that the whole fiasco was orchestrated by Saraki himself. Since we are in a season of full scale propaganda with both sides having foot soldiers in the social media, especially WhatsApp, truth has become the first casualty. However, for those who still argue that what happened on Tuesday was unprecedented, I enjoin them to Google Professor Wole Soyinka’s 3rd December 2014 press statement titled ‘King Nebuchadnezzar—The reign of impunity’,
Osinbajo following the invasion of the National Assembly by the police at that period. Let me refresh the memory of readers with a few lines: “The latest action of the supposed guardians of the law against the nation’s lawgivers is an unambiguous declaration of war against the people. Legislators are not elected for their athletic prowess, and such endeavours should not be demanded of them. Our legislators however have been made to perform over and beyond the call of the Olympics. I don’t understand why some media have described their action as a show of shame — this is a very careless, easily misapplied designation. The act of scaling gates and walls to fulfill their duty by the people must be set down as their finest hour. They must be applauded, not derided. If shame belongs anywhere, it belongs to the Inspector-General of Police and his slavish adherence to conspiratorial, illegal, and unconstitutional instructions — to undermine a democratic structure...For this latest outrage, one in an escalating series of impunity, the buck stops yet again at the presidency, and that incumbent, Goodluck Ebele Jonathan, continues to surprise us in ways that very few could have conjectured.” The import of that recollection is to remind Nigerians of the level to which regime protection has always been substituted for national security by those who head these agencies. It is particularly interesting that the IGP in question, who at that period was the enforcer for President Jonathan and the PDP, practically turned himself to Buhari’s ADC the moment Jonathan conceded defeat. Yet, I am almost certain that if he had rejected the result, the same IGP (who was sacked in anger apparently for his post-election disloyalty) would have led the assault against Buhari and his supporters! Therefore, if there is any take-away
from what is going on in Nigeria today, it is that the power struggle is not about the people of Nigeria, it is about the protection of personal privileges. In any case, I followed the drama on television and except for the female legislator who stood up to the hooded security agents, most of her colleagues who became “heroes of democracy” were actually drinking Whiskey right within the premises of the National Assembly. And their leader, Senator Ben Bruce had to cheapen our country while addressing the media. Here is what he said which I have transcribed unedited for readers: “…We will ask them to revoke the business, the business of their wives and the business of their children. They will not be allowed to leave Nigeria to travel to any nation in Western Europe and North America. And let me say this, let me say this very clearly, let nobody test me or let nobody test this institution. When you begin anti-democratic situations like this, including the DSS officials – I want to get the photograph (of) all those breaking the law; get me their pictures, get me their names, we will submit the names of the DSS officials, the names of Senator Akpabio and the gangs to the embassies – I’ve been in touch with them already, they are waiting for the list. As soon as they have it… the quest to go to Washington, to go to London, to go to EU, and to go to Canada and we will make sure their visas are revoked. And I hope these anti-democratic forces love Nigeria because they will not be travelling (for) very, very long time...” With that revelation, we now know that Senator Akpabio has a Private Jet but it says so much about those who preside over our affairs that Bruce would equate staying in Nigeria for a public official with being punished. Alhaji Lateef Kayode Jakande was Governor of Lagos State for four years and three months during the Second Republic and he never for one day ventured outside Nigeria, either for medical or on holiday. Now, none of our public officials can spend two weeks at a stretch in Nigeria, they must gallivant across the globe at our expense. While we will deal with all these issues and the National Assembly fiasco another day, let me say quickly that the person who should be held responsible for what happened on Tuesday is President Buhari. In fact, the growing insinuation is that were he to be in the country, nothing would have happened to the Director General of the State Security Service, Mr Lawal Daura; after all, nothing has happened to all the certificate forgers in his government, including those appointed to ‘fight corruption’. The question is, if a president could admit publicly that he gave a directive to his IGP and was ignored without any consequence, why would the heads of other security agencies not go rogue? In my 19th April column on this page titled ‘A National Security Endangered’, I highlighted how President Buhari has failed to provide leadership by allowing those manning security agencies to practically
engage in street brawl without anybody calling them to order and the implications for the polity. I enjoin readers to go through that piece again because it contains a mild rebuke of the president by his own National Security Adviser before I drew my conclusions: “The most elementary doctrinal pillar that undergirds national security is the recognition of the primacy of national interest. In that regard, it is the need to preserve the integrity of security agencies as state institutions that equips every president to contain the excesses of security chiefs, especially when their private agenda begin to muddy the national interest or vitiate the integrity of the institutions they head. In a situation where the personal interests and tendencies of these security chiefs are allowed to blossom uncontrolled, the agencies quickly grow into private armies that clash openly at the slightest opportunity. “What is baffling to most observers is how President Buhari has allowed the institutions of national security to be freely carved up into clashing and competing private fiefdoms of ambitious and lawless chieftains who have carried their fights into the public arena. Tragically, it is this dysfunction between the security agencies and the unhealthy rivalry among their heads that has led to the current state of general insecurity in the country.” I wrote the foregoing less than four months ago. But the decisive step taken by Acting President Yemi Osinbajo on Daura should serve the rogue heads of our security agencies. One of the primary objects of security in a democracy is the protection of critical institutions of State. While loyalty to the Number One office in the country is required of security chiefs, it also behooves on them to understand that fidelity to national institutions and the constitution is a higher calling. Unfortunately, it would appear that the current disarray among security chiefs reflects a scramble for vantage position in the politics of access to the president. In the process, the architecture of national security is in ruins. When he returns to the country from his holiday, President Buhari must redefine the structure of national security by replacing those who have outlived their usefulness. That is the irreducible minimum if his administration is to regain any modicum of credibility after the recent shame
My Ray Appreciation! Ekpu @ 70 Oduduwa Hall, Following the launch that citadel of my of personal entertainment web portal, at the Obafemi olusegunadeniyi.com, Awolowo University, last week, wasI filled have been to thereceiving brim thea day, lot ofearly messages in 1986, of goodwill. Mr Dele I want(now Giwa all those of blessed who have memory) sent mails and Mr or Ray text messages Ekpu came that to IIfe. appreciate In those them days, all. as Reuben And to all mywrote Abati readers, on Tuesday, I say thank men you! of ideas like Ekpu were what the society celebrated, not those who have thousands of followers on Instagram yet going nowhere! As Ekpu therefore clocks 70, he deserves all the accolades he has been getting from members of my generation of journalists. He remains for us a worthy role model. Happy birthday Sir!
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