WEDNESDAY 15TH AUGUST 2018

Nigeria’s Total Debt Hits N22.37tn in June FG borrows N410bn to fund 2018 budget Ndubuisi Francis in Abuja The Debt Management Office (DMO) yesterday put the nation's total debt stock (federal, FCT and states)

at N22.38 trillion ($73.21 billion) as at June 30, 2018.

The debt office also said the federal government has so far borrowed a total of N410 billion locally to

finance the N9.12 trillion 2018 Budget, which was assented to on June 19 by President Muhammadu Buhari.

Briefing journalists on

the status of Nigeria's public debt in Abuja, the DMO Director General, Ms. Patience Oniha, stated that there was no foreign borrowing so far to support

the 2018 budget.

This, she noted, was because the National Assembly was yet to approve the 2018 borrowing plan.

The 2018 Budget is configured with a N1.643 trillion borrowing window, comprising N850 billion Continued on page 10

100,000bpd Brownfield Refinery Relocated from Turkey to Nigeria… Page 10 Wednesday 15 August, 2018 Vol 23. No 8519. Price: N250

www.thisdaylive.com TR

UT H

& RE A S O

N

Saraki, Dogara: No Basis to Reconvene N’Assembly Call for independent enquiry into DSS siege Senate president must go, says Oshiomhole APC accuses PDP of plotting to attack its senators Deji Elumoye, Onyebuchi Ezigbo in Abuja The leadership of the National Assembly has

said it cannot reconvene now to consider the 2019 general election budget proposals before it until the joint committees set up

to consider the proposals complete their work.

President of the Senate, Dr Bukola Saraki, and Speaker of the House of

Representatives, Hon. Yakubu Dogara, in a joint statement yesterday, said based on this, no date has been fixed for the two

chambers to reconvene.

The statement signed by their media aides, Alhaji Yusuf Olaniyonu and Mr. Turaki Hassan, emphasised

that so far, no meeting of the joint Senate and House Committees on Electoral Continued on page 8

Presidency: Buhari Vetoed Electoral Amendment Act Bill to Prevent Constitutional Infraction

Says president considering fresh bill Deji Elumoye in Abuja The presidency yesterday said the Electoral Act Amendment Bill 2018 was vetoed by President Muhammadu Buhari because it contained some constitutional infractions.

THISDAY reported exclusively yesterday that the president had vetoed the second bill proposing alterations to the Electoral Act 2010 as amended.

The bill was passed on June 3, 2018 and transmitted to the president on June 27, 2018.

The Special Assistant to the President on National Assembly (Senate), Senator Ita Enang, explained in Abuja that Buhari vetoed the bill due to drafting inconsistencies.

He said the reason for the

president's rejection of the bill was contained in the communication from the executive to the legislature and that he was not in a position to give further explanations.

“I'm not in a position to talk about it," he said.

He added that the identified infractions and inadequacies had been addressed by another amendment bill passed by the National Assembly on July 24 and transmitted on August 3 to the president for his assent.

According to him, the vetoed bill was the one with contentious provisions and infractions on provisions of the 1999 constitution.

"The reported vetoed bill Continued on page 8

INEC Registers 23 New Political NICE DOING BUSINESS WITH YOU… Group Executive Vice Chairman, SIFAX Group, Dr. Taiwo Afolabi (MON), and President, Republic of Gambia, Mr. Adama Barrow, Parties, Extends CVR Exercise … Page 8 L-R: during the signing of MoU for the company to build and operate a multi-million US dollar dry port in The Gambia…recently

2

T H I S D AY ˾ ͯͳ˜ ͰͮͯͶ

T H I S D AY ˾ WEDNESDAY AUGUST 15, 2018

3

4

T H I S D AY ˾ ͯͳ˜ ͰͮͯͶ

T H I S D AY ˾ WEDNESDAY AUGUST 15, 2018

5

6

T H I S D AY ˾ ͯͳ˜ ͰͮͯͶ

T H I S D AY ˾ WEDNESDAY AUGUST 15, 2018

7

8

T H I S D AY Ëž Ëœ ÍŻÍłËœ ͺ͸͚͜

PAGE EIGHT

INEC Registers 23 New Political Parties, Extends CVR Exercise Adedayo Akinwale Ă“Ă˜ ĂŒĂ&#x;ÔË Voters Registration (CVR) exercise by two weeks.

According to him, "At The Independent National Electoral Commission its regular meeting today, (INEC) yesterday said it had Tuesday, August 14, 2018, approved the registration INEC took a number of of 23 new political parties, decisions; the commission bringing the number of approved the registration of 23 new political parties. political parties to 91.

The commission said It had received a total of it received a total of 144 144 applications from applications from political political associations seeking associations seeking registration as political registration as political parties."

Haruna stressed that parties.

The National the decision was taken Commissioner and after a rigorous process of Member, Voter Education evaluation in accordance and Publicity Committee, with the Constitution Malam Mohammed Haruna, and Electoral Act, which in a statement in Abuja, included assessment of the said the commission had constitutions and manifestos extended the Continuous of the intending parties and

verification of membership of their executive committees and offices.

He noted that the 23 associations met all the requirements and have been registered as political parties.

Haruna stated, "This brings the number of political parties to 91 and will be the last round of registration of parties until after the general elections on February 16, 2019. This suspension is in line with Section 78 (1) of the Electoral Act, which requires all applications for registration as political party to be concluded latest six months to a general election."

He added that the

newly registered political parties would receive their Certificates of Registration from the commission on Thursday, August 16, 2018 at the commission’s headquarters.

Haruna stressed that the commission has registered over 12 million new voters in the ongoing Continuous Voter Registration (CVR) across the country.

He, however, said that the commission has decided to extend the CVR to August 31, 2018, stressing that exercise would continue in all the designated registration centres every day, including weekends, but excluding public holidays, between 9a.m. and 5p.m.

LIST OF 23 POLITICAL PARTIES REGISTERED ON 14TH AUGUST, 2018 S/N NAME OF ASSOCIATION

1.

2.

3.

4.

5.

6.

7.

8.

9.

10.

11.

12.

ACRONYM

Advanced Alliance Party Advanced Nigeria Democratic Party African Action Congress Alliance for a United Nigeria Alliance of Social Democrats Alliance National Party Allied People’s Movement Alternative Party of Nigeria Change Nigeria Party Congress Of Patriots Liberation Movement Movement for Restoration and Defence of Democracy 13. Nigeria Community Movement Party 14. Nigeria for Democracy 15. Peoples Coalition Party 16. Reform and Advancement Party 17. Save Nigeria Congress 18. United Patriots 19. United Peoples Congress 20. We The People Nigeria 21. YES Electorates Solidarity 22. Youth Party 23. Zenith Labour Party

AAP ANDP AAC AUN ASD ANP APM APN CNP COP LM MRDD NCMP NFD PCP RAP SNC UP UPC WTPN YES YP ZLP

SARAKI, DOGARA: NO BASIS TO RECONVENE N’ASSEMBLY Matters, Appropriation, Loans and Bonds had taken place to prepare the ground for National Assembly resumption.

According to the statement, until the committees have a ready report for the consideration of the two chambers, it would be most irresponsible to recall members from recess especially those that might have travelled to Saudi Arabia for the Hajj.

The four-paragraph statement read, "The Senate President, Dr. Abubakar Bukola Saraki, and Speaker, House of Representatives, Rt. Hon. Yakubu Dogara, have directed that we inform all senators, honourable members and the public that a date has not been set for the reconvening of the Senate and the House of Representatives to consider the Independent National Electoral Commission (INEC) 2019 elections budget request forwarded

by President Muhammadu Buhari on July 17, 2018.

"The leadership of the two chambers had met and agreed to reconvene to consider the proposal this week before which a meeting between the Joint Senate and House of Representatives Committees on Electoral Matters and officials of the INEC must have held on or before Monday, August 13, 2018.

"The joint committees were also expected to meet with the joint Senate and House Committees on Appropriations, Loans and Debts on the Eurobond loan

request after which two reports would have been ready for presentation in the two chambers.

"However, no such meeting had taken place yet as a result of which both Senate and House of Representatives cannot reconvene as there is no report to consider. “Until the committees have a ready report for the consideration of the two chambers, it will be most irresponsible to recall members from recess, especially those that may have travelled to Saudi Arabia for the Hajj."

Saraki Calls for Independent Enquiry into DSS Siege Meanwhile, Saraki has called on President Muhammadu Buhari to institute an independent judicial panel of inquiry into last Tuesday's invasion of the National Assembly by masked gunmen.

In a tweet this morning on his personal @ bukolasaraki handle, Saraki said, "The very serious questions about last Tuesday’s siege on the National Assembly can only be answered through a thorough and neutral investigation.

"I call on Mr. President to immediately institute an independent judicial panel of inquiry to look into that assault on our democracy.�

the National Chairman of the All Progressives Congress, Mr. Adams Oshiomhole, has again urged its members in the Senate to remove Saraki from office.

He spoke at a meeting with APC senators and members of the House of Representatives, in Abuja yesterday.

Oshiomhole said Saraki's removal has become imminent because the party and its majority lawmakers would not accept minority rule.

Oshiomhole said, "We will impeach (remove) Saraki legally and democratically.

The only way he can avoid impeachment (removal) is to either resign or return to the majority party- even then we will not accept him; he should remain where he is.

"No amount of blackmail or sponsored analysts can stop his removal."

He also said the threat of a government shutdown was imminent as such there was the need for lawmakers on the APC platform to do everything legally possible to reconvene the National Assembly in order to approve Buhari's request for the passage of INEC's 2019 election budget.

The meeting was still in progress at press time.

APC Accuses PDP of Plotting to Attack its Senators

Saraki Must Go, As the battle for the Says Oshiomhole soul of the leadership In a related development,

of the Senate rages, the

APC has accused the PDP of planning to unleash attack on its members in the Senate.

The party said that Saraki’s continued stay in office as Senate president amounted to "high treason."

The ruling party, which has been at logger heads with the main opposition party, over the reconvening of the National Assembly, insisted that the Senate must reconvene.

In a statement by the Acting National Publicity Secretary, Mr. Yekini Nabene, the APC said it had uncovered plans by the PDP to attack its members.

It said, "Our attention has been drawn to sinister plans by the PDP to attack some APC senators as part of the PDP's desperate bid to ensure that Dr. Bukola Saraki clings to the position of Senate President.

"By this statement, we call on security agents to protect APC Senators. If any senator is harmed, the PDP and Saraki should be held directly responsible.

We call on security agencies to also closely monitor the activities of some PDP leaders including Saraki because the plan to attack APC senators is real and imminent," it said APC said that it was reliably informed that the plot was hatched in the private residence of a PDP leader in MaitamaAbuja on Sunday night.

The meeting was attended by 15 pro-Saraki senators including the Senate President himself.

"We learnt that the PDP

expressed worry over the APC’s Senate majority and considered several options to stop the APC from taking over the Senate leadership among which is attacking some APC senators to ensure their inability to attend legislative sittings.

"The PDP have recruited thugs for this purpose, we have now learnt.

"During Sunday’s meeting, the PDP senators planned several types of attack, one of which is to lure some of them (APC Senators) out at night in the guise of inviting senators to a political settlement meeting and thereafter instigate a violent confrontation during the meeting and unleash standby PDP thugs on APC senators" Our source privy to the meeting informed us.

"This revelation has not come to us as a surprise because the Senate president through proxies has made several failed attempts to buy over APC senators with N100million each.

"As a Party, we don't believe in inducing lawmakers to achieve our legitimate goal of removing Saraki as Senate President.

We will get the support of some PDP Senators to get the required 2/3 vote and impeach Saraki. We are already talking to some of PDP Senators who believe and support the direction of the President Muhammadu Buhari administration to achieve our legitimate goal."

"While Saraki and his cohorts continue to

PRESIDENCY: BUHARI VETOED ELECTORAL AMENDMENT ACT BILL TO PREVENT CONSTITUTIONAL INFRACTION was the one passed by the National Assembly and transmitted to the president for assent on June 27, 2018, duration of which in line with constitutional provisions expires on July 26, 2018, warranting the said veto.

"Yes, an electoral bill was vetoed or refused assent by the president but not the last version of the 2018

electoral bill transmitted to the president for assent on the 3rd of this month that has just spent 11 days on his table and still having 19 days more for possible consideration and assent," Enang explained.

Aside the vetoed version of the 2018 electoral bill forwarded to the president on June 27, 2018 and vetoed on

July 26, 2018 by the president in line with the 30 days constitutional life lines for such bill, the president had earlier in the year, rejected the first of the 2010 Electoral Act (Amendment) Bill 2018 forwarded to it in February this year.

Buhari had in vetoing the first amendment bill in March cited three reasons for doing

so, one of which was the new sequence of elections included in the bill through section 25(1).

The president in his rejection, said the section violated the provisions of section 72 of the 1999 constitution, which empowers INEC to organise elections.

The Court of Appeal has, however, punctured

the president’s position in a recent ruling, stating that the federal legislature has the constitutional powers to dictate the sequence of election.

But both chambers of the National Assembly in the new bill transmitted for presidential assent on August 3 deleted all the controversial provisions cited by the president.

postpone their doomsday regarding the imminent Senate leadership change, the yet-to-be considered 2019 budget of the Independent National Electoral Commission (INEC) is dangerously delayed.

"Clearly, Saraki’s actions as Senate President now bother on high treason."

Saraki: It's Sad the Kind of Leaders APC Has Responding, Saraki said Nigeria was unfortunate to have such characters in APC as leaders.

In a statement by his media adviser, Olaniyonu, yesterday, Saraki declared, "Nigeria is unfortunate to have characters (NWC members) like that presiding over a ruling party. It is very clear why Nigeria is where it is right now. With such people in office, a country like Nigeria cannot move forward.

According to him, "These people (members of National Working Committee of APC) are in the gutter. All they want to do is to drag people to their own level. We can’t join them in that gutter. It is also unfortunate that such an allegation will come from a ruling party."

Continued on page 9

TOP GAINERS NGN NGN % MUTUALBENEFITS 0.03 0.33 10.0 CUSTODIAN 0.51 5.64 9.9 LIVESTOCKFEEDS 0.06 0.69 9.5 CONSOHALLMARK 0.03 0.35 9.3 WEMABANK 0.04 0.67 6.3 TOP LOSERS NGN NGN % ABCTRANS 0.04 0.36 10.0 UNIONDAC 0.03 0.27 10.0 NNFM 0.70 6.50 9.7 ETERNA 0.70 6.50 9.7 UACN 1.35 12.65 9.6 HPE Nestle Nig Plc â‚Ś 1,560.00 Volume: 161.513 million shares Value: N1.613 billion Deals: 3,448 As at 14/8/18 See details on Page 39

T H I S D AY ˾ WEDNESDAY AUGUST 15, 2018

9

10

T H I S D AY ˾ WEDNESDAY, AUGUST 15, 2018

PAGE TEN

100,000bpd Brownfield RefineryRelocated from Turkey to Nigeria DPR inducted into FoI hall of shame Chineme Okafor in Abuja A brownfield refinery with a production capacity of 100,000 barrels per day (bpd), formerly owned by BP Plc is expected to be relocated from Turkey to Nigeria and co-located alongside the Port Harcourt Refinery, the Nigerian National Petroleum Corporation (NNPC) on Tuesday disclosed in Abuja.

This is just as a civil society organisation - Media Rights Agenda (MRA) - with focus on how the Freedom of Information (FoI) Act is being implemented in the various agencies of the federal and state governments, has claimed the Department of Petroleum Resources (DPR) which is Nigeria’s petroleum regulatory agency has remained largely secretive and unwilling to disclose public information about its jobs and the oil industry to Nigerians. The MRA thus said it had inducted the DPR into its ‘FoI Hall of Shame’ on grounds of such claims.

The NNPC however, said in a statement from its Group

General Manager, Public Affairs, Mr. Ndu Ughamadu, that the relocation of the refinery was part of the refinery co-location initiative designed by the federal government to boost local refining capacity.

The statement explained that the Group Managing Director of NNPC, Dr. Maikanti Baru, disclosed this development in an interview he granted an in-house newsletter of the corporation - the NNPC News, in which he spoke on efforts by the corporation to help Nigeria end its reliance on imported petroleum products.

“Our co-location initiative aimed at getting private sector investors to bring in brownfield refineries so that they can share facilities is also yielding results. For example, there is one that is going to be brought in from Turkey to be located near the Port-Harcourt Refinery.

“It’s not a modular refinery; it’s a normal refinery with about 100,00bpd capacity.

It was owned by BP, but it has been sold off now to the companies that want to

bring it over from Turkey to install it here,” the statement quoted Baru to have said in the interview.

Baru noted that the investors had commenced the process of relocating the refinery to be installed near the Port Harcourt Refinery under the co-location initiative, adding that a similar plan to establish a brownfield refinery near the Warri Refinery was also in the offing.

“There is another one of about the same size being looked at to be sited near the Warri Refinery. But the one for Port Harcourt is at a more advanced stage. Our drive at the NNPC, as a leader in the industry, is to expand our local refining capacity and make Nigeria a global refining hub,” the corporation’s helmsman stated.

Meanwhile, the MRA has claimed that for its relentless dedication to secrecy and attendant disregard for the FoI Act, it had inducted the DPR into its ‘FoI Hall of Shame.’

MRA’s FoI Programme Manager, Mr. Ridwan Sulaimon, said in a statement

sent to THISDAY that, “the induction of the DPR into the FoI Hall of Shame evidences a rot in the oil and gas sector that is pervasive, deep-seated and apparently intractable, as it is the fourth public institution in the sector to be awarded this badge of dishonour within a period of one year for lack of transparency and accountability arising from the flagrant violation of the FoI Act.” Sulaimon said the NNPC, Petroleum Equalisation Fund (PEF) and Ministry of Petroleum Resources have previously been inducted into the inglorious hall of shame for their lack of dedication to the FoI. According to him, “It is a matter of concern that despite these revelations about the opaque practices of these institutions, no significant steps have been taken to make them open up or comply with their statutory obligations.”

He explained the DPR remained, “undaunted in pursuing a path of secrecy and shielding its activities and operations from public

scrutiny,” despite the attention drawn to the reported unlawful actions of its sister public institutions in the sector.

The DPR, he noted, disrespects FoI requests, yet it is saddled with the responsibility of ensuring compliance with petroleum laws, regulations and guidelines in the country.

Sulaimon explained the DPR was assessed by the MRA on its level of compliance with various obligations of public institutions under the FoI Act including, the submission of annual implementation reports; the proactive publication of certain categories of information; the training of the institution’s staff on the public’s right of access to information; the designation of an FoI desk officer and publication of contact details of such an official; as well as responsiveness to requests for information from members of the public, but it failed in all the indicators.

He said since 2011 when the Act was passed into law until now, the DPR ought to have submitted seven annual

reports to the Attorney-General of the Federation on its implementation of the Act, but the institution has not submitted a single report over the period, thereby repeatedly breaching the provisions of Section 29 of the Act. Sulaimon, equally said there was no indication the DPR has ever granted any FoI request and has not fulfilled its proactive disclosure obligations under Section 2 of the Act as it has not published on its websites or anywhere else, the 16 categories of information that it is required by the FoI Act to publish and disseminate widely to members of the public through various means, including print, electronic and online sources.

He alleged that the DPR has also failed to comply with Section 13 of the FoI Act, which requires every public institution to ensure the provision of appropriate training for its officials on the public’s right of access to information and records held by the government or public institution for the effective implementation of the Act.

Lagos Ranked World’s Third Worst City to Live in Obinna Chima Lagos State has been ranked the third worst city for humans to live in the world. according to the latest 2018 Global Liveability Index released

by The Economist Intelligence Unit and World Bank.

Lagos ranked 138 out of the 140 cities considered for the ranking.

This, however, was a slight improvement from the 2017 ranking, where the country was ranked 139th out of 140 cities on the index.

According to the latest ranking, Lagos only outperformed Dhaka in Bangladesh and Damascus in war-torn Syria.

Out of an overall score of 100, Lagos was rated 38.5 points.

The ranking was based Social Stability, Healthcare, Education, Culture and Environment and Infrastructure.

Other African cities that featured on the index were Dakar (Senegal), which was ranked 131 out of 140; Algiers (Algeria) – 132; Doula (Cameroun) – 133; Tripoli (Libya) – 134 and Harare (Zimbabwe) – 135; Vienna, the Austrian capital, was ranked the most liveable city in the world, as Melbourne finally lost the title after a seven-year reign. The Japanese city of Osaka was

adjudged the third most liveable city.

Canada performed well as well, with Toronto tying with Tokyo for seventh position, while Calgary and Vancouver in same country emerged fourth and sixth place respectively.

Hamburg and Helsinki, that held tenth and ninth place last year, dropped out of the top 10. But this year's ninth place spot went to Copenhagen.

The report attributed Austria's capital's rise to the top to increased security scores due to a return to relative stability across much of Europe after high-profile terrorist attacks in recent

years.

“Every city is assigned a rating of relative comfort for over 30 qualitative and quantitative factors across five broad categories: stability, healthcare, culture and environment, education, and infrastructure.

“Each factor in a city is rated as acceptable, tolerable, uncomfortable, undesirable or intolerable. For qualitative indicators, a rating is awarded based on the judgment of in-house analysts and in-city contributors.”

“In the Stability category, the following were considered: prevalence of petty crime, the prevalence of violent crime, the threat of terror, threat of

military conflict and the threat of civil unrest.

“For Health rating, the following were considered:

availability of private healthcare, quality of private healthcare, availability of public healthcare, quality of public healthcare and availability of over-the-counter drugs.

“Humidity/temperature rating, discomfort of climate to travellers, level of corruption, social or religious restrictions, level of censorship, sporting availability, cultural availability, food and drink and consumer goods and services were considered for the culture and rating.

“Availability of private education, quality of private education, public education indicators were used for the education rating.

However, at the expiration of the tax amnesty on June 30, only N30 billion was realised, far from the projected $1 billion.

At Tuesday's briefing, Oniha who provided more insight on the public debt, said there was a marginal increase of 3.01 per cent over the public debt stock for December 2017.

The rise in the public debt stock over the six months period, she explained, was occasioned by the $2.5 billion Eurobond issued in February 2018.

Oniha said: “When compared to the debt data for March 2018, the public debt stock actually decreased by 1.44 per cent from N22.707 trillion in March 2018 to N22.38 trillion in June 2018.

“The decrease was due to a 3.38 per cent decline in FGN’s domestic debt stock between March and June 2018. There were however marginal increases of 0.07 per cent in the external debt stock and 2.75 per cent in the domestic debt of states.

“With the redemption of about N840 billion of Nigerian Treasury Bills, more funds were available for lending by banks to the private sector. External capital raising activities also contributed to the increase in external reserves."

Commenting on the portion of states’ debt, Oniha said they were permitted to apply 40 per cent of their revenue for debt servicing and operating with the remaining 60 per cent.

Governor Akinwumi Ambode

N I G E RIA’S TOTAL DEBT HIT S N22.3 7T N I N J U N E foreign component and N793 billion to be sourced locally.

Also speaking about the nation's debt burden, Oniha said: “Our borrowing is not excessive. It goes through a rigorous process. If the government did not borrow so much in the last three years, it would not have been able to function. The huge borrowings sprang from the fall of crude oil revenue and the attendant devaluation of the naira.

“Even at that, the DMO does annual debt sustainability analysis.

A group of finance and economic experts do this.

They project up to 20 years forward.

“They adjust some variables like if oil price falls, if production crashes

and all that. They consider all the ‘what ifs’.

“The overall objective is to ensure that Nigeria’s debt is sustainable, and this debt management strategy has already started yielding results. One of the beneficial outcomes is the rebalancing of the debt stock.

“The ratio of the domestic debt to external debt is inching towards the target of 60:40 and the target of 75:25 between long-term domestic debt and shortterm domestic debt.

“The ratio between domestic and external debt stood at 70:30 compared to 72:28 in December 2017,” she added.

The above variables, she noted, had resulted in lower interest rates for the benchmark FGN securities

from about 18.5 per cent in January 2017 to 11-14 per cent in the first half of 2018.

The DMO recently warned that the nation's high debtservice-to-revenue ratio, which deteriorated in 2016, could trigger a debt crisis.

This was contained in its 2017 Debt Sustainability Analysis (DSA), which pointed out that the country could experience a debt crisis in the event of prolonged shocks (decline) in revenue, exports and naira devaluation.

The DMO had also stated that for the country to stay within its 25 per cent debtto-Gross Domestic Product (GDP) threshold, the three tiers of government should not borrow more than $6.25 billion in the 2018 fiscal year.

It stated: “The Fiscal

Sustainability Analysis for the Federation (federal, states and FCT), showed that the ratio of total public debtto-gross domestic product (GDP), remained below its threshold throughout the projection period.

The ratio of total public debt-to-GDP for 2017 was projected at 19.80 per cent.

It would be recalled that the DMO had on March 14, 2018 stated that the rate of increase of debt servicing, would reduce, going forward, given the federal government attention on raising revenue through the Voluntary Assets and Income Declaration Scheme (VAIDS), as well as targeted efforts to increase local production of some of the goods responsible for high foreign exchange demand.

T H I S D AY ˾ WEDNESDAY AUGUST 15, 2018

11

12

T H I S D AY ˾ ͯͳ˜ ͰͮͯͶ

T H I S D AY ˾ WEDNESDAY AUGUST 15, 2018

13

14

T H I S D AY • WEDNESDAY, AUGUST 15, 2018

COMMENT

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

PETER ODILI AT 70

Emma Agu pays tribute to Odili, former governor of Rivers State, at age 70

I

t is accepted that life is not necessarily measured by the length of time spent on earth but by how it impacts on people and the society. Yet, longevity is one of the most cherished aspirations of human beings. To see one’s children and grandchildren, to reminisce on times past, to mentor younger ones who are privileged to drink from one’s fountain of wisdom, to have the opportunity to make peace with our maker before exiting this planet are, no doubt, some of the abiding benefits of old age. When old age is accompanied by impact, society is moved to celebrate such a person. That is what is expected as Dr. Peter Otunuya Odili, CON, the third Governor of Rivers State (1999-2007), attains the age of 70 on August 15, 2018. Like any other politician, Odili will naturally mean different things to different people.

As managing director/editor-in-chief of Champion Newspapers Limited between February 2000 and January 2008, I had the privilege of interacting with him at close quarters before his tenure, of two terms, (1999-2007) ended. I therefore consider it a joyful undertaking to pay this tribute to a man whose commitment to service; patriotism, philanthropy, and loyalty to friendship match the loftiest human ideals attainable.

Looking back, one of the most remarkable qualities of Odili was his determination to ensure that the people of Rivers State enjoyed the dividends of democracy by providing visionary leadership in two areas.

If my recollection is correct, he laid great emphasis on political education and leadership development. Just emerging then from military rule, he made it a point to assemble a corps of young men and women on whose shoulders the future of the state would rest. It is a measure of his visionary leadership that, through astute mentoring, he incubated a corps of younger politicians many of whom are today holding strategic positions at all levels of governmental administration in Nigeria. The persons concerned are well known and they know themselves!

Beyond that, Odili had the vision of establishing legacy projects through ambitious infrastructural development. I will mention one of such projects, the Omoku Power Plant not because it was the only one but for the important reason that it epitomised the quintessential Odili, a gentle giant who, for the love of his people, was prepared to strive where angels feared to dare to tread. At Omoku, Odili demonstrated the power of vision over tradition, of courage over criticism, of love over fear. Before Omoku, no level of government had tried an independent power project of that magnitude. To make matters worse, the terrain was terrifyingly discouraging: it demanded the highest of civil engineering expertise and enormous resources to stabilise the swampy soil. Naturally the criticisms cascaded not as drops but in tonnes. Odili remained undaunted. In the end, he prevailed. Many years later, I was extremely elated when the regional head of the Power Holding Company of Nigeria (PHCN), in Port Harcourt, disclosed that about 75 per cent of the power consumed in capital city, was generated from the Omoku Power Plant. I said to myself: here is the power of vision.

For a man with his kind of focus, it is only to be expected that Odili would place premium attention on education. He did. For him, emphasis on education encompassed infrastructure and manpower development at home, complemented with global benchmarking abroad. I recall an incident at the Port Harcourt International Airport. Our flight had just touched down and there was this large group of young men and women

HIS NAME IS PETER AND HE HAS BEEN A SOLID ROCK TO FRIENDS, FAMILY, STATE, NATION, SOCIETY AND HUMANITY

whose excitement literally illuminated the departure area of the airport.

Why were they so happy, I enquired? I was informed that those were students on the scholarship of the Rivers State Government who were about leaving for one of the Asian countries, either Singapore or Indonesia. Odili had opened the floodgates of overseas education to the children of all classes of parents.

In spite of the challenge of militancy and cultism, Odili was determined to make Rivers unique. At the same time, he never missed any opportunity to make Nigeria great. He believed, and I hope, still believes that the legitimate aspiration of states for greater self-expression should not be allowed to undermine national unity and political stability. As governor, he never discriminated against anybody. To him, gender, tribe, religion and all labels should never erode our sense of common humanity. With this enduring philosophy, he supported very legitimate cause to the extent that the governance environment permitted. Those who know him will agree that Odili is the epitome of compassion and philanthropy.

What I distilled from my interaction with Odili was his strong belief in the promise of a greater Nigeria; he always felt that sub-cultural nationalism should never truncate the promise of a Nigeria that would be the undeniable leader in Africa. To drive home his point, he made friends across all the divides to the extent that he was loved and admired by people - traditional rulers, religious leaders, students, artisans, etc., - all over the country so much so that at some point, his popularity or, put differently, national appeal, could only be compared to that of the late MKO Abiola. So, for those who invested emotionally and professionally in his run for president in 2007, it was from the perspective of a people who genuinely yearned for a bridge-builder, a visionary politician, a statesman who, then 59, was endowed with the energy, focus and presence of mind to consolidate on whatever gains that had been achieved post-military Nigeria. That the dream died, is now history.

However, we can take consolation that the disappointments of the past have not deterred Odili from continuing to contribute, in profound and diverse ways, to national development, the most recent being the commencement of the PAMO University of Medical Sciences in Port Harcourt, the first specialised, medicine only, university, in Nigeria.

Surprising? Not so. For those who do not know, Odili, an alumnus of the University of Nigeria, UNN, is a medical doctor. Medicine is, should I say, his second love since his first love is his wife, the inimitable Hon. Justice Mary Ukaego Odili, Justice of the Supreme Court of Nigeria! We should be grateful to this judicial Amazon, this scion of the Nzenwa royal family in Obizi, Ezinihitte Mbaise of Imo State, with her children, for standing behind this outstanding humanist, for allowing him to touch the lives of many, including mine, in unforgettable ways. His name is Peter and he has been a solid rock to friends, family, state, nation, society and humanity. We may not all be present at the anniversary; yet neither words nor gifts nor physical presence can express the depth of gratitude owed by us all.

This is wishing His Excellency, Sir Peter Otunuya Odili, CON, happy 70th birthday and many more years of God’s blessings.

THE CORRUPTION OF THE SSS To compromise the SSS is to compromise Nigeria’s internal and external security, writes Sonnie Ekwowusi

S

SS is acronym for State Security Service.

The SSS is also known as the Department of State Services (DSS). In case you don’t know, the SSS was founded

by Ibrahim Badamosi Babangida on 5th June 1986. The SSS is the foremost domestic intelligence apparatus of Nigeria. The first headquarters of the SSS, before it was moved to Abuja, was at 15, Awolowo road, Ikoyi in Lagos.

The SSS is a department within the Presidency. In other words, the SSS is an arm of the Executive.

It is under the control of the National Security Adviser and by extension under the control of the Presidency. The raison d’être of the SSS is to gather, decipher and discern intelligence within the country in order to primarily protect and defend the Federal Republic of Nigeria against internal and external threats. Pursuant to the law establishing the SSS, its main functions are essentially the prevention and detection within Nigeria of any crime against the internal security of Nigeria; the protection and preservation of all non-military classified matters concerning the internal security of Nigeria; and such other responsibilities affecting internal security within Nigeria as the National Assembly or the President, as the case may be, may deem necessary.

However given the increasing security threats in Nigeria in recent years accentuated by kidnapping, human trafficking Boko Haram terrorism and so forth, the SSS has been reinforced and re-equipped to perform other elaborate internal security operations. Over the years, the SSS, generally, has lived up to its bidding. It has been credited with performing many astounding and resounding internal security functions. For example, in 1993 the SSS arrested the Egyptian bomber Omar Mohammed Ali Rezaq who at

that time was trying to enter Nigeria through the Nigeria–Benin border. In October 2010, the SSS intercepted a huge arms and ammunition at the Apapa port in Lagos which were smuggled into Nigeria from Iran. On September 2001, some Pakistani religious sects who were invited to Nigeria by the Lagos-based Tabliq, a Muslim NGO were arrested in Benue State on suspicion of immigration violations and were subsequently deported on November 18, 2001. There are other stellar achievements of the SSS. But unfortunately in the last three years the SSS has been corrupted to the extent that it would not be incorrect to affirm, borrowing the words of Lord Acton, that SSS corrupts and absolute SSS corrupts absolutely. In the last three years Nigerians have been witnessing the pathological and perfidious deployment of the SSS to harass or intimidate perceived political opponents. The reason for this is that the SSS has been politicised.

It now behaves like one more political party. The SSS is now used by politicians to waylay their perceived political opponents in the full glare of the public. Given its founding principles and its past antecedents, the SSS ought to be intercepting the Fulani militia and dispossessing them of their sophisticated weapons which they use in killing Nigerians and threaten the territorial sovereignty of Nigeria. But unfortunately the SSS operatives have refused to do that. Instead, the SSS operatives are on the prowl, harassing, haranguing, blackmailing and intimidating perceived enemies of government.

Contrary to sections 153, 158(1), 160 , 161 and 292(1) of the 1999 Constitution the SSS under the watch of Lawal Daura was dispatched to raid the houses of some Supreme Court Justices suspected to have been corrupt (The Supreme Court Justices

whose houses were raided have been discharged and acquitted for want of evidence). The SSS under Daura was also dispatched to raid the family home of IPOB leader Nnamdi Kanu. In 2016 Daura’s SSS was dispatched to invade the Ekiti House of Assembly during which they arrested one Akanni Afolami, a lawmaker representing Efon Constituency. The SSS operatives were also dispatched to arrest and detain Journalist Jones Ebiri for two years without trial. The SSS under Daura was dispatched to prevent former Governor Ayo Fayose and his wife from entering the Government House after the Ekiti election.

Last year the SSS operatives dramatically stormed the Federal Government Girls’ College (FGGC), Calabar to mercilessly beat up some teachers of the college who had disciplined their students.

On July 24, 2018 a combined team of heavilyarmed SSS operatives led Daura and the Police was dispatched to lay siege to the respective residences of Senate President Bukola Saraki and Deputy Senate President Ike Ekweremadu in order to prevent the duo from going to the Senate and disclosing the names of former APC members who had defected to PDP. But as fate would have it, Senate President Saraki beat the security laying siege in front of his residence hands down. Thereafter he escaped, gained access to the Senate and revealed to the public the names of the defectors. As Nigerians were still trying to come to terms with that, the SSS operatives led by Daura again were dispatched to lay siege to the National Assembly. Precisely on August 7th, 2018 some heavily-masked and armed SSS operatives blocked the ingress and egress to the National Assembly. No sooner had the show of shame occurred than a wide outcry resounded across Nigeria. Thereafter the

international community heard about it and got in touch with some Nigerian government officials to ascertain the nature of the “coup” that had occurred in Nigeria.

Speculations abound on why Daura was sent to seize the National Assembly. Some speculate that the Daura-led SSS was dispatched by the All Progressives Congress to block the National Assembly gate to prevent Peoples Democratic Party members from gaining access to the National Assembly to enable APC impeach Saraki.That President Buhari had designed the whole plot to occur in his absence so that it would not be traceable to him. Others speculate that Daura was on a mission from Saraki; that Daura led the SSS operatives to block the National Assembly gate to prevent APC members from gaining access to the National Assembly to impeach Saraki. That Daura had been leaking APC secrets on how to impeach to Saraki to Saraki himself. That on getting wind of Daura’s betrayal of APC, VicePresident Yemi Osinbajo quickly called Buhari on phone and both agreed that Daura should be fired immediately.

The foregoing evidences the corruption of the SSS. It shows that the SSS has been dragged into partisan politics. Sad. To compromise the SSS is to compromise Nigeria’s internal and external security. The corruption of the SSS spells disaster.

Therefore the new SSS boss must ensure that the new SSS under his watch does not suffer another corruption. Corruptio optima pessima (The corruption of the best is worst). The SSS is not just any institution. It is Nigeria’s foremost intelligence apparatus. Therefore the new boss should ensure that the new SSS must live above board. We want a new SSS that should not be a pawn in the chess game of the politicians.

15

T H I S D AY • WEDNESDAY, AUGUST 15, 2018

EDITORIAL THE NIGERIAN PRESS COUNCIL BILL The bill is an unnecessary interference

W

anti-press freedom, being an amalgamation of the obnoxious Public Officers (Protection Against False Accusation) Decree No. 4 of 1984 and Newspapers Registration Decree 43 of 1993, both vestiges of the dark days of military rule and, therefore, incurably and irreparably bad, being also inconsistent with values of our democratic society,” the NPO statement said.

e join the Nigerian Press Organisation (NPO) and the Broadcasting Organisation of Nigeria (BON) in vehemently rejecting the proposed Nigerian Press Council Bill 2018 as an unconstitutional piece of legislation meant to muzzle free speech. After a careful perusal of the provisions of the proposed bill in the context of its implications for free speech, press freedom, media independence and safety of journalists, the NPO has dismissed it as an unnecessary interference. Since there are already sufficient laws in the statute books for any legal redress for aggrieved persons, we agree that this is a needless bill.

O

Sponsored by the Senate, the NPC 2018, which has gone through second reading, seeks to repeal the Nigerian Press IT RUNS AGAINST THE Council Act of GRAIN OF LOGIC THAT THE 1992 and create GOVERNMENT IS SCHEMING an oversight body THROUGH THE BACKDOOR that will regulate TO REGULATE THE SAME media practice GATEKEEPERS THAT OUGHT in Nigeria. But TO KEEP PUBLIC OFFICIALS already there is ON THEIR TOES AND HOLD a groundswell of opposition THEM TO ACCOUNT from the media stakeholders against the bill. Aside the NPO and BON, the Nigeria Union of Journalists (NUJ), the Newspaper Proprietors’ Association of Nigeria (NPAN) and the Nigerian Guild of Editors (NGE) voiced their objection to the bill they perceive as a smokescreen to curb their role as the watchdog and limit their ability to hold the organs of government accountable.

There are also legal matters that are being ignored. The proposed bill is unconstitutional as it runs against the principles and tenets of the rule of law. Besides, the proposed bill is also sub judice, given that a case on the subject matter is still pending at the Supreme Court. “That the bill is, for all intents and purposes, draconian and

Letters to the Editor

ne of the most annoying provisions in the proposed bill is the attempt to criminalise professional conduct by jailing journalists found to have breached the code, rather than discipline them in line with the ethical codes of the profession. The federal government is also accused of overtly scheming to dominate the composition of the NPC by nominating the chairman, secretary, in addition to the council representatives from BON, the Federal Ministry of Information and other professional bodies. The lopsidedness that will arise from that composition where government appointees will outnumber media stakeholders was, indeed, one of the grounds for the legal proceedings instituted against the federal government by the NPO as the proposed bill contradicts section 22 of the 1999 Constitution. It runs against the grain of logic that the government is scheming through the backdoor to regulate the same gatekeepers that ought to keep public officials on their toes and hold them to account.

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

We align ourselves with the position of the NPO and indeed wonder when it has become the duty of government to regulate the media by sponsoring draconian, unconstitutional, anti-people and anti-free speech bill. While we agree that there is no freedom without responsibility, our opposition to the NPC bill stems from the fact that it will create undue interference in the operations of the media in Nigeria. In addition we believe that self-regulation subject to the existing laws of the land is the best guarantee for media freedom in a democratic society. Therefore, making government enforce codes and standards for all journalists under whatever guise will subjugate their autonomy.

We urge the National Assembly to throw away the NPO Bill.

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.

BUHARI, NORTH AND THE BYE-ELECTIONS

W

ith 2019 general elections less than a year away, the August 11, 2018 federal constituency bye-elections in Bauchi, Katsina and Kogi States were used by the voting population as a referendum on recent happenings in the polity, especially the gale of defections, alignment and realignments across political parties and the ‘hide and seek’ politics in the National Assembly.

The bye-elections, conducted in the three states from three different geo-political zones in Nigeria was a strong message from the masses to the Nigerian political elites - ‘Do your thing using power and authority at your disposal; while we do our thing by the power of ballot box’.

The bye-elections brought some important political matters to public glare - majority of Nigerians see the recent gale of defections as purely motivated by personal interests rather than national. This means the majority of people who voted in the 11 August 2018 bye-election cast their votes for APC regardless of who have defected to which party. To most people, defections are seen as battle between the elite and Buhari. Naturally Nigerians are thrilled when political elites experience discomfort.

On another hand, the gale of defections has by default become a blessing for APC and its candidates in the byeelections in Bauchi, Katsina and Kogi. The massive votes

the APC candidates got during the bye-elections were not a reflection of their individual popularity or capacity to win by such figures, rather the votes were for Buhari. In fact, many people have vowed not to vote for parties but individuals; however recent political developments have unconsciously reignited the APC ‘Sak’ mantra in the north, which is purely a vote for Buhari against what the masses see as the gang up against Buhari by the elites.

The bye-election has given President Buhari a reassurance that his stronghold still has confidence in him, and at the same time, it has thrown a huge challenge to the president.

It presents him a golden opportunity to consolidate his support base independently and also use public opinion as a guide to correct some mistakes in his administration. Buhari should double his efforts to tackle the real issues affecting the masses - high cost of living and insecurity. Politicians in the APC who still feel sidelined in the scheme of things need to be considered - this can be achieved by collaborating with state governors.

Furthermore, the bulk of Buhari supporters in his stronghold are new generation, young educated northerners who always ask questions and cannot simply be shepherded by anyone but logical reasoning. Buhari should personally make sure these young ones are reached with employment and uplift their businesses and other endeavours. Many people

around the president have failed to make impact in reaching young people at grassroots. The Buhari government should create additional infrastructure development activities that will engage people, like massive housing projects in all the 36 states. This type of project will trigger huge jobs across board and also serve as a template for fighting poverty. A right step already taken in this direction is the federal government recent approval for Central Bank of Nigeria (CBN) to grant small loans and the Trader Moni initiatives.

On another hand, the bye elections also showed that there have been noticeable improvements in the conduct of elections in the country. We must commend the Independent National Electoral Commission (INEC). The commission was able to stop cases of votes stuffing, rigging and other official election malpractices. Nigeria has had unsavoury electioneering situations in the past, like election results being announced while votes were still being collated, declaring the ruling party victorious with numbers exceeding the number of registered voters. All these are now impossible.

Though there are complaints of vote-buying from all sides, this can be combated with improved voter education.

However, this is an indication that the Buhari administration has forced politicians back to their senses - that the voter is ultimate.

Zayyad I. Muhammad, Jimeta, Adamawa State

16

WEDNESDAY AUGUST 15, 2018 ˾ T H I S D AY

NEWS

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

Osinbajo Orders IG to Overhaul SARS Idris appoints coordinating commissioner Sets up human rights desks across states Omololu Ogunmade and Senator Iroegbu in Abuja Acting President Yemi Osinbajo yesterday ordered the Inspector General of Police (IG), Ibrahim Idris, to dismantle the management and composition of the Special Anti-robbery Squad (SARS) of the Nigerian Police Force (NPF) with immediate effect.

In compliance to the presidential directive, Idris has ordered the immediate overhauling of the outfit to address complaints and allegations on human rights violations against some of its personnel.

Osinbajo has also directed the National Human Rights Commission (NHRC) to set up a special panel that would conduct an investigation into the alleged unlawful activities of SARS. He also directed Idris to ensure that any unit that would emerge from the overhaul process is intelligence-driven.

Osinbajo also instructed the police boss to ensure that such unit is restricted to the prevention and detection of armed robbery, kidnapping and apprehension of offenders linked to stated offences, and nothing more.

A statement by Osinbajo’s spokesman, Laolu Akande, said the order was sequel to the persistent complaints and reports on activities of SARS which border on allegations of human rights violations.

Akande said the acting president also directed the IG to ensure that all operatives in the emerging unit conduct their operations in strict adherence to the principles of rule of law and observance of international human rights law and the constitutionally guaranteed rights of suspects.

“The acting president has also directed the IG to ensure that all operatives in the emerging unit conduct their operations in strict adherence to the rule of law and with due regard to International Human Rights Law and the constitutionally guaranteed rights of suspects.

The operatives should also bear proper identification anytime they

are on duty,” the statement said.

Akande also said Osinbajo directed “the NHRC to set up a special panel that would conduct an investigation into the alleged unlawful activities of SARS in order to afford members of the public the opportunity to present their grievances with a view to ensuring redress.”

As part of the steps taken to implement the presidential directive, the Force Public Relations Officer (PRO), DCP Jimoh Moshood, in a statement yesterday said in the new arrangement, a new Commissioner of Police has been appointed as the overall head of the Federal Special Anti-Robbery Squad (FSARS) nationwide.

Moshood said FSARS, previously under the Force Criminal Intelligence and Investigations Department (FCIID), is henceforth to operate under the Department of Operations, Force Headquarters Abuja.

He noted that the Commissioner of Police (FSARS) is answerable to the IG through the Deputy Inspector General (DIG) of Police, Department of Operations.

Moshooh also said in observance of full compliance with the presidential directives, the FSARS would be intelligencedriven and be restricted to the prevention and detection of armed robbery, kidnapping and the apprehension of offenders linked to the stated offences only.

According to him, the new FSARS Commanders are being appointed across the country that will now exist and operate in the state and zonal commands under the Commissioner of F-SARS at the Force Headquarters, Abuja.

He also said Federal SARS Commander of a Rank of Chief Superintendent of Police (CSP) but not below Superintendent of Police (SP) will be in charge of FSARS in state and zonal commands across the Country.

The Force PRO also said all Commissioners of Police have been directed by the IG to comply with this directive with immediate

I am Not Desperate to be President, Says Atiku Adibe Emenyonu in Benin-city Former Vice President of Nigeria and presidential aspirant of the Peoples Democratic Party (PDP), Alhaji Atiku Abubakar, has said he is not desperate to be president of the country, adding that what is driving him is the spirit to serve the country.

Atiku, who reiterated that he would not leave the PDP even if he lost the party primaries, said he would have become president in 2003 if he were desperate.

Speaking to journalists after meeting with the Bénin Monarch, Oba Ewuare II, as part of his national-wide consultation tour, the Turaki Adamawa said he stepped down for late Moshood Abiola in 1993 in the interest of the country.

According to him, “What do you expect my critics to say? I can run as many times as I want. I am fit , qualified and still have ideas to put this

country on the right path. What is wrong in trying again and again?

“I am not desperate to become president. If I were desperate, I would have taken the presidency in 2003. If I were desperate, I would not have step down for Abiola. I have the interest of this country.”

Meanwhile, the Benin Monarch has said he would always pray to God and his ancestors for emergence of leaders that would cater for the poor.

The Oba urged politicians to tackle security challenges in the country, saying Nigeria would remained underdeveloped if security matters are not thoroughly handled.

Oba Ewuare II, who spoke when Atiku visited his palace, said Nigeria would remained indivisible despite the current security challenges.

Atiku later met with Edo State PDP delegates at the party secretariat.

effect and warned their personnel not to pose as SARS operatives.

He stated that the IG’s X-Squad and Monitoring Unit have been mandated to go round the Commands and Police Formations nationwide to ensure strict compliance with the Presidential directives and apprehend any erring police officer.

Moshood further stated that a new Standard Operational Guidelines and Procedures, and code of conduct for all FSARS personnel to ensure that their operations is in strict adherence to the rule of law and with due regards to international human rights law and constitutionally guaranteed rights of suspects will be enforced in totality by

the Commissioner of Police, FSARS. He listed other measures to be implemented by the Force in observance of full compliance with the presidential directives including: Human Rights Desk Officers for FSARS in every State to take complaints from the public and forward same to Force Headquarters, the officer will be answerable to the Commissioner of Police, FSARS at the Force Headquarters and not Commander FSARS in the States.

“Medical/Psychological evaluation of all FSARS personnel will be carried out immediately.

Redesigning of new uniform with identity name tag for all FSARS

personnel throughout the Country will be done immediately.

Henceforth, FSARS personnel will not perform Stop and Search duties except on distress call to respond to armed robbery and kidnapping offences only,” he added.

Moshood assured the Force will be transparent, cooperate, and work cordially with the National Human Right Commission (NHRC) on the special panel that will conduct an investigation of the alleged unlawful activities of FSARS to address grievances from the public against the personnel of FSARS in compliance with the presidential directives.

He further stated that a new training programme to

be organised by the Force in collaboration with some Civil Society Organisations (CSOs), local and international NGOs, and other human rights organisations on core police duties, observant of human rights and handling, care and custody of suspects have been directed by the Inspector General of Police for all Federal SARS personnel nationwide with immediate effect.

He said these CSOs, are to pay unscheduled visits to FSARS formations across the country with particular attention to States with high complaints index, to assess facilities and situations in these States and submit report to the Inspector General of Police on regular basis.

70 HEARTY CHEERS

L-R- Wife of the former Rivers State Governor, Justice Mary Odili; former Rivers State Governor, Dr. Peter Odili; Rivers State Governor, Nyesom Ezenwo Wike; wife of Rivers State Governor, Justice Eberechi Suzzette Nyesom-Wike, and former President, Court of Appeal, Justice Umaru Abdulahi, during the 70th birthday public lecture in honour of Dr. Odili in Port Harcourt...yesterday

Tinubu: Obasanjo Can’t Stop Buhari in 2019 President can’t win, free, fair election, says Nyiam Shola Oyeyipo and Segun James Former Lagos State Governor and National Leader of the All Progressives Congress (APC), Senator Bola Tinubu, has assured Nigerians that despite the antagonism of former President Olusegun Obasanjo, the former president cannot stop the second term ambition of President Muhammadu Buhari.

But one of the leaders in Southern Nigeria, Col. Tony Nyiam (rtd), said President Buhari lacks leadership qualities and cannot win any free and fair election.

Tinubu who made the assertion yesterday while addressing a special stakeholders meeting of the All Progressives Congress (APC) in Lagos, also blamed the state of affairs in Nigeria on the former leader, who he accused of not leading Nigeria well while at the helm of affairs.

Obviously unhappy with what he described as frequent attacks on the President Buhari-led administration by Obasanjo, Tinubu told the gathering that Obasanjo’s criticisms would not be enough to stop Nigerians from voting for President Buhari

in the next general elections.

“President Muhammadu Buhari has done well. He deserves another term and we will support him to win because he is our man. “Forget about Obasanjo’s letters and his frequent attacks on our president. He cannot stop the president because Nigerians would re-elect him.

“Obasanjo has spent his own time and as such, he should leave Buhari alone and face his business because he cannot tell us who to vote for. The former president is part of the challenges we are facing in the country presently and that is because he did not lay the right foundation when he was president,” he said.

On the decision of some APC members to defect to the Peoples Democratic Party (PDP), Tinubu said the defections would also not stop Buhari’s re-election.

“Those who want to defect can defect; that is their problem.

APC remains unshaken and these people will know the reality in the election,” he said.

According to him, the party was not shaken by the defections.

He reassured party loyalists that the APC is on course and that it will get victory in 2019.

The APC leader said the results of the Kogi, Katsina and Bauchi States by- elections won by the APC are indications of how the general elections would go.

Tinubu also told Lagos APC members that the direct primary experimented in Osun State would also be applied in the Lagos APC primary.

He therefore urge members to obtain their membership cards, stressing that new members should meet their chairmen to collect their cards which would allow them participate in the primary election.

“We will open a register for every member and we do everything possible to make sure that you all collect your membership cards,” he told the gathering.

The APC leader commended the acting President Yemi Osinbajo for his prompt response to the invasion on the National Assembly by men of the Department of State Security (DSS).

But speaking in an exclusive interview with THISDAY, Nyiam insisted that President Buhari cannot win free and fair election, and urged Nigerians to resist

any attempt to rig the election by the APC. “There is election coming; Nigerians should not allow Buhari to rig the election because from all indications, he would not win a free and fair election, even people in the North-west are divided over his candidacy, so are you telling me the Igbo man will vote for Buhari?

“Are you telling me, as knowledgeable as the Yoruba people are, and as Yoruba land has been attacked by Fulani herdsmen; they did not even respect the Yoruba land and its leaders who made Buhari president – will they vote for him? So, if that can happen in Buhari’s first term, what should they expect in second term?

“Are you also telling me that the man in the Middle Belt, the the North-central zone; the man in Southern Borno, that is Chibok area; the man in Adamawa, Taraba and Benue States will really vote for a president whose victory would mean more killings of their people?

“So, all Buhari could be banking on is rigging the election.

And all those people who are rushing to him are relying on that.”

WEDNESDAY AUGUST 15. 2018 ˾ T H I S D AY

17

NEWS

Ethiopian Airlines Not Favoured to Manage Nigeria Air, Says FG NAMA boss: Establishing strong airline needs govt input Chinedu Eze The federal government has faulted the claim by the Ethiopian Airlines’ Chief Executive, Tewolde Gebremariam, that the airline is favoured to establish and manage the new ‘Nigeria Air.’ This is coming as the Managing Director of the Nigerian Airspace Management Agency (NAMA), Captain Fola Akinkuotu has said the private sector cannot establish a strong airline in the country without government input.

The Minister of State for Aviation, Senator Hadi Sirika, faulted the claim yesterday through the Deputy Director, Media and Public Affairs, Mr. James Odaudu.

Sirika’s statement was a response to the enquiry by the

News Agency of Nigeria (NAN), to the claim by Gebremariam recently in Addis Ababa.

Sirika said even if Ethiopian Airlines had tendered an offer to be partner, it is preposterous and misleading for Ethiopian Airlines boss to make such a statement.

According to him, discussions are ongoing with prospective partners and investors ranging from development finance institutions, airlines and Original Equipment Manufacturers (OEMs).

“And these discussions are not limited to the establishment of a national carrier.

“There are other components of the Aviation Roadmap for which investors are being sought.

“These include the establishment of an MRO centre,

cargo terminals, concession of airports, establishment of an Aviation Leasing Company.

“I don’t know about Ethopian Airline or any other prospective investors being favourites or frontrunners to establish and manage Nigeria Air. “The public and prospective partners and investors are hereby assured that the processes for the establishment of the national carrier, and indeed other projects in the roadmap have been guided, and would continue to be

guided by the national policy on Public Private Partnership (PPP) and it’s elements of transparency, accountability and the overall public interest,” he said.

Ethiopian Airlines boss last week said his airline is the frontrunner to set up and manage a new national carrier for Nigeria.

Gebremariam was quoted as saying his airline is among a small group with an interest in establishing a national carrier, adding that “we do not know the results (of the tender), though

we are frontrunners”.

In a related development, the Managing Director of the Nigerian Airspace Management Agency (NAMA), Captain Fola Akinkuotu said the private sector cannot establish a strong airline in the country without government input because it is capital-intensive.

Akinkuotu who spoke exclusively to THISDAY said Nigeria has not been able to have successful airlines because they are usually small operators

that cannot sustain service for a long time.

He said average life span of Nigerian airlines is 10 years.

The NAMA boss who is a member of the national carrier committee, said without government commitment and support, it would be difficult to establish strong and big airline that can compete with global mega carriers because Nigeria as sovereign nation has more credit available to it than private investors.

Buhari Not Under Foreign Pressure to Abort 2019 Ambition, Says Presidency Omololu Ogunmade in Abuja

The presidency yesterday deplored a report that some foreign powers are mounting pressure on President Muhammadu Buhari not to seek re-election in 2019.

A national daily (not THISDAY) had reported that notable countries like the United States, United Kingdom and Saudi Arabia had been mounting pressure on the president to shelve his re-election ambition.But in a swift reaction, the President’s Special Adviser on Media and Publicity, Mr. Femi Adesina, described the story as a fiction, insisting that those countries are democratic nations that would never interfere in the operations of another country.

Adesina argued that it is only those who fear that his reappearance at the poll would mean bad business for them that were urging him not to run.

According to him, contrary to the report, it is rather such mentioned countries that have thrown their weight behind Buhari in appreciation of the leadership he has provided in Nigeria.

According to him, the fiction parading as news claims that

foreign powers, including the European Union, United States of America, United Kingdom, and Saudi Arabia, are putting pressure on President Buhari not to seek re-election, due to some concocted reasons.

“We thought fake news was the sole preserve of the social media in this season. Alas, a traditional medium has caught the bug. Obviously, the author of the story just got a brain wave or got procured by anti-democratic elements, and then penned the mischief.

“If there are quarters in which President Buhari is held in very high esteem, the work he is doing for Nigeria is highly lauded in the countries mentioned.

“Some of them are equally bastions of democracy, and will not interfere in the democratic affairs of a sovereign country.

“President Buhari is not a flippant or frivolous individual.

He gave deep thought to the prospect before announcing his bid for a second term in office.

“It is only those who fear that their goose would be cooked if they meet him at the polls that are trying to dissuade him from running by all means, including sponsored newspaper stories.

Kaduna Deputy Speaker Resigns Position John Shiklam in Kaduna The Deputy Speaker of the Kaduna State House of Assembly, Hon. John Audu Kwaturu, has resigned from his position.

Kwaturu, who defected from the All Progressives Congress (APC) in the state to the Peoples Democratic Party (PDP) last week, tendered his resignation letter as the Deputy Speaker to the Speaker of the assembly in the state yesterday.

“I hereby tender my letter of resignation as the Deputy Speaker of Kaduna State House of Assembly. I appreciate the opportunity given me to serve in that capacity. Thanks,”

Kwataru said in the oneparagraph letter.

Giving reasons for defecting from the APC last week, the lawmaker had cited impunity and lack of internal democracy in the party.

“I came to realise that most of the party supporters have left due to the impunity and division in the local government areas and the state level of the party.

“After due consultations with stakeholders in my constituency, we decided that the APC is no longer a platform that can promote our aspirations,” Kwataru said, after withdrawing from the party in his Kwataru ward, Kachia Local Government Area.

WELCOMING THE GODFATHER

Lagos State Governor, Mr. Akinwunmi Ambode (right), exchanging pleasantries with National Leader, All Progressives Congress (APC), Bola Ahmed Tinubu (left), while APC Lagos Chairman, Alhaji Tunde Balogun (middle), watches with admiration during APC stakeholders’ meeting in Lagos...yesterday

NUJ Condemns Arrest, Detention of PremiumTimes Reporter The Nigeria Union of Journalists (NUJ) has condemned the arrest and detention of Premium Times Reporter, Samuel Ogundipe by the police at the detention facility of the Special Anti Robbery Squad (SARS) in Abuja.

Ogundipe was arrested for reporting the letter by the Inspector General of Police, Ibrahim Idris, to the Acting

President, Prof Yemi Osinbajo on the sacked and detained Director General of the Department of State Service (DSS), Malam Lawal Daura.

The NUJ in statement signed by its National President, Abdulwaheed Odusile, said it was horrified by the constant harassment and molestation of journalists by the police and other agents of the state and requested

that such should abate forthwith.

It noted that confidentiality of sources is necessary for good journalism to flourish, adding that journalists should not be coerced into revealing such sources.

“The NUJ is horrified by the constant harassment and molestation of journalists by the police and other agents of the state and requests that such

should abate forthwith.

“It should be noted that confidentiality of sources is necessary for good journalism to flourish and journalists should not be coerced into revealing such sources.

“We call for the immediate and unconditional release of Samuel Ogundipe and an end to all forms of impunity against the media.”

Osinbajo Hails Onnoghen’s International Recognition Omololu Ogunmade in Abuja Acting President Yemi Osinbajo last night in Abuja congratulated the Chief Justice of Nigeria, Justice Walter Onnoghen, on his conferment with the 2018 Michael Hill Prize by the International Society for

the Reform of Criminal Law (ISRCL) in Montreal, Canada.

According to a statement by his spokesman, Laolu Akande, Onnoghen was honoured at the 31st conference of the ISRCL, an international nongovernmental association of judges, legislators, lawyers,

academics, governmental officials, police and corrections’ professionals.

He quoted Osinbajo as saying that the award was in recognition of Onnoghen’s hard work and commitment to the development of the country’s judicial system.

“It is heart-warming to see Your Lordship’s hardwork and commitment to deepening reforms for a more effective administration of justice system in the country has received international attention and commendation from such a prestigious association.”

Political Logjam: CAN Declares Three-Day Prayers Nationwide Paul Obi in Abuja

Following the political standoff between the presidency and National Assembly, the Christian Association of Nigeria (CAN) yesterday declared three days of prayers nationwide.

According to CAN acting General Secretary, Joseph Damarola, the need for

nationwide prayers has become imminent given recent attempts to derail Nigeria’s democracy.

It said the nationwide prayers would take place between August 27 and 29, 2018.

The body had earlier frowned at the involvement of security agencies, particularly the Department of State Service

(DSS) and the Nigerian Police in the invasion of the National Assembly in Abuja.

Daramola explained that “following the recent political drama unfolding in our country that is becoming really embarrassing and constituting big threat to our nascent democracy, the leadership of CAN has called for a three-day

prayer in all the churches in Nigeria for the divine protection of our country and democracy.”

He added that the nationwide prayer is also meant to seek the face of God in order “to frustrate the efforts of evil men among politicians in the country and to prevent them from being elected in office in 2019.”

18

T H I S D AY • WEDNESDAY, 15, AUGUST, 2018

MIDWEEKPOLITICS

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

THE NEWSMAKER

ADefectors’ Walk of Fame Yinka Olatunbosun writes that Governor Aminu Tambuwal of Sokoto State may not have rustled any feather with his recent change of political party loyalty

A

minu Waziri Tambuwal’s emergence as a serial defector or one aptly deserving of a star in Defectors’ Walk of Fame clearly hinges on his political antecedent. Beginning in 2003, on the platform of the All Nigeria Peoples’ Party (ANPP), Tambuwal was elected into the House of Representatives from the Kebbe/Tambuwal Federal Constituency. But a few months to the 2007 general elections, he defected to the Democratic People’s Party (DPP) alongside the former Governor of Sokoto State, Attahiru Bafarawa. The land was not so green at DPP as the party denied return tickets to former ANPP legislators. Like an actor on cue, Tambuwal returned to ANPP to be eligible to pick up a ticket. As the story turned out, the governorship candidate for Sokoto State in 2007 on the platform of ANPP, Alhaji Aliyu Wamakko defected to People’s Democratic Party (PDP) to contest for the governorship polls with Senator Bello Gada as his running mate. And he won. That was Tambuwal’s cue to leave the party as well.

In 2005, Tambuwal defected to PDP. Two years later, he was elected as the Deputy Chief Whip while serving as a member of the House of Representatives. His political portfolio is quite rich, parading positions such as Chairman of the ad hoc committee set up to review the report of the controversial power probe committee headed by Hon. Ndudi Elumelu and acting Chairman, House Committee on Power, to mention but a few.

The latest in the series of defections by the Governor of Sokoto State was his defection from the All Progressive’s Congress (APC) to PDP. It was a development that left some throats dry for several reasons. One reason is that as one of the key players in the Sokoto Caliphate’s politics, Tambuwal’s defection to PDP, like Senate President, Bukola Saraki’s, was considered as a potential threat to President Buhari’s second term bid. What with the declaration he made regarding his intention for the presidential seat alongside a very critical appraisal of the APC-led government.

He declared: “In line with the best traditions in any major political decision, especially by a serving elected Governor, I have painstakingly consulted far and wide on whether the present political platform is viable for achieving the aspiration of our people.

“It is because I am convinced that no nation can thrive while there is inequity and bad governance; because I am saddened by the fact that lethargy, incompetence and sustained denial of obvious leadership missteps have become the major raw materials with which the Nigerian state, Nigerian youths and peoples; because I am unable to feel at ease in the face of a progressively divided nation and above all, because I am totally unable to reconcile myself to a national leadership that offers no redeeming moral beacons that I am here with you today, to announce withdrawal of my membership of the All Progressives Congress and return to the People’s Democratic Party.’’

Nigerians saw it coming: Saraki, Tambuwal, Governor Samuel Ortom (Benue state) and Governor Abdulfatah Ahmed (Kwara State) had met with PDP leaders in Ilorin, Kwara State in a move to mobilise against President’s Buhari second-term bid.

After this stunning declaration, no fewer than 18 of 30 lawmakers in Sokoto state had joined him in defecting to PDP. In fact, it was widely reported that a great number of his supporters turned the Sultan Abubakar III International Airport in Sokoto to a pilgrimage of sorts while welcoming Tambuwal back to the city and yes, PDP. A quick flashback to October 28, 2014 holds the memory of this political actor defecting

Tambuwal

from the then PDP to the opposition party APC. In just a few days, he was stripped off his security details by the Inspector General of Police. It was one of the numerous embarrassing moments in the nation’s democratic rule- one that Tambuwal couldn’t have forgotten.

The convenience and frequency of Tambuwal’s defections seem to accentuate the assertions of many viewers of this political drama that our political parties lack serious ideological divide. Hence, it is easy to switch lanes, even at a blind spot. Tambuwal’s decision

The convenience and frequency of Tambuwal’s defections seem to accentuate the assertions of many viewers of this political drama that our political parties lack serious ideological divide.

Hence, it is easy to switch lanes, even at a blind spot

to join the Presidential race under PDP fits the description of a very anxious driver, willing to overtake a seemingly slow driver ahead at a blind spot. There are two outcomes with that move, one is favourable while the other is obviously not.

But like every good driver, the knowledge of your car’s efficiency or failures are bound to inform your judgement and in turn your decision.

Tambuwal’s judgement may have been founded on his areas of strengths. Regardless of what his critics have to say, Tambuwal’s tenure as the speaker of the House of Representatives was not as decorated with corruption scandals as it was with his predecessor, Hon. Dimeji Bankole who was charged to court on a 16-count charge of contract inflation and another 17-count charge for illegally obtaining loans worth billions of naira and other financial malpractices. But upon his defection to PDP as Governor of Sokoto state eyeing the presidential seat, his critics have bombarded him with questions around the appropriation of the N18.3billion Paris Club refund; N38.7billion bailout funds; N10.5 billion salary and pension arrears and N8.7billion CBN/FGN Agric interventions fund and N2.2 billions ecological funds from the Federal government.

With the precision of a Formula One driver’s overtaking measures, Tambuwal has to demonstrate his political strength in this ambitious presidential bid with the formidables such as Nigeria’s former Vice President, Alh. Atiku Abubakar; Senate

President, Dr. Bukola Saraki, Gombe State Governor, Ibrahim Dankwambo and former Governor of Kano State, Rabiu Kwankwaso and of course, the incumbent President, on the side of the opposition, Mohammadu Buhari.

As he courts the blind spot in the presidential race, the former Governor of Sokoto State and the Chairman of the Northern Senators Forum, Senator Aliyu Wamakko sent a warning signal on Tambuwal’s legitimate ambition, describing it as the worst decision of his life.

“I think may be something else is guiding his decision. This is the worst decision he has taken in his life.

At his age, he should not be in a hurry.

He is a fine young politician, I have a lot of respect for him,’’ he said.

From another school of thought, Tambuwal’s defection may not be his worst decision- joining politics in the first place could well be it given his background in legal practice. He could have been a very smart litigator, “defecting” from one area of specialization to another.

But for what it is worth, Anthony Akinola’s views in the book, Democracy in Nigeria: Thoughts and Selected Commentaries (2013) should be a reminder for defectors and wouldbe defectors in making well-informed decisions.

He wrote: “However, our elected politicians are enjoined to respect their mandates and stop prostituting themselves. Defecting from one political party to the other does not help the cause of a stable, competitive party system.’’

Truly, frequent defections have a way of befuddling our collective intelligence.

19

T H I S D AY • WEDNESDAY, 15, AUGUST 2018

POLITICS

A Senator’s Thoughts on Good Governance Forging ahead in its mandate as a research centre on sustainable development, the University of Ibadan Centre for Sustainable Development (CESDEV) recently featured Senator Peter Adeyemo who shared his thoughts on citizens’ participation in governance and inclusive prosperity for Nigeria. Ademola Babalola reports

C

entre for Sustainable Development (CESDEV) ranks as a foremost intellectual platform for helping the leadership of the country to find enduring solutions to issues relating to sustainable

development.

Recently, Senator Peter Adeyemo was at CESDEV to speak on ‘Citizens Participation for Corresponding Good Governance’. Adeyemo who served in the Red Chamber between 1999 and 2003 is a professional in the field of Architecture, Urban and Regional Planning.

With his experience in the various committees of the Senate, Adeyemo could be counted on to unravel knotty issues in governance and seem apathy in the citizenry.

The Distinguished Senator studied at the University of Naples, Italy from 1980 to 1987 where he obtained a Doctoral degree with distinction (Soma con lode) in Architecture and Planning; Naples. He was the President Nigerian Students Union, Campania Region, from September, 1983 to June, 1987 before crowning it with the Italian National Professional Practice examinations in November 1987.

Adeyemo was therefore the cynosure of all eyes at the town and gown event.

For Adeyemo who had supervised several M.Sc theses while at the Obafemi Awolowo University, and ranked tops at various appraisal study groups on some major government architectural design projects, the problem with Nigeria stemmed from the sublime to the ridiculous.

Accordingly, he said there was a need for all Nigerians to rise in defense of the current

Senator Peter Adeyemo

democratic journey towards birthing the much-talked about progress for the country.

Adeyemo, a prolific writer and community leader, emphatically stressed that Nigeria’s future hangs on participatory democracy, sacrifice and truthfulness on the part of those saddled with the position of authority.

On his experience as a representative of the people in the National Assembly, Senator Adeyemo stated, “The necessity for achieving clarity in constituents’ expectation to assist the elected representatives is the main purpose of writing effective representation manual which revolves around 12 major issues of concern in

representation inclusiveness and effectiveness.”

According to him, the 12 silver bullets for inclusive prosperity for Nigeria’s operative covenant of democratic representation would enable constituents and stakeholders to monitor and evaluate performance and hold accountable those who have the constitutional obligation to perform functions and leadership roles which determine the quality of life and safety of their constituents.

Adeyemo stressed the need for access to quality education, basic health care services, infrastructure master plan, accountability in governance, fight against corruption and necessity to engage professional, educational and research institutions to fulfill their social responsibility to innovate for business and public service.

He added, “As the citizens’ empowerment for open and inclusive governance, non-partisan public scrutiny is essential for a healthy democracy. Transparency and accountability is never given on a platter of gold; it is usually rigorously contested and fought for. The reality of state capture in many democracies should not be treated with kid gloves; the legitimacy conferred by periodic elections on authoritarian elected autocrats makes engagement with them very difficult.

“Each of them has a well-oiled base with the stolen wealth of the nation as a war chest exceedingly effective in poverty-ridden transitioning democracies, which is the reason for their poverty. Lack of accountability and transparency discourages participation, and lack of participation in turn encourages lack of accountability and transparency, and a

vicious circle is thus constructed. Non-Partisan Accountability Committees therefore become essential for: social auditing and an open, transparent, and participatory budget process, and representation satisfaction.

“Just the way things are done – together. All is seen, everyone considered important in the process as well as in the outcome. Autocracy, dependence on an imaginary messianic political figure should not be mainstreamed into the political culture and breed passive do-nothing citizens. A political figure that will fulfill government obligations and shoulder citizens’ social, political, and economic responsibilities, does not exist, it is utopian.

“Citizens social responsibility is to be organised, political responsibility is to participate in democratic governance process.

Economic responsibility is to be educated, acquire marketable skill, be the best he/she can, work and pay taxes mandated by law.

Democracy and development require vision and what we make of the vision depends on our commitment as a democratic community to work hard and reject cynicism.”

Going forward, Adeyemo said, “I think the future will not belong to those who are cynical or those who stand on the sidelines.

The future will belong to those who have passion and are willing to work hard to make our country better.”

At the event were lawmakers led by the speaker of the Oyo State House of Assembly, Hon. Gunju Ojo, represented by the house spokesman, Joshua Oyebanji; the Director, CESDEV, Prof. Olanrewaju Olaniyan, staff and scores of students of the centre.

Taiga Raises Urhobo Flag As the President-General Urhobo Progress Union (UPU), Olorogun Moses Taiga has given effective leadership to his kinsmen, writes Shola Oyeyipo

I

n the history of the Niger Delta region, there has been various individuals that took up the responsibility of leadership on behalf of their people, who they believe have not had a fair share in the scheme of things in Nigeria.

Not a few Nigerians will forget the names of the likes of nationalist Justice Udo Udoma who pioneered the COR State (Calabar Ogoja Rivers) Movement-the first organised group for self determination in Nigeria, soldier and pioneers of minority rights activist in Nigeria, Major Isaac Jasper Adaka Boro; environmental activist, and winner of the Right Livelihood Award and the Goldman Environmental Prize, Kenule Beeson “Ken” Saro-Wiwa; foremost Ijaw and Niger Delta leader, septuagenarian leader of Pan Niger Delta Forum (PANDEF), Chief Edwin Clark; humanitarian worker and rights activist, Chief Rita Lori-Ogbebor and a host of other prominent personalities who at the risk of paying the ultimate price, spoke out loud on the plights of their people.

One of such persons in contemporary Nigeria is the President-General, Urhobo Progress Union (UPU), Olorogun Moses Taiga. He emerged president-general of the highest Urhobo umbrella body after traditional rulers, community heads and members of the Board of Trustees (BoT) of the UPU organised an election that ended the ambition of factional leader, Chief Joe Omene.

After all the intrigues that charactetised the UPU leadership tussle in December 2016 and Moses Taiga emerged president-general, unopposed, Chief Okotie Osiobe became the First Deputy President-General and Capt. Anthony Onoharigho became second Deputy PresidentGeneral. Abel Opudi became treasurer, while Mr. Abel Oshevire was voted Publicity Secretary with Dickson Oyovwe as his assistant. The

Taiga

position of assistant legal adviser was won by Omovie Itebu. And ever since, their leadership has never relented in putting issues concerning the Urhobo nation, the Niger Delta and Nigeria at large in proper perspectives.

A die-hard advocate of restructuring, Taiga has particularly been disturbed about the activities of herdsmen who he accuses of slaughtering people like animals. He has insisted the federal government must abandon the proposal to establish cattle colonies for herdsmen, maintaining that “no inch of land in Urhobo nation will be ceded for that purpose.”

Leading Urhobo nation, which spreads across 24 kingdoms in eight local government areas of Delta State, was relatively easy for Taiga, a multifaceted businessman, humanitarian,

philanthropist and patriot, who exemplifies the best of an old tradition of Urhobo leadership.

Since his leadership took strong footing among his people, he has intervened in various capacity.

Apart from calling on President Muhammadu Buhari and all other relevant authorities to wade in on the escalating herdsmen menace across Urhoboland, he has continually bargained a better deal for the Urhobo nation.

He is predominantly preoccupied with how his Urhobo ethnic group would take its pride of place in Delta State and in the country. He always corrected the insinuation in some quarters that Urhobo land is part of the territory being claimed by Biafra secessionists and he advocates empowerment for youths and women.

Top on his agenda as UPU President-General, according to him, is, to honour the second President General of UPU, Chief Mukoro Mowoe, who led the association from 1931 to 1948 before his death by setting up the Mukoro Mowoe University. The process of the formation of the university is already in top gear under the supervision of Prof. S. W. E. Ibodje.

The second project is to renovate the Urhobo College, the old school that produced eminent Urhobo people like the Orodje of Okpe, including Tiaga himself, but which is now a ghost of itself.

Thirdly, rather than having Urhobo children carry out only menial jobs, UPU under his watch proposes to create opportunities for Urhobo youths to learn technical trades. Hence the pressure on government to fix the two technical schools in Urhobo land.

His fourth agenda is to set up a micro finance bank to cater for the ever hard working Urhobo women, so that they can borrow money and also pay back as a way to empower them.

Apart from leading his Urhobo kinsmen, Taiga is a renowned member of the Rotary

Club and the District Grand Master of Grand Lodge of Freemasonry, Nigeria. Freemasonry, according to him, is a worldwide organisation - an association that teaches people the spirit of brotherliness, being kind to one another, teaches the truth, teaches faith, and teaches hope and charity.

“It is the oldest and largest fraternal organisation in the world and also a social and educational group well known for promoting the values of honesty,” he said in an interview with a national daily recently.

A thorough bred Urhobo man, who had all his primary and secondary school education in his native homeland, he is known to have deployed the combination of his native knowledge and academic understanding to play effectively in a complex business world.

He eventually graduated from the University of Lagos with a degree in Accounting and started a career as a Finance Administration Officer in the Federal Ministry of Foreign Affairs, Lagos.

He was to start work as an Investment Executive at the Nigerian Industrial Development Bank (NIDB) but from there he proceeded to study leave in the United Kingdom in 1973. There he qualified as a Chartered Accountant.

On his return to Nigeria in 1980, he joined a major American oil exploration and production company, Philip Oil Company, Nigeria where he worked for 24 years. While there, he rose rapidly and by the time he retired in 1997, he had acquired significant level of experiences because he had moved from being the Finance Director, Managing Director to become Vice Chairman and Chief Executive of the company.

NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

20

T H I S D AY Ëž ÍŻÍłËœ Í°ÍŽÍŻÍś

FEATURES

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

Obasanjo's Mission to Curb Capital Flight Former President Olusegun Obasanjo recently took everybody by surprise when he made good his promise earlier in the year to henceforth undertake his annual medical check-ups in Bayelsa Specialist Hospital. Emmanuel Addeh writes that such in-country treatment will help to reduce capital flight

Obasanjo undergoing series of medical tests at Bayelsa Specialist Hospital

H

e is not known to be generous with praises, but recently, former President Olusegun Obasanjo was momentarily lost for words when he described the medical facilities built by the Bayelsa State Government, where he underwent five hours of rigorous medical checks. When on February 16, during a visit to the state, he vowed to return to the state before the end of the year, many people took the pledge with a pinch of salt, regarding it only as a political speech meant to excite his hosts.

But five months later, the former Nigerian leader flew in from his Ota, Ogun State base to take advantage of the medical facilities in the state to know the state of his health.

The fact that, perhaps, for the first time, a Nigerian leader with the clout of Obasanjo wasn’t running outside the country like many of his peers are wont to do, spoke volumes for not only the man, but also how far Bayelsa has come; from a rustic, water-filled landscape, to one which is beginning to gain the attention of the world in terms of medical tourism.

In his usual jocular manner, Obasanjo who was first at the Bayelsa Specialist Hospital in Onopa, accused those who came with him of being overly jealous because all the results so far carried out on him, showed that he was hale and healthy and might even outlive them.

From the smallest of examinations to the very grandiose ones, the ex-president moved from

one department of the hospital to another, throwing banters while undergoing check-ups.

Clean Bill Of Health

However, journalists were not allowed to

I went through the whole process of heart tests. They looked at other internal organs such as kidneys, liver, spleen and all the internal organs.

Eventually, l had a semi-sleep in the MRI where my brains were examined and it may be of interest for you to know that the doctor said my head is correct

PHOTOS: EMMANUEL ADDEH

view the results on request, as the doctors on duty, who cited confidentiality, said it was the sole prerogative of the patient to make his medicals public or private. But at that point, not many were in doubt that anytime he was freed by the doctors, the ex-military general will have no qualms telling the world what transpired behind the closed doors of the consulting rooms.

When he eventually emerged from his sojourn at the Bayelsa Diagnostics Centre, regarded as one of the best in that part of the world, Obasanjo said part of the vitals examined by the doctors included his heart, kidneys, liver, spleen, blood and urine. According to him, a scan was also conducted on his brain which showed that "my head is still correct", adding that examinations on his prostate, teeth, eyes and ears also revealed that he was still very sound.

Generally, he revealed that doctors at the Bayelsa Specialist Hospital and state-owned Diagnostics Centre had given him a clean bill of health after undergoing a five-hour medical check-up at both centres.

A Promise FulďŹ lled

For the former president, it was a promise fulfilled as he returned to Bayelsa. He said: "Last time l was here in February, l did say that l would want to come and patronise the facilities because l was impressed with what l saw then. Having made that promise, l had to

fulfil it. I started last night with the gadgets l had to wear to sleep with to check my blood pressure while l am awake and while l am sleeping. This morning, l started with blood and urine tests.

"I went through the whole process of heart tests. They looked at other internal organs such as kidneys, liver, spleen and all the internal organs. Eventually, l had a semi-sleep in the MRI where my brains were examined and it may be of interest for you to know that the doctor said my head is correct."

Curbing Capital Flight

A visibly elated Obasanjo noted that results of the tests carried out on him, aligned with those previously conducted by his doctors in Atlanta, United States of America, given that the medical facilities used in the state were not markedly different from those he found in America.

The former President, who had a night before, attended a prayer vigil at the Government House Church, with Governor Seriake Dickson, disclosed that all he was charged was N350,000 for all the tests as opposed to the $25,000 (about N9million) he would usually spend on his medicals in the USA. Obasanjo, who later chaired the first Infant and Maternal Mortality Summit in the state which held at the Alamieyeseigha Memorial Banquet Hall, said with the facilities on the ground in Bayelsa, there was no need for

21

T H I S D AY Ëž ÍŻÍłËœ Í°ÍŽÍŻÍś

FEATURES Nigerians to fly abroad for their medical check-ups.

He continued: "Wherever we get best practices, let's spread it. When l was here last February, l saw the standard of the facilities here that could be used by all Nigerians. There is no need for a Nigerian to say he is going to Dubai, UK or America for medical check-ups.

I came here last night, before 1 pm what l started at 8am came to an end. I went through all the medical checks, that l would normally have gone through anywhere. The eye, the mouth, the head and the doctor showed me what my brains looked like.

"When l looked, he said my brain is clean and clear and l said, it means my head is correct. Not only that, the cost is reasonable.

The services were superb. So, what people were going to Dubai, India, America, UK, Saudi Arabia for is here in Bayelsa," he noted.

He thanked Governor Dickson for the warm welcome accorded him and praised all the staff of both medical centres for their commitments, stressing that he remains a beneficiary of Dickson's revolution in the healthcare sector in Bayelsa.

"I went through the machines, the way l used to go through them where l normally have my medicals at Atlanta, Georgia. We have trained Nigerians and the machine here.

I got my results and it is the same thing l had in USA. The difference is that it is cheaper here than there,� he said.

Health Insurance “I am also a beneficiary of the health insurance in Bayelsa and l will pay monthly.

And again, it is good to know that health insurance is very good because when you are in need of attention and you don't have money, you have insurance to take care of you,� Obasanjo stated.

The former president publicly displayed the receipts he was issued for the services rendered, noting that he got the best service at reasonable prices.

He said, "I have done and paid for one year and half. My health insurance is N14,000 and my bill for my medical checks is N350,000.

What l have gone through today is nothing less than $20,000 and $25,000 in America and that is millions of naira.

"I got my results and l am as fit as a fiddle.

The doctor said the only thing l need to do is to drink more water. The same thing you can get anywhere in the world, you can get it here. Why do you have to travel?�

Obasanjo discussing with one of the consultants

Reducing Maternal, Infant Deaths

Later in the day, the former president, who is also the Balogun of Owu, chaired a summit in the state, meant to reduce maternal and infant deaths in the state. Obasanjo, who said he remains a partner and an advocate of Governor Dickson's efforts in raising the standard of healthcare delivery in the state, expressed hope that successive administrations would maintain the standard.

"It will be a shame, if Governor Dickson leaves office and you Bayelsans allow the standard to fall. So those of you who will take the mantle of responsibility, you must not fall below the set standard," he said.

Also at the summit, Dickson announced that henceforth, pregnant women will be paid a total of N27,000 during their period of pregnancy from the point of registration, which is N3,000 spread across nine months.

That was just after applauding Obasanjo for blazing the trail by doing his medicals in the

I am also a beneďŹ ciary of the health insurance in Bayelsa...I paid for one year and half.

My health insurance is N14,000 and my bill for my medical checks is N350,000.

What l have gone through today is nothing less than $20,000 and $25,000 in America and that is millions of naira

Presentation of a cheque by the state governor for construction of more hospital centres

state.

According to him, Obasanjo flew into the country from New York and Atlanta and didn't do his health check there, but came to Bayelsa to examine his health in the state-of-the-art facilities built by the state.

"While I thank baba for enrolling in our Health Insurance Scheme and showcasing our health facilities that are second to none, the lesson here is that, it is important for all of us to do our routine health checks", Dickson noted.

The governor also presented a cheque of N1.2 billion to the state Ministry of Health and the Primary Healthcare Development Board, out of the N3 billion earmarked for the construction of health care facilities in each of the 105 political wards in the state, as part the government's strategy to reduce infant and maternal mortality rate.

He also announced the release of N100 million to the Ministry of Health for the payment of the special allowances, in addition to the provision of free medical care to all pregnant women in the state.

Dickson, who directed the Ministry of Health and its medical team to ensure the completion of the building of health centres across the 105 wards by December, called on community leaders, women, opinion leaders and other stakeholders to be part of the process of ensuring that no death of pregnant woman

is recorded in Bayelsa.

According to the governor, "Every pregnant woman living in Bayelsa is entitled to N3, 000, until delivery and it will be accessed upon registration for antenatal programme at the nearest medical facility for safe delivery.

This is to ensure that, the health team gives me information on the number of pregnant women in the state. I want a report on their delivery; that's how serious we take this issue of infant and maternal mortality.

"In the event of anything going wrong, I will give directive for a special coronary inquest, check the integrity and conduct of medical personnel involved or the traditional birth attendant responsible, so that I will know the consequences that will follow."

Dickson, who also announced that the Bayelsa Health Insurance Scheme had saved N1.5 billion, urged the people to avail themselves of the health care services provided by the state government, just as Obasanjo had done.

Wife of the governor, Dr. Rachael Dickson, who reiterated the need for pregnant women to be able to give birth safely, avowed that with the huge investment by the government in the health sector, the infant and maternal death rate in the state would be drastically reduced.

She expressed appreciation to Governor Dickson for building health centres in every ward, as well as prioritising women's affair

with the appointment of about 400 women into various positions of trust in his administration, and called on them to take advantage of the free health care centres.

The Summit

In a welcome address, the Commissioner for Health, Professor Ebitimitula Etebu said, the summit was apt, as it provided an opportunity for the government and all stakeholders to x-ray the core essence of healthcare providers, irrespective of designation or discipline.

He lamented the unwholesome practices by most Traditional Birth Attendants (TBA), citing the World Health Organisation, statistics, which indicate that over 100 women die every day in the country, for causes related to childbirth and maternal mortality.

In his keynote address titled: "Management of Bleeding During Pregnancy, Labour", Dr. Andrew Igbafe, listed major causes of complications in pregnancy to include, excessive bleeding during pregnancy and after childbirth, prolonged labour, unsafe abortion, harmful religious and traditional practices.

Igbafe, however, called for zero tolerance for maternal and infant death in the state, girl-child education, enlightenment campaigns to every nook and cranny of the state, support from traditional rulers, elders, chiefs, medical practitioners and TBA's among others to stem the tide of infant and maternal mortality.

22

IMAGES

T H I S D AY Ëž ÍŻÍłËœ Í°ÍŽÍŻÍś

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

L:R: U. S Commercial Counselor, Brent Omdahl; Partner, PricewaterhouseCoopers, Darrell McGraw; President, American Business Council, Dr. Lazarus Angbazo; and CEO/Executive Secretary, American Business Council, Margaret Olele, during the launch of the economic survey report by the American Business Council in Lagos... recently

R-L: Chief Operating OďŹƒcer (COO), Med View Airlines, Mr. Michael Ajigbotoso receiving the Best Airlines in Hajj Operation plaque from the representative of AIG of Police, Assistant Commissioner of Police, Mr. C. Okezie, during the awards by Aviation Stakeholders at Murtala Muhammed Airport, Ikeja, Lagos...recently.

PHOTO: KOLAWOLE ALLI

L-R: MD/CEO, FirstCentral Credit Bureau Limited, Mrs. Mobolanle Adesanya;, MD/CEO, CR Services Credit Bureau Plc, Mrs. Jameelah Sharrie-Ayedun; Hon. Minister of State For Industry, Trade and Investment, Hajia Aisha Abubakar and Chairman, Credit Bureau Association of Nigeria (CBAN), Mr. ‘Tunde Popoola at the 5th National Credit Reporting Conference in Lagos...recently

L-R: Acting President, Federal Republic of Nigeria, Prof. Yemi Osinbajo; Managing Director, Mojec International Limited, Ms. Chantelle Abdul and the Company’s Chairman, Chief(Mrs.) Mojisola Abdul during the oďŹƒcial visit of the acting President to Mojec International Limited in Lagos..recently PHOTO: SUNDAY ADIGUN

L-R: Front Row: Esinkin of Oro, Chief Awoleye Joseph; National President, Oro Descendant Union (ODU), Alhaji Uthman Balogun; Kwara State Governor, Dr Abdulfatah Ahmed; Esha of Oro, Chief Samuel Taiye; Chief Imam of Oro, Alhaji Sanusi Taofeek and Chairman, ODU Oro Branch, Prince Olajide Titiloye during courtesy visit to the Governor at Government House, Ilorin.....recently

L-R: Treasurer, Rotary Club of Lagos Island, District 9110 Nigeria, Kishore Bendre; Secretary, Mamta Debroy; President, Indian Women Association of Nigeria, Geetika Tandon,and her husband, Sanjeev Tandon at the club’s distinguished excellence awards in Lagos...recently

National Sales Manager, 3-wheeler, Simba Group, Deji Olaniyan; Chairman\Managing Director, Simba Group, Vinay Grover and Business Head, Manish Rohtagi, during TVS Confam Naija Dance press brieďŹ ng in Lagos... recently.

PHOTO: KOLAWOLE ALLI

T H I S D AY • WEDNESDAY, 15 AUGUST 2018

23

BUSINESSWORLD R A T E S MONEY MARKET OBB OVERNIGHT

A S

A T

A U G U S T

REPO 8.42 9.25

CALL 1-MONTH 3-MONTH

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

1 0 ,

S & P INDEX 7.17 10.24 11

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

2 0 1 8 EXCHANGE RATE

355.72% -0.03% 0.18% 0.43% 7.96%

N306/1US DOLLAR AS AT LAST FRIDAY

Quick Takes Finalists in Fintech Challenge Emerge

BUSINESS EXPANSION

Company Secretary, Miniso Nigeria, Abamba G.M; Managing Director, Mrs. Key Yang; Franchise and Investment Manager, Jason Zhou and Franchise Specialist, Eze Igwe, during a media briefing on the retailer’s plan to expand in Nigeria, that took place in Lagos…recently

Investors Take Refuge in Commercial Papers as Stock Market Bleeds Obinna Chima Investors are fleeing the battered Nigerian stock market and are seeking safety in the Commercial Papers (CPs) market, findings by THISDAY has shown.

The past few weeks has seen increased CP issuance by corporates which were all successful as investors scrambled to partake in it.

For instance, Access Bank Plc on Friday opened the Series 14 of its N100 billion CP Programme, which closed yesterday. The bank sought to raise up to N42 billion in the seventh tranche of its 91-day series to finance asset creation and working capital.

In addition, Dangote Cement Plc is also in the market as it is looking to issue Series 3 &

ECONOMY 4 CP under the company’s N150 billion CP Programme to finance short-term working capital requirements and for general corporate purposes.

Prior to the issuance by Access Bank and Dangote Cement, other corporates such as Sterling Bank Plc, Dufil Prima Foods Plc, UPDC Plc and Nigerian Breweries Plc, successfully raised funds from the CP market recently.

CPs, which are unsecured promissory notes with a fixed maturity of about nine months are issued by companies to raise money to meet short-term finance obligations.

The notes are backed by the promise of the issuers to repay based on certain agreed terms.

They present a cost-effective

and stable means of sourcing scarce capital as against to bank loans and provide investors avenue to diversify their portfolios and given their short-term nature, they permit high relative return on investment, and allow investors to remain relatively liquid.

The bearish sentiments in the Nigerian stock market continued last week, pushing the market indicators to a 10-month low.

In fact, the year-to-date decline of the Nigerian Stock Exchange (NSE) All-Share Index worsened to 7.4 per cent on Monday as the stock market maintained a downward trend.

Prevailing weak investor appetite had continued to depress share prices for the past weeks. While the market went down by 2.89 per cent to hit a 10-momth low last week

it has opened this Monday on another bearish note, shedding 0.13 per cent.

Specifically, on Monday, the NSE ASI closed lower at 35,399.28, while market capitalisation shed N17 billion to end at N12.9 trillion. The bears were in total control as 26 stocks lost value compared with only 14 that added value.

Speaking in a chat with THISDAY, the Managing Director of Afrinvest Securities Limited, Mr. Ayodeji Ebo, said investors are always seeking for where to maximise returns on their investments.

Aside the switch from investing in stocks, Ebo pointed out that, “a lot of money that used to stay idle on savings and current accounts in banks Continued on page 24

Trading on FMDQ OTC Market Declines 24% to N13tr in One Month Goddy Egene Turnover on the Fixed Income and Currency (FIC) on the over-the-counter (OTC) market operated by FMDQ OTC Securities Exchange in July stood at N13.09 trillion, showing a decline of 23.99 per cent, compared with the N17.23 trillion recorded the previous month.

An analysis of the data released by FMDQ on Monday, showed that turnover largely

ECONOMY declined across all segments of the FIC market, excluding the Repurchase Agreement/BuyBacks market which recorded a 5.22 per cent increase in July The Treasury bills (T.bills) and Foreign Exchange (FX) segments remained the major drivers of turnover in the FIC market, jointly accounting for 74.26 per cent of total turnover in July, albeit a 5.09 percentage points decline from their

levels of contribution in June FX Market Total FX market turnover in July was $12.61 billion, a 36.31 per cent ($7.19 billion) decline from the amount recorded in June ($19.80 billion).

Turnover at the Investors & Exporters (I&E) FX Window in July was $3.39 billion, representing a 13.74 per cent ($0.54 billion) decline from the value recorded in June ($3.93 billion).

A further analysis of FX

turnover by trade type showed a similar trend to the total FX Market turnover in July, with member-CBN trades recording the highest percentage decline of 38.11 per cent ($2.14 billion), while member-clients trades recorded the highest decline in value of $4.06 billion from $11.21 billion in June to $7.16 billion in July Analysis of contribution to total FX turnover by trade type indicated member-client Continued on page 24

Ecobank has announced the finalists for the 2nd edition of the annual Ecobank Fintech Challenge, a competition for Africafocused technology start-ups.

The list included 11fintech start-ups from across the continent and beyond.

An Innovation Fair & Awards ceremony would honour the startups on August 30, 2018, at the global headquarters of Ecobank in Lomé, Togo.

At the ceremony, the start-ups would exhibit and pitch their products to a jury for the Ecobank Africa Fintech Prize, which would be awarded the top innovator and two runners-up.

The top three innovators would win cash prizes worth US$10,000, US$7,000, and US$5,000 respectively.

After the awards ceremony, Ecobank would enrol all eleven finalists into the Ecobank Fintech Fellowship.

The Fellowship would run for a period of six months during which Ecobank Fintech Fellows will benefit from an opportunity to further explore partnerships with the Ecobank Group that includes: Multinational product roll-out support: for the start-ups deemed commercially viable to grow their businesses across any of Ecobank’s 33 markets in Africa; service provider & ecosystem partner deals: for start-ups with deep capabilities to become product partners within Ecobank’s ecosystem; and technical & mentoring support: during the six months fellowship period, fellows will benefit from technical support from Ecobank’s global network of technology leaders, fintech experts, investors and management coaches.

ICT Firm Secures $100m Investment

Freshworks, one of the global leaders in customer engagement software has announced that it recently secured $100 million in financing and has hired former AppDynamics Vice President of Finance & Treasury Suresh Seshadri as its chief financial officer.

The latest round of funding was co-led by Accel and Sequoia, with participation from CapitalG, bringing Freshworks’ total amount of capital raised to $250 million. The cash infusion would be used to further expand Freshworks’ worldwide expansion as well as continued investment in its integrated SaaS platform, a statement revealed.

Freshworks provides organisations of all sizes with SaaS solutions that make it easy for customer support, sales and marketing professionals to communicate effectively with customers for better service and collaborate with team members to resolve customer issues.

To date, over 150,000 organisations worldwide use Freshworks, including NHS, Honda, Rightmove, Hugo Boss, Citizens Advice, Toshiba and Cisco.

The company is headquartered in San Bruno, Calif., and has offices in India, the United Kingdom, Germany and Australia.

“When we started Freshworks in 2010, we were a single-product company with a goal of offering better, easier-to-use customer service software than what was in the market.

Ghana Replaces Sacked Energy Chief

Ghana’s President Nana Akufo-Addo replaced his sacked energy minister, in a reshuffle that still maintained the West African country’s high number of ministers — 110 in total.

Akufo-Addo had sacked Energy Minister Boakye Agyarko in the reshuffle and replaced him with John Peter Amewu, former minister of lands and natural resources.

Reuters cited press reports to have revealed that Agyarko was removed because the president was unhappy with his handling of an extension to a five-year deal with United Arab Emirates-based AMERI Energy for a 300MW emergency power plant.

Kwaku Asomah-Cheremeh, former regional minister for the Brong Ahafo region, was named minister for lands and natural resources, while Kofi Adda, a former minister of sanitation and water resources, was appointed the minister of aviation.

Among the challenges at this sector of the value chain, and there are problems in gas, generation and transmission, the most urgent are distribution of available energy to consumers, and there is an unused energy in the region of 2,000 megawatts in this category Minister of Power, Works and Housing, Mr. Babatunde Fashola

24

T H I S D AY • WEDNESDAY, 15 AUGUST 2018

BUSINESSWORLD INVESTORS TAKE REFUGE IN COMMERCIAL PAPERS AS STOCK MARKET BLEEDS are no longer being kept in the banks.

“Awareness has increased on fixed income securities and those that had enjoyed the high interest rate we saw last year are now so used to it that they want to invest in anything they are sure of the returns.

“So, even beyond taking money from the stock market, bank customers are no longer leaving their money idle in savings and current accounts.

People are trying to maximise returns on their investments.”

He attributed the massive sell-offs on the NSE to political uncertainties and unimpressive results released by some quoted companies. To an investment banker and Co-founder of Cardinal Stone Partners Limited, Mr. Mohammed Garuba, CP issuance have increased largely because of high lending rate in the market.

“CP in any market is a rate higher than deposits rates, but lower than bank interest rates.

So, the CP market is getting very viable now because depositors instead of going to banks to deposit their monies are going to the companies to invest in CPs. TRADING ON FMDQ OTC MARKET DECLINES 24% TO N13TR IN ONE MONTH and member-CBN trades remained the major drivers of turnover. However, the contribution of member-CBN trades declined marginally to 27.52 per cent, while the contribution of Inter-member and member-client trades to total FX turnover increased marginally to 15.78 per cent and 56.78 per cent respectively.

In the revenue month, the total turnover in the fixed income (FI) market was N6.16 trillion, representing a 21.54 per cent decline from the turnover reported in June.

Turnover in the T.bills market recorded a decline of 21.06 per cent while turnover in the FGN Bonds market declined by 24.28 per cent.

Total T-bills outstanding as at July 31, 2018, stood at N13.47 trillion, representing a 2.13 per cent decline, driven by the continued redemption of T.bills in the month of July.

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)

NEWS

Experts Urge CBN to Support Drive for Rural Access to Power Chineme Okafor in Abuja The Central Bank of Nigeria (CBN) can help rural communities yet to be connected to the national grid, gain access to clean renewable electricity quickly and cheaply if payment of the service is allowed through licenced Mobile Network Operators (MNO) experts from the Nigerian office of the global Power for All has disclosed.

The experts – Ifeoma Malo, who is the country director of Power for All, and Chibuikem Agbaegbu, the Nigerian lead for market access, suggested in a policy note made available to THISDAY. According to them, the CBN has a lot of roles to play in ensuring electricity reach circa 80 million Nigerians yet to gain access to any form of electricity.

Titled, ‘the need for mobile money in Nigeria’s off-grid energy sector,’ the policy brief explained that if the CBN permits MNOs provide electricity payment services as value-added services under their mobile money license, it could become a win-win for it, in that, it helps push its desire for comprehensive financial inclusion as well as get electricity for productive gains to rural communities.

“In 2012, the CBN launched a cashless policy to curb excesses in the handling of cash as well as insisting that mobile money operations be bank-led due to the perceived threat to retail banking in Nigeria if extended to MNOs. However, banks have limited mobile money to just mobile banking as an add-on service to already existing customers with lesser focus on financial inclusion for the unbanked population particularly in rural areas. This limits the provision of payment-related services to these areas.

“The CBN should permit MNO-driven mobile money solutions by granting mobile

money licenses to MNOs and regulated by the CBN through a strong mobile money regulatory framework. Under the MNO-driven model, the MNO provides electricity payment services as a value-added service under its mobile money license enabling subscribers to make payments for electricity in the form of electronic money which are settled through the MNO’s established agent network,” said the experts in the policy brief.

They further explained that: “A clear distinction from the bank-led model is that the subscribers do not need to have a bank account. The electricity ‘payment-in-transfer’

in principle could be a deposit held in an account with a bank, as such the MNO serves to execute and facilitate electricity payments without performing the basic roles of a bank.

“Payments are maintained in a trust account in a bank and cannot be used by the MNO as funds for its business. This ensures the MNO acts purely as a payment facilitator and not carrying out the roles of a bank.

This will be effective for organising such informal electricity payments into a formal financial system required by off-grid companies and expanding energy access to communities.

“The CBN can also explore a hybrid model - combination of the bank and MNO model – in the context of perceived competition between banks and MNOs. “Through this model, banks and MNOs work together in extending mobile money transfer and mobile banking services to off-grid customers.

“The MNO’s mobile money service handles the electricity payments with cash in or out through its agent network, which is linked to formal banking services such as savings, credit extension, insurance and bank account extension to the MNO’s subscribers,” they added.

According to them, this will provide a win-win for all parties, noting that, “the off-grid company easily gets payments for its electricity service; it serves the MNO’s objectives in facilitating digital payments, churn reduction, customer acquisition and increased average revenue per user.

“It also serves the bank in terms of outreach, customer acquisition, and cost reduction.

Various banks are already providing mobile operator USSD codes as services to their customers for money transfer, bills payments, and even for opening bank accounts,” the experts stated.

MEDIA PARLEY

L-R: Human Resources Project Coordinator, Association of Nigerian Electricity Distributors,(ANED) Mr. Rotimi Adebari, Chief Executive Officer, BEDC, Funke Osibodu and Executive Director, Commercial, Dr. Abu Ejoor, at a media parley held in Benin…recently

NNPC Seeks to Dominate Africa’s Saraki Donates 500 KVA Transformer to Ilorin Community Oil Market Chineme Okafor in Abuja The Nigerian National Petroleum Corporation (NNPC) is aiming to become the leading national oil company (NOC) in Africa in the next three years.

The Chief Strategist at the NNPC, Mr. Bala Wunti disclosed this.

Wunti, who is the Group General Manager, Corporate Planning and Strategy of the NNPC, said the corporation had developed a three-phased corporate strategy with which it plans to leverage oil and gas market opportunities in the continent.

These strategies, he added would come into full fledge by 2021.

He explained in the latest edition of the quarterly inhouse publication of the NNPC – the NNPC Magazine – that by then, the NNPC expects it would have expanded its business footprints beyond the shores of Nigeria first as a net exporter of refined petroleum products, and then

a hub for other hydrocarbon businesses.

According to him, the corporation would have within this plan, ramped up its domestic refining capacity to about 650, 000 barrels per day (bd) up by about 205,000bd.

Wunti, explained the corporation adopted a survival phase which would last until 2018; a consolidation phase – expected to kick in 2019; and then a long-term phase – taking off and becoming full-fledged by 2021, as the three-phased corporate strategy it was pursuing.

“While our strategy department is in charge of strategy development and business model formulation, our Corporate Planning Department (CPD) is in charge of our planning and budgeting process.

Key performance indicators are established to monitor performance and ensure our business plans achieve the desired strategic objectives,” he said.

Hammed Shittu in Ilorin Reprieve came the way of long suffering people of Adanna community and its environ in Ajikobi ward of Ilorin West local government area of Kwara state over the weekend as the Senate President, Dr. Bukola Saraki donated a 500 by 11KVA transformer to the community.

Residents of the benefitting community and its environ had been plunged into total darkness over eleven months ago, when the transformer supplying electricity to the densely populated area got damaged.

Saraki had about a month ago during a sympathy visit to victims of a devastating flood disaster in Abata- AsunkereOde- Adanna area of Ilorin metropolis, upon request by the community pledged to donate a new transformer to the community to improve the socio- economics life of residents of the area.

He, equally bankrolled the

installation of the transformer which has more carrying capacity than the damaged one.

It was a promise fulfilled when the Director General of the ABS Mandate Constituency Office, Ilorin, Alhaji Musa Abdullahi handed over the transformer to the representatives of the community at a brief ceremony at the constituency office complex in Ilorin.

Abdullahi said the presentation of the transformer was in fulfilment of the pledge of the Senate President when he visited Abata- Asunkere to commiserate with flood victims recently.

“It will be recalled that during the sympathy visit to the flood victims in AbataAsunkere and Ode- Adanna community by the Senate President, residents of the community sought the assistance of the Senate President on the provision of a new transformer for their community.

“In response to their request,

the Senate President mandated his constituency office to procure and install 500 by 11KVA transformer as a matter of urgency. It is on this note that I have the singular honour and privilege to present the transformer to Ode Adanna community. Our leader has also directed us to foot the bill for the installation of the transformer. “ Responding, the Imam of Ode Adanna, Alhaji Mashood Yakub, said their joy knew no bound over the donation of the transformer to their community, pointing out that “we have been in total darkness for more than eleven months.”

“We thank the Senate President for fulfilling his promise not to only give us a transformer but to also install it.”

The Secretary of Ode Adanna community development association, Musa Alawuyan, also hailed Saraki “for fulfilling his pledge to the community in less than a month.”

25

T H I S D AY • WEDNESDAY, 15 AUGUST 2018

BUSINESSWORLD

NEWS

Jaiz Bank to Disburse $20m ICD Facility Ndubuisi Francis in Abuja Jaiz Bank Plc is on the verge of disbursing the $20 million its recently-secured Islamic Corporation for the Development (ICD) for the private sector facility to operators in SMEs. The bank’s Managing Director, Hassan Usman, who made the disclosure at an interactive session with journalists in Abuja, said the fund would be disbursed before the end of the year.

He said, “On the SME financing line from the ICD, when you signed publicly that is when you start to do the work and tidy up to make sure the agreement and all the conditions precedent are met.

“We have finished all of that and we have lined up a number of customers desirous of benefiting from this facility and very soon we will start to disburse to these customers.

“We believe that before the end of this year, we would have done if not all of the disbursement of the $20 million but substantial part would have gone before the end of this year.”

Usman disclosed that the bank was already in the first year of its five-year strategic plan to enable it provide better services to its customers.

According to him, the interest-free bank is on a network expansion drive, with a target to set up 40 branches before the end of the year.

Usman added that Jaiz was expanding its branch network in the southern part of the country, with particular emphasis in Lagos, for now.

“We are having a balance sheet size that is growing by 20 per cent year-on-year and our branch network has increased from 27 to 32 and we hope to increase this to 40 branches before the end

of the year,” he said.

On funding for agriculture, he said that the Central Bank of Nigeria had reviewed it’s framework of the commercial agricultural credit scheme to accommodate the funding structure of the bank.

He said, “The central bank and the federal government has been trying to ensure that financing get to the farmers.

To address the challenges, they came up with the Anchor Borrower Scheme and similar scheme.

“We are also now going to be participating in the commercial agric scheme of the central bank because they have now fine-tuned the scheme to accommodate our type of financing structure.

“Hitherto, we were not able to access it because it was on interest based but it has been modified and we have a number of customers that will benefit from that,” Usman stated.

SterlingBankExpandstoIgbogboCommunity Nume Ekgehe Sterling Bank Plc recently inaugurated a new branch which was the first commercial bank situated in Igbogbo LCDA of Ikorodu Local Government in Lagos.

Speaking at the inauguration ceremony, the Chairman of Igbogbo-Bayeiku Local Council Development Area (LCDA) in Igbogbo, Olusesan Daini commended the bank for building a branch in the area.

He assured that the bank would have more reasons to invest in the community in the near future given the rapid development taking place in the region.

“Igbogbo is the fastest growing community in Ikorodu so there’s no doubt

about the level of patronage Sterling Bank will enjoy.

“As you have paved the way for commercial banking in the community, we are certain your competitors will follow suit to open their own branches. My advice is to ensure your ATMs are promptly serviced at all times to lay a good foundation for your business dealings with members of the community,” Daini said.

Also speaking, Oba Semiudeen Orimadegun Kasali, the Adegboruwa of Igbogbo Kingdom applauded Sterling Bank for building and operating a branch in his community.

The royal father called on the people of the community to patronise Sterling Bank,

while assuring the bank that the people would do the best they could in terms of support.

“We look forward to working with you. We pray that your coming will usher in other commercial activities in Igbogbo. We want to implore you to also look at ways to support the community through your corporate social responsibility,” the Oba said.

Commenting on the new branch, the Executive Director, Retail & Consumer Banking, Sterling Bank Mr. Grama Narasimhan said, “Our decision to site a new branch in Igbogbo/Baiyeku Local Council Development Area is in line with the bank’s determination to bring world class banking services closer to the doorsteps of Nigerians.

Power: BEDC Laments Disruption, Instability from National Grid Seriki Adinoyi in Jos The Transmission Company of Nigeria (TCN) national grid has been highly unstable with over 2,000 outages and interruptions recorded in BEDC Electricity Plc’s (BEDC) network coverage area of Delta, Edo, Ekiti and Ondo, causing affected customers dissatisfactions.

The Managing Director/CEO of BEDC, Mrs Funke Osibodu disclosed this during a media parley organised in Benin, Edo State, according to a statement from the power distribution firm. However, she said notwithstanding the supply interruptions, the company was able to record several improvement initiatives, which impacted positively on power availability to customers in all the four states within its franchise area.

She noted that recent information from National Bureau Office of statistics stated that BEDC had the highest number of meters amongst all the 11 electricity distribution companies.

Commenting on how the

firm had been of service to its esteemed customers, the BEDC boss said, “In Delta State, we restored electricity supply to over 54 Communities including Ibusa, Ogwashi-Uku, UbuluUku, Isselu-Uku (on-going), Ogunu, Otor-Udu, Emadaja, Iwhrekekan, Mosogar, Onyobru Water Side Community.

“In addition, in order to enhance security, various streetlight projects were commissioned that are providing 24 hours supply covering over 20 km in Asaba across major urban roads such as Mariam Babangida way, Ibusa to Koka Junction, Illa road to DELSU Anwai Campus, Government Core Area, Interbua, Ezenei Road, Nnebisi-Dennis Osadebe Road to Abraka, Okpanam Road and locations in Effurun area - Jakpa Road, Airport Road, NPA Expressway, DSC Round, Sokoh Estate road, Refinery Road, PTI road.

“In Edo State, power supply has also improved from two hours in 2013, to 6-10 hours for locations with severe infrastructure

limitations such as Okada, Oluku, part of Sokponba, Evbuotubu, Oliha and Siluko, all in Benin, there has been improvement from 6hours to 12-15hours for locations with more improved infrastructure including Auchi, Edo North, GRA, Ugbowo, Okhoro and New Benin.”

Besides, she added that while, “there is 18 - 24hours power for commercial customers on dedicated lines involving 23 hotels, several banks, eateries, shopping mall and government establishments including central hospital, Edo State House of Assembly Complex, High Courts, Government House.”

Additionally, the BEDC CEO stated that 14 street light projects within Benin now enjoy 24 hours power availability with some of the locations being Kings Square, Museum Street (Ring Road), Airport Road, Sapele Road, Oba Market Road (Ebo), Sokponba Road by Omoruyi Junction, Ekpenede Street by Bob Izua, Ihenya Street (off New Lagos Road), Evbomwan Street (by Best Western).

ELEVATING TO THE NEXT LEVEL Marie-Therese Phido

Letting Fraud and Imposter Syndrome Destroy Your Career

I

was telling a friend of mine the other day, how I suffered from imposter syndrome at a point in my career. Have you ever had to ask yourself, what am I doing here? Do I have the capacity to do this job? Will I be well regarded? Am I in over my head?

There have been times in my career, when I had to ask myself these questions. Where I felt very inadequate and did not think I was deserving of the positions I had attained nor the accolades that came with these positions. Many women suffer from imposter syndrome.

Let’s unpack what imposter syndrome means. It can be defined, “as a collection of feelings of inadequacy that persist despite evident success. ‘Imposters’ suffer from chronic self-doubt and a sense of intellectual fraudulence that override any feelings of success or external proof of their competence.

Research has shown that both men and women experience impostor feelings, and Pauline R. Clance published a paper acknowledging that impostor syndrome is not limited to women. Today, impostor syndrome can apply to anyone “who isn’t able to internalize and own their successes,” says psychologist Audrey Ervin.”

A recent study by the Harvard Business School (HBS), says CEOs who are meant to be known for their confidence, especially because they have made it to the top of their careers suffer from a lack of confidence (imposter syndrome) in their ability to perform their roles as CEOs. The Leadership advisory firm Egon Zehnder conducted a survey of 402 CEOs from 11 countries who together run companies with $2.6 trillion in sales.

CEOs who participated anonymously, told those who conducted the survey that they did not feel ready for the strategic and business aspects of their roles, they felt much less prepared for the personal and interpersonal components of leadership, which are just as critical to success.

Here are some of the most surprising findings, HBS said: • 68% acknowledged that, they felt they weren’t fully prepared to take on the CEO role.

• 50% said driving culture change was more difficult than they’d anticipated.

• 48% said that finding time for themselves and for self-reflection was harder than expected.

• 47% said that developing their senior leadership team was surprisingly challenging.

It was reported that one of them remarked that: “When you become the final decision maker, everything changes. It’s hard to train on this.”

What is also evident is that they suffered from a lot of self-doubt. Despite the fact that they had several years of experience and had reached the zenith of their careers based on competence and management and their Board thinking they were deserving of the role. Many of them still lacked confidence and doubted their ability to get the job done.

If CEO’s feel this way, you then wonder how others down the ladder will feel.

Impostor syndrome expert Valerie Young, who is the author of a book on the subject, The Secret Thoughts of Successful Women, has also found patterns in people who experience impostor feelings, she said these are: • “Perfectionists” set extremely high

expectations for themselves, and even if they meet 99% of their goals, they’re going to feel like failures. Any small mistake will make them question their own competence.

• “Experts” feel the need to know every piece of information before they start a project and constantly look for new certifications or trainings to improve their skills. They won’t apply for a job if they don’t meet all the criteria in the posting, and they might be hesitant to ask a question in class or speak up in a meeting at work because they’re afraid of looking stupid if they don’t already know the answer.

• When the “natural genius” has to struggle or work hard to accomplish something, he or she thinks this means they aren’t good enough.

They are used to skills coming easily, and when they have to put in effort, their brain tells them that’s proof they’re an impostor.

• “Soloists” feel they have to accomplish tasks on their own, and if they need to ask for help, they think that means they are a failure or a fraud.

• “Supermen” or “superwomen” push themselves to work harder than those around them to prove that they’re not impostors.

They feel the need to succeed in all aspects of life—at work, as parents, as partners— and may feel stressed when they are not accomplishing something.

This last one, described me to a T. I beat myself up mercilessly, if I made a mistake. I beat myself much more than by bosses did, because I felt I had to be perfect in everything I did and any small mistake was magnified as a big failure on my part.

So, how can we overcome imposter syndrome. Ervin says, “one of the first steps to overcoming impostor feelings is to acknowledge the thoughts and put them in perspective. “Simply observing that thought as opposed to engaging it” can be helpful, says Ervin. “We can help teach people to let go and more critically question those thoughts.

She encourages her clients to ask ‘Does that thought help or hinder me?’”

You can also reframe your thoughts. Young says she reminds people that the only difference between someone who experiences impostor syndrome and someone who does not is how they respond to challenges. “People who don’t feel like impostors are no more intelligent or competent or capable than the rest of us,” Young says.

“It’s very good news, because it means we just have to learn to think like non-impostors.”

Learning to value constructive criticism, believing you are deserving of the role, understanding that you’re actually slowing your team down when you don’t ask for help, or remembering that the more you practice a skill, the better you will get at it can all help and from me, understanding that you can make mistakes because you are only human.

Let me conclude with the words of Caroline Dowd-Higgins, who says: “Self-confidence is attainable. Expand your comfort zone incrementally toward a stretch goal. Baby steps will allow you to truly own what you do well and learn to turn off the negative mental selftalk that often surfaces and gives you a feeling of imposter syndrome.”

She says you can reprogram your brain to also believe that you do these things really well and deserve it. Take time to enjoy your strengths and don’t set unrealistic goals of perfection. Celebrate what you’ve already done well and can do well.”

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

26

T H I S D AY • WEDNESDAY, 15 AUGUST 2018

BUSINESSWORLD

EQUITIES WATCH

Notore: A Future Stock The listing of Notore Chemical Industries Plc on the Nigerian Stock Exchange offers investors an opportunity to buy into a company with huge potential to deliver significant returns, writes Goddy Egene

I

nvestors in the equities market always search for stocks that have good prospects and the potential to deliver significant returns on their investments. One of the ways to identify such stocks is the industry they operate and the capacity and ability of the company to deliver on all the financial parameters that will eventually lead to positive returns.

One of such opportunities for value investors came recently with the listing of Notore Chemical Industries Plc on the Nigerian Stock Exchange (NSE).

The company, a vertically integrated agroallied, chemical and power group, based in Onne, Rivers State, has six subsidiaries including Notore Supply & Trading Mauritius Limited, Notore Power Limited, Notore Seeds Limited, Notore Foods Limited and Notore Industrial City Limited.

The company is a leading producer of fertiliser products traded locally and exported to West Africa, Southern Africa and Europe. Given the efforts of the federal government to diversify the economy with much focus on agriculture, companies operating in the agro-allied space have huge headroom for growth.

Hence, Notore with a good management and business strategy is one any investor looking for significant future returns must not ignore.

It is for this reason many investors see Notore as a future stock.

Speaking recently at the listing of the company’s stock on the NSE, Group Managing Director/CEO of Notore, Mr. Onajite Okoloko said formerly known as O-Secul Fertilizer Company Limited, the company was established in 2005 to acquire the core assets of the National Fertilizer Company of Nigeria (NAFCON).

“Our core business is the production and sale of fertilizer products, which is traded locally in Nigeria and exported to West Africa, Southern Africa and Europe. Our key strength lies in our huge potential to diversify our revenues due to our favourable location within a prolific gas hub and access to a jetty, which guarantees easy export of any products manufactured in the facility,” he said.

According to him, Notore is the only urea producer in sub-Saharan Africa with control over gas supply and has a vast distribution network in the local Nigerian market.

“Notore sells 75 per cent of its urea fertiliser locally and exports 25 per cent to leading international traders such as Helm Ag, Ameropa and Yara. Notore is a licenced independent power producer, which generates electricity for use in the fertilier plant and residential estate, with excess capacity available for sale to nearby off-takers. The power plant has a total capacity of 50 megawatts (MW) with own use requirements of between 8-13MW,” he said.

He explained that the company was listed on the exchange to support the Nigerian government’s effort to deepen the capital markets, improve liquidity and tradability of the company’s shares, and increase its visibility and credibility in the Nigerian market and beyond. “The listing will also increase access to capital in order to fund the company’s future growth initiatives and grant Nigerians the opportunity to participate in Notore’s growth history,” he said.

Last week, Notore released its unaudited results for the nine months ended June 30, 2018. It recorded revenue of N20.584 billion, down by 20.3 per cent compared with N25.834 billion recorded in the corresponding period of 2017. However, gross profit rose 14.2 per cent from N7.114 billion to N8.161 billion. This was driven by an exceptional item valued at N3.91 billion, which reduced the cost of sales.

The exceptional item was in respect of the Export Expansion Grant confirmed receivable from the Federal Government of Nigeria on the cumulative export sales made by Notore between 2011 and 2016.

Notore’s cost of sales is well within its control.

Okoloko

Natural gas accounts for approximately 80 per cent of the cost of sales of urea fertilizer and Notore benefits from a 20-year fixed Gas Supply and Purchase Agreement priced at US$1.50/ mmbtu, which was signed in March 2016.

The company was listed on the exchange to support the Nigerian government’s effort to deepen the capital markets, improve liquidity and tradability of the company’s shares, and increase its visibility and credibility in the Nigerian market and beyond

The company also reported earnings before interest taxation, depreciation and amortisation (EBITDA) margin of 47.54 per cent, up from 39.04 per cent in 2017.

According to the company, its EBITDA of N9.79 billion for the period under review, was 2.96 per cent lower, which was driven by a 34.02 per cent increase in operating expenses as a result of an increase in administrative expenses – partly due to increase in employee benefits during the period, as well as selling and distribution expenses to promote local sales during the off-planting season.

Net financing cost declined marginally by 1.21 per cent to N7.69 billion from N7.78 billion in 2017, while the company ended with a loss before tax of N3.94 billion, relative to loss of N3.45 billion in the corresponding period in 2017. However, Notore’s free cash flow increased by 15.05 per cent to N7.21 billion.

Commenting on the results, Okoloko said, “Notore recorded N20.58 billion in revenue in the nine-month period under review. Though representing a 20.32 per cent decline to prior year revenue, this was largely due to sub-optimal capacity utilisation of the existing plant.

“We have now secured funding to carry out the required turn-around maintenance (TAM) programme of the plant, which is expected to be completed by the third quarter of 2019.

This will enable the plant produce urea at its nameplate capacity of 1,500 mtpd, significantly above the 53 per cent average capacity utilisation in the nine-month period to June 2018.

“We expect that the plant’s capacity utilisation

will increase to a minimum of 90 per cent after the TAM, positively impacting revenue on a like-for-like basis.”

According to him, Notore has extensive local and international distribution channels, which guarantee that the company sells all the fertiliser it produces.

“In addition to being the leading player in the fertilizer industry in Nigeria, and leveraging the inherent growth within agriculture, Notore’s key strength lies in its significant potential to significantly expand its operations and diversify its revenues due to its favourable location within a prolific gas hub and access to a jetty, which guarantees easy export of any products manufactured in the facility.

The Brownfield status of the plant and available land mass creates expansion opportunities with reduced construction cost and risk. Our recent listing by introduction on the NSE provides access to an expanded capital pool to drive the company’s strategic growth objectives,” he said.

He said Notore secured approval for a $37 million facility to fund its TAM programme, including the acquisition and installation of back-up power supply and critical plant spares.

He noted that the TAM is aimed at restoring the daily production capacity of the company to its 1,500 mtpd design production capacity, adding that Notore is expected to have an incremental production of approximately 150,000mt annually over its current average annual production of 300,000mt. Given that Nigerian fertiliser demand was robust and Notore was able to sell all that it produced locally during the nine-month period under review, the company undoubtedly has a bright outlook. This is bolstered by the fact that demand is expected to continue to grow because of the federal government’s agenda to use agriculture as one of the key sectors to diversify the Nigerian economy.

Going forward, the dynamics for the fertiliser industry remains quite favourable because with about 34 million hectares of arable land, Nigeria requires a minimum of seven million metric tonnes of NPK & urea fertilisers annually.

Add to this, the fast-growing cash crop segment with a minimum 1.2 million MT annual demand of crop specialty blends locally. There is equally rising importation of fertilisers by neighbouring West African markets from Nigeria (estimated at approximately 500,000 MT annually).

To ensure the sustainability of its revenue model, Notore has well-developed and structured commercial capabilities. These include fully automated field sales teams driving end-toend demand generation and fulfilment across over 700 local government areas in Nigeria. In addition, about 40 redistribution vans traverse over 2,000 rural farming communities, building distribution footprints and enhancing faster farmer accessibility to Notore products.

Notore also leverages on over 6,000 direct and indirect extension service staff embedded in rural farming communities driving farming awareness on modern best practice and inputs application to enhance fertilizer adoption. Other commercial capabilities that make Notore stand out comprise a network of 58 commercial farms and off-takers delivering 10-15 per cent of annual sales, as well as the effective collaboration with foremost non-government organisations, donor agencies and key government agencies and parastatals to improve economic conditions for smallholder farmers across the Nigeria.

Add to this the company’s key competitive advantages such as access to a reliable abundant gas field just 14km away from Notore’s facilities, ownership of a dedicated private jetty with direct port status for exports and imports at its convenience, and reasonable/controlled logistics cost. The company also has a Free Zone Developer Status with its attendant tax incentives specifically for export-oriented businesses.

In all, Notore is very well positioned to maintain its leadership in the agro-allied and chemical industries space within Nigeria in the long term.

T H I S D AY • WEDNESDAY, 15 AUGUST2018

27

BUSINESSWORLD

INTERVIEW

Olanrewaju: DBN Funds Have Kept MFBs Afloat Managing Director of Boabab Microfinance Bank Limited, the Nigerian subsidiary of Boabab Group, Dr Kazeem Olanrewaju, tells Eromosele Abiodun about the industry in Nigeria and how the intervention of the Development Bank of Nigeria and the Central Bank of Nigeria has helped to keep microfinance banks in business and grow small and medium scale rnterprises. Olanrewaju also discusses the rise of of Boabab Group, which commenced operation in France in 2005 and is presently in 12 African countries and China. Excerpts: tions are not so stringent, the interest rate is reasonable, at least it is cheaper than what we get from other purchase funds or other commercial banks. They benchmark their interest with the treasury bills which for me is very reasonable.

This has helped to expand our business. These are funds that if they have not been there you probably make do with what you have. It has served in the long and the short term. Each of our loan products carries with the requirement for compulsory savings and mandatory cash collateral from the customer. That has helped in increasing our savings, aside from getting these funds from the DBN; there are ancillary benefits, of increasing our savings.

Tell us a brief history of the bank and your achievements so far?

Baobab is a group of microfinance banks both in Africa and China. We are in about 12 countries in Africa and China. The company started from France and the parent company today is in France, with all the affiliates in both Africa and in China. Boabab group started in 2005 in France. But coming home to Nigeria, it started in 2009 and we opened our business offices in 2010 in Kaduna. Presently, we have a national licence, which has taken us to about four states - Lagos, Ogun, Kaduna and the FCT and we are still counting.

You have been in this industry for a while.

Can you tell us some of the challenges you have faced over time?

I have been a banker all my life. I started my career in a commercial bank. There is no doubt that the commercial bank segment of the Nigeria financial sector has really developed. But the microfinance sub-sector is still at its infancy stage. There are a lot of challenges that are associated with this level of development of this subsector. Briefly, one will look at them from economic regulatory, funding, perception, and knowledge. In terms of the economic side of it, you discover that because of the limited capital that is available to do business, weathering through the economic turbulence is really very difficult because you don’t have enough funds to be able to stabilise the business the way it ought to be.

Don’t forget that customer perception is very important. The ability to trust you to be able to meet all your financial needs and meet your entire obligation is very important.

A lot of microfinance banks are challenged by the fact that they don’t have enough capital to do the business that they would have otherwise done. Again, when you see the downturn in the economy, it will take its toll because of the limited capacity. The fact that you are not everywhere, and you cannot tap all the resources available, because of this context, is a big challenge to the sub-sector.

Then another factor which is related to this is funding. As you grow as a microfinance bank, your growth is determined by your ability to expand your business in terms of your loan book. Funding becomes a very critical issue after your take off, unlike the commercial bank, not many people are willing to stay with the microfinance bank, so the sources of fund is very limited and when it comes they are always very expensive. I see this as a major problem or challenge to the microfinance sub-sector such that most of the banks are not able to take advantage of the business that is available in their environment. This is also closely related to perception challenge. Not so many people have the confidence that a microfinance bank is just like any other bank where you need to trust and put all your money and do all transactions.

The mention of the name micro-finance bank some people begin to fidget about safety of funds and other issues. This has not made it possible for the supply of funds to find its flow and it just means that most of the time, the operators must look for purchase funds, which of course is expensive, and it is always very difficult to get. The other challenge is related to the age. This is a new concept which started in 2005 in Nigeria. So, you discover that there is a huge knowledge gap such that even when you have the funding and the capital to get people who can operate this microfinance banks very well, it becomes very difficult and that is why you see that majority of the bank that started failed. They failed because people don’t have the requisite knowledge to run an

Olanrewaju

institution to such a level where it becomes stable and it can grow further. The other side which is connected to this is the regulatory aspect. Although, the Central Bank of Nigeria (CBN) has made efforts to revise the initial guidelines, I believe that another one will come very soon. Some of the provisions that you have in the regulations require some changes and improvement just to make business, easy and attractive. For me, these are the few areas; one can categorise all the challenges.

How have you been able to tackle some of these challenges?

Well, given the strength of Baobab, issues such as the economic is a general problem, what we need to do is to have a good business plan that takes into consideration future progression as what the economic is going to be like in the next one year or 24 months. We build our business plan around these progressions.

Sometimes, these progressions can come out to be accurate, and other times, it may not be accurate that is the risk in the business. In the area of regulation, I think what we have tried to do is that we comply. We have a very strong compliance team to make sure that we don’t flout any of the rules. For funding, it has been a challenge. Most of the funds we use today, over 35 per cent are purchase funds, meaning that we have take loans from local commercial banks and international lenders. Well the supply is there, but because of the sources, some of the funding are adjudged expensive. In terms of knowledge gap, we have a training school today that ensures that everybody is impacted with knowledge. To join the company, you must do minimum six weeks in the training school and there is continuous training such train the trainer. Some of these gaps are been addressed, but also very expensive to address all these gaps.

What is your relationship with the Development Bank of Nigeria (DBN)? Can you tell us how the funds you received recently from the bank were disbursed?

DBN has been very supportive. We started a partnership arrangement with them for the funding of the SMEs. They identified us as

one of the banks that should be able to handle this programme which commenced some few months ago. We got about N500 million from them and this money has been fully disbursed to our various customers. We have commenced repayment. The big attraction is that this loan was given with less stringent conditions. The interest rate is very attractive, at least it is better than what we get from other purchase funds that we have from other sources and that has helped to expand our lending horizon. N500 million is quite a substantial amount. Now that we have commenced the repayment, we believe that DBN will be willing to increase this for us and we can move forward. But there is no doubt that this has added to our ability to reach more clients both breadth and depth and provide them with a longer-term loan which we believe that at the end of the day help their business. I think it is a step in the right direction. This is not a common programme that you see in Nigeria, it is well thought out programme and we just pray that it succeeds, and we can continue this partnership which has imparted positively on our clients.

Based on the feedback from your customers would you say the DBN programme is a well thought out programme?

Our customers are very happy. Every one of them has expressed joy with DBN funds. I will tell you today that the fund is not adequate.

In fact, if we have N2 billion or N3 billion today, it will not solve all the issue that are on ground. Yes, they are very happy, but given the size of the population and the economy, this is just a drop and we hope that this drop will continue to come, and more people will benefit. But there is no doubt about that people that benefitted are happy both with the interest rate, the time it takes them to get this fund and the ease with which the funds get to them.

Like you said earlier, the difficulty in mobilising savings for microfinance banks, like the commercial banks, will you say that the DBN loans will help microfinance banks to stay afloat and do more business?

Definitely, the DBN loan is coming at a time when it is most needed. Most of all, the condi-

Tell us about some of your products We have quite a lot of products, both for loans, advances and savings. We also have insurance products and transfer products. But if I need to go into specifics for instance, savings, we have things such as ‘ajo’, which is the normal contribution that you see people do. What we have just done is to automate the contribution and to give reward back to our customers where somebody can get the returns that are higher than whatever you can get from any savings or fixed deposit anywhere. We have loans and advances of different categories, the minimum loan been N10,000 and maximum to be N50 million. We have micro, micro plus and SME loan. Interestingly, we also have loans that are automated like Electronic Loan Processing, ALIP, such that if you are a good customer with good repayment, you can actually get 20 per cent increase on your loan without doing any other thing. You just need to sign a contract; it means that this can be gotten within 30 minutes. We also have a loan we call ‘Taka’ loans, which small loans you need for consumption or for business and you can get as much N50,000 and this can be processed within one hour in the system. Of course we have other things such as regular saving, current account and fixed deposit account like any other bank.

How many SMEs have you extended your loans to?

From inception to date, we have done N55 billion disbursement. We have disbursed to over 120 customers. But in terms of outstanding loans we have in the hands of our customers today, we have a lot less than N6 billion and we have 22,000 loan customers presently cutting across Nigeria. Our intention is to continue what we are doing, to see how many people we can bring into the bracket. This is very small compared to the number of people who will need this loan.

Of course, we are starting gradually, and we just hope to this and see how many of them we can capture at the end of the day.

Where do you see the future of microfinance banks in Nigeria?

Well, I think the government and the development banks and CBN are coming to the realisation that microfinance cannot be left on its own. In other words, you cannot just say that the proprietors should just stay on their own. Interestingly, the CBN approached us four months ago, for the housing loan; it is not common for a CBN to approach a bank and say they want to partner with you. Presently, we have a relationship with CBN, where we have signed agreement for the disbursement of N500 million for housing loan. They have given us the first N78 million and we are expecting another N200 million in another two weeks. This specifically address that area of housing for micro-entrepreneurs. If you look at the mortgage structure in Nigeria, it is going to be difficult for a micro-entrepreneur to get any form of assistance. You must live

28

T H I S D AY • WEDNESDAY, 15 AUGUST 2018

BUSINESSWORLD

INTERVIEW OLANREWAJU: DBN FUNDS HAVE KEPT MFBS AFLOAT

in a rented apartment which means that you cannot own a house of your own. But what CBN has done today is such that everyone can get this loan and start something very small.

The loan covers purchase of land, building, refurbishment and other things. Therefore, the response from DBN and CBN are quite good and I think it is a step in the right direction where you can provide the funding and allow microfinance banks to operate in their natural habitat to be able to disburse these funds and ensure that they get the repayment from their customers. I will say that the CBN and the DBN are going in the right direction to providing the funds to support business plans and the objective of microfinance banks in Nigeria.

I wish this has started long ago, but it is never too late and now that it is coming, we need to do more and support as many microfinance banks as possible, ensuring that a lot of people benefit from these funds and taking them out of poverty. This is what has been done elsewhere in the world and it has really helped, as opposed to government giving out social welfare. So, people can take their destiny in their hands.

We provide them with funds and they know what to do and make their life better.

Then gradually we can take more people out of poverty. If you look at the size number of people in poverty, Nigeria is rated as one of the highest in the world today. Perhaps, programmes such as this can begin to bring them out, get them businesses, houses, and they can come out of that bracket, then the country too will have a better outlook, and maybe some of the social problems can be avoided.

The CBN funds addresses housing needs, the DBN fund addresses SME needs. The fund for DBN is particularly to help people that are business or who want to go into business. It is projected towards being an entrepreneur, setting up your own business and getting and cash flows.

For instance, if you have existing business, we can give you working capital, that is what the DBN loan is all about. But for CBN, it is tailored towards housing because what the CBN has realised is that housing is very essential for Nigerians. They are not able to get the mortgage that they require to help them come out.

They are partnering with the World Bank to provide funds to microfinance banks so that micro entrepreneurs can access these funds and have houses of their own. So, the two of them even though targeted at the same market, they have different objectives, DBN the objective is to support entrepreneurs, expand the business horizon for maybe for people of the bottom of the pyramid. The CBN is target at the same people, but they are looking at housing.

Olanrewaju

What can you tell us about your Corporate Social Responsibility initiative?

In terms of CSR, we have what is known as business exclusion. There are businesses that we don’t touch at all. Any business that will impart negatively on their environment we don’t touch. Any business that has a negative social consequence, we don’t touch it. Any business that will have a negative effect on live, we don’t touch it. So, we have about 19 items on the exclusion list that we don’t touch at all, we don’t fund, and we don’t participate in, so all the products are tailored to protect the environment, social factor and to be transparent. Beyond this as a company, we also look at our social responsibility in our society. We make donations like we did to Nigeria Army, some of the host communities, Sango-Ota, we connected light for them, and we had to pay for them to get the transformer. We supported the Nigeria Police Force (NPF) and recently this year, during the Children’s Day, all our staff was dressed like children, we went out to some many schools to donate books to them, and some we gave them computers. We hope next year, we will go into scholarship scheme, for people. So these are some of the things we have done.

Tell me the success story of this bank?

Success story of this bank, I am going to say it from the perspective of the clients themselves.

Success story is the people we have been able to take out poverty and today make them even above middle class. About four five months ago, we had financial inclusion meeting with

the CBN and a lot of people from all over the world and there was a particular woman in our branch in Kaduna whose said she started her business with less than N50,000. Today, her business has expand beyond N15 million, she is actually on 15 million loan with us and we have this all over the place. For us, the system is designed that the customers are allowed to grow with us and we encourage them to grow because the more you are able to meet your obligation as a client, we will open the tap to you and you can determine how far you want to grow. This has changed the face of so many people. For me, this is the biggest success story we can talk about that we have impacted people’s lives positively and increase their ability to do business. We have been able to improve their standard of living and this is what it is all about. In terms of impact in the life of the people, I think this is where we have our success story. As a Nigerian, I am also very happy, the contribution that we have made to the economy, disbursing over N50 billion in seven and eight years, it is not a joke. Even having an outstanding loan of about N6 billion is not a joke. Today, we have close to N500 staff, my estimation is that before the end of this year, we will probably have about 700 staff that means that we have taken a lot of people out of the labour market. If you want to look at the impact on their families, you can multiply that by four or five. These are the success stories which I am happy about.

Most people think microfinance banks cannot strive in Nigeria that is far from this truth.

This bank is doing well. I see it do very well till the nearest future, so that these are things that when you put together makes one happy.

What we are doing is a worthy service both to the nation, our people and the business community in general.

As an expert whose has been in the sector for a while, can you tell how the country can deepen financial inclusion?

I think it is an important area, which the CBN and the federal government have been trying to address. Today, one of the easiest ways is technology. It is an expensive venture, but that is the way to go as opposed to mortal and bricks. You cannot build your bank everywhere, but you can reach everybody everywhere, just like you have social media, everybody can get the news about what is happening per time, same way. You can bring a lot of people into the financial brackets, and make sure to have one form of relationship, access to financial services by technology. This is one of the areas, my bank is trying to address, we are doing some pilot test in other countries in Africa and I hope it will come to Nigeria. This is one of the

areas, the other way is to continue to do what we are doing, making our presence available in as many places as possible for people to access financial services whether loans, savings, funds transfer, or insurance. But the way to go is the way of technology. You hear about fintech. Today, from statistics you have over 40 million Nigerians who ordinarily should have had a bank account, but they don’t have one and some of them are in very challenged areas, where you have some social security issues. There are some areas where areas to good roads and telecommunication are very difficult. So the way to reach them is technology and today, we have all kinds of applications that can support this initiative.

Talking technology, I want to tell us the impact of Information and Communication Technology (ICT) on the banks, and your capital base?

Today, our capital base is closed to about N3billion. ICT on a yearly basis, I can tell you that we have close to half a billion dedicated to ICT and I can tell you that this may not even be enough. But what we are trying to do is to try to see how we can bring as many Nigerians as possible into our services. Presently, we have about 7,000 customers. With technology, we believe that in the next few years we should have a million customers. Even without having to build brick and mortar all over the country.

The other thing we are trying to work on is the agency network to see if we can have agents across the federation. These things are still in planning stage and in 2019, we will launch out in our agency network just to bring in as many people as possible to be able to access financial services all over the place. But even at that, ICT has a lot of roles to play reaching the unbanked population across the country.

Where do you see your bank in the next five to 10 years?

This is a growing bank with a lot of potential, by business plan, in the next five years, we will probably be having an excess of 50, 60 branches, definitely, we will be having customers close to an million. In terms of loan book, we should be doing in excess of a 100 billion. This I see possible. In the last two years, we have been able to triple our loan book and triple the number of customers we have. So if you take that projection further, it is a task that is achievable. There is no doubt that Nigerian is the biggest market, with the population in Africa and my company which is a group especially the Africa market to realise the importance of Nigeria. A lot of resources have been devoted to make sure that we tap into the Nigeria market.

It looks like we have not scratched the market at all, we intend to deepen our services and broaden what we are doing. The sky is actually not the limit. We will probably go beyond this.

TEXEM Harps on Human Capital Investments, Organises Executive Programme Nosa Alekhuogie Digital breakthrough is shaping every aspect of human lives, experts have revealed.

From consumer goods to healthcare, energy to agriculture, transportation to telecommunications, financial services to the public sector, the foregoing underscores the potential for digital technologies to transform the way organisations operate, they noted.

While organisations in Nigeria collect an enormous amount of data, many organisations do not have the competence to translate this data into a competitive edge. Leading in Nigeria is made more difficult than in other economically advanced climes due to poor application of available data and increasingly challenging contextual realities such as weak institutions, limited infrastructure, increasing security challenges and fragile political landscape.

Thus, organisations need to invest in developing their people, process, and structure to turn big data into a viable source of stakeholder value creation.

Owing to this, the and Board of Directors of TEXEM, UK have concluded arrangement to invite senior executives in Africa to the forthcoming executive development programme: “Harnessing Big Data: Insights and Action for Strategic Outcomes,” scheduled to hold from September 3rd - 6th 2018 at Oracle University, Reading, UK.

Focused on improving data-informed decision making, optimising leadership quotient, inspiring a culture of innovation and driving enhanced organisational efficiency and effectiveness, this program offers steeper learning curves on how market-leading companies are using stakeholder data to reshape their companies and industries and how this could be applied in your organisation. Upon completion, executives will be equipped with fresh insights and analytical skills required to harness the power and potential of big data and create more value for your company.

Executives who attend this programme would learn the secrets of modern-day competitive intelligence, the importance of virtual reality, robotics and artificial intelligence and how this could improve strategy development. They would also gain insights to develop, implement, and manage collaborative forecasts and learn how to develop transparent, interrelated and aligned processes, Analytics and Data-Driven Decision Making, actionable insights in leading an analytics transformation, Case Studies of Superlative Results from Harnessing Big Data and ways to avoid business analytic failures.

This programme will be facilitated by world-renowned Professor Rodria Laline (Visiting Professor of Harvard, Insead and IESE and Chair of Intrabond. Capital) The cost, which is £3000 (N1,500,000), is expected to cover study materials, meals during programme, group picture, and certification.

Commenting on the programme, Laline said, “In an era of very scarce resources, roller-coaster paced innovation and cut-throat competition, how do we challenge today’s board governance and leadership practices when artificial intelligence and cognitive computing power is aggregated in the hands of Google, Amazon, Facebook, Apple, Microsoft, Baidu, Alibaba, Tencent, and the likes?

“Will we outsource our brains? Will we connect our human mental states to the dynamic interfaces of modern intelligent systems? Are we underestimating how technology is shaping us? What happens if we leave all algorithms affecting our lives obscured in black boxes?

“What kind of values do we embrace? Who are we? How do we want to live? Big data and predictive analytics are transforming practices in the new business ecosystems.

“What goes into big data, predictive analytics and artificial intelligence many of us don’t know? Discover how to strengthen your own contribution and overall board effectiveness to truly drive business value, competitive advantage, and board engagement.

“Make a powerful statement to your investors, management team and the public about your commitment to governance excellence.

Learn to ask clever questions. Take control.

Join TEXEM at Oracle University”.

Speaking about his experience from previous programmes attended, the CEO and Publisher Businessday, Frank Algbogun said, “I found

this program very, very rewarding. In the past, I always had a way of thinking that the matter of sustainability-related only to policy matters but during this programme it has been broken down into the company level and for me there are a number of takeaways that I hope to begin implementing once I get back home.”

“Executive Development programme at Oxford and designed by TEXEM was perfectly conducted-The Faculties were very high profile with excellent communication skills.

The tours were educative, informative and enlightening,” Member House of Assembly, Federal Republic of Nigeria, Tijanni Ibrahim Kiyawa said.

“Learning, training is a life process. So, to choose the right facilitator is a very significant point for us, the executives and TEXEM seem to have the right connection and variety for extraction to provide us variety programmes, thank you very much,” Michailidis Michail, Chief Financial Officer, A.G Leventis also said.

On his part, the Managing Director, Future Unity Glenville Pension Limited, Usman B. Suleiman said, “This is the first I am attending TEXEM programme and I have realised that I have missed a lot by not attending earlier programmes. I can say that it is really an avenue for human capital development that my company should not miss out on. So overall, I will say that it has been a worthwhile effort.”

T H I S D AY • WEDNESDAY, 15 AUGUST 2018

29

BUSINESSWORLD

INSURANCE

PenOp Provides Recipe for Successful Micro Pension Scheme Ebere Nwoji As the National Pension Commission (NAICOM) prepares grounds for the implementation of the micro pension scheme which will enable the informal sector operators participate in the Contributory Pension Scheme, the Pension Fund Operators Association(PenOp) has recommended steps to be taken to encourage participation by the targeted audience.

PenOp Chairperson, Mrs Ronke Adedeji, who gave the recommendation at the third conference for insurance and pension organised by the National Association of Insurance and Pension Correspondents (NAIPCO) in Lagos recently said, “flexibility of contribution amounts, access to contributions/savings, incentives for participants,

financial/pension education, coverage of a high proportion of the population, and availability of infrastructure that is supportive of mass registration.”

Other conditions recommended by her included flexibility in collection of contribution, and database management, easy and straightforward access to benefits among others.

She described micro pension scheme as an imperative scheme with urgency, saying this was because by its nature, it is a scheme with increasing longevity, a scheme which potential patronisers are mainly large and relatively young population with enough potential to reduce poverty and raise standard of living, a scheme with changing culture/ diminishing family support, as well as a scheme which

potential customers are characterised by growing size and mainly from informal sector market with high potential to transform the economy.

She defined micro pension as an arrangement for the provision of pension and retirement benefits to the low income, self-employed and persons operating in the informal sector, adding that it protects the low income members of the society against the vagaries /unpredictability of old-age

poverty.

“The formulation of such schemes requires a delicate balance between economic viability, generation of adequate returns and customised features for the participants,” she stated.

According to her, for the scheme to succeed, there is need to properly address administrative, design and efficiency issues.

On strategies to encourage engagement in micro-pension plans, Adedeji, said there is

need for awareness creation, need for provision of incentives to participants as well as need to encourage contribution of small frequent amounts.

She also suggested that contribution rates should be flexible with convenient door to door collection of contributions encouraged as well as insulation of the participants against volatility in investment growth.

She further said operators of the scheme should leverage on technology to facilitate

easy contribution/payments.

Section 2(3) of the Pension Reform Act 2014, paved the way for micro pension scheme, stipulating that employees of organisations’ with less than three employees as well as self employed are entitled to participate under the scheme in accordance with guidelines issued by PenCom. This group covers the informal sector which plays an indispensable role in Nigeria and world economies.

PTAD Commences Payment of Nigeria Re Pensioners’ Benefits No less than 284 pensioners of the Nigeria Reinsurance Corporation (Nigeria Re) have been enlisted in the payroll of the Pension Transitional Arrangement Directorate (PTAD) for monthly payment of their retirement benefits.

This is coming 16 years after the federal government privatised the corporation.

A statement from PTAD said already, the agency had paid a total of N8.31 million to the above workers for July 2018, as a start for onward receiving of their monthly pension for life.

Commenting on the development, the Executive Secretary PTAD, Sharon

Ikeazor, said that retirees would no longer be exposed to delayed pensions benefits.

“Today, Nigeria Reinsurance pensioners verified by PTAD Nigeria have been placed on monthly pension payroll. It is indeed a promise kept,” she stated.

She thanked the PTAD team for dedication and determination to fulfil the mandate of the Directorate and pledged government’s commitment to pensioners’ welfare.

She also assured pensioners that the backlog of outstanding pension arrears will be cleared as funds are allocated and released.

Mutual Benefits Rights Issue Ebere Nwoji Mutual Benefit Assurance Plc recently commenced its rights issue through which is aims to raise additional N2 billion.

Mutual Benefit Chairman, Akin Ogunbiyi at a meeting in Lagos, reassured the shareholders of the company’s commitment to sustainable growth, in line with its 5-year strategic plan.

He said the N2 billion rights issue when realised, would be used to increase the company’s shareholders’ funds , strengthen its capital base, deepen capacity to underwrite risks, upgrade its information technology and enhance its working capital.

“The 0.50 rights issue of four billion ordinary shares is scheduled to be available between August 6, 2018 and September 14, 2018 on the basis of one new share for every two shares held as at October 31, 2017”, Ogunbiyi said.

On the company’s performance for the year ended December 31, 2017, he said, “the 2017 financial year revealed a 15.6 per cent growth in gross premium to

Opens

N14.04 billion, from N12.14 billion in 2016, which puts the company among the league of top Nigerian insurance companies.

“Net benefits and claims grew by 53.9 per cent from 2016’s figures. The significant growth in gross premium and better management of resources made 2017 a turnaround year for the company.”

According to him, both shareholders’ funds and policyholders’ funds are represented by the right portfolio mix of short and long-term investments.

He noted that the biggest improvement recorded by the company during the period was the N1.02 billion profit that was declared, as against the N1.35 billion loss recorded in 2016.

The shareholders were elated to hear that dividend of N160 million had been approved to them for the period under review just as the chairman reiterated that the payment of the dividend would mark the beginning of consistent dividend payments to the company’s shareholders.

DISCUSSING INSURANCE AND PENSION

L-R: Past President, Chartered Insurance Institute of Nigeria, Alhaji Bala Zakariya’u; Managing Director/CEO, Sunu Assurance Plc, Mr Moruf Apampa; Managing Director, Lancelot Ventures Limited, Mr Adebayo Adeleke; Executive Director, Law Union & Rock Insurance, Mr Supo Sogolola and Head, Research and Strategy Management Department, PenCom, Dr Farouk Aminu, at the third annual national conference of the National Association of Insurance and Pension Correspondents held in Lagos… recently

Amo Farm Lauds Ogun Empowerment Initiative

Linkage Assurance Gets NAICOM’s Approval to Underwrite Agric Insurance

Sunday Okobi

Underwriting firm, Linkage Assurance Plc has secured the approval of the National Insurance Commission (NAICOM) to underwrite agric insurance in the industry.

The ‘no objection’ nod would enable the firm support the farmers and service providers in the agricultural value chain for greater sustainability and economic growth.

Among the products approved include Linkage Assurance Crop Insurance Solutions; Linkage Assurance Farm All Risk lnsurance; Linkage Assurance Farm Motor lnsurance; and Linkage Assurance Livestock lnsurance solutions.

Linkage Assurance Management in a statement to this effect, said the Nigeria’s agribusiness sector needs insurance to remain sustainable and achieve long term growth expectation.

The company urged stakeholders in the agricultural value chain to embrace insurance by reducing retained risk and transferring the burden to insurers for effective risk management.

It said with the approval, it was now well positioned to broaden its product offerings to consumers, which is in line with the federal government objective to deepen insurance penetration in Nigeria.

“Linkage Assurance by this development is strategically ac-

The Ogun State Governor, Ibikunle Amosun-led administration’s approach to alleviate poverty, improve the living standards of rural women in the state as well as making them economically independent through Noiler Birds Empowerment initiative has been commended.

Speaking at the second phase of Noiler Birds Activation and Distribution in the state, the Group Managing Director of Amo Farm Sieberer Hatchery Limited, Dr. Ayoola Oduntan, said the programme which witnessed the distribution of 35,000 Noiler birds to 3,000 rural women across the three senatorial districts of the state, showed the commitment of the state government to develop agriculture.

Oduntan, who expressed his company’s commitment to rural empowerment and the success story in the state, said the programme was an expansion on the first phase where 1,000 rural women benefitted from 10,000 Noiler birds in partnership with British American Tobacco (BAT) Nigeria.

According to him, Noiler can significantly reduce childhood stunting, infant mortality, maternal mortality as well as tackle

poverty and malnutrition.

He stated further that the testimonies of previous beneficiaries (small holder farms) attested to the fact that Noiler Bird, a dual purpose breed, was suitable for backyard rearing.

“The Noiler project’s objectives among others are to increase rural women’s income, improve households’ nutrition and increase women’s productivity and economic activities.

This ultimately reduces poverty among rural dwellers by improving quality of life through meat and egg production. “It has taken 15 years of hard work and investment to develop Noiler.

Its uniqueness as a Nigerian product resulted in it being celebrated in Nigeria.

“The Noiler bird is a dual-purpose bird that grows quickly and bigger than the native birds, lay more than the native birds but most importantly, it would survive in rural backyard environment with fewer resources,” Oduntan said.

He noted that the Noiler birds are easy and cheap to rear because of their ability to feed on remnants from the kitchen and farms and have been successful in diverse backgrounds from Maiduguri to Yenagoa.

celerating its business objective of building a dominant company in the Nigerian insurance industry.

“Linkage Assurance Crop Insurance Solutions provides cover against unavoidable loss of crops or resulting directly from the insured perils, example flood, drought, excessive rains, hailstorm, diseases and pest, with covers including Weather lndex Crop Insurance; Area Yield - lndex Crop lnsurance and Multi-peril crop insurance,” it added.

The Linkage Assurance Farm All Risk lnsurance was designed to cover the farm buildings/ contents, farm products and machineries against theft and fire. It also provides cover on general accident for farm staff and farmer’s legal liability.

While, Linkage Assurance Farm Motor lnsurance protects the insured for loss of or damage to vehicles used in the farm or agricultural business, damage to Third Party property including bodily injury and death to third parties caused by accident.

Linkage Assurance Livestock lnsurance solutions is specially designed to cover the farmer’s stock with one simple policy, which can provide immediate protection against death due to accident; death due to illness or disease; loss of use due to accident; and loss of use due to illness.

30

T H I S D AY • WEDNESDAY, 15 AUGUST 2018

BUSINESSWORLD

NEWS

FCMB, Group Promote Entrepreneurship, Innovation First City Monument Bank (FCMB) recently demonstrated its commitment towards youth empowerment by sponsoring a capacity building programme for almost 1,000 members of the National Youth Service Corps (NYSC) in Abuja.

Tagged “Youth Entrepreneurship and Empowerment Programme,’’ the event was in partnership with Activate Success Foundation.

The interactive and exciting session provided a platform for the NYSC members to look inward, develop and deploy their business skills through practical trainings facilitated by experts and successful business owners.

According to a statement, the development would go a long way to empower the youths with requisite resources to start and grow successful businesses during and after their service year in order to become financially independent and contribute significantly to national development.

Commenting on the initiative, the Executive Director, Retail Banking of FCMB, Mr. Olu Akanmu, said the move was in line with the commitment of the bank to provide multiple opportunities that would inspire and enable youths to be actively engaged and eventually become successful business owners.

According to him, “FCMB

Flexx account empowers Nigerian youths with the entrepreneurial and employability skills they need. Many youths set up their own businesses from their campuses.

“FCMB will be there with them to provide the necessary entrepreneurial and business skills they need to make great successes out of their businesses.

“FCMB will also provide great support for the youth businesses and work with them to nurture and grow the youth entrepreneurial ventures.’’

Also speaking, the Founder of Activate Success Founder, Love Idoko said, “I have a penchant for motivating people. There are businessminded youths out there that are just looking for mentorship or business ideas as well as funds to start their businesses.

“The purpose is not just to give grants, it is to also empower and motivate as many youths as possible”.

Among the facilitators at the programme were a Member of the Lagos State House of Assembly, Desmond Elliot; Chief Executive Officer, Vodi Tailors, Mr. Seyi Adekunle and Executive Director, YIAGA Africa, Mr. Samson Itodo, of the #NotTooYoungToRun fame.

At the end of the programme the sum of N2.7million was given as

Ethiopian Airlines Records Improved Financial Performance Chinedu Eze One of Africa’s largest carrier, Ethiopian Airlines said it posted improved performance in its 2017/18 fiscal year.

The company said in line with its 15-year strategic roadmap, Vision 2025, the airline registered historical success in financial, commercial, operational and customer service areas.

During the year under review, Ethiopian introduced additional 14 new aircraft, more than one aircraft per month. The airline opened eight new international destinations, which include Geneva(Switzerland), Chicago (USA), Bahrain, Kaduna (Nigeria), Buenos Aires(Argentina), Kisangani and Mbuji-Mayi (Democratic Republic of Congo) and Nosy-Be (Madagascar); The number of passengers carried grew by 21 per cent, topping the 10 million mark for the first time in the airline’s history and reaching 10.6 million passengers.

Freight carried grew by 18 per cent from previous fiscal year to attain 400,339 tons.

Operating revenue grew by 43 per cent from previous fiscal year to culminate at 89.1 billion Ethiopian birr (ETB) and net profit stood at 6.8 billion ETB. During the fiscal year, the airline was given for the first time in its history a 4-Star rating by SKYTRAX, the leading customer service rating organisation in the airline industry, putting it on par with other global airlines. SKYRAX also recognised Ethiopian as

Best Airline in Africa; Best Business Class in Africa and Best Economy Class in Africa.

Ethiopian reached and passed the 100th aircraft in service milestone during the year, becoming the first African airline in history to do so.

Recapping the exceptional 2017/18 fiscal year performance, the Group CEO Ethiopian Airlines, Tewolde GebreMariam said, “It was an exceptional year for Ethiopian with record performance in financial, operational, commercial and customer service areas.

This historical performance is, due first and foremost, to the commitment, hard work and competence of my 16,000 colleagues with each one of them at all echelons of the company playing a critical role in this success.

“I wish to thank them for their dedication, hard work and contribution in enabling our national carrier to fly high in the sky and defend the colours of our country and our continent. They are the backbone of the airline and the architects of its success.

“This performance is more exceptional given the very tough operating and competitive environment in Africa, where jet fuel price, our main cost driver, has soared during the year and is on average 30 per cent more expensive in Africa, our home market, than in the rest of the world, putting the continent’s carriers at a severe competitive disadvantage.

grant to some of the youth corpers with excellent business ideas to enable them start-up.

FCMB has over the years

developed various engagement programmes focused on empowering young Nigerians such as #FlexxYourCreativity,

#FCMBFlexxtern and the Flexx Youth Entrepreneurship Masterclass. Through these initiatives, FCMB had given

young entrepreneurs and students access to training, funding, mentorship, networking opportunities and jobs.

REWARD FOR LOYALTY

L-R: National Head of Sales, Spectranet 4GLTE, Joe Mazeli; Deputy Manager, Enforcement & Compliance, National Lottery Regulatory Commission (Lagos Zonal Office), Niyi Adeleke and Head of Marketing, Spectranet 4GLTE, Mike Ogor, at a draw for the Spectranet World Cup promo held in Lagos… recently YOMI AKINYELE

AMCON Intensifies Multi-pronged Strategy for Assets Restructuring, Disposal Ugo Aliogo In response to a changing and challenging context, Asset Management Corporation of Nigeria (AMCON) has intensified a range of strategic measures to achieve faster outcomes in debt recovery, restructuring and disposal of assets as well as other areas critical to its mandate.

They include the immediate steps such as an enhanced debt recovery drive as well as engaging the National Assembly on making necessary adjustment to the AMCON law to make it more difficult for uncooperative debtors to continue to hide behind legal technicalities.

The measures were designed to build on recent successes such as the turnaround of Aero Contractors, Arik Air and Peugeot Automobile of Nigeria (PAN) which before prior to the corporation’s takeover had become financially distressed after years of slipshod governance, poor staff morale and declining services.

Another notable milestone, according to a report, was the turnaround and sale of the one million-ton steel rolling factory complex in Ovwian-Aladja, Delta State. The decades-old moribund multi-billion dollar firm, formerly known as Delta Steel Company now under the management of Premium Steel Company is now operational. AMCON tackled the longstanding problem of unpaid workers’ entitlements with payment of salaries and gratuity arrears of over 1,600 staff.

The new measures which have assumed a measure of urgency because of the corporation’s imminent 2023

sunset clause, are necessitated by the significant challenges posed by the failure of obligors (debtors) who have failed to meet their obligations to AMCON. However, analysts at Financial Derivatives Company (FDC) predicted that the Corporation’s sunset clause would be extended.

They suggest that AMCON had made such a positive impact on the economy in the eight years of its existence that it should be allowed to continue operations after 2023.

They argued that but for the establishment of AMCON, “Ten affected banks would have collapsed; N9 trillion of total assets would have been wiped-off; contagion would have affected healthy banks; depositors would have lost over N3 trillion (NDIC insured deposits not enough to compensate for losses) and inevitable run on banks.”

Also, they pointed out that AMCON, “Mitigated the woes of the recession; rescued over 13,000 businesses and provided technical and financial impetus.”

Despite these strides, the total debt portfolio of AMCON currently stands at a whopping N5.4 trillion.

As revealed recently by AMCON’s Managing Director, about 80 per cent of the debt – N4.3 trillion - is owed by businesses owned by 350 Nigerians.

In response to this situation, AMCON has upped the ante, moving aggressively to seize the assets of defaulting obligors.

Some of the problematic assets in question were taken over by banks five years before AMCON bought them over

seven years ago.

Recently, AMCON secured a court injunction to seize the assets of Sea Petroleum Oil & Gas Limited, whose chief promoter is former Minister of Aviation, Princess Stella Oduah. Princess Odua, a serving senator, is allegedly owning the corporation N20 billion.

In another instance, the Federal High Court Abuja Division granted AMCON the right to take over Sigma Apartments owned by Sigma Engineering & Construction Limited over a N1 billion debt.

Speaking recently on the new strategy, the AMCON CEO said “AMCON, after seven years of

negotiating with the obligors with no commensurate recovery result, has decided to change its strategy, which now pays strict attention to enforcements as a way of compelling especially the recalcitrant obligors to come and pay up their debts.”

To achieve this however, Kuru said the corporation would be heavily dependent on the legislature, most especially members of the National Assembly to expedite the amendment of the AMCON Act, since most of the politically exposed business heavyweight obligors have perfected the art of using antics in law to tie the corporation up in courts.

Group Holds Awards, Conference Awesome Brands Magazine, the organiser of Star Brand Awards will hold its exhibition and conference in Lagos on August 31, 2018.

According to the publisher of Awesome Brands Magazine, who also doubles as the Chairman Organising Committee of the event, Mr. George Nwachukwu the Star Brand Awards (STABA) was conceptualised to honour brand excellence amongst the best of brands in Nigeria and the world.

It is awarded to deserving brands from multinational, trans-national corporations, large corporations, small and medium enterprises(SMEs) that have shown best practices in branding and met the stringent selection criteria.

“Branding is one of the most important aspects of any business, large or small, retail or business-to-business(B2B). An effective brand strategy gives you a major edge in increasingly competitive markets. Simply

put, your brand is your promise to your customer. It tells them what they can expect from your products and services, and it differentiates your offering from your competitors. \A Great brand is the most valuable real estate in the world – a corner of the consumer’s mind. A great brand is much more than a slogan, a logo, a campaign or a product. A great brand is the promise to always deliver value for money. It represents an image that is unique, timeless and that consumers identify with,” he said.

He explained that the conference would be an international networking for leaders’ experts and peers who are eager to share their best practices, tested solutions, and proven results.

2018 Star Brands Leadership Awards Conference is set to be an informative and inspiring day of new ideas, stimulating debate and renowned speakers, dedicated to driving forward the innovation and quality agenda.

T H I S D AY ˾ WEDNESDAY AUGUST 15, 2018

31

32

T H I S D AY Ëž ÍŻÍłËœ Í°ÍŽÍŻÍś

EDUCATION How Patent for Research Innovations Can Impact Society Against the background of the bureaucratic bottleneck encountered in acquiring patent for research innovations and other challenges, university lecturers explained that funding of research innovations, encouraging appropriate organs of the institutions to have units for innovations, as well as evolving a clear cut policy on such meaningful research will do the society a lot of good. Funmi Ogundare reports

O

ver the years, Nigerian universities and research institutes have been generating some inventions, however, only few of them have been patented because the researchers had probably not been sufficiently motivated.

Patent education is also said to be poor in Nigerian institutions because the researchers were uninformed about patent issues. One of the challenges confronting patenting of innovations is a lack of a clearing house of research efforts such that inventions and efforts are not duplicated . Another is the bureaucracy that is involved in acquiring a patent. At the end of the day, this makes the research gather dust on the shelf without adequate effort being made on it .

As a way of mitigating these problems, university dons have stressed the need for funding of research innovations, encouraging appropriate organs of the institutions to have units for innovations and that evolving a clear cut policy on such meaningful research would impact positively on the society.

A Professor of Geography and Dean, Faculty of Social Sciences, Lagos State University (LASU), Ojo, Professor Ayo Omotayo told THISDAY that researches are meant to solve problems or aimed at finding better ways of doing things by bringing new products and services into being. “It must reflect the society in which it operates. Stakeholders are supposed to be carried along because they should be the final consumers of research output.

So, the only way is for researches to be based on those things that would be of direct benefit to the society. If you do that, you would have people waiting to consume the outcome of your research.

He however expressed concern about patenting innovations in the country’s ivory towers saying that products should be locked down for innovation even before the final outputs are perfected and that rooms should be made for reversal, such that if output fails, there would be prescribed outcomes . “That is what is called patent pending,� he said.

Evolving a clear cut policy Omotayo affirmed that this requires that universities must look for ways or means of relying less on government for research funding, adding, “there are several other research funding entities that universities can approach for funding . If I were running a university, I would pull resources in our best areas of strength and hopefully get to a level where we can acquire a patent that could give the needed breakthrough.�

Asked how institutions can bridge the gap between the town and the gown for the development of research in the country , the director said, “we need to consider the gown as stakeholders whose needs should be the focus of the researches in the first place . If we can achieve that , it means the outcome of researches would have ready off takers.

For me, researches should be not be

The Minister of Education, Mallam Adamu Adamu

theoretical only, it should administer to the needs and challenges of the town.�

The Vice-Chancellor of LASU, Professor Olarenwaju Fagbohun said his institution had recently inaugurated a directorate of research and innovations, designed to foster impactful research work with the business community.

He appealed to the directorate to focus on innovation and patent, saying , “We must have a patent . We want to sit with the industries and discuss with them the commercialisation of the solutions we have provided.�

Former Executive Secretary of National Universities Commission (NUC), Professor Peter Okebukola said it is on account of research carried out that will make universities either a leader or a follower, adding, “ you must talk about funding and how it is acquired to carry out research and evolve clear cut policies on research and innovations.�

Former Vice Chancellor of Ondo State University of Science and Technology (OSUSTEC), Okitipupa, Professor Tolu Odugbemi said research should not be viewed with trepidation rather it should be seen as part of finding solutions through simple , reliable and repeatable methods to challenges and humans can encounter in life changing scenes.

He also stressed the need for research funding especially at the tertiary education level saying that it is vital for good output that will be relevant to

societal needs.

He recalled his research activities carried out in collaboration with outstanding students, scholars, colleagues and remarkable teachers saying that most of them were published in reputable journals , aside attracting local, national and international awards, led to invention for the cure of certain diseases in the country. “At the College of Medicine of the University of Lagos, my outstanding teachers; Professor Oladeinde Dosumu Ogunbi and Professor Deji Femi Pearse , who were my supervisors sustained my interest in research in topics like diarrhea diseases and pathogens, streptococcal infections, and nosocomial infections.

Many research publications on reputable peer-reviewed journals emerged from these studies. “My research works at the University of Sheffield , United Kingdom from 1976 to 1978 under the supervision of my eminent teachers; Professor Michael McEntegart and Dr. Anthony Jephcott of the Centre on Sexually Transmitted Infection/diseases, Neisseria gonorrhea and Betalactamases, les to my doctoral degree and publications of top -rated articles in high ranking journals contributing to various studies, knowledge and inventions over the years.� Odugbemi who was also the former Vice-Chancellor of University of Lagos stressed.

Research at all levels, the don said, should be encouraged, maintained and sustained, adding, “focus, integrity, courage, perseverance and passion are important behavioral attributes for meaningful research which will impact positively on the society.�

The Vice-Chancellor of Babcock University, Ilishan-Remo, Ogun State, Professor Ademola Tayo said the quality of research carried out in his institution has made a big impact. “For instance, two of our graduates established Paystack; a safe payment system, which offers seamless money transactions between businesses and their customers. Within the first three months of this year, they had processed over N3 billion and generated about N40 billion annually for Nigerian businesses.

The company is powering over 9,000 businesses in Nigeria alone and creating about 25,000 jobs. The young graduates of the institution brought this into being with about 50 employees under the age of 35 years. You can imagine what these young people coming up with innovation and learnings will do in the next 10 years! “There is also ENACTUS Babcock, a student entrepreneurship group in the university. What they did was that they came up with solutions to check road accidents mortality through the use of alcohol detector and car demobilizer.

They also presented two smart solutions ; project gel to empower target communities and are also involved in roll back malaria project to curb malaria pandemic in some parts of Lagos State.

This project gel involves the use of organic biodegradable material, such as leaves and egg shell to make cooking gel in place of kerosene for local stoves.�

He said the institution trains its postgraduate students to be solution providers who would not just carry out research that will gather dust on the shelf. “For instance, the students went to Ijebu Ode community, looked at their critical problems and proffer solutions to it. Aside that in our agric department, they invented the integration of Arbusular Mycorrhiza fungi amd poultry manure as alternative to fertilizer in the production of vegetable in Ogun State. This project was co-founded by Adventist Development and Relief Agency (ADRA) in partnership with Babcock to the tune of $153,448. “One of our staff in Babcock University Teaching Hospital, received a research grant from the European Development Countries Clinical Trials Partnership (EDCPT) to solve the problem of malaria among pregnant women. The EDCPT career development fellowship is worth 85,875 Euros. There are lots of researches going on here. But these researches are not esoteric but rather they are that which will impact our society and provide solutions. As I talk to you now, we have 30 of our research that we want to patent. Once it is patented, the implication of that is that it is going to have wider impact on people.�

33

T H I S D AY Ëž ÍŻÍłËœ Í°ÍŽÍŻÍś

EDUCATION

OAU Blames Non-accreditation of Law, Dentistry, Others on NUC Yinka Kolawole in Osogbo Obafemi Awolowo University OAU, Ile-Ife has blamed the denial of the institution accreditation of some courses on the National University Commission’s existing regulation that does not allow for back to back interim status.

It would be recalled that Joint Admissions and Matriculation Board

(JAMB) had recently announced that OAU candidates who applied to study Law, Dentistry, Fine and Applied Arts, Botany and Family Nutrition and Consumer Sciences for the 2018/2019 academic session should either change course or university due to non-accreditation by the National Universities Commission (NUC).

A statement released to THISDAY by the Public

Relations Officer of the institution, Mr. Abiodun Olanrewaju noted that OAU and other affected institutions were denied accreditation because of the existing NUC regulation which does not allow for back to back interim status.

He posited that the general accreditation exercise was conducted across all universities in December, 2017 and the

non-accreditation of some programmes cut across all universities and is not peculiar to OAU. “There are 106 programmes in the university of which the five mentioned above have issues with accreditation. Although all these programmes actually had interim status during the last exercise. “The university management is working assidu-

ously to address the issues raised by the NUC. It therefore has no doubt that the affected programmes will be restored hopefully in the forthcoming accreditation exercise slated for November, 2018. We hereby use this medium to officially appreciate the Tertiary Education Trust Fund (TETfund) for the prompt release of funds to upgrade the existing structures and facilities

in the University. “We appreciate the concern of all stakeholders, particularly parents/ guardians and prospective students on this development and plead for their understanding.�

He stressed that the institution will continue to do all within its power to uphold and build upon the academic excellence for which the University is known.

Foundation Eyes Partnership with FUNAAB An International Foundation, specialized in driving job creation through entrepreneurship, skills development and innovation, The Wadhwani Foundation has indicated interest in the training and development of students of Federal University of Agriculture Abeokuta (FUNAAB), through entrepreneurial drive and training.

Speaking about the Foundation and its benefits to FUNAAB with the Director, Centre for Entrepreneurial Studies (CENTS) and his team, during a visit to the institution , the Executive VicePresident of the Foundation, Sunita Singh noted that aside facilitating high-quality job creation through entrepreneurship, skills development and innovation; it also inspires, educates and supports student entrepreneurs, startups and SMEs. She added that the foundation runs hyper-growth business accelerators, for growth startups and SMEs as well as empowers non-college-bound graduates with work-skills to command family support wages.

The Director of CENTS, Professor Babatunde Adewumi later led a two-man team from the foundation to FUNAAB companies, where they toured the bakery and the Cassava Processing Factory. “Wadhwani’s concept is

that you can grow business and employ people, which they aim to achieve with FUNAAB students,� he said.

In another development, The Vice-Chancellor, Federal University of Agriculture Abeokuta (FUNAB), Professor Kolawole Salako, recently commissioned and handed over the College of Food Science and Human Ecology (COLFHEC) phase II to the College for use.

Speaking at the commissioning ceremony, held recently, Salako expressed joy and satisfaction at the quality of work done and the readiness of the building for use.

He said having additional infrastructure would always improve the situation of things on campus. “There are sufficient offices for professors, other lecturers and non-teaching staff. Also, the offices designed for the professors are befitting and of standard, � he said, pointing out that while the construction was on-going, they were able to improve on the plan and the specifications as a result of which a standard building was constructed for the college.�

He observed that the building will enhance teaching and research because of the laboratories put in place and a conducive environment for both lecturers and other staff to function.

Tech-U Emerges First Technical Varsity Following the passage into law of a recent amendment to the 2012 Law setting up the Technical University, Ibadan by the Oyo State House of Assembly, the university has now been renamed the first Technical University, Ibadan (TechU).

The amendment however does not in any way affect the current status of the institution as a wholly public-owned university.

The Spokesperson of the institution, Mr. Femi Babatunde in a statement said being Nigeria’s pioneer technical university, the addition of the word ‘first’ to the former rendering of the university’s name is deemed necessary to reassert its unique leadership position in the nation’s tertiary education space and beyond.

The statement reads in part; “ the recent

amendment provides legal authority for Tech-U to receive grants and to enter into partnerships with public or private sources, other than the Oyo State government. “Consequently, Tech-U may now solicit and invite private partners to invest in the university, its programmes and objectives.�

The management of the institution reassures the public that the name-change willl not compromise its avowed commitment to running a unique university committed to producing relevant researches and nurturing graduates equipped with adequate technical skills for societal transformation. “Prospective investors are therefore free to approach the university management wherever they are willing to come in.�

A cross section of fellows of the Nigerian Academy of Letters (NAL) during their investiture and 20th convocation ceremony held at the University of Lagos, Akoka‌recently

Restructuring Nigeria will Ogun Gets Semi-Final Curb Lopsidedness in Varsity Tickets in 2018 Cowbellpedia Admission, Employment, Maths TV Quiz Show Says Oyeweso The mental fireworks for optimism about qualifying Funmi Ogundare Professor of History and Director, Centre for Black Culture and International Understanding, Osogbo, Osun State, Siyan Oyeweso has called for restructuring of the country saying it will curb the lopsidedness in employment and admission into universities nationwide.

Oyeweso who made this call , recently, while delivering the 20th convocation lecture titled, Plural Loyalties and Multiple Identities in Post-Independence Nigeria’, of the Nigerian Academy of Letters (NAL) at the University of Lagos, expressed concern that ethnic or tribal cleansing has created a scenario where misfits or average are traded for merits, resulting in lack of square pegs in a round hole.

According to him, “ Be it a state or federal university, it is an uphill task for a non indigene to aspire for the top office however brilliant he or she is. In any state university today, it is difficult for any non indigene to aspire to the positing of a vice chancellor or registrar if he is not from that state.

What we have done in Nigeria is to indegenise or ‘villagised’ the

appointment of top principal officers. “Even in federal universities, the scenario is the same. If you are not from a geo-political zone where the university is located, you cannot become a VC; and that began since 1979.�

The university don expressed concern that the standard of appointing vice-chancellors in the country has been betrayed saying, , “universities are international in concept and scope. Management of a university can decide to hire their vice chancellor from the United Kingdom or the United State of America. They can even advertise using the best journal. But today, the national or international standard has been betrayed. Even the appointment process is already skewed against non-indigenes. “I know of a university in Nigeria where 90 per cent of the workers and 95 per cent of students are from that state.

Appointments and admissions are allocated on the basis of local governments. They call it ‘state character’ or ‘federal character’ if its federal place, or use other nomenclatures like catchment areas and so on.�

2018 Cowbellpedia secondary school Mathematics Television quiz show commenced last weekend with Ogun State representatives grabbing the first semi-final tickets of the competition, sponsored by Cowbell Milk.

This year’s edition marks the 20th anniversary of Cowbell and Mathematics in Nigeria.

In the junior category preliminary group A contest , Loluwa Abiodun and Akinfoluhan Akinleye, both of The Ambassadors College, Ota, Ogun State progressed from the preliminary stage to the semi-finals.

The duo survived the stiff challenge from Victor Dimas of Federal Government College, Ugwolawo, Kogi, State; Tobiloba Akinwande of Greater Tomorrow International Ciollege, Arigidi-Akoko, Ondo State; Princewill Olalekan of St. Paul Comprehensive Secondary School, Bauchi, Bauchi State; and Ali Uchechukwu Michael of Federal Government Academy, Suleja, Niger State.

Akinfoluhan recorded 95 per cent in the qualifying examination and pulled 150 points in the second round.

He described his experience as exciting and expressed

for the final and ultimately win the star prize. “I feel very happy to scale the hurdle, especially being my first time of participating in the competition. I hope to get to the final. I have done a lot of prayers and practice,� he said.

Loluwa, 13, had scored 96 per cent in the qualifying examination and amassed 130 points in the second round. The daughter of a college principal, who aspires to become an Architect, hopes to win the ultimate prize and make her family and state proud.

In the senior category, Joshua Mark of Nigerian Christian Institute, Uyo, Akwa Ibom State; and Nafisat Abdulwaheed of Reality High School, Ilesha, Osun State survived one tie-break in the first and second rounds to advance to the semi-finals.

In the process, they edged out four other contestants.

These were: Esther Ajani of NOWA Secondary School, Lafia, Nasarawa State; Ishaq Ibrahim of Caliphate International Schools, Gusau, Zamfara State; Egbunu Jude Idoko of St. Peters College, Idah, Kogi State and Gift Ike, Federal Government College, Owerri, Imo State.

34

T H I S D AY Ëž ÍŻÍłËœ Í°ÍŽÍŻÍś

Ooni Donates Home to Less Privileged, Pledges Quality Education Funmi Ogundare Tears flowed freely, as the Ooni of Ife, His Imperial Majesty Oba Adeyeye Ogunwusi, recently donated a new well equipped building with education and health facilities to Oluwakemi Orphanage Home, Omit-Adios, Ibadan, under his ‘Hopes Alive’ initiative.

Before the intervention, the home which housed about 30 children was reported to be unkempt and unfit for living.

The Deputy Chief Convener of Hopes Alive Initiatives of the Ooni of Ife, Miss Temitope Adesegun said the intervention was to give Oluwakemi Orphanage Home a new beginning after she and her team visited the former home and discovered

that the place was unhealthy for the children to live in.

According to her, “I was really depressed seeing the children, about 30 of them living in such unhealthy environment that attracts sicknesses and all forms of diseases, so I decided to report the case to the Ooni for urgent action. “I told the Ooni that their case was beyond revamping or renovating the former house that it is better we give them a new start and he authorized me to do what I feel would be befitting for the children, make them happy and give them a new life. Hence this new house, fully furnished with educational materials and playing ground for the children to learn and play.�

She promised that members of the Hopes Alive initiative will

continue to check up on them, supply them with food, books and other education facilities, as well as come with the medical team to check their well being.

Adesegun said the dream and vision of Oba Ogunwusi is to live for humanity by putting smiles on their faces, adding that her desire is to ensure that children have access to quality education irrespective of their ethnic, religious or family background.

She called for support from well meaning Nigerians and organizations saying that there are many more children living under such conditions that needed help.

The deputy chief convener said such move will make the country a better place since the children are the leaders of

tomorrow.

In an emotional tone, ‘the Coordinator of the Home, Mrs. Victoria Adeleke described the intervention as a miracle saying since she started operating the home, she has never received such a surprise and that there had been days when she and the children starved and only looked unto God for divine provision. “I see this as the prophecy of God coming into fulfillment through the Ooni of Ife, God spoke to me after calling me into this orphanage ministry that He would visit us with a big surprise some day, I never expected this type of miracle, it’s beyond my imagination and I pray for the Ooni that God will grant all his heart desires and give him long life,� she said.

The Deputy Chief Convener of Hopes Alive Initiatives of the Ooni of Ife, Miss Temitope Adesegun showing the Coordinator of Oluwakemi Orphanage Home, Mrs. Victoria Adeleke an education material donated to the home in Ibadan, Oyo State‌ recently

WASSCE 2018 Excellent Performance ConďŹ rms Caleb’s Standard The Proprietor of Caleb British International School, Lekki, Lagos, Dr. Ola Adebogun has described the 100 per cent the school recorded in the recently released West African Senior School Certificate Examination (WASSCE) results as a confirmation of its commitment to high standard of education.

Adebogun, who said this recently during the school’s 2018 valedictory service for outgoing students, stressed that the 100 per cent the students recorded in Further Mathematics, Financial Accounting, French and Yoruba and distinctions in English Language, Mathematics, Physics, Chemistry, Biology and other subjects confirmed the school’s

core objective of ensuring the production of quality students that would contribute positively to national growth.

He said the feat was achieved with the concerted efforts of both the academic and non-academic staff of the school who were committed not only to the educational development and well-being of the students,but also the production of quality manpower and capacity building for national advancement.

Adebogun, who appraised the achievements of the school since its take-off in 1986, said its enviable record was a step in the right direction, attributing the achievements to the quality of staff and facilities in the school.

Adebogun further disclosed that

the school has made continuous professional development mandatory for the staff to ensure that they consistently work hard to remain relevant to the system as well as engineering the culture of encouraging the students to aspire to greater heights and be agents of change in the society.

The Director/CEO, Caleb Group of Schools explained that the beauty of the 100 per cent results was the fact that since the establishment of the school, it had always recorded 100 per cent success in all external examinations and inter-school competitions like debate, quiz, essay writings, etc.

He commended the students for making him proud with

their consistency of excellent performance in all WAEC and Cambridge conducted examinations.

The visitor to Caleb University, Imota, Lagos assured parents, students and the Nigerian academic community that Caleb British International School would continue to strive hard to sustain its record of excellence in view of the school’s array of facilities, which include halls of residence for students, location in a serene and conducive environment for learning with highly qualified and committed members of staff, well-equipped laboratories, well-ventilated classrooms, digital library and internet facility, among others.

A’Ibom Targets 2,000 Public Schools for Renovation Okon Bassey in Uyo Akwa Ibom state government says it has renovated more than 200 public schools across the 31 local government areas of the state in the last three years.

The State Commissioner for Information and Strategies, Mr. Charles Udoh disclosed

this while appearing on news generating platform of the correspondent Chapel of Nigerian Union of Journalist (NUJ), to explain the activities of the state government.

He said the decision of government to embark on aggressive building of schools across the state was to discourage the proliferation

of sub- standard private schools, adding that the Governor, Mr. Udom Emmanuel has a target of renovating about 2, 000 public schools before the end of his first team.

Udoh maintained that another 200 public schools were on-going in a phased programme meant to restore the glory days of public schools

in the state. “The renovation of public schools in the state would be done as emphasis is also being paid to the quality of teaching and teachers in the system, � he said while assuring that the on-going transformation in public schools across the state will visit as many schools as the state’s resources can carry.

WHERE IS THE DADDY IN YOU?

Ă? ĂŁĂ™Ă&#x;Ăœ Ă?ËÞÒĂ?Ăœ ĂŁĂ™Ă&#x;Ăœ ĂŽĂ‹ĂŽĂŽĂŁËŁ Ă’Ă“Ă? ÚÓĂ?Ă?Ă? Ă“Ă? Ă?Ă™Ă—Ă“Ă˜Ă‘ Ă?Ù×Ă?ĂĄĂ’Ă‹Ăž Ă–Ă‹ĂžĂ? ĂŽĂ&#x;Ă? ÞÙ ÞÒĂ? Ă?Ă&#x;ĂœĂœĂ?Ă˜Ăž Ă&#x;Ă˜ĂšĂœĂ?ĂŽĂ“Ă?ĂžĂ‹ĂŒĂ–Ă? ÚÙÖÓÞÓĂ?Ă‹Ă– Ă?ĂĄĂ“Ă˜Ă‘Ă?Ë Ă‹ĂšĂšĂŁ ĂŒĂ?Ă–Ă‹ĂžĂ?ĂŽ ËÞÒĂ?ĂœËŞĂ? Ă‹ĂŁ Ă“Ă‘Ă?ĂœĂ“Ă‹Ă˜ Ă?ËÞÒĂ?ĂœĂ?Ëœ ÒÙÚĂ? ĂŁĂ™Ă&#x; Ă‹ĂœĂ? Ă?Ă˜Ă”Ă™ĂŁĂ“Ă˜Ă‘ ÞÒĂ? Ă‘Ă‹Ă“Ă˜Ă? Ă™Ă? Ă˜Ă™Ăž ĂŒĂ?Ă“Ă˜Ă‘ Ă”Ă&#x;Ă?Ăž Ă?ËÞÒĂ?ĂœĂ?Ëœ ĂŒĂ&#x;Ăž ĂŽĂ‹ĂŽĂŽĂ“Ă?Ă?Ë› ËŠ Ă‹ĂŽĂŽĂŁËŞ Ă™Ăœ ËŠĂŽĂ‹ĂŽËŞ Ă“Ă? ÞÒĂ? Ă—Ă™ĂœĂ? Ă“Ă˜Ă?Ă™ĂœĂ—Ă‹Ă–Ëœ Ă?Ă&#x;ĂŒĂžĂ–Ă?Ëœ Ă‹Ă?Ă?Ă?Ă?ĂžĂ“Ă™Ă˜Ă‹ĂžĂ?Ëœ ĂšĂ?ĂœĂ?Ă™Ă˜Ă‹Ă–Ëœ ĂĄĂ‹ĂœĂ—Ëœ Ă–Ă“Ă Ă“Ă˜Ă‘ ĂĄĂ‹ĂŁ Ă™Ă? ĂœĂ?Ă?Ă?ĂœĂœĂ“Ă˜Ă‘ ÞÙ Ă™Ă˜Ă?ËŞĂ? Ă?ËÞÒĂ?Ăœ Ă™Ăœ Ă?Ă&#x;ĂœĂœĂ™Ă‘Ă‹ĂžĂ? Ă?ËÞÒĂ?ĂœË› Ă’Ă? ĂžĂ?Ă‹Ă?Ă’Ă?Ăœ Ă“Ă˜ Ă—Ă? Ă“Ă? Ă‹ Ă Ă?ĂœĂŁ Ă“Ă˜Ă›Ă&#x;Ă“Ă?ÓÞÓà Ă? Ă™Ă˜Ă?Ë› Ăž Ă“Ă? ÑÙÙÎ ÞÙ Ă•Ă˜Ă™ĂĄ ÞÒĂ? ĂĄĂ’ĂŁĂ? Ă™Ă? ĂžĂ’Ă“Ă˜Ă‘Ă? Ă‹Ă˜ĂŽ Ă?Ù×Ă?ÞÓ×Ă?Ă? Ě™ĂŒĂ&#x;Ăž Ă?Ă?ĂœĂžĂ‹Ă“Ă˜Ă–ĂŁ Ă˜Ă™Ăž Ă‹Ă–ĂĄĂ‹ĂŁĂ?Ěš ĂŁĂ™Ă&#x; ĂĄĂ“Ă–Ă– Ă‘Ă‹Ă“Ă˜ Ă‹Ă˜ Ă&#x;Ă˜ĂŽĂ?ĂœĂ?ĂžĂ‹Ă˜ĂŽĂ“Ă˜Ă‘ Ă™Ă? Ă“Ă?Ă?Ă&#x;Ă?Ă?Ë› Ă’Ă? Ă‹Ă‘Ă?Ă–Ă?Ă?Ă? ĂžĂœĂ&#x;ÞÒ ĂœĂ?Ă›Ă&#x;Ă“ĂœĂ?Ă? ÞÒËÞ ĂĄĂ? ËŤĂ‘Ă“Ă Ă? ËÞÞĂ?Ă˜ĂžĂ“Ă™Ă˜ ÞÙ Ă•Ă˜Ă™ĂĄ Ă&#x;Ă˜ĂŽĂ?ĂœĂ?ĂžĂ‹Ă˜ĂŽĂ“Ă˜Ă‘Ëž Ă&#x;Ă˜ĂŽĂ?ĂœĂ?ĂžĂ‹Ă˜ĂŽĂ“Ă˜Ă‘ ĂĄĂ“Ă–Ă– Ă•Ă?Ă?Ăš ĂŁĂ™Ă&#x;ËŹË› Ă’Ă‹Ăž Ă“Ă? ËÞÒĂ?ĂœËŞĂ? Ă‹ĂŁ Ă‹Ă˜ĂŽ ÒÙå ĂŽĂ“ĂŽ Ă“Ăž Ă?ĂžĂ‹ĂœĂžËŁ ËÞÒĂ?ĂœËŞĂ? Ă‹ĂŁ Ă?Ă?Ă–Ă?ĂŒĂœĂ‹ĂžĂ?Ă? Ă?ËÞÒĂ?ĂœĂ’Ă™Ă™ĂŽ Ă‹Ă˜ĂŽ Ă—Ă‹Ă–Ă? ĂšĂ‹ĂœĂ?Ă˜ĂžĂ“Ă˜Ă‘Ëž Ă“Ăž ĂœĂ?Ă?Ă™Ă‘Ă˜Ă“Ă¤Ă?Ă? Ă‹Ă˜ĂŽ Ă’Ă™Ă˜Ă™Ă&#x;ĂœĂ? Ă?ËÞÒĂ?ĂœĂ?Ëœ Ă“Ăž Ă“Ă? Ă‹ ĂŽĂ‹ĂŁ ÞÙ ĂœĂ?Ă?Ă–Ă?Ă?Ăž Ă™Ă˜ Ă‹ Ă?ËÞÒĂ?ĂœËŞĂ? Ă“Ă˜Ă?Ă–Ă&#x;Ă?Ă˜Ă?Ă? Ă“Ă˜ Ă’Ă“Ă? ÒÙ×Ă?Ëœ Ă‹Ă? ĂĄĂ?Ă–Ă– Ă‹Ă? Ă?ËÞÒĂ?ĂœËŞĂ?Ă“Ă˜Ă?Ă–Ă&#x;Ă?Ă˜Ă?Ă? Ă“Ă˜ Ă‘ĂœĂ™Ă&#x;ĂšĂ?Ëœ Ă?Ù××Ă&#x;Ă˜Ă“ĂžĂ“Ă?Ă? Ă‹Ă˜ĂŽ Ă“Ă˜ ÞÒĂ? Ă˜Ă‹ĂžĂ“Ă™Ă˜Ë› Ăž Ă“Ă? Ă‹Ă˜ Ă‹Ă˜Ă˜Ă&#x;Ă‹Ă– Ă?Ă?Ă–Ă?ĂŒĂœĂ‹ĂžĂ“Ă™Ă˜ ÞÒËÞ Ă—Ă‹Ă˜ĂŁ Ă?Ă™Ă&#x;Ă˜ĂžĂœĂ“Ă?Ă? Ă™ĂŒĂ?Ă?ĂœĂ Ă? Ă™Ă˜ ÞÒĂ? ĂžĂ’Ă“ĂœĂŽ Ă&#x;Ă˜ĂŽĂ‹ĂŁ Ă™Ă? Ă&#x;Ă˜Ă?Ëœ ËÖÞÒÙĂ&#x;Ă‘Ă’ ÙÞÒĂ?Ăœ Ă?Ă™Ă&#x;Ă˜ĂžĂœĂ“Ă?Ă? Ă‹Ă–Ă?Ă™ Ă?Ă?Ă–Ă?ĂŒĂœĂ‹ĂžĂ? Ă“Ăž Ă™Ă˜ ÙÞÒĂ?Ăœ ĂŽĂ‹ĂŁĂ?Ë› ËÞÒĂ?ĂœËŞĂ? Ă‹ĂŁ ĂĄĂ‹Ă? Ă“Ă˜Ă‹Ă&#x;Ă‘Ă&#x;ĂœĂ‹ĂžĂ? ĂŽĂ“Ă˜ ÞÒĂ? Ă˜Ă“ĂžĂ?ĂŽ ÞËÞĂ?Ă? Ă“Ă˜ ÞÒĂ? Ă?Ă‹ĂœĂ–ĂŁ Ͱ͎ÞÒĂ?Ă?Ă˜ĂžĂ&#x;ĂœĂŁ ÞÙ Ă?Ù×ÚÖĂ?Ă—Ă?Ă˜Ăž ÙÞÒĂ?ĂœËŞĂ? Ă‹ĂŁË› Ă’Ă? Ă?Ă“ĂœĂ?Ăž ËÞÒĂ?ĂœËŞĂ? Ă‹ĂŁ ĂĄĂ‹Ă? Ă’Ă?Ă–ĂŽ Ă™Ă˜ Ă&#x;Ă˜Ă? ÍŻÍŽËœ ͎ͯͯ͡ Ă“Ă˜ ĂšĂ™Ă•Ă‹Ă˜Ă?Ëœ Ă‹Ă?Ă’Ă“Ă˜Ă‘ĂžĂ™Ă˜ Ă‹Ăž ÞÒĂ? Ë› Ăž ĂĄĂ‹Ă? Ă?Ă?Ă–Ă?ĂŒĂœĂ‹ĂžĂ?ĂŽ Ă?Ă™Ă–Ă–Ă™ĂĄĂ“Ă˜Ă‘ Ă‹ Ă?Ă‹Ă—ĂšĂ‹Ă“Ă‘Ă˜ Ă?Ă™Ăœ Ă“Ăž ĂŒĂŁ Ă™Ă˜Ă™ĂœĂ‹ Ă—Ă‹ĂœĂž Ă™ĂŽĂŽËœ ĂĄĂ’Ă™Ă?Ă? Ă™ĂĄĂ˜ ×ÙÞÒĂ?Ăœ Ă’Ă‹ĂŽ ĂŽĂ“Ă?ĂŽ Ă?Ă‹ĂœĂ–Ă“Ă?Ăœ Ă‹Ă˜ĂŽ Ă’Ă?Ăœ Ă?ËÞÒĂ?Ăœ Ă’Ă‹ĂŽ ĂœĂ‹Ă“Ă?Ă?ĂŽ ÞÒĂ?Ă“Ăœ Ă?Óâ Ă?Ă’Ă“Ă–ĂŽĂœĂ?Ă˜ Ă‹Ă–Ă™Ă˜Ă?Ë› Ă™Ă˜Ă™ĂœĂ‹ ÙÎÎ Ă?Ă?Ă–Ăž ×Ùà Ă?ĂŽ ÞÙ Ă’Ă™Ă˜Ă™Ă&#x;Ăœ Ă’Ă?Ăœ Ă?ËÞÒĂ?Ăœ Ă‹Ă˜ĂŽ Ă?ËÞÒĂ?ĂœĂ? Ă?Ă Ă?ĂœĂŁĂĄĂ’Ă?ĂœĂ? åÓÞÒ Ă‹ Ă?ĂšĂ?Ă?Ă“Ă‹Ă– ĂŽĂ‹ĂŁË› Ă’Ă? Ă?Ă™Ă˜ĂžĂ“Ă˜Ă&#x;Ă?ĂŽ ÞÙ ĂšĂ&#x;Ă?Ă’ Ă?Ă™Ăœ ÞÒĂ? ĂœĂ?Ă?Ă™Ă‘Ă˜Ă“ĂžĂ“Ă™Ă˜ Ă™Ă? ËÞÒĂ?ĂœËŞĂ? ĂŽĂ‹ĂŁ Ă˜Ă‹ĂžĂ“Ă™Ă˜Ă‹Ă–Ă–ĂŁË› Ă Ă?Ă˜ĂžĂ&#x;Ă‹Ă–Ă–ĂŁËœ Ă‹ ĂŒĂ“Ă–Ă– ÞÙ Ă‘Ă“Ă Ă? ÞÒĂ? Ă?Ă?Ă–Ă?ĂŒĂœĂ‹ĂžĂ“Ă™Ă˜ Ă˜Ă‹ĂžĂ“Ă™Ă˜Ă‹Ă– ĂœĂ?Ă?Ă™Ă‘Ă˜Ă“ĂžĂ“Ă™Ă˜ ĂĄĂ‹Ă? Ă“Ă˜ĂžĂœĂ™ĂŽĂ&#x;Ă?Ă?ĂŽ Ă“Ă˜ ÞÒĂ? Ă?Ă™Ă˜Ă‘ĂœĂ?Ă?Ă? Ă“Ă˜ ͯͯ͡͹˛ Ă?Ă Ă?ĂœĂ‹Ă– ĂŽĂ?Ă?Ă‹ĂŽĂ?Ă? Ă‹Ă?ĂžĂ?Ăœ ÞÒÓĂ?Ëœ ÞÒĂ? ĂŽĂ?ĂŒĂ‹ĂžĂ? ÞÙ Ă?Ă™ĂœĂ—Ă‹Ă–Ă–ĂŁ Ă‹Ă˜ĂŽ Ă˜Ă‹ĂžĂ“Ă™Ă˜Ă‹Ă–Ă–ĂŁ ĂœĂ?Ă?Ă™Ă‘Ă˜Ă“Ă¤Ă? ÞÒĂ? ĂŽĂ‹ĂŁ ĂĄĂ?Ă˜Ăž Ă™Ă˜ ÞÓÖÖ Ă“Ă˜ ͯ͡ʹʹ˛ ĂœĂ?Ă?Ă“ĂŽĂ?Ă˜Ăž ĂŁĂ˜ĂŽĂ™Ă˜ Ë› Ă™Ă’Ă˜Ă?Ă™Ă˜ Ă“Ă?Ă?Ă&#x;Ă?ĂŽ ÞÒĂ? Ă?Ă“ĂœĂ?Ăž ĂšĂœĂ?Ă?Ă“ĂŽĂ?Ă˜ĂžĂ“Ă‹Ă– ĂšĂœĂ™Ă?Ă–Ă‹Ă—Ă‹ĂžĂ“Ă™Ă˜ Ă’Ă™Ă˜Ă™Ă&#x;ĂœĂ“Ă˜Ă‘ Ă?ËÞÒĂ?ĂœĂ? Ă‹Ă˜ĂŽ ÞÒĂ?Ă˜ ĂŽĂ?Ă?Ă“Ă‘Ă˜Ă‹ĂžĂ?ĂŽ ÞÒĂ? ĂžĂ’Ă“ĂœĂŽ Ă&#x;Ă˜ĂŽĂ‹ĂŁ Ă“Ă˜ Ă&#x;Ă˜Ă? Ă‹Ă? ËÞÒĂ?ĂœËŞĂ? Ă‹ĂŁË› Óâ ĂŁĂ?Ă‹ĂœĂ? Ă–Ă‹ĂžĂ?ĂœËœ ÞÒĂ? ĂŽĂ‹ĂŁ ĂĄĂ‹Ă? Ă—Ă‹ĂŽĂ? Ă‹ ĂšĂ?ĂœĂ—Ă‹Ă˜Ă?Ă˜Ăž Ă˜Ă‹ĂžĂ“Ă™Ă˜Ă‹Ă– ÒÙÖÓÎËã ĂĄĂ’Ă?Ă˜ ĂœĂ?Ă?Ă“ĂŽĂ?Ă˜Ăž Ă“Ă?Ă’Ă‹ĂœĂŽ Ă“Ă˘Ă™Ă˜ Ă?Ă“Ă‘Ă˜Ă?ĂŽ Ă“Ăž Ă“Ă˜ĂžĂ™ Ă–Ă‹ĂĄ Ă“Ă˜ ͯ͡;Ͱ˛ Ă˜ Ă‹ĂŽĂŽĂ“ĂžĂ“Ă™Ă˜ ÞÙ ËÞÒĂ?ĂœËŞĂ? Ă‹ĂŁËœ Ă˜ĂžĂ?ĂœĂ˜Ă‹ĂžĂ“Ă™Ă˜Ă‹Ă– Ă?Ă˜ËŞĂ? Ă‹ĂŁ Ă“Ă? Ă?Ă?Ă–Ă?ĂŒĂœĂ‹ĂžĂ?ĂŽ Ă“Ă˜ Ă—Ă‹Ă˜ĂŁ Ă?Ă™Ă&#x;Ă˜ĂžĂœĂ“Ă?Ă? Ă™Ă˜ Ùà Ă?Ă—ĂŒĂ?Ăœ ͯ͡ Ă?Ă™Ăœ Ă—Ă?Ă˜ Ă‹Ă˜ĂŽ ĂŒĂ™ĂŁĂ? ĂĄĂ’Ă™ Ă‹ĂœĂ? Ă˜Ă™Ăž Ă?ËÞÒĂ?ĂœĂ?Ë› Ă™Ăœ Ă‹ ĂĄĂ?Ă?Ă• Ă–Ă?Ă‹ĂŽĂ“Ă˜Ă‘ ÞÙ ËÞÒĂ?ĂœËŞĂ? Ă‹ĂŁËœ Ă‹Ă?Ă•Ă?ĂŽ ĂšĂ?ÙÚÖĂ? ĂœĂ‹Ă˜ĂŽĂ™Ă—Ă–ĂŁËœ Ă“ĂœĂœĂ?Ă?ĂšĂ?Ă?ÞÓà Ă? Ă™Ă? Ă?ÙÖÙĂ&#x;ĂœËœ Ă‹Ă‘Ă? Ă‹Ă˜ĂŽ ĂœĂ?Ă–Ă“Ă‘Ă“Ă™Ă˜ ÞÒĂ?Ă“Ăœ ÞÒÙĂ&#x;Ă‘Ă’ĂžĂ? Ă‹ĂŒĂ™Ă&#x;Ăž ÞÒĂ?Ă“Ăœ Ă?ËÞÒĂ?ĂœĂ?Ë› Ă?ĂœĂ? Ă‹ĂœĂ? Ă?Ù×Ă? ĂšĂ?ÙÚÖĂ?ËŞĂ? Ă?Ù××Ă?Ă˜ĂžĂ?Ë? ËŤ Ă?Ă™Ă&#x;Ă–ĂŽĂ˜ËŞĂž Ă–Ă“Ă Ă? åÓÞÒÙĂ&#x;Ăž Ă—ĂŁ ĂŽĂ‹ĂŽËœ Ă’Ă?ËŞĂ? ĂĄĂ™Ă˜ĂŽĂ?ĂœĂ?Ă&#x;Ă–ËŹË› ËŤ ĂŁ ĂŽĂ‹ĂŽËŁ Ă&#x;Ă— ĂĄĂ™Ă˜ËŞĂž ĂžĂ?Ă–Ă– Ă—Ă? ÞÒĂ? ĂžĂœĂ&#x;ÞÒˏ˛ ËŤ ĂŁ Ă?ËÞÒĂ?Ăœ ĂĄĂ‹Ă? Ă?Ă Ă?ĂœĂŁĂžĂ’Ă“Ă˜Ă‘ ÞÙ Ă—Ă?Ëœ Ă’Ă?ËŞĂ? Ă‘Ă™Ă˜Ă? Ă˜Ă™ĂĄËœ ÙÎ ĂœĂ?Ă?Ăž Ă’Ă“Ă? Ă?Ă™Ă&#x;Ă–ËŹË› ËŤ ĂŁ Ă—Ă&#x;Ă— Ă“Ă? Ă?Ă™ Ă’Ă‹ĂœĂŽ Ă™Ă˜ Ă’Ă“Ă—Ë ĂĄĂ“Ă?Ă’ Ă’Ă? Ă?Ă™Ă&#x;Ă–ĂŽ ÞÙĂ&#x;Ă‘Ă’Ă?Ă˜ Ă&#x;ĂšË ËŹ ËŤ ĂŁ ĂŽĂ‹ĂŽ Ă“Ă? Ă‹ ĂœĂ‹Ă˜ĂŽĂŁ ÙÖÎ ĂŽĂ?Ă Ă“Ă– ËŠ ĂžĂ’Ă“Ă˜Ă•Ă? Ă’Ă?ËŞĂ? Ă?ÞÓÖÖ ÍŻÍ´Ëť ËŤ ĂŁ ĂŽĂ‹ĂŽ Ă“Ă? Ă–Ă‹Ă¤ĂŁËœ Ă•Ă“Ă˜ĂŽ Ă™Ă? ÞÙÙ Ă–Ă‹Ă“ĂŽ ĂŒĂ‹Ă?Ă•ËŹË› ËŤ ĂŁ Ă?ËÞÒĂ?Ăœ Ă“Ă? Ă—ĂŁ ĂœĂ™Ă–Ă? ×ÙÎĂ?Ă–Ëœ Ă—ĂŁ Ă’Ă?ĂœĂ™Ëœ Ă’Ă? Ă?ÓâĂ?Ă? Ă?Ă Ă?ĂœĂŁĂžĂ’Ă“Ă˜Ă‘Ë› ËŞĂ— Ă–Ă&#x;Ă?Ă•ĂŁËœ Ă•Ă˜Ă™ĂĄ Ă‹Ă—ËŹË› ËŤ Ă? ĂŒĂ?Ă‹Ăž Ă&#x;Ăš Ă—ĂŁ Ă—Ă&#x;Ă— Ă‹Ă–Ă– ÞÒĂ? ÞÓ×Ă?Ëœ Ă’Ă‹ĂžĂ? Ă’Ă“Ă—ËŹË› ËŤ ĂŁ Ă?ËÞÒĂ?Ăœ ĂŽĂ“Ă?ĂŽ Ă™Ă˜ Ă’Ă“Ă? ĂĄĂ‹ĂŁ ÞÙ Ă Ă“Ă?Ă“Ăž Ă—ĂŁ Ă?Ă“Ă?ĂžĂ?Ăœ Ă“Ă˜ Ă?Ă?ÒÙÙÖ ĚŽ Ă‹ ĂœĂ™Ă‹ĂŽ Ă‹Ă?Ă?Ă“ĂŽĂ?Ă˜ĂžË› Ăž Ă?Ă?Ă?Ă–Ă? Ă–Ă“Ă•Ă? ĂŁĂ?Ă?ĂžĂ?ĂœĂŽĂ‹ĂŁË›Ë›ËŹ Ëť Ă“Ă˜Ă? ĂŽĂœĂ‹Ă˜Ă• Ă’Ă“Ă—Ă?Ă?Ă–Ă? Ă?Ă?Ă˜Ă?Ă?Ă–Ă?Ă?Ă?Ë Ăž Ă“Ă? Ă‹ ĂĄĂ‹Ă?ĂžĂ? Ă™Ă? ÞÓ×Ă? ÞÙ ĂžĂ’Ă“Ă˜Ă• Ă™Ă? ÞÒÙĂ?Ă? ÞÓ×Ă?Ă?ËŹË› ËŤ ĂŁ Ă’Ă&#x;Ă?ĂŒĂ‹Ă˜ĂŽ Ă“Ă? Ă—ĂŁ ĂŽĂ‹ĂŽËœ Ă—Ă“Ă˜Ă? ĂĄĂ‹Ă?Ă˜ËŞĂž Ă‹ Ă?ËÞÒĂ?ĂœËŹË› ËŤ Ă?ËŞĂ? Ă–Ă?Ă?Ăž Ă—Ă? Ă?Ă™ Ă—Ă&#x;Ă?Ă’Ëœ ĂĄĂ™ĂœĂ•Ă?ĂŽ Ă‹Ă–Ă– Ă’Ă“Ă? Ă–Ă“Ă?Ă? Ă‹Ă˜ĂŽ ĂĄĂ?Ă˜Ăž ÞÙÙ Ă?Ă‹ĂœĂ–ĂŁËŹË› ËŤ Ă? ÞËÕĂ?Ă? Ă—Ă? ÞÙ ÞÒĂ? ĂšĂ‹ĂœĂ• Ă‹Ă˜ĂŽ Ă–Ă?ĂžĂ? Ă—Ă? ĂœĂ“ĂŽĂ? Ă™Ă˜ Ă’Ă“Ă? ĂŒĂ‹Ă?Ă•Ë› ÖÙà Ă? Ă—ĂŁ ĂŽĂ‹ĂŽĂŽĂŁËŹË› ËŤ Ă&#x;Ă— Ă“Ă? ĂŽĂ‹ĂŽ Ă‹Ă˜ĂŽ ĂŽĂ‹ĂŽ Ă“Ă? Ă—Ă&#x;Ă—Ë› ËŞĂ— Ă?Ă™Ă˜Ă?Ă&#x;Ă?Ă?ĂŽË ËŹË› ËŤ ĂĄĂ“Ă?Ă’ Ă—Ă“Ă˜Ă? ĂĄĂ‹Ă? Ă—ĂŁ Ă˜Ă?Ă“Ă‘Ă’ĂŒĂ™Ă&#x;ĂœËŞĂ? ĂŽĂ‹ĂŽË ËŹË› ËŤ Ă? Ă’Ă‹Ă? Ă—Ă™ĂœĂ? åÙ×Ă?Ă˜ ĂžĂ’Ă‹Ă˜ Ă?Ă™Ă—Ă—Ă™Ă˜Ă?Ă?Ă˜Ă?Ă?Ë ËŹ ËŤ Ă? Ă?Ă’Ă™Ă&#x;ĂžĂ?ĂŽ Ă‹Ăž Ă&#x;Ă?Ëœ Ă‹Ăž Ă?Ă Ă?ĂœĂŁ Ă™Ă˜Ă? ÞÒËÞ ĂĄĂ‹Ă? Ă‹Ă–Ă– Ă’Ă? ĂĄĂ‹Ă?ËŹË› ËŤ Ă? à ÓÙÖËÞĂ?ĂŽ Ă—Ă?Ë ĂĄĂ‹Ă? Ă™Ă˜Ă–ĂŁ ÍŻÍ°Ë› Ă™ Ă™Ă˜Ă? Ă•Ă˜Ă™ĂĄĂ?Ëœ ËŠ Ă?Ă‹Ă˜ËŞĂž Ă?ĂžĂ‹Ă˜ĂŽ ÒÓ×˝˛ ËŤ Ă? ĂĄĂ‹Ă? ÞÙÙ ĂĄĂ?Ă‹Ă•Ëœ Ă Ă?ĂœĂŁ ÖËäã˛ Ù×Ă?Ă™Ă˜Ă? Ă?Ă–Ă?Ă? ÚÓĂ?Ă•Ă?ĂŽ Ă&#x;Ăš Ă’Ă“Ă? ĂŒĂ“Ă–Ă–Ă?Ë ËŹ ËŤ ËŞĂŽ Ă?ÒÙÙĂ?Ă? Ă’Ă“Ă— Ă‹Ă‘Ă‹Ă“Ă˜ Ă“Ă? ĂĄĂ? Ă–Ă“Ă Ă?ĂŽ ÞåÓĂ?Ă?ËŹË› ËŤ Ă?ËŞĂ? Ă—Ă™ĂœĂ? Ă‹Ăž ÒÙ×Ă? Ă˜Ă™ĂĄËž Ă—Ă&#x;Ă— ĂžĂ’Ă“Ă˜Ă•Ă? Ă‹Ă˜Ă™ĂžĂ’Ă?Ăœ Ă‘Ă“ĂœĂ–Ă?ĂœĂ“Ă?Ă˜ĂŽ Ă’Ă‹Ă? Ă•Ă“Ă?Ă•Ă?ĂŽ Ă’Ă“Ă— Ă™Ă&#x;Ăž Ă‹Ă‘Ă‹Ă“Ă˜ËŹË› ËŤ ĂŁ ĂŽĂ‹ĂŽ Ă˜Ă?Ă Ă?Ăœ ÚÖËãĂ?ĂŽ åÓÞÒ Ă—Ă?Ëœ ËŠĂ?Ă‹Ă“ĂŽ ËŞĂŽ Ă?ĂžĂ‹Ă“Ă˜ Ă’Ă“Ă? Ă?Ă’Ă“ĂœĂžĂ? åÓÞÒ Ă—ĂŁ ĂŽĂ“ĂœĂžĂŁ Ă?Ă“Ă˜Ă‘Ă?ĂœĂ?ËŹË› ËŤ ÖÙà Ă? Ă—ĂŁ ĂŽĂ‹ĂŽ Ă˜Ă™ĂĄ ÞÒËÞ Ă‹Ă— Ă—ĂŁĂ?Ă?Ă–Ă? Ă‹ ĂŽĂ‹ĂŽË› Þ˪Ă? Ă‹ ÞÙĂ&#x;Ă‘Ă’ Ă”Ă™ĂŒ ĂšĂ‹ĂœĂ?Ă˜ĂžĂ“Ă˜Ă‘ Ă‹ ĂžĂ?Ă?Ă˜Ă‹Ă‘Ă?ĂœË ËŹ Ă‹ĂŽĂ“Ă?Ă? Ă‹Ă˜ĂŽ Ă‘Ă?Ă˜ĂžĂ–Ă?Ă—Ă?Ă˜Ëœ ĂŒĂ™ĂŁĂ? Ă‹Ă˜ĂŽ Ă‘Ă“ĂœĂ–Ă?Ëœ ĂĄĂ’Ă?ĂœĂ? Ă“Ă? ĂŁĂ™Ă&#x;Ăœ ĂŽĂ‹ĂŽ Ă“Ă˜ ÞÒĂ? Ă‹ĂŒĂ™Ă Ă? ĂŽĂ?Ă–Ă“Ă˜Ă?Ă‹ĂžĂ“Ă™Ă˜ËŁ Ă?Ă‹ĂœĂ?Ă?Ăž Ă?ËÞÒĂ?ĂœĂ?Ëœ Ă–Ă?Ă‹Ă Ă? ĂŁĂ™Ă&#x; ÞÒÓĂ? ĂĄĂ?Ă?Ă• åÓÞÒ ÞÒÓĂ? Ă‹Ă‘Ă?Ă–Ă?Ă?Ă? ĂžĂœĂ&#x;ÞÒ Ă›Ă&#x;ÙÞĂ?ĂŽ Ă?Ă™ĂœĂ— ĂœĂ™Ă Ă?ĂœĂŒĂ?Ëœ ËŤ Ă’Ă? Ă?ÖÙÞÒĂ?Ă&#x;Ă– Ă—Ă‹Ă˜ ĂŽĂ™Ă?Ă? Ă˜Ă™Ăž ĂœĂ™Ă‹Ă?Ăž ĂĄĂ’Ă‹Ăž Ă’Ă? ÞÙÙÕ Ă“Ă˜ Ă’Ă&#x;Ă˜ĂžĂ“Ă˜Ă‘Ëœ ĂŒĂ&#x;Ăž ĂŽĂ“Ă–Ă“Ă‘Ă?Ă˜Ă?Ă? Ă“Ă? Ă—Ă‹Ă˜ËŞĂ? ĂšĂœĂ?Ă?Ă“Ă™Ă&#x;Ă? ÚÙĂ?Ă?Ă?Ă?Ă?Ă“Ă™Ă˜ËŹË› Ë› Mrs Kehinde Omoru writes from the UK

Special Needs Centre for Children Showcases Talents Kehinde Lawal Olusoye Compensatory Centre for Children with Special Needs, recently held its talent show and award ceremony tagged, ‘Epe 2018’, aimed at showcasing the hidden potentials of the children.

In his remarks, the Lagos State Governor Akinwunmi Ambode has promised his administration’s readiness to continue to support persons living with disabilities in the state and that letters of employment to persons living with disabilities would be sent to the state civil service and Local Council Development Areas (LCDAs).

According to the governor, who was represented by the State’s

Commissioner for Youth and Social Development, Honorable Agboola Dabiri, the development was a major testament to demonstrate in practical terms his commitment to ensure an all-inclusive government and to empower persons living with disabilities to become wealth creators and employers of labour. “I am elated by the achievement of the centre since its establishment by Mrs. Ellen Caulcrick to serve as a crucible for the nurturing of the natural and acquired talents of children with special needs. The apparent attitude of the average person in our society to the plight of children with special needs in our society revolves around apathy and neglect.�

T H I S D AY Ëž ÍŻÍłËœ Í°ÍŽÍŻÍś

35

Sustaining the Education Tempo in Niger Delta Varsity Popson Tariye

I

t is no longer a fact in dispute that the development and survival of any nation lies not in the abundance of natural resources but lies in massive investment in the education of its people and ultimately harnessing the pool of human resources for its technological and economic development.

A classical example is that of Japan, where there is near absence of any natural resources but has successfully built a technological driven economy to attain a first world status in the comity of nations This is largely due to massive investment in its human capital advancement, Research and Development and many nations have followed suit which Bayelsa State cannot be left behind in this global competition.

Back home in Nigeria, particularly in Bayelsa State, in spite of the abundance of natural resources in oil and gas poverty is still very rife and sadly placed within the unenviable bracket of educationally less developed state.

Shortly after the creation of Bayelsa State in 1996, confronting the educational advancement of the people readily became a cardinal focus. The then pioneer democratically elected government who, took the bull by the horn to establish the state-owned Niger Delta University in year 2000; basically to bridge the yearning gap of educationally disadvantaged status and this has been sustained by successive administrations.

Apart from the need to produce men and women to meet the manpower demands of the state; the university was principally set up to fast track a knowledge driven development process in line with global demands.

To this end, successive vice chancellors and management of the university right from its inception have done their best towards the growth of the institution.

However, in May 17, 2017 when professor Samuel Gowon Edoumiekumo took over as the Acting Vice Chancellor of the Niger Delta University, the appointment was generally applauded by those who have worked closely with him both in the university and the banking circle where he had carved a niche for himself as an astute banker known for his sense of discipline, focused, highly academic, hardworking with uncommon spirit of team work.

A man who has burnt the academic candle, with a double PhD in Economics, fellow and member of several professional bodies among these are Historians Education Development Society of Nigeria and Chartered Economists of Nigeria just to mention but a few.

These are rare qualities of the new leadership which many believe would propel sustained accelerated development in the institution.

Having served the university at various levels with wide range of cognate experiences, he was widely described as a technocrat and academic per excellence who had grown through the rank of the academia.

For example, until his appointment as vice chancellor , Professor Edoumiekumo had served as Head of the Department of Economics in same institution, where he distinguished himself as an epitome of discipline.

Professor Edoumiekumo had also served as Dean of faculty of social sciences, and Deputy Vice Chancellor saddled with sensitive responsibilities

Edoumiekumo

of the university senate.

Armed with these experiences in the art of university administration, his remarkable achievements within the one year he served as Acting Vice Chancellor did not come as a surprise to many, given the charisma and dynamism he brought to bear in confronting the myriads of challenges he inherited.

Having earned the confidence reposed in him, one of the critical concerns the Acting vice chancellor quickly identified was the challenges of accreditation of courses in the university.

With the gracious support and the political will wielded by the education friendly governor of the state, Honourable Henry Seriake Dickson, the Professor Samuel Edoumiekumo-led management of the institution was able to secure the accreditation of a number of courses in quick succession.

On assumption of duties, the VC promptly addressed the problem of epileptic power supply, which is a major problem in Nigerian universities. Until his appointment various departments were constrained to using power generating sets which constituted a lot of environmental nuisance and health hazards. Today the university enjoys steady electricity power supply to the admiration of even his ardent critics.

This has earned the confidence of both students and general public in the running of the university as a true citadel of learning.

Another sterling achievement within the one year professor Edoumiekumo acted as the Vice Chancellor is the strong drive at entrenching transparency and all inclusive administration in line with international best practice.

Apart from prompt payment of imprest and overheads to heads of department and units to achieve maxi-

mum output of workers; he has also put in place a functional Information Communication Technology ( ICT) which is running in full capacity. By this development, all the unnecessary university charges and cumbersome registration processes have been reduced to the barest level.

In addition to that, an online live stream television has been set up to close the communication gap within the university environment.

Furthermore, worried by the incessant vandalization and stealing of the institution’s property, professor Edoumiekumo swiftly stepped up the security architecture by extending the perimeter fencing of the university, as well as installation of security gadgets in strategic locations around the school.

This has gone a long way to allay the fears and security concerns of both staff and students.

In a related development, the vice chancellor who is fondly called the ‘digital VC’ has left no stone unturned at stamping out cultism and sundry crimes for the purpose of creating the much needed enabling environment for creativity and academic to thrive.

Moreover, one chest beating achievement recorded within the period is the initiative to complement government funding by putting in place measures at shoring up the internal Generation of Revenue ( IGR) of the university.

Besides placing premium on research and development geared towards revenue generation, it has also taken bold steps in establishing and incorporating the first ever Niger Delta University farm in the core areas of fish farming where the Deltaic areas are known for its comparative advantages.

In same vein, the university has secured the running of the state-owned Bayelsa palm and the school – to land projects programme to engage

in agro-allied businesses.

In addition to its retinue of inward looking business activities, for the first time the university established its own brand of table water and detergents branded after the university otherwise called the NDU water and detergents.

The university has also completed the process to secure license for the establishment of a Micro Finance Bank to be known as the Niger Delta University Micro Finance Bank.

When the bank eventually becomes functional, it will stimulate business activities and generate revenue to meet the competing funding obligations of the institution.

This is a brilliant demonstration of ingenuity and practical translation of intellectual prowess towards turning around fortunes of the university which the much expected benefits will come in no distance time.

Meanwhile, students admission have been increased from 4,000 to 5,500. This is essentially to reduce the frustrations of millions of admission seekers.

Besides creating cordial relationship with federal government intervention agencies, it has also attracted private donors to the development of the university.

Interestingly, the efforts are yielding positive results as some of whom have endowed chairs with pledges to build a befitting university guest house, while work had already commenced to build a central laboratory in fulfillment of their promises.

Also to mention is the NEEDS Assessment and TETFUND funded projects facilitated by the professor Edoumiekumo led management of the university. When completed these projects will go a long way to provide world-class infrastructure befitting of a university community.

On sporting and recreation, it has provided a volley ball court and lavishly improved on the university football pitch to promote physical fitness, and unity among staff and students.

In the area of promoting students’ unionism, it is salutary to mention that, for the first time in the history of the university, it introduced electronic voting system to enable students freely conduct peaceful and hitch free election of students leaders without undue interference in the process by the university authority which is quite uncommon in students’ unionism in Nigeria universities.

As a veteran of students’ unionism in his undergraduate days, it is the conviction of professor Edomiekumo that promoting such values of unionism is one sure way of entrenching the culture of academic freedom and participatory management of the institution.

Little wonder, these liberal approach to management of the university has earned him several awards accolades and among these are: the pan African servant award by African students union parliament, a positive transformer, new hope and innovative agent award conferred by students of the Niger Delta university and that of distinguished economist award by the department of Economics at the university of Nigeria, Nsukka, just to mention but a few.

As a matter of fact these are no mean administrative and academic achievements coming at a time many universities are contending with paucity of funding and could barely survive.

-Popson Tariye, a Public Affairs Analyst writes from Bayelsa State

36

T H I S D AY Ëž Ëœ ÍŻÍłËœ Í°ÍŽÍŻÍś

CITYSTRINGS

ĂœĂ™Ă&#x;Ăš Ă?Ă‹ĂžĂ&#x;ĂœĂ?Ă? ĂŽĂ“ĂžĂ™ĂœË? Ă’Ă“Ă?Ă—Ă?Ă–Ă“Ă? äĂ?Ă™ĂŒĂ“ Ă—Ă‹Ă“Ă– Ă?Ă’Ă“Ă?Ă—Ă?Ă–Ă“Ă?Ë›Ă?äĂ?Ă™ĂŒĂ“ĚśĂžĂ’Ă“Ă?ĂŽĂ‹ĂŁĂ–Ă“Ă Ă?Ë›Ă?Ă™Ă—Ëœ ͖͕͔͑͑͒͑͒͑͑͘

Anambra: Living in Fear of Extra-judicial Killings Within a week, policemen attached to the Anambra State Police Command gunned down two youths in unprovoked killings that are fuelling tension in the state. David-Chyddy Eleke reports

Ukpor youths protesting the indiscriminate shooting

onstitutionally, policemen are paid to protect the populace, but under the abnormal circumstances that are playing out in Anambra State, they are becoming the most feared killers and tormentors of innocent civilians.

Cases abound of the police brutalising same people they swore to protect and sometimes, the police kill in cold blood.

Recently in Ukpor, Nnewi South Local Government Area of Anambra State, one Mr. Okechukwu Ifechigha, a welder who hails from the community, was shot on both legs by a police officer. Ifechigha was shot in his workshop about 8:30pm over an argument on why he should still be at his workplace at that time.

THISDAY learnt that the victim had a backlog of work to do and decided to spend more time at work to ease his work the following day, in order to satisfy some of his customers who were already waiting for the iron fabrications that were to be used in

C

some building sites in the area. It was for this reason that Ifechigha stayed late at his shop working when he was accosted by policemen on patrol.

Sources said the security men

Let me use this opportunity to call on the state Commissioner of Police, Garba Umar, to take necessary action. The ofďŹ cer involved should be punished severely for his reckless act to serve as a deterrent to other police ofďŹ cers

PHOTOS: GOOGLE

tried to intimidate him by asking what he was still out doing at that time, when he reminded them that he was in his shop and would not yield to any form of the harassments and intimidation. They insisted that Ifechigha had no right to be out at such time in his workshop. In the process, an argument ensued between both parties, and one of the officers shot him first on one leg, and again on the second one, incapacitating him on the spot.

Repeat Performance

Barely a week later, on August 7, another team of policemen struck at Agulu, Anaocha Local Government Area. In that incident, they killed one on the spot and injured another severely. This time however, the bone of contention was said to be bribe of N100, which the police officers at the checkpoint tried to extort from a commercial vehicle driver.

While the driver engaged the policemen in an argument, the deceased, one Nonso Onyeme, was minding

his business inside the bus when the bullet hit and killed him on the spot. Onyeme had boarded the bus at Agulu enroute Awka to transact a quick business and dash back. He never made it back.

According to eyewitness reports, the driver of the commercial bus had refused to part with the N100 bribe the policeman requested for because his vehicle particulars were complete.

His refusal was said to have aroused the anger of one of the policemen who in his rage cocked his riffle, and at close range shot Onyeme in the head. Because the gun was shot at close range, the bullet pierced through Onyeme's head, came out and hit another passenger who sat at the back, injuring him severely.

Upon sighting the angry mob approaching, the policemen were said to have shot sporadically into the air before escaping in their patrol car. Expectedly, these two killings within one week has drawn concern from members of the public.

37

T H I S D AY Ëž Ëœ ÍŻÍłËœ Í°ÍŽÍŻÍś

CITYSTRINGS House of Assembly Speaker Reacts

Reacting to the killing of Ifechigha on July 30, the honourable Speaker of Anambra State House of Assembly, Rt. Hon. (Barr) Rita Madaugwu condemned the death. The speaker who represents Ifechigha in the state assembly wondered why policemen would attack a man who was at his office, doing his legitimate duties. She also wondered why the police would entirely cripple him by shooting him in both legs rather than shooting him in one leg, if at all he posed a challenge to them.

Madaugwu who joined youths of the area who staged a protest over the killing, in a statement she signed and made available to journalists in Awka, said that the welder was in his shop working and had no criminal tendencies to warrant any suspicion.

She urged the people of Ukpor to remain calm and law abiding, noting that the police command in the state was expected to hasten action in addressing the ugly incident.

The speaker, wondered why more citizens were falling victim to policemen as she recounted the story of another lady, an indigene of Ukpor too, Miss Igwetu Linda Nkechi, a Corps member who was serving at Abuja and was shot dead by a police officer at the evening of her passing out. "My people have been suffering in the hands of police officers ranging from humiliations to capital punishment. How can a police officer shoot someone like that? If it was in one leg, people would have said, maybe it was a mistake, but, this one, he shot him on both feet. If not that the guy jumped up the officer would have killed him instantly. He is there in the hospital lying critically ill. He can't even move his legs.

"Let me use this opportunity to call on the state Commissioner of Police, Garba Umar to take necessary action. The officer involved should be punished severely for his reckless act to serve as deterrent to other police officers. As far as I am concerned, it was a clear reckless action by the officer and he must be punished accordingly by the state police command," the statement read.

Public Outcry

Meanwhile, the killing of Onyeme at Agulu has also generated outcry from the public and members of the civil society groups. A rights group, Behind Bars Human Right Defenders (BBHRD), last Thursday besieged the Anambra State Police Command headquarters to press for justice for the victim. The group who marched through the streets of Awka in protest, also petitioned the state police commissioner to ensure justice for family of the deceased.

The protesters carried placards with varying inscriptions like 'human lives are worth more than N100', 'police stop the extortions', 'we demand justice for Nonso Onyeme', among others.

Mr. Harrison Gwamnichu, spokesman of the group, who read their petition to newsmen in Awka condemned the dastardly murder of Onyeme and attempted murder of one Chigozie Okoye, whom the bullet that pierced Onyeme's head had injured. The petition was entitled “A Case of Murder, Attempted Murder, Conduct Likely to Cause Breach of Peace by Emereghene Benaro and Nine Other Police Officers, Metro Police Patrol Awka.�

The group said more painful was that the deceased, who was in his early 30s was an orphan and had a child of about a year old. Gwamnichu said, “We wish to register our displeasure and dismay with the dastardly murder of Nonso, a businessman from Odidiama Village, Agulu in Anaocha LGA, Anambra

Okechukwu Ifechigha, the welder at Ukpor, whose two legs were shot at by the police

and attempted murder of Chigozie Okoye. The shooting took place at Agulu-Awka road, near WAEC at about 1pm by 10 policemen led by one Emereghene Benaro attached to Metro Police Patrol Awka, Anambra Police Command."

The protesters called on the commissioner of police to arrest and transparently prosecute the culprits.

They also charged him to dismantle all illegal checkpoints in the state.

Another request made was that the police should henceforth take responsibility of catering to the needs of the deceased's family, to reduce their trauma as a show of sincere remorse.

The petition also read thus: "We demand the closure of illegal checkpoints in Anambra. We also demand an end to extortion by men of the Nigerian Police. We say no more to further careless killing of Nigerians.

It is worrisome that about 24 hours after the gruesome murder, officers are yet to be arrested and your command is yet to make any official statement, nor have they visited the family.

We demand detailed investigation of this ugly incident and insist that the Police produce all the culprits involved, these reckless behaviors by officers can portray Nigeria as a lawless nation,� it said.

We demand the closure of illegal checkpoints in Anambra. We also demand an end to extortion by men of the Nigeria Police.

We say no more to further careless killing of Nigerians

Rita Madaugwu, Speaker, Anambra House of Assembly

Police Command Reacts

In reaction to both cases, the spokesman of the state police command, SP Haruna Mohammed, denied claims that Onyeme's killer has not been arrested. He said the officers involved in both the Onyeme and Ifechigha have both been arrested, adding that investigation have also commenced.

A press release by the police read thus: "Following the unfortunate incidents of alleged shootings of one Efechigha Okechukwu on the leg at Ukpor on 30/7/2018 and the recent shooting of one Nonso Onyeme on the 7/8/2018 by the police patrol teams attached to the command, the Commissioner of Police, Anambra State Command, CP Garba Baba Umar, ordered for the immediate arrests and full scale investigations into the circumstances surrounding the incidents.

"The CP further assured the public that justice would not only be served on the matter but that all perpetrators will be brought to justice. The CP further commiserated with the

Anambra CP, Garba Umar

families of the victims and assured them that there would be no cover up.

Meanwhile, the policemen responsible for the incidents have been arrested, defaulted and detained.

"The public would be updated on the outcome of investigation as soon as investigations are concluded.

Finally, the command further reassured Anambra people of its readiness to protect lives and properties for all citizens in the state."

Disbelief by Human Rights

A human rights lawyer, Mr Timothy Igbota however said that such press releases by police were merely made to pacify relatives of victims. He said, "Even you as a journalist, did you make effort to know how far the investigation has gone? Did they tell you what their investigation has proven as reason for their men's action? I challenge you to ask them about this after some weeks and see the awkward answer they will give to you. We are waiting to see them prove us wrong on this one," he said.

T H I S D AY Ëž AUGUST 15, 2018

38

BUSINESS/MONEYGUIDE

CBN, NIBSS, Banks to Take BVN Enrolment LG Councils Obinna Chima As part of efforts to aggressively accelerate financial inclusion in the country, the Central Bank of Nigeria (CBN), the Nigeria Interbank Settlement System (NIBSS), commercial banks and mobile operators are currently working on modalities to take the Bank Verification Number (BVN) enrolment to the head offices of the 774 Local Government Areas (LGAs) in the country.

This is expected to capture the large number of the unbanked population and encourage bring them into the financial system.

Also, over 70,000 new financial access points have been created in the country since the Shared Agent Network Expansion Facility (SANEF) was created.

A member of the Technical Committee on SANEF, Mr. Bolaji Lawal, who disclosed this in a presentation in Lagos yesterday, pointed out that at 33 million BVN enrolment presently, the group plan to achieve 70 million registration by 2020.

Furthermore, he said 10,000 remote BVN devices ordered

by NIBSS are currently being deployed to banks, mobile money operators and the super agents. “We are committed to enrol 40 million new unique BVNs between now and year 2020: 10 million in 2018, 15 million in 2019 and 15 million in 2020.

NIBSS will pay agents N100 for every unique BVN enrolled,� he said. Lawal also said nine operators currently party to project have been empowered with N4.5 billion. In addition, he also revealed that three mobile money operators: Paga, Cellulant, eTranzact, had been engaged, while six super agents: Interswitch, Capricorn, Innovectives, Inlaks, Unified Payments and Xpress Payment, are part of the project.

He said a savings account product with an array of features (insurance, pension, micro credit) would be created to be a pull factor to attract the financially excluded into the system “We are liaising with regula-

tors (CBN, NAICOM) to secure approval and launch product by October 1, 2018. Other products planned include: micro retail loans; micro retail savings; retail insurance and micro pensions,� he added.

SANEF is a project powered by the CBN, banks, NIBSS, licenced mobile money operators and shared agents with the primary objective of accelerating financial inclusion in Nigeria.

The initiative involves onboarding 40 million low income and unserved Nigerians into the financial system, increasing financial access points from the current 50,000 to 500,000 by 2020 and deepening access to mobile and digital financial products and services such as savings accounts, micro loans, insurance, pensions by Nigerians.

The project seeks to deepen financial inclusion in Nigeria through an integrated ecosystem with strong regulatory oversight, consumer protection and interoperable payment systems with limited concentration risk.

L-R: Marketing Director, West Africa Business Unit, Coca Cola Nigeria Limited, Mr Bill Gray; Vice Captain, IBB Golf Club, Abuja, Mr Shola Awoyungbo and General Manager, Marketing and Corporate Communications, Coscharis Group, Mr Abiona Babarinde, at the unveiling of the new Range Rover Velar into the Nigerian market,during the Coca Cola ‘Road to Mauritius’ golf tournament held in Abuja‌recently

MARKET INDICATORS

GTBank Foresees 10% Loan Growth Guaranty Trust Bank (GTBank) plans to use some of its cash deposits to help grow its loan book by 10 per cent by the end of the year after credit declined in the first half, the bank said yesterday.

The bank expects to boost loans to compensate for a drop in yields from treasury investments.

The chief executive, GTBank, Mr. Segun Agbaje said the bank could earn a yield of about 7-9 per cent on loans compared with cash deposits in foreign banks earning two percent.

Agbaje said the bank would

take $700 million to $800 million out of its placements with foreign banks and deploy that into loans. “We will still see some growth in our upstream (oil and gas) book,� Agbaje was quoted by Reuters to have said.

Loans fell 11 percent in the six months to June following a nine per cent decline last year, the bank said on a call with analysts.

Agbaje said interest income declined as yields on treasury bills fell but the bank would push fees and commissions to boost growth.

GTBank posted 8.4 per cent rise in pre-tax profit to N109.6 billion for the first half while interest income was N117.93 billion versus N129.54 billion a year ago.

Several lenders expect to grow loans this year as the Nigerian economy recovers from a 2016 recession.

Agbaje said he wants to grow profit from African subsidiaries to around 20 percent by boosting the performance of its East African businesses. He said units outside Nigeria accounted for about 12 percent of profit.

Forex Market Gets $210m Intervention The Central Bank of Nigeria (CBN) has sustained its intervention in the inter-bank foreign exchange market by injecting yet another sum of $210 million into various segments of the market.

At yesterday’s trading, the Bank offered the sum of $100,000,000 as wholesale interventions and allocated the sum of $55,000,000 each for SMEs forex window and the invisibles sector, for customers requiring forex for Business/Personal Travel Allowances, tuition and medical fees, among others.

Confirming the figures in

Abuja, the Acting Director, Corporate Communications at the CBN, Mr. Isaac Okorafor, said the Bank was pleased at the performance of the naira, noting that the currency had continued to enjoy stability against the dollar and other major currencies of the world in recent times.

Okorafor reassured the public that the Bank would continue to intervene in the interbank foreign exchange market in line with its resolve to ensure liquidity in the forex market and maintain stability.

He reiterated that the steps

taken by the CBN in forex management had resulted in further reduction in the country’s import bills and accretion to its foreign reserves.

The naira continued to maintain its strong stand against major currencies around the globe, exchanging for N360/$1 in the BDC segment of the market on Tuesday, August 14, 2018.

Meanwhile, the CBN will today sensitise stakeholders in Abuja and the adjoining states on the bilateral currency swap agreement between the Bank and the People’s Bank of China (PBoC) signed in April.

TEF Entrepreneurship Forum Holds October 25 The Tony Elumelu Foundation (TEF) has announced October 25, 2018, as the date for its fourth annual TEF Entrepreneurship forum.

The forum would unite over 5,000 entrepreneurs, global investors, leaders from the African public and private sectors and developmental organisations in Lagos.

The 2018 cohort from the Tony Elumelu Entrepreneurship Programme, as well as mentors and partners, would be present, as the culmination of their intensive twelve-week induction. “In keeping with the Foundation’s track recordmost recently with President Macron of Franceof bringing politicians face to

face with the new generation of young business women and men shaping Africa, the Forum will include an interactive session with President Uhuru Kenyatta of Kenya and President Nana Akufo-Addo of Ghana, moderated by TEF Founder, Tony O. Elumelu.

The Forum will also feature the launch of the TEFConnect, the world’s largest digital platform for African entrepreneurs, dedicated to connecting African entrepreneurs and the entrepreneurship ecosystem.

Commenting on the forthcoming event, the founder, Tony Elumelu said, “In just four years, we have directly impacted 4,460 entrepreneurs, and we are beginning to see the results – job

creation, ripple effects, but most importantly a recognition that Africa’s economic well-being is driven by entrepreneurs: female and male, large and small – they are the engine of our continent’s transformation. “We will be championing and celebrating them. This year, we are truly achieving scale and impact; we received over 150,000 applications in 2017 alone, up from 20,000 applications in 2015.

We are now calling on the current generation of African success stories and others to partner with us to see how we can all further create impact, genuinely transform millions of lives and increase the number of inspiring stories we will be hearing in Lagos.�

MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

MARCH 2018 Broad Money (M2)

24,303,049.86

-- Narrow Money (M1)

10,912,604.10

---- Currency Outside Banks

1,668,378.21

---- Demand Deposits

9,244,225.90

-- Quasi Money

13,390,445.76

Net Foreign Assets (NFA)

15,619,134.18

Net Domestic Assets(NDA)

8,683,915.68

-- Net Domestic Credit (NDC)

26,267,136.53

---- Credit to Government (Net)

3,823,345.45

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

5,433,209.43

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

-1,609,863.98

---- Credit to Private Sector (CPS)

22,443,791.08

--Other Assets Net

-17,583,220.85

Reserve Money (Base Money)

6,746,646.49

--Currency in Circulation

1,668,378.21

--Banks Reserves

4,357,551.58 Ëž Ă™Ă&#x;ĂœĂ?Ă? Ě‹

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

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

OPEC DAILY BASKET PRICE AS AT MONDAY AUGUST 13, 2018

The price of OPEC basket of ďŹ fteen crudes stood at $70.97 a barrel on Monday, compared with $70.60 the previous Friday, according to OPEC Secretariat calculations.

The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), ZaďŹ ro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

SOURCE: OPEC headquarters, Vienna

39

T H I S D AY Ëž AUGUST 15, 2018

MARKET NEWS

Content Devt. Board Calls for Listing of Oil and Gas Firms on NSE Goddy Egene and Nosa Alekhuogie The Nigerian Content Development and Monitoring Board (NCDMB) has call for the listing of more companies that add value to the Nigeria’s hydrocarbon resources in-country such as refineries, petrochemical industries, fertiliser firms.

The Executive Secretary, NCDMB, Simbi Wabote made the call when he led the manage-

ment of the board on a visit the Nigerian Stock Exchange (NSE) to perform the Closing Gong Ceremony in Lagos yesterday.

Wabote commended the NSE, saying it is playing a vital role in the economy by serving as a means of wealth creation, wealth distribution, and source of long-term financing even as the businesses listed on the exchange use their products and services to meet the needs of our people.

P R I C E S MAIN BOARD

F O R DEALS

He, however, said most of the companies listed under the oil and gas sector of the NSE are into marketing of petroleum products. “We will like to see more of the upstream and mid-stream companies listed on the exchange.

More importantly, we will like to see a major shift in the listing of companies that add value to our hydrocarbon resources in-country such as refineries, petrochemical industries, fertilizer

S E C U R I T I E S

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

companies, and companies in the liquefied petroleum gas/ compressed natural gas value chain,� he said.

According to the NCDMB boss, this will be a gamechanger in the operating model of “our oil and gas industry as it gives room for pooling together of funds for growth as well as the empowerment and inclusion of Nigerians in the activities of the mainstay of our economy.�

T R A D E D MAIN BOARD

A S

Wabote disclosed that the board recently launched its 10-year strategic roadmap designed to increase the Nigerian content level in the oil and gas sector from the current level of about 30 per cent to 70 per cent by 2027. “This means retention of about $14 billion in the Nigerian economy out of the yearly spend of $20billion.

This target represents huge opportunities for investors in

O F

the Nigerian economy. We see opportunity to collaborate with the NSE to increase the depth and breadth of listings using our 10-year strategy as a driver.

For us in the Board, we have commenced multiple strategic initiatives to bring the roadmap into fruition,� he added.

Wabote noted that the vision of the board is to be a catalyst for the industrialisation of the Nigerian oil and gas industry and its linkage sectors.

1 4 / 0 8 / 2 0 1 8 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

WEDNESDAY, ͯͳ˜ ͺ͸͹Ͷ ˾ T H I S D AY

40

/-+6/' '/1< !84)0 '60+8 +5468 $+*3+7*'< 9-978

Thisday Afrinvest 40 Index shed 57bps Yesterday, Tuesday, 14th August 2018, the Thisday ĨƌŝŶǀĞƐƚ ϰϬ ŝŶĚĞdž ůŽƐƚ ϱϳďƉƐ ƚŽ ƐĞƩůĞ Ăƚ ϭ͕ϰϳϮ͘ϳϯ points while YTD return fell to –ϰ͘ϱй͘ dŚĞ ŶĞŐĂƟǀĞ performance of the index was due to price loses in GUARANTY ( Ϭ͘ϱйͿ͕ NIGERIAN BREWERIES ( Ϭ͘ϱйͿ and FBNH ( ϭ͘ϬйͿ ǁŚŝĐŚ ĐƵŵƵůĂƟǀĞůLJ ĂĐĐŽƵŶƚ ĨŽƌ ϯϰ͘ϭй ŽĨ ƚŚĞ ŝŶĚĞdž͘

Local Bourse Maintains Downward Trend͙ ASI down 31 bps The local bourse maintained a downward trend as sell ŽīƐ ŝŶ ACCESS ( ϯ͘ϬйͿ͕ FLOURMILL ( ϭϭ͘ϰйͿ ĂŶĚ GUARANTY ( Ϭ͘ϱйͿ ǁĞŝŐŚĞĚ ŚĞĂǀŝůLJ ŽŶ ƉĞƌĨŽƌŵĂŶĐĞ Ăƚ ƚŚĞ ĐůŽƐĞ ŽĨ ƚƌĂĚĞ LJĞƐƚĞƌĚĂLJ͘ Ɛ Ă ƌĞƐƵůƚ͕ ƚŚĞ ďĞŶĐŚŵĂƌŬ ŝŶĚĞdž ƐůŝĚ ϯϭďƉƐ ƚŽ ϯϱ͕Ϯϴϴ͘Ϯϯ points, YTD return contracted to ϳ͘ϳй ĂŶĚ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝnjĂƟŽŶ ĨĞůů ďLJ EϰϬ͘ϱďŶ ƚŽ EϭϮ͘ϵƚŶ͘ ,ŽǁĞǀĞƌ͕ ĂĐƟǀŝƚLJ ůĞǀĞů ǁĂƐ ŵŝdžĞĚ ĂƐ ǀŽůƵŵĞ ƚƌĂĚĞĚ ŝŵƉƌŽǀĞĚ Ϯ͘ϱй ƚŽ ϭϲϰ͘Ϭŵ ƵŶŝƚƐ ǁŚŝůĞ ǀĂůƵĞ ƚƌĂĚĞĚ ĨĞůů Ϯϳ͘Ϯй ƚŽ Eϭ͘ϲďŶ͘ dŚĞ ƚŽƉ ƚƌĂĚĞĚ ƐƚŽĐŬƐ ďLJ ǀŽůƵŵĞ ǁĞƌĞ UBA ;Ϯϲ͘ϵŵͿ͕ LASACO ;ϭϮ͘ϮŵͿ ĂŶĚ FBNH ;ϭϭ͘ϱŵͿ while GUARANTY ;EϮϴϵ͘ϳďŶͿ͕ UBA ;EϮϱϬ͘ϳďŶͿ and STANBIC ;Eϭϯϲ͘ϴďŶͿ ǁĞƌĞ ƚŚĞ ƚŽƉ ƚƌĂĚĞĚ ƐƚŽĐŬƐ ďLJ ǀĂůƵĞ͘

Consumer Goods Index Bucks Bearish Sector Performance Sector performance was bearish, however, the Consumer Goods index trended northwards as buy interest in INTBREW ;нϱ͘ϮйͿ ĂŶĚ UNILEVER ;нϬ͘ϴйͿ ĚƌŽǀĞ ƚŚĞ ŝŶĚĞdž Ϭ͘Ϯй ŚŝŐŚĞƌ͘ KŶ ƚŚĞ ŇŝƉ ƐŝĚĞ͕ ƚŚĞ Insurance ŝŶĚĞdž ǁĂƐ ƚŚĞ ďŝŐŐĞƐƚ ůŽƐĞƌ͕ ĚŽǁŶ Ϯ͘Ϯй ĨŽůůŽǁŝŶŐ ƐĞůů ŽīƐ ŝŶ CONTINSURE ( ϵ͘ϱйͿ ĂŶĚ LINKASSURE ( ϭϯ͘ϵйͿ͖ ǁŝƚŚ Ă zd ůŽƐƐ ŽĨ Ϭ͘Ϯй͕ ƚŚĞ index joins other indices returning a loss year to ĚĂƚĞ͘ ^ŝŵŝůĂƌůLJ͕ ƚŚĞ ĂŶŬŝŶŐ ĂŶĚ Kŝů Θ 'ĂƐ ŝŶĚŝĐĞƐ ƐŚĞĚ ϭ͘ϭй ĂŶĚ Ϭ͘ϴй ƌĞƐƉĞĐƟǀĞůLJ͕ ĨŽůůŽǁŝŶŐ ƉƌŝĐĞ ĚĞƉƌĞĐŝĂƟŽŶ ŝŶ ACCESS ( ϯ͘ϬйͿ͕ GUARANTY ( Ϭ͘ϱйͿ and ETERNA ( ϵ͘ϳйͿ͘ dŚĞ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ index ĐůŽƐĞĚ ƚŚĞ ĚĂLJ ŇĂƫƐŚ͕ ĚŽǁŶ ϭ ďƉ͘

/ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ tĞĂŬĞŶƐ DĂƌŬĞƚ ƐĞŶƟŵĞŶƚ ĂƐ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ ;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ ǁĞĂŬĞŶĞĚ ƚŽ Ϭ͘ϰdž ĨƌŽŵ Ϭ͘ϲdž ƌĞĐŽƌĚĞĚ ƚŚĞ ƉƌĞǀŝŽƵƐ ĚĂLJ ĂƐ ϭϯ stocks advanced ĂŐĂŝŶƐƚ ϯϯ ƐƚŽĐŬƐ ƚŚĂƚ ĚĞĐůŝŶĞĚ͘ dŚĞ ƚŽƉ ƉĞƌĨŽƌŵĞƌƐ for the day were MBENEFIT ;нϭϬ͘ϬйͿ͕ CUSTODIAN ;нϵ͘ϵйͿ ĂŶĚ LIVESTOCK ;нϵ͘ϱйͿ ǁŚŝůĞ ABCTRANS ( ϭϬ͘ϬйͿ͕ UNIONDAC ( ϭϬ͘ϬйͿ ĂŶĚ ETERNA ( ϵ͘ϳйͿ ůĞĚ ůĂŐŐĂƌĚƐ͘ /Ŷ ůŝŶĞ ǁŝƚŚ ŽƵƌ ĞdžƉĞĐƚĂƟŽŶ͕ ƚŚĞ ŵĂƌŬĞƚ ŵĂŝŶƚĂŝŶĞĚ Ă ŶĞŐĂƟǀĞ ĐůŽƐĞ͘ tĞ ĞdžƉĞĐƚ ƚŚŝƐ ƚƌĞŶĚ ƚŽ ďĞ ƐƵƐƚĂŝŶĞĚ Ɵůů ŵŝĚǁĞĞŬ͕ ŚŽǁĞǀĞƌ͕ ǁĞ ĚŽ not rule out the possibility of a rebound by week ĞŶĚ ĂƐ ŝŶǀĞƐƚŽƌƐ ƐĞĞŬ ďĂƌŐĂŝŶ ŚƵŶƟŶŐ ŽƉƉŽƌƚƵŶŝƟĞƐ͘

% -)+ +*,& % ! &

" ! & # !" % 93*'2+38'1 +6,462'3)+ +86/)7 ,46 " ! & # !" 3*+;

6/)+ 6/)+ 6+:/497 966+38 .'3-+ .'3-+ 6/)+ $+/-.8/3 &" 3*+; 84 .'3-+ '8+

966+38 6/)+

"/)0+6

" ! & # !"

#

/:/3*+3 '63/3-7 * &/+1* &/+1*

;

;

:(7(49> "7:89 (41

=

=

',409/ (41

=

=

0.,70(4 7,< ,70,8

4

=

=

,892, 0.,70(

=

=

=

=

(4.59, ,3,49

52+04.8 2*

=

=

**,88 (41

=

=

#409,+ (41 -57 -70*(

=

=

*5)(41 "7(484(9054(2 4*

=

=

! " ,9752,:3 ,;,2563,49

=

=

!9(4)0* " 52+04.8

=

=

#402,;,7 0.,70(

=

=

:044,88 0.,70(

=

=

(-(7., -70*(

=

0+,209> (41

=

=

(4+5

=

=

(4.59, !:.(7 ,-04,7>

=

=

153: 02 (23

=

=

49,74(9054(2 7,< ,70,8

=

=

25:7 0228 5- 0.,70(

=

=

"7(484(9054(2 576 5- 0.,70(

=

=

# 5- 0.,70(

=

=

0(354+ (41

=

=

=

=

=

=

=

"59(2 0.,70(

75:6 2*

579, 02

' :88548 0.,70(

=

(+):7> 0.,70(

=

=

7,8*5

=

=

=

=

=

! 220,+ 4+:8970,8

# ,(2 89(9, 4;,893,49 "7

=

=

#4054 (41 5- 0.,70(

=

=

:20:8 ,7.,7 0.,70(

=

=

!9,7204. (41

=

=

(4.59, 25:7 0228 2*

=

2(=5!309/ 204, 548:3,7 0.,7

=

=

/,30*(2 (4+ 220,+ 75+:*98

=

=

,9( 2(88

=

=

"7(48*576 59,28 2*

=

=

" 4 5 ' / 3 + 6 7 " 0* 1 ,7

" 4 5 " 6 ' * + 7 ( < # 4 1 9 2 +

70* ,

70* , /.

" 0* 1 ,7

" #!"

$ !"

!

%

#

"

%

! $

!

! !

$5 2:3 ,

70* , /.

#

!

" &

#

#

"&

"

' "

"

$

" !

!

" 4 5 4 7 + 6 7 " 0* 1 ,7

" 4 5 " 6 ' * + 7 ( < # ' 1 9 +

70* ,

70* , /.

#

"

" 0* 1 ,7

"

!

# " !#

#

#

$(2:, "&

#

70* , /.

!"

' "

"

!

#

" &

"

%

" ' ( $

' ( $

" ' " ( $

# ' # ( $

41

T H I S D AY Ëž Ë&#x153; ͚ͽË&#x153; ͺ͸͚͜

MARKET NEWS

FBNQuest Merchant Bank Restates Commitment to Clientsâ&#x20AC;&#x2122; Success Goddy Egene The Managing Director of FBNQuest Merchant Bank, the investment banking and asset management subsidiary of FBN Holdings Plc, Mr. Kayode Akinkugbe, has restated the commitment of the company to success of its clients, emphasising that it is a priority of the company.

Akinkugbe restated this commitment while commenting on the leading role FBNQuest Merchant Bank played in the recent listing of Notore Chemical

Industries Plc on the Nigerian Stock Exchange (NSE). â&#x20AC;&#x153;The transaction adds to FBNQuest Merchant Bankâ&#x20AC;&#x2122;s impressive portfolio of clients it has supported, and once again highlights its capabilities in the successful execution of sizeable capital market and commercial debt transactions.

We are proud of the instrumental role FBNQuest Merchant Bank played in this transaction, and appreciate the trust Notore placed in us to assist them. Our clients remain our priority, and we strongly believe their success

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 â&#x20AC;&#x2DC;sharesâ&#x20AC;&#x2122; on the

is our success,â&#x20AC;? he said.

FBNQuest Merchant Bank, acted as lead financial adviser and issuing house on the listing of Notore on the NSE. The company, which is one of the leading fertilizer and agro-allied companies in Africa, listed on the NSE 1,612,066,200 ordinary shares with a 50kobo par value each at a price of N65.50 per share in order to promote better liquidity of its ordinary shares in the secondary market, as well as have a platform to access long term capital from a wide range of local and

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 1308-2018, unless otherwise stated.

international investors when required. FBNQuest Securities acted as the lead stockbroker on the listing, alongside other advisers.

According to Akinkugbe, as a leading institution for financing, investing, trading, and advisory, â&#x20AC;&#x153;we understand the role we must play in supporting our clients across the private or public sector and continue to build our team of industry experts across oil and gas, power, infrastructure, services, diversified industries, and other emerging sectors of the

economy to enable us support their goals and objectives.â&#x20AC;?

The bank said in the last 36 months, it has raised in excess of N200 billion for clients through commercial papers and bonds. Most recently are: UACN Property Development Companyâ&#x20AC;&#x2122;s N10.66billion Series 29-31 Commercial Papers and a N4.355billion Series 1 Senior Guaranteed Fixed Rate Bond; Mixta Nigeriaâ&#x20AC;&#x2122;s N9.83 billion Series 5 Commercial Paper, and Nigerian Breweries Plcâ&#x20AC;&#x2122;s N11.08billion series 13-15 Commercial Papers.

Also on the list of successful transactions are: Municipality Waste Management Contractorsâ&#x20AC;&#x2122; N20.3billion Fixed Rate Medium Term Note, the Divestment of First Bank of Nigeriaâ&#x20AC;&#x2122;s 100 per cent equity interest in FBN Mortgages; and Dufil Prima Foodsâ&#x20AC;&#x2122; 5 year N10 billion Series 1 Fixed Rate Bond. â&#x20AC;&#x153;In addition tothese, the bank has raised about US$500 million in equity from the public and private capital markets and also closed six mergers and acquisition deals over the past three years,â&#x20AC;? it 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 178.10 178.50 N/A Nigeria International Debt Fund 263.30 263.69 N/A 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 N/A N/A N/A ACAP Income Funds N/A N/A N/A 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 N/A N/A N/A ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund N/A N/A N/A ARM Discovery Fund N/A N/A N/A ARM Ethical Fund N/A N/A N/A ARM Money Market Fund N/A N/A N/A AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 10.56% Paramount Equity Fund 11.73 12.03 5.79% Women's Investment Fund 102.26 104.88 1.62% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 12.43% 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 12.21% Coronation Balanced Fund 1.17 1.20 11.63% Coronation Fixed Income Fund 1.20 1.23 16.26% EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A N/A N/A N/A EDC Nigeria Money Market Fund Class B N/A N/A N/A 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 1,182.89 1,183.62 9.33% FBN Heritage Fund 142.92 143.92 2.32% FBN Money Market Fund 100.00 100.00 12.04% FBN Nigeria Eurobond (USD) Fund - Institutional 113.94 114.35 3.37% FBN Nigeria Eurobond (USD) Fund - Retail 113.73 114.14 3.28% FBN Nigeria Smart Beta Equity Fund 161.96 164.30 1.27% 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 1.28 1.31 -1.05% Legacy Debt Fund 3.11 3.11 7.86% 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 12.07% Nigeria Entertainment Fund 102.91 104.42 3.20% INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 1.00 1.00 12.25% Vantage Balanced Fund 2.14 2.16 1.61% Vantage Guaranteed Income Fund 1.00 1.00 14.23% Kedari Investment Fund (KIF) 120.52 120.79 4.74%

LOTUS CAPITAL LTD ďŹ ncon@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 2.70% Lotus Halal Fixed Income Fund 1,067.99 1,067.99 8.29% 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 12.28 12.39 -5.84% Meristem Money Market Fund 10.00 10.00 10.99% 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 1.35 1.37 12.98% PACAM Fixed Income Fund 11.88 11.95 7.66% PACAM Money Market Fund 10.00 10.00 11.37% 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 127.61 128.24 -1.54% 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 9.42% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 2,303.29 2,321.60 2.67% Stanbic IBTC Bond Fund 185.50 185.50 5.13% Stanbic IBTC Ethical Fund 0.99 1.00 -1.49% Stanbic IBTC Guaranteed Investment Fund 237.73 237.77 7.95% Stanbic IBTC Iman Fund 169.78 171.77 -5.18% Stanbic IBTC Money Market Fund 100.00 100.00 11.75% Stanbic IBTC Nigerian Equity Fund 9,132.98 9,256.10 -5.56% Stanbic IBTC Dollar Fund (USD) 1.08 1.08 1.98% 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 -2.85% United Capital Bond Fund 1.54 1.54 7.85% United Capital Equity Fund 0.74 0.75 -3.12% United Capital Money Market Fund 1.00 1.00 11.52% United Capital Eurobond Fund 104.80 104.80 4.76% United Capital Wealth for Women Fund 1.06 1.07 2.16% 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 12.45 12.65 0.62% Zenith Ethical Fund 13.00 13.13 -0.19% Zenith Income Fund 20.71 20.71 9.45% Zenith Money Market Fund 1.00 1.00 11.59%

REITS NAV Per Share

Yield / T-Rtn

11.41 137.49 51.52

1.01 3.80% 1.36%

Bid Price

Offer Price

Yield / T-Rtn

11.59 132.95 101.04

11.79 135.78 102.94

-3.97% -6.92% -7.51%

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

EXCHANGE TRADED FUNDS Fund Name Lotus Halal Equity Exchange Traded Fund SIAML Pension ETF 40 Stanbic IBTC ETF 30 Fund

VETIVA FUND MANAGERS LTD Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Vetiva Banking Exchange Traded Fund Vetiva Consumer Goods Exchange Traded Fund Vetiva GrifďŹ n 30 Exchange Traded Fund Vetiva Industrial Goods Exchange Traded Fund Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund

SPECIALIST FUNDS*

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

4.50 8.41 16.55 16.85

4.54 8.49 16.65

-5.05% -12.05% -5.41% -14.28%

144.61

17.05 146.61

7.38%

FOR HNI & PROFESSIONAL INVESTORS ONLY

Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

NAV Per Share

Yield / T-Rtn

105.44

17.63%

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 managerâ&#x20AC;&#x2122;s website and FMANâ&#x20AC;&#x2122;s website at www.fman.com.ng. Fund prices are supplied by the operator of the relevant fund and are published for information purposes only.

42

T H I S D AY ˾ ͯͳË&#x153; ͰͮͯͶ

T H I S D AY ˾ WEDNESDAY AUGUST 15, 2018

43

44

T H I S D AY ˾ ͯͳË&#x153; ͰͮͯͶ

T H I S D AY ˾ WEDNESDAY AUGUST 15, 2018

45

46

T H I S D AY ˾ ͯͳË&#x153; ͰͮͯͶ

T H I S D AY ˾ WEDNESDAY AUGUST 15, 2018

47

48

T H I S D AY ˾ ͯͳË&#x153; ͰͮͯͶ

T H I S D AY ˾ WEDNESDAY AUGUST 15, 2018

49

50

WEDNESDAY AUGUST 15, 2018 ˾ T H I S D AY

FOREIGN/DIPLOMATIC AFFAIRS

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

In Brief U.S.Threatens More Actions against Turkey over Pastor

The United States warned more economic pressures might be in store for Turkey if it refused to release a jailed American pastor, a White House official said on Tuesday, in a dispute that has further strained relations between the NATO allies, Reuters reported. The tough message emerged a day after White House national security adviser John Bolton met privately with Turkish ambassador Serdar Kilic about the case of evangelical pastor Andrew Brunson. Bolton warned him that the United States would not give any ground, a senior U.S. official said. The White House official, speaking to Reuters on condition of anonymity, said “nothing has progressed” thus far on the Brunson case. “The administration is going to stay extremely firm on this. The president is 100 percent committed to bringing Pastor Brunson home and if we do not see actions in the next few days or a week there could be further actions taken,” the official said.

Further actions would likely take the form of economic sanctions, the official said, adding, “The pressure is going to keep up if we’re not seeing results.”

Italy: Bridge Collapse near Genoa Kills Dozens

Outgoing Democratic Republic of Congo President Joseph Kabila (left) chose close ally and loyalist, former interior minister Emmanuel Ramazani Shadary (right), as successor in upcoming elections PHOTO CREDIT: AFP

Kabila’s Decision to Step Aside Won’t Change DRC’s Power Dynamics Reuben Loffman

T

he ruling party in the Democratic Republic of the Congo (DRC), The Peoples’ Party for Reconciliation and Democracy, made an announcement recently that took everybody by surprise — that Joseph Kabila will not be its presidential candidate come the December 2018 general election.

Kabila has been in power since 2001 and was widely expected to cling to the presidency beyond his constitutional term limits. He took over after the assassination of his father Laurent Désiré Kabila who had overthrown Mobutu Sese Seko in 1997.

The country has been on tenterhooks since late July when the nomination period opened, tensely awaiting Kabila’s decision on his candidacy.

He was barred from running for a third term under the country’s constitution. But many feared he would do so anyway.

The US welcomed Kabila’s decision to stand down. But Nikki Haley, US ambassador to the United Nations, noted that much more still needed to be done in terms of ensuring a stable democratic transition in the DRC. Nevertheless, the party’s announcement means that for the first time in modern Congolese history, presidential power will be transferred through an election. Instead of Kabila, the Peoples’ Party for Reconciliation and Democracy has fronted former interior minister Emmanuel Ramazani Shadary as its presidential candidate.

Many commentators have described Shadary as a loyal regime hardliner. There should be no illusions that his candidacy means that the DRC faces a brighter democratic future. He is very close to Kabila (as he was to his father) and is unlikely to threaten the incumbant’s grip on power. Kabila will most likely pull the strings in the background if Shadary is elected president in December.

One of the founders of the Peoples’ Party for Reconciliation and Democracy , Shadary’s administrative career began in 1997 when the former president Laurent Désire Kabila, appointed

him as vice-governor of the eastern Maniema province. A year later, he became governor.

Maniema is an important mining centre in eastern Congo even if it’s not the most significant as it contains diamonds, copper, gold and cobalt resources.

Since 2012, Shadary has been the president of the party’s parliamentary group. He wields a lot of power in Kinshasa. Until February this year he was instrumental in organising the violent repression of protesters in the capital.

The US and EU have imposed sanctions on Shadary for his involvement in repressive activities.

This means that even if he’s elected president, he will not be allowed to enter America or Europe.

That notwithstanding, the EU and the US are among the DRC’s largest donors. And their sanctions have not impeded Shadary’s rise to power.

Shadary’s candidature means that Kabila may still retain a good deal of power. There’s speculation that he could become prime minister under Shadary. The president can technically choose the prime minister under the Congolese constitution although their choice has to be ratified by the National Assembly. If Shadary was elected, and Kabila was chosen as his president, then this cohabitation would increase Kabila’s power as PM. Both men would be from the same party, the PPRD, and so the president would find it difficult to exercise power without Kabila’s support.

There’s also speculation that he could run in the next presidential elections that would occur five years after the next president is elected in 2023.

Both these developments – assuming the role of prime ministers as well as skipping a turn at the presidency – would be similar to the way in which Russian President Vladimir Putin held on to power. Firstly, he allowed Dmitry Medvedev to become President of Russia in 2008, only to take over the role himself in 2012. And he served as prime minister under Medvedev.

Shadary has support in his Maniema stronghold.

But it’s uncertain what his appeal is beyond the region. He will nevertheless benefit from the narrow field and the resources at the PPRD’s

disposal.

It’s almost certain that the hugely popular former governor of Katanga, Moise Katumbi, will not be able to run for the presidency.

Katumbi, who has been in exile for two years, was denied entry when he tried to enter the DRC at the Zambian border. There have been widespread protests against the move, mainly in the south-eastern city of Lubumbashi. But he hasn’t been allowed home.

Shadary will face two notable challengers.

First, he will have to compete with Félix Tshisekedi, the son of long-time opposition leader Etienne Tshisekedi who is trying to step out of his father’s shadow during this campaign. Tshisekedi is running on a Union for Democracy and Social Progress ticket. The party is one of the DRC’s longest lasting opposition parties, and Tshisekedi has had a lot of time to campaign. The latest poll showed that he is likely to get 19% of the vote. But without Katumbi or Kabila in the race, his chances of success have gone up.

The other man to watch is Jean-Pierre Bemba.

He recently returned to the DRC after being released from prison following his conviction on war crimes and crimes against humanity being overturned on appeal at the International Criminal Court.

Bemba is trailing Tshisekedi in the polls, but has had far less time to organise his campaign.

He could well turn out to be a political thorn in Shadary’s side.

As it turns out, Kabila’s decision not to run in the upcoming elections has opened up the field to some extent. The focus now shifts to Shadary, and whether he will allow his opponents the freedom to campaign in the days ahead. As Kabila has decided he’s not running, there is some hope for a more democratic DR-Congo.

However, it’s unlikely to be a wholly free and fair election and it may well result in Kabila remaining in power if not in office.

– Loffman is Lecturer in African History, Queen Mary University of London.

A bridge collapsed in Italy’s northwestern city of Genoa on Tuesday, sending vehicles falling nearly 100 metres to the ground and killing at least 30 people, according to local authorities. Al Jazeera reported that many others were seriously injured, quoting Italian Interior Minister Matteo Salvini, after part of the Morandi Bridge on the A10 motorway caved in around midday local time (10:00 GMT) on Tuesday. About 200 fire-fighters were deployed to the scene, with the death toll expected to rise. The cause of the disaster was not immediately clear, although weather services in the region had issued a storm warning Tuesday morning. A director for motorway operator Autostrade, which manages the section of the toll road that collapsed, said it had been impossible to predict.

Four Ugandan Opposition MPs in Police Custody

The musician-turned-opposition MP Robert Kyagulanyi, better known as Bobi Wine, and three other lawmakers were in police custody, BBC reported on Tuesday.

Paul Mwiru, Gerald Karuhanga, Francis Zaake and Mr Kyagulanyi were arrested following violence at a campaign rally attended by President Yoweri Museveni whose car was pelted with stones, according to the authorities. Former MPs Kasiano Wadri and Michaal Mabikke were also among those detained. In a statement, police spokesperson Emilian Kayima said they intervened “to contain the situation”, using “teargas and shooting” to prevent an escalation. The detained MPs were accused of blocking the president convoy and attacking it, according Mr Kayima. He also confirmed that Mr Kyagulanyi’s driver had died from a gunshot wound, but did not state who the culprit was.

IKremlin Says Nothing Good Will Come From U.S. Sanctions

The Kremlin said on Tuesday that a new U.S. bill on sanctions against Moscow does not bode well for Russia’s relations with the United States. The U.S. Congress published on Tuesday the text of a bipartisan bill that among other things includes restrictions on investment in new Russian sovereign debt and bans several state-run Russian banks from operating in the United States. “We maintain our stance on these restrictive measures. This does not bode well for the bilateral relations,” Kremlin spokesman Dmitry Peskov said during a conference call, according to Reuters.

51

WEDNESDAY AUGUST 15. 2018 ˾ T H I S D AY

NEWSEXTRA

Order to Arrest INEC Boss Still Valid, Judge Insists Alex Enumah in Abuja

Justice Stephen Pam of the Abuja Division of the Federal High Court yesterday held that his order of August 1 to the police to arrest and produce the Chairman of the Independent National Electoral Commission (INEC), Prof. Mahmoud Yakubu in court to explain why he should not be committed to prison over alleged disobedience to order of the court remained valid.

Justice Pam ordered that the police must arrest and produce Yakubu in court on August 16, the next adjourned date.

Justice Pam had on August 1,

issued a bench warrant against the INEC chief, following his failure to appear before the court on three occasions to defend himself in the contempt charge brought against him by Ejike Oguebego and Chuks Okoye, Chairman and Legal Adviser of the Peoples Democratic Party (PDP), Anambra State chapter, respectively.

Based on the first order, the police was supposed to produce Yakubu in court on August 8.

However, the INEC boss wasnot in court on the said date, forcing the court to adjourn to August 14 with the court again affirming its earlier order of August 1.

However, when the matter came up yesterday, the INEC chairman was not in court to show cause why he should not be committed to prison over contempt of court allegation.

His counsel neither appeared nor sent a message to the court to explain his absence.

However, counsel to the plaintiffs, Kanayo Okafor,

informed the court of the ruling of the Abuja Division of the Court of Appeal on August 13, which ordered a stay of execution of the warrant of arrest, as well as the proceedings at the trial court.

In a short ruling, Justice Pam held that the court is a court of record and as such would require the ruling or judgment

of the appellate court, adding that there is no proof of such decision of the higher court before him.

“This court being a court of record, has nothing to prove that there was an order for stay from the Court of Appeal”, the judge held.

Justice Pam, subsequently adjourned to August 16 for

the police to produce Yakubu in court for the trial.

On August 13, the Court of Appeal, Abuja, restrained the police from arresting the INEC chief based on the orders of Justice Pam. The court also halted Yakubu’s trial at the lower court, pending the determination of the appeal filed by Yakubu.

Awolowo: How We are Implementing Zero Oil Policy Jonathan Eze The Director-General of the Nigerian Export Promotion Council (NEPC), Mr. Segun Awolowo, has declared that the ambitious decision to achieve a zero oil policy economy is possible with support from stakeholders and states governments.

Speaking yesterday on Arise Television Morning Show Programme, a sister broadcast arm of THISDAY Newspapers, Awolowo said after addressing the National Economic Council (NEC) which is the highest economic advisory council in the country chaired by Vice President Yemi Osinbajo, the federal government set up an export promotion committee called the National Export Promotion Committee to activate and work out the zero oil plan under the chairmanship of the Governor of Jigawa State, Alhaji Mohammed Badaru Abubakar.

According to him, the Governor of Lagos State and the Governor of Ebonyi State are committee members.

“When we started looking at the zero oil plan then, if you remember, there was a moment where oil led to the

recession of our economy where oil traded for as low as $20 per barrel and our cost of production was $32 a barrel. It was a low brainer that the economy had to fall into recession despite best intentions.

“We looked at it and say Nigeria must and can survive in a world economy where she no longer sells oil. It is a big and bold ambition like you say, but countries must work with an ambition, get a plan and work towards it.

“We have the Ministry of Industry, Ministry of Mines and Steel, which is a big aspect of our zero oil plan; so, we started meeting and we have had two national meetings with representatives of each state.

“We are going back to NEC to report and some of the things that would come up is that we are going to set up an anchor borrowers programme for export designed by the Central Bank of Nigeria (CBN). Of course, they are also members, so that we can actually have more finance towards export and the whole idea is that our economy has to be export driven to earn foreign exchange.

Court Restrains Kwara Speaker, 22 Others from Suspending Popoola Hammed Shittu in Ilorin A Kwara State High Court sitting in Ilorin, the state capital, yesterday restrained the Speaker of the state House of Assembly, Dr. Ahmad Ali, and 22 other members and their agents from suspending and investigating Hon. Saheed Popoola, a member representing Balogun/Ojomu constituency of Offa.

Popoola was the only lawmaker who refused to defect from the All Progressives Congress (APC) to the Peoples Democratic Party (PDP) with 23 others in the state recently.

Already, the House of Assembly had commenced a process to investigate his certificate, which was alleged not to be regular.

They have also accused him of forgery, and also threatened

to suspend him.

The development has led Popoola to approach the court to challenge the decisions of the lawmakers.

In the thirty two paragraphs affidavit filed on his behalf by his counsel, Mr. Ayinla Jawondo, in suit number KWS/103/2018, the applicant among others, told the court, that “the defendants have no vires /power to suspend the claimant and or truncate and or in any way interfere with the claimant’s tenure and performance based on criminal allegations of forgery of educational qualifications submitted by the claimant “ The trial judge, Justice T.S Umar after hearing the motion restrained the Speaker, 22 other members of the state house of assembly and its agents from suspending and investigating , Popoola.

MEDIA BRIEFING

L-R: President’s Personal Assistant on New Media, Bashir Ahmed; Senior Special Assistant to the President on Media and Publicity, Mallam Garuba Shehu and Senior Special Assistant to Acting President on Media and Publicity , Mr.Laolu Akande, at a press briefing held at the press gallery , Presidential Villa , Abuja ....yesterday PHOTO: GODWIN OMOIGUI

Nwabueze, Igbo Elders Seek New Constitution Before 2019 Election Christopher Isiguzo in Enugu

Notable Igbo elders led by renowned constitutional lawyer, Prof. Ben Nwabueze (SAN), yesterday asked President Muhammadu Buhari to set up a Constituent Assembly that will midwife a new constitution for the country before the 2019 general elections.

The elders who operate under the umbrella of Igbo Leaders of Thought (ILT) made the call in a communiqué released after their meeting in Enugu.

They said that a new constitution for the country

had become necessary in view of the obvious flaws in the 1999 constitution, stressing that using the same document for the coming elections will be counter-productive.

The group expressed worry at the rate of killings in the country, saying that it has assumed genocidal proportions and portrayed the country as a “failed state”.

It called on the federal government to urgently address the situation before the next elections.

The elders also expressed concern that the administration of the country has made the fight against corruption its

cardinal programme, regretting however, that it has been made a “selective prosecution of political opponents” from evidence available to it.

“The Igbo Leaders of Thought (ILT) feels that the solution to corruption is to resolve political corruption which includes nepotism, appointment on basis of religious faith, protection of loyalists who are known to be manifestly corrupt, and expenditure of public funds without budgeting”, the statement said.

On the economy, the leaders lamented that the dysfunctional state of the system has

relegated the country into poverty. They recommended that steps should be taken to set up food production and animal husbandry like the type promoted by the late Premier of the Eastern Region, Mike Okpara. ºThe Igbo leaders called for the immediate deproscription of the Indigenous People of Biafra (IPOB).

They noted that members of the organisation do not carry arms but engages in protests, a development they added, was within their legitimate rights.

It noted that other organisations such as herdsmen who carry arms have not been proscribed.

Opeke: Distribution of Internet Capacity, Major Challenge for Nigeria Emma Okonji

The Chief Executive Officer of MainOne Broadband Company, Ms Funke Opeke has said the greatest challenge of Nigeria in technology advancement, is in the distribution of local internet capacity across the country.

Opeke who was monitored on Arise Television yesterday, expressed concern about the low capacity usage of broadband in the country. She said despite the huge deposit of broadband capacities at the shores of the country, from MainOne submarine cable and other submarine cables in the country, the capacity

of broadband that is currently being put into use, is less than 10 per cent.

She said the only way to overcome the challenge is through shared infrastructure, where operators will be willing to share infrastructure in the areas where they have sufficient capacity to share.

“Infrastructure gap is still a challenge in the country.

There is lot of infrastructure gap between Nigeria and the rest of the world, and it is for this reason that MainOne set out to build its sub-marine cable to bridge the gap, but unfortunately, we have no national backbone infrastructure to transmit the

broadband capacities from the shores of the country to the hinterlands, hence broadband capacity utilisation is still low,” Opeke said. She explained that Nigeria needs local distribution of broadband infrastructure to address the challenge.

According to her, “MainOne is making efforts to take broadband capacity to the hinterlands, but as a country we have challenges affecting the initiative, which is the challenge of deployment. As a company we operate on the open access model to address the issue of deployment so that other operators can have access to the MainOne marine cable and transmit the capacity to

the end users.”

The approach of broadband distribution in Nigeria has been proprietary in nature where one operator dominates a certain area and would not want to share infrastructure with other operators, a situation that is limiting speedy deployment of broadband infrastructure across the country. We need shared infrastructure to reduce cost of deployment, to scale up our business and to increase returns on investment (RoI). If this is achieved, there will be less concentration of internet capacities and even distribution of such capacities to those that needed it most at reduced cost, Opeke said.

52

WEDNESDAY AUGUST 15. 2018 ˾ T H I S D AY

NEWSEXTRA

‘Africa Remains Best Destination for Venture Capitalist Investment’ Emma Okonji

In spite of the low investment profile from venture capital investments in Africa, which is estimated at $0.5 billion yearly, compared to US yearly venture capital investments of $70 billion, China’s $70 billion and Europe’s $20 billion, Africa still remains the best destination for capital venture investment, owing to its relatively low investment risk, venture capitalists have said.

The Founder and Managing Partner of TLcom Venture Capital, Mr. Maurizio Caio and Senior Partner TLcom Venture Capital, Dr. Omobola Johnson who were monitored on Arise News Television yesterday, while speaking on venture capital funding for up-coming entrepreneurs and technology startups, said although funding had remained a huge challenge for up-coming business in Africa, Venture Capitalists could still find Africa as the best continent to invest their monies because of the low risk involved in investing in

Africa, coupled with the pool of talented young entrepreneurs who are technology savvy and are ready to do great exploits in using technology to address specific African challenges.

Johnson who was the former Minister of Communications Technology in Nigeria, said TLcom was established about five years ago, but has within a short period of time, invested in up-coming companies in Nigeria and Kenya that have proved to be commercially viable.

According to Caio, although money could be a huge challenge for young companies in Africa, but they should rather focus on developing their business model into solution that will address specific challenges, than focusing on initial capital, which he said was not the ultimate.

Omobola said TLcom was able to raise between $40 to $50 million in the last two years, from a target of $100 million to invest in African entrepreneurs, just to make the world know of the growing technology

entrepreneurship in Africa that needed support.

We have several talented young entrepreneurs in Africa, but their challenge is about raising funds to expand their business, Johnson said.

She however said that was important about supporting African entrepreneurs is to guide them in managing their

business, in scaling up their business, and in recruiting people.

When asked what are the things to look out for when investing in young companies, Caio said as a venture capitalist, he would always look out for the market value of the business, the role that technology can play in expanding the business, the

growth history of the business and the commitment of the team players and the viability of their business model.

In the area of local innovation, Johnson said entrepreneurs in Nigeria and Africa have the opportunity to be creative, innovative and create solution that could address local specific challenges. According to her,

the future of Africa lies in financial technology, energy, e-Commerce, B2B transactions, especially with small business to smaller businesses, and in the SMEs. She said there was need to take technology access to schools in order to equip the schools and the students for the purpose of technology advancement.

Court Dismisses Murder Case against PDP Chairman Segun James An Ikeja High Court yesterday dismissed the murder charge filed against the Lagos State Chairman of the Peoples Democratic Party (PDP), Mr. Moshood Salvador, following the alleged murder of the Apapa Local Government Area chairman of the party, Mr. Adeniyi Aborishade, after a party meeting.

The police were said to have arrested 11 PDP members, including the chairman who had gone to report the incident.

Following his arrest, Salvador and the other 10 accused persons were subsequently arraignment before a Yaba Chief Magistrate Court which remanded them in Kirikiri Prisons on a two-count charge of conspiracy and unlawful killing on July 25.

During yesterday’s proceedings, the vacation judge, Justice Obafemi Adamson, dismissed the charge

after entertaining submissions from counsels in a counter suit challenging the charge filed by Salvador against the state.

Justice Adamson in the ruling said that in view of the advice from the office of the Directorate of Public Prosecution, which exonerated the PDP chairman from the murder charge, Salvador should be released from the Kirikiri Prison.

Earlier, Mr. Olaitan Soetan, an Assistant Director from the DPP had informed the court that there was a new “development regarding” Salvador’s prayers in the counter suit. Mr. Lawal Pedro, Salvador’s defence counsel, also told the court: “The matter has been overtaken by circumstances.”

Aborishade was allegedly murdered on July 21, during a meeting of the PDP that held at Igbosuku Village, Eti-Osa LGA of the state.

Enugu Govt Seals Banks, Others over Non-payment of N200m Tax The Enugu State Board of Internal Revenue after obtaining court orders, yesterday carried out a distrainment exercise on four banks and two other private firms, located in Enugu metropolis and Nsukka, for non-payment of taxes due to the state government, totaling over N200 million.

The affected companies, according to the board’s Director of Back Duty Audit, Mr. Edwin Iyidiobi, who spoke to journalists after the exercise, include Guaranty Trust Bank (GTB) Plc; Sterling Bank Plc; Unity Bank Plc; Heritage Bank Ltd; Robertson Nig. Ltd and Paladium Hotels Ltd. Iyidiobi further disclosed that the business establishments were owing the state the following amounts: GTB (N46 million); Sterling Bank (72.2 million); Unity Bank (N22 million); Heritage Bank (53.8 million); Robertson Nig. Ltd (3.1 million) and Paladium Hotels Ltd (N3 million), totaling over

N200 million.

He added that the detrainment exercise became imperative “after several failed appeals to these companies that are indebted to us”, adding that “they did not comply with our request and of course being law abiding citizens we had to ask for court’s assistance”.

According to him, the exercise followed due process and was successful, saying: “We got court orders to seal off the affected companies, and distrain them until they pay what they owe the state government”.

Iyidiobi further explained that the taxes being owed the state government by the affected companies were in form of “unpaid Pay As You Earn (PAYE); under-remitted PAYE; under-remitted Withholding Tax; under-remitted Development Levy and interests and penalties charged on the under-remitted taxes as provided by the law.”

CIVIL SOCIETY COALITION

L-R: Member, League of Civil Society Groups, Ms. Vivian Obiorah; Public Relations Officer, Association of Retired Prisoner Officers, Mr. Chearls Emoakemeh; and Executive Secretary, Legislative Watch, Mr. Ngozika Ihuoma; during a press conference on the reinstatement of Abdulrasheed Maina in Abuja... yesterday PHOTO: Kingsley Adeboye

Electricity Workers Threaten to Shut down Power Nationwide Paul Obi in Abuja Workers under the auspices of Senior Staff Association of Electricity and Allied Companies (SSAEAC) yesterday threatened to ground the entire electric power structure in the country if their demands are not met.

The threat was issued following alleged administrative irregularities and high handedness leveled against the management of the Transmission Company of Nigeria (TCN).

The TCN emerged from the defunct National Electric Power Authority (NEPA), a consequence of the merger of the transmission and operations sectors on April 1, 2004.

The company also represents one of the 18 unbundled business units under the Power Holding Company of Nigeria (PHCN), and was issued a transmission licence on July 1, 2006. Its mandate includes electricity transmission, system

operation and electricity trading.

The development prompted workers of the organisation to picket the TCN premises in Abuja, where they disrupted vehicular movement and commercial activities for several hours.

They stressed that the protest came on the heels of TCN’s Managing Director, Usman Mohammed’s disregard for labour laws, demanding that he be relieved of his appointment by the government for flouting most of the administrative procedures.

According to SSAEAC General Secretary, Umar Abubakar, the MD single handedly conducted examinations for staff due for promotion without recourse to input from other management staff.

The protesters said efforts by the Minister of Labour and Employment, Chris Ngige, and his counterpart in the Ministry of Power, Works and Housing, Babatunde Fashola, to intervene

in the matter, proved abortive as Mohammed failed to turn up in several meetings arranged by stakeholders.

The protesters carried placards with various inscriptions i.e ‘We say no to tax fraud’, ‘Sack UG Mohammed now to guarantee hope for power sector’, ‘No to nepotism’ among others, as they were also seen chanting solidarity songs against the management.

SSAEAC said: “Our grievances stem from the fact that the MD on his own singled out promotion exercise and started conducting it in his own way through the aid of consultants, that to us is not the ideal process, he was even bragging that he set the questions himself. How can a managing director in an organisation like TCN in Nigeria organise or write promotion interview or questions? Except he has another motive in his mind.

“The motive is that he is not prepared to promote any staff,

especially those who are due and most qualified for promotion. He probably wants to pick people who are his ‘boys’ and who will be loyal to him, that is our suspicion.

“We have it on good authority that there were some containers loaded with equipment that was cleared from the ports but was not taken to the store, this again is not the proper thing to do.

“His own style of leadership is management of dishing out orders, if he is not around, nothing takes place, he believes he is the only person that can do everything, such thing doesn’t happen in an ideal organisation.

Is he the only person in the organisation? What then are the functions of the Executive Directors or General Managers?

“To cap it all and to prove his incompetence, the FIRS has sealed off our office over tax default, how can a responsible managing director claim to be in charge and this is happening?”

Zinox: Nigeria Must Develop Digital Culture to Leapfrog Technology Emma Okonji The Chairman of Zinox Computers, Leo-Stan Ekeh has said Nigeria must imbibe digital culture in order to leapfrog technology in the 21st Century.

Ekeh who was monitored on Arise Television yesterday, said the journey to digital economy is tough but insisted that the best way to go about it is to detach self from analogue to digital and imbibe the

digital culture that would make the county develop fast in the use of technology.

He called on governments at all levels to drive computer penetration in schools and equip schools with the right technology that would make students competitive in today’s digital world.

He cited an instance where the former governor of Anambra State, Mr. Peter Obi, contracted him to

develop computer loaded with learning applications for students in Anambra State. He said such initiative was expected from the government to boost computer education in schools.

Ekeh added that the reason why Nigeria still have high unemployment rate in the country is because schools produce analogue graduates without computer skills to create jobs for themselves and

for others. “ I developed a programme called ‘Digital Innovation’, which is supported by Microsoft to train students in computer education, and today the programme has trained several students in digital skills and that is what the country needs,” Ekeh said as a guest on Arise Television yesterday.

He said Zinox brand of computer is doing well in the market.

T H I S D AY ˾ WEDNESDAY AUGUST 15, 2018

53

54

͚ͽË&#x153; ͺ͸͚Î&#x20AC; Ëž T H I S D AY

WEDNESDAYSPORTS

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

House Moves against Sports Ministry, Proposes Executive Secretary for NSC Olawale Ajimotokan in Abuja Members of the House of Representatives Committee on Sports have proposed the discarding of the Ministry of Sports structure and instead revive the National Sports Commission (NSC) which is to be headed by an Executive Secretary or Chairman.

The Committee is also planning to hold a public hearing on the NSC Bill and ensure that it is passed by the end of the year and assented to by President Muhammadu Buhari.

A member of the House Committee on Sports, Hon Mohammed Nuhu Sheriff dropped the hint yesterday at the National Summit on Sports Development organised by the Committee in Abuja.

Hon Sheriff, who is representing Kalabalge Constituency in Borno State, said the Ministry of Sports had become amorphous and was the cause of the motley of problems bedeviling Nigerian sports.

Current Sports Minister, Solomon Dalung, phased out the NSC last headed by a DG, Alhassan Yakmut.

But speaking yesterday at the summit attended by many sports stakeholders, Sheriff said that for Nigeria sports to develop, a clear mandate of a professional with technical expertise to nurture sports was needed.

He said the expert must be in the mould of an executive secretary or chairman, but certainly not a Sports Minister. â&#x20AC;&#x153;Whatever way we want it,

we are just deceiving ourselves but we cannot continue to lie. I want to urge you at the sports summit to support the House Committee on Sports. We are working on it and I assure you by the end of the year this bill will be passed,â&#x20AC;? he promised.

He insisted a Sports Minister cannot oversee sports activities in

Nigeria, adding that the country can no longer afford to wait to see a minister of sports, who is a political appointee and without any prerequisite idea on how to run the ministry. â&#x20AC;&#x153;I will continue fighting until we get a bill that is backing the NSC, so that sports will be established with a clear

mandate to go to the grassroots, harness and bring youths that have the talents to the next level in Nigeria,â&#x20AC;? Sheriff said.

Speaker of House of Representatives, Hon Yakubu Dogara, who declared the summit open, said that contradictions in sports had made Nigeria to be in the doldrum, saying the

country only record accidental successes in sports as a result of policy errors.

Dogara, who also described the prevailing impasse at the NFF as uncalled for, said that the National Assembly will continue to pass legislature that will lead to effective sports development in the country.

UNDER-20 WOMENâ&#x20AC;&#x2122;S WORLD CUP

James Peters Slams Falconets over Poor Tactics against China Olawale Ajimotokan in Abuja Former Technical Director of Nigeria Football Federation (NFF), James Peters, has declared as negative the tactics adopted by the Super Falconets at the on-going FIFA U-20 Womenâ&#x20AC;&#x2122;s World Cup in France.

The Nigerians will confront Spain in one of the quarterfinal matches to be played in Concarneau on Thursday.

But giving his assessment yesterday, Peters, said the team should put its act together, improve on its tactic rather than depend on luck. â&#x20AC;&#x153;If we play like this without tactics- just keep hoping that if they score- we will score, then we will be out. We are not playing tactically. Rather, we are playing, â&#x20AC;&#x2DC;if God gives us victory, we will take itâ&#x20AC;&#x2122;. That is what we are playing â&#x20AC;&#x201C;no tactics,â&#x20AC;? Peters said.

Nigeria progressed into the quarter-finals after grabbing a 1-1 draw with China on Monday with the equaliser coming in the last minute of the added time the efforts of Aishat Bello and Rasheedat Ajibade. China rightback, Jiaxing Dou deflected the ball into the net for an own goal.

While offering insights into the performance of the team which lost 1-0 to Germany and edged Haiti in the other group fixtures, Peters said it amounted to bad tactics on the part of the team to always wait until the last minute before scoring.

Peters advised the team to be more tactical against Spain and exhibit instinct to score goals instead of playing attacking football only when they are pegged back. â&#x20AC;&#x153;Waiting until the last minute to equalize is a bad tactics. I expect them to be a bit tactical when we meet Spain. They should know what they are doing as a team. What are they doing up front when they lose the ball and how do they defend when the opponents take the ball? Are they doing pressing, or doing middle pressing and what are they going to do when they have the ball?â&#x20AC;?

Peters asked.

He said the whole team handled by Christopher Danjuma, should adopt the pressing from the backline approach against the Spaniards and stay behind the ball when they lose possession and defend as a whole team.

Meanwhile, substitute Aishat Bello whose last-gasp effort earned Falconets the one-all draw that qualified Nigeria for the quarter final has admitted that she thought the campaign was all over for her and her colleagues.

With Nigeria trailing 1-0 deep into second-half stoppage time the 17-year-old got in behind the Chinese backline on the right flank before playing in a well-driven cross towards Ajibade to finish up.

But in the haste to clear it away, the ball bounced on China right-back, Jiaxing Dou, before resting in the net for the equaliser that broke the hearts of the Far Easterners! â&#x20AC;&#x153;It was not easy. I was on the bench and I was thinking that maybe we had lost the game,â&#x20AC;? Bello told FIFA.com after Mondayâ&#x20AC;&#x2122;s game at the Stade du Clos Gastel.

After the Falconets has booked their passage to face winner of Group C, Spain, on Thursday, Bello took a deep breath before insisting that she knew Nigeria was not going to exit the tournament in the group stage. â&#x20AC;&#x153;But I gave myself confidence that we were not going to lose this game and that I have to do my best when I get on to get the result,â&#x20AC;? stressed Bello who from playing together with the rest of the team anticipated one of Nigeriaâ&#x20AC;&#x2122;s forward liners to latch up to her cross to finish up. â&#x20AC;&#x153;The good thing was my player (Ajibade) was there to finish for me, so I was very, very happy.â&#x20AC;?

Though it was a tough contest for Christopher Danjumaâ&#x20AC;&#x2122;s side against their Asian opponents, Nigeriaâ&#x20AC;&#x2122;s motivation never waivered, full in the knowledge that one goal would change their fortunes.

Rwanda President, Paul Kagame, running the jump ball for Giant of Africa Basketball Camp in Rwanda... recently

2019 FIBA WORLD CUP QUALIFIER

Diogu: No Rift between NBBF and Dâ&#x20AC;&#x2122;Tigers Dâ&#x20AC;&#x2122;Tigersâ&#x20AC;&#x2122; Captain, Ike Diogu, has blamed the conflicting schedule of the FIBA international calendar for the continued absence of members of the 2015 Afrobasket winning side from the national team fold.

Diogu dispelled rumours of conflicts between the players and the Nigeria Basketball Federation (NBBF) as reasons for their continued absence saying the players remain patriotic and ready to serve.

As captain of the menâ&#x20AC;&#x2122;s senior national team, the Sichuan Blue Whales of China player confirmed that he

has continued to maintain communication with the players.

Diogu said the conflicting international calendar of FIBA for the qualifiers has not really helped the 2015 team who have all expressed their readiness to feature for Dâ&#x20AC;&#x2122;Tigers.

He said it will be unfair to compare him (who plays in China) with other players in the NBA and Europe with longer seasons. â&#x20AC;&#x153;The good thing with me playing in China is that I have a lot of flexibility as my season is a lot shorter

than these guys playing in Europe or NBA. â&#x20AC;&#x153;I donâ&#x20AC;&#x2122;t really need much notice but some of these guys need more of the notice than they are given, so they are not able to get out of their engagements.â&#x20AC;?

The player who has continued to be a regular in the team under Alex Nwora confirmed that the bulk of the 2015 set are ready to be part of the project being embarked on by the federation. â&#x20AC;&#x153;I talked to Stan Okoye, Olaseni Lawal, Al-Farouk and Alade Aminu, Chamberlain Oguchi. All of those guys

want to be here and support us. We are one big family and there is no animosity.

There is nobody who does not want to play, we all love playing for Nigeria.â&#x20AC;?

He is hopeful that come September, some of the players will be around to help the team qualify for the 2019 FIBA World Cup. Lagos, Nigeria is hosting Group F which Senegal, Central Africa, Rwanda, Cote dâ&#x20AC;&#x2122;Ivoire and Mali between the 14th and 16th of September.

Nigeria currently lead the pack with 12 points from 6 games.

Masaiâ&#x20AC;&#x2122;s Giants of Africa Lists Coaches for Nigerian Camp Giants of Africa have named the coaches that will work with young basketball talents for the Nigerian leg of the programme which has been slated for August 21 to 25 in Lagos. The list was released before the young players of Uganda rounded off their programmes following the initial tip off in Kigali, Rwanda on August 6.

The talent search programme started by Masai Ujiri and a few partners 15 years ago had Rwandan President, Paul Kagame in attendance in Kigali.

The foreign coaches named for the 2018 programme are Masai Ujiri, Jama Mahlalela, Patrick

Engelbrecht, Joe Touomou, Godwin Owinje, Harry Ezenibe, Eric Khoury and Arsalan Jamil. Most of these coaches have been working with GOA since inception.

The Nigeria-based coaches are Adeka Daudu, Lateef Erinfolami, Emmanuel Odah, Peter Ahmedu and Michael Akuboh.

Giants of Africa, the not-for-profit co-founded by Toronto Raptors president, Masai Ujiri a fortnight ago announced they will visit seven countries across the African continent this August. Celebrating its 15th anniversary, Giants of Africa has committed to hosting basketball camps and community outreach initiatives in Rwanda,

Uganda, Democratic Republic of Congo, Kenya, Nigeria, Ivory Coast and Senegal.

Ujiri said, â&#x20AC;&#x153;Over the past 15 years, I have seen the impact basketball can have not only on one kid, but also on their entire community. â&#x20AC;&#x153;When I started Giants of Africa, I envisioned providing African youth access to the game and empowering them to achieve their greatest potential. With 63% of Africaâ&#x20AC;&#x2122;s population below the age of 25, we have a huge goal and responsibility to help them develop. We are excited that this year we are able to extend our reach further across the continent to help

realize that dream.â&#x20AC;?

Giants of Africa youth camp held in Rwanda from August 6 to 8 and then moved to Democratic Republic of Congo from August 10 to 11. The programme is holding in Uganda from August 13 to 14; Kenya from August 16 to 19, Nigeria from August 21 to 24 and conclude in Senegal from August 26 to 28. The organization will host girlsâ&#x20AC;&#x2122; camps in tandem with its boysâ&#x20AC;&#x2122; camps in Kenya, Nigeria and Senegal. Giants of Africa will also activate local outreach initiatives in the communities of Kakuma, Maiduguri as well as Bingereville, Ivory Coast.

55

͚ͽË&#x153; ͺ͸͚Î&#x20AC; Ëž T H I S D AY

WEDNESDAYSPORTS

Ban Looms on Nigeria Football as FIFA Gives Deadline Duro Ikhazuagbe and Femi Solaja

The quadrennial threat to Nigeria football is in the air again following yesterdayâ&#x20AC;&#x2122;s notice to Nigeria by the world football governing body, FIFA, for the country to resolve its football administration crisis or face a lengthy ban from all global tournaments.

Aside Nigeria, fellow West African country, Ghana, is also in the same ring but yesterdayâ&#x20AC;&#x2122;s final warning would be the fourth time since 2006 that FIFA would be directly involved in postFIFA World Cup tournament administrative affairs of the country leading to ever volatile election process into the Glass House!

In the media release from Zurich yesterday, the world body seems to have ran out of patience over the festering crisis and announced the decisions of Bureau of FIFA Council in relation to undue influence in the affairs of the Nigeria Football Federation (NFF) and the Ghana Football Association (GFA).

The statement read: â&#x20AC;&#x153;In line with art. 16 par. 1 of the FIFA Statutes, the Bureau of the FIFA Council decided that if by Monday, August 20, 2018, at 12:00 (CET), the Nigeria Football Federation (NFF) offices are not handed back to the legitimate NFF executive committee under President Amaju Melvin Pinnick, who was duly elected on 30 September 2014, the NFF will be suspended with immediate effect for contravening art.

14 par. 1 i) and art. 19, as well as art. 14 par. 1 a) of the FIFA Statutes.

It stated that the suspension would be lifted only if the status quo of Confederation of African Football (CAF) Vice President, Amaju Pinnick and the scribe of NFF, Mohammed Sanusi are allowed to function in their respective official capacities. â&#x20AC;&#x153;The suspension would be lifted only once the NFF, under President Amaju Melvin Pinnick and General Secretary Mohammed Sanusi, confirms that it has been given back effective control of the NFF and its offices. â&#x20AC;&#x153;Furthermore, the Bureau decided that if the suspension of the NFF takes effect, the Nigerian team currently competing in the FIFA U-20 Womenâ&#x20AC;&#x2122;s World Cup France 2018 will still be allowed to continue to participate in the tournament on an exceptional basis given that the tournament is underway. â&#x20AC;&#x153;In Ghana, it is noted that formal investigation proceeding are currently being carried out by the chairperson of the investigatory chamber of the Ethics Committee against Mr Kwesi Nyantakyi, who has been provisionally suspended by a decision taken by the chairperson of

Nigeria Football Federation President, Amaju Melvin Pinnick (left) and FIFA President, Gianni Infantino at a football event in Zurich, Switzerland.... recently

the adjudicatory chamber of the Ethics Committee. â&#x20AC;&#x153;However, the Bureau of the Council considers that the petition introduced by the Attorney General to the High Court of Justice to start the liquidation process of the GFA constitutes undue influence in the affairs of the GFA in contravention of art. 14 par. 1 i) and art. 19 par. 1 of the FIFA Statutes. â&#x20AC;&#x153;Under these circumstances, the Bureau decided that if the petition to start the liquidation process of the GFA is not withdrawn by Monday, 27 August 2018 at 12:00 (CET), the GFA will be suspended with immediate effect. The suspension would be lifted only once the above-mentioned petition is withdrawn and FIFA is given written proof thereof,â&#x20AC;? it stated.

Nigeriaâ&#x20AC;&#x2122;s constant threat to suspension on administration problems by the world soccer body is dated back to 2006 after the FIFA World Cup which the Super Eagles failed to qualify to play for the first time since its debut at USA 94 event.

The then Chairman of the Nigeria Football Association (NFA), Alhaji Ibrahim Galadima, was coerced to step down by the presidency through the Federal Ministry of Sports and thus midwifed the coming of Alhaji Sani Lulu Abdullahi as the newly elected president.

However, after the World Cup finals in South Africa where Super Eagles did not go beyond the preliminary stage, the then President of the country, Dr. Goodluck Jonathan, was wrongly advised to pull the national team out of all competitions to enable a total reorganisation of the game from the grassroots instead of perennial participation at global events without any chance of meaningful impact.

FIFA thereafter place Nigeria under suspension which was lifted on 8th of October two days to October 10 AFCON qualifying match against Guinea in Conakry after the President rescinded the initial statement to withdraw Nigeria from international tournaments.

Four years later, after

Super Eagles second round exit at Brazil 2014 and with another election into the board of the NFF slated for the following month, the federationâ&#x20AC;&#x2122;s helmsman, Alhaji Aminu Maigari was ousted through an emergency congress initiated by the then Sports Minister, Tammy Danagogo.

On July 23 of the same year, eight out of the 13 board members passed a vote-of-no-confidence on Maigari and was replaced by the 1st Vice President, Mike Umeh who was in charge in acting capacity.

But with FIFA ban looming and Falconetsâ&#x20AC;&#x2122; fate of participating at the FIFA Women U-20 World Cup tournament in Canada about to vanish, the rebels within the NFF board were flushed out with the active support of the Department of State Service (DSS) for sanity to return to the administration of the Beautiful Game in the country once more.

FIFA thereafter restored Nigeria back into its fold of football playing nations.

With Maigari out of the picture, a supposed level playing field was declared for all contestants. Then began the present lingering crisis that has been on since 2014 between Amaju Melvin Pinnick and Christopher Giwa.

The inability of the two groups to agree on the date for the elective congress to usher in a new executive led to two different elections in Abuja and Warri.

The Giwa group who were not sure of getting the majority of the NFF stakeholders ignored the September 29 FIFA approved congress in Warri and held its own election at Chida Hotel in Abuja where Christopher Giwa emerged President of NFF on August 26.

To preempt the election in Warri from holding, the Giwa group sought and got a court injunction stopping the FIFA approved elective congress from taking place.

Some how, NFF claimed it did not receive any court order stopping the Warri election from going ahead.

At a well-attended General Assembly at the BrownHill

Event Centre in Warri, the former Delta State Sports Commission Chairman, Pinnick, was elected the new president of the NFF. But the Giwa group would not accept, insisting that a court order was flouted in getting Pinnick elected.

They went back to court to nullify that election. He got judgment in his favour and tried to take over the Glass House.

Pinnick and his board appealed the judgment and won. Not satisfied, Giwa went to the Supreme Court.

The apex court however referred the case back to the lower court for retrial.

However, Sports Minister, Solomon Dalung, who is from Plateau State like Giwa preferred to carry out what he called the decision of the Supreme Court by asking the Giwa FC proprietor to take over the affairs of the football house even before Pinnick returned home after Eagles crashed out of the World Cup in Russia.

Dalung also claimed that he was carrying out the Supreme Court ruling as interpreted by the office of the Attorney General of the Federation (AGF).

Even when another letter emanated from the AGF office asking the minister to stop further heating of the football polity with his interpretations of the case, Dalung simply ignored the directive from the Presidency, claiming it did not emanate from President Muhammadu Buhari.

Watchers of the events playing out in Nigeria football space are however wondering why all the attempts to claim a mandate that does not exist when the next NFF board elections are slated for next month in Katsina?

Perhaps, this new threat of ban from FIFA might put the matter to rest when Nigeria finally gets the chop from global football by next Monday, August 20.

How the Giwa group reacts to this warning from Zurich and the following action or inaction from the presidency in Abuja might be the final determinant of this nearly four-year old dispute.

Governorâ&#x20AC;&#x2122;s Tennis Cup Rebrands to Lagos Open Femi Solaja After an interrupted 17 years of staging Governorâ&#x20AC;&#x2122;s Cup Lagos Tennis tournament, the organisers, yesterday decided to transform the annual event into Lagos Open in order to give the event an elevated global status.

The Chairman of Central Working Committee (CWC) of the tournament, Chief Pius Olu Akinyelure stated this at a press conference to herald this yearâ&#x20AC;&#x2122;s edition of the competition which will hold from 29th September to 13th of October.

He explained that the intention of the organisers was to move the tournament from Futures status to Challenger circuit which will enable higher profiled international players like Rafael Nadal, Roger Federer, Novak Djokovic, the Williams sisters (Serena and Venus) and Angela Keber to grace the annual tournament.

According to him, â&#x20AC;&#x153; this is the 18th edition of the event meaning it has attained manhood and there is the need to upgrade from the present status to the next level. Aside that, from 2020, the Futures Tour will no longer attract Association of Tennis Professionals (ATP) ranking points and therefore menâ&#x20AC;&#x2122;s tennis will effectively begin at the Challenger level. This is part of the International Tennis Federationâ&#x20AC;&#x2122;s attempt to reduce the number of professional

players from around 14,000 to approximately 750 men and 750 women,â&#x20AC;? he explained.

He noted that the implication of the transformation is that menâ&#x20AC;&#x2122;s Future will no longer be attractive to professional tennis players nor to sponsors and the CWC as no choice than to elevate the event from the coming years.

In a bid to meet the international standard practice, the committee has engaged OE &E Marketing firm represented

by Mr. Tony Agenmonmen and Mr. Ehi Braimah to rebrand the tournament. A new logo for the annual event was also unveiled during the programme. â&#x20AC;&#x153;This transition comes with a lot of benefits especially in the calibre of players participating, advanced on and off court infrastructural upgrade and equipment, electronic scoreboards, tennis line technology, higher level tennis officials and officiating, training of local technical officials and ball boys,â&#x20AC;? he remarked.

He said the this year will be the valedictory edition of Futures tennis which is made of two futures in F5 and F6 with players participating in four events namely; menâ&#x20AC;&#x2122;s singles, menâ&#x20AC;&#x2122;s doubles, womenâ&#x20AC;&#x2122;s singles and womenâ&#x20AC;&#x2122;s doubles.

Players from about 40 countries have signified their intention to participate in the annual event with the total prize money still at $100,000.

Arsenal, WorldRemit Launch Future Stars Training Camp Arsenal Football Club and digital money transfer experts, WorldRemit, are offering local coaches the chance to attend an exclusive new training camp with Arsenalâ&#x20AC;&#x2122;s top youth coaches in London. The shortlisted 25 coaches are to be rewarded with Arsenal kit. WorldRemit will arrange for the successful applicant to fly to London, where they will attend an exclusive training camp with Arsenal Soccer Schoolâ&#x20AC;&#x2122;s coaches.

During the camp they will work on plans to use the training to build a lasting legacy in their home country. The camp will be free to apply for and open to youth team (under 16s) coaches from across Africa.

Coaches simply need to complete the short online application form at www. futurestars.worldremit.com by August 27 explaining why they deserve to be granted this unique opportunity and the legacy they plan to build on their return home.

Speaking on the programme, the CEO of WorldRemit, Ismail Ahmed, said apart from the organisation making sending

money easier, they also help their customers do more for those they care about. â&#x20AC;&#x153;When we set up our partnership with Arsenal, one of our goals was to reward hard-working individuals within the community. Football connects people from all walks of life so this was a natural place to start,â&#x20AC;? he said.

On his own part, Simon McManus of Arsenal Soccer Schools said: â&#x20AC;&#x153;In this Centenary year of Mandela, it is a fitting time to recognise and reward those individuals who have harnessed the power of sport for the benefit of young people across Africa. â&#x20AC;&#x153;A strong commitment to the community is one of the values we share with our partners at WorldRemit and together we hope to build a lasting legacy and to shine the spotlight on these unsung heroes who give up their time to help to deliver a brighter future for others. â&#x20AC;&#x153;We are looking forward to working with all the coaches that join us in London as part of the Future Stars programme.â&#x20AC;?

Utaka Foundation Team Hits 2018 SATUC World Cup Final Nigeriaâ&#x20AC;&#x2122;s representative in the ongoing 2018 SATUC Five-aSide Football World Cup, John Utaka Foundation Football Team, fought hard yesterday to beat host Bulgaria 1-0 in the semifinal to sail through to the final of the competition.

The highest goal-scorer of the team and tournament, Arafat Hussain, scored Nigeriaâ&#x20AC;&#x2122;s lone goal in the match this increase his goals to seven scored so far in the competition.

Nigeria will now meet Liberia who walloped Morocco 5-1 in the other semifinal today in the final of the competition.

The Sports Minister, Solomon

Dalung, in a commendation letter sent to the team read thus: The Minister of Youths and Sports Development Barrister Solomon Dalung highly commend the efforts of the John Utaka Foundation underprivileged football team in winning all their matches so far in the 2018 SATUC World Cup meant for the underprivileged kids across he globe especially beating the host team Bulgaria to qualify for the final of the competition. â&#x20AC;&#x153;We are indeed proud of the contingent and Nigeria will be supporting the team with their prayers to come back home with the trophy,â&#x20AC;? concludes the statement.

TR

Wednesday August 15, 2018

UT H

& RE A SO

N

Price: N250

MISSILE Peterside to Wike

â&#x20AC;&#x153;Wike may have blocked all the loopholes/leakages, but he remains the pipeline of corruption in the government. Wikeâ&#x20AC;&#x2122;s commissioners can testify to the fact. He is the sole awarding authority for contracts, he is the supervising authority, the certifying authority and the sole beneficiary.â&#x20AC;? â&#x20AC;&#x201C; Rivers State All Progressives Congress (APC) chieftain, Dr. Dakuku Peterside, stating that the state Governor Nyesom Wike will not be re-elected.

CHIDIAMUTA GUEST COLUMNIST

Boko Haramâ&#x20AC;&#x2122;s Intellectual Challenge

T

he shooting war in Nigeriaâ&#x20AC;&#x2122;s troubled North East is winnable in the long run. But the restoration of peace and order in the afflicted area will be a protracted and frustrating process.

While the Nigerian military is experienced in fighting conventional wars with clear front lines, a known enemy and knowable objectives. I am not so sure about our capacity for unconventional, let alone psychological warfare. Even more tasking is a war that touches on some of the raw sectarian and cultural nerves that sustain our yet unsettled federation. With Boko Haram, a prodigal version of a major faith has been weaponised.

Boko Haram detests western education and civilization even if spreads its message via the Internet. It prefers a theocracy to a secular state. Its diehard jihadis would prefer to live in a caliphate ruled by mullahs deriving ultimate authority from the Islamic holy book with ultimate accountability to Allah .

All these run counter to the fundamental secular assumptions on which the Nigerian state is founded.

Nigeria is supposedly pursuing modernisation through western education tempered by local sensibilities. The grund norm of Nigeriaâ&#x20AC;&#x2122;s secular state remains the constitution. Nigerians remain free to worship whatever they like in any way they choose for as long as such worship does not violate the rights of other citizens nor question the supremacy of the ultimate guarantor of our secular order: the federal government.

The critical battle in Nigeriaâ&#x20AC;&#x2122;s counter insurgency war against Boko Haram , therefore , ought first and foremost to be a battle for the hearts and minds of those citizens whom the terrorists have indoctrinated away from the secular essence of national communal living. Citizenship of the state precedes candidacy for heavenly salvation.

The second battle is the physical one in the arid and semi arid theatres of the north east.

It is much easier to buy bigger guns than the terrorists. It is also straightforward to physically outgun terrorists even though it can be quite dangerous. Over time, those who try to press their viewpoint through IEDs, surprise attacks on soft targets and suicide bombing can be put out of business by a determined military and security apparatus.

The military is well within its professional limits if they focus on the physical defeat of the insurgents. Their task is to secure the territorial integrity of the Nigerian space and ensure a peaceful and orderly environment in which citizens are free to believe and worship.

But that professional imperative is proving daunting. It is daunting because the territory occupied by Boko Haram is not strictly physical; it is an area of belief, lodged in the mind. It is mental and intractable because it is lodged in the terrain of faith. Its dangerous faith has gained some ground because the social and economic desperation of its host communities makes â&#x20AC;&#x2DC;another lifeâ&#x20AC;&#x2122; an attractive prospect. These people see no prospect of earthly happiness in the present order and so readily embrace the promise of fulfillment in heaven as espoused by most faiths. In this psychological wilderness, a military that sees sovereignty as physical territory is limited. Today, national territorial sovereignty must now encompass a community of feelings

Chief of Army StaďŹ&#x20AC;, Lt-General-Buratai

and beliefs, not just space.

Thus, the mental reconversion of whole populations away from the jihadist mindset on which Boko Haram germinated and took roots is a tougher battle. I doubt that this psychological warfare has even begun in Nigeriaâ&#x20AC;&#x2122;s north east.

That is one reason why Boko Haram is proving a more stubborn adversary than planners previously projected.

Therefore when the Dapchi girls were returned to the town by a flotilla of mysterious â&#x20AC;&#x2DC;Boko Haramâ&#x20AC;&#x2122; vehicles, it was an excited citizenry that trooped out to greet the terrorists as heroes. That fleeting symbolic moment ought to have sent a lesson to our military strategists.

The design and deployment of an appropriate psychological operation to win back the hearts and minds of the people is not strictly a matter for the military. It is a collaborative and multi faceted.

It is first and foremost an intellectual challenge requiring serious research and deployment of educationists, community development personnel , development experts and right minded Islamic scholars. We need to quickly

de-radicalize our kids in the north east as well as the general population.

The road to mental reconversion will lead to where we should have started: the desperate poverty and economic depression of the region- statistics on education, GDP and entrepreneurship etc.

In a bid to deepen my understanding of the altered state of our national security, I have made a curious discovery. Boko Haram has an intellectual challenge which may not have interested those engaged in our anti-terrorism campaign. So many books have recently been published internationally mostly by foreign writers intent on a better understanding of Nigeriaâ&#x20AC;&#x2122;s security.

Most of the books are written by non Nigerians with intellectual . interest in the subject. Through them, one gets unusual insight into the origins, motivations, complexity and strategic meaning of Boko Haram.

(1. Associated Press- Boko Haram, Deadly Terrorism in Nigeria 2. I. B Taurus- Boko Haram, Deadly Terrorism in Nigeria 3. Andrew Walker- Harrowing of Nigeria and the Rise of Boko Haram 4. Ed. Marc- Antoine Perous de Montclos- Boko Haram, Islamist, Politics, Security and the Nigerian State 5. Virginia Comolli- Boko Haram, Nigeriaâ&#x20AC;&#x2122;s Islamist Insurgency 6. Alexander Thurstan - Boko 6.

Haram, the History of an African Jihadist Movement 7. Helon Habila- The Chibok Girls, The Boko Haram Kidnappings 8. N.I.O & D.L-B - Boko Haram, Between Myth and Reality).

Nearer home, nothing illustrates the intellectual deficiency of Nigeriaâ&#x20AC;&#x2122;s anti terrorism war than the fabled immortality of Mr. Shekau.

The notorious arrowhead of the theocratic uprising has â&#x20AC;&#x2DC;diedâ&#x20AC;&#x2122; at least half a dozen times by the claims of the Nigerian military. The fellow has greeted each tale of his demise with more viral videos of his familiar taunts of Mr. Buhari and other world leaders bent on liquidating his brand of fundamentalist madness.

What remains curious and even inexplicable

In a bid to deepen my understanding of the altered state of our national security, I have made a curious discovery. Boko Haram has an intellectual challenge which may not have interested those engaged in our anti-terrorism campaign.

So many books have recently been published internationally mostly by foreign writers intent on a better understanding of Nigeriaâ&#x20AC;&#x2122;s security

is that on a few instances ofShekauâ&#x20AC;&#x2122;s legendary â&#x20AC;&#x2DC;deathsâ&#x20AC;&#x2122;, the military has displayed photographs of his lifeless body. In an age of accurate DNA sampling, dental record mapping and precise satellite guided monitoring of high value targets and extensive use of human intelligence, it is incomprehensible that a modern military apparatus cannot say with certainty whether its most valued target is dead or alive.

Beyond political grand standing by the military high command, a proper perspective of the Boko Haram insurgency must see the totality of its strategic implications for our national security and survival.

The overall doctrine of Nigeriaâ&#x20AC;&#x2122;s security and defense policy has not changed since the civil war: to keep nigeria united at all costs and to maintain an atmosphere of peace and order in which our diversity can thrive.

But in the first four decades after the war, other challenges to the post war order have emerged.

The post civil war order in which huge sectional blocs were structurally incapacitated and replaced by a strong federal government (â&#x20AC;&#x2DC;federal mightâ&#x20AC;&#x2122;) has in recent times become untenable. Threats from micro nationalism, renascent ethnocentrism and radical sectarian revivalism have emerged to question the prevailing order. The federal government as ultimate guarantor of order has become enfeebled by political and economic disabilities. Itâ&#x20AC;&#x2122;s Security umbrella is in tatters and dangerously overstretched.

Preoccupied with regime political survival, successive administrations have found little time to strategize on the plight of the federation. Each of the new threats to our national continuation dictates a fresh doctrine based on the geo strategic importance of the specific theatre of insecurity.

The Niger Delta is self evident. It is the soft underbelly of the federation that harbors the nationâ&#x20AC;&#x2122;s current energy heart and economic life line.

The south east is a bit more problematic. It is the home base of the single most widespread/ dispersed nationality in the country. Open direct antagonism against the Igbos will quickly destabilize every section of nigeria.

The middle belt is the mid section of the great cultural and sectarian divide that is also the strength of the federation.

The North east theatre of Boko Haram is more dangerous strategically. It is part of the heartland of Islamic nigeria. It has borders with Nigeriaâ&#x20AC;&#x2122;s vulnerable neighbors where however French is spoken and franceâ&#x20AC;&#x2122;s African defense umbrella dovetails with nigeriaâ&#x20AC;&#x2122;s national survival interests.

There are other small incidental forces at play including the gangs that frequently emerge at night to kill and maim in Zamfara, Nasarawa, Taraba, Adamawa, Yobe etc.

Any defense and security doctrine that approaches all areas of Nigeriaâ&#x20AC;&#x2122;s insecurity experience from a uniform strategic perspective is outmoded and even foolish. It is time for our national defense and security to assume a deeper, more rigorous intellectual approach. Boots on the ground can not trample to death an enemy whose base camp is in the hearts of many. r %S $IJEJ "NVUB B .FNCFS PG 5IJTEBZ &EJUPSJBM #PBSE JT $IBJSNBO 8JMTPO 8FJ[NBOO "TTPDJBUFT -BHPT

Printed and Published in Lagos by THISDAY Newspapers Limited. Lagos: 35 Creek Road, Apapa, Lagos. Abuja: Plot 1, Sector Centre B, Jabi Business District, Solomon Lar Way, Jabi North East, Abuja.

All Correspondence to POBox 54749, Ikoyi, Lagos. EMAIL: editor@thisdaylive.com, info@thisdaylive.com. TELEPHONE Lagos: 0802 2924721-2, 08022924485. Abuja: Tel: 08155555292, 08155555929 24/7 ADVERTISING HOT LINES: 0811 181 3085, 0811 181 3086, 0811 181 3087, 0811 181 3088, 0811 181 3089, 0811 181 3090. ENQUIRIES & BOOKING: adsbooking@thisdaylive.com