WEDNESDAY 17TH OCTOBER 2018

Rising Inflation Triggers Fear of Interest Rate Hike James Emejo in Abuja The renewed inflationary pressure in the economy may compel the Central Bank of Nigeria (CBN) to raise interest rate just as it strives to maintain exchange

rate stability, economists said yesterday. The National Bureau of Statistics (NBS) report released yesterday showed that the Consumer Price Index (CPI), which measures inflation increased by 0.05

per cent to 11.28 per cent (year-on-year) in September compared to 11.23 per cent in the preceding month. According to the CPI report for September, released by the statistical agency, increases were recorded in all the

indicators, which determined the headline index. Food inflation rose to 13.31 percent in the month in review compared to 13.16 per cent in August. Core inflation stood at 9.80 per cent from 10.0 per cent in

the preceding month. However, in month-onmonth, the headline index slowed to 0.84 per cent from 1.05 per cent in August. According to the NBS, urban inflation rate increased by 11.70 per cent (year-on-year)

in September from 11.67 per cent in August, while rural inflation rate also increased by 10.92 per cent within the review period from 10.84 per cent in the preceding month. Continued on page 10

FG Demands In-country EPC Work for NLNG’s Train 7… Page 11 Wednesday 17 October, 2018 Vol 23. No 8582. Price: N250

www.thisdaylive.com TR

UT H

& RE A S O

N

Finally, N’Assembly Approves INEC’s N242bn Election Budget... Page 10

Buhari Calls Hauwa’s Father, Says Everything Was Done to Save Her Life Atiku, Senate, ICRC, others condemn killing Deji Elumoye, Omololu Ogunmade, Olawale Ajimotokan, Kasim Sumaina and Adedayo Akinwale in Abuja President Muhammadu Buhari yesterday in Abuja spoke with Mr. Mohammed

Leman, the father of Hauwa, the International Committee of the Red Cross (ICRC) midwife, who was executed by Boko Haram terrorists on Monday. He said the government did everything possible to save her life. The president, according to

his Senior Special Assistant on Media and Publicity, Malam Garba Shehu, in a statement, commiserated with the family, through a telephone call, assuring the deceased's father that the Nigerian government did everything possible to save his daughter's life.

According to the statement, the president expressed sadness that all the efforts made were unsuccessful. It also said the president regretted that the late midwife's commitment to helping victims of Boko Haram insurgency ended in such a

brutal way. The statement added that Buhari also spoke with the President of the ICRC, Mr. Peter Maurer, extending his condolences to him on the loss of the midwife. It also said the president commended the ICRC for

the great work the committee had been doing in Nigeria, including the provision of healthcare services to victims of insurgency in some of the affected areas. "President Buhari appealed Continued on page 10

DIFFERENT STROKES FOR DIFFERENT FELLOWS...

L-R: Ekiti State Governor, Dr. Kayode Fayemi; his wife, Bisi; and the Chief Judge of Ekiti State, L-R: Former Minister of Aviation, Chief Femi Fani-Kayode; former governor of Ekiti State, Mr. Justice Ayodeji Daramola, during Fayemi’s inauguration at the main bowl of the Ekiti Parapo Ayodele Fayose; and Rivers State Governor, Chief Nyesom Wike, during Fayose’s visit to the Pavillion in Ado-Ekiti… yesterday Economic and Financial Crimes Commission Headquarters, Abuja…yesterday

2

T H I S D AY ˾ ͯ͵˜ ͰͮͯͶ

T H I S D AY ˾ WEDNESDAY OCTOBER 17, 2018

3

4

T H I S D AY ˾ ͯ͵˜ ͰͮͯͶ

T H I S D AY ˾ WEDNESDAY OCTOBER 17, 2018

5

6

T H I S D AY ˾ ͯ͵˜ ͰͮͯͶ

T H I S D AY ˾ WEDNESDAY OCTOBER 17, 2018

7

8

T H I S D AY ˾ ͯ͵˜ ͰͮͯͶ

T H I S D AY ˾ WEDNESDAY OCTOBER 17, 2018

9

10

WEDNESDAY, ͹Ϳ˜ ͺ͸͹΀ ˾ T H I S D AY

PAGE TEN

Finally, N’Assembly Approves INEC’s N242bn Election Budget Senate investigates $3.8bn subsidy recovery fund Deji Elumoye, Shola Oyeyipo and Chineme Okafor in Abuja The Senate and the House of Representatives yesterday passed the Independent National Electoral Commission (INEC) budget for the conduct of 2019 general elections, approving N242 .245billion for the polls. Both chambers approved the estimates forwarded to them by President Muhammadu Buhari and subsequently ended several months of impasse, which stakeholders had feared might jeopardise the conduct of the polls. But there might still be issues of the source of the funding of the budget as the legislature insisted that it should be vired from the N500 billion approved for the Special Intervention Programme (SIP) in the 2018 budget instead of the National Assembly’s special projects votes as requested by the president. In the Senate, senators altered proposals made for the Nigeria Police Force (NPF), the Department of State Service (DSS) and office of the National Security Adviser (NSA). While the Police in the original proposal forwarded to the National Assembly by the president through a virement seeking letter in July has N30bn earmarked for it, Senate approved N27.341bn just as it also reduced the N12,213,282,455 proposed

for DSS to N10.213bn. The N5bn raked from Police and DSS earlier budgetary projections for the elections were, however, added to N4,281,500,000 earmarked for the office of the National Security Adviser jerking it up to N9.481bn. The N189bn budgetary proposals for INEC, N2.628bn for National Immigration Service (NIS) and N3.573bn for the Nigeria Security and Civil Defence Corps, were, however, retained and approved as requested for by the president. The approvals were sequel to the recommendations made to that effect by the Appropriation Committee. The committee in its report presented at plenary by its Chairman, Senator Danjuma Goje, also differed with the president on source of virement for the N242bn. While the president in his July letter, urged the federal lawmakers to vire the money from the N578bn special votes they inserted into the N9.12trillion 2018 budget through addition of about 1,403 projects, the Senate in its approval directed that the virement should be from both the recurrent and capital estimates of SIP. Specifically, N194.7 bn out of the N242bn would be vired from N350bn recurrent component of the SIP while the balance of N47.498bn would be vired from its N150bn capital component.

Breakdown of the N242bn 2019 elections budget as proposed by President Muhammadu Buhari in the virement seeking letter include Independent National Electoral Commission (INEC) N189,207,544,893.00bn; Office of the National Security Adviser (ONSA) N4.281bn; Department of State Security (DSS) N12.213bn; Nigeria Security and Civil Defence Corps N3,573,534,500.00bn; Nigeria Police Force N30,541,317,432.00bn and Nigeria Immigration Service N2,628,143,320.00bn. In his remarks, the Senate President, Dr Bukola Saraki, said, "The much expected elections budget has been passed and approved here in the Senate. "It is the hope of the National Assembly and Nigerians generally that with this approval, INEC and other relevant agencies will ensure credible , free, fair and safe elections come 2019."

Senate Investigates $3.8bn Subsidy Recovery Fund The Senate also resolved yesterday to probe alleged mismanagement of $3.8Billion Subsidy Recovery Fund, SRF, by the Nigeria National Petroleum Corporation, NNPC. This is sequel to a motion moved at plenary by the Minority Leader, Senator Biodun Olujinmi, who

came under Orders 42 and 52 to draw the attention of the Senate to the alleged mishandling of $3.8billion Subsidy Recovery Fund (SRF) in the custody of the NNPC. The senator while speaking on the matter of urgent national importance accused both the Managing Director and an Executive Director of the NNPC as sole signatories to the fund "without recourse to the National Assembly Joint Committee on Appropriation". The account, she said, had become a slush fund and therefore urged the Senate to compel its Committee on Petroleum (Downstream) to ask the NNPC on why the fund was being managed by the executive without the knowledge of the legislature. Contributing, Senator Ali Ndume, opposed the suggestion that the Committee on Petroleum (Downstream) be allowed to look into the matter saying, "That call may not be necessary because if the committee had done its oversight properly it would have known what was going on with the fund." Ndume who sat close to Senator Buka Abba said he had just been told by Abba "that the committee had been compromised. The Chairman of the Committee on Petroleum (Downstream), Senator Kabir Marafa, responded, saying he took exception to Ndume's reservation about his committee's competence

although he also alluded to the fact that the said money may have become a slush fund. Saraki, while accepting the need to look into the matter, however, stressed the need for the upper legislative chamber to be guided by facts and figures. "Let us go by the fact available before us on this matter. I will not want us to be partisan," he said. The Senate president then named the Senate Leader, Senator Ahmad Lawan, as the Chairman of an Ad-hoc committee that would look into the matter and report back to the Senate in four days. The Senate leader in his reaction said he would decline to serve on the committee but was overruled by the Senate president who said, "Leader of Senate, there is no way you can exonerate yourself from leadership so you will chair the ad-hoc committee."

NNPC Denies $3.5bn Subsidy Fund, Says $1.05bn Was Raised Instead However, the NNPC has denied claims by the Senate that it has in its custody a $3.5 billion subsidy fund managed by its top management. Rather, the corporation said in a statement sent to THISDAY last night by its Group General Manager, Public Affairs Division, Mr. Ndu Ughamadu, that it raised

and kept $1.05 billion subsidy fund with the Central Bank of Nigeria (CBN). It explained that at the heat of the shortage of petrol supplies towards the end of 2017, the National Assembly asked it to do everything possible to stem the supply shortage and it initiated a revolving fund of $1.05billion for this purpose. NNPC stated that since it was, and still is the sole importer and supplier of petrol in the country, it had to do this, adding that ever since then, the fund had been domiciled in the CBN and not in its custody. According to NNPC, the fund is called the National Fuel Support Fund, and had been jointly managed by it; CBN; Federal Ministry of Finance; Petroleum Products Pricing Regulatory Agency (PPPRA); Office of the Accountant General of the Federation (OAGF); the Department of Petroleum Resources (DPR); and the Petroleum Equalisation Fund (PEF). It also said it did not independently spend a dime of the fund, noting that it was meant to ensure stability in petroleum products supply in the country. Additionally, Ughamadu said in the statement, “For the avoidance of doubt, the corporation was fully aware that it is only the National Assembly that has the statutory responsibility to appropriate on petroleum subsidy matters.”

BUHARI CALLS HAUWA’S FATHER, SAYS EVERYTHING WAS DONE TO SAVE HER LIFE to the ICRC to continue their services in Nigeria, and not give up, despite the unfortunate and painful loss of their staff. "According to the president, Nigeria needs the ICRC and the government will continue to do all it can to protect staff of the organisation and other aid workers that are providing much-needed humanitarian services in the North-east region, which had been affected by almost a decade-long conflict," the statement added.

Atiku, Senate, ICRC, others Condemn Killing The presidential candidate of the Peoples Democratic Party (PDP), Alhaji Atiku Abubakar, in his reaction condemned the killing of Hauwa. In a statement by his campaign organisation, he

described the incident as a crime against humanity. He said, “While nothing can bring her back, the Atiku Abubakar Presidential Campaign Organisation wishes to assure the family of the innocents, whose lives have been brutally cut short, that we will continue to work with our partners in Nigeria and the international community to ensure that those who are still in the captivity of the terrorists and their allies are rescued alive. “We pray to Almighty God to grant the family fortitude and succour in these trying times. We also pray for God to be with our security forces and grant them every advantage over the enemies of our nation.” Atiku called on all Nigerians to continue to support the armed forces as they take the battle to the terrorists

and their sponsors. The Senate also condemned the killing in strong terms, noting that humanitarian workers who work in crisis zones to provide necessary support for victims are most selfless and courageous persons and, therefore, should never be targets of harm. It observed a two-minute silence in honour of Leman following a motion raised by the Deputy Senate President, Senator Ike Ekweremadu, and subsequent debate on the issue, where the Senate resolved to pay official condolence visit to the family of the deceased. Senators further resolved to ensure that the federal government, through its security agencies, takes necessary measures to secure the freedom of both Leah Sharibu and other surviving members of the ICRC being

held hostage by the insurgents. Speaking on the resolution, Senate President Bukola Saraki said, “Distinguished Colleagues, irrespective of the decision that we have taken, I believe that our committees on defence and security, as part of their own responsibilities, should engage with the security agencies to find out if there are other issues that need to be addressed in order to prevent the reoccurrence of such sad incident.” He also commiserated with the family of the deceased and the ICRC over the unfortunate incident and stated that the Senate would continue to work with the nation’s armed forces to stop the killings and improve security across the country. Hauwa, 24, was killed Monday after the expiration of the deadline given to the federal government to meet

certain conditions before she and her colleague as well as Sharibu could be freed. She became the second aid worker to be killed by the terrorists who abducted three nurses and midwives from Rann, Borno State on March 1, 2018. Saifura Hussein had earlier been killed about a month ago leaving only Alice Loksha Ngaddah as the sole person still held hostage by the terrorist group, which is a faction of the Boko Haram group. The ICRC in a statement yesterday by its spokesperson for Nigeria, Aleksandra Mosimann said, “A second health worker held hostage in Nigeria has been murdered. It's utterly devastating that we have to write that sentence.” It added, “The ICRC received information indicating that Leman has been killed

heels of the marginal uptick in food prices, following the aftermath of pastoral conflicts which was further amplified by episodes of flood in the food producing regions of the country. “These, in conjunction with the dissipating base effects from the prior year led to the slight increase in the headline Inflation. Over the rest of the year, we expect the Headline inflation to remain at double digit levels. “This is based on our expectation of elevated system liquidity emanating from the 2018 budget spending, election related expenditures, higher Federation Account Allocation Committee (FAAC) disbursement occasioned by

the uptick in oil prices, and the possibility of an increase in the minimum wage. “That said, we expect the uptick in headline inflation to increase at a slightly faster pace in the coming months as the impact of the episodes of flood which ravaged some food producing states (Adamawa, Benue, Kano, Niger just to mention a few) becomes more pronounced,” the firm added. Similarly, Cowry Asset Management Limited, pointed out that the recent flooding in September “was yet to reflect in the figures as food inflation slowed month-on-month to one per cent (from 1.42% in August); hence we anticipate sustained upward pressure on food prices in October.”

RISING INFLATION TRIGGERS FEAR OF INTEREST RATE HIKE It stated that on a monthon-month basis, the urban index rose by 0.86 per cent in September, down by 0.14 from 1.00 per cent recorded in August, while the rural index also rose by 0.82 per cent, down by 0.14 per cent from the 0.96 per cent in August. It added that the corresponding twelvemonth year-on-year average percentage change for the urban index was 13.58 per cent in September, less than 13.95 per cent reported in the previous month, while the corresponding rural inflation rate was 12.80 per cent compared to 13.21 per cent in August. CBN Deputy Governor, Dr. Joseph Nnanna, had warned

about plans to increase the interest rate in response to higher inflation ahead of the general elections in February 2019. Nnanna had said, “The central bank will tighten policy to respond to higher inflation. There’s a scope to raise rates before the elections in February. The central bank is still in the mood for tightening. How fast are we going to tighten is what members haven’t agreed upon.” But reacting to the latest inflation data, Research Analyst at FXTM, Lukman Otunuga, pointed out that with consumer prices rising for the second consecutive month after 18 months of

steady declines, concerns would heighten over inflation edging away from the Central Bank of Nigeria’s six-nine per cent target. “Market expectations over an interest rate cut anytime soon are likely to diminish further following today’s inflation report. “The combination of rising inflation, uncertainty ahead of the 2019 elections, global trade tensions and United States rate hike expectations are all likely factors to force the CBN to remain status quo this quarter,” Otunuga added. Also, commenting on the latest inflation figures, Lagos-based CSL Stockbrokers Limited, noted that the rise in headline inflation came on the

by her captors in a despicable act of cruelty. Hauwa is the second abducted health worker in Nigeria to be murdered in the last month.” In a quote credited to ICRC’s Regional Director for Africa, Patricia Danz, read, “The news of Hauwa’s death has broken our hearts,” adding, “We appealed for mercy and an end to such senseless murders. How can it be that two female healthcare workers were killed back-to-back? Nothing can justify this.” In the statement, Hauwa was described as full of life, becoming a midwife at an early age, “People who knew her described her as a sociable, Continued on page 11

TOP GAINERS NGN NGN % UPDC 0.16 1.77 9.9 CUTIX 0.18 2.03 9.7 UNILEVER 2.30 43.50 5.5 FBNHOLDINGS 0.30 9.25 3.3 CADBURY 0.30 9.80 3.1 TOP LOSERS NGN % BETA 7.80 70.20 10.0 JBERGER 2.35 21.55 9.8 NIGERINSURE 0.03 0.30 9.0 JAPAUL 0.02 0.21 8.7 UNIVINSURE 0.02 0.21 8.7 HPE Nestle Nig Plc ₦1,400.00 Volume: 662.021 million shares Value: N5.312 billion Deals: 3,025 As at yesterday 16/10/18 See details on Page 39

11

WEDNESDAY, ͹Ϳ˜ ͺ͸͹΀ ˾ T H I S D AY

NEWS

PDP Rallies 39 Parties on Consensus Candidate Again, Buhari promises free, fair elections in 2019

Adedayo Akinwale in Abuja The Peoples Democratic Party (PDP) yesterday continued its bid to upstage the All Progressives Congress (APC) from power as it rallies its 39 allies in the Coalition of Political Parties (CUPP) to a meeting that would begin the process of selecting a consensus presidential candidate that would challenge President Muhammadu Buhari in the 2019 general elections. The meeting, which was chaired by the Chairman of the CUPP Steering Committee, Prince Olagunsoye Oyinlola, had in attendance the National Chairman of Social Democratic Party (SDP), Chief Olu Falae; the National Chairman of the PDP, Prince Uche Secondus; Reformed All Progressives Congress (R-APC) Chairman, Alhaji Buba Galadima; Leadership of National Intervention Movement, Alhaji Tafawa Belewa; former Cross River State governor, Senator Liyel Imoke; and all the chairmen of the coalescing parties. A statement by the spokesperson of the coalition, Mr. Ikenga Ugochinyere, revealed that the meeting was held at Shehu Musa

Yar’Adua Center, Abuja where the decision was taken to start the process that would lead to the eventual selection of the consensus candidate for the major opposition parties in Nigeria. According to him, “The CUPP chieftains pledged their readiness and commitment to forge a common front to chase out the incompetent APC led administration, and rescue the country from the gradual drift to the state of economic hopelessness and reign of impunity.”

Again, Buhari Promises Free, Fair Elections in 2019 Meanwhile Buhari has reassured Nigerians and the international community that the forthcoming general elections in 2019 will be free and fair, saying it would usher the country into another clime of maturity, peace and unity. He gave the assurance when he received Letters of Credence from four ambassadors at the State House, including the Ambassador of the Peoples’ Republic of Japan, Yutaka Kikuta. The president noted that

Secondus the country’s political and electoral institutions had continued to evolve in strength, skill and experience after each election. He said, “We are currently at the threshold of another general election and after

five general elections in the country since 1999, we expect that the 2019 elections will be free and fair. “The political system is good and if people work hard they will succeed.’’ According to him, the

increase in number of political parties that will field candidates in 2019 elections indicates more democratic consciousness among Nigerians and willingness to serve the country. Receiving Letter of Credence from the Ambassador of the Russian Federation, Alexey Shebarshin, the president noted that discussions on reviving the Ajaokuta Steel Complex, partnerships in agriculture and other bilateral interests in trade and economic development would be sustained. He commended the country for always standing by Nigeria. “We have opened discussions on the Ajaokuta Steel Complex, and we will continue,’’ he added. The president told the Ambassador of Brazil, Richardo Guerra De Araujo, that the historical ties between both countries and the shared potential for growth would be further explored. He stressed that this would be done with strong emphasis on economic and social development. He noted that the number of Nigerians in Brazil had already provided a strong reason for deeper and richer

discussions for both countries. Receiving the Letter of Credence of the Ambassador of United Arab Emirates, Fahad Al Taffaq, Buhari assured him that Nigeria remained committed to strengthening the bilateral relationship that has existed between both countries for many years. The president said the courtesies extended to Nigerians in the United Arab Emirates was commendable, and assured the envoy that his administration would continue to strengthen business and trade relations between both countries. In his remarks, the Ambassador of Japan said his country remained grateful for Nigeria’s concern and support during the flooding that devastated the country. He promised to work hard to further enhance relations in technology, agriculture and trade. The Ambassadors of Russia, Brazil and United Arab Emirates assured the president that they would work hard to ensure improved relations in key sectors of the economy. They all wished Nigeria the best in the forthcoming elections.

FG Demands In-country EPC Work for NLNG’s Train 7 Chineme Okafor in Abuja The federal government has said that the engineering, procurement and construction (EPC) work for the planned $7 billion Nigeria Liquefied Natural Gas (NLNG) Limited Train 7 plant would be done in the country by mostly Nigerian companies. The government through the Executive Secretary of Nigerian Content Development and Monitoring Board (NCDMB), Mr. Simbi Wabote, said this yesterday at a public workshop to discuss opportunities for the Nigerian content aspect of the NLNG Train 7 plant. The workshop was organised

by the NLNG. Wabote said the era of building such big projects in modules abroad and then shipped to Nigeria to be coupled, was over. He explained that the government would now assess such new projects with what has been achieved with the Egina Floating Production Storage and Offloading (FPSO) oil platform built by Total. Wabote said, "I know how we insist on some of these local content requirements (from the international oil companies (IOCs). If you leave them alone, they will build this Train 7 in modules and then ship them from England or Netherlands

and then take them straight to Bonny and couple them. That is not going to happen. We are going to build the Train 7 in-country because we have the capacity." He equally explained that the NCDMB was confident the NLNG Train 7 plant would come through unlike some other oil and gas projects that have been in the pipeline for years now. The NLNG has been adjudged as one of Nigeria’s most successful corporate organisations. It is a private limited liability company owned by the federal government, represented by the Nigerian National Petroleum

Corporation (NNPC) with 49 per cent stake; Shell - 25.6 per cent; Total - 15 per cent and Eni - 10.4 per cent. Also, the company recently announced it was shopping for $7 billion to expand its operations, adding that the expansion project will see to the construction of an extra gas processing facility and investment in upstream gas production which will ensure sustainable supply of feed gas to its existing Trains 1 to 6 and the new train. NLNG equally indicated the target Final Investment Decision (FID) date for the new train is the fourth quarter of 2018. Speaking at the workshop,

NLNG's Managing Director, Mr. Tony Attah, said the company’s planned Train 7 project, which would increase production output of its plant by 35 per cent from 22 Million Tonnes Per Annum (MTPA) to 30 MTPA, would improve Foreign Direct Investment (FDI) into Nigeria. He said 2019 would mark the company’s 30th year in existence and 20th year of operation as a global company. The company in a presentation on an overview of the Train 7 project said opportunities exist for incountry fabrication of pressure vessels, pipes, flare stack among others.

In the area of procurement of equipment and materials, the company said in-country opportunities exist for Nigerian companies to supply cement, fuel, lubricants and vehicles including earth moving equipment. In construction, it noted that opportunities exist in consulting services, installation, commissioning and inspection, testing and certification. The NLNG said Nigerian companies can take advantage of opportunities to supply logistics including marine and air transport for thousands of workers than would be engaged when construction of the new train begins.

Edith Yassin, joined by the coconvener, Mrs. Obi Ezekwesili and other group leaders, including Nifemi Onifade and Gapani Yanga, described the killing of Hauwa as extremely shocking and heart-breaking news. She said the group was gutted by the deeply regrettable consequences of government’s failure in preventing her death. The movement echoed concern about the heightened threat to the lives of both Ngaddah and Sharibu which had become imminent in the light of the threat issued by their captors. ’’ Yesterday Leman mother, called me to say that her daughter had been killed but I never confirmed the execution to her because it would make her miserable. But given that Saifura was killed by the terrorists, there is clearly a danger to the other captives who are extremely vulnerable to atrocities of the terrorists. Such concerns must not be taken lightly and we

join our voice to those of their families, the employers of Alice and Hauwa, of UNICEF and ICRC, respectively, as well as others around the world to demand for immediate actions that will avert any tragic loss of life. Mr President, you must act now and deliver results of immediate rescue,” Yassin said. She tasked government to ensure the safe return of all people held captive, including the remaining 112 Chibok girls. She also called on Buhari to match his words and promises to secure the release of all Nigerians abducted by terrorists with firm actions that will yield results, saying no other outcome that will be acceptable. The BBOG leader reiterated the exact seven demands the group tabled during its last protest last month, adding that nothing had changed regarding the engagement of the federal government on the issue it raised on that occasion.

BUHARI CALLS HAUWA’S FATHER, SAYS EVERYTHING WAS DONE TO SAVE HER LIFE dynamic and enthusiastic woman, who was much loved by family and friends. She was truly dedicated to her work helping vulnerable women in her family’s home area.” Hauwa and Saifura worked in a health-care centre supported by the ICRC; Alice worked in a centre supported by UNICEF. It said the ICRC made sustained and committed efforts to secure the release of the three health-care workers, including a lastminute plea for mercy last Sunday to the ISWAP group, to no avail. “Hauwa and Saifura’s deaths are not only a tragedy for their families, but they will also be felt by thousands of people in Rann and other conflict-affected areas of North-east Nigeria where accessing healthcare remains a challenge. We urge the group holding Alice and Leah to release them safely,” Danzi was also quoted as saying.

Amnesty International: Killing is a War Crime Also reacting, Amnesty International stated that the killing of Hauwa constituted a war crime, as the perpetrators demonstrated a brazen disregard for her life. In a statement made available to THISDAY yesterday and signed by the Director of Amnesty International Nigeria, Ms. Osai Ojigho, the body said it was wrong to kill Hauwa, who was only providing desperately needed humanitarian services to people affected by the conflict in the North-east She noted that under international humanitarian law, all aid workers must be protected from attacks. According to Ojigho, “Boko Haram must immediately and unconditionally release the remaining health worker, Loksha. As news of these grizzly killings emerges, the Nigerian authorities must re-

double their efforts to rescue the hundreds of civilians still detained by Boko Haram including 15-year-old Leah Sharibu, who was abducted from her school in Dapchi town, and the remaining Chibok girls. “All those responsible for war crimes and other human rights violations and abuses in Nigeria must be brought to justice in a fair trial,” she said.

of human life is not to be toyed with. According to him, "Killing another aid worker whose only crime is dedicating her life to make life better for others confirms that Boko Haram has sunken to its lowest level of weakness yet.”

Global Amnesty Watch Expresses Shock

The Bring Back Our Girls (BBOG) yesterday marched to the Presidential Villa in protest over the brutal execution of Hauwa. The group expressed fear that the failure to release the 15-year-old Sharibu, could lead to a dire consequence. The BBOG procession left Unity Fountain along Shehu Shagari Way early in the morning. But the protesters were, however, prevented by security operatives before they approached the Presidential Villa’s first gate. The Chairman of BBOG,

Similarly, a human rights group, the Global Amnesty Watch (GAW) expressed shock over the murder. A statement yesterday in Abuja by Tom Lever, in-charge of its Africa Regional Office, described Hauwa's killing as barbaric, unacceptable. He said such an act must be met with the harshest retribution possible to serve as deterrence to Boko Haram and any other terror group in the world that the sacredness

BBOG Protests Killing, Fears for Sharibu’s Safety

WEDNESDAY OCTOBER 17, 2018 ˾ T H I S D AY

12

NEWS

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

Buhari Guarantees Performance as Fayemi Takes Charge in Ekiti Gov makes first appointments, to probe into state’s finances Victor OgunjeinAdoEkiti Having been elected in the fiercely contested July 14 governorship election, former Minister of Mines and Steel Development, Dr. Kayode Fayemi, was yesterday sworn in as the new governor of the state, with President Muhammadu Buhari expressing unwavering confidence on the ability of Fayemi to deliver democratic dividends to the people. Fayemi has also announced his first set of appointments. Fayemi trounced the candidate of the Peoples Democratic Party (PDP) in the poll, Prof Kolapo Olusola, with a marginal victory of about 19,028 votes. Buhari, who was represented at the event by the Secretary to the Government of the Federation (SGF),

Mustapha Boss, said Fayemi as a former member of the Federal Executive Council (FEC) had persistently be disturbing him about the development of the state. Fayemi , who was dressed in white Agbada and brown cap to match was sworn in by the Chief Judge of the state, Justice Ayodeji Daramola, amid cheers from admirers and party members that filled the main bowl of the Ekiti Parapo pavilion along old Iyin road, Ado Ekiti capital city at about 11.45a.m. Earlier, his Deputy, Chef Bisi Egbeyemi, took the oaths of office and allegiance at about 12.20p.m. The governor also inspected the guard of honour after the police parade that ushered in his government.

Dignitaries at the ceremony included a former Lagos State Governor, Bola Ahmed Tinubu; Chief Bisi Akande, National Security Adviser (NSA), Babagana Monguno; Minister of Agriculture, Chief Audu Ogbeh; former Senate President, Chief Ken Nnamani; Ex-APC National Chairman, Chief John Oyegun, and former Ekiti State Governors, Otunba Niyi Adebayo, and Bamidele Olumilua and ex-Bauchi State Governor, Isa Yuguda. Governors at the event were: Governors of Ogun State, Ibikunle Amosun; Oyo State, Abiola Ajimobi, Kebbi State, Atiku Bagudu; Kaduna State, Nasir El-Rufai, Lagos State, Akinwumi Ambode; Ondo, Rotimi Akeredolu; Bauchi State, Mohammed Abubakar, among

other Nigerians and diplomatic community who graced the occasion. The president added that Fayemi would afford him the opportunity to redirect Ekiti State to the path of greatness and abundance in terms of economic prosperity. Buhari pleaded passionately with Ekiti voters over his reelection bid in 2019, saying he has a lot to offer Nigerians if given the opportunity to be reelected during the contest with former Vice President Atiku Abubakar, the presidential candidate of the PDP. He said: “I know Dr. Fayemi very well; he has always cherished anything that has to do with the development of this state. As Ekiti State governor between 2010 and 2014, he instituted some laudable

projects that impacted positively on the lives of the people and this pavilion was one of them. “I know that he will do what is right to justify this mandate. I charge him not to relent in his efforts to serve the state with passion, commitment and candour. “The federal government has given supports to states in the areas of bailouts, budget support, ecological funds and Paris club refunds, of which Ekiti State was a beneficiary. “We have extended the standard rail project to Ekiti State and the construction of the federal secretariat will soon be completed. The federal government is also planning to dualise Ado-Akure road and reconstruct Ado-Ikare road for the use of our people. We have

also built another 133kva power source in the state that will be inaugurated soon. “As of today, 11,000 Ekiti indigenes are benefiting from the N-power programme of this administration. “We are confident that Fayemi will help cover the lost grounds brought by past administration. From today, you will begin to have a new breath in the state under the present government”, Buhari said. Speaking earlier, Fayemi said his government would work hard to bring succour to the populace, by removing the cankerworm of corruption that has eaten deep into the state’s fabrics under the

Continued on page..50

Fayose Honours EFCC’s Invitation over Corruption Allegations Alex Enumah in Abuja The immediate past Governor of Ekiti State, Ayo Fayose, yesterday arrived at the old Head Office of the Economic and Financial Crimes commission (EFCC) to answer alleged corruption allegations against him by the federal government. Fayose, who arrived at the commission’s office in Wuse 2 area of Abuja at exactly 12.59p.m., was accompanied by Rivers State Governor, Nyesome Wike, into the waiting hands of former Aviation Minister, Femi Fani-Kayode; Senior Advocate of Nigeria, Mike Ozekhome, human rights activist and member of Bring Back Our Girls campaign group, Deji Adeyanju, and a crowd of teaming supporters The former governor, who wore a jean trouser and a blue T-shirt with the inscription ‘EFCC I am Here’, told journalists that he was at the commission in line with his promise to honour the EFCC’s invitation on October 16, 2018. He also carried a small bag believed to contain some of his personal effects. “I’m here in line with my promise, that I would be here on October 16, and like I said to EFCC, they should await my arrival. This morning, they have been to my house, they condoned off my street. I feel personally it is unnecessary, it’s unwarranted. When a man says he is coming, Nigerians should be given the benefit of the doubt,” he said. Fayose, however, assured EFCC that he was prepared to answer any question the anti-graft agency would be ready to ask him, adding that he would respond appropriately. Also speaking, Rivers State Governor, Wike, who decried EFCC’s harassment of the former governor, warned that the commission should ensure that Fayose came out healthy just as he was going in. Similarly, Ozekhome, who joined Wike to appeal to the EFCC to ensure that nothing happens to Fayose while in their custody, noted that what the federal government is doing is to instill fear in the people. However, an operative of the

EFCC, who simply identified himself as Katugo, while welcoming Fayose to the commission, assured his supporters and lawyers that the commission would treat Fayose with due respect. He was then led into the Idiagbon House of the EFCC to answer to charges of corruption, accompanied by Wike, Fani-Kayode and three of his lawyers, including Ozekhome, at exactly 1.04p.m. Barely few minutes later, the governor of Rivers State came out and drove off, leaving Fayose, Fani-Kayode and the erstwhile governor’s lawyers inside the EFCC building. certained if Fayose would be allowed to go home today. Recall that his party has alleged plans by the EFCC to keep him in its custody indefinitely. The EFCC had in a letter dated September 13, 2018, asked the then governor to appear before it on September 20, 2018 for investigation over some corrupt allegations. Fayose, however, in his reply informed the commission that he would be only predisposed after he left office as governor of Ekiti State come October 16. The letter read: “Several and serial actions of your commission for some time now, including but not limited to freezing of my accounts and attempts to secure temporary forfeiture of my properties, are indicative of the commission’s desire to have me clarify some issues or answer some questions but for the immunity that I enjoy under Section 308 of the 1999 Constitution as sitting governor of Ekiti State. “I wish to inform you that my term of office pursuant to which I enjoy immunity against investigation and prosecution under the above provision shall lapse by effusion of time on October 15, 2018. “As a responsible citizen of our great country, who believes in the rule of law, I wish to inform you of my decision to make myself available in your office on October 16, 2018, at 1p.m. to clarify issues or answer questions on issues within my knowledge. “Kindly confirm the suitability of the above date or indicate by return, the commission’s convenient date.”

IN SOLIDARITY...

National Leader, All Progressives Congress, Senator Bola Tinubu (left), and the party’s Deputy National Chairman (South), Chief Niyi Adebayo, during the inauguration of Ekiti State Governor, Dr. Kayode Fayemi, in Ado-Ekiti...yesterday

Senate Summons IG over Melaye’s Alleged Death Threat Deji Elumoye in Abuja The Senate yesterday directed the Inspector General of Police (IG), Ibrahim Idris, to appear before its Committee on Police Affairs over alleged threat to the life of Senator Dino Melaye. The Senate Leader, Senator Ahmad Lawan, is to join the Senate Committee on Police headed by Senator Abu Ibrahim to look at the alleged threat to Senator

Melaye’s life. Senate President, Dr. Bukola Saraki, advised the committee to critically look into the allegation by inviting the IG to provide answers to some of the questions and allegations raised by Melaye. Melaye, representing Kogi West, had raised a point of order during plenary to chronicle series of threats to his life by the Kogi State Command of the Nigeria Police and the state Governor,

Yahaya Bello. He urged the Senate to order Idris to restore his police details, which were withdrawn since April, in order to guarantee his security, especially as the campaign period is around the corner. According to him, it is very clear, given the chronology of events that the Kogi State governor is using the Nigeria police in his bid to stop

his political ascendancy, to assassinate him. “I have made several reports to local and international organisations to alert them of the looming plot to kill me by Governor Bello, using the Nigeria Police Force, especially, the state Commissioner of Police. I firmly believe that the security of lives and property of every Nigerian citizen should be of paramount concern to the government.

Adeleke Files Petition at Osun Election Tribunal Yinka Kolawole in Osogbo The governorship candidate of the Peoples Democratic Party, (PDP), in Osun state, Senator Ademola Adeleke, has filed a petition against the declaration of the candidate of All Progressives Congress (APC), Alhaji Gboyega Oyetola, as the winner of the September

22 and rerun of September 27. He submitted the petition to the Secretariat of the election petition tribunal in the state high Court, Osogbo, yesterday evening The applicant who was represented by the Chairman of the party in the state, Hon. Soji Adagunodo, expressed

optimistism that he will reclaim his mandate. Adagunodo and some chieftains of the PDP with their legal team, arrived the court around 5:30 p.m and proceeded to the Secretariat of the tribunal. Speaking with journalists, Adagunodo said the party has hope in the judiciary as

the last hope of the common man. Reacting to the invitation of the party’s candidate for forgery, Adagunodo said it is diversionary. “They know that the game is up. We are up to the game; whatever trick they are bringing, we are ready. It won’t work,” he added.

T H I S D AY ˾ WEDNESDAY OCTOBER 17, 2018

13

14

T H I S D AY Ëž Ëœ ÍŻÍľËœ Í°ÍŽÍŻÍś

COMMENT

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

RIGGING OF 2019 PRESIDENTIAL ELECTION Sonnie Ekwowusi calls for vigilance during the Presidential election

W

hat is giving the Presidency and the President Buhari camp so much hope that Buhari will be declared winner of the 2019 Presidential election despite the fact that he has plunged the country into a huge mess? Rigging. Except the forth-coming Presidential election is rigged in favour of President Buhari he will fail miserably at the polls. This is the subject matter topping public discourses these days. Most Nigerians are concerned that the 2019 Presidential election might be rigged in favour of Buhari. If you have not been following the conversations I suggest you do so. In the print media, on social media, in market places, in beer parlours, in offices, in sports and recreational centres and other public places conversations are raging on the possibility of rigging the 2019 Presidential election in favour of the incumbent president. In his article on the back page of this paper last Tuesday Reuben Abati excited many readers. He opined that considering that Abubakar Atiku (who has now wisely picked Peter Obi as his running mate) is a much more fancied candidate than Buhari the only option left for Buhari in order to win the Presidential election is to indulge in rigging. Incidentally the aforesaid Abati’s article has gone viral. It is being read and discussed on social media. So, the fear that the 2019 Presidential election might be rigged in favour of Buhari is real. Not imagined. The fear is reinforced by the fact that Buhari has become a huge liability to the APC. Prior to 2015 Buhari was perceived as the man who could reorder Nigeria. But today he has become the disorder himself. This is a notorious fact requiring no proof. Even Buhari’s lovely wife Aisha has since passed a vote of no confidence on her husband. Besides, most Nigerians are simply fed up with Buhari. As a result they feel that he should give another person a chance to excel where he has failed. Owing to the incessant killings of the indigenes of North-East by the Fulani herdsmen most voters in the North-East will not vote for Buhari. Except INEC decides to allocate free votes to Buhari in Southern Kaduna, no indigene of the area in his right senses will vote for him. Ditto for the indigenes of Benue State. Why? Because Benue State has become the killing field of the Fulani herdsmen murderers. I do not foresee many voters in Adamawa, Taraba, Nasarawa, Kwara, and Plateau States voting for Buhari for obvious reasons. Neither will voters in Sokoto, Zamfara, Southern Borno or the Chibok area be keen on voting for Buhari. Yoruba land at the moment is divided over Buhari. It is not unlikely that reprisal voting might be recorded against Buhari in the Yoruba swing states. Except Buhari rigs his way in Igbo land he will get little or no votes there. Why? Because he has thoroughly humiliated the Igbos. Buhari vowed to punish the Igbos for not massively voting for him in the last presidential election. And he is indeed punishing the Igbos. For instance, he had denied Igbos juicy political appointments. He has desecrated Igbo land with pythons. Buhari went as far as sending military pythons to invade and damage Igbo land in what was tagged Operation Python Dance 1 & 11 (Egwu Eke 1 & 11). The first invasion took place from November 28 to December 27, 2016 in the five South East states of Abia, Anambra, Ebonyi, Enugu and Imo. The second python invasion occurred from September 15 and ended on October 14, 2017 in the same five Igbo states. Despite the stiff opposition to the invasions, the pythons did incalculable damage in Igbo land. The video clips of the invasions show that several civilians were either murdered or badly injured or publicly flogged or harassed or hounded by the pythons during their various sting operations. If not that the Presidential election is approaching Buhari was even

NIGERIANS WHO MONITORED THE OSUN STATE GOVERNORSHIP ELECTION ARE STILL QUESTIONING THE INDEPENDENCE, IMPARTIALITY AND TRANSPARENCY OF THE PROF. YAKUBU-LED INEC

contemplating sending Python Dance 111 (Egwu Eke 111) to do more damage in Igbo land. Therefore, no sane Igbo man or woman will vote for Buhari in next year’s Presidential election. The deduction from the foregoing is that Buhari is not a saleable candidate anymore. He cannot win any free and fair Presidential election. The only way he can win is through scientific rigging. The scientific rigging that occurred in Edo, Ekiti and Osun governorship elections are indications that the 2019 Presidential election might be rigged in a similar manner. Nigerians who monitored the Osun State governorship election are still questioning the independence, impartiality, transparency of the Prof. Mahmood Yakubu-led INEC. The people were shocked that after the State Returning officer Mr. Joseph Adeola Fuwape allegedly received a telephone call from highest quarters he announced that the Osun election was inconclusive. Therefore INEC needs close monitoring from now until the 2019 elections are over. The Oxford dictionary defines rigging as managing or conducting something fraudulently so as to gain an advantage. Therefore election rigging means election fraudulently conducted to the advantage of the rigger. Which means that rigging of an election goes beyond snatching of ballot boxes or other electoral malpractices and gerrymanderings committed at the polling booths or some other places on Election Day. Election rigging is the manipulation of the whole electoral process to the advantage of a particular candidate or a particular political party. This manipulation often goes on undetected. It starts at the voters’ registration exercise. Once the voters’ registration list is fraudulently procured, the elections conducted with it are bound to be tainted by fraud. Right now we don’t even know whether the voter registration list that would be used by INEC in conducting the 2019 elections is the true list or fake one. We don’t even know the part of the country in possession of the largest quantity of PVCs and how they would use them to rig the 2018 elections. I am aware that many eligible voters do not even have the PVCs with which to vote in 2019, meaning that they have been disfranchised. What are the true identities of the INEC personnel appointed by Buhari to conduct the 2019 elections? It would require the utmost degree of impartiality, honesty and integrity on the part of INEC officers especially the Resident Electoral Commissioners (REC) and Electoral commissioners, to conduct the 2019 Presidential election efficiently, honestly and impartially. But unfortunately many INEC officers will not be unbiased umpires in the conduct of 2019 elections. Some are secret card-carrying members of some political parties. Others are on the pay-roll of some political parties. Therefore perpetual vigilance is called for as the Presidential election approaches. Certainly a compromised voters’ registration list begets a compromised election. Worst still, a compromised INEC begets a compromised election. It would be fool-hardy for the PDP to assume that it will win the Presidential election by the fact that it is presenting Atiku-Peter Obi ticket. The APC has not stopped boasting of its rigging machinery. Buhari is a bad loser. The last time he lost the Presidential election he threatened violence. Therefore he will do everything possible to ensure that Atiku does not defeat him in the forth-coming Presidential election. Mind you, the tussle between Buhari and Atiku is more than an electoral tussle: it is a tussle of pride; a tussle for supremacy. Buhari is no pushover. He could do something before the election to win cheap popularity. For instance, he could secure the release of Leah Sharibu to win last-minute approbation. Therefore it is not over until it is over.

THE BEST FOOT FORWARD

Atiku Abubakar’s Presidency will stem the slide downhill, contends Chidiebere Nwobodo

T

rhe die is cast. The stage is set. History beckons. Nigerians are about to witness the fiercest political rumble in the annals of our political life come 2019. The primary election of former vice-president Waziri Atiku Abubakar as presidential candidate of the Peoples Democratic Party has practically altered the entire political permutations cum matrix, as far as next year’s presidential election is concerned. It’s a different ball game now. Atiku’s historic crowning as the PDP candidate—in an election adjudged as the most freest, transparent and rancour-less presidential primary recorded—even by his co-aspirants, has sent jitters into the camp of the All Progressives Congress and by extension, Buhari’s presidency. There has been uneasy calm in the ruling APC since Atiku emerged. They’re fidgeting and sweating profusely not only because a candidate was thrown up by a credible process, but the electoral consequences of facing a political war veteran and masterstrategist. The palpable fear among Buhari’s hardliners is that the political colossus called Atiku Abubakar has the virile and entrenched machinery to dismantle sophisticated rigging armoury aimed at stopping his election as next president of Nigeria. His vast and formidable political structures across the six geo-political zones

of the Nigeria are what the APC dreads so much. Buhari Media Center (BMC)—the APC’s propagandistic outfit where all the prejudiced narratives and flawed conjectures of Buhari’s government are cooked-up has been gasping for breath since Atiku was announced winner of the PDP primary in Rivers State. They have been in mourning mood since the PDP ended its elective convention without crisis. Firstly, these propagandists planned unleashing media onslaught on the opposition, with the hope that the PDP would come out of the keenly contested primary divided and fractured. Their ignoble expectations were dashed by the quintessential governor Ifeanyi Okowaled Electoral Panel Committee, who raised the bar of electoral process and subsequently exposed the INEC’s gross incompetence and brazen partisanship as seen in the commission’s recent outings in Ekiti and Osun. Having successful walked on the thin ice of presidential primary that produced the most prepared economic maverick and cosmopolitan candidate for the office of the president, the PDP has passed its greatest test and overcame a complex web of hurdles on its sojourn to Nigeria’s seat of power. By electing Atiku as its candidate and skillfully managed to keep the big umbrella house united after a rigorous contest, the PDP has succeeded in handing over the baton of electoral race to Nigerian masses on the streets

to take back their country from tyrants, economic neophytes, managerial greenhorns and ethno-religious supremacists. The euphoric acceptance of Atiku’s candidacy by Nigerians across ethno-religious cum geo-political zones, as observed in their psyched reactions, quaked the fledgling foundation of Buhari’s presidency. Its ‘terrific’ impact reverberated in Buhari Campaign Organisation, which out of panic propelled Festus Keyamo—the campaign spokesman into releasing already deflated and punctured propaganda against Atiku Abubakar. Nigerians, out of patriotic volition, are the ones blowing up BMC’s jagged propaganda against Atiku mid-air, even before it crash lands. All the insidious fallacies targeted at maligning his largerthan-life image are dead on arrival—all thanks to Nigerians who have vowed, Never Again! The hope of “Getting Nigeria Working Again� via the emerging Atiku Abubakar’s presidency has reignited the hitherto lost nationalism and patriotism in Nigerians. Former vice -president Atiku Abubakar and President Buhari are two parallel lines of socio-political and ethno-religious ideologies that can never meet on the political spectrum. The duo represents instinctively extremes of political philosophies. While one represents ultra conservative absolutism, the other epitomizes liberalism as

embodied in constitutional democracy. As one portrays retrogression, the other images progression. One is a true federalist—an unsung apostle of federalism as reflected in restructuring, while the other is a staunchly unitarian as exemplified in unitarianism— over concentration of power at the centre. One is a gifted expert in deploying persuasive skill of lobbing, concessions and deal-making in solving national issues, the other is an ardent believer in the use of brutal force of state power to quell any dissenting voice at the expense of people’s lives, businesses and freedom. One of the candidates, as a job creator—who has provided thousands of jobs as an individual in private sector, is an advocate of a liberal and stimulated private sector; his opponent is an agent of command-and-control structure whose erection of bureaucratic leviathans in the system crippled Nigerian economy and pushed us into first economic recession in 25 years. Under his watch, 18 million Nigerians have lost their jobs and hundreds of manufacturing companies relocated from Nigeria. Insecurity and ethno-religious tensions have never been this bad in our turbulent voyage as a nation. Certainly, no one can give what he doesn’t possess. Nigerians, the ball is in your court. It’s time to resuscitate the patriotic zeal of our founding fathers by “Getting Nigeria Working Again�.

15

T H I S D AY Ëž Ëœ ÍŻÍľËœ Í°ÍŽÍŻÍś

EDITORIAL

ERADICATING EXAMS MALPRACTICE All the stakeholders must unite to curb the malaise

I

n a bid to curb examination malpractices that have become prevalent in both the public and private schools in Nigeria, the West African Examinations Council (WAEC) recently urged the federal government to enact a law that would enable it to demobilise networks in all centres during the conduct of its examinations. The head, public affairs of the council, Mr Damianus Ojijeogu, made the appeal against the backdrop of activities of some fraudulent persons who operated rogue websites and used it to defraud candidates by posting wrong questions and answers during its examinations. The WAEC, according to Ojijeogu is harmstrung by the fact that it is a regional and not a national body and as a result, “we must always strive to operate within the ambit of the law that sets up the examination body.â€? They appealed to the federal government “to assist EXAMINATION us further by passing MALPRACTICE a law that will enable WAEC to jam the PORTENDS GREAT respective networks DANGER TO THE in all centres during QUALITY OF OUR our examinations,â€? adding: “In countries HUMAN CAPITAL AND where this has been BY EXTENSION, OUR successfully carried WORKFORCE out, it is the governments of such countries that made it possible, for the sake of the future of their children and their education.â€? While we urge the authorities to look into the request of WAEC, we hasten to add that the malaise is much deeper and the solution would have to be all-encompassing. One major proof of the downward slide in the education sector in Nigeria is the growing cases of examination malpractice. Recent media reports have shown that the vexatious issue, rather than abate, has been on a steady increase. This has become a cause of grave concern considering the destructive effects on the education sector in the country. Today, rather than read their books and prepare adequately for exams, the ďŹ rst option many students at various levels look for is the opportunity

Letters to the Editor

T H I S DAY EDITOR

DEPUTY EDITOR MANAGING DIRECTOR DEPUTY MANAGING DIRECTOR CHAIRMAN EDITORIAL BOARD

EDITOR NATION’S CAPITAL MANAGING EDITOR

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 GROUP EXECUTIVE DIRECTORS ˜ ˜

˜ ˜

DIVISIONAL DIRECTORS ˜ ˜ DEPUTY DIVISIONAL DIRECTOR

SNR. ASSOCIATE DIRECTOR ASSOCIATE DIRECTORS ˜ CONTROLLERS ˜ ˜

DIRECTOR, PRINTING PRODUCTION TO SEND EMAIL: ďŹ rst name.surname@thisdaylive.com

TO OUR READERS Letters in response to speciďŹ c 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.

NIGERIA AND THE GIRL CHILD

T

he girl child can be described as a powerful being that possesses unique traits and characteristics which makes her not only a woman, but a force to reckon with in a world where strength and virtue are on constant decline. There is more to a girl child that meets the eye. This means that she is more than a wife or mother but a channel through which the balance of human existence is built upon. She is a life giver and a sole connection between the idea of life. When we empower the girl child everybody benefits. Girls who are educated, healthy and free can transform their communities when they become mothers and consequently pass on the benefits to their children and even posterity yet unborn. The girl child must be empowered because it is her right, discrimination has no place in the 21st century, and every girl has the right to good things of life. Empowering girls means healthier families. In fact, it is universally acclaimed that when you train a girl, you’ve trained a nation, ostensibly showing the immense importance of a girl child in the society. The forum of African women educationist, a Pan African non-governmental organization

to cheat. It is even more disheartening to know that some parents connive with school authorities to perpetrate this social malady. This is with particular regard to state and federal government-owned secondary and tertiary institutions. In the ďŹ rst place this is part of the general corruption the country is trying to uproot. Examination malpractice involves bribery, stealing and even prostitution by the females involved. It also portends great danger to the quality of our human capital and by extension, our workforce. A thorough overhaul of our education system should be initiated and implemented urgently to curtail this malaise. The legislature needs to pass laws with appropriate sanctions, which should be severe, to act as a deterrent to students, teachers, institutions and parents alike. The re-introduction of reading and library classes as compulsory components in primary and secondary schools will help to stimulate and inculcate the reading culture in students. With regards to the tertiary institutions, the phenomenon of sex-for-grades is all too common with the result that some of the graduates, particularly the female ones churned out are un-educated in their courses of study. Lecturers, also, have been found to leak questions or write examinations for some students, particularly, the wealthy ones, male and female. The incessant strikes by the lecturers, the paucity of research materials and well-stocked libraries appear to pre-dispose the students to cheat to pass their examinations. The over-reliance and dependence on paper qualiďŹ cation should be deemphasised while vocational and entrepreneurial training should be encouraged. Also, we recommend re-orientation through sustained enlightenment programmes to bring about a paradigm shift in the consciousness of Nigerians and to precipitate the return to the days when academic excellence and hard work were rewarded just as laziness and mediocrity were punished. But in the main, we must recognise that the malaise of examination malpractices is a national shame that requires the involvement of all stakeholders to eradicate.

founded in 1992 has been promoting girls and women education. Gender discrimination is one of the primary impediments to education for all, which is one of the primary challenges to education, which affects boys and girls. However, in many parts of the world, girls are most often the victims as they pursue education. According to United Nations Educational, Scientific and Cultural Organisation (UNESCO) “Institute for Statistics database shows that poor girls from rural areas with uneducated mothers are the children most likely to be excluded from learning opportunities. In West central Africa, more than 40 per cent of secondary school-aged girls are not in school and more than 60 per cent of illiterate young people in the world are women�. In Nigeria, many girls suffer from abuse; it might be abuse at home, including harmful bodily practices, and it might also be sexual abuse or even worse. That is why many household think that girls should not receive education in the way boys do, if they receive it at all. Many people still live with a traditionally biased view of life, According to them,� a girl should grow up to be a mother and housewife�. Out of these reasons stems another one, which is gender discrimination. Girls are discriminated based on their gender

both in their communities and in schools; their achievements are not considered as significant as the boys’. Less attention is paid to educating girls on topics of their bodies and their health. Also most girls in some part of the country are often forced into marrying very early. When a girl becomes a wife as early as 11-12 years old, she will most likely not have an opportunity to receive proper education. To this extent, the need to examine measures capable of correcting these aforementioned anomalies affecting the girl child has become inevitable. Introduction of laws that protect the girl child from abuses and meting of appropriate punishment to whoever abuses a girl child would serve as one of the measures to improve the situation. Nigeria policymakers should seriously consider the issue of the girl child education in the country in order to ensure a secured future for all and sundry. Another measure worth considering is encouraging parents to send their daughters to school. Also, there is need for quality health care for girls; they need to have better access to information about their wellbeing, especially their reproductive health. Ayorinde, Ita-Iyalode, Abeokuta, Ogun State

DAY OF THE GIRL CHILD AND MATTERS ARISING

O

ctober 11 is celebrated globally as the Day of the Girl Child. Year 2018 is no exception with the theme, With Her A Skilled Girl-Force and celebrities using the occasion to not only promote the empowerment of the girl child but also making a vow against child marriage and other issues bedevilling the girl-child such as female genital mutilation, rape, human trafficking and the threat to girl-child education in certain parts of the country. Worthy of mention is of course the kidnap of over 250 girls’ of Government Secondary School Chibok, Borno State in 2014 and 110 girls’ from Government Secondary School Dapchi, Yobe State both in North-East Nigeria. If the Sustainable Development Goals is to be achieved in Nigeria, there must be a coordinated mechanism by relevant stakeholders in seeking for not only the protection of the girl-child but also her well-being. Every resource must and should be tailored in getting every child off the hazard of the streets to the comfort of a classroom. Education must be protected from insurgents who are adamant in perpetuating fear as they are aware education is a gateway for the girl-child to develop her capabilities and recognising that “her voice is her power.� Oluwatoyin Taiwo, Executive Director, Women & Girl-Child Capabilities Enhancement & Empowerment Organization

16

WEDNESDAY OCTOBER 17, 2018 ˾ T H I S D AY

NEWSEXTRA

Osinbajo: Adoption of Risk Principles Critical for Bankable PPP Projects James Emejo in Abuja Vice President Yemi Osinbajo yesterday said the right application of risk allocation principles in infrastructure projects was fundamental to ensuring bankability and long-term viability of public-private partnership (PPP) interventions in the country. He said an attempt to relegate the centrality of risk allocation in PPP contracts could be costly for the country. The vice president said the use of the contract management and risk assessment tools in project management would further strengthen transparency and accountability in the country’s PPP environment. He also commended the Infrastructure Concession Regulatory Commission (ICRC) on the deployment of the PPP Web Disclosure Portal which he said would stimulate investor’s interest significantly. Speaking during his keynote address at the opening of the Public Private Partnership (PPP) workshop on a Joint West African Regional PPP Risk Allocation and

PPP Contract Management Tool Dissemination, Osinbajo added that the aggregation of current efforts at improving transparency around PPPs would “provide more assurance to our people as they can now monitor the progress of implementation of PPP projects in the country.” This is as the Senior Manager, Global Infrastructure Hub, Mrs. Morag Baird, said Nigeria needed to spend over $400 billion in order to address it’s huge infrastructural deficit. She added that Africa needed to spend $3.3 trillion to bridge current gaps in infrastructure between now and 2040. Also yesterday, indications emerged that the acting Director General, ICRC, Mr. Chidi Izuwah, may soon have his nomination confirmed by the Senate. Chairman, Senate Committee on Works, Senator Kabiru Gaya, dropped the hint while giving his remarks at the event, which was organised by the Global Infrastructure Hub in collaboration with ICRC, Norton Rrose Fulbright and Olaniwun Ajayi LP. He said Izuwah was currently

awaiting Senate confirmationexpressing optimism that he would soon become the substantive DG of the commission. Gaya’s pronouncement on Izuwah was humorously reechoed by Osinbajo during his concluding remarks, stating that “we were also informed today that the acting DG ICRC will

soon to be confirmed by our born-again Senate”- apparently alluding to the controversies which had surrounded the decision of the upper chamber not to conduct confirmation hearings for some nominees sent to it by President Muhammadu Buhari in recent times. Nevertheless, Osibanjo stressed that the government evidently

lacked the resources to solely finance, build and manage public infrastructure, noting that ICRC had since inception taken over about 55 PPP projects across the country. He said there are several wellknown PPP projects, including the Murtala Muhammad Airport 2, Garki Hospital, Kainji/Jebba and Shiroro Hydro Electric Power

projects, and that about 25 port terminals already concessioned to private operators. “But managing these PPPs through stakeholder management, performance monitoring refinancing, re-negotiation, and disputes are probably as crucial for government as the PPPs themselves,” he said.

Nigeria Loses $6bn Freight CostYearly to Maritime Piracy Eromosele Abiodun The federal government is losing $6 billion on freight cost yearly to piracy in Nigerian waters, the Secretary to the Government of the Federation (SGF), Mr Boss Mustapha, has disclosed. Speaking in Lagos yesterday during the 2018 World Maritime Day celebration, Mustapha disclosed that the federal government plans to invest in maritime security and local capacity development to reduce maritime piracy in Nigerian waters so as to get a sizeable chunk of the N$6 billion (N2.16 trillion) of the annual freight cost for the country would be retained in the Nigerian economy. Mustapha noted that despite the achievements recorded in the maritime industry, the country has come under siege by criminal elements who perpetuates acts of piracy, arms proliferation, crude oil theft, as well as illegal and unregulated fishing in the Gulf of Guinea and within Nigeria’s territorial waters. Represented by the Minister of State for Works, Power and Housing, Baba Sheri stressed that the gains recorded by the government via port concessioning, amnesty, dredging nosedived due to this unfortunate scenario, thus compelling foreign shipping companies to request for the federal government’s approval to enter Nigeria’s waters with armed security personnel onboard. Stressing the importance of the maritime industry to the economy, the Minister of Transportation, Rotimi Amaechi said shippers spends between $5 billion and $6 billion annually on freight cost, while the maritime component of Nigeria’s oil and gas industry is worth an estimated $8 billion alongside seabome transportation, oceanic extractive resource exploitation and export processing zones.

According to him, “It is worthy to note that for effective contribution of shipping activities to the development of Nigeria’s economy, there is urgent need to curb and combat these illegal maritime activities in our waters as these crimes continue to constitute impediments to economic development. “As long as these crimes continue to pose danger to the Gulf of Guinea and our maritime domain, the benefits of the theme of this year’s World Maritime Day celebration will continue to be elusive. “The Federal Executive Council (FEC) recently approved the procurement of new security architecture for the Nigerian Maritime Administration and Safety Agency (NIMASA), which involves the acquisition of new platforms and other logistics required to enable the agency to perform its statutory functions of securing the Nigerian waters in conjunction with the Nigerian Navy.” “The importance of ensuring a safe maritime domain cannot be overemphasized. A safe, secure and efficient shipping industry will surely revitalize and diversify the economy of Nigeria away from crude oil exploration to a maritime hub. Therefore, the promotion of sustainable shipping and sustainable maritime development as expressed in the theme of this year’s celebration will stimulate the development of new technologies and innovation, agile maritime security platforms and the development of the maritime infrastructure,” the minister explained. He added that Nigeria as a member-state of the International Maritime Organisation (IMO), a specialised United Nations (UN) Agency, is responsible for ensuring safety and security of shipping and protection of the marine environment.

YOU ARE WELCOME...

L-R: Head, Sub-Saharan Africa, GSMA, Mr. Akinwale Goodluck; Chief Regulatory Officer, GSMA, Mr. John Giusti; Vice President, Prof. Yemi Osinbajo, and Director General, GSMA, Mr. Mats Granryd, when Osinbajo received a delegation of GSM Association at the Presidential Villa, Abuja.

Late Anita’s Family Warns Police against Cover-up Alex Enumah in Abuja Family members of the late Anita Akapson, who was killed by a trigger-happy policeman last Saturday in Abuja, has warned police not to sweep the matter under the carpet, just as they alleged police had done in similar circumstances. The late Anita, 31, was alleged to have been trailed by a team of policemen allegedly led by a Superintendent of Police, who blocked Anita’s vehicle before shooting her at close range around

the Katampe District of Abuja. She later died in a Gwarimpa Hospital that same night. However, speaking through their lawyer, Kayode Ajulo, the family members said: “It is important that we do not obscure the heinous crime by putting to the fore that the deceased is a daughter of Mrs. Nenadi Usman, former Minister of Finance, rather, the spotlight should be centered on the fact that it has become a near-norm by those paid to protect Nigerians to kill them at

the slightest opportunity. This is tragic and also frightening.” The family, while appreciating the Inspector General of Police (IG) for ordering the detention and investigation of the officers involved in the killing of Ms. Akapson, however, demanded to know the identity of the officers. Their demands, according to Ajulo, are predicated on the need for a transparent judicial process. “The police authorities ought to make the identities of the policemen known in order to

avoid a situation where they will ‘miraculously’ escape from detention,” they said. In addition, they called for an independent prosecutor to handle the prosecution of the officers, stating that the police can go to any length to protect their own, and that this particular case may not be different from others. “Till date, nothing substantial has been done in the prosecution of the officer who killed Ms. Linda Angela Igwetu, the NYSC member that was killed in July this year.

Dickson Committee’s Reconciliation Move Continues,Visits Mark, Ekweremadu Adedayo Akinwale inAbuja The Peoples Democratic Party (PDP) Standing Committee on Peace and Reconciliation led by the Governor of Bayelsa State, Seriake Dickson, has continued its peace moves ahead of the 2019 elections with a visit to the former Senate President, David Mark, and Deputy Senate President, Ike Ekweremadu, last Monday night, THISDAY has learnt. The reconciliation moves started earlier last Monday with a visit to Sokoto State Governor, Alhaji Waziri Tambuwal, and former Governor of Kaduna State, Senator Ahmed Makarfi, in Abuja. Those accompanying Dickson on the reconciliation train were Delta and Taraba States Governors, Dr. Ifeanyi Okowa and Mr. Darius Ishaku. The party formally set the machinery in motion for the reconciliation of all aspirants that

contested its presidential ticket in Port-Harcourt a few weeks ago in an attempt to rally them behind the party’s presidential candidate, Alhaji Atiku Abubakar. Although the primary was seen to be transparent and without rancour, the party still felt it should not take chances, and asked its reconciliation committee headed by Dickson to talk to the former aspirants and clear all possible grey areas. THISDAY however learnt yesterday that the committee later last Monday night in Abuja visited Mark and Ekweremadu as part of effort to galvanise support for Atiku and also to ensure that the party wins the presidential election. According to the source who pleaded anonymity, “The committee later visited Mark and Ekweremadu yesterday (Monday) night. “Other aspirants will be visited but most of them are not in Abuja

now.” Asked when the other former aspirants would be visited, the source said: “No date has been fixed for now, but they will be visited when they are around.” While addressing journalists after the peace meeting , the Bayelsa State governor commended the former presidential aspirants for displaying maturity and spirit of sportsmanship after the Port Harcourt convention, which was won by former Vice President Atiku Abubakar. Dickson, who is the Chairman of the committee, said the party had commenced series of consultative talks with all the aspirants and leaders of the party in a bid to retake political power from the APC in 2019. According to him, “I am leading a team of the committee of governors to interact and compare notes with our brother, Governor Tambuwal of Sokoto State. As you all know,

he ran a great race, and we are all proud of what he did and what he continues to do. “We appreciate his statesmanship; we appreciate the way and manner he has been of help to the party consolidating the gains the party is making. “This afternoon, as part of our decision to go round, visit, encourage and interact with all our party leaders especially all those who indicated interest in the last presidential elections, we have held a fruitful meeting. “We are actually starting from here and would be leaving from here to visit our former national caretaker chairman and also hold similar consultative meetings with him.” The former aspirants have also assured the party of unwavering support in order to ensure that the party comes out victorious in the 2019 elections.

17

WEDNESDAY OCTOBER 17, 2018 ˾ T H I S D AY

NEWSEXTRA

House of Representatives Appropriates N831bn for 2019 Election Condemns Liman’s murder

Shola Oyeyipo in Abuja The total funding for the 2019 general election has been put at N831, 259, 220, 255.00 by the House Representatives. The development followed the passage of a motion by Hon. Mustapha Bala Dawaki for the approval of the request by the federal government for N242, 245, 050, 100 virement funds to finance the Independent National Electoral Commission (INEC) and security agencies in the Appropriation Act 2018. The virement, which became necessary so as to appropriate funds to enable the relevant agencies conduct hitch-free elections next year, added N189, 007, 272, 393 to the N45, 500, 000, 000 INEC appropriation putting the new total at 234, 507, 272, 393 and the office of the National Security Adviser (NSA) got N9, 481, 500, 000 bringing the new total to N46, 948, 839, 426. Also, with an additional N10, 213, 282, 455, the Department of State Security (DSS) now has N50, 791, 852, 568. With an additional N3, 573, 534, 500, the Nigeria Security and Civil Defence Corps total appropriation rose to N82, 834, 042, 256; the Nigeria Police N324, 220, 893, 212 2018 appropriation, which got N27, 341, 317, 433 virement, now stands at N351, 562, 210, 645 while the N61, 986, 859, 648 appropriated in the 2018 budget for the Nigeria Immigration Service (NIS) was increased to N64, 615, 002, 968 with a virement of N2, 628, 143, 320 which put the total at N831, 259, 220, 255.00. According to Duwaki, the virement, which is to be taken from the recurrent and capital components of the service wide vote, “became necessary in order to appropriate funds to enable

the relevant agencies commence preparation towards a free and fair election in 2019.” The controversial bill for an act to amend the provisions of the Electoral Act, No 6 of 2010 and related matter sponsored by Hon. Aishatu Jibril Dukku also passed for second reading and was passed to the Committee of the whole for consideration today. The bill scaled through after members had addressed the issues raised by President Muhammadu Buhari as reasons for declining ascent to it. Also adopting a motion moved under matters of urgent national importance by member representing Ehimembano/Ihitte Uboma/ Obowo federal constituency of Imo State, Hon. Chike Okafor, who harped on urgent need to rescue Leah Sharibu and other girls in Boko Haram captivity, the lawmakers expressed shock at the execution of another aid worker, Ms Hauwa Liman by the insurgents. The concerned lawmaker, who bemoaned that it is becoming very difficult for those who want to help the victims of Boko Haram insurgents to carry out their duties, observed a minute silence over the killings of Liman and Saifura Khorsa, an aide worker with the International Committee of the Red Cross (ICRC) previously killed in the year. He called on the federal government to do all within its work with other countries in the world to acquire advance technology to tackle problems associated with terrorism, stressing that “if we don’t act as a responsible country that we are, it will get to a point that this international bodies will stop bringing their employees to Nigeria.” In another development, a

LP: We May Not Field Candidates for 2019 Onyebuchi Ezigbo in Abuja A faction of the embattled Labour Party (LP) has said it may not be able to field candidates for the 2019 general election due to intra-party feud. The party with a strong affiliation with the Nigeria Labour Congress (NLC) has been engulfed in intra-party leadership dispute that has led to the emergence of two factions. One of the factions loyal to the NLC addressed a press conference yesterday, stating reasons why the party may not be able to participate in the next year’s general election. Addressing journalists, the National Publicity Secretary of the party, Ebere Ifendu, said there is a subsisting court order that LP should hold an all-inclusive national convention which was not adhered to. The party scribe, who traced the genesis of the crisis in the party to the allegations of financial impropriety against the leadership of the party, said the tenure of the NWC led by Abdulkadir Abdulsalam elapsed on October 10. According to him, “With the end of the tenure of this executive

as well as the compliance with the above mentioned court order, the L P does not have a National Working Committee (NWC) in place. This clearly means that any nomination of candidate done by the party after October 11, 2018, is null and void and it will be in contempt of the court order.” Ifendu said even if the party holds the national convention now, it will not be possible for it to field candidates for the general election because the deadline set by the Independent National Electoral Commission (INEC) for party primaries had since expired. She described the suspension of some members of the NWC by the Abdulsalam-led faction as figment of the wildest imagination of those behind the plot. “Firstly, the NEC was not properly constituted. There is a subsisting court order that gave us a mandate to conduct an all-inclusive national convention. “The judgement is a consent judgement, which involved all parties, including Abdulsalam, who signed the documents that was used for the judgement. So it is no longer what INEC can interfere with, the court orders must be respected,” she said.

bill for the establishment of the National Security Trust Fund passed through second reading in the lower chamber of the National Assembly and was referred to the House committees onArmy, Defence

and National Security and intelligence for further legislative input. The bill, which comes with 26 clauses and which scaled through second reading, will provide an avenue for security agencies to

procure hardware, infrastructure and technologies to aid in ensuring national security. The sponsored, Hon. Rimamnde Shawulu (PDP Taraba) said the aim is to do away with budget constraints

and address inadequate remuneration of security personnel, inadequate equipment, poor state of available equipment, low level of training, limited manpower and poor maintenance culture.

RECEIVING LETTER OF CREDENCE...

L-R: President Muhammadu Buhari receives Letter of Credence from Ambassador of Japan, Yutaka Kikuta, at the Presidential Villa, Abuja ...yesterday GODWIN OMOIGUI

Nwabueze’s Group Insists on Restructuring Before 2019 Elections Gboyega Akinsanmi The Eminent Leaders of Thought, a forum of national patriots have resolved to convene a national summit on restructuring before the 2019 general election, observing that the current governance structure in the country is embedded in corruption. The forum under the chairmanship of Prof. Ben Nwabueze has equally commenced national consultation with leaders of thought in the north, insisting that Nigeria’s governance structure must be restructured for the 2019 elections to be meaningful. The forum resolved to convene the summit at its last meeting held at the Chief Rotimi Williams’ Chambers, Ilupeju, Lagos, noting that Nigeria should urgently evolve a new governance structure that could bring meaning to the 2019 election. At its meeting last week, the forum resolved “to convene a national summit on restructuring.

The summit will be all-inclusive. It will be convened jointly by Eminent Leaders of Thought in the South and Eminent Leaders of Thought in the North.” At that level, according to the resolution of the forum, the federal government will be expected to participate. The summit will consider strategies, processes and methodology of constituting a constituent assembly. The forum, also, resolved that it would have a major interface with the federal government very soon, adding that the leaders of thought would meet governments at all levels – leadership of the House of Representatives, the Senate, Nigerian Governors Forum, Presidency and Conference of Speakers of State Houses of Assembly on the issues. It observed that it would adopt multilateral approach “to finding a way that will lead to constitutional change. We resolve to include all critical interests, segments and stakeholders in pursuit of restructuring agenda.

“The APC has initiated a process of restructuring. Kaduna State Governor, Mallam Nasir el Rufai coordinated the process. Also, the Northern State Governors Forum initiated another process of restructuring under the leadership of Sokoto State Governor, Alhaji Aminu Tambuwal. “The fact that theAPC has initiated a process on restructuring gives impetus to pursue the agenda to a logical conclusion. The first thing is to get the commitment of the federal government towards restructuring Nigeria,” the forum resolved at its last meeting. It resolved that the present structure “cannot enable good governance. It cannot encourage good leadership because the structure itself is embedded in corruption. For the 2019 election to make meaning, we must restructure Nigeria. What we have now cannot produce desired result.” It, also, observed that whenever people with good intention “were elected into the office of the

President, they get trapped and caged by the corrupt system. Even when they are good people, they cannot do much because the institutions are not working. No government or leader can go beyond the direction of the institutions. “There will be several meeting in the next one month. We are starting national consultation this month. We must start the process now. Even though we cannot complete before the 2019 election, we can complete after the election. “All we need is to get the buy-in of the federal government. When there is a will, there is a way. We have enough documents to back our claim that Nigeria need to be restructured. We must do something about our structure. Election can be productive and resourceful. “Election can bring about good result. All elections we had in the past had not produced good leaders. People get to the political office with good intention. But they get entrapped in the system that is based on corruption.”

Buhari: Youths’ Desperation to Cross Mediterranean Injurious to Nigeria Omololu Ogunmade in Abuja President Muhammadu Buhari yesterday said the sheer desperation of Nigerian youths to travel through the Sahara Desert and the Mediterranean Sea, in search of menial jobs in Europe, was injurious to the pride of the country. The president’s media adviser, Mr. Femi Adesina, in a statement, said Buhari made the remarks at State House, during a farewell

audience with the outgoing High Commissioner of the Republic of Namibia, His Excellency, Peingeondjabi Shipoh. According to the statement, the president noted that there were vast opportunities for Nigeria and Namibia to cooperate in areas of agriculture and trade. Adesina also said the president recalled the sacrifices made for the freedom of Namibia, particularly by the administrations of Generals Murtala Muhammed and

Olusegun Obasanjo. “With great potentials in Africa, the President decried illegal exodus to Europe, at grave risk to lives and limbs, and then pledged: “We will do our best to make our country live-able again,” the president was quoted as saying. He also said the outgoing High Commissioner, who spent four years and 11 months in Nigeria, added that the country had become second home for himself and his family.

“I enjoyed great support in carrying out my duties. I return home with absolute satisfaction that our two countries are more than ready for intra-African trade and exchange of state visits by the leaders. Our two countries have a lot in common, and Africa can only be developed by Africans themselves,” he quoted him as saying. Adesina added that Shipoh wished Nigeria a successful general election in 2019.

18

T H I S D AY ˾ WEDNESDAY OCTOBER 17, 2018

MIDWEEKPOLITICS

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

THE NEWSMAKER

Revving on Her Own Steam Nseobong Okon-Ekong writes that the emergence of Dr. Obiageli Ezekwesili as presidential candidate of the Allied Congress Party of Nigeria may be a defining moment for participation of women in partisan politics

N

ot a few are surprised that former Minister of Education and co-convener of the BringBackOurGirls (BBOG) campaign, Dr. Obiageli Ezekwesili has been shortlisted for the 2018 Nobel Peace Prize, one of the greatest global recognition for outstanding leadership and distinction. Whether she eventually wins the honour or not may not matter. It may be enough to know that the world respects her consistent integrity and acknowledges her strive to do things differently. Her unswerving call for accountability and openness in public office which came to the fore with her appointment as Presidential Aide on Budget Monitoring and Price Intelligence Unit, otherwise known as, Due Process Unit has become a reference point and recommended her for much civic admiration. A woman who best announces her propensity for uprightness with her uncluttered but pristine appearance capped with a low-cropped hair, Ezekwesili is not given to vanity. This is not necessarily a function of her marriage to a pastor, after all many pastor ’s wives are outlandish in appearance, she is living on her terms. If she becomes a Nobel Peace Prize winner, it will immediately catapult her to another level of international appreciation that distinguishes her from the pack of eminent Nigerians jostling to become the country’s president. While she may not be the first Nigerian woman to fly the flag of a political party in a presidential race, the former Vice President of the World Bank’s foray into partisan politics and quest for the highest office in the land is expected to post the brightest result ever by a Nigerian female presidential candidate. In more ways than one, her participation in the presidential contest is seen as a defining moment for participation of women in partisan politics. On her own steam, Ezekwesili has been part of several vibrant national and international communities that have the resources and contacts to make one of the candidates to beat in the 2019 presidential election. Ezekwesili is also the former Vice President of the Extractive Industry Transparency International (EITI). She has built useful and influential partnerships as an international champion in the fight against corruption. Ezekwesili was

Ezekwesili

the Federal Minister of Solid Minerals and the Chairperson of the Nigeria Extractive Industries Transparency Initiative (NEITI), leading the first-ever national implementation of the global EITI standards. If she was severe in her criticism of the Goodluck Jonathan presidency, perhaps, the Muhammadu Buhari administration thought she was an ally, but she has been nonetheless biting in her attacks against the present regime, particularly against its performance on rights and the economy. She became even more vocal when she co-founded the BringBackOurGirls campaign in the wake of the capture of the Chibok girls

by Boko Haram. She has not relented in badgering the authorities for the release of persons being held by the terrorists, including Leah Sharibu. Her critics have suggested that she has been hassling the government because she did not get an expected reward for helping to oust former President Jonathan. But she is not not perturbed by this apparent slander. Like all good generals, Ezekwesili seems to be enjoying a measure of support from her compatriots in the civil society. Already, people like Pastor Tunde Bakare of the New Nigeria Progressive Movement has voiced his acceptance of Ezekwesili

QFSTPOOFM DPTU PG HPWFSONFOU 5IJT JT B OBUJPO PG BCPVU NJMMJPO QFPQMF CVU UIF UXP NJMMJPO QFPQMF JO QVCMJD TFSWJDF DPOTVNF UIF FOUJSF PJM SFWFOVF UIFSF IBT UP CF ESBTUJD NFBTVSFT PO UIF DPTU PG HPWFSOBODF 5IF DPVOUSZ BMTP OFFET UP JOWFTU JO IVNBO DBQJUBM BOE DSFBUJOH BO FOWJSPONFOU TVJUBCMF GPS EFWFMPQNFOU Ezekwesili explaining where urgent interventions must be made in the polity

XIZ UIFZ TIPVME WPUF GPS FBDI PG UIF DBOEJEBUFT BOE UIFZ OFFE UP LOPX OPX Ezekwesili making a case for a televised debate for presidential candidates

who is flying the presidential flag of the Allied Congress Party of Nigeria (ACPN). Also four of the leaders of the BBOG movement have opted to leave the pressure group, following the political ambition of a co-founder of the movement:Aisha Yesufu, Florence Ozor, Maureen Kabrik and Dudu Bakam have decided to step down after the emergence of Ezekwesili as the presidential candidate of the ACPN. Ezekwesili has demonstrated admirable courage in the course of her fight for justice. It is on record that security operatives attached to the State House allegedly assaulted her and members of the BBOG movement during a protest denouncing the perceived indifference of the Federal Government to the wave of killings across the country. But she remains undaunted. Born 55 years ago, Ezekwesili is a Nigerian chartered accountant from Anambra state. She is married to Pastor Nedu Ezekwesili of the Redeemed Christian Church of God (RCCG). Ezekwesili holds a master ’s degree in International Law and Diplomacy from the University of Lagos, as well as a Master of Public Administration degree from the Kennedy School of Government, Harvard University. She trained with the firm of Deloitte and Touche and qualified as a chartered accountant. Prior to working for the Government of Nigeria, Ezekwesiili was working with Professor Jeffrey Sachs at the Center for International Development at Harvard. As a senior economic advisor for Open Society, a group founded by billionaire George Soros, she advises nine reform-committed African heads of state including Paul Kagame of Rwanda and Ellen JohnsonSirleaf of Liberia. On October 1, 2012, one of the world’s leading telecommunications firm, Bharti Airtel, with operations in 20 countries, named Ezekwesili as a director on its board. She is also on the boards of World Wildlife Fund (WWF), the School of Public Policy of Central European University, The Harold Hartog School of Government and Policy, New African magazine, The Center for Global Leadership @ Tufts University. In May 2012, Ezekwesili was awarded an honorary Doctor of Science (DSC) degree by the University of Agriculture, Abeokuta in Nigeria. She was selected as one of the BBC’s 100 Women in 2014.

OFF THE CUFF: r/JHFSJBOT NVTU OPU CF UPME UIBU XIBU UIFZ EFTFSWF JT B DIPJDF CFUXFFO FWJMT * BN OPU UIF FWJM POF * BN UIF DIPJDF PG UIF /JHFSJBO QFPQMF Ezekwesili positioning herself as a credible choice in the 2019 presidential election r* BN UIF DBOEJEBUF PG UIF /JHFSJBO QFPQMF BOE UIFSF JT OP QPXFS PS GPSDF HSFBUFS UIBO UIF QFPQMF BDUJOH BT B DPMMFDUJWF 5IF POMZ SFBTPO ZPV OFFE MFBEFST JT GPS UIFN UP TPMWF EBVOUJOH DIBMMFOHFT JU JT POMZ XIFO UIFSF JT BO JOFGGFDUJWF HPWFSONFOU UIBU UIF QSPCMFN QFSTJTUT Ezekwesili justifying her quest to become Nigeria’s President r5IF PJM SFWFOVF JT OPU TVGà DJFOU UP DPWFS UIF

r*U BQQFBST UIBU UIFSF JT B DPOTQJSBDZ PG UIF NJOPSJUZ UP USJWJBMJ[F UIF JTTVF PG QSFTJEFOUJBM EFCBUF JO B CJE UP FYFNQU 1SFTJEFOU .VIBNNBEV #VIBSJ GSPN EFGFOEJOH IJT QFSGPSNBODF BOE QSFTFOUJOH IJT QMBOT CFGPSF UIF /JHFSJBO QFPQMF 5IJT JT VOBDDFQUBCMF 5IF QFPQMF OFFE UP LOPX

r5IJT JT IFBSUCSFBLJOH 5IJT TIPVME IBVOU VT BT B OBUJPO 5IJT TIPVME IBVOU VT BT B QFPQMF 5IJT TIPVME EFFQMZ XPSSZ VT UIBU XF GBJMFE UIJT ZPVOH XPNBO XIJDI XF DPOUJOVF UP GBJM -FBI 4IBSJCV BOE PUIFS ZPVOH XPNFO BOE NFO BOE DIJMESFO JO DBQUJWJUZ UIBU XF Ã OE PVSTFMWFT IFMQMFTT JO UIF GBDF PG UFSSPSJTUT )BWF XF CFDPNF B OBUJPO UIBU DBOOPU TBWF UIF MJWFT PG JUT PXO DJUJ[FOT 8F DBOOPU HP PO MJLF UIJT Ezekwesili lamenting the murder of Hauwa Liman, a worker with the International Com-

mittee of Red Cross (ICRC) and calling on President Muhammadu Buhari to ensure the release of the third aid worker, Alice Loksha, Leah Sharibu and others being held by Boko Haram r"SF ZPV CZ BOZ TUSBOHF QPTTJCJMJUZ JO OFFE PG UIF TQJMMFE CMPPE PG ZPVS DJUJ[FOT * QFSTPOBMMZ SFDLPO UIBU UIF BOTXFS UP UIJT PVUMBOEJTI RVFTUJPO XIJDI TPNF PG ZPVS DJUJ[FOT BSF OPX BTLJOH JO VUUFS GSVTUSBUJPO JT /P *G UIFSFGPSF ZPVS PXO SFTQPOTF JT OP BT * EJSFMZ IPQF JU JT * IBWF B GFX EFNBOE UP NBLF PG ZPV UP TUPQ UIF LJMMJOHT OPX Ezekwesili challenging President Muhammadu Buhari to end the incessant killings in Nigeria

19

T H I S D AY ˾ WEDNESDAY OCTOBER 17, 2018

POLITICS

It’s Safe to Back Away After hitting the roof, following the number of its legislators that switched political party loyalty, mainly to the People’s Democratic Party, the leadership of the All Progressives Congress may have come to terms with the fact that it lacks the majority needed to take control of the National Assembly and this accounts for the relative peace in the federal legislature, writes Shola Oyeyipo

Saraki

I

t is an established fact that politics is a game of number, but very importantly, it is also a game of timing and planning. There are many actions that must be taken at appropriate times and they must be well planned. To say the relative peace in the National Assembly is simply a graveyard peace, is stating the obvious because indications are there to show that given the opportunity, the ruling party will remove the National Assembly leadership. Contrary to expectations, both chambers of the National Assembly resumed from their fourth annual recess and quietly settled down to legislative businesses, as if all is well, but that is far from the truth. Each side of the divide is simply aiming at the other’s jugular and waiting for the appropriate time to go for the kill. Judging from the attempted invasion of the National Assembly that led to the sack of former Director General of SSS in August and the position of the duo of the Deputy Speaker of the House of Representatives, Hon. Yusuf Lasun and the Senate Leader, Senator Ahmed Lawan at the party’s recent national convention, it is clear that the ruling party is embittered that the Senate President, Dr. Bukola Saraki and the Speaker, Hon. Yakubu Dogara are both in the opposition and they would do anything to remove them. At the special national convention of the APC held in Abuja penultimate weekend, Lawan and Lasun told the gathering that the ruling party has a clear majority. In fact, banking on their so-called majority the duo vowed to ensure that the Independent National Electoral Commission (INEC) and security budget proposals are passed, forcibly, if needs be. Apparently, the two men were simply blowing hot air. If the APC had even a slim chance, the party would not have thought twice about removing Saraki, and Dogara upon resumption of plenary. The plan to remove Saraki and Dogara may not fly on the floor of the National Assembly as it may be difficult to muster the constitutionally required two-third legislators to sack them. Hon. Mohammed Monguno (Borno State-APC) puts the issue in clearer perspective when he said upon resump-

Dogara

tion of the National Assembly that: “My advice is that the Senate President and the Speaker, House of Representatives should honourably resign since they have changed the party on which platform they were elected.” He opined that being opposition lawmakers and minority in the National Assembly, their leadership, “Is going to affect core legislative duties because the manifesto of the party they belong to is in conflict with the ruling party and it will affect the agenda of the ruling party. And that may lead to sabotage.” He feels it was honourbale for the Speaker to simply step down and allow somebody else take charge of the House of Representatives, but his demand showed

Suddenly, the APC has changed its stand. The party seems ready to work peacefully under the opposition leadership “in national interest.” First, it was the Chairman, House Committee on Media and Public Affairs, Hon. Abdulrazak Namdas (APC), representing Jada/Ganye/Mayo Belwa/Toungo Federal Constituency of Adamawa State) that said the lawmakers have agreed to work together irrespective of party affiliation. “This House is very calm. The atmosphere is cool; and with our leaders, we have no issues. There is no anxiety. There is no problem between us and our leaders

clearly that the ruling party was only waiting for an appropriate time to act, because when asked if the APC would remove the leaders, Monguno said: “If we can muster the majority, we are going to remove them.” Monguno’s position put side-by-side the position of the APC National Chairman, Comrade Adams Oshiomhole, who in August, vowed that there would be no going back over plan to remove Saraki after his defection to PDP, was indicative of the party’s plan to oust the duo of Sarki and Dogara. “If they have only 49, and the APC have 56, they will tell us anywhere in the world, where the minority will produce the leaders of the House. We cannot be subjected to a minority rule in Nigeria. Whether Senator Saraki likes it or not, he can only take the part of honour by allowing the APC to take its rightful leadership of the Senate. If not, he would be removed lawfully and democratically,” Oshiomohle boasted. “As the governing party, we are committed to leading with example. Everything we do we ensure is in the provisions of the law, including the impeachment of Senator Saraki.” Suddenly, the APC has changed its stand. The party seems ready to work peacefully under the opposition leadership “in national interest.” First, it was the Chairman, House Committee on Media and Public Affairs, Hon. Abdulrazak Namdas (APC), representing Jada/Ganye/Mayo Belwa/Toungo Federal Constituency of Adamawa State) that said the lawmakers have agreed to work together irrespective of party affiliation. “This House is very calm. The atmosphere is cool; and with our leaders, we have no issues. There is no anxiety. There is no problem between us and our leaders. “However, as a member of the APC, I will always try to protect my party. There is nothing wrong with that as other members in other parties are expected to do the same. But on national interest, we are on the same page. There is nothing we have done to demonstrate that there is a problem,” he stated, stressing that members of the lower chamber of the National Assembly have similarly

agreed to give necessary support to the President Muhammadu Buhari-led federal government. Perhaps the most interesting aspect was the sudden turnaround of Senate Leader Lawan, who had always said that his party has 53 senators, PDP has 49, African Democratic Congress (ADC) has three, All Progressives Grand Alliance (APGA) has two, and two vacant seats. Like Namdas, he said the lawmakers were more focused on upholding national interest than pursuing personal or partisan agenda of impeachment of a member and therefore are not putting the agenda to remove Saraki in the front burner. That was his latest position at the Presidential Villa, Abuja, where he said: “We must be nationalistic; we must put national interest above individual, parochial or partisan interests. We definitely have to bury our hatchet for us to work for Nigeria and Nigerians; and perhaps that might have informed the disappointment of many people who thought there will be crisis in the National Assembly.” As good as the position taken by the APC lawmakers may sound, Hon. Sergius Ogun (Edo State-PDP), said it may be an exercise in futility and unnecessary. He emphasised that no party has the constitutional requirement to embark on the venture, “No party has the 210-majority needed to remove the House of Representatives leadership and that should be the last thing on anybody’s mind.” However, the Dogara leadership in the lower chamber has been assertive. Upon resumption, he vowed that federal lawmakers will resist any attempt to continue to frustrate the enactment of the Electoral Act Amendment Bill, particularly the use of card readers for the 2019 elections. The House also threatened to suspend plenary when one of its members, Hon. Abubakar Abdulahi Lado (APC) was held in detention by the Special Anti-Robbery Squad (SARS) arm of the Nigeria Police. He was quickly released the following day. While a significant number of Nigerians have their eyes on the executive - legislature relationship, virtually every Nigerian is waiting with keen interest to see what becomes of the Eight Assembly, in the long run.

20

T H I S D AY Ëž ÍŻÍľËœ Í°ÍŽÍŻÍś

FEATURES

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

An Insight into Nigeria's Maiden Biographical Encyclopedia Olawale Ajimotokan reports on the maiden 'Who’s Who in Nigeria', the first online biographical encyclopedia on great Nigerians, spanning over a century of the country’s existence from 1861, when Lagos was ceded to the British as a colony

Osso

N

igeria has finally produced a digitalised version of the biographical publication on the country’s super achievers in all walks of life. The initiative, tagged Biographical Legacy and Research Foundation’s (BLERF) Who’s Who in Nigeria, is a historical compilation of over one million distinguished Nigerians, spanning over a century of the country’s existence from 1861 when Lagos was ceded to the British as a colony. The online biographical version is the creation of Nyaknno Osso, acknowledged as one of Nigeria’s brightest record and institutional memory custodians. Osso served as a former Special Assistant to former President Olusegun Obasanjo on Library and Documentation from 1999 to 2007. He was also the Consultant Librarian at Newswatch led by the Late Dele Giwa, where he was credited with the compilation of the first and most authoritative Newswatch Who’s Who in Nigeria in 1990.

Comprehensive Collation BLERF's creation is touted as the most comprehensive and up-to-date collation of Nigerians that excelled, home and in Diaspora, in commerce, politics, military, academia, civil service, literature and sports and other human endeavours. Osso told THISDAY that the online publication is the maiden African biographical information database. He said the individual bio-data were listed without bias for ethnic and religious affiliation. The biography is organised and stored in the website in such a way that it is easy to follow, preserve and retrieve after the entries are verified through background checks.

Benchmark Osso’s hard copy version of Newswatch Who’s Who in Nigeria, produced 28 years ago, comprised 2,700 entries. It was adjudged a very useful publication and a basic reference source on prominent Nigerians and their achievements. The document is a benchmark for a country often derided for poor record keeping and where the absence of a functional National Library, Monument, Archive and Museum remains a

drawback. “When I did Newswatch Who is Who in Nigeria, the US government, through the then United States Information Service (USIS), now known as Information Resource Centre (IRC), Lagos, brought 300 copies, which were distributed to Harvard, Princeton, Columbia and other institutions and academia. I was invited and spent six weeks in America as an international visitor at different places, including the office of the US President, to explain how I gathered information like this. At that time, it was in a book form, but now it is converted into electronic format, which makes it easy to use,� Osso remarked.

A Decade of Research He spent the last 10 years, nurturing a legacy that will transform the Abuja based BLERF, into a media resource centre, for local and international journalists on biographical information they require on Nigeria. The pursuit is devoid of government and private backing. He undertook intensive visits to some of the world’s top media outfits, researching on the intricacy of information

Nigerians appreciate biographical contents elsewhere. In fact you will be surprised by the volume of artefacts the British and Commonwealth libraries and New York Times have on Nigeria... Outside South Africa, Nigeria is the ďŹ rst African nation that has been able to place its Who’s Who online for the use of researchers, historians and reporters

storage and retrieval. Osso said he paid several visits to the Time Magazine, New York Times, Washington Post, Atlanta Constitution and Time of London while carrying out the task. He was also exposed to indexing at the Financial Time. The research work also took him to the British Museum, Library of Congress in UK, the Clinton Library in Little Rock, Arkansas, and Colindale in Edgware, North London that boasts of the best library in the world. He said he had invested his private savings on the project and that the time had come for rich Nigerians to support BLERF through the donor agency, adding a project of this nature should be seen as a national legacy. “Nigerians appreciate biographical contents elsewhere. In fact you will be surprised by the volume of artefacts the British and Commonwealth libraries and New York Times have on Nigeria. The UK has its own Who’s Who, Spain have their online version of Who’s Who, just as Canada, France and USA. Outside South Africa, Nigeria is the first African nation that has been able to place its Who’s Who online for the use of researchers, historians and reporters. The features can be accessed by logging into our website,� he said.

Niche He boasted that as a resource centre, BLERF regularly updates information at its disposal and requires 24- hour notice from news outlets, working on a major stories, for the provision of organised and digitalised information they could use for editorial referencing. “Somebody alluded we are competing with Wikipedia. When the Wikipedia man in charge of Africa came to Nigeria, he frowned that most of their information was not accurate, because it was coming from all manner of sources. In our own case, because we are dealing with Nigerian personalities, those I have known personally, and those I have written something about, I can double check and ensure that the information I am giving out is very accurate and very authoritative. Nobody can take that away from us�.

Database Osso said 30,000 names of outstanding

Nigerians, who made impact in business and public service, will be compressed into BLERF’s database online early next year, while 10,000 names will be listed for the book biographical encyclopedia. Osso asserted that the BLERF website had more visitors, who sought more information on Babajide Sanwo-Olu, when the latter’s name started trending as the person likely to replace Akinwunmi Ambode as the APC governorship candidate in next year’s general elections. He said Sanwo-Olu entry had about 500 visitors and reached more than 1,000 hits the following day. Ever since, searches for his data have been growing on a daily basis.

Team BLERF’s team of analysts and researchers work almost 18 hours a day processing and preserving information in a way that it is easy to retrieve on line. The platform is run by a collection of brilliant analysts, led by Osso’s daughter, who graduated with a First Class degree in Information System and Business Analysis (ISBA) from Aston University, UK.

Lack of Coordinated Research He however, bemoaned the lack of coordinated research effort in Nigeria for a befitting centre for research analysis and record keeping. “There are so many resource centres in Nigeria doing about the same thing, without coordination, with no background, no centre for analysis and records keeping. Also the decisions we take here are not backed by data and are parochial. I am happy that the National Bureau of Statistics is making the effort to streamline this. We need to complete the National Library in Abuja and have in place key institutions like the National Archive and National Museum that hold national records, digitalise them and train people on how to retrieve information. "In a modern way of managing information, before you can take important decision you must check all the facts. We must come to a point where we define national interest and national legacy, heritage and train people to manage those heritage for us. This is the point I think government should Improve on", he added.

21

T H I S D AY Ëž ÍŻÍľËœ Í°ÍŽÍŻÍś

FEATURES

Honing Ingenious Young Talents Mary Nnah writes that the Young at Art Children Creative Workshop was designed to hone the inherent artistic talents and creative juices of children with a niche for creativity

Children busy with environmental art and recycling using disposed plastic water bottles as a medium

Music session piano class of Young At Art Children Workshop

R

very effectively, think out of the box and creatively, think solution and think value in a way, are all what we have been imbibing in the children over the years."

ecently at the City Mall, Onikan, Lagos, the Young at Art Children Creative Workshop, was held as they were wont to do every summer holiday for children between the ages of three and 19. As aptly tagged, the creative workshop was designed to boost the creative potentials in children and not necessarily to make them artistes or designers. So every year, Biodun Omolayo Art Gallery, brings together kids and young adult who have cravings for creativity for them to be coached and nurtured on the rudiments of art, so as to hone their minds for better productivity in whatever field they find themselves in the future. During this year’s creative workshop session which lasted for eight weeks, each child picked the section he/she has interest in – sketching, drawing, painting, sculpturing, moulding ceramic works and even music, among others.

Creative Potentials Chief Creative Officer, Omolayo Art Gallery and Founder, Young at Art Children Creative Workshop, Mr. Biodun Omolayo, said the programme which has been running for 14 years now, is getting bigger and better. He said: “The flagship of our programme at the Omolayo Art Gallery is the Young at Art Children Creative Workshop that has been running consistently for 14 years now. It is getting bigger, the content is better and we have better facilitators now and also have added news subjects to our programmes. A lot has been happening and we give God the glory. There has been a lot of improvement here and there. The gallery is getting bigger in terms of the quality of our collections and the qualities of our programmes. "Young at Art Children Creative Workshop is not necessarily out to make children become artistes. They can be if they want but the idea is that whatever field of endeavour they would like to go into in future, once this creative potential is developed in them, they would do better than those who have not gone through such programme. “If you become a lawyer, you are a creative lawyer and our own definition of creativity is problem solving and when you use your God-given talent to solve problems, that is creativity. So it is not just about drawing, painting or sculpting nor singing and dancing, If you are good at all these, better but

when you use any one of these to solve problem and add value to lives, then, you are creative. That is our own definition of creativity. And then when you are creative you would make money because money goes after value and once you are able to exchange value, you would make money and that is the purpose of that programme." And aside the traditional art classes, the Young at Art Children Creative Workshop has also added other subjects like creative writing and dictions. He added, “we realise that even when you draw or sketch, you still need to talk about your works to the public. And to speak to the public you need to know how to speak very well too.� Omolayo who himself has since inception, coached the children on creative thinking techniques, has been teaching the children on how to use their minds to bring about solution to problems around them. He said: “Everybody goes through this class. It is more like a general class for everybody. After you have painted, sculptured, sketched and written, then how do you use your mind because that is where the whole thing starts from - the ability to use your mind

Young at Art Children Creative Workshop is not necessarily out to make children become artistes. They can be if they want though, but the idea is that whatever ďŹ eld of endeavour they would like to go into in future, once this creative potential is developed in them, they would do better than those who have not gone through such programme

Training for Special Kids Apart from the yearly training for kids, the gallery has also extended its tentacles to making provision for special children who have one form of special needs or the other. “We know a lot of these special children are very gifted in the art and so we have created a space for them�, he noted, while explaining that this new unit of training for the mentally and physically challenged children was born out of his recent training on Children Programming and Museum Studies at the University College London. “Recently, I travelled out for further studies at the University College London, where I studied Children Programming and Museum Studies and when I came back, that brought about a lot of what we are doing here today. Coming back, I had to introduce a whole lot of things to the children’s programme to make it better�, Omolayo noted. He said the gallery is still trying to expand the more, especially the special children unit of Young at Art Children Workshop by training more facilitators, specifically for the unit, who are specially trained in that area to handle those children who are gifted and very special. The gallery he said, also runs special free programme on every May 27, which is Children’s Day celebration, where children from orphanages and public schools are admitted to the workshop for a whole day to sharpen their creative minds, while they are also being feted with food, drinks and music from live performances by popular music artistes. At the end of the day, the children do not just sharpen their creative minds but also go home with lots of gift items.

Pro Bono Training for Indigenious Kids The annual Young at Art Children Creative Workshop presently charges a token for each child to take part, but at the start it wasn’t so. He said: “When we started initially, we were not collecting a dime, but as things got more expensive and we never got sponsors, we decided to charge a token and what we even charge is not commensurate to what the children get here." He revealed further that even the token

they get from the creative workshop is expended on other charity activities carried out by the gallery at different times. So the money for the charity events, are proceeds from the Young at Art Children Creative Workshop, which he said serves as his gallery’s Corporate Social Responsibility (CSR), adding, “this year, we sponsored 13 indigenous children through eight weeks of coaching and training. We used the opportunity to mentor them also, telling them that there is more to life than roaming the street".

Creative Village The future plan for Young at Art Children Creative Workshop, Omolayo said, is to have a Children’s Creative Village, where parents can drop their children even for a week, month or even two months with all the boarding facilities intact. “It would be a creative village for children in Nigeria that will accommodate children from outside Nigeria, Africa and other parts of the world, where they would come and camp as long as they want. That is the ultimate for Young at Art and we are working towards that�, Omolayo said with so much enthusiasm.

Memory Lane Going down memory lane, Omolayo recalled how it all started and the journey that has culminated in the great success so far. “We took off in 2004 formally in Ikeja even though we started in the year 2000, later we moved to the National Museum, Onkan, and we later we got an office space at the City Mall, Onikan, where we currently operate from. We have been here for about seven years now. You can see that the place is far better than where we were before. All facilities are available here – a central AC, a toilet facility, spacious and conducive to dwell ambiance are all added advantage to us and the children. So once the children come in here for coaching, they don’t have any reason to go out until their parents come to pick them.� This year ’s edition of the children’s creative workshop ended a couple of weeks ago after eight week of intense training, coaching and mentoring culminating in an exhibition, where all the children’s works, which were fully framed and neatly displayed at the Biodun Omolayo Art Gallery for parents to see and also for art lovers to buy.

22

IMAGES

T H I S D AY Ëž ÍŻÍľËœ 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: Executive Director, Investments, Stanbic IBTC Asset Management Ltd, Shuaib Audu; Chief Executive, Stanbic IBTC Stockbrokers Limited, Titi Ogungbesan; and Acting Head, Innovation Digital Enablement & Analytics, Stanbic IBTC, Ovie Adasen; during the ‘Stanbic IBTC Innovation Challenge’ in Yaba, Lagos...recently

L-R: Actor, Temidayo Akinboro; Executive Director, the Initiative for Equal Rights, Xeenarh Mohammed; Katherine Obiang; and Executive Producer, ‘We Don’t Live Here Anymore’ Olumide Makanjuola, at the premiere of the new ďŹ lm in, Lagos...recently PHOTO: SUNDAY ADIGUN

A cross-section of the newly inducted members of the Umuahia Premier Club at the fund raising and induction of new members of the Club in Abuja....recently

L-R: Executive General Manager, Operations Support Services, Total E&P Nigeria Limited, Alex Aghedo; Chief Executive OďŹƒcer, Richardson Oil & Gas Limited, Akin Osuntoki; Managing Director, Nigeria LNG Limited, Tony Attah and Chief Executive OďŹƒcer, Seplat Petroleum Development Company, Austin Avuru, during the 10th PSRG- RICHARDSON Health, Safety, Security and Environment (HSSE) Forum in Lagos‌recently

L-R: Archbishop, African Church Lagos Province, Most Rev. Julius Ogunseye; Lay President, Mr. Babatunde Odufuwa; Primate, Dr. Emmanuel J. UdoďŹ a; Deputy Lay President, Mr. Debo Oduguwa; Provost, Ven. Adebayo Ologun and Warden, Col. Akinsola Aboyade Cole, during the 117th Founder’s Day Anniversary thanksgiving service of the church, Lagos...recently PHOTO: KOLAWOLE ALLI

Founder/CEO, Arise Women, Mrs. Siju Iluyomade (2nd left] with other members of Arise Group, at the Arise walk for life in Lagos..recently PHOTO: ETOP UKUTT

Director General, National Council for Arts and Culture, Segun Runsewe, (right) presenting a crafted ceramic portrait photograph of Liberia President, Mr. George Weah, to Deputy Minister for Commerce, Mr. Wilfred J. S Bangura during the India-Africa Project Partnership Symposium at Sheraton Hotel in Abuja...recently

L-R: Member, Board of Trustees, Joe Nwiloh Heart Foundation, Prof. Gbolahan Elias;h; Guest Speaker, Prof. Patrick GriďŹƒt; Chairman, Joe Nwiloh Heart Foundation, Dr. Jonathan Nwiloh; Member board of Trustees, Mr. Akin Omorodion; and Chairman of the Occasion, Mr. Folusho Phillips,during the oďŹƒcial launch/gala night of Joe Nwiloh Heart Foundation, in Lagos...recently PHOTO: ETOP UKUTT

23

T H I S D AY Ëž Ëœ ÍŻÍľËœ Í°ÍŽÍŻÍś

BUSINESSWORLD R A T E S MONEY MARKET OBB OVERNIGHT

A S

A T

REPO 22.50 % 20.86 %

CALL 1-MONTH 3-MONTH

21% 21 % 21.63%

O C T O B E R S & P INDEX INDEX LEVEL 1-DAY MONTH-TO-DATE

350.12% -0.03% 0.81%

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

5 , 2 0 1 8 S & P INDEX 1/4 TO DATE YEAR TO DATE

0.81% 6.26%

EXCHANGE RATE N306.40/1US DOLLAR* ĚŠ

Quick Takes Women Bankers Hold Annual Dinner

REWARD FOR EXCELLENCE

L-R: Group Executive, International Banking Group, First Bank of Nigeria Limited & Subsidiaries, Bashirat Odunewu; MD/CEO, Adesola Adeduntan; Group Executive, Treasury & Financial Institutions, Ini Ebong, and Executive Director/Head of Business Development, FBN Bank, UK, Tosin Adewuyi, during the presentation of the Best Bank in Nigeria 2018 award to FirstBank on the sidelines of the World Bank/IMF Annual Meetings in Bali, Indonesia‌recently

Rockefeller Partners EPIC-Africa

Analysts Task FG on Growthenhancing Policies Goddy Egene Financial market analysts have advised managers of the nation’s economy to implement additional growth-enhancing policies that would take more Nigerians out of poverty. The latest report issued by the International Monetary Fund (IMF) painted the shortterm forecast for the Nigerian economy poorly. Specifically, the fund revised its estimate for growth downward to 1.9 per cent for 2018 from 2.1 per cent, citing concerns about slow growth in agriculture and political uncertainties which restrain investment.

ECONOMY However, the fund held an optimistic view for the future as it upgraded its growth projection from an average of two per cent to 2.4 per cent between 2019 and 2023. The implication of this was that growth would trail population growth rate of 2.6 per cent for eight consecutive years. This further indicated that Nigerians would get poorer on the average, while the prospects for strong employment growth would remain bleak. The IMF predicted that the Nigeria’s population would grow faster than the growth in the

real Gross Domestic Product (GDP) over the next five years. This means that any expansion in Nigeria’s economy may not be enough to improve the standard of living of her citizens. In a related development, the IMF expects the gross debt figure in the country to rise faster than the nominal GDP for this same period. Commenting on the development, financial analysts at FSDH Merchant Bank said the uninspiring forecast stresses the need for Nigeria economic managers to implement additional growthenhancing policies that would lift more Nigerians out of poverty. According to the analysts,

one of the major reasons for the sluggish growth in the Nigerian economy and weak revenue generation was the inadequate infrastructure in the country. “Although FSDH Research believes Nigeria needs additional support in the area of infrastructure development, partnership arrangements with the private sector may offer a more cost effective funding method than debt option,� they said. FSDH explained that Nigeria’s inflation rate forecast by the IMF shows that there is no hope of single digit inflation rate before 2023. Continued on page 24

CBN Disburses N615bn to Farmers The Central Bank of Nigeria (CBN) has disclosed that as at August 20 2018, the total amount released under the Commercial Agriculture Credit Scheme (CACS) to participating banks for disbursement since the inception of the scheme is N615.43 billion. The fund was for a total 568 projects. In addition, a total of N499.22 million was guaranteed to 4,172 farmers under the Agricultural Credit Guarantee Scheme (ACGS) in August 2018. The amount represented a respective increase of 32.9 per cent and 7.8 per cent above the levels at the end of July, 2018 and the corresponding period of 2017. The CBN disclosed this in its monthly report for August 2018. Sub-sectoral analysis showed that food crop obtained the largest share of N318.50 million (63.8 per cent), guaranteed to 3,345 beneficiaries; livestock got

ECONOMY N63.35 million (12.7 per cent), guaranteed to 242 beneficiaries; fisheries sub-sector received N62.92 million (12.6 per cent), guaranteed to 272 beneficiaries; cash crop got N40.54 million (8.12 per cent), guaranteed to 245 beneficiaries. Others received N11.63 million (2.3 per cent), guaranteed to 52 beneficiaries, while the mixed crops sub-sector got N2.30 million (0.5 per cent), guaranteed to 16 beneficiaries. Analysis by state showed that 29 states and the Federal Capital Territory benefited from the scheme. The highest and lowest sums of N74.2 million (14.9 per cent) and N0.4 million (0.1 per cent) were guaranteed to Edo and Bayelsa States, respectively. Meanwhile, Nigeria’s crude oil production, including condensates and natural gas

liquids, was estimated at 1.85 mbd or 57.4 million barrels (mb) in the review month. This indicated an increase of 0.03 mbd or 1.7 per cent, compared with 1.82 mbd or 54.6 million barrels (mb) produced in the preceding month. Crude oil export was estimated at 1.40 mbd or 43.4 mb, representing an increase of 2.2 per cent, compared with 1.37 mbd recorded in July, 2018. The development was attributed to the repairs and reopening of major oil installations in the Niger Delta region. The allocation of crude oil for domestic consumption was 0.45 mbd or 13.95 mb in the review period. The average spot price of Nigeria’s reference crude oil, the Bonny Light (37° API), fell to US$73.70/b in August, 2018, representing a 2.6 per cent decline below the US$75.70/b recorded in July,

The Association of Professional Women Bankers (APWB) is set to host its annual corporate dinner on Friday 19th October, 2018 at the Oriental Hotel, Victoria Island.Aimed at providing a platform through which stakeholders in the banking industry can exchange ideas and proer solutions to help boost the industry as well as the nation’s economic growth, the 2018 dinner has the theme: “Funding Infrastructural Development in an Emerging Economy.â€? The keynote speaker for the Dinner is the MD/CEO, FBN Quest Merchant Bank, Mr Kayode Akinkugbe, while the guest speakers includetheMD/CEO,TheInfrastructureBank,MrAdekunleOyinloye and Barrister Mercy Oluwatoyin Ojo.“In addition to the insightful conversations,thedinneralsoprovidesagreatnetworkingopportunity to members and non-members who will have a chance to rub minds with other professionals in the banking industry. “The APWB Annual Corporate Dinner is open to men and women with a keen interest in the banking industry and Princess Abiodun Elegushi Adebajo will be in attendance as the distinguished guest of honour,â€? a statement from the organisers explained. TheAPWBistheWomenWingoftheCharteredInstituteofBankersof Nigeria(CIBN)whoseexistenceisconsistentlymarkedbyinnovative and pace setting activities and programme with a wide range of objectives which include: to promote the image of women in the banking profession and to encourage women to seek executive and managerial positions.

2018. The fall in oil price was attributed, largely to the rising oil supply from some OPEC and non-OPEC countries, most notably, Saudi Arabia, Nigeria and Russia. The UK Brent at US$72.03/b, WTI at US$ 51.82 /b, the Forcados at US$73.75/b, exhibited similar trends. The OPEC basket of fifteen selected crude streams stood at US$72.23/b in August, 2018. This represented a 1.5 per cent decline, below the US$73.30/b recorded in the preceding month, but a 45.6 per cent increase, compared with US$49.60/b recorded in the corresponding period of 2017. The report also put the total estimated statutory allocations to the state governments in the review month at N248.72 billion. This was lower than the 2018 budget estimate of

EPIC-Africa with the support of The Rockefeller Foundation has launchedthecallforapplicationsfortheďŹ rstAfricanCSOExcellence Awards. The awards highlight the importance of organisational capacity to achieve program impact, and showcase civil society organisations who demonstrate excellence across eight key elements of organisational capacity.These include: Strategic Ability and Adaptability, Leadership and Governance, Financial Health and Management,HumanResourcesandStaDevelopment,Operations, Communications, Partnerships and Alliances and Monitoring and Evaluation.The awards are now open to civil society groups across Africa to apply for the opportunity to fundraise on the international Global Giving Platform, beneďŹ t from a series of capacity building workshops,increasetheirmediavisibilityandparticipateinnetworking opportunitiesthroughtheAfricanCSOExcellenceAwardscommunity. EPIC-Africa is at the forefront of the charge to strengthen the infrastructure that supports civil society organisations and to deepen philanthropic impact in Africa. The Managing Director of The Rockefeller Foundation’s Africa OďŹƒce, Mamadou Biteye, said: “As a major development partner in Africa, it is imperative that we invest in initiatives that highlight the importance of organizational capacity for program impact.

AfDB Showcases Opportunities in Africa

The African Development Bank (AfDB) in multidisciplinary team roadshows has presented ďŹ nancial products and investment opportunities to Nordic investors to leverage more access to ďŹ nancing. The roadshows brought together more than 50 private sector companies, investors and government and public institutions inNorway,Sweden,Finland,andDenmark.Theaimoftheeventwasto bringtheBankclosertocustomersinordertoincreaseawarenessof keyprivatesectorstakeholderstounderstandtheBank’sďŹ nancialand riskmitigationproductsforinvestmentprojects. Theroadshowsalso generatedsigniďŹ cantinterestsofbusinessestotheAfricaInvestment Forum, the Bank’s maiden market place, scheduled for November 7-9 in Johannesburg, South Africa.The ďŹ rst roadshow took place in Norway on 24-25 September, followed by Sweden on September 27-28.InFinland,theBankmetkeyprivatesectorcompanies,private funds, and pension funds from 1-2 October and the ďŹ nal event was in Denmark on October 4-5.The Bank presented its strategy for the transformation of African economies and showcased investment opportunities on the continent.

“With a market of over 180 million people and with the resources available as well as the fact that over 50 per cent of our citizens are under the age of 30, we should continue things around the rail infrastructure, power, ease of doing business and continue to retain the favourable

MD, Ecobank Nigeria ,

Patrick Akinwuntan Continued on page 24

24

T H I S D AY Ëž Ëœ ÍŻÍľËœ Í°ÍŽÍŻÍś

ANALYSTS TASK FG ON GROWTH-ENHANCING POLICIES They said: “Although the government has been able to meet its debt obligations (interest and principal payments) so far, if the current situation is not addressed, the interest rate on government loans may increase because of the perceived elevated risk. “The double digit inflation rate may make the yields on fixed income securities remain high in Nigeria and thus increase the finance cost for private sector operators.� Also commenting on the IMF report, analysts at Afrinvest said: “While the specifics to this forecast are not public information, we note that the Fund’s main concerns with Nigeria are weak revenues which limit government spending and raise debt sustainability risks, and lack of structural reforms to boost the non-oil sector. “This is unsurprising as we have always stated that the lack of reforms will keep growth weak and below pre-oil price shock levels of 6.0 – 7.0 per cent. However, we are slightly more optimistic that growth will breach 2.6 per cent as early as 2020.� CBN DISBURSES N615BN TO FARMERS N354.04 billion by 29.8 per cent. It, however, exceeded the July, 2018 receipt of N222.19 billion by 11.9 per cent. Receipt from the federation account was N210.41 billion or 84.6 per cent of the total statutory allocations. This was 28 per cent below the monthly budget estimate of N292.28 billion. Similarly, the allocation from the VAT Pool Account at N38.31 billion or 15.4 per cent of the total, fell below the monthly budget estimate of N61.76 billion by 38.0 per cent. “Allocation to local governments from the Federation and VAT Pool Accounts in the month of August 2018 amounted to N146.46 billion. This represented a shortfall of 25.4 per cent relative to the 2018 monthly budget estimate of N196.25 billion, but was 5.0 per cent above the receipts in the preceding month.

NERC Moves against Abuse of Estimated Electricity Bills Chineme Okafor in Abuja The Nigerian Electricity Regulatory Commission (NERC) has disclosed it will stop the widespread abuse of its estimated electricity billing methodology by the 11 electricity distribution companies (Discos) in the country, and in this regard invited stakeholders in the power industry to tell it the best out of two options it has proposed to adopt to cap estimation of electricity bills by the Discos. NERC in a consultation paper it sent out on this, explained the issue of estimated billing has continued to constitute a major source of complaints by customers in all the Discos. It noted this has also led to calls by stakeholders such as the National Assembly and other customer groups for it to find a more equitable way of ensuring that customers are billed fairly by the Discos. NERC said its mandate has been to protect not only the customers but also the operators, hence its commitment to ensure that the responsibility of metering in line with Section (1) of the Regulation on Connection and Disconnection procedures, is fulfilled. It said the purpose of the consultation paper was to solicit comments from stakeholders on the setting aside of the existing estimated billing methodology, as well as explore various options provided to cap

the monthly estimated bills issued to customers in line with the previous charges applicable to the different tariff classes. NERC therefore offered two options from which stakeholders could pick from. It explained that the first takes into consideration actual energy delivered to metered customers as the basis for deriving the caps

of the various categories of unmetered customers. According to the NERC, in arriving at the capped figure, the energy consumed by the metered customers will be subtracted from the total energy delivered and which will then form the basis for determining the Caps Under another option, NERC noted that the average energy as

provided for in the MultiYear-Tariff-Order (MYTO) 2015 for each Disco would form the basis for computing the maximum cap for each category of customers to be affected. It added that the variables to be considered under this option would include tariff class; customer numbers under each tariff class; proportion of number of customers per tariff class to the

total number of customers; annual consumption in gigawatts; and annual consumption in kilowatts. “These variables would be used to derive the average monthly individual consumption in Kwh per tariff class which will represent the cap. This option is considered simple as energy delivered and customer numbers are authenticated in the MYTO 2015 model,� it stated.

DANGOTE BLOCKMASTER CEMENT

L-R: Group Head, Civil and Building Engineering, Standards Organisation of Nigeria (SON), Ugbaja Joseph; Deputy Director, (SON), Makwe Matthias; PermanentSecretary,OfficeofDeputyGovernor,LagosState,YetundeOdejayi;GroupManagingDirector/CEO,DangoteCementPlc, JosephMajoku and National President, National Association of Block Makers of Nigeria, Rasheed Adebowale, during the launch of Dangote blocmaster cement in Lagos‌recently ‌‌ SUNDAYADIGUN

US-Nigeria Council Promises to Attract More Investments Jonathan Eze The United States Nigeria Council (USNC) has unfolded plans to attract influential entrepreneurs to combat market challenges being experienced in the country by developing technology and innovation ecosystem. It also expressed readiness to connect investors with potential investments and mobilise capital for Nigerian start-ups and companies in a bid to further develop the country’s industrial expansions. Speaking at the round-

table breakfast meeting of the 73rd United Nations General Assembly in New York City, USA, the Executive Director of USNC, Eliot Pence, stated that the council’s mission was to promote bilateral business partnership and growth in Nigeria, especially focusing on entrepreneurial investment in the technology and innovation ecosystem. He explained that the council’s breakfast meeting served as a forum for connecting investors with potential investees to mobilise capital for Nigerian start-ups and companies. According to him, the event

brought together a range of ecosystem players to discussed innovation and entrepreneurial partnerships in technology, including over 45 leading Nigerian and American business executives and high-level public officials. Pence further commented that the council wants to bring influential entrepreneurs to combat market challenges in the ICT sector, stating that “Capital is one barrier, market access is another. USNC bridges that gap.� In his remark at the event, Minister of Industry, Trade, and Investment, Okey Enelamah,

told the US investors about the crucial need to leverage technology to address local challenges as well as efforts by the federal government to strengthen the enabling environment for businesses to operate in Nigeria. Enelamah commended the council for its work, stating “Nigeria stands to benefit from your effort.� He also spoke on the power of partnership and the exceptional stature of the “serial entrepreneur� members of USNC, adding “if you are looking for courage in business, it’s found in this room.�

The breakfast meeting was hosted by Chairman, USNC, Ambassador Terence McCulley, Co-Chair John Coumantaros of Flour Mills of Nigeria, and Pence. The USNC members were represented by the participation of Herbert Wigwe of Access Bank PlC; Wale Tinubu of Oando; Kola Aina of Ventures Platform; Tunde Folawiyo of Yinka Folawiyo Group; Ambassador John Negroponte of McLarty Associates; Christina Sass of Andela; Femi Akinware of Exchange Telecommunications Ltd; and Mamadou Beye of Chevron.

Nigerian Car Prototype to Boost Local Content, Employment Group Business Editor

ĂŒĂ“Ă˜Ă˜Ă‹ Ă’Ă“Ă—Ă‹ Capital Market Editor

ÙÎÎã Ă‘Ă?Ă˜Ă? AgriBusiness/Industry Editor

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

Ă—Ă—Ă‹ Ă•Ă™Ă˜Ă”Ă“ Senior Correspondent

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

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

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

Jonathan Eze A new Nigerian car prototype is expected to boost local content and create employment opportunities for the nation’s teeming unemployed youths in the country. According to the car designer and founder of IVIXI AIV design, Mr. Dapo Akintunde, the car is also expected to solve electricity problems, a scarce commodity to many West African countries. Akintunde during a press briefing to showcase the car, said the design was made from 100 per cent indigenous materials and in line with the culture of Nigerians and West

Africans to solve the problem of west Africans by ensuring economic growth. He disclosed that the prototype is designed with the Intel of a 2018 super vehicle as it would provide additional inverter capacity to supply its owner with electricity. “We envisage a situation where we have an engine unit after having run all day, would have its stored energy transferred and converted to a factory solution. “One can get home, plug the car to the inverter and you get electricity from that,� he said. He added that every part of the car is designed and driven

by many elements of the typical Nigerian warrior, with the challenges of the Nigerian roads and flooding situation in mind. “The car is designed to celebrate the exotic West African outfits and their wearers. “It is unapologetic in its design by its size and openness just like the Agbadas and Danshiki. “It opens its innards to the warm environment and allows airflow through its shield shaped side entrance, hence contrasting sharply from the genetically sealed western imports. “Its interior is minimalist yet classy, using original leather hide, hand-stitched in a beautiful intricate weave.

“Sharp searching headlights, defined front, jet-rocket propelled fins and Jetson glasshouses. “Its bulk, size and truss mainframe is protected against various rogue road bullies and against potential death from illmanaged haulage trucks and abandoned forty foot flatbeds that are an ever present danger on the road. “It has the capacity to carry six and can be expanded to accommodate nine persons,� he said. Akintunde said that the car is a real solution to a myriad of Nigeria’s and West Africa’s social, employment and transportation problems. “This definitely is an addition to our economic growth and

development. “We would ensure those with skills with little or no formal education are fully engaged in the industry which we would create to absorb them. “The telecommunications companies are not left out as an IPad specifically created for each car is what would be used to start the car. “In addition, because all of the parts are sourced here, manufacturers of those products would see themselves smiling to the banks,� he said. He disclosed that apart from conveying people from one place to another, the car was designed to serve as the farmers’ utility van and the soldier’s accompaniment.

T H I S D AY ˾ OCTOBER 16, 2018

25

BUSINESSWORLD

INDUSTRY

Imperatives of Self-regulation As the world marks World Standards Day, Jonathan Eze, writes on its significance and a need for an entrenched personal consciousness aimed at ensuring quality products and services As countries worldwide celebrated this year’s World Standards Day, (WSD)Standards Organisation of Nigeria (SON) October 14, has renewed its call on all stakeholders and indeed all consumers to subscribe to self- regulationwhich describes personal consciousness and desire for quality products and services. The theme of the 2018 edition of the global event was “International Standards and the Fourth Industrial Revolution.” In Nigeria, the WSD, is indeed a major event where representatives of government in relevant ministries and agencies and operators in different sectors of the economy participate. Besides speeches on the theme of the event, and other speeches and symposia, the event is also used to recognise stakeholders who are playing significant roles at boosting standardisation in Nigeria, even as the occasion is also used to present certificates to some companies who have completed one certification programme or the other. Last year for instance, the Minister of State for Industry, Trade and Investment, Hajia Aisha Abubakar-who represented the Minister of the Ministry Okechukwu Enelamah, moderated a technical session where private sector operators like the Nigerian Society of Engineers and others were involved. Some industrial firms were also presented with SON’s Mandatory Conformity Assessment Programme (MANCAP) certificate at the event-where SON also announced its collaboration with ISO on ISO 700-meant to help Nigeria’s quest to be a smart city. To the Director General of SON, Osita Aboloma, however, beyond the yearly celebration of WSD, it is very important that the world appreciates the essence of the global event by subscribing to self-regulation thereby making the job of regulatory agencies less challenging. Speaking specifically on standardisation in Nigeria, the DG said embracing self- regulation is part of the fight against substandard products across the countries. According to him, if the traders are determined to stock and sell only quality products, importers of substandard products would have no market for their nefarious activities. In the same manner, if consumers are bent on buying top quality products rather than buying cheap, poor products, the preponderance of substandard products in the country would be reduced, he stressed. The SON boss urged Nigerians to be more patriotic by patronising certified made in Nigeria products, citing Nigerian cables as an example of products that have been attested among the best in the world. The DG surely has a lot more to tell Nigerians as the nation looks forward to this year’s edition. With this year’s focus of WSD on the fourth industrial revolution and local industries barely managing to survive and very far from industrial revolution, one can only hope that they would still benefit as much as possible from this year’s forum. History of World Standards Day The WSD holds on October 14 each year to commemorate the day when in 1946, official representatives of 25 countries met in London and decided to form an international organisation which would focus on facilitating standardization. However, this agreement was not formalised until WSD when formally launched in1970 by Mr. Faruk Sünter, the then President of International Organisation for Standardisation (ISO). Specifically, WSD was formed by the International Organisation for Standardisation (ISO) to raise an awareness of the significance of standardisation to the global economy- among the industrial sectors, consumers and the regulators. It was formed through the joint efforts of experts across the world that voluntarily developed the technical agreements which are issued as International Standards. The celebrations of WSD are synchronised by different international standards organisations,

Osita Aboloma including the ISO, International Electro-technical Commission (IEC), Institute of Electrical and Electronics Employees (IEEE), International Telecommunication Union (ITU) and Internet Engineering Task Force (IETF). Standards basically help to confirm that all goods and services possess the same quality and standards irrespective of the place of manufacture. The benefits of World Standards Day International Standards assist the expansion of tailor-made resolutions which can be adapted to the particular situations of different countries. They provide global best practices and expert knowledge; even as they are vital enablers and .guarantors of quality and performance of goods and services. International standards facilitate the safe and smooth functioning of things at every level in the smart cities. They also provide the base for electricity access and support the information and communication technologies (ICT). International standards provide essential guidance for all characteristics of city life such as the construction of sustainable communities, improvement of waste management, intelligent transportation, and energy-efficient buildings. The benefits of celebrating WSD are numerous. It is a forum for networking-including socialisation, and experience sharing. It provides business opportunities, opportunities for partnerships-including public-private- learning experiences and access to a wide range of information-including updates in various fields. The day is used to promote the role of international standardization and to meet the needs of consumers, government, industry and business worldwide. By celebrating the World Standards Day, member countries confirm that they are in the race of making the world a better place to live in. According to ISO, the IEC and ITU, by assisting to make at least one part of the international trading system more resourceful and effective, the entire market can be more efficient. Eventually, a proficient and resourceful market benefits everyone including the consumers, testing

laboratories, governments, manufacturers, and all other members of the market. Justification for this year’s theme Experts have justified the choice of “International Standards and the Fourth Industrial Revolution” as the theme for this year’s WSD. According to them, “Just as standards were crucial during the first industrial revolution, over 250 years ago, they will also play a critical role in the fourth. The Fourth Industrial Revolution refers to the emerging technologies, which are erasing the traditional boundaries between the physical, digital and biological worlds. This increased connectivity of people and things will impact the way we produce, trade and communicate, much like steam power transformed production methods and the way of life of many societies during the first Industrial Revolution. In the 18th century, the transition from manual work to machinery and factory work raised the need for standards. For example, to replace machine parts and enable specialised mass production of components” “Today, standards will once more play a key role in the transition to a new era. The speed of change we are witnessing would not be possible without them. Innovators rely on International Standards, like those produced by IEC, ISO and ITU, to ensure compatibility and interoperability, so that new technologies can be seamlessly adopted. They are also a vehicle to spread knowledge and innovation globally.” “The rapid pace of change brought by the Fourth Industrial Revolution has its challenges. Robots and artificial intelligence will take over more and more tasks previously done by humans, additive manufacturing (also known as 3D printing) will change the way we make goods, and give us the ability to “print things” at home, and as everything from planes to baby monitors are connected digitally, the vulnerability of data and the consequences of a breach are growing exponentially. These are only some

examples of the issues presented by a new generation of smart technologies characterised by big data, increased integration, cloud storage and open communication of devices to name a few. International Standards are a powerful way to ensure safety and minimize risk. For example, security standards can keep our data safe and deter hackers. And safety standards for robots, will make it easier to interact with humans. The Fourth Industrial Revolution has begun, but in order to seize its full potential for the betterment of society, standards are needed”. How countries celebrate the day Across the globe, different activities are undertaken by standards regulatory authorities to celebrate WSD. In Canada for instance, the Standards Council of Canada- which is the national accreditation body of Canada- celebrates WSD along with the international society. It observes the day close to the international observance dates. In the year 2012, SCC celebrated World Standards Day on October 12, Friday. In the United States, the celebration of the WSD commenced in 1990 by the Standards Engineering Society. Every year, the activities of the U.S. are planned and managed by a planning committee. The committee consists of representatives and officials from the community of standards and conformity assessment. The yearly event has now become a joint endeavor between the public and the private sectorspecifically between the American National Standards Institute (ANSI) and the National Institute of Standards and Technology (NIST). Over 50 government agencies, corporations, standards development organisations, professional societies and trade associations usually participate in the event-which involves dinner, reception, essay competitions, exhibitions and presentation of awards for distinguished efforts in promoting the significant role of standardisation in boosting trade or eradicating the global barriers to trade.

T H I S D AY Ëž Ëœ ÍŻÍľËœ Í°ÍŽÍŻÍś

26

Growing Resilience to External Shocks There is need for policymakers to adopt measures that would guard the Nigerian economy against emerging risks in the global markets, writes Obinna Chima There is no doubt that risks are building in the global economy increasingly. This is even heightened by the growing trade tension between the United States and China as well as some form of nationalist policies being adopted in some countries. Indeed, the development has made the International Monetary Fund (IMF) to revise downward its economic forecast for most countries for this year as well as next in its latest World Economic Outlook (WEO). In fact, the IMF warned in the report that the world is now in an environment where financial conditions could tighten suddenly and sharply, just as it urged countries to advance policies and reforms that extend the momentum and raise medium-term growth for the benefit of all, while building buffers for the next downturn. The fund also raised concern of rising debt level in emerging economies. This clearly, was why at the just concluded IMF/ World Bank annual meetings in Bali, Indonesia, experts stressed the need for Nigeria and other oil exporting nations in dire need of structural reforms not to be tempted to delay the exercise due to the current higher oil prices. For Nigeria, a major oil producer, while it is good news that oil price has been on the upswing in the past few weeks, with Brent crude hovering around $80 per barrel, they urged policymakers in the country to put in place policies that would place the economy on a sustainable growth path and ensure that it doesn’t slip back into recession. The IMF estimated that Nigeria would achieve economic growth rate of 1.9 per cent this year, lower than the 2.1 per cent it had predicted previously for the country. Nigeria’s federal government is seeking approval to issue fresh Eurobond of about $2.8 billion. Already, the nation’s total debt stock (federal, FCT and states) had been put at N22.38 trillion ($73.21 billion) as at June 30, 2018 To the Counsellor and Director of the Research Department, IMF, Maurice Obstfeld, there is need for Nigeria to enhance its non-oil revenue mobilisation. According to Obstfeld, strengthening of fiscal positions is necessary to reduce debt vulnerabilities in Nigeria and other countries. “Boosting non-oil revenues and continuing fiscal consolidation plans remain key goals for oil exporters. The focus should be on growth-friendly fiscal adjustment, with a shift in spending toward productive and social outlays accompanied by frontloaded domestic revenue mobilisation, through for example, broadening the tax base and strengthening revenue administration,� he added. Also, the Head, Emerging Economies Regional Studies Division at the IMF, Anna Ilyina, pointed out that given that the global is still at an early stage of monetary policy normalisation in advanced economies, the global external conditions and external balance conditions would remain challenging going forward. “So, this is likely to result to protracted period of mobility of capital. In this situation, I will advise that foreign exchange reserves should be used judiciously,� she added. “In the case of Nigeria, there is one important driver that always affects its economic condition and that is oil. Nigeria being an oil exporter is always very sensitive to changes in oil prices.� Investment in Human Capital For the World Bank Group, the level of human capital development in any country is a key determinant of productivity in such a country. That why the Bank was miffed about the poor level of investment in health, education and technology by the Nigerian government. In fact, the World Bank ranked Nigeria 152 out of 157 countries surveyed in its new Human Capital Index (HCI). The HCI measures the amount of human capital that a child born today can expect to attain by age 18, given the risks of poor health and education that prevail in the country where he or she lives. The index measures each country’s distance to the frontier of complete education and full health for a child born today. The President of the World Bank, Mr. Jim Yong

Kim, said it was unfortunate that Nigeria, one of the most important countries in the world, was ranked 152 out of 157 on the HCI. He added: “Nigeria is one of the most important countries not only in Africa, but in the world. And so, we feel that it will be extremely important for Nigeria to really go on a different level all together in terms of their commitment to investing in human capital.� Kim described human capital as a key driver of sustainable, inclusive economic growth, saying, investing in health and education had not gotten the attention it deserved. Measures to Adopt To the Managing Director of the IMF, Ms. Christine Lagarde, in order not to be hurt by developments in the global economy, there is need for the Central Bank of Nigeria (CBN) to sustain its current tight monetary policy regime. She also reiterated the need for government to enhance non oil revenue mobilisation. “Domestic revenue mobilisation is five per cent of GDP in Nigeria and that is just way too low, relative to where Nigeria should be in order to address the issues of health, education, proper social spending on the people, and particularly the young people of Nigeria. “And there is need structural reforms, that would probably include really making sure that the refineries and the oil equipment that is available in Nigeria works well and works for the benefit of Nigeria,� Lagarde added. But CBN Governor, Mr. Godwin Emefiele, explained that due to concerns around ongoing interest rate normalisation in the United States, which was predicted to extend to some other advanced economies in Europe, the CBN would focus on maintaining a stable exchange rate so that businesses can plan and to avoid a problem in the banking system assets. Emefiele said there was no cause for alarm due to the recent decline in the country’s external reserves. He, however, argued that even though there was need to build buffers, “unfortunately I must say that we are in a period where it is difficult to talk about building reserve. “It is a choice we have to make and at this time, the choice for Nigeria is to maintain a stable exchange rate so that businesses can plan and we don’t create problem in the banking system assets. “Naturally, when this happens, it results in weakening of assets, rising non-performing loans (NPLs), and other wide implications. This is why we will maintain the posture we have

and we believe that it is sustainable in the short run,� Emefiele said. According to him, practically, all emerging markets have suffered, not just by depreciation, but also loss of reserves since the interest rates normalisation commenced. “India, for example, has depreciated almost 14 per cent, Ghana by almost 12 per cent, New Zealand by about 12 per cent, Indonesia by another 12 per cent, Australia by eight per cent, South Korea – eight per cent; Japan – six per cent; Thailand – six per cent; Philippines and Vietnam have also lost, but Nigeria has lost little or nothing. “While we are at this meeting, our host country has reported a loss of about $20 billion in foreign exchange reserves and at the same time suffered currency depreciation, which is the same for the rest of the emerging market economies. “For Nigeria, we have lost only reserves by a margin, in my view and at the same time, we have managed to sustain stability in our foreign exchange market. I think we have done a very good job, not only trying to maintain a stable exchange rate, but trying to avoid depreciating our currency so far in this early days of normalisation.� On her part, the Minister of Finance, Mrs. Zainab Ahmed, said the country is not anywhere near a debt crisis. Zainab said: “We don’t have a debt problem because at the ratio of three per cent of Gross Domestic Product (GDP), we have one of the lowest debts, in fact the lowest debt among our comparative countries.� According to Zainab, “What we have is a revenue problem and we need to work to increase our revenue to ease our debt service obligations.� She stressed the need for government agencies to enhance domestic revenue mobilisation so as to ease the debt service burden. “We have a lot of headroom to borrow but we are not rushing to borrow more because we have to consider the foreign debt service that we carry. “We really are in a situation where we have to consider increasing building fiscal buffers because even though the global economy is going positively upward, there is still a lot of fragilities. “A lot of countries, including our own, and the next wave of recession that might hit the global economy might not be the one that any country can quickly come out from unless the country has sufficient buffers.

“So as a country, both the federal and the states, we have to look at how to save more and we have to look at how to invest more in critical infrastructure that will yield revenue.� According to the finance minister, the proposed Eurobond that would be issued this year, if approved by the National Assembly, would be to fund the 2018 budget. “The budget has approval for us to borrow both locally and internationally and we have a bond issuance within the range of $2.8 billion that we need to raise before this year closes. That will be used to finance the capital projects in the 2018 budget,� she added. The Minister of Budget and National Planning, Senator Udoma Udo Udoma, disclosed that President Muhammadu Buhari had directed ministers and all members of the economic management team not to be distracted by activities surrounding the 2019 elections. The minister expressed optimism about the growth of the Nigerian economy. “With respect to the problem of debt-vulnerabilities, I agree with the IMF that it is an issue that requires constant monitoring. Even though Nigeria has one of the lowest debt levels among African peers, we realise that we need to improve our revenues to bring down our debt service to revenue ratios to more comfortable levels. “Accordingly, we are intensifying efforts on domestic revenue mobilisation and maintaining fiscal discipline. We are broadening our tax base through policy reforms such as the tax amnesty programme ‘VAIDS’. “This, amongst other measures, has resulted in the number of taxpayers rising from 13 million in 2015 to over 19 million. We are also deploying technology in tax and customs’ collections to automate processes and enhance efficiencies. “We are also on track to shifting our domestic debt portfolio to longer term maturities. And our external debt is primarily concessional borrowing, representing 54 per cent of our external debt as at June 2018,� he said. Also, the Director General of the Debt Management Office (DMO), Ms. Patience Oniha, said, “We can’t run from the fact that we need to generate more revenue.� She added: “Generating more revenue does not mean we should focus only on increasing production in the Niger Delta or praying for oil prices to rise, we have to generate long-term revenue. “How do you generate that? You have to enforce compliance, which is all about increasing the tax base and making sure that those who are paying are paying the correct amount and not just paying a small amount to escape.�

27

T H I S D AY Ëž Ëœ ÍŻÍľËœ Í°ÍŽÍŻÍś

Elevating Social Banking Offering of financial services through social media networks and platforms is changing the face of banking for the better, writes Goddy Egene Branch-based banking is steadily becoming unfashionable across the globe, while fresh alternatives are rapidly evolving and expanding. Even the nature of transactions at branches have hugely changed. The shift is mainly in response to consumer sophistication, new regulatory frameworks and demographic shifts which have prompted the movement of banking transactions to alternative channels. In today’s world, the bank has moved into people’s pockets, handbags and other carry-on devices, all thanks to inimitable technological advancements. It is all about following the herd. Such alternative channels as telebanking, self-service points, mobile banking, fax banking, automated teller machines (ATMs), call centres, point of sales terminal (POS), and Internet have emphatically joined mainstream banking as financial institutions respond to competition and an ever-changing landscape. In Nigeria, the race is on. Chief Executive Officer (CEO) of Wells Fargo, one of America’s largest banks, speaking at the Fintech Ideas Festival in January last year, highlighted the imperative of technology in driving modern banking. “Companies want consumers to be able to reach them from anywhere, whether on a computer or mobile device, and whether in a social media app or through a financial aggregating service,� he said. This is the era of social banking, a derivative from changing consumer preferences. But what really is social banking? According to experts and operators, social banking means the offering of financial services through social media networks or platforms. Among such platforms are Twitter, Facebook, LinkedIn, WhatsApp, YouTube, Blackberry Messenger and Instagram. Its essence derives from the fact that a large chunk of the global population is spending considerable amount of time on social media platforms, creating a huge opportunity for banks to engage and offer products and services through these platforms. The internet had about 4.16 billion users worldwide in December 2017 from a global population of 7.63 billion, according to Internet World Stats, an online portal on internet usage and population statistics. Africa, with a population of 1.29 billion, had about 453.32 million internet users during the period, with penetration at 35 percent. Nigeria had 98 million internet users as at December 2017, about 50.2 percent of the population, and reached 103 million in May 2018, according to the Nigerian Communications Commission (NCC). In May this year, the world’s largest social networking company, Facebook, announced that Nigeria had 26 million active users on the social networking site monthly. About 25 million of the Nigerian users access Facebook via their mobile devices. Active Facebook users in Nigeria in February 2016 stood at 16 million monthly, an increase of 6.3 percent from June 2015. Nigeria’s commercial capital, Lagos, has been rated the second largest hub for Facebook mobile use globally. The numbers are also impressive and growing on other social media platforms too. These figures undoubtedly present interesting statistics for the banking industry. A key question for most Nigerian banks is: “How can the social media help us to achieve our business objectives? For Chief Executive, Stanbic IBTC Bank Plc, Dr. Demola Sogunle, the growing number of people on social media makes online banking a natural trajectory to follow. “The platform has grown beyond a mere hub where people congregate just to maintain contact with their friends and family; it is now an inevitable platform for everyday live, including almost the entire spectrum of banking services,� he said. Apart from individuals, the social media has revolutionised the way people conduct business, the way government operates and the way society is organised. Stanbic IBTC

Shogunle

Bank, according to Sogunle, is quite active on the leading social media platforms in Nigeria through which it is engaging a wide spectrum of its clientele. He said social media will remain the fulcrum of future banking and Stanbic IBTC will continue to leverage it and other evolving technologies to power its operations and offer its clients value for money and time. The bank chief said banks must, as a matter of operational survival, embrace the new social tools enabled by digital technology to realise the full potential of social media enabled capabilities. While espousing the imperativeness of customer-centricity,

Branch-based banking is steadily becoming unfashionable across the globe, while fresh alternatives are rapidly evolving and expanding. Even the nature of transactions at branches have hugely changed. The shift is mainly in response to consumer sophistication, new regulatory frameworks and demographic shifts which have prompted the movement of banking transactions to alternative channels

Sogunle emphasised that connecting banks and social networks requires special focus on changing customer behaviour, which helps in determining the products and services to meet the needs of each focus group. The evolution of mobile apps has enabled people to perform a variety of banking transactions on the go, 24/7. In the case of Stanbic IBTC Bank’s mobile app, #APPyness, the customer can undertake banking, asset management, pension and mobile money services right from their mobile devices. “Our customers can see their bank accounts, mobile wallet, pension and mutual fund investments in one place, rendered in a beautifully-crafted visual design that gives them total control of their money and investments,� Sogunle said. The bank recently introduced its instant online account opening service, in line with its goal of helping to digitize banking in the country for convenience and seamless service delivery. The new service entails an instant and easy account opening process currently available to the general public for opening of two types of accounts, namely a bank account and an investment account. The new service came on the back of the inauguration of the bank’s pioneer selfservice digital branch in Maryland, Lagos, in December 2016, fulfilling another pledge to consistently deploy robust technology and overarching innovations to drive home its quest for ‘convenience banking’ and a ‘bank for everyone.’ Similarly, its online banking channel, called New Business Online, which was launched a few years ago, is an internet-based multi-currency, multi-country, multi-entity online banking channel. It enables clients conduct numerous banking transactions such as making payments to third parties, transfer funds between their own accounts and provides them with real-time access to their balances and statements for all accounts, across currencies, and even across countries. It is powered by a state-of-the-art technology and adheres to the highest levels of

user-friendliness. It is secure and allows multiple signatory authorizations, and it allows clients to set up users and authorizers according to their own segregation of duties. It has a sophisticated built-in messaging and reporting tool and audit trails. Across board, there is a consensus that the increasing emphasis on timely access to financial information, products and services makes imperative the harnessing of the power and reach of the Internet to provide convenient and targeted solutions. For the Standard Bank Group, to which Stanbic IBTC belongs, the objective is simple. “A combination of competition, customer feedback and our experience in other African markets, as part of the Standard Bank Group, has sharpened our insights into the needs and behaviours of customers and how best to address such needs. This has been instrumental in our unrelenting quest to develop unique value propositions to meet our customers’ expectations, applying a multiplicity of platforms, including the social media,� Sogunle stated. Online banking, in short demand just two decades ago, has experienced exponential growth with banks investing heavily in it to deliver such unique products and services straddling the entire financial services spectrum. Complemented by mobile banking and electronic solutions, among other channels, online banking has not only expanded the frontiers of innovation and convenience banking, it has also made branchless banking a reality. The benefits to customers are numerous and include convenience: Unlike a conventional bank branch, online banking sites never close; they’re available 24 hours a day, seven days a week, and they’re only a mouse click away. Ubiquity: Regardless of where the individual is, in or out of state or even out of the country when a money problem arises, all that is required is just to log on instantly to an online bank and take care of business, 24/7. Transaction speed: Online bank sites generally execute and confirm transactions at or quicker than ATM processing speeds, which is real time. Efficiency: You can access and manage all of your bank accounts, including IRAs, CDs, even securities, from one secure site. Effectiveness: Many online banking sites and mobile apps now offer sophisticated tools, including account aggregation, stock quotes, rate alerts and portfolio managing programmes to help you manage all of your assets more effectively. As banks deepen consumer-centricity as an operational ethic, the breadth of possibilities which technology has unleashed has rendered a distinctive niche on the social media a hard nut to crack. However, bolds efforts are being made, producing varying outcomes. Stanbic IBTC Bank and other banks have emerged frontrunners in the application of technological banking innovations to drive financial services. Besides banking, social media platforms have also been tipped as pivot of socio-economic development with the quantum of business activities already in trillions. Ultimately, making success of social banking requires having a deeper understanding of the client’s business, and having in place an excellent relationship management team and supporting business growth via targeted and relevant products and services solutions. A lot of credit must be given to Nigerian banks for their growing effort in developing online banking, an electronic culture, increasing investment in IT, deploying more ATMs and POS, as well as designing more robust and innovative financial solutions. Although today’s average banking customer is better enlightened, it is however clear that the scope to take financial services to many Nigerians is huge and technological solutions are helping to accelerate this process.

28

T H I S D AY Ëž Ëœ ÍŻÍľËœ Í°ÍŽÍŻÍś

Polaris Bank on Firm Ground Goddy Egene writes that the recapitalisation of Polaris Bank Limited with N786 billion amongst other rescue intervention in defunct Skye Bank appears to have paid off When news of the revocation of the operating licence of the defunct Skye Bank by the Central Bank of Nigeria (CBN), broke on Friday, September 21, it was like yet another banking sector “tsunami� was about to sweep through the Nigerian banking ecosystem again with palpable fears amongst majority of the bank’s customers as well as employees of the bank. Despite assurances of no loss of jobs and safety of depositors’ funds by the CBN, the Nigeria Deposit Insurance Corporation (NDIC) and Asset Management Company of Nigeria (AMCON), and the announcement of incorporated bridge bank, Polaris Bank Limited, to absorb the assets and liabilities of the former bank, customers in particular were nevertheless still apprehensive and not convinced. Here’s the reaction of a customer of defunct Skye Bank: “My sister called me that Friday evening, her voice shaky. She asked if I had heard the news and I said yes. She was distraught because she had opened an account for her 16-year-old son in the bank when he was four. The money in the account was substantial, and the plan was to fund the boy’s tertiary education. I told her that the CBN had assured safety of customers’ deposits, but she was still worried. ‘I will go to the bank first thing on Monday morning and clear the account,’’ she vowed. True to her word, she was first on the queue at her branch on Monday, September 24 but after relating with her account officer, she realised that she had been fretting for nothing. “The account is still intact with the new Polaris Bank,� Adeolu Ajayi, another customer with the bank who had knowledge of the story told THISDAY. Like his sister, Ajayi’s company’s corporate and employee salary accounts are also with the bank. He had also gone to his branch same Monday post revocation of Skye Bank’s licence, and having been assured of the safety of his money by his account officer, he only made a small withdrawal contrary to his prior decision to close down the account. Unexpected news Nobody expected the withdrawal of Skye Bank’s operating licence and the fact that the regulatory action came on a Friday only heightened fears. CBN Governor, Godwin Emefiele, who broke the news to journalists at a press conference in Lagos, though assured depositors that their funds were safe. Emefiele, who jointly briefed journalists alongside Managing Director of the NDIC, Umaru Ibrahim and that of the AMCON, Ahmed Kuru, gave detailed explanations for the action taken on Skye Bank. He said the regulatory action taken on the bank was a follow up to earlier action the CBN took in July 2016 over operational lapses including poor corporate governance, and liquidity and solvency challenges. The CBN governor disclosed that the latest move was taken to stop Skye Bank relying on the apex bank’s intervention to remain afloat and that considering the credible performance of the management installed after the July 4, 2016 action, they would stay in charge of the new Polaris Bank. He said: “Given the good performance of the board and management, the CBN shall retain them. In addition, all employees of Skye Bank shall be absorbed by Polaris Bank under a new contract unless an employee decides to opt out.� The journey so far Almost a month after the CBN’s action and the emergence of Polaris Bank, it is noteworthy that the new institution is sure-footedly on the path of stability and sound business ethics. The injection of a new sum of N786 billion into Polaris Bank by the NDIC has been a safety assurance for depositors’ funds while the retention of the experienced management and operational teams has also boosted customers’ confidence in the new bank. All accounts and

Abiru records of depositors have been automatically and successfully migrated from the old Skye Bank to Polaris Bank, and customers have been enjoying uninterrupted and seamless banking transactions. Mrs. Anu Edun, a customer at Alausa, Ikeja branch of Polaris Bank, said she has no reason to stop using the bank. She said:

“I initially resolved to close my account and move on, but I realised that there is no cause for worry because normal and uninterrupted operations have resumed since September 24, in all the branches now absorbed by Polaris Bank. I have been able to operate my account normally, and I have seen others doing so too. So, I will continue using the bank. My only prayer is that the process of getting new investors should be speedily completed.�

What we see in the next ďŹ ve years is a stronger retail and commercial bank with an underpinning for digital transformation. I see a major transformation of the bank. Part of the initiatives we continued to deliver following the July 2016 regulatory intervention includes stabilising the institution, entrenching sound corporate governance and risk management practices, and the restoration of depositors’ conďŹ dence

The Naysayers Despite the assurances from the CBN and the best efforts of management and staff, Polaris Bank has not been without its critics. Some have claimed that it was not appropriately registered as at the time the CBN announced its formation and that the apex bank had something to hide. However, incorporation documents from the Corporate Affairs Commission (CAC) confirm that Polaris Bank Limited was duly incorporated on September 14, 2018, as a legal entity authorised to offer banking and financial services. Its registration number on the CAC Register is RC 1525101. The CAC further affirmed this in a statement issued on September 24, 2018. In spite of the explanation from the CBN, some other commentators have also queried why the Mr. Tokunbo Abiru-led management was retained, asking it to account for investors,’ funds. But having found them proficient in the efficient manner they piloted the affairs of Skye Bank since July 2016 when they were first appointed, the CBN found no ground to stop them from continuing the good works they have been doing, more so as the collapse of Skye Bank was not in anyway connected with their time in office as the real harm had

been done prior to their assumption of office. On the issue of shareholders of the defunct Skye Bank, the regulators , including CBN, NDIC and AMCON, said they are handling that. According to them, Polaris Bank is a nationalised bank under their supervision. A bright future Though it is early days yet, the omens are good for Polaris Bank, with management and staff whose job security are already assured, pulling in the same direction to ensure business continuity, profitability and overall success of the new bank. Speaking on plans for Polaris, Abiru disclosed that, “What we see in the future is a bank that, in the next three to five years, is one of the first five banks in Nigeria; a fully-fledged retail bank with strong digital backing. So, our stakeholders will get more of enhanced values which are different from the bank of the past.� “What we see in the next five years is a stronger retail and commercial bank with an underpinning for digital transformation. I see a major transformation of the bank. Part of the initiatives we continued to deliver following the July 2016 regulatory intervention includes stabilising the institution, entrenching sound corporate governance and risk management practices, and the restoration of depositors’ confidence.� A month after its intervention, the decision of the CBN to save one of Nigeria’s Systemically Important Banks is yielding fruit. Polaris Bank seems to be on a smooth drive to a great rewarding future for depositors and employees barring any unforeseen odds on its way. But for now, it would seem the future looks good for Polaris Bank.

T H I S D AY ˾ WEDNESDAY OCTOBER 17, 2018

29

30

T H I S D AY Ëž Ëœ ÍŻÍľËœ Í°ÍŽÍŻÍś

Shift to Gas Economy Ernest Azudialu-Obiejesi Distinguished guests, ladies and Gentlemen, I am always pleased to be part of any conversation aimed at improving the Energy sector in Nigeria. This is not only because I am a major player in this sector but because I hold the very strong view that this sector still represents the pivot on which dreams of Nigeria’s economic transformation lie. The theme of this year’s Nigeria Gas Conference - “Shift to Gas Economy: Pace and Scale of Innovation� could not have come at a better time. Indeed, this sector despite its very well documented potentials is in dire need of innovation from public and private sector players. Over the years, there have been no shortage of policies from the Federal Government to strengthen the gas sector and make it a major contributor to Nigeria’s GDP growth. In fact this was the thinking behind the Domestic Gas Supply Pricing and Regulatory Policy of 2008. Sadly, the audacious goal of having the gas sector contribute up to 10% to Nigeria’s annual GDP has yet to materialize. Inadequate investment in upstream gas development, pipeline and other related infrastructure has resulted in both inadequate aggregate gas supply and several stranded gas assets across the country. The well-intentioned plan to set up Central Processing Facilities (CPF) in 3 franchise areas has also not worked because of the obvious limitations in the commercial arrangements driven by government and International Oil Companies (IOCs). Government may need to review the existing CPF franchise arrangement and invite indigenous companies to drive the gas processing infrastructure that will serve as the building block of a re-loaded Nigerian Gas Master Plan (NGMP). Furthermore, the thinking behind the Domestic Gas Obligation (DSO) in the present policy framework is commendable as it shows Government truly wants to stimulate growth of the domestic gas market. Has this worked?

Azudialu-Obiejesi The answer is a resounding NO if you are on the gas supply end of the value chain. Distinguished ladies and gentlemen, as you well know, the Power sector accounts for over 80% of the domestic gas off take market. Liquidity issues in the Power sector means that gas producers are owed huge sums of money for gas they have supplied. Furthermore, they cannot get the required financial securitization to invest in additional supply of gas to power generating

companies (Gencos) even if the infrastructure were in place. As a player in the power sector, I am very conversant with the liquidity issues bedeviling that sector. I am of the very firm belief that if the liquidity issues in the Power sector are resolved, the gas supply industry in Nigeria will experience a boom and the need for price regulation and other forms of government interventions would diminish. Gas Flaring is the result of these obvious gaps

in the gas industry. Despite the best efforts of Government, the menace of gas flaring continues to linger. The recent Gas Flaring Regulation embedded in the 2017 Gas Policy is an audacious and innovative step by Government to discourage gas flaring. Apart from increasing the penalty for flared gas to $2/mscf, the policy seeks to commercialize the utilization of flare gas through 3rd party investors. This is quite commendable but I doubt that it is far reaching enough. This is still akin to treating the symptoms rather than the root cause. A permanent solution would be to address the liquidity issues in the downstream and power sectors to encourage much needed investments in gas gathering infrastructure that would eliminate gas flaring. Distinguished ladies and gentlemen, everyone agrees that a willing-buyer-willing seller arrangement is what will ultimately unbundle the Gas industry in Nigeria and across the West Coast but Government must be ready to make the right seed-investments and take the tough decisions that will enable the gas supply market grow into maturity. Price regulation cannot stimulate the right investments in the gas sector. Finally I must call on Government to continue to encourage indigenous players in the Oil and Gas industry. OML 42, which we acquired in 2011 was fraught with a lot of challenges at the time it was sold by the IOCs. We are proud to announce however that Gas production of 40MMScf per day is set to be introduced to the domestic gas supply network by the end of this week with another 40MMScf per day being targeted for end-November 2018 for a total of 80MMScf per day by the end of this year. Furthermore, the NPDC/Neconde JV is working on projects that will supply 280MMScf/d by 2021. Examples of similar feats by indigenous companies abound in the industry. We can do it. Azudialu-Obiejesi, Group Managing Director, Nestoil Group, gave the speech at the Nigeria Gas Summit 2018 Abuja, Nigeria recently

Pension Conundrum and the Enugu Model Laurence Ani Statistics are seldom ever both cheery and grim. But the National Bureau of Statistics’ (NBS) recent report that Nigeria’s Pension Fund Asset in the second quarter currently stands at N8.232 trillion - up from the N7.943 trillion recorded in the first quarter - is one such. It was cheery as it offers a strong hint of just how successful the contributory pension scheme has been. But its grimness is not immediately deducible. It lies rather in our collective bitter reckoning as we ponder what might have been had states in the federation fully embraced the scheme since its launch in 2004. The result is that pension bills continue to rise annually in every state as more civil servants join the rank of retirees, putting an extra burden on their resources and, indeed, causing many states (with the exception of a few like Enugu) to fall behind in meeting this important obligation to the country’s senior citizens. The statistics puts further scrutiny on the Defined Benefits Scheme apparently preferred by state governments which, as the Nigerian contemporary experience shows, is mostly not funded as it should besides being susceptible to abuse. Of course, it’s needless saying the total embrace of this defined scheme that leaves retirees’ pensions to the vagaries of monthły income of states (determined to a large extent by funds accruing from the Federation Accounts Allocation Commission through the NNPC’s oil sale) is the root of the current pensions conundrum in Nigeria. It is in the light of this that reports that the Enugu State government’s committee on the contributory pension scheme had commenced work on modalities towards its adoption and possible implementation come as welcome news. This emerged during a solidarity visit by pensioners to the Enugu State Government House on August 29, this year. But even more gratifying than the hint of the state government’s robust plans for pensions that emerged from

Ugwuanyi that visit was the import of the action itself, given the usually less-than-salutary relationship between pensioners and the establishment as seen in most states. The pensioners’ visit was, to all intents and purposes, a massive vote of confidence in Governor Ifeanyi Ugwuanyi for whose re-election they also pledged support. “We are very much convinced that you are one of the foremost pensioner-friendly governors Enugu State has ever produced. Despite all odds, you have continued to pay us pensions regularly. You authorised the release of N100m every month to pay the backlog of accumulated gratuities which you inherited from past administrations,� the chairman of the Nigerian Union of Pensioners’ Enugu State chapter, Comrade Damian Udeani, said during

their visit. A further hint of how despondent the pensioners had been in the period preceding the Ugwuanyi administration could be gleaned from this comment by Mr. Nana Ogbodo, executive secretary of the Local Government Staff Pensions Board. “When we came in, they had even forgotten how to count the arrears they were owed in months. They had, as a matter of fact, taken it for granted that gratuity was not something they were entitled,� he said, adding that pensioners in the state had the best Christmas in years last year as the governor had deployed a substantial part of the state’s share of the Paris Club refund to settling arrears of gratuities. Even if not clearly stated, the case for adopting the contributory pension scheme is made

further compelling from the revelation, during the pensioners’ visit, that the Enugu State monthly pension bill has risen to N500 million. So, it implies the state government pays an estimated N6bn each year to its senior citizens which would roughly translate to a humongous N24bn by the end of the governor’s first term in office. There is hardly any state that can comfortably bear such burden given the fact that pension bill rises as workers retire every year. This dilemma was succinctly captured by Ogbodo: “And whereas the numbers are rising, the resources are dwindling.� This high figure, which obviously puts an enormous strain on Enugu’s wage bill is so because the state has one of the highest number of pensioners in the country due to its peculiar status as former capital of Eastern Region, East Central State and old Anambra State that today comprises Anambra, Enugu and a substantial part of Ebonyi. The old pension scheme - still prevalent today across the country and to which the elderly government retirees are accustomed - has become so prone to manipulation as apparent from frequent reports in the media of “ghost pensioners� unmasked through biometric audits. Gov. Ugwuanyi is optimistic the contributory pension scheme will eliminate the sundry corruption associated with the current mode and enthrone a more transparent system. Although implementation may be a very long way from now, it yet offers a glimmer of hope that there is end in sight to the endless rounds of verification exercise that pensioners are often subjected, and that they may soon not have to “perpetually chase after their pensions�’, as the governor rightly noted when the senior citizens came visiting. r"OJ GPSNFSMZ FEJUPS PG 5IJT%BZ 5IF Saturday Newspaper and later Saturday 5FMFHSBQI JT B TFOJPS DPNNVOJDBUJPOT BJEF UP UIF HPWFSOPS PG &OVHV 4UBUF

T H I S D AY ˾ WEDNESDAY OCTOBER 17, 2018

31

32

T H I S D AY Ëž ÍŻÍľËœ Í°ÍŽÍŻÍś

EDUCATION Foundation Advances Literacy Course with Library The launch of Flipbook Foundation For Literacy Advancement, a centre which started just as an act of charity in Lagos, portends positive contributions towards the problem of literacy among children in public schools. Ferdinand Ekechukwu reports

A

short musical interlude with appropriate theme song for the occasion following a brief introductory remark had set the guests thinking of the subject of the day. The lyrics of the song, ‘Greatest Love of All’ by the legendary Whitney Houston, that the children are the future and deserve to be taught well so they could lead the way as the beauty they possess inside gives them a sense of pride to make it easier, synergies with the subject of the occasion. So it was about the future and apt that it is important that every child gets the opportunity to learn. This was the crux as friends, family, stakeholders and the media gathered to push the boat out with Flipbook Foundation For Literacy Advancement during the opening of its flagship centre recently at Ilupeju Lagos. The Flipbook Foundation is a literacy organisation that pushes for the development of young minds. The importance of the centre is to help develop the minds of young people, especially children and teens with literacy programmes. The centre would serve children around the Oshodi, Mushin, and Ilupeju communities to learn and improve their reading and literacy skills. There at the centre are a large collections of various books moderately displayed on the library shelves. Some of the books are from donors and volunteers, while some were bought from the bookstores. The collections speak much of the period over which these books have been gathered. “Some other time since we have been working over the years, we have always had them but not on shelves like this. So we said let’s build the shelves and put them up and this is what we got. Opening time here every day weekdays is 9am -6pm. But children can come in from 2pm after school. “We had literacy programmes done across public schools in Lagos and outside Lagos and we discovered that a lot of young people have issues with reading, writing, spelling and pronouncing and these are key factors that pre-empt the mind of any young child�, one of the tutors and coordinator of the centre, Opere Oyindamola, explained as she welcomed guests. “Any child that has difficulty reading, it might be normal or might not be normal, there are special situations that can pause a child and then the parents might not be aware, the teachers might not be aware. It might just be that the child is not showing the symptoms of such disabilities but has them. “So this literacy centre is built to help cater specially for children; children that have such disabilities. Children that are also normal minded, but just have difficulties reading due to reasons we never know. So we are here to help them. This is our flagship centre the first of many to come by the grace of God across Lagos, across Nigeria and beyond. We need everybody, every member of the society to be part of this to grow.� The centre, which started as an act of kindness to solving literacy problem with children in public primary and secondary schools in Nigeria by an individual, portends positive contributions towards the problem of literacy among children

Some children at the newly inaugurated library and adults in the country, especially that the present statistics of literate and non-literate Nigerians are put almost at per (within the ratio of 50/50) according to the United Nations. Consistently with hard work and with determination to push to where it is now, the founder of the Flipbook Foundation, Mrs. Belinda Nzeribe, a literacy advocate whose sole task is to help children to read and write so as to succeed in school and in their lives, narrates her journey. “I started this foundation because I went into the public schools one day to run a creative writing programme and we were trying to come up with ideas and I said okay ‘let’s write this sentence’ and by the time they were done and have submitted their works, many of them could not

I started this foundation because I went into the public schools one day to run a creative writing programme and we were trying to come up with ideas and I said okay ‘let’s write this sentence’ and by the time they were done and have submitted their works, many of them could not write coherent sentences

write coherent sentences. “This was senior secondary two (SS2), SS3 classes. I thought it was a joke, somebody then said it was worst in primary schools. So we went to primary schools and found out that nearly half of every class in every primary school all over the country cannot read and write.� Befuddled by her explanation, she added: “It’s an emergency that many of us are actually not very aware of. An illiterate child or a low literate child, if there is no intervention, would certainly become an illiterate adult. So what do we do when teachers are overburdened with a heavy curriculum, large classes and must close at a certain time with little time for after school programmes? It means that the private sector has to come in to help because if you say the government should do it, we probably would wait for long and nothing would be done. “The dream is we need to set up these centres in every community that we can all over Lagos, all over Nigeria. But we start with just this one. So what we do is allow the children to come in and we take them for literacy classes; we teach them reading, we teach them comprehension because it is different being able to read and you cannot write. So some can read they can’t write. So we teach them how to read how to write, comprehension and then vocabulary. And then we move on to writing and after that, we do it in such a way that these children can learn in school. So if you can read you can write you can learn. And you can access opportunities; you can be able to survive in this country and make something out of your life.� The Literacy Advancement Foundation intends to serve children who are struggling with reading so that they can also be able to improve their reading level and learn in school. The founder noted that the centre is going to serve everyone, adding that the children can walk in any time after school even on weekends to read. With book shelves

everywhere, the children will have access to the books. For children who don’t have books in their homes, they can come and read as much as possible at the centre. While commending the efforts of the founder, the Director, Agency for Mass Education, Lagos State, Mrs. Kemi Kalesanwo, who represented the Special Adviser to the Governor on Education, Mr. Obafela Bank-Olemoh, explained that “because the government cannot do it alone, we need people like this, we need organisations like this to assist us, especially in the area of literacy. I head the Agency for Mass Education so I know what it is when they say some people are not literate and some people are literate. It is a big problem in the country; it is also a big problem in Lagos State. “But Lagos has taken the bull by the horn because the governor is equally very passionate about literacy programme in the state, not just for children but also for adults. We have a whole lot of people, a whole lot of adults who can’t read and write. The governor believes in adult literacy; literacy generally. He believes everybody should be able to read and write. And so the agency was given this mandate to go out and increase the number of literates that we have in the state. And so part of it is collaborating with NGOs now that is what we are doing here; we are collaborating so to say with Flipbook Foundation. “We need people like this to come and assist, the government alone cannot do it. What I saw when I came in here today I was really impressed. Not everyone has the money to send his or her children to a private school. So if you go to a government school in the evening after school you can always come in here. It is like a mini library so to say for teenagers and for children. They come in here get books to read and if they can’t read very well they have instructors who can put them through. So it is really a beautiful project.�

33

T H I S D AY Ëž ÍŻÍľËœ Í°ÍŽÍŻÍś

EDUCATION

FIEW: Teaching Legality, Morality in Financial Matters Harmonising legality with morality in Islamic Banking and Finance was the focus of a lecture recently organised by the Forum for Islamic Education and Welfare for its members in Lagos. Uchechukwu Nnaike reports

I

t is often a challenge in financial transactions as morality is always being questioned particularly when the other party is tricked, cheated or shortchanged. Globally, this practice is not restricted to individuals, private organisations or even conglomerates alone, as it applies to countries. The bottom line is maximizing profit in a crooked way without putting others into consideration. As a result of the global recession, new and alternative approaches to curbing and prevailing economic problems have begun to circulate among both the economists and the public. The Islamic financial system has emerged to become a possible solution to the mayhem. However, implementing Islamic banking and financial practices would require adopting their under-guiding Islamic legal and moral frameworks. Departing from these foundations of Islamic law could render the activities conducted under its name religiously unacceptable and perhaps philosophically problematic. Thus it is crucial to understand these foundations in order to consider the viability of incorporating the Islamic approach to finance into the mainstream practice more seriously. Generally, how does the populace perceive the concept of morality and legality in Islamic banking and finance, which also extends to their day-to-day activities and career? Though formed in the 50s by some Arab Egyptian elites as a cooperative society, which later blossomed and extended to the west; the western view on morality is doing the right thing, while morality is legally backed in Islam which encourages people to do the right thing for a reward now and the life after. To address the issues of legality with morality in Islamic banking and finance taking into cognizance its moral and legal burden backed by law and to educate its members particularly Moslem brethren and the implications of engaging in underhand dealings in the course of transactions, a breakfast lecture was put together by the Forum for Islamic Education and Welfare (FIEW) to celebrate its President, Amir Mobolaji Lawal, who turned 70 on October 1. In a paper titled ‘Harmonising Legality and Morality in Islamic Banking and Finance, the guest lecturer and Head of Research Kulliyyah, (Faculty) of Islamic Revealed Knowledge and Human Sciences, International Islamic University, Malaysia, Prof. Luqman Zakariyah, critically examined the feasibility of harmonizing morality with legality in Islamic finance. In doing so, he revealed what constitutes morality and legality in the Islamic legal theory, and critically examined the approaches of Muslim classical scholars in fusing the two elements together for the realization and actualization of the objectives of Shariah. Zakariyah noted that while transacting business, there are certain areas that parties involved must put into consideration to avoid their morality being questioned. While ethics and morals are the core of Islamic law in general and also of rulings on commercial transactions, the speaker pointed out

L-R: Alhaji RaďŹ u Ebiti; his wife, Alhaja Adebisi; guest lecturer, Prof. Luqman Zakariyah; and Executive Secretary, Forum for Islamic Education and Welfare, Dr. Tajudeen Lawal at the lecture in Lagos‌ recently that the principles underlying the Islamic ethical system revolve around the unity of God. While pursuing economic well-being is encouraged in Islamic law, engaging in dealings that involve prohibited substances such as alcohol, pork-related products and gambling is legally and morally forbidden. In addition to these instances, certain commercial behaviors or activities (such as ambiguous dealing) are also prohibited, owing to the Islamic moral value of not compounding financial problems on people or not exploiting the concept destitution and desperation to get out of a problem. He added that Islamic moral standards and resulting approaches to finance and banking is thus a subject worth exploring, especially with regard to how they can gain acceptance within the western conventional economic system, as these two systems interact; however, challenges naturally arise. In recent times, scholars on the Islamic Finance Industry (IFI) have been calling for the integration of Islamic moral norms with legal theories in the industry. Among reasons for this call are unethical trends in product innovation and execution of the industry. The don noted that with their keen observation and deep knowledge, scholars at various times have raised questions of the relationship between morality and legality and samples of Islamic finance products are evaluated to dig out their moral and legal dimensions. The observations of these scholars he stressed revolve around a professional’s pragmatic approach in the field of Islamic banking and finance. He said a scholar once pointed out that the current practice of Islamic finance is that the legalistic forms of contracts are fulfilled but the substance and spirit are not. And for a clear understanding, three typologies of Islamic finance products in the market were identified

such as Shari‘ah-based products, Sharia’s-compliant products and pseudo-Islamic products. Throwing light on the rules that guide the aforementioned typologies, the scholar stressed that Sharia-based products which fulfil both social and legal codes of law emphasise that one shouldn’t take bribe because it has consequences; don’t concede information to exploit your fellow human being while transacting business; and don’t sell the house of mortgage defaulters. Pseudo Islamic on the other hand forbids using tricks while doing business. “How can you harmonise all of these rules in business activities particularly by avoiding maximizing profits in a crooked way?� According to Zakariyah, the answer is simple, “by appealing to your conscience that in whatever you do there is a reward, bearing this in mind, you won’t trick, dribble or shortchange your fellow human being.� While the purpose of embarking on a business venture is to make profit, what is then the moral implication of a mortgage defaulter as owners often take repossession of their properties or if a brethren borrows money and refused to pay back? According to the speaker, mortgage is a prevailing issue and at the same time it is a necessity. “Well, mortgage issue depends on how you structure it. And in case the occupant defaults, provided it is not a business avenue, you don’t need to give him/her a respite but to negotiate. Note: provided the mortgage in question is meant for residential,� he stressed. “In most cases, if it is a bigger house you can sell it and get a smaller place for the occupant. It is a win-win situation as the owner gets his/her money back and at the same time the former occupant is not rendered homeless.� Speaking on the take away from the lecture, the

convener of the programme, Alhaji Rafiu Ebiti expressed delight that the speaker was able to throw more light on the topic because there is always confusion about what is moral and legal in Islamic banking. “For instance, he gave a vivid example of mortgage that in case there is default, there shouldn’t be a quick repossession. That is, one should look at it as if he is helping the human kind. I think we have done a lot by bringing a lecturer all the way from Malaysia who is an expert on that. It is also an opportunity to celebrate Amir Mobolaji Lawal who has been a role model in Islamic tower.� The Executive Secretary of the forum, Dr. Tajudeen Adebayo said he is happy that the forum has impacted the people since it started. “The forum has provided avenue to educate our members on issues that affect them in all facets of life. The second aspect is welfare of our members where the privileged through Zakat programme and other charities touch people’s lives. My take away is that I got what it obtains in Malaysia where morality has been legalised which makes it compelling that you don’t make it personal but legal whereby you don’t do things just because but it has become a way of life but backed by the legal system.� For Dr. Fatai Kayode Lawal, the Managing Director, Sterling Assurance Nigeria Ltd, what the erudite scholar has done showed a clear demarcation between what is both legally and morally required in Islam and that there is a thin line between the two. “Those things that are morally required are not obligated or compulsory for Moslems but those who are legally required you can’t do anything about it. He now emphasized that when you are involved in financial transaction or any other transaction you should be conscious of fear of God and be fair to your fellow human beings.�

OVH Energy Boosts Artisans’ Skills through Oleum Academy The Nigerian economy abounds with artisans in various fields ranging from carpenters to shoe makers, bricklayers, tailors, mechanics, painters, dry cleaners, among others. In fact, these artisans, almost in every corner of each street are considered huge contributors to the Nigerian economy. They are seen as job creators and job providers as many of them take on apprentices that they train to learn the trade in which they specialize. Recently, there have been growing concerns that these artisans lack professionalism and competence. Some others have complained that the artisans are lackadaisical and lazy. Currently, foreigners from nearby countries like Ghana, Benin Republic and Togo now carry out similar tasks like local artisans and enjoy the

patronage of Nigerians. Today, industry trends are evolving as consumers continue to demand for quality services. It has become imperative that any artisan that wants to make ends meet in this economy has to hone his skills and learn to adopt new technologies that will simplify his business and delight his customers. To boost the skills of artisans, some organisations have made it their corporate social responsibility to train and empower artisans. One of such is the OVH Energy Oleum Academy, which the organisation saw as an opportunity to bridge this skill gap for artisans, in this instance, mechanics. According to the Chief Executive Officer, OVH Energy Marketing Ltd, Huub Stokman, “the Oleum Academy was founded

in 2014 as a skills development initiative borne out of a commitment to raise the automotive maintenance standard in Nigeria. It offers automotive-mechatronics, lubrication and entrepreneurship trainings for mechanics and autotechnicians nationwide. “The mission of Oleum Academy is to contribute to the closure of knowledge gap by 80 per cent and ensure that Nigerians have access to professional and technically sound automotive support, with the overarching vision of training 5,000 auto-mechanics in Nigeria by 2020.� Stokman said the initiative is remarkable because it addresses a common problem in Nigeria, of ill-qualified automobile experts also known as mechanics, giving uninformed and inaccurate diagnosis of automobile complications; or diagnosing vehicles

as suffering great malfunctions which require bank breaking repair costs. “Nigerian mechanics need to imbibe the consciousness of car care as many Nigerians have suffered a great disservice by way of damage to automobiles. “The Oleum Academy is bridging the skills gap in the automotive industry through adequate training. A wellmaintained or serviced vehicle can have an overall impact on human life. There is a strong possibility that a vehicle that has been misdiagnosed or badly repaired will result in an accident, leading to loss of property or life.� According to the National Bureau of Statistic (NBS), no fewer than 2,598 Nigerians died in road accidents between October 2017 and March 2018. Through training of mechanics, OVH aims to reduce the number of auto crashes

and consequently the number of casualties arising from it. This platform provides participants with the necessary information on automobile and machinery repairs, as well as providing the necessary tools to properly diagnose and address faults. The Oleum Academy extends beyond grassroots training alone. With the level of training provided for participants, a graduate of the programme is equipped to handle repairs and machinery servicing. In addition, graduates receive award certificates accredited by the National Open University of Nigeria (NOUN). Most importantly, the Oleum Academy alumni receive auto-diagnostic starter packs, and other work tools to support their trade practice. The over 1,000 graduates of the academy are also better equipped to carry out their tasks and as a

result, enjoy better patronage and earn more money. The long-term impact is not just improved skills set of the trainees, but also an indirect pay off for the Nigerian economy in terms of diversifying and encouraging other streams of income. In November 2015, President Muhammadu Buhari asked the Federal Ministries of Works and Lands, Housing and Urban Development to prepare a plan of action for the speedy revitalisation and expansion of the country’s vocational training centres. This indicates that there is a need to upscale the skills of artisans. Since the government cannot do this alone, it behooves on private individuals and corporate organisations to take up the challenge and empower artisans, thus contributing to the growth of the economy.

34

T H I S D AY Ëž ÍŻÍľËœ Í°ÍŽÍŻÍś

Maltina Teacher of theYear: My Stature Didn’t Discourage Me Uchechukwu Nnaike Despite being denied a job once because the head teacher felt he won’t be able to handle students

with his small frame, coupled with the disrespectful attitude of some students, one of whom had challenged him to a fight; Mr. Olasunkanmi Opeifa was

Pupils of Pampers Private School Win MAN Maths Olympiad Two pupils of Pampers Private School, Lekki, Lagos, David Awe and Joshua Nwobodo have emerged winners of the Mathematics Association of Nigeria (MAN) Mathematics Olympiad 2018. The national championship, which held on July 27 and 28 at the National Mathematical Centre, Abuja hosted 35 states with two representatives from each state. Awe and Nwobodo, who represented Lagos State, displayed exceptional intelligence and self-confidence from being regional champions to winning the national championship. Other finalists included representatives from Rivers and Cross River State. Expressing his gratitude, Nwobodo thanked the organisers for giving him such an opportunity. “I want to say thank you to MAN for this wonderful platform

through which young children like me and David get to put into practice our mathematical skills. This competition was also a test of our confidence and endurance. Most especially, I will like to thank the academic body at Pampers for instilling in me the importance of hard work and determination in achieving excellence.� The Head Teacher and Head of the Mathematics Department, Mr. Ojimmy Iyakakwa, who commended the two pupils for their feat said: “We are so proud of the success of David and Joshua representing Pampers and Lagos State. At Pampers we believe in educating a total child not only in mathematics, but in all aspects of life. We are dedicated to establishing high standards of education and promoting a lifelong learning experience.�

not deterred, his passion for the teaching profession and the belief that he will one day become the richest teacher in the world were his driving force. This passion, hard work and determination were recently rewarded by Nigerian Breweries Plc, as he emerged the 2018 Maltina Teacher of the Year, an initiative of Nigerian BreweriesFelix Ohiwerei Education Trust Fund, aimed at recognising, celebrating and motivating teachers in the country. At a grand ceremony in Lagos recently to honour the outstanding teachers, Opeifa, who teaches English Language at the Government Day Secondary School, Karu, Abuja received N1 million in addition to N500,000 he got as the state champion

from Abuja. He will also get N1 million every year for the next five years, while a block of six classrooms will be built at his school. Also, Olalekan Adeeko, a Computer Studies teacher at Baptist Boys High School, Abeokuta, Ogun State emerged the first runner-up, while Mr. Samuel Temitope Popoola, a Physics teacher at Deeper Life High School, Akure, Ondo State was the second runner-up. Apart from the N500,000 reward as state champion, the first and second runners-up got an additional N1 million and N750,000 respectively. In total, the ceremony produced 26 state champions, each of them receiving N500,000. Opeifa, who was visibly elated,

said he had always wanted to be a teacher since he was in primary three and after studying his Social Studies textbook then, he used to teach his mates topics in the textbook. Also, he said his desire to become a teacher was further strengthened by the level of respect a female teacher he knew used to get back then. “We used to have a female teacher on my street and whenever she was returning home, parents would send their children to help her carry her bags. I admired her because of the respect she commands and I resolved to be like her someday. “Teaching is so interesting to me, regardless of teachers’ low financial status, I was still

passionate about the profession and I believed that I will one day be the richest teacher in the world; the opportunity is there,� he said. Asked what his challenges on the job are, the 32-year-old said one of his greatest challenges has to do with his stature. “I remember my interview with one of the secondary schools in Lagos, after doing well, the head teacher asked how I will handle students with my stature and I said ‘is it a boxing ring, I am not going there to fight; a man with knowledge is a man with authority, once I dish out my knowledge, I have the power in the classroom’. because of that I didn’t take the job, I went to another school and the same year, I got a job in the FCT.

Foundation Counsels Students on Dangers of Premarital Sex, Drug Abuse In an effort to improve the quality of lives of Nigerian students, the Daniel Ogechi Akujobi Memorial Foundation (DOAM) recently held the 2018 edition of the Leadership Education Aspiration and Development (LEAD) programme for over 900 students of United Christian Senior and Junior Secondary School, Apapa, Lagos. The foundation is a humanitarian and non-governmental organisation focused on providing education and health care support for the less privileged in the society. Speaking at the event, the Programme Officer (Education), Adaeze Anyanna, said the main aim of the DOAMF LEAD programme is to help

students bring out unharnessed potential within them so that they can become world-class leaders of tomorrow; and through the mentoring and counselling sessions improve the self-worth/esteem of public school students. She described children as the future of any nation, saying that everything possible should be done to ensure that they are protected from the negative influence of social media, internet, drug abuse and teenage/premarital sex. “The need to encourage students in public secondary schools to continuously aspire towards becoming better and responsible citizens is imperative for the preparation of future leaders.�

Petroleum Varsity Calls for Implementation of Establishing Act Kuni Tyessi in Abuja The Federal University of Petroleum Resources, Effurun, Delta State has called for the implementation of the act establishing the institution after its passage by President Muhammadu Buhari. This is also in appreciation to the National Universities Commission (NUC) for approving the commencement of postgraduate studies in natural sciences and in some aspects of engineering, though some courses, with reference to information technology still suffered some setbacks as a result of procrastination regarding their approval by the regulatory agency. The Pro-Chancellor and Chairman, Governing Board of the institution, Professor Shehu Zuru, who made this known in Abuja, revealed that

despite the feats so far, the non-implementation of the act has continued to slow the pace of development within the university environment. While stating that the number of students which is only over 4,000 is inconsequential in the face of the internally generated revenue which already the institution has keyed into, he said the non-implementation of the act is still a serious hitch and should be considered. Zuru said the institution which has qualified academic personnel, operates strictly under the Joint Admissions and Matriculation Board, (JAMB) ethics and has students, mostly from the south-south applying for admission, even though accommodation and other infrastructural inadequacies have continued to plague the ivory tower.

From Left: The second runner-up, Samuel Popoola; 2018 Maltina Teacher of the Year, Olasunkanmi Opeifa; and the ďŹ rst runner-up, Olalekan Adeeko, at the grand ďŹ nale of the 2018 Maltina Teacher of the Year award in Lagos‌ recently

ITF, NECA Train 30 Youths in Kogi Yekini Jimoh in Lokoja A total of 30 youths in Kogi State have benefitted from the one year skills acquisition training programme, organised by the Industrial Training Fund (ITF), in collaboration with Nigeria Employers’ Consultative Association (NECA). Speaking during the graduation/induction of new trainees at the ITF Training Centre, Lokoja, the Director General, Sir Joseph Ari said the training of the youths in skills acquisition was part of the federal government’s policy of job/wealth creation in order to reduce poverty and youth restiveness in the country. “It is our collective resolve to actualise this mandate that we are witnessing this giant stride in equipping Nigerians with the required skills for employability and entrepreneurship. This phase of the programme trained 30 trainees in two trades-Welding and Fabrication and Electrical Installation and Maintenance for a period of one year.� Ari, who was represented by the Director of Research and Curriculum Development Department of the agency, Mr. Zachariah Piwuna, emphasised that tackling unemployment through skills acquisition cannot and should not be viewed

as the responsibility of the ITF and other agencies of the federal government alone. He therefore solicited the cooperation and collaboration of all state governments, organised private sector, politicians and other stakeholders to equip young Nigerians with skills for absorption by employers of labour in public and private sectors of the economy. In his remarks, the Training Manager of ITF Lokoja, Mallam Ibrahim Umar stressed that the only way government at all levels can tackle the issues of poverty and youth restiveness is through massive investment in youth empowerment through skills acquisition. He said the skills acquisition training is free, adding that the trainees are provided with free uniforms, books, practical learning materials, in addition to lunch and monthly stipend of N10,000 to make their learning conducive. While urging the beneficiaries to utilise the skills and knowledge acquired in the development of the country, Umar called on the Kogi State government, its MDAs and parastatals, as well as private companies in the state to patronise the training programmes of ITF for the purpose of skills broadening and upgrading of staff for improved performance and productivity.

CGE, NANS Partner against Sexual Harassment of Female Students The Centre for Gender Economics (CGE Africa), in partnership with the National Association of Nigerian Students (NANS) recently held a one-day capacity building workshop for NANS officials in the south-west region. The one-day workshop, held in Ibadan among other things, kick started the CGE Africa ‘Stretched Project’ funded by Urgent Action Fund Africa. Participants were drawn from higher institutions in Lagos, Oyo, Ondo, Ekiti, Osun and Ogun States. According to the Executive Director of CGE, Uchenna Idoko, the event was convened in the light of concerns about the increasing incidence of sexual harassment in Nigerian universities. Explaining the consequences of the act, Idoko said: “Sexual harassment has become so repugnant to the bodily integrity and mental health of female students and the manners of impunity on the part of some university authorities in handling the unholy acts. CGE Africa and NANS took an alternative action of building the capacity of student union and NANS officials to arrest this menace.� While stating that the event received support from FIDA Oyo Chairperson, Idoko said some of the recommendations at the event, included the need to increase sensitisation and awareness on sexual violence institutionally among students

in Nigeria higher institutions; the need for the government of Nigeria to invoke state obligation to prosecute perpetrators of sexual violence as stated in Articles 2 and 3 of CEDAW, VAPP Act and State Laws. Other recommendation was the need to allocate more funds to the prevention and punishment of sexual violence by the government and the institutions, adding that such would address the silence of unwanted sexual experiences and help move campuses towards an adequate response. “Violence against victims which is referred to as ‘victim blaming’ should be prevented and dealt with by proposed support mechanisms that will be put in place on campuses by NANS and key stakeholders. “This intervention provides student leaders with information on the first actions to take if a student is sexually harassed by lecturers and will also give NANS access to information on confidential national sexual assault hotlines, online resources and centres they can reach out to for both legal and psycho-social support for female students once the need arises.� The event also afforded participants an opportunity to reflect on the effects of sexual harassment on the mental wellbeing of victims, their families and university community at large.

T H I S D AY Ëž ÍŻÍľËœ Í°ÍŽÍŻÍś

35

Expert Calls for Employers’ Input in Developing Curriculum Alex Enumah in Abuja A development expert, Tope Toogun has insisted that the contribution of employers of labour is essential if the country’s educational curriculum must be fashioned to meet the demands of contemporary times and tackle the issue of graduate unemployment. Toogun, who was guest speaker at the launch of the book, ‘The School Guide’, regretted that the current system of education in Nigeria prepares graduates for the past rather than the future. “Our educational system is still preparing graduates for the industrial system of work when society is now thinking of how to do things differently. Ten years ago, we

did not see where the jobs will come from, so we could not prepare adequately.� To remedy the situation, he said the government and all stakeholders in the education sector should come to a round table, appraise the management of the education system in the country with a view of making it more relevant to contemporary times. “We have to go back and look at the system of management of our education to see if it is one that would do this transformation, it is then we can focus on the system itself and look at resources. Currently we make the mistake of thinking it is a question of resources, but the real question is where are we putting that resources.

He added: “We have to moderate conversation between those who are employing labour because they are the ones who know the skills they are looking for and they keep complaining that they don’t have access to those skills. The people who are producing the skills have to sit in the same room with those who demand the skills so that there can be an understanding and we can use that to transform the curriculum to make it more responsive to what society is looking for. He said until the country’s higher institutions adapt to their immediate environment, they will go into extinction, adding that, “to adapt, we must bring what operates in the corporate sector into

education.� He stressed that the change needed in the education sector would be best driven by private schools and urged them to make good use of the book in positioning themselves for such leadership. The author of the book, Angela Ajala, said she was motivated to write the book to address the issue of standards and poor regulations in the education sector. “Education has become an all comers affair, everybody wakes up and opens a school and nobody is stopping them, so we feel if you are going to start a school, you must do it well and this book provides the guidelines and foundations that would enable you run a school effectively.�

L-R: The Chairman, Obafemi Awolowo University Muslim Graduates’ Association (UNIFEMGA), Ilorin Chapter, Alhaji Kamil Olalekan; Managing Director, CRC Credit Bureau, Alhaji Tunde Popoola; the celebrant, Prof. Abdulwahab Egbewole (SAN); Alhaja Yinka Ayanwale; and the National President, UNIFEMGA, Alhaji Abdulwaheed Odeyimka, at the luncheon and public lecture, organised by UNIFEMGA in honour of Egbewole on his recent elevation to Senior Advocate of Nigeria (SAN), in Lagos‌ recently PHOTO: ETOP UKUTT

IS YOUR STYLE CORPORAL PUNISHMENT OR CHILD DISCIPLINE? Ă?Ăž Ă&#x;Ă? ĂŽĂ™ Ă‹ Ă›Ă&#x;Ă“Ă?Ă• ĂœĂ?Ă?Ă‹Ăš Ă˜Ă?Ă?ĂŽĂ?Ă&#x;Ă– Ă?Ă™Ăœ Ă—ĂŁ ĂžĂ’ĂœĂ&#x;Ă?Ăž ÞÒÓĂ? ĂĄĂ?Ă?Ă•Ë› Ă˜ ÍŻÍ´ËšÍŻËšÍŻÍłËœ Ă‹ Ă˜Ă“ĂžĂ?ĂŽ Ă‹ĂžĂ“Ă™Ă˜Ă? ÚÙÕĂ?Ă?Ă—Ă‹Ă˜ Ă?Ă˘ĂšĂœĂ?Ă?Ă?Ă?ĂŽ Ă?Ă™Ă˜Ă?Ă?ĂœĂ˜Ă? ÞÒËÞ Ă?Ă’Ă“Ă–ĂŽĂœĂ?Ă˜ Ă“Ă˜ ÞÒĂ? Ă˜Ă™ĂœĂžĂ’Ă?Ă‹Ă?ĂžĂ?ĂœĂ˜ ĂšĂ‹ĂœĂžĂ? Ă™Ă? Ă“Ă‘Ă?ĂœĂ“Ă‹ Ă‹ĂœĂ? Ă“Ă˜ ĂŽĂ?Ă?ĂšĂ?ĂœĂ‹ĂžĂ? Ă˜Ă?Ă?ĂŽ Ă?Ă™Ăœ ĂšĂœĂ™ĂžĂ?Ă?ĂžĂ“Ă™Ă˜ Ă?ĂœĂ™Ă— Ă?Ă™Ă˜ĂžĂ“Ă˜Ă&#x;Ă“Ă˜Ă‘Ëœ ĂœĂ?Ă–Ă?Ă˜ĂžĂ–Ă?Ă?Ă? à ÓÙÖĂ?Ă˜Ă?Ă?Ë› Ă˜ ÞÒĂ? ͎ͯÞÒ Ă™Ă? Ă‹Ă˜Ă&#x;Ă‹ĂœĂŁËœ Ă‹ ÍŻÍŽĚ‹ĂŁĂ?Ă‹ĂœĚ‹Ă™Ă–ĂŽ Ă‘Ă“ĂœĂ– Ă“Ă˜ Ă™ĂœĂ˜Ă™ Ă?Ă‹ĂœĂ? ÙÕÙ Ă‹ĂœĂ‹Ă—Ëœ ĂŽĂ?ĂžĂ™Ă˜Ă‹ĂžĂ?ĂŽ Ă‹ ĂŒĂ™Ă—ĂŒ ĂĄĂ’Ă“Ă?Ă’ Ă•Ă“Ă–Ă–Ă?ĂŽ Ă‹Ăž Ă–Ă?Ă‹Ă?Ăž Í°ÍŽ ĂšĂ?ÙÚÖĂ?Ë› Ă?âĂ&#x;Ă‹Ă– à ÓÙÖĂ?Ă˜Ă?Ă? Ă‹Ă‘Ă‹Ă“Ă˜Ă?Ăž Ă‘Ă“ĂœĂ–Ă?Ëœ Ă?Ă™ĂœĂ?Ă?ĂŽ Ă—Ă‹ĂœĂœĂ“Ă‹Ă‘Ă?Ă? Ă‹Ă˜ĂŽ ĂœĂ‹ĂšĂ?Ă?Ëœ Ă‘ĂœĂ™ĂĄĂ“Ă˜Ă‘ ĂœĂ?Ă?ĂœĂ&#x;ÓÞ̋ Ă—Ă?Ă˜Ăž Ă™Ă? Ă?Ă’Ă“Ă–ĂŽĂœĂ?Ă˜Ëœ Ă?Ă™Ă&#x;Ă˜ĂžĂ–Ă?Ă?Ă? Ă‹ĂŒĂŽĂ&#x;Ă?ĂžĂ“Ă™Ă˜Ă? Ă‹Ă˜ĂŽ ËʾËĂ?Ă•Ă? Ă™Ă˜ Ă?Ă?ÒÙÙÖĂ? Ă’Ă‹Ă Ă? ĂŒĂ?Ă?Ă˜ Ă“ĂŽĂ?Ă˜ĂžĂ“Ę¨Ă?ĂŽ Ă“Ă˜ ÞÒĂ? Ă‹ĂœĂ?Ă‹ ĂŒĂŁ Ă?Ă“Ă–Ă‹ Ă?ĂœĂœĂ&#x;Ă‘Ă‹Ă– Ă™Ă? ÞÒĂ? Ëœ ĂĄĂ’Ă™ Ă Ă“Ă?Ă“ĂžĂ?ĂŽ Ă“Ă‘Ă?ĂœĂ“Ă‹ ÞÙ assess the conict’s impact on children. Ă™ Ă—Ă&#x;Ă?Ă’ Ă?Ă™Ăœ ÞÒĂ? ĂžĂ?ĂœĂœĂ™ĂœĂ“Ă?Ăž ËʾËĂ?Ă•Ă? Ă&#x;Ăš Ă˜Ă™ĂœĂžĂ’Ë› Ùå Ă‹ĂŒĂ™Ă&#x;Ăž ĂŽĂ™ĂĄĂ˜ Ă?Ă™Ă&#x;ÞÒˣ Ùå Ă—Ă&#x;Ă?Ă’ ĂšĂœĂ™ĂžĂ?Ă?ĂžĂ“Ă™Ă˜ ĂŽĂ™Ă?Ă? ÞÒĂ? ËŠĂ?Ă™Ă—Ă—Ă™Ă˜ËŞ Ă“Ă‘Ă?ĂœĂ“Ă‹Ă˜ Ă?Ă’Ă“Ă–ĂŽ Ă’Ă‹Ă Ă? Ă?ĂœĂ™Ă— Ă Ă‹ĂœĂ“Ă™Ă&#x;Ă? Ă?Ă™ĂœĂ—Ă? Ă™Ă? Ă?Ă&#x;ĂŒĂžĂ–Ă? Ă Ă“Ă™Ă–Ă‹ĂžĂ“Ă™Ă˜Ă?ËŁ Ă’Ă“Ă–ĂŽĂœĂ?Ă˜ Ă’Ă‹ĂĄĂ• Ă‹Ă˜ĂŽ ĂĄĂ™ĂœĂ• Ă‹Ă? Ă’Ă™Ă&#x;Ă?Ă?Ě‹Ă’Ă?Ă–ĂšĂ? ÞÙ ĂŒĂœĂ“Ă˜Ă‘ Ă—Ă™Ă˜Ă?ĂŁ Ă“Ă˜ĂžĂ™ ÞÒĂ? Ă?Ă‹Ă—Ă“Ă–ĂŁËœ Ă?Ă’Ă“Ă–ĂŽĂœĂ?Ă˜ Ă‹ĂœĂ? Ă&#x;Ă?Ă?ĂŽ Ă‹Ă? Ă?Ă‹ĂœĂ?ĂœĂ? Ă?Ă™Ăœ Ă‹Ă‘Ă?Ă“Ă˜Ă‘ ĂœĂ?ÖËÞÓà Ă?Ă? Ă‹Ă˜ĂŽ ÞÒĂ?Ă“Ăœ ĂŁĂ™Ă&#x;Ă˜Ă‘Ă?Ăœ Ă?Ă“ĂŒĂ–Ă“Ă˜Ă‘Ă?Ëœ Ă?Ă’Ă“Ă–ĂŽĂœĂ?Ă˜ Ă‹ĂœĂ? Ă?Ă?Ă˜Ăž Ă‹Ă–Ă™Ă˜Ă? Ă™Ă˜ Ă?ĂœĂœĂ‹Ă˜ĂŽĂ? Ă?Ù×Ă?ÞÓ×Ă?Ă? ÞÙ Ă?Ă‹Ăœ Ă‹ĂĄĂ‹ĂŁ ÚÖËĂ?Ă?Ă? ĂĄĂ’Ă?ĂœĂ? ÞÒĂ?ĂŁ Ă’Ă‹Ă Ă? ÞÙ ĂĄĂ‹Ă–Ă• Ă?Ă™Ăœ Ă—Ă“Ă–Ă?Ă?Ë› Ă˜ ÞÒĂ? ĂĄĂ‹ĂŁËœ Ă‘Ă“ĂœĂ–Ă? Ă“Ă˜ ĂšĂ‹ĂœĂžĂ“Ă?Ă&#x;Ă–Ă‹Ăœ Ă?Ă&#x;ĘĽĂ?Ăœ Ă?Ă?âĂ&#x;Ă‹Ă– Ă’Ă‹ĂœĂ‹Ă?Ă?Ă—Ă?Ă˜ĂžĂ? Ă“Ă˜ ÞÒĂ? Ă?Ă™ĂœĂ— Ă™Ă? ĂšĂ™Ă•Ă“Ă˜Ă‘ Ă‹Ă˜ĂŽ Ă Ă?ĂœĂŒĂ‹Ă– Ă?Ă?âĂ&#x;Ă‹Ă– Ă‹Ă?Ă?Ă‹Ă&#x;Ă–ĂžĂ? ĂŒĂŁ ĂšĂ?ÎÙÚÒÓÖÓËĂ? ËŠĂ–Ă‹ĂŁĚ‹Ă‹ĂŒĂ™Ă&#x;ĂžĂ?ËŞ Ă™Ă˜ ÞÒĂ? Ă?ĂžĂœĂ?Ă?ĂžĂ?Ë› Ă’Ă“Ă–ĂŽ Ă–Ă‹ĂŒĂ™Ă&#x;Ăœ Ă“Ă? Ă?Ă™Ă—Ă—Ă™Ă˜ ÚÖËĂ?Ă? Ă‹Ă˜ĂŽ Ă?Ă?Ă?Ă—Ă“Ă˜Ă‘Ă–ĂŁ Ă‹Ă?Ă?Ă?ĂšĂžĂ‹ĂŒĂ–Ă?Ë› Ă’Ă“Ă–ĂŽ Ă‹ĂŒĂ&#x;Ă?Ă? Ă“Ă? Ă’Ă?Ă‹Ă Ă“Ă–ĂŁ Ă‹Ă—Ă™Ă˜Ă‘ Ă&#x;Ă?Ë› ĂœĂ?Ă Ă?Ă˜ĂžĂ“Ă˜Ă‘ Ă‹Ă–Ă– Ă?Ă™ĂœĂ—Ă? Ă™Ă? Ă“Ăž Ă“Ă? Ă?ÞÓÖÖ Ă˜Ă™Ăž Ă?Ă™Ă˜Ă?Ă“ĂŽĂ?ĂœĂ?ĂŽ Ă‹ Ă’Ă“Ă‘Ă’ ĂšĂœĂ“Ă™ĂœĂ“ĂžĂŁË› Ă’Ă“Ă–ĂŽ Ă‹ĂŒĂ&#x;Ă?Ă? Ă?Ă‹Ă–Ă–Ă? Ă“Ă˜ĂžĂ™ Ă?Ă™Ă&#x;Ăœ Ă?Ă‹ĂžĂ?Ă‘Ă™ĂœĂ“Ă?Ă? Ă˜Ă‹Ă—Ă?Ă–ĂŁË? Ă˜Ă?Ă‘Ă–Ă?Ă?ĂžËœ ÚÒãĂ?Ă“Ă?Ă‹Ă– Ă‹ĂŒĂ&#x;Ă?Ă?Ëœ ĂšĂ?ĂŁĂ?ÒÙÖÙÑÓĂ?Ă‹Ă– Ă™Ăœ Ă?Ă—Ă™ĂžĂ“Ă™Ă˜ Ă‹ĂŒĂ&#x;Ă?Ă? Ă‹Ă˜ĂŽ Ă?Ă?âĂ&#x;Ă‹Ă– Ă‹ĂŒĂ&#x;Ă?Ă?Ë› Ă’ĂŁĂ?Ă“Ă?Ă‹Ă– Ă‹ĂŒĂ&#x;Ă?Ă? Ă™Ă? Ă?Ă’Ă“Ă–ĂŽĂœĂ?Ă˜ Ă“Ă? Ă‹Ă–Ă– Ă‹ĂœĂ™Ă&#x;Ă˜ĂŽ ĂŁĂ™Ă&#x;Ë› Ă‹Ă˜ĂŁ ĂšĂ‹ĂœĂ?Ă˜ĂžĂ? Ă‹Ă˜ĂŽ ĂžĂ?Ă‹Ă?Ă’Ă?ĂœĂ? ĂšĂ?ĂœĂ?Ă“Ă?Ăž Ă“Ă˜ ĂŽĂ?Ă–Ă“ĂŒĂ?ĂœĂ‹ĂžĂ?Ă–ĂŁ Ă“Ă˜ĘŽĂ“Ă?ĂžĂ“Ă˜Ă‘ Ă?Ă?ĂœĂ“Ă™Ă&#x;Ă? ÚÒãĂ?Ă“Ă?Ă‹Ă– Ă“Ă˜Ă”Ă&#x;ĂœĂ“Ă?Ă? Ă™Ă˜ Ă?Ă’Ă“Ă–ĂŽĂœĂ?Ă˜Ë› Þ˪Ă? Ă?Ă‹Ă?ĂŁ ÞÙ Ę¨Ă˜ĂŽ Ă?Ă’Ă“Ă–ĂŽĂœĂ?Ă˜ åÓÞÒ ĂŒĂœĂ&#x;Ă“Ă?Ă?Ă?Ëœ Ă?Ă?ĂœĂ‹ĂžĂ?Ă’Ă?Ă?Ëœ ĂŒĂ&#x;ĂœĂ˜Ă?Ëœ Ă–Ă‹Ă?Ă?ĂœĂ‹ĂžĂ“Ă™Ă˜Ă?Ëœ ĂŒĂœĂ™Ă•Ă?Ă˜ ĂŒĂ™Ă˜Ă?Ă? Ă‹Ă˜ĂŽ ĂœĂ?ĂšĂ?Ă‹ĂžĂ?ĂŽ Ă&#x;Ă˜Ă?Ă˘ĂšĂ–Ă‹Ă“Ă˜Ă?ĂŽ Ă—Ă“Ă?Ă’Ă‹ĂšĂ?Ë› Ă? Ă™Ă? Ă‹Ă˜Ă&#x;Ă‹ĂœĂŁ Í°ÍŽÍŻÍłËœ Ă™ĂœĂšĂ™ĂœĂ‹Ă– ĂšĂ&#x;Ă˜Ă“Ă?Ă’Ă—Ă?Ă˜Ăž Ă™Ă? Ă?Ă’Ă“Ă–ĂŽĂœĂ?Ă˜ ĂŒĂŁ ĂšĂ‹ĂœĂ?Ă˜ĂžĂ? Ě™Ă™Ăœ ÙÞÒĂ?Ăœ Ă‹ĂŽĂ&#x;Ă–ĂžĂ?Ěš Ă“Ă? ĂŒĂ‹Ă˜Ă˜Ă?ĂŽ Ă“Ă˜ ͲͲ Ă?Ă™Ă&#x;Ă˜ĂžĂœĂ“Ă?Ă?Ë› Ă“Ă‘Ă?ĂœĂ“Ă‹ Ă“Ă? Ă˜Ă™Ăž Ă–Ă“Ă?ĂžĂ?ĂŽ Ă‹Ă—Ă™Ă˜Ă‘ ÞÒĂ?Ă?Ă? Ă?Ă™Ă&#x;Ă˜ĂžĂœĂ“Ă?Ă?Ë› Ă™ĂœĂšĂ™ĂœĂ‹Ă– ĂšĂ&#x;Ă˜Ă“Ă?Ă’Ă—Ă?Ă˜Ăž Ă“Ă? ˍÞÒĂ? ĂŽĂ?Ă–Ă“ĂŒĂ?ĂœĂ‹ĂžĂ? Ă“Ă˜ĘŽĂ“Ă?ĂžĂ“Ă™Ă˜ Ă™Ă? ĂšĂ‹Ă“Ă˜ Ă‹Ă? ĂœĂ?ĂžĂœĂ“ĂŒĂ&#x;ĂžĂ“Ă™Ă˜ Ă?Ă™Ăœ Ă‹Ă˜ ÙʼĂ?Ă˜Ă?Ă? Ă™Ăœ ÞÙ ĂŽĂ“Ă?Ă?Ă“ĂšĂ–Ă“Ă˜Ă? Ă™Ăœ ĂœĂ?Ă?Ă™ĂœĂ— Ă‹ ĂĄĂœĂ™Ă˜Ă‘ĂŽĂ™Ă?ĂœËœ Ă™Ăœ ÞÙ ĂŽĂ?ĂžĂ?Ăœ ËʾÓÞĂ&#x;ĂŽĂ?Ă? Ă™Ăœ ĂŒĂ?Ă’Ă‹Ă Ă“Ă™Ă&#x;Ăœ ĂŽĂ?Ă?Ă—Ă?ĂŽ Ă&#x;Ă˜Ă‹Ă?Ă?Ă?ĂšĂžĂ‹ĂŒĂ–Ă?ËŹË› Ă’Ă? ĂžĂ?ĂœĂ— Ă?Ă™Ă˜Ă˜Ă™ĂžĂ?Ă? Ă?ĂžĂœĂ“Ă•Ă“Ă˜Ă‘Ëœ Ă?ĂšĂ‹Ă˜Ă•Ă“Ă˜Ă‘ Ă™Ăœ Ă?Ă–Ă‹ĂšĂšĂ“Ă˜Ă‘ ÞÒĂ? ĂĄĂœĂ™Ă˜Ă‘ĂŽĂ™Ă?Ăœ åÓÞÒ ÞÒĂ? Ă’Ă‹Ă˜ĂŽËœ Ă™Ăœ Ă&#x;Ă?Ă“Ă˜Ă‘ Ă‹Ă˜ Ó×ÚÖĂ?Ă—Ă?Ă˜Ăž Ă?Ă&#x;Ă?Ă’ Ă‹Ă? Ă‹ ĂŒĂ?Ă–ĂžËœ Ă‹ Ă?ÖÓÚÚĂ?ĂœËœ Ă?Ă‹Ă˜Ă? Ă™Ăœ Ă?ÞÓĂ?Ă•Ë› Ëş Ă“Ă‘Ă?ĂœĂ“Ă‹ Ă’Ă‹Ă? Ă˜Ă™Ăž ĂšĂœĂ™Ă’Ă“ĂŒĂ“ĂžĂ?ĂŽ ÞÒĂ? Ă&#x;Ă?Ă? Ă™Ă? Ă?Ă™ĂœĂšĂ™ĂœĂ‹Ă– ĂšĂ&#x;Ă˜Ă“Ă?Ă’Ă—Ă?Ă˜Ăž Ă“Ă˜ ÞÒĂ? ÒÙ×Ă?Ëœ ĂŽĂ‹ĂŁ Ă?Ă‹ĂœĂ?Ëœ Ă‹Ă–ĂžĂ?ĂœĂ˜Ă‹ĂžĂ“Ă Ă? Ă?Ă‹ĂœĂ? Ă?Ă?ĘľĂ“Ă˜Ă‘Ă?Ëœ Ă?Ă?ÒÙÙÖĂ?Ëœ ĂšĂ?Ă˜Ă‹Ă– Ă“Ă˜Ă?ÞÓÞĂ&#x;ĂžĂ“Ă™Ă˜Ă? Ă‹Ă˜ĂŽ Ă‹Ă? Ă‹ Ă?Ă?Ă˜ĂžĂ?Ă˜Ă?Ă? Ă?Ă™Ăœ Ă?ĂœĂ“Ă—Ă?Ë› Ă–Ă?Ă‹Ă?Ă? ĂœĂ?Ă?Ă?Ăœ ÞÙ Ă‹Ă˜ Ă™Ă˜Ă–Ă“Ă˜Ă? Ă‹ĂœĂžĂ“Ă?Ă–Ă? ÞÓÞÖĂ?ĂŽË? ËŠ Ă“Ă‘Ă?ĂœĂ“Ă‹ Ě‹ Ă–Ă™ĂŒĂ‹Ă– Ă˜Ă“ĂžĂ“Ă‹ĂžĂ“Ă Ă? ÞÙ Ă˜ĂŽ Ă‹Ă–Ă– Ă™ĂœĂšĂ™ĂœĂ‹Ă– Ă&#x;Ă˜Ă“Ă?Ă’Ă—Ă?Ă˜Ăž Ă?Ă™Ăœ Ă’Ă“Ă–ĂŽĂœĂ?Ă˜ËŞË› Ăž Ă“Ă? Ă•Ă˜Ă™ĂĄĂ˜ ÞÒËÞ Ă—Ă?ÞÒÙÎĂ? Ă™Ă? Ă?Ă’Ă“Ă–ĂŽ ĂŽĂ“Ă?Ă?Ă“ĂšĂ–Ă“Ă˜Ă? Ă Ă‹ĂœĂŁ ĂĄĂ“ĂŽĂ?Ă–ĂŁË› Ă? Ă‹Ă–Ă?Ă™ Ă•Ă˜Ă™ĂĄ ÞÒËÞ ËÖÞÒÙĂ&#x;Ă‘Ă’ Ă Ă‹Ă–Ă&#x;Ă?Ă?Ëœ ĂŒĂ?Ă–Ă“Ă?Ă?Ă?Ëœ Ă?Ă&#x;Ă?ÞÙ×Ă? Ă‹Ă˜ĂŽ Ă?Ă&#x;Ă–ĂžĂ&#x;ĂœĂ‹Ă– Ă—Ă?ÞÒÙÎĂ? Ă™Ă? Ă?Ă’Ă“Ă–ĂŽ ĂŽĂ“Ă?Ă?Ă“ĂšĂ–Ă“Ă˜Ă? Ă Ă‹ĂœĂŁ ĂĄĂ“ĂŽĂ?Ă–ĂŁËœ ĂšĂ‹ĂœĂ?Ă˜ĂžĂ? Ă‹Ă˜ĂŽ ĂžĂ?Ă‹Ă?Ă’Ă?ĂœĂ? Ă‘Ă?Ă˜Ă&#x;Ă“Ă˜Ă?Ă–ĂŁ ĂĄĂ‹Ă˜Ăž ÞÙ ĂœĂ‹Ă“Ă?Ă? Ă?Ă’Ă“Ă–ĂŽĂœĂ?Ă˜ ĂĄĂ’Ă™ Ă“Ă˜ĂžĂ?ĂœĂ˜Ă‹Ă–Ă“Ă?Ă? ÞÒĂ?Ă“Ăœ Ă‘Ă&#x;Ă“ĂŽĂ‹Ă˜Ă?Ă? Ă?Ă™ ÞÒËÞ ÞÒĂ?ĂŁËŞĂŽ ĂŒĂ?Ă?Ù×Ă? Ă?Ă?Ă–Ă?Ě‹ĂŽĂ“Ă?Ă?Ă“ĂšĂ–Ă“Ă˜Ă?ĂŽË› Ă™Ă?Ăž ĂšĂ‹ĂœĂ?Ă˜ĂžĂ? Ă‹Ă˜ĂŽ ĂžĂ?Ă‹Ă?Ă’Ă?ĂœĂ? ĂĄĂ‹Ă˜Ăž ÞÙ ÚËĂ?Ă? Ă™Ă˜ ĂšĂœĂ“Ă˜Ă?ÓÚÖĂ?Ă?Ëœ Ă‘Ă&#x;Ă“ĂŽĂ?Ă–Ă“Ă˜Ă?Ă? Ă‹Ă˜ĂŽ Ă?âÚĂ?Ă?ĂžĂ‹ĂžĂ“Ă™Ă˜Ă?Ë› Ă™Ă&#x; Ă’Ă™Ă˜Ă?Ă?ÞÖã ĂšĂ“Ă˜Ă? Ă?Ă™Ăœ ĂŁĂ™Ă&#x;Ăœ Ă?Ă’Ă“Ă–ĂŽĂœĂ?Ă˜ ÞÙ ĂŽĂ“Ă?ĂžĂ“Ă˜Ă‘Ă&#x;Ă“Ă?Ă’ ĂŒĂ?ÞåĂ?Ă?Ă˜ ĂœĂ“Ă‘Ă’Ăž Ă‹Ă˜ĂŽ ĂĄĂœĂ™Ă˜Ă‘Ë› Ă™Ă&#x; ĂĄĂ‹Ă˜Ăž ÞÙ ĂžĂ?Ă‹Ă?Ă’ ÞÒĂ?Ă— Ă?Ă?Ă–Ă?Ě‹Ă?Ă™Ă˜ĂžĂœĂ™Ă–Ëœ Ă“Ă˜Ă?ĂœĂ?Ă‹Ă?Ă? ÞÒĂ?Ă“Ăœ ĂŽĂ?Ă?Ă“ĂœĂ‹ĂŒĂ–Ă? ĂŒĂ?Ă’Ă‹Ă Ă“Ă™Ă&#x;Ăœ ĂĄĂ’Ă“Ă–Ă? ĂŽĂ?Ă?ĂœĂ?Ă‹Ă?Ă“Ă˜Ă‘ Ă&#x;Ă˜ĂŽĂ?Ă?Ă“ĂœĂ‹ĂŒĂ–Ă? ĂŒĂ?Ă’Ă‹Ă Ă“Ă™Ă&#x;ĂœË› Ă–Ă– ĂŁĂ™Ă&#x;Ăœ ĂŽĂ“Ă?Ă?Ă“ĂšĂ–Ă“Ă˜Ă“Ă˜Ă‘ Ă?ĂžĂœĂ‹ĂžĂ?Ă‘Ă“Ă?Ă? Ă‹ĂœĂ? Ă‹Ă“Ă—Ă?ĂŽ Ă‹Ăž Ă“Ă—ĂšĂ‹ĂœĂžĂ“Ă˜Ă‘ Ă‹ ĂšĂ‹ĂœĂžĂ“Ă?Ă&#x;Ă–Ă‹Ăœ Ă?ÙÎĂ? Ă™Ă? Ă?Ă™Ă˜ĂŽĂ&#x;Ă?Þ˛ Ă™Ă&#x; ĂĄĂ‹Ă˜Ăž ÞÙ ĂŽĂ?Ă Ă?ÖÙÚ Ă‹Ă˜ĂŽ Ă?Ă˜ĂžĂœĂ?Ă˜Ă?Ă’ ĂŽĂ?Ă?Ă“ĂœĂ‹ĂŒĂ–Ă? Ă?Ă™Ă?Ă“Ă‹Ă– Ă’Ă‹ĂŒĂ“ĂžĂ? ÞÙ Ă?Ă™Ă?ĂžĂ?Ăœ Ă“Ă˜ ÞÒĂ?Ă—Ëœ Ă?Ă™Ă&#x;Ă˜ĂŽ Ă”Ă&#x;ĂŽĂ‘Ă?Ă—Ă?Ă˜ĂžĂ? Ă‹Ă˜ĂŽ Ă—Ă™ĂœĂ‹Ă–Ă?Ë› Ă?Ă?Ă?Ă˜ĂžĂ“Ă‹Ă–Ă–ĂŁËœ Ă‹Ă–Ă– ĂŁĂ™Ă&#x; ĂĄĂ‹Ă˜Ăž Ă“Ă? Ă?Ă™Ăœ ĂŁĂ™Ă&#x;Ăœ Ă?Ă’Ă“Ă–ĂŽ ÞÙ ĂŽĂ?Ă Ă?ÖÙÚ Ă‹Ă˜ĂŽ Ă—Ă‹Ă“Ă˜ĂžĂ‹Ă“Ă˜ Ă?Ă?Ă–Ă?Ě‹ĂŽĂ“Ă?Ă?Ă“ĂšĂ–Ă“Ă˜Ă? ÞÙ Ă&#x;Ă?Ă? Ă?Ă™Ăœ ÞÒĂ? ĂœĂ?Ă?Ăž Ă™Ă? ÞÒĂ?Ă“Ăœ Ă–Ă“Ă Ă?Ă?Ë› Ă™Ă&#x; ÒÙåĂ?Ă Ă?Ăœ Ă?Ă‹Ă˜Ă˜Ă™Ăž Ă?Ă™Ă˜ĂžĂ“Ă˜Ă&#x;Ă? ÞÙ Ă“Ă—ĂšĂ‹ĂœĂž Ă•Ă˜Ă™ĂĄĂ–Ă?ĂŽĂ‘Ă? Ă‹Ă˜ĂŽ Ă?Ă•Ă“Ă–Ă– åÓÞÒ ÞÒĂ? Ă?Ă‹Ă˜Ă?Ë Ă™ ĂŁĂ™Ă&#x; ĂœĂ?Ă‹Ă–Ă“Ă?Ă? ÞÒËÞ ÞÒĂ? ĂĄĂ™ĂœĂŽ ĂŽĂ“Ă?Ă?Ă“ĂšĂ–Ă“Ă˜Ă? Ă—Ă?Ă‹Ă˜Ă? ÞÙ ĂžĂ?Ă‹Ă?Ă’Ëœ ÞÙ Ă“Ă—ĂšĂ‹ĂœĂž Ă•Ă˜Ă™ĂĄĂ–Ă?ĂŽĂ‘Ă? Ă‹Ă˜ĂŽ Ă?Ă•Ă“Ă–Ă–ËŁ Ă’Ă™Ă&#x;Ă–ĂŽ ÞÒĂ?Ă?Ă? Ă Ă“ĂœĂžĂ&#x;Ă?Ă? ĂŒĂ? Ă“Ă—ĂšĂ‹ĂœĂžĂ?ĂŽ Ă?Ă™ĂœĂ?Ă?Ă?Ă&#x;Ă–Ă–ĂŁËŁ. Mrs Kehinde Omoru writes from the UK

Greensprings Restates UNILAG Hosts 2018 Foundation Invests N17m for Commitment to Quality Education, Inter-collegiate Choral Festival Indigent Students’ Scholarship Launches Ikoyi Campus The University of Lagos Main Auditorium came alive recently with colourful musical performances essentially by five Nigerian university chorale groups. At the inter-collegiate choral festival tagged ‘Africa Sings 8’, the atmosphere was charged with excitement, as the choristers left no stone unturned in dazzling the audience with interesting songs. Organised by the Department of Creative Arts, the musical concert featured chorales from the host institution, University of Port Harcourt, University of Ibadan, Mountain Top University and Lagos State University. Also in attendance was the Heavenly String Orchestra which came prepared to add its quota in mesmerizing the participants comprising students from the various institutions, music lecturers and experts, stakeholders, lovers of classical music, among others. Now in its 8th year, the programme was held in honour of the General Overseer of the Mountain of Fire Ministries

(MFM), Dr. Daniel Olukoya for his sustained philanthropic gestures towards the growth of the Nigeria music industry. Addressing journalists, the Director of Programmes and senior lecturer in the Department of Creative Arts, Dr. Albert Oikelome assessed the impact of such performance on the music industry, saying that there has been a substantial percentage of successful musicians who are products of music schools across the country. “Such experience helps to grow the Nigerian music industry through the various lessons learnt. If you take a poll of pop musicians in the country today, you will realise that a very high percentage of them passed through the class. Some of them passed through the university, some have risen to become music directors, and surprisingly, those that are really holding the ace right now, quite a good number of them are managers of musicians and producers, who passed through reputable choirs in some churches.�

Hammed Shittu in Ilorin A non-governmental organisation based in Kwara State, Bayo and Bunmi Babalola Foundation has invested a total of N17 million towards the award of scholarship to over 813 indigent students in secondary and tertiary institutions in the state since 2015. The scholarship was aimed at contributing towards the educational advancement of the state and to prevent the youths from being agents of violence, prostitution and other crimes in the society. The founder of the foundation, Mr. Adebayo Babalola disclosed this disclosure in Omuaran in Irepodun Local Government Area of the state during the fourth edition of the scholarship scheme. “When the scholarship scheme started in 2015, 545 students comprising 194 in tertiary institutions and 351 students in secondary schools benefited from the scheme. “If we add the would-be beneficiaries for this 2018/2019

Uchechukwu Nnaike

session which is being granted today, the total is 813, made up of 291 students from tertiary institutions and 522 from secondary schools would have benefited from the scheme since the maiden edition in 2015. “The implication is that, this year’s edition 97 higher institution students and 171 secondary school students would be benefiting from the scheme this session.� Babalola said the foundation will be investing N5 million only directly to the beneficiaries while about N500,000 is spent on logistics. “With this, we have invested N17 million directly to the beneficiaries and about N2 million on logistics and advertisement since the scheme took off and the beneficiaries are mainly students in our local government area.� He said the investment was meant to boost the quality of education and make it accessible to indigent students who would have found it difficult to continue their studies and may be forced to drop out.

The management of Greensprings School, Lagos has launched its third campus in Ikoyi for preschool and elementary sections with a renewed commitment to providing quality education. Speaking at the launch reccently, the Executive Director of the school, Mrs. Lai Koiki said over the years, the school has ensured that the tradition of excellence is upheld. She described Greensprings as a child-centred school that is not stagnant. “The world around us is changing, everything is changing which means that the education too has to change because we are preparing the children for a world that we don’t even know and so we continue to upgrade our facilities and teachers so that they can fit into that world. We are the first thinking school in West Africa; there is a revolution in the world now that you need to challenge your thinking, you need to think about your thinking; for instance how do you think the way you do. It exercises your brain, so you see

things from different perspectives; since we don’t know what the future holds, then we need to prepare them widely and broadly so that by the time they get to that point, they will be able to operate in that future.� She assured parents that the school would continue to improve on the learning experience it gives to the children and as new innovations in teaching come, the school will teach it. “There is a great departure from teaching content which is what the Nigerian curriculum still does because information is readily available online, but the skills to be able to decipher which one is good information or fake information is what thinking will do to them so that they will be able to sort it out, otherwise they will take everything they find on the web as the truth and that is not always the case.� Koiki commended those who believed and supported the dream that made the new campus a success and thanked the pioneer parents of Ikoyi Campus for believing in the school and for entrusting their children to her care.

36

T H I S D AY Ëž ÍŻÍľËœ 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 ͖͕͔͑͑͒͑͒͑͑͘

The Epidemic Risk at Agbado Oke-Odo Community Ayodeji Ake who went on an on-the-spot assessment of the controversial dumpsite along Old Otta Road in Ile Epo, Agbado Oke-Odo, Local Government Council Development Area in Lagos, reports that over five thousand pupils and the residents are at the risk of an epidemic

A

gbado Oke Odo Local Council Development Area (LCDA) along Lagos Abeokuta Expressway, AbuleEgba, Alimosho area of Lagos, is one of the 37 local council development areas created in Lagos State in 2003, and it is the largest community in the whole of Alimosho territory. But that is not the point. The burning issue at the community is the huge dumpsite that has literally sacked the residents and at the same time put over five thousand pupils at the risk of an epidemic. As expected, the residents, especially market women recently raised an alarm over the dumpsite on Gideon Adeniran Street, Oke Odo community, which has caused heavy traffic, suspended market activities and exposed the children in the community to health hazards.

The Genesis When THISDAY visited the area, it was gathered that the genesis of the incident began in the former administration and when they cried out, the then governor had done the needful by directing waste trucks to be deployed to cart away the wastes. So, for some days during the week, the trucks would come and take away the generated wastes. That was the norm until earlier this year when the trucks started parking on Adeniran Street indefinitely instead of carting away the wastes.

Some of the trucks parked on Adeniran Street

Complaints When the non-removal of the waste trucks became consistent, the residents started to complain. According to them, the waste trucks not only destroyed their roads and blocked the market, but also exposed them to health hazards caused by the air pollution. One of the food sellers in the community who claimed anonymity told THISDAY that since the commencement of operation on the dumpsite, she has been unable to sell her food because the waste trucks blocked the entrance , as well as made the environment unconducive for her customers to eat. She said: “What is happening here is in two ways- the bad roads and the blockade on the said road have made life unbearable for us. If the government can help us build this road, there won’t be much cause for alarm. "Before, these people do not waste time when depositing their refuse at times, but because of the bad road, they take time and you won’t be able to withstand the odour in this area. We sell food but it has drastically reduced the number of customers that patronise me." Another food seller in the community popularly called Iya Ogunfe who also spoke to THISDAY lamented that the odour from the dumpsite is unbearable and has since chased their customers. She said they have endeavoured to speak to the authority to reorganise the trucks to stop blocking the street. She said: “We hardly sell our market. No one will want to come in and eat because this place stinks. We step on dirty water and expose ourselves to germs and diseases. "We have tried countless times to explain things to these people to also consider us but they turn deaf ear to us. Truly the drivers of the trucks patronise us but, what about our other customers. The most annoying thing is that they will be here from morning till night and without our customers patronising us, we end up eating our food ourselves. Let the government come to our aid because we don’t want them here anymore. The smell is unbearable." Another resident, one Mr. Abdul Akande, also noted that the activities of the waste trucks have become unbearable. Appealing to the government to come to their aid he said: “I am not saying that the way they come here is bad but they keep damaging our road. We hardly see space to park our cars and trekking to our homes is another big problem. If they want to continue using this dumpsite, the government should repair this road so that here will be convenient not only for us, but for the truck drivers too."

Threat to Pupils Mr. Pelumi Lawal, an environmentalist and a resident of the community explained to THISDAY that the operations of the dumpsite resumed without the knowledge of the local government chairman

and has resulted to heavy traffic and unbearable odour, which has exposed residents and pupils in the community to health hazards. Lawal who pointed that there are about three schools close to the dumpsite and other schools in the same environment, added that market women were also affected by the indiscriminate parking. He said: “The issue on ground was sorted out 10 years ago when the former governor of Lagos State, Babatunde Fashola, stopped them from using this dumpsite because it’s a residential area. Surprisingly, they resumed recently without the notice of our local government chairman. Recently the chairman himself was here and was shocked. "What we are clamouring for is that we want our environment to be safe because right now, the environmental integrity has been altered. The air

What we are clamouring for is that we want our environment to be safe because right now, the environmental integrity has been altered. The air is polluted and it’s hazardous to the health of the residents

is polluted and it’s hazardous to resident's health. The waste trucks are often parked on the road causing traffic because the road is already bad and the logistic generally to convey them has been a challenge. The refuse keeps piling up and I think they need more machines so that they can work better. If they can’t meet up, for the sake of those living in this environment, it will be advisable for them to relocate. "We have complained to them but they won’t hear us out. We have protested but we don’t want to limit it to the protest alone. We want the government to come to aid in this area. This is not good enough. “In this environment alone, we have over three private schools, two public schools (primary and secondary), and we also have some crèches around. Pupils around here with the number of schools in the area are over five thousand and this is the largest community in Alimosho Local Government Area."

Oke-Odo Chairman Reacts The Executive Chairman of Agbado OkeOdoLCDA, Dr. Augustine Arogundade, who expressed concern for the people, however explained that the operation on the dumpsite was an order from the state government. He said: “When I heard the announcement on radio and I read article published indicating that there were waste trucks in this environment, I quickly rushed to the site to see things for myself. On getting there I made enquiries and I found out that the decision was from the state government as part of an emergency situation to open up the dumpsite. The site according to them has been there

for the past 10 years. "This administration raised it up but when the issue of refuse was becoming a serious one in Lagos. That was why the place was opened for use. And as for us here in the local government we need to ensure that the health of the people there will not be jeopardised." To ease the complaint of the people however, Arogundade said he has set up a committee involving the legislators, excutive and department of environment to look at the environmental impact before they can swing into action to see that the health of the people is protected. He added, "this government is a responsive one, and once we conclude on our investigations concerning the likely effects, we will forward it to the state government for swift action. Ours is to take the report to the state government and ensure things are done."

The Councilor's AfďŹ rmation Also speaking, the Councilor Ward B, Agbado Oke-Odo LCDA, Hon. Tayo Akinsuyi, confirmed to THISDAY that the council has designed measures to investigate the activities of the dumpsite to ensure the complaints of the people are quickly attended to. He said: "The chairman has taken a bold step to ensure actions are taken. We were not aware of the operation and now that we are aware, we will work together as a team to see that people of Oke-Odo are relieved of the traffic and other complaints laid. We have been there and we have seen things for ourselves too and I am assuring you that we are working on it."

37

T H I S D AY Ëž ÍŻÍľËœ Í°ÍŽÍŻÍś

CRIME&SECURITY

Sodomy: Landlord Arrested for DeďŹ ling Tenants' Five Sons Stories by Rebecca Ejifoma The Lagos State Police Command has arrested a landlord, one Mr. Trust Ezekiel, 34, for allegedly defiling five sons of different tenants at their Ijanikin residence, THISDAY can exclusively report. The suspect has for years allegedly molested the children in his compound until the 10-year-old, who had endured the molestation for five years got fed up and opened up to another child. The alleged paedophile and landlord of no 10 Paul Anyawu Street, Era Ijaniki Lagos, was finally arrested on Friday, October 11, after the 10-year-old let the cat out of the bag. According to the minor, since age five, the landlord had been sleeping with him through the anus. Ezekiel, who is married and has two children, both girls, was said to have threatened the survivors that he would kill them if they spoke up. One of the survivor ’s, who cried that he didn’t want to die, said, “He always used olive oil to rub my anus then put his manhood inside. I always cry because it is painful." According to a source in the neighborhood who spoke to THISDAY on anonymity, this abnormality had been going on for years without any suspicion.

However, the landlord got arrested after the little boy complained to his elder brother and another little neighbour, a boy, who all concurred and echoed that the landlord threatened to kill them if they ever said anything to anyone. The source said: “In the process of recounting his ordeal, one of the the boy’s mother heard it and questioned them and they confessed. "That was how the woman became enraged and involved people and the police into the matter." The suspect, who is currently at the Gender Unit of the Lagos State Police Command, is currently undergoing interrogation. Confirming the arrest to THISDAY, the state Police Public Relations Officer, CSP Chike Oti, said further investigation is ongoing. Oti confirmed the little boy’s testimony that the landlord had been penetrating him through the anus for years now, adding that “the little boy decided to let the cat out of the bag just on Friday after a long time�. Meanwhile, the state Commissioner of Police, Imohimi Edgal, has warned parents to watch over their children with eagle’s eyes. He said: “You must watch over these children. They are vulnerable and easy to fall prey. "Who is your neighbour? Who

lives in your neighborhood. Who does your child move with?� Edgal however assured Lagosians that the man must face the full wrath of the law on completion of investigation. Speaking to THISDAY, the Child Protection Network Coordinator for Oshodi-Isolo, Mr. Ebenezer Omejalile, said they would act swiftly to ensure the survivors (all boys) get medical and psychological help. He said: “The trauma is what will affect them. They need urgent help. And we will not rest until the perpetrator is punished for his heinous crime against these children, their parents and the nation."

operations at Ilasamaja, Isolo area of the state. The Corps Marshal, Daniel Isiofia, an Assistant Superintendent of Police (rtd), who endorsed the sanction said the state considered it rather unfortunate that some officers by this singular act had seriously embarrassed the agency and the state government at large. Represented by the Executive Secretary, Mrs. Idowu Mohammed, he said it was in order to to quickly correct this anomaly that the agency will make sure that appropriate disciplinary action is quickly sanctioned against any officer found culprit in accordance with public service rules number 040501(xxviii and xxix) battery

SECURITY TIPS (PART 15) r 8IFO XBMLJOH PO B TJEFXBML OFBS B TUSFFU BMXBZT XBML GBDJOH UIF traffic to avoid being surprised by someone in a vehicle. r *G TPNFPOF JT XBMLJOH CFIJOE ZPV PS BQQSPBDIJOH ZPV BOE ZPV are unsure of their intent, make direct eye contact with them to let the person know that you are aware, you see them and you are not a victim. r *G ZPV UIJOL ZPV BSF CFJOH GPMMPXFE BCSVQUMZ TXJUDI EJSFDUJPOT PS duck into a police station, fire station, hospital, business or public place and ask for help. r *O ZPVS DFMM QIPOF DPOUBDUT QSPHSBN i*$& XIJDI TUBOET GPS iJO case of emergency,� linking it to a family member or friend‌someone you trust. r 3FNFNCFS UIBU UBMLJOH PO ZPVS DFMM QIPOF PS MJTUFOJOH UP IFBEQIPOFT in public makes you easy prey. r 8IFO BQQSPBDIJOH ZPVS IPNF PS WFIJDMF OFWFS GVNCMF JO ZPVS pocket, purse or bag for keys; have them in your hand prior to reaching the door. r 8IFO BQQSPBDIJOH ZPVS QBSLFE DBS MPPL BOE NBLF TVSF OP POF JT hiding in or around your vehicle, especially in the back seat. Source: SECURITY TODAY

CONTACTS OF LAGOS CP, OFFICERS

The suspect

LAGESC Sanctions 18 Errant Corps The Lagos State Environmental Sanitation Corps (LAGESC), has sanctioned 18 errant officers for activities bordering on battery and assault. The said officers includes: Babatunde Segun, Bature Muhammed, Whosu Clement, Shofolahun Ibrahim, Adeyanju Ibrahim, Qudus Alao, Ojo Tosin, Sulaimon Kazeem, Adeleke Omikunle, Olowoporoku Salawu, Koleosho Ayinla, Seun Ige, Yusuf Tunde, Dibia Vincent, Lawal Fatai, Musibau Adebayo, Odunlami Samuel, Shokoya Adegbuyi, and Obagbenro Yinka. The aforementioned officers were said to have engaged in unruly activities with members of public during one of their

CRIME SITUATION REPORTS

and assault. He said: "Meanwhile as a measure to ensure adequate disciplinary action is meted out to the erring officers without delay, the agency has directed the head of operations to forward the list of all officers in that particular operation and also directed that those officers that were injured during the fracas be taken to hospital for immediate treatment. "We this medium to appeal to the members of the public and those who were directly affected not to take law into their hands and that the state government would look into the matter holistically and bring any one found culprit to book without fear or favour."

1. CP Imohimi Edgal, Commissioner of Police Lagos State 08033040870 2. DCP Ayuba Elkanah Nabuni Deputy Commissiner of Police Administration 08033422152, 3. DCP Muhammed Ali Ari, Deputy Commissioner of Police Operations 08073666669 4.ACP Mohammed Danladi, Area Commander A, Lagos Island 08034668470 5. ACP Sani Sabo, Area Commander B Apapa 08038452224 6. ACP Godwin Eze, Area Commander C Surulere 08023407772. 7. ACP Akinbayo Olasoji, Area Commander D Mushin 08037140083 8. ACP Yusuf Ajape, Area Commander E Festac 08037073372 9. ACP Ibrahim Zungura, Area Commander F, Ikeja 08052058001 10. ACP Arumse J.D, Area Commander G Ogba 08033464144 11. ACP Miller Dantawaye, Area Commander H, Ogudu 08036695572 12. ACP Felix Oben, Area Commander J Elemoro 08033320682 13. ACP Hope Okafor, Area Commander K Morogbo 08026279242 14. ACP Ishola Olarenwaju, Area Commander L Ilashe, 0810321160 15 ACP Agbaminoja Toyin, Area Commander M Idimu 08081776484 16. ACP Mohammed Ahmadu, Area Commander N Ijede 08055554664 17. ACP Abdulsalam Gazali Alade, Area Commander P Alagbado 08033539984 18. CSP Chike Oti, Police Public Relations Officer (PPRO), 07065246927 SOURCE: LAGOS STATE POLICE COMMAND

PROCESS OF OBTAINING A FIREARM LICENSE 1. Log on to www.npf.gov.ng 2. Click firearms license link on the quick-link menu. 3. Click on the link: New User? Click Here To Register to obtain an application ID which will be electronically generated and automatically displayed on your biodata form. 4. You will be redirected to the biodata form after you have successfully signed up. 5. Fill the Bio-Data form when logged-in, then enter your details with the instructions outlined on the page. 6. Upload a certified medical report obtained from any government hospital and attestation of good character from two referees which should be level 14 and above. 7. Print out the information submitted then take the Print-out to officer in charge of firearms in any Police Commands SCIID or FCIID for further directives. 8. Upon completion of this procedure, your application shall be processed through the criminal data base of the force and decisions including issuance of the certificate if application is successful shall be conveyed within five working days. Your application will be fully processed after these steps. Applicants with challenges of processing their application online can go to the State Intelligence Bureau (SIB) within their State Police Command or the FHQ Abuja for support. SOURCE: Police Force Headquarters, Abuja

Executive Secretary LAGESC, Mrs. Idowu Mohammed addressing the oďŹƒcers of the corps

38

T H I S D AY Ëž OCTOBER 17, 2018

BUSINESS/MONEYGUIDE

StanChart Foresees Increased China-Africa Trade Nume Ekeghe with China is likely to boost imports from African countries as it seeks new sources of commodities in the wake of a trade war with the United States, a senior executive of Standard Chartered Bank in China said. Trade links between the Asian economic powerhouse and African nations like Kenya have been growing robustly in recent years, offering opportunities to lenders who serve Chinese clients doing business on the continent like Standard Chartered. Standard Chartered’s Global Head of the Internationalisation of the Chinese currency, renminbi (RMB), Carmen Ling, cautioned there would be no winners from the trade war in the short term, but added some African nations could gain in the long term.

“We believe that countries like Kenya and Nigeria will benefit because China will look to import more from Africa; some agricultural products from Kenya, some oil products from Nigeria,� she told Reuters on Monday. “Trade flow patterns will change because China will need to look for new trade partners.� Kenya’s trade with China grew 59 percent in the four years to 2017, to a total of $5.2 billion, Standard Chartered said, boosting the bank’s business from Chinese clients operating in Kenya by “double digits�. The East African nation turned to China over the past few years for funds, technology and equipment to develop its infrastructure, including its biggest project since independence, a $3.2 billion railway linking

Mombasa to Nairobi, which was opened last year. “We see more and more Chinese clients coming to Kenya, we have seen Kenya grow in importance to become a belt and road hub. This is the gateway,� Ling said. She was referring to China’s “One Belt, One Road� initiative, a multi-billion-dollar series of infrastructure projects upgrading land and maritime trade routes between China and Europe, Asia and Africa. The initiative has caused anger in some quarters with critics saying it increases China’s loans to African nations, placing a debt burden on future generations. Ling, decried the slow adoption of the RMB in trade settlements for deals between China and Africa, partly blaming the problem on lack of adequate clearing houses for the currency.

Mining: FG Partially Lifts Suspension on Blasting Activities around Tremor Areas Kasim Sumaina Ă“Ă˜ ĂŒĂ&#x;ÔË The federal government Committee on Earth Tremor has with immediate effect partially lifted initial the suspension imposed on all blasting and mining activities around the areas that experienced minor earth tremors in the FCT recently. Arising from a meeting held in the Ministry of Science and Technology, Monday, the Cabinet Committee on Earth Tremor said constructions and blasting of stones resumes around the affected areas with the exception of Mpape.

The Minister of Mines and Steel Development, Alhaji Abubakar Bawa Bwari, in a statement by his Media Aide, Ishaku Kigbu, disclosed the government’s decision. According to Bwari, “The decision to resume mining activities around areas that experienced minor earth tremors only accommodates construction activities and blasting of stones.� He added that, “Government after review of the suspension of blasting and mining activities around areas that experienced minor earth tremors has decided to lift the suspension placed on

such activities with immediate effect.� He said that all areas under suspension are to resume activities except for the Mpape axis. “However, mining companies are adviced by this renewed move to ensure they put in place sensors on their sites to detect some would be tremors before it happens.� The suspension was put in place in order to enable the team of experts put together by the ministry to do a thorough investigation into the remote causes of what triggered the tremor.

MARKET INDICATORS MONEY AND CREDIT STATISTICS 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)

FG Mulls Another Sukuk Bond for Infrastructure Devt. The federal government is considering issuing another tranche of N100 billion Sukuk bond for the construction of roads and infrastructure development in the country. This, was disclosed at a recent two-day training on Sukuk Structurisation and Management in Abuja, organised by the Metropolitan Skills Limited in collaboration with the Federal Ministry of Finance, and Standing Committee for Economic and Commercial Cooperation of the organisation of the Islamic Cooperation (COMCEC). The Chief Executive Officer (CEO) of Metropolitan Skills, Ms. Ummahani Amin, disclosed that the second tranche of the Sukuk bond was being planned by the Debt Management Organization (DMO). Amin, noted that the first N100 billion Sukuk issued last year recorded a huge success, promising that this year’s will not be different. “We are doing the second tranche now because the first one was successful and oversubscribed. N100 billion

was involved in the first and the second is on the way. So we are looking at the same infrastructure, construction of roads across Nigeria and the six geopolitical zones. This has never happened in the history of Nigeria for infrastructure,� she said. Amin, said the essence of the workshop was to create more awareness on the Sukuk bond in Nigeria and West Africa. She added that partners from the Gambia were in attendance so as to sell Sukuk to their government. Also, Dr. Ahmad Dogarawa who was the key speaker on Sukuk Structurisation and Management, advised that the Nigerian government should explore Sukuk as an alternate and viable source of raising finance. Dogarawa noted that Islamic Banking also referred to as non-interest and Sharia banking, has been embraced as the future of the global economy. To this end, he disclosed that despite the negative campaign over its Sharia law affiliation,

most Southern states keyed in and invested more in the instrument issued earlier, because of its economic benefits. He stressed that the attractiveness of the instrument was influenced by its non-interest loans and Sharia compliance, competitive pricing, ease of clearing and settlement. Dogarawa, who lectures at the Department of Accounting , Ahmadu Bello University, Zaria, explained that Sukuk is mostly rated because it can be listed in most exchanges; has wide range of maturities, coupon fixed/floating; as well as available to institutions and retail investors. He noted that governments across the world issues Sukuk because its a “suitable instrument for treasuries to attract global investors; provides diversification of investor base and instruments; may be utilised to achieve long-term funding for infrastructure projects; and sets benchmark for financial institutions and corporate issuances�.

(MILLION NAIRA)

MARCH 2018

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

Nestoil Appoints New Executive Director Nestoil Limited, one of Nigeria’s leading oil and gas Engineering Procurement, Construction and Commissioning (EPCC) company has announced the appointment of Obinna Ufudo as its Executive Director, Operations. Ufudo, a seasoned financial

services and corporate management professional joins Nestoil with over two decades of experience across multiple industries. He has held senior level positions in Trading, Investments, General Management and Financial Advisory capacities. He was the Group President/

Chief Executive Officer of Transnational Corporation of Nigeria Plc (Transcorp), from 2011 to 2014, where he led the turn-around and repositioning of the company. He had supervisory responsibility for Transcorp’s power, hospitality, agriculture and oil & gas businesses.

OPEC DAILY BASKET PRICE AS AT MONDAY OCTOBER 15, 2018

The price of OPEC basket of ďŹ fteen crudes stood at $79.31 a barrel on Monday, compared with $79.36 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 OCTOBER 17, 2018

MARKET NEWS

Volume of Trading Rises 624% as Dangote, NB Plc Lift All-Share Index Goddy Egene The volume of trading at the stock market soared by 624 per cent yesterday as investors traded 662.021 million valued at N5.312 billion, up from 91.4 million shares worth N960.9 million the first day of the week. Also, recovery in share prices of bellwether tickers lifted the Nigerian Stock Exchange (NSE) All-Share Index by 0.95 per

cent to close at 32,722.18, compared with a decline of 0.14 per cent the previous day. Notably, gains by Dangote Cement Plc, Nigerian Breweries Plc, Unilever Nigeria Plc and Zenith Bank Plc propelled the positive close. According market operators, there were further selloffs on banking tickers as investors continued to book profit. “These was however offset by the recovery by the

P R I C E S MAIN BOARD

F O R

DEALS

heavily weighted stocks in the consumer goods sector and Dangote Cement, which gained 2.50 per cent,� they said. However, UACN Property Development Plc led the price gainers with 9.9 per cent, trailed by Cutix Plc with 9.7 per cent. Unilever Nigeria Plc and FBN Holdings Plc garnered 5.5 per cent and 3.3 per cent apiece. Cadbury Nigeria Plc, Nigerian Breweries

S E C U R I T I E S

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

Plc and Dangote Cement Plc chalked up 3.1 per cent, 3.1 per cent and 2.5 per cent in that order. Conversely, Beta Glass Plc led the bears, shedding 10 per cent, trailed by Julius Berger Nigeria Plc with 9.8 per cent. Niger Insurance Plc shed 9.0 per cent, just as Japaul Oil & Maritime Services Plc and Universal Insurance Plc went down by 8.7 per cent each. An analysis of the activity

T R A D E D MAIN BOARD

A S

chart showed that GTBank recorded the highest trading in volume terms with 41.8 million shares, followed by Fidelity Bank Plc (20.3 million shares0 and Zenith Bank Plc (17.3 million shares), while Seplat (N2.2 billion), GTBank (N1.5 billion) and Dangote Cement (N0.4 billion) led in value terms. Meanwhile, three out of five sectors closed positively, led by the NSE Consumer Goods Index with 1.2 per cent. This

O F

followed buying interest in Nigerian Breweries Plc and Unilever Nigeria Plc. Similarly, price appreciation in Dangote Cement Plc, Zenith Bank Plc , UBA and Union Bank of Nigeria Plc drove the NSE Industrial Goods Index and NSE Banking Index by 0.2 per cent and 0.1 per cent higher respectively. Conversely, the NSE Oil & Gas Index and NSE Insurance Index declined 1.3 per cent and 0.5 per cent respectively.

1 5 / 1 0 / 2 0 1 8 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

˾ WEDNESDAY, OCTOBER 17, 2018

40

Wednesday, October 17, 2018 Thisday Afrinvest Index Rises , Up 60bps Yesterday, the Thisday Afrinvest Index gained 60bps to

THISDAY AFRINVEST 40 INDEX

1,363.44 due to buying interest in UNILEVER (5.1%),

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

FBNH (3.4%) and NIGERIAN BREWERIES (3.1%) which Ticker

ĐƵŵƵůĂƟǀĞůLJ ĂĐĐŽƵŶƚ ĨŽƌ ϭϭ͘ϲй ŽĨ ƚŚĞ ŝŶĚĞdž͘

THISDAY AFRINVEST 40

Renewed

Interest

in

Bellwethers

Buoy

Performance͙ ASI up 95bps Renewed buying interest in bellwethers – DANGCEM (+2.5%), NIGERIAN BREWERIES (+3.1%), UNILEVER (+5.6%) and ZENITH (+1.5%) - ĚƌŽǀĞ ƚŚĞ ƉŽƐŝƟǀĞ performance of the local bourse yesterday. As a result, the benchmark index inched 95bps higher to 32,722.18, YTD loss moderated to -ϭϰ͘ϰй ǁŚŝůĞ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝnjĂƟŽŶ increased by N112.bn to N11.9tn. In the same vein, ĂĐƟǀŝƚLJ ůĞǀĞů ŝŵƉƌŽǀĞĚ ĂƐ ǀŽůƵŵĞ ĂŶĚ ǀĂůƵĞ ƚƌĂĚĞĚ surged 624.3% and 452.8% to 662.0m units and N5.3bn ƌĞƐƉĞĐƟǀĞůLJ ĚƵĞ ƚŽ ƚƌĂĚĞƐ ŝŶ ůĂƌŐĞ ĐĂƉ ƐƚŽĐŬƐ͘ GUARANTY (41.8m units), FIDELITY (20.3m units) and ZENITH (17.3m units) were the top traded stocks by volume while

SEPLAT (N2.2bn), GUARANTY (N1.5bn) and DANGCEM (N0.4bn) led by value.

WŽƐŝƟǀĞ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ WĞƌĨŽƌŵĂŶĐĞ ĂĐƌŽƐƐ ƐĞĐƚŽƌƐ ǁĂƐ ƉŽƐŝƟǀĞ ĂƐ ϯ ŽĨ ϱ ŝŶĚŝĐĞƐ closed northwards. The Consumer Goods index gained the most, up 1.2% following buying interest in NIGERIAN BREWERIES (+3.1%) and UNILEVER (+5.6%). Similarly, ƉƌŝĐĞ ĂƉƉƌĞĐŝĂƟŽŶ ŝŶ DANGCEM (+2.5%), ZENITH (+1.6%), UBA (+0.6%) and UBN (+1.0%) drove the Industrial Goods ĂŶĚ ĂŶŬŝŶŐ ŝŶĚŝĐĞƐ Ϭ͘Ϯй ĂŶĚ Ϭ͘ϭй ŚŝŐŚĞƌ ƌĞƐƉĞĐƟǀĞůLJ͘ KŶ ƚŚĞ ŇŝƉ ƐŝĚĞ͕ ƚŚĞ Kŝů Θ 'ĂƐ ĂŶĚ /ŶƐƵƌĂŶĐĞ ŝŶĚŝĐĞƐ ĚĞĐůŝŶĞĚ͕ ƐŚĞĚĚŝŶŐ ϭ͘ϯй ĂŶĚ Ϭ͘ϱй ƌĞƐƉĞĐƟǀĞůLJ ĚƵĞ ƚŽ ƐĞůů

pressures

in

SEPLAT

(-1.6%),

AIICO

(-5.2%)

and

HMARKINS (-0.3%).

/ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ tĞĂŬĞŶƐ

;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ ǁĞĂŬĞŶĞĚ ƚŽ Ϭ͘ϳdž ĨƌŽŵ Ϭ͘ϵdž recorded the previous day as 16 stocks appreciated in ǀĂůƵĞ ƌĞůĂƟǀĞ ƚŽ Ϯϯ ƚŚĂƚ ĚĞĐůŝŶĞĚ͘ dŚĞ ƚŽƉ ƉĞƌĨŽƌŵĞƌƐ

Price Price Previous Current Change Change Price Weighting YTD Index to Change Date

ROE

ROA

P/E

P/BV

Divinden Earnings d Yield Yield

1,363.44

0.60%

-11.6%

36.3%

19.9%

6.7%

5.8x

0.7x

6.3%

12.4%

1

Guaranty Trust Bank PLC

36.65

-0.7%

21.8%

-10.1%

-9.6%

35.8%

5.4%

5.6x

2.2x

7.4%

17.8%

2

Zenith Bank PLC

22.70

1.6%

13.1%

-11.5%

-12.5%

3.9x

1.0x

12.2%

25.8%

3

Nigerian Brew eries PLC

88.70

3.1%

6.7%

-34.2%

-34.3%

15.9%

7.3%

25.5x

4.1x

4.7%

3.9%

4

Nestle Nigeria PLC

1,400.00

0.0%

8.2%

-10.0%

-10.0%

92.0%

23.0%

28.7x

24.9x

3.0%

3.5%

5

Dangote Cement PLC

6

FBN Holdings Plc

205.00

2.5%

6.3%

-10.9%

-10.9%

21.7%

9.9%

20.9x

4.9x

5.1%

4.8%

9.25

3.4%

6.6%

5.1%

5.2%

7.4%

0.9%

6.1x

0.5x

2.7%

16.5%

7

Access Bank PLC

8.05

0.0%

3.9%

-23.0%

-24.1%

13.3%

1.6%

3.7x

0.5x

8.1%

27.1%

8

United Bank for Africa PLC

8.20

0.6%

4.0%

-20.4%

-21.2%

16.2%

1.9%

3.7x

0.6x

10.4%

27.4%

2.9%

35.2% 14.3%

9

Ecobank Transnational Inc

10

SEPLAT Petroleum Development C

17.45

-0.3%

3.8%

2.6%

7.3%

12.2%

1.0%

5.6x

0.7x

620.00

-1.6%

3.5%

-1.0%

-1.0%

25.0%

14.6%

2.8x

0.7x

11

Stanbic IBTC Holdings PLC

45.00

-0.2%

3.6%

8.4%

10.0%

35.4%

4.9%

7.0x

2.2x

2.2%

12

Unilever Nigeria PLC

43.50

5.6%

3.1%

6.1%

8.2%

20.4%

8.7%

24.0x

3.2x

1.2%

4.2%

13

Guinness Nigeria PLC

79.00

0.6%

2.2%

-16.0%

-16.0%

10.3%

4.5%

23.5x

2.0x

2.3%

4.3%

14

Lafarge Africa PLC

21.00

-2.3%

0.9%

-53.2%

-53.2%

-54.0%

-10.1%

1.3x

7.1%

-42.9%

15

Fidelity Bank PLC

1.90

-0.5%

1.1%

-22.8%

-26.4%

11.5%

1.5%

1.4x

0.3x

5.8%

16

Oando PLC

5.00

-3.8%

1.2%

-16.5%

-16.5%

10.3%

1.5%

4.4x

0.3x

17.8%

Dangote Sugar Refinery PLC

15.00

0.0%

1.0%

-25.0%

-26.3%

41.5%

18.1%

5.1x

1.8x

8.3%

19.7%

18

Okomu Oil Palm PLC

79.80

0.0%

1.5%

17.9%

17.9%

35.8%

26.6%

8.6x

2.8x

3.8%

11.6%

19

International Brew eries PLC

32.00

0.0%

0.5%

-41.3%

-41.8%

24.6%

7.4%

33.5x

7.6x

20

Flour Mills of Nigeria PLC

20.60

-2.8%

0.5%

-29.0%

-29.0%

9.8%

2.9%

5.1x

0.6x

4.9%

19.7% 15.3%

3.0%

21

Transnational Corp of Nigeria

1.27

1.6%

0.6%

-13.0%

-14.2%

12.9%

2.8%

6.5x

0.8x

1.6%

22

UAC of Nigeria PLC

11.00

0.0%

0.4%

-34.9%

-34.9%

1.4%

0.6%

19.7x

0.5x

6.4%

23

Diamond Bank PLC

1.22

-0.8%

0.5%

-18.7%

-22.3%

-7.2%

-0.9%

-20.4%

-20.4%

33.1%

6.9%

6.8x

2.1x

9.5%

14.6%

-1.9%

6.7%

1.0%

2.5x

0.2x

6.5%

39.2%

6.0x

2.1x

4.6%

24

Total Nigeria PLC

25

FCMB Group Plc

183.00

0.0%

0.5%

1.55

-4.3%

0.6%

26

11 PLC

175.00

0.0%

0.5%

-10.1%

-10.1%

40.2%

16.0%

27

Forte Oil PLC

22.30

0.2%

0.3%

-48.7%

-46.9%

29.7%

3.0%

28

PZ Cussons Nigeria PLC

12.60

0.0%

0.3%

-38.8%

-40.4%

29

Cadbury Nigeria PLC

9.80

3.2%

0.3%

-37.5%

-37.2%

5.9%

2.2%

30

Presco PLC

53.00

0.0%

0.3%

-22.6%

-22.6%

31

NASCON Allied Industries PLC

19.90

0.0%

0.4%

7.6%

3.5%

32

UPDC Real Estate Investment Tr

9.00

0.0%

0.3%

-10.0%

-10.0%

0.1x

1.7x

29.1x

33

Union Bank of Nigeria PLC

5.00

1.0%

0.2%

-35.9%

-33.4%

34

Julius Berger Nigeria PLC

21.55

-9.8%

0.3%

-23.0%

-23.0%

17.3%

20.6%

9.4x

45.0%

5.4x

7.9%

10.6%

0.8x

7.8%

0.5x 0.9x

3.9x

1.50

-0.7%

0.4%

38.9%

32.7%

11.0%

1.1%

36

7.95

1.3%

0.2%

-34.6%

-34.6%

0.0%

0.0%

37

GlaxoSmithKline Consumer Niger

14.00

-0.4%

0.2%

-35.2%

-35.2%

6.5%

3.6%

38

Chemical and Allied Products P

33.00

0.0%

0.2%

-2.9%

-7.6%

66.2%

30.2%

39

Beta Glass PLC

70.20

-10.0%

0.2%

36.8%

36.8%

17.7%

11.5%

8.5x

40

Transcorp Hotels Plc

6.10

0.0%

0.1%

-15.4%

-15.4%

6.0%

3.3%

14.0x

12.6% 4.6%

16.8% 25.6%

0.4x

1.3%

1.0x

2.5%

20.1x

2.0x

53.6%

5.0%

15.4x

10.3x

6.2%

6.5%

1.4x

1.5%

11.7%

0.8x

2.0%

7.2%

T o p 10 T ra de s by V o lum e

T o p 10 G a ine rs P ric e

P ric e C hg %

UA C -P R OP

1.77

9.9%

C UT IX

2.03

9.7%

43.50

5.6%

FB NH

9.25

C A D B UR Y NB

3.4%

3.7%

8.0x

Sterling Bank PLC

UN ILEVER

1.2% 1.6%

6.0x

Dangote Flour Mills Plc

T ic k er

1.2x

1.8%

35

T ic k er

Vo lum e

P ric e C hg %

GUA R A N T Y

41.8

-0.7%

F ID ELIT YB K

20.3

-0.5%

Z EN IT H B A N K

17.3

1.6%

3.4%

FCM B

11.9

-4.3%

9.80

3.2%

A C C ESS

10.5

0.0%

88.70

3.1%

WEM A B A N K

5.2

-4.4% -1.6%

205.00

2.5%

H ON YF LOUR

5.0

WA P IC

0.41

2.5%

T R A N SC OR P

5.0

1.6%

J A IZ B A N K

0.51

2.0%

FB NH

4.7

3.4%

T R A N SC OR P

1.27

1.6%

SOVR EN IN S

4.1

0.0%

T o p 10 Lo s e rs

T o p 10 T ra de s by V a lue

P ric e

P ric e C hg %

B ET A GLA S

70.20

-10.0%

J B ER GER

21.55

-9.8%

(+5.6%) while BETAGLASS (-10.0%), JBERGER (-9.8%) and

N IGER IN S

0.30

-9.1%

NIGERINS (-9.1%) were the worst performers for the day.

UN IVIN SUR E

0.21

-8.7%

J A P A ULOIL

0.21

-8.7%

CHA M S

0.24

H M A R KIN S

0.28

A IIC O

0.73

-5.2%

NB

53.0

3.1%

WEM A B A N K

0.65

-4.4%

FB NH

43.4

3.4%

FCM B

1.55

-4.3%

F ID ELIT YB K

38.7

-0.5%

tĞ ĂŶƟĐŝƉĂƚĞ ƐƵƐƚĂŝŶĞĚ ďĂƌŐĂŝŶ ŚƵŶƟŶŐ ŝŶ ďĞůůǁĞƚŚĞƌƐ

Ɵůů ŵŝĚǁĞĞŬ as investors take advantage of cheap entry prices.

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

16.6% -11.7%

1.6x

2.2x 62.4%

5.1% -70.9%

T ic k er

were UAC-PROP (+9.9%), CUTIX (+9.7%) and UNILEVER

71.5% 22.7%

17

D A N GC EM

/ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ ĂƐ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ

Current Price

T ic k er

Value

SEP LA T

2179.7

P ric e C hg % -1.6%

GUA R A N T Y

1534.1

-0.7%

D A N GC EM

399.3

2.5%

Z EN IT H B A N K

389.1

1.6%

UN ILEVER

149.7

5.6%

-7.7%

N EST LE

130.3

0.0%

-6.7%

A C C ESS

84.7

0.0%

Investment Research

Brokerage Ayodeji Ebo | aebo@afrinvest.com

Robert Omotunde |

Bolaji Fajenyo | bfajenyo@afrinvest.com

Jolomi Odonghanro | jodonghanro@afrinvest.com

romotunde@afrinvest.com

41

T H I S D AY Ëž Ëœ ÍšÍżËœ ͺ͸͚͜

MARKET NEWS

UBA Shows Resilience, Records N375bn Earnings, N79bn Profit Goddy Egene United Bank for Africa Plc yesterday announced its unaudited results for the nine months ended September 30, 2018. The pan-African financial institution with presence in 20 African countries, recorded gross earnings of N374.8 billion, an 12.3 percent increase when compared to N333.9 billion recorded in the corresponding period of 2017. Net operating income stood at N238.364 billion as against N236.9 billion, while net impairment charges fell from N12.909 billion to N10.674 billion in 2018.

Amidst inflationary pressures and uncertainties undermining the business environment in Nigeria and a few other countries in Africa, UBA’s operating expenses only increased by 2.3 percent to N149.1 billion, compared to N145 billion recorded in the same period of last year. In all, the bank posted a profit before tax (PBT) of N79.1 billion, compared with N78.2 billion while profit after tax (PAT) improved from N60.9 billion from N61.6 billion. The bank ended the period with a strong balance sheet, with total

A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager. Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return. An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the

assets of N4.51 trillion up 10.8 per cent, from N4.07 trillion as at December 31, 2017. Another strong indication of the growth of the bank and more so, acceptance of the franchise across Africa is the remarkable 16.2 per cent year-to-date growth in customer deposits, which grew to N3.18 trillion, compared to N2.73 trillion as at December 2017. Also, shareholders’ funds remained very strong at N509.3 billion, even as the implementation of International Financial Reporting Standard (IFRS) 9, moderated the group’s equity by 3.8 per cent year-to-date.

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 1510-2018, unless otherwise stated.

Commenting on the result, the Group Managing Director/CEO, UBA Plc, Kennedy Uzoka, said: “We achieved a number of strategic imperatives during the quarter and committed more investments in the future of the business - building a solid foundation for sustainable and superior return to our shareholders.� Uzoka said that he is pleased that the bank’s virtual banking chatbot, Leo, which debuted on Facebook earlier in the year, was successfully launched on WhatsApp during the quarter. “This new channel offering, which enables our customers to fulfil

their banking transactions through simple chat commands, is another premier initiative in our suite. The early pay-offs are quite compelling – recent customer acquisitions and broader transaction volume growth are exciting leading indicators that reinforce our confidence in these novel channels,� he said. Also speaking on the performance, the Group Chief Financial Officer, Ugo Nwaghodoh said that despite the relative volatility in the third quarter of 2018, especially in the face of U.S. interest rate hikes and concerns over global trade war, which has

disrupted the interest and exchange rate environment in many African countries, the bank remains on track to deliver its earnings target for the year. He said: “We remain committed to our five-year plan of working down CIR to 50 per cent, which we consider to be a normalised medium-term CIR. Overall, we closed the third quarter with a posttax RoAE of 16 per cent and the Group remains well capitalized and liquid, as reflected in the Group’s capital adequacy of 21 per cent and Bank’s liquidity ratio of 53 per cent.�

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 N/A N/A N/A Afrinvest Plutus Fund N/A N/A N/A Nigeria International Debt Fund N/A N/A 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 0.83 0.84 0.86% ACAP Income Funds 0.62 0.62 5.88% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 12.17% AIICO Balanced Fund 2.18 2.19 -5.30% 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 134.68 135.63 -11.21% AXA Mansard Money Market Fund 1.00 1.00 11.86% 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 10.71% Paramount Equity Fund 11.68 11.98 5.34% Women's Investment Fund 102.08 104.70 1.44% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 11.82% CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund 1.00 1.00 11.36% Coronation Balanced Fund Coronation Fixed Income Fund 1.08 1.11 4.13% 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 100.00 100.00 11.84% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 12.37% 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 1,202.24 1,203.00 11.02% FBN Heritage Fund 140.67 141.61 0.66% FBN Money Market Fund 100.00 100.00 11.91% FBN Nigeria Eurobond (USD) Fund - Institutional $114.72 $115.07 4.06% FBN Nigeria Eurobond (USD) Fund - Retail $114.50 $114.84 3.96% FBN Nigeria Smart Beta Equity Fund 152.40 154.56 -4.32% 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 1.22 1.24 -5.59% Legacy Debt Fund 3.17 3.17 9.87% Legacy USD Bond Fund 1.01 1.01 1.50% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Growth Fund 3,000.37 3,030.24 0.50% Coral Income Fund 2,726.22 2,726.22 11.36% GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund 100.00 100.00 11.51% Nigeria Entertainment Fund 104.83 105.32 4.41% 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 100.00 100.00 11.85% Vantage Balanced Fund 2.14 2.16 1.51%

Vantage Guaranteed Income Fund 1.00 1.00 14.26% Kedari Investment Fund (KIF) 122.19 122.43 6.18% 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 1.19 1.21 3.60% Lotus Halal Fixed Income Fund 1,070.47 1,070.47 8.52% 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 11.48 11.58 -11.49% Meristem Money Market Fund 10.00 10.00 11.56% 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 1.38 13.53% PACAM Fixed Income Fund 12.04 11.97 8.44% PACAM Money Market Fund 10.00 10.00 12.02% SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 128.01 128.55 -1.26% 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 1.66 1.66 11.79% 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 2,264.06 2,278.63 3.06% Stanbic IBTC Bond Fund 187.07 187.07 7.44% Stanbic IBTC Ethical Fund 0.95 0.96 -5.45% Stanbic IBTC Guaranteed Investment Fund 243.20 243.24 12.70% Stanbic IBTC Iman Fund 162.05 163.86 -9.52% Stanbic IBTC Money Market Fund 100.00 100.00 11.48% Stanbic IBTC Nigerian Equity Fund 8,541.58 8,645.62 -10.19% Stanbic IBTC Dollar Fund (USD) 1.09 1.09 5.97% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.17 1.17 -1.59% United Capital Bond Fund 1.56 1.56 9.50% United Capital Equity Fund 0.69 0.71 -8.23% United Capital Money Market Fund 1.00 1.00 11.80% United Capital Eurobond Fund 105.20 105.20 5.15% United Capital Wealth for Women Fund 1.07 1.08 3.16% 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 11.37 11.55 -6.07% Zenith Ethical Fund 12.25 12.36 -5.13% Zenith Income Fund 20.42 20.42 10.70% Zenith Money Market Fund 1.00 1.00 10.96%

REITS NAV Per Share

Yield / T-Rtn

9.00 138.53 51.55

-20.11% 4.58% 1.42%

Bid Price

Offer Price

Yield / T-Rtn

10.53 122.01 92.21

10.63 124.58 93.93

-11.14% -14.59% -15.60%

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

4.13 7.41 15.14 14.89 143.67

4.17 7.49 15.24 15.09 145.67

-12.84% -22.48% -13.30% -24.16% 6.75%

NAV Per Share

Yield / T-Rtn

105.44

17.63%

FOR HNI & PROFESSIONAL INVESTORS ONLY

Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

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

42

T H I S D AY ˾ ͯ͵˜ ͰͮͯͶ

T H I S D AY ˾ WEDNESDAY OCTOBER 17, 2018

43

44

T H I S D AY ˾ ͯ͵˜ ͰͮͯͶ

T H I S D AY ˾ WEDNESDAY OCTOBER 17, 2018

45

46

T H I S D AY ˾ ͯ͵˜ ͰͮͯͶ

47

WEDNESDAY OCTOBER 17, 2018 ˾ T H I S D AY

NEWSEXTRA

Nigeria’s FDI Inflow to Hit $1.160bn in 2020, Analysts Predict Chris Uba Foreign capital inflow to Nigeria is expected to reach $724.41 million in 12 months’ time, according to Trade Economics analysts, which also projected that in the long-term, foreign capital importation into the country would trend around $1.160 billion in 2020, accthe result of its econometric models. Although, the capital inflow for the third quarter, which ended September 30, 2018, has yet to be released by the relevant government agencies, Trade Economics, which provides its users with accurate information for 232 countries including historical data for 300 indicators, projected it to be around $ 948 million. The projections were displayed on its website. Capital importation has three main components, which include Foreign Direct Investment (FDI), Portfolio and other investments. The data by Trade Economics does not, however, indicate the component that is expected in the high inflow of capital in the forecast and the sectors they are expected to be directed. The inflow in the second quarter of the year rose by $ 435.64 million. It had averaged $1. 279. billion from 2007 until 2018, reaching an all high of $3. 084 billion first quarter of 2012 and a record low of $435.64 million in the second quarter of 2018. The country had in the first quarter of the year, which ended March 31, 2018, received foreign capital totaling $6. 303.63 billion, which is a year-on-year increase 594 per cent and 17.11 per cent growth over the figure registered in the previous quarter. According to National Bureau of Statistics (NBS), since second quarter of 2017, Portfolio Investment has been expanding faster than the other two categories ,remaining the largest component of the capital imported into the first quarter of 2018 , at 35 per cent of total capital imported but now on

dwindling side. The other components, FDI and other investments accounted for 3.91 per cent and 23.67 per cent, respectively, of the total capital imported into the country in the first quarter of 2018. In 2017, Nigeria recorded an inflow of $12.2 billion, representing an increase of $7,104.4 billion or 138.7 per cent compared with the figure recorded in 2016. This is a far cry to the volume of foreign capital that has been projected by the government for the economic development of the country. It is believed that the country needs, at least, $16billion in foreign capital inflow annually. “Foreign direct investment is an indispensable element in economic development and growth, which is the reason the Federal Government has been making efforts to make the country attractive for foreign capital,” said a senior official of the Ministry of Trade and Investment, who does not want his name in the print because he does not have the capacity to speak for the ministry. He said the government’s effort for FDI drive is born out of the belief that huge inflow of foreign capital into the country would help to address the lingering socioeconomic problems in the country and bring about sustainable growth, while improving the quality of lives of the citizenry. He regretted that the inflow of foreign capitals into the country has not been encouraging, a situation, which he said was induced by the poor investment climate in Nigeria, intensified by the growing insecurity and infrastructure deficit, among others, which he said have made the country unattractive for foreign investors, vitiating the policy objective making the country an FDI destination. An investment analyst and Managing Consultant of BIC Consultancy Services, Lagos, Dr

FG Reducing Poverty at the Grassroots with Trader Moni, Says BoI Jonathan Eze Executive Director, Bank of Industry (BoI), Toyin Adeniji, has said the Trader Moni programme was part of government efforts aimed at reducing poverty at the grassroots level. According to her, the programme would be activated in various markets nationwide and would support two million Nigerians to grow their businesses through access to collateral free loans irrespective of their status or level of education. This was revealed yesterday as no fewer than 10,000 petty traders in Ogun State accessed the non- collateral free loan of the federal government to expand their business activities. Speaking at the activation initiative at Sango Ota market in the state, Adeniji said the goal of the scheme was to take financial inclusion down to the grassroots whereby water seller, bread seller, food vendor, commercial motorcyclists among others can access micro credit to expand their business. According to him, “Trader Moni initiative is a mobile phone-driven. After your details

have been captured by agent and sent to BoI system for validation, within 48 hours, you will get cash notification in your mobile wallet account. “You can either transfer the cash to your bank account or cash it out with any mobile money agent around.” The federal government had earlier unveiled the programme under the Government Enterprise and Empowerment Programme (GEEP) in partnership with the Bank of Industry (BoI). Chief Operating Officer of GEEP, Uzoma Nwagba, said the initiative was targeted at 30,000 traders in the state. He urged beneficiaries to do their best to repay the loans so that others can benefit from the opportunity of the programme. A food seller, Mrs. Sarah Arisekola, commended the government for the initiative, adding that the money would assist her get more foodstuffs for her business. Also, Mrs. Bunmi Olutobi, who deals on jewelry, said the economic situation of the country was harsh, but with the initiative from government, many traders would experience financial relief.

Boniface Chizea, who spoke to THISDAY said “I am surprised as I thought that the issue of FDI flows nose diving has been with us for some time now. “What has been in the front burner lately and which has preoccupied the authorities is the issue of portfolio investments which is hot money that is very responsive to the perceived risk in the economy.” According to him, “we have confronted this problem frontally as the authorities have innovated to maintain stability

of the exchange rate and sustain accretion to the reserves even as it is correct to note that the recent improvement in the price of oil in the international market also contributed to this welcome situation.” Continuing he said that “the Nigeria investment environment is relatively high risk which has been exacerbated with the recent developments in the economy particularly the unfortunate herders/farmers imbroglio, the Boko Harm insurrection and the spate of abductions which have

all resulted to an unacceptable level of loss of human life. “This unfavorable situation has just been raised a notch higher because of fears pertaining to the outcome of election 2019.” Chizea said “for you to sustain FDI flows you must enjoy macroeconomic stability so that potential investors can have a long term view of the risk factor in your economy. “ Where you do not have such an environment it is unrealistic to be expecting robust FDI flows and that is the case now with

Nigeria. “ Even when you are able to achieve macroeconomic stability, your economic environment has to be competitive. “ Issues pertaining to availability of requisite infrastructure come into consideration; power supply, roads, water, security of life and property and of course your comparative rate of inflation and sanctity of contracts. “And even the level of corruption in the country which is a cost factor is also of important consideration. When you review

BANKING SECTOR REPORT...

L-R: Managing Director, Afrinvest Security Limited, Mr. Ayodeji Ebo; Managing Director, Afrinvest Asset Management Limited, Mr. Ola Belgore; Group Managing Director, Afrinvest West Africa Limited, Mr. Ike Chioke; and Deputy Managing Director, Afrinvest West Africa Limited, Mr. Victor Ndukauba, at the Afrinvest Nigerian banking sector report 2018 pre-launch media presentation in Lagos...yesterday ETOP UKUTT

Jonathan’s Cousin Opens Defence in Alleged $40m Fraud Suit AlexEnumahinAbuja Former President Goodluck Jonathan’s cousin, Robert Aziboala, yesterday opened his defence in his trial over allegations of fraud to the tune of over $40 million. Azibola and his company, One Plus Holding Limited are been prosecuted by the federal government for allegedly taking possession of the sum of $40 million from the Office of the former National Security Adviser, Sambo Dasuki, and converting same into personal use. At the resumed trial yesterday, he told Justice Nnamdi Dimgba of the Federal High Court Abuja, that he is being vilified by the present administration for serving his country. Led in evidence in chief by his counsel, Goddy Uche (SAN), the defendant narrated that apart

from being chairman of several companies, his background as an activist spanned from his university days to pro democracy activism and environmental crusader. Aziboala told the court that he founded the Nigerian Delta Human and Environmental Rescue Operation. He also claimed to be a member of several non-governmental organisations committed to fighting for the common manandchampionthecrusadeagainst environmental degradation in the Niger Delta. As president of Niger Delta-HERO, Aziboala said he led several protests as an activist to protect Niger Delta region and Nigerians in general and the fundamental human rights of everybody that is alive. Laying the foundation for his evidence in chief, he told the court that he led the Movement for the

Survival of Ogoni People (MASOP) to advance the cause of Ogoni people. More so, Aziboala stated that in the cause of campaigning for the enthronement of democracy, “I was arrested and detained by the State Security Service and other agencies. “MyLord,IhaveservedNigeriaand I am conscious of the fact of coming from the minority. I interfaced with virtually every pro-democracy activist in this country. “For my sake, the late Ken Saro Wiwawasarrested.Hewasmymentor. When he was killed, I abandoned law practice and became a pro-democracy and environmental activist”, Aziboala narrated. Thedefendantdisclosedthatbecause of his activism, he embarked on several international speaking tours on behalf of Nigeria and Nigerians. “At a point, people I recommended

visa for were given because of my backgroundasahumanrightspromoter and environmental protection agent. As Aziboala was testifing, the prosecutor Sylvanus Tahir raised an objection and asked the court to espounge all he said from its records. “My lord, the evidence of the defendant is off track and irrelevant on the basis of Section 1 of the Evidence Act”, Tahir stated. He said the charge which the defendant is facing was in relation to money laundering and has nothing to do with pro democracy activism and environmental crusade. Tahir insisted that none of the charge that the defendant is facing deals with extraneous matter such as the obnoxious aspects being delved into by the defendant.

Lagos Crippled byVested Interests, Says Agbaje Adedayo Akinwale in Abuja The Peoples Democratic Party (PDP) governorship candidate in Lagos State, Mr. Jimi Agbaje, has said that the state had been crippled by vested interests for about 20 years, vowing to take over the state in 2019. The governorship candidate, who made this disclosure yesterday in Abuja during his interaction with journalists at the party’s National Secretariat, stressed that the state had been under the grip of one or two persons. He said after the party national convention held in Port Harcourt, Rivers state, the party is now

ready for elections, while also congratulating the party and the members for coming out of the convention stronger. Agbaje stated: “This time around, we intend to take over Lagos State in 2019. The campaign for Lagos is set for us. It is clear to us in Lagos that what Lagosians are looking from us, is freedom from the vested interests that have gripped Lagos for nearly 20 years. We have a situation where it had been under the grip of one or two persons and we are tired of that. “We believe Lagos is doing well compared to other states, but it can do much better than what is doing now; but it is being crippled by vested interests.’’

The governorship hopeful added, “We have been doing our light rail now for about 12 years, other cities and countries that started with us have finished their own. These are some of the issues of vested interests. But we are saying Lagos must have light rail. How are we going to empower the youths? What kind of education is being given to the people? We have to address those basic issues in terms of our youths. “That is what the campaign is set against. Free Lagos campaign is a campaign that Lagos can be better and that the alternative can be a lot better than it is today. “The structure is being put in

place and I am sure that at the end of the month, it is going to be victory for PDP in Lagos and at the centre and in most of the states that we lost.” Agbaje further explained, “There is a lot of confidence and don’t forget in 2015, irrespective of what happened, that base we had in 2015 still remain intact. Those that voted for us are still there for us. The strategy is to expand that base in a way that we have every assurance that we are taking Lagos.” On the former Lagos PDP state chairman that left, Agbaje said he left on his own and that his departure had no negative impact on the party in the state.

48

T H I S D AY ˾ ͯ͵˜ ͰͮͯͶ

WEDNESDAY OCTOBER 17, 2018 ˾ T H I S D AY

49

NEWSEXTRA

Amosun Dismisses Defection Rumours, Pledges Support for Buhari Femi Ogbonnikan In Abeokuta Ogun State Governor, Senator Ibikunle Amosun, has dismissed the rumours that he plans to defect from the ruling All Progressives Congress (APC) to another party owing to recent disagreement over the conduct of the party’s primary elections in the state. The governor, through

the State Commissioner for Information and Strategy, Dayo Adeneye, yesterday, described the reports in a segment of the media as a figment of imagination of the writers. Amosun wondered how he could be expected to quit a house he jointly built with other patriots. Said Adeneye: “It is true that enormous pressure was brought to bear on

Governor Amosun to move to another party, because of the glaring injustice meted out to some party members at the recent primaries, but the governor maintained his stand that he would not

defect, especially on account of the close relationship with President Muhammadu Buhari, whose judgment and sense of justice as the leader of the party, he cherishes and values immensely,” the

statement said. He further stated that, “for those who know Amosun over the years, his struggles are usually not about his own person but equity, justice and fairness for all,

especially the downtrodden. President Buhari represents this spirit and Amosun will stand by him and with him in any party at all times and at all costs,” he concluded.

Despite Blackmail, My Blood Pressure Normal, Says Ganduje Ibrahim Shuaibu in Kano Despite recent political crises in Kano State, medical personnel at Shiekh Jidda General Hospital in Kano city yesterday certified Governor Abdullahi Umar Ganduje’s blood pressure as within normal range. Ganduje, 69 years old, was at the hospital to commission Dr. Bello Umar Dikko Accident and Emergency ward, constructed by the state government. Following blood pressure check conducted on him by a nurse in the hospital, the governor’s blood pressure was found to be 120/80mmHg, which is medically accepted as within normal range. Taking swipe at political antagonists aiming to smear his image lately, the governor said: “This shows that the blackmail is not effective, it has failed, it is a deception and it is fictions”. He said the Accident and Emergency Ward was constructed and fully equipped to further standardise operations at the hospital, which is the first public health facility in the state. The governor enjoined the management of the hospital to ensure efficient management of the new 20 – bed ward so that the teeming population within its catchment area can take maximum

advantage of its services. Ganduje praised the former Speaker of the state House of Assembly, Yusuf Abdullahi Ata, who facilitated the project, under the State legislature constituency project scheme. In a related development, Ganduje commissioned an 80-cubic meter Walk In Coldroom constructed at Muhammad Abdullahi Wase General Hospital in the state , at the cost of N50 million. “This is a storage facility for all our vaccines. It will go a long way in improving Routine Immunization activities in Kano”, he asserted. “I was in charge of fighting Polio for seven years and arising from our programmes, projects and the tripartite arrangement we had with development partners, our state has been Polio free for almost four years now”, the governor added. Meanwhile, the governor walked for nearly two kilometres, amid rousing cheers, to inspect the ongoing construction of the Murtala Muhammad Flyover in Sabon Gari area of the state capital and assessed ongoing work at the multi level Dangi flyover, as well as the State Skills acquisition centre in the outskirts of Kano City.

GOtv Max Adds 2 New Channels Two new channels have been added on GOtv Max, offering more sporting action and entertainment to subscribers. The new channels are the football-focused SuperSport Select 5 and popular international urban lifestyle channel, BET, which will come on stream on Thursday, 18 October “GOtv is committed to delivering entertainment for the whole family to enjoy. With the onboarding of these two new channels on GOtv Max, we are confident that members of the family have an extended variety of African and International content to view. This is especially a significant time as families will be coming together for the upcoming festive season” says Martin Mabutho, Chief Customer Officer, MultiChoice Nigeria. Football fans will have more matches to view with SuperSport Select 5, which will be the new home of Serie A on channel 36. Fans can watch big clashes featuring big names such as Juventus, Roma, AC Milan and more on the channel dedicated to the biggest

and best from the Italian Serie A. Viewers will also get the chance to see selected UEFA Champions League matches and highlights on the channel. BET is the place to be for the latest international and local urban celebrity, music and fashion news. For roundthe-clock entertainment like the controversial Wendy Williams Show and the popular Tales produced by the legendary Hip Hop executive, Irv Gotti, customers can tune into channel 1 on Thursday. From Thursday, 1 November, BET will have a permanent home on channel 21. This month, Saturday nights are heating things up on BET with the hottest action movies featuring the biggest stars and the BET Hip Hop Awards, widely considered to be the biggest Awards show honouring the genre. GOtv Plus customers can sample the bigger and better Max package from 19-26 October at no extra cost to get a taste of these new channels.

PVC COLLECTION SENSITISATION...

Governor Ifeanyi Ugwuanyi of Enugu State (right) acknowledging cheers from his supporters during the Permanent Voters Card (PVC) collection sensitisation programme organised by Voters’ Support Group (VSG), Enugu West senatorial district, held in Oji-River Local Government Area...yesterday.

Obaro Chieftaincy Crisis: Three Ruling Houses Urge Kogi Gov to Halt Coronation Public Complaint Commission receives 100 cases monthly in the state Yekini Jimoh in Lokoja As Kogi State Governor, Alhaji Yahaya Bello is set for the coronation of the new Obaro of Kabba, Chief Dele Owoniyi, the three ruling houses of the Ilajo Royal family have called on the governor to stop the planned coronation. This is coming as the Public Complaint Commission in the state has stated that it receives an average of about 100 complaints bordering on administrative injustices from members of the public in the state every month. Bello is expected to install the new Obaro of Kabba this coming weekend in Kabba. According to the three ruling houses the coronation of Owoniyi as the new Obaro of Kabba should be stopped to avoid break down of law and order. In a press statement made

available to journalists in Lokoja, the Kogi State capital yesterday, and signed by the heads of the three ruling houses of the Ilajo Royal family, the groups said the planned coronation and presentation of staff of office was a clear affront to the rule of law and a gross negation to natural justice as the case was still pending before a competent court of jurisdiction. The three heads of the ruling houses who jointly signed the press statement are Chief Stephen Ojo Bebeyi , Chief Paul Toluhi and Chief Mark Olowosayo for the Ajibohokun, Ajinuhi and Mokelu ruling houses, respectively . The statement urged the governor not to allow himself to be coerced into presenting the staff of office to Owoniyi when the court has not made final pronouncement over the case. The statement recalled that shortly after the announcement of

Owoniyi by the state government as the Obaro, the Ilajo Royal family vehemently rejected the choice and made this known to the government, which in turn turned a deaf ear to their grievance. Based on this, it said the Royal family had no alternative than to head to the court for redress which subsequently granted an order restraining the Chief from parading himself as the Obaro and the state government from taking further action on the case. The statement said at no time did the Ilajo Royal family withdrew from the pursuit of the case as being bandied around, stressing that the family was prepared to lawfully and peacefully pursue the case till logical conclusion. Meanwhile, the Public Complaint Commission has said that it receives an average of about 100 complaints bordering on administrative injustices from

members of the public in the state. The Commissioner of the Commission, Mr. Otitoju Oladiti made this known yesterday in Lokoja after a road walk to mark the 43rd anniversary of the commission. He noted that more people had been trooping out to lodge their complaints following the increased awareness and sensitization campaigns carried out across the state. He said most of the cases received bordered mainly on wrongful dismissal from service; non-payment of compensations for landed property; non-payment of salaries, pensions and other benefits to workers and pensioners, amongst others. Otitoju said that a number of the complaints had been resolved while others are still pending.

Minor Projects Making Major Impact in Akwa Ibom, Says Commissioner Akwa Ibom State Commissioner for Works, Mr. Ephraim InyangEyen, has said that the state governor, Udom Emmanuel, prefers to execute small projects that impact lives, instead of building gigantic structures that do not add value to the economy of the state. Inyang-Eyen made the assertion against the backdrop of insinuations that the governor was not executing gigantic projects

like his predecessor, Senator Godswill Akpabio. He said the administration was determined to ensure that it does not embark on projects that might be abandoned eventually. “Governor Emmanuel is dealing with things that impact lives rather than building gigantic structures that can never come to fruition. He is focusing on small industries like the syringe factory, the flour mill, metering factory and rice mill”. He said.

Signature projects are important but unfortunately most of the signature projects started by the previous administration have been left uncompleted. Speaking on the initiation of signature projects, Inyang-Eyen said, “How has the signature projects impacted our lives or added value to our Internally Generated Revenue? What is the employment ratio of those signature projects? Is it the E-Library that is not functional,

the Tropicana, or the Uyo-Ikot Ekpene Road that are functional? We are still spending money to ensure the completion of the road”. Since Emmanuel Udom took the reigns as the Governor of Akwa Ibom, there have been a number of commendable projects he hasinitiated.Manyoftheseprojectshave boosted the economy of Akwa Ibom and have removed a large number of unemployed people from the streets, youths especially.

50

WEDNESDAY OCTOBER 17, 2018 ˾ T H I S D AY

NEWSEXTRA

Conduct Fresh Primaries or Refund Our Money, Aspirants Tell Bauchi APC Segun Awofadeji in Bauchi All Progressive Congress (APC) aspirants for Bauchi State House of Assembly seats under the aegis of the “Bauchi State Assembly Aspirants Forum” who lost in the recent party primaries in the

state have called on the national leadership of the party to conduct fresh primary election or refund them their expression of interest and nomination fees. Speaking with journalists yesterday, spokesperson of the forum Hon. Aishatu Haruna,

Umahi Gives Reasons for Criticising Obi’s Nomination as Atiku’s Running Mate Raheem Akingbolu with agency reports As stakeholders in Igbo nation continue to review the motive behind the protest championed by the Ebonyi State Governor, David Umahi, shortly after a former Governor of Anambra State, Peter Obi, was announced as the running mate to the Peoples Democratic Party presidential candidate, Atiku Abubakar, Governor Umahi has cleared the air, saying he was not against the choice of Obi but only frowned at the process, leading to his (Obi) selection. Umahi stated this in an interview with journalists in Abakaliki, the state capital. The governor faced a backlash when he led leaders of the party to complain against the selection process that threw up Mr Obi as vice presidential candidate of the party. Many accused him of sabotaging the interest of the Igbo nation. But, Mr Umahi while clearing the air, said he was only against the process and not the competence of Mr Obi. He questioned ”how people from other regions will meet and take decisions that concern the South-east without the input of a single person from the region. “We have never said that

we are against Peter Obi; but what we have said is that, if six people can come together from five other regions and look at recommendations for the Southeast and no South-east person is there, that is not good for us. “We have never said that Obi is not good for us, we have nothing against Obi. But we want when decisions that concern us are being taken, we want to be part of that decision,” Mr Umahi said. The governor also expressed displeasure at the ‘imbalance’ in the initial five-member shortlist of persons being considered for the VP slot which he said ”had no person from Imo and Ebonyi States on it.” “Number two, the five names submitted, of course, no governors in South-east wants to be vice president; everybody wants to finish his tenure. The five names for VP should have been five names from the five South-east states; but there was no name from Ebonyi and Imo states. “I am a fighter of marginalisation of Ebonyi people. If we are going to vote, we must be treated with equity. These are the issues; two names came from Anambra, one from Enugu and two from Abia. So, what is wrong in having someone from Ebonyi and then one from Imo?”

Judge withdraws from Suit on Ogun PDP Crisis Justice Chukwujekwu Aneke of the Federal High Court in Lagos has withdrawn from adjudicating on a suit involving two factions of the Peoples Democratic Party (PDP) in Ogun State. He recused himself after the defendants accused him of being biased. The suit, numbered FHC/L/ CS/1581/2018, was filed by Prince Segun Seriki, Chief Tuke Omotara, Hon. Nosiru Isiaka Giwa, Chief Remix Bakare, Apostle Abiodun Sanyaolu, Chief Kola Soriola and Chief Oyede Elijah through their lawyer Ajibola Oluyede. The Independent National Electoral Commission (INEC), PDP and its chairman Prince Uche Secondus, Senator Ibrahim Tsauri, Elder Yemi Akinwonmi, Sikirulai Ogundele, Bode Bankole, Waliu Oladipupo and Tunde Alekuwodo are the defendants. The plaintiffs, in their originating summons, prayed for an order replacing Akinwonmi with Seriki as the party’s Deputy National Chairman (South). They urged the court to compel PDP national leadership to recognise Chief Adebayo Dayo-led faction as the authentic Executive

Committee in Ogun State. But the defendants in their preliminary objection filed by through their lawyers led by Emeka Etiaba (SAN), urged the court to dismiss the suit for being incompetent and an abuse of court processes. The defence counsel asked Justice Aneke to withdraw from the suit for allegedly showing bias. But Oluyede urged the judge to not to withdraw from the case, saying: “I ask the court to discountenance the application particularly by Etiaba asking my Lord to recuse himself of this matter.” Ruling, Justice Aneke recused himself since, according to him, the defendants no longer had confidence in him. “The case file shall be remitted to the Chief Judge for reassignment,” the judge added. Before the court sat, Ogun State PDP Youth Leader, Segun Okeowo, led a protest, demanding that the judge withdrew from the case. In a petition to the Chief Judge, signed by de Waliu Oladipupo, the defendants said they no longer had confidence in Justice Aneke.

who contested from Zungur/ Galambi constituency, alleged that no election was conducted in the state. According to her, the party allegedly announced the names of its favorite aspirants as standard bearers of the party and submitted the list to INEC. According to her, “They sold forms to us, screened and cleared

us to run without telling us that we had any problems, but they didn’t provide fair playing ground to all aspirants during the primary election. In fact, no election had taken place, they only nominated candidates for the party “. “We therefore, appeal to the National headquarters of the party and President Buhari to wade into the matter with a view to

ensuring that justice is done to us. What we demand is that the election should be cancelled or else, the party should refund us the monies we spent”. She stated. The aspirant who revealed that the state Governor Mohammed Abubakar had after the outcome of the primary election promised to meet with aggrieved aspirants, noted that the governor did not

redeem his pledge but sent one of his advisers to talk to them. “Up to now, we were not told when the governor will sit with us. He should sit with all the aspirants concerned so we can tell him our grievances. If we don’t hear from him within the next few days, we will decide our next line of action,” she said.

FOOD SECURITY...

L-R: Head of Service, Lagos State, Mrs. Folashade Adesoye; Secretary to the Lagos State Government, Mr. Tunji Bello; State Commissioner for Agriculture, Hon. Oluwatoyin Suarau; General Manager, Refinery, Dangote Sugar Refinery Plc, Mr. Braimoh Ogunwale, at the closing ceremony of the Dangote Sugar Refinery -sponsored 2018 Lagos State World Food Day celebration, held in Lagos...yesterday

Ugwuanyi Inaugurates Committee on Enugu Airport Upgrade Governor Ifeanyi Ugwuanyi of Enugu State, in keeping with his administration’s commitment to facilitate the speedy upgrade of the Akanu Ibiam International Airport, Enugu, for safety and security of lives and property on Tuesday, inaugurated an action committee. Inaugurating the committee, Ugwuanyi, who was represented by his deputy, Mrs. Cecilia Ezeilo, stated that the committee’s terms of reference were to deal with all

issues relating to the encroachment of land around the Runway of the Airport; take all the necessary steps to ensure full safety operation in the Airport, and ensure the smooth relocation of all masts to a new site, which she noted has commenced for safety. Members of the newly inaugurated committee comprised, the Commissioner for Enugu State Capital Territory Development Authority (ECTDA), Mr. Chidi Aroh, who serves as Chairman;

the Commissioners for Lands and Urban Development , and Commerce and Industry; representative of ENPOWER Free Trade Zone; Assistant General Manager, Nigeria Export Processing Zones Authority (NEPZA); the General Manager, Land, Water Safety Inspector, Federal Airport Authority of Nigeria (FAAN). Others include the Aerodrome Safety Inspector, Nigeria Civil Aviation Authority (NCAA) Lagos Headquarters;

representative of Federal Minister of State for Aviation, and the Head of Legal, Enugu State Capital Territory Development Authority (ECTDA). In her address, the state’s deputy governor reiterated the premium Ugwuanyi’s administration places on safety of life, security and socio-economic growth of the state and the country at large, stressing that the governor has always taken measures to alleviate the suffering of the masses.

BUHARI GUARANTEES PERFORMANCE AS FAYEMI TAKES CHARGE IN EKITI PDP-led government of Governor Ayodele Fayose. He revealed that all the finances of the last administration shall be reviewed but not in a vindictive manner, saying this became imperative to ensure that the culture of prudence and financial propriety are brought to bear in governance of the state. Fayemi lamented that the state is indebted to the tune of N170 billion being loans taken to undertake some projects through the last administration, assuring that this challenge won’t impede his government from delivering dividends of democracy to the citizens. The former Minister stated that Ekiti under him won’t slide and degenerate to the level of allowing school children to pay various taxes in their quests to receive formal education. He promised that his government shall reinstate the N5,000 social security to the elderly and make tremendous positive impacts in the

areas of agriculture, social investment and economy. “In the last four years, Ekiti was governed by a rudderless, inept and egregiously corrupt government, which was led by those who deceived our people through the instrument of stomach infrastructure. “In this context, never again will Ekiti slip into the hands of those who knew nothing about governance, never again shall we allow our school children to pay taxes, never again shall we abandon the burgeoning resources at Ikogosi Warm Spring to waste, never again shall we allow our judiciary to be debased by draconian government and never again shall the most educated State like Ekiti be apostle of stomach infrastructure that has made us laughing stock . “In our quest for economic rejuvenation, our government shall invest heavily in youth in commercial Agriculture because Ekiti is basically agrarian, reactivate community based projects, tap into

our tourist potential and ensure security of local and foreign investors. “As of today, the debt profile and other financial commitment hanging on the state look challenging, but with your supports, we shall overcome. The light shall shine again. We shall celebrate our core values of scholarship, knowledge, hard work, unity and strong characters bequeathed to us by our founding fathers. “We appreciate our fathers who fought for the creation of this state in 1996 and I want to assure them that we shall keep the flag flying and make sure we don’t disappoint them by fulfilling their dreams and aspirations within the next four years. “We shall network with the federal government and other local and international bodies to bring dividends of democracy.” Meanwhile, Fayemi has announced his first set of appointments. In a statement released yesterday

evening, the new governor named Mr. Abiodun Oyebanji as Secretary to the State Government (SSG). The governor also named Mr Biodun Omoleye as Chief of Staff to the Governor, and Mr. Yinka Oyebode as Chief Press Secretary. Oyebanji, a former University lecturer, had previously served as Chief of Staff during the administration of Otunba Niyi Adebayo, and was Commissioner for Budget and Economic Planning during Fayemi’s first term. Omoleye, a former University administrator and former Chairman of Ijero Local Government, had also served as Special Adviser in the Governor’s Office. Oyebode, a seasoned journalist served as Chief Press Secretary to the Governor during Fayemi’s first term. He later served as Special Adviser on Media to him when he was Minister of Mines and Steel Development. The appointments are with immediate effect..

T H I S D AY ˾ WEDNESDAY OCTOBER 17, 2018

51

52

T H I S D AY ˾ ͯ͵˜ ͰͮͯͶ

T H I S D AY ˾ WEDNESDAY OCTOBER 17, 2018

53

55

ÍšÍżËœ ͺ͸͚΀ Ëž T H I S D AY

WEDNESDAYSPORTS

Madagascar QualiďŹ es for First ever AFCON Finals Egypt, Tunisia, others book tickets to Cameroon 2019 A goal from Thailand-based Njiva Rakotoharimalala yesterday qualified Madagascar for her first ever Africa Cup of Nations finals. The 26-year-old midfielder scored the only goal of the game just before half-time as the Malagasy beat visiting Equatorial Guinea. They became the first team to qualify for a place in the finals that have now been expanded from 16 teams to 24 for future tournaments. They were later joined by Egypt and Tunisia in qualifying for the finals in Cameroon next June and July. Madagascar’s win over Equatorial Guinea moved them to ten points in Group A with two matches left to play. The game was played in the city of Vontovorona after Madagascar was banned from using the Mahamasina Stadium in Antananarivo for “three matches or three monthsâ€?. The suspension was imposed by the Confederation of Africa Football following a stampede at the national stadium in September when one person was killed and nearly 40 others were injured. Madagascar becomes the 40th different nation to qualify for the Nations Cup finals. Egypt and Tunisia helped each other to qualify for next year’s expanded finals as they both won in Group J. First of all Egypt secured a 2-0 win over eSwatini (formerly Swaziland) thanks to a headed goal from Ahmed Hegazi after 19 minutes and well worked team goal that was finished by Marwan Mohsen early in the second half. The Pharaohs qualification was confirmed later on Tuesday as Tunisia maintained their 100 per cent winning record with a 2-1 win over Niger 2-1 in Niamey. Sfaxien’s Firas Chaouat scored two goals in a four-minute period in the first-half on his international debut for Tunisia. Niger Youssef Oumarou grabbed what turned out to be a consolation for the hosts. Tunisia top the pool with a maximum 12 points, Egypt

Will Agbaje Knock out Sanwo-Olu?

Malagasy players celebrating their historic qualiďŹ cation for the summit of African football for the ďŹ rst time

have nine points while Niger and eSwatini are now out of contention for the finals on a single point apiece. There were two drawn matches in Group B as Comoros grabbed a 2-2 against visiting Morocco and Malawi held Cameroon to a goalless draw in Blantyre. El Fardou Ben Mohamed, who plays for Serbian side Red Star Belgrade, opened the scoring after just eight minutes to give Comoros a shock lead. The Moroccans then fought back with two second-half goals from Khalid Boutaib and Nordin Amrabaat to take the lead. The hosts kept battling and Ben Mohamed was on target again in injury time at the end of the match to earn a point for Comoros. Group B after four matches: Cameroon 8 points (qualify as hosts) Morocco 7 points Malawi 4 points Comoros 2 points The results mean that Cameroon top the group with eight points, but they have qualified automatically as the Nations Cup hosts leaving just one more place up for grabs from the group. Morocco leads the way in the race to the finals on seven points, Malawi move to four points and Comoros are on two - with all the teams having played four matches.

Three teams remain in contention to qualify from Group C after Gabon beat hosts South Sudan 1-0 and Burundi held visiting Mali to a 1-1 draw. Midfielder Andre Biyogo Poko, who plays in Turkey for Goztepe, won the match for Gabon with a goal five minutes after half-time. Gabon played without Arsenal striker Pierre-Emerick Aubameyang after he did not travel with the team to Juba, no official reason has been given for his decision. Burundi took the lead in Bujumbura through striker Fiston Abdul Razak before Mamadou Fofana levelled the score for the visitors. Group C after four matches: Mali 8 points Gabon 7 points Burundi 6 points South Sudan 0 points (eliminated) Guinea and Ivory Coast remain the favourites to qualify from Group H despite both being held to away draws. Ivory Coast was held to a goalless draw in Bangui by Central African Republic while in Kigali it was 1-1 between Rwanda and Guinea. Guinea took the lead in the first-half by Jose Kante but Jacques Tuyisenge ensured the points were shared with a late equaliser. The Syli Nationale had to play the second-half without

Liverpool’s Naby Keita, who had to be helped from the pitch with an injury. Wins for both Guinea and Ivory Coast would have taken both teams through to next year’s finals. The results mean that Guinea top the group with 10 points, Ivory Coast have seven, CAR are on four and Rwanda bottom with a single point. Uganda took a big step towards qualifying for second successive Nations Cup as neighbours Tanzania kept their hopes alive in Group L. Croatia-based striker Farouk Miya scored both goals for Uganda as they beat hosts Lesotho 2-0. His first in Maseru came after just six minutes and he added a second from curling freekick ten minutes before half-time. Tanzania recovered from a missed penalty to record a 2-0 win over Cape Verde in Dar Es Salaam. Saimon Msuva tapped in from close range for the first with Mbwana Samatta, who plays in Belgium with Genk, added the second. The Uganda Cranes now lead the way with 10 points in the group, Tanzania move to five one ahead of Cape Verde with Lesotho bottom on two. There are two more qualifying rounds left to play one in November and the final matches will be in March next year.

Griezmann Double Give FranceVictory over Germany Antoine Griezmann scored twice last night as France came from behind to claim a second UEFA Nations League victory and continue Germany’s abysmal run in 2018. The visitors were eyeing just their second competitive win of the year when Toni Kroos scored from the penalty spot after Presnel Kimpembe had handled. But Griezmann levelled for the world champions with a superb looping header from Lucas Hernandez’s cross. He then scored the winner from the spot after a foul on Blaise Matuidi. Didier Deschamps’ side remain unbeaten in the Na-

U E F A N AT I O N S L E A G U E tions League and top Group A1 with seven points from their three games. They are now unbeaten in 14 fixtures, including the seven that culminated in them lifting the World Cup in Russia this summer. In contrast, Germany are in a rut unlike any they have previously experienced. The result in Paris means they have now suffered six defeats in a calendar year for the first time and, following

Saturday’s 3-0 humbling reversal in the Netherlands, have lost two consecutive competitive matches for the first time since 2000. It is sure to further increase the pressure on boss Joachim Low, who oversaw their group-stage exit at the World Cup and now faces the very real possibility of his country being relegated to League B of the Nations League. They are bottom of the group with just one point, having played a game more than the Netherlands. Low’s side were actually the better in Paris in the first half on Tuesday. Utilising the speed of the recalled Leroy Sane, they

counter-attacked superbly and deservedly led when Kimpembe blocked the Manchester City winger’s cross with his hand and Kroos converted the resulting penalty. But for Hugo Lloris the lead would have been bigger at the break, with the Tottenham keeper showing awareness and speed to dive in and palm the ball away from the feet of Timo Werner in the box and then keep out Matthias Ginter’s low drive. But Low’s side could not maintain their efforts, allowing France, and Griezmann in particular, to demonstrate the resilience and world-class attacking ability that served them so well in Russia.

Some four years ago I wrote about the anticipated gubernatorial fight between Jimmy Agbaje and Akinwunmi Ambode. Both of them were going to slug it out for the then soon to be vacant Lagos State crown. I predicted that based on what I saw when both candidates addressed us separately at the Nightshift Coliseum, it was going to be a very close fight which would eventually be won by Ambode. I predicted that his corner, which had Ahmed Bola Tinubu and Muhammadu Buhari, would win the fight for him. From what I saw at the Coliseum both of them were different in style. Ambode appeared like a plodder who is focused on his target. He is the type that would spend most of his time transmitting between the classroom and the library sometimes forgetting he has not eaten. He looked like a boxer who stalks his opponent till he is able to land the killer blow. He is detailed and deliberate. He is more like George Foreman. Agbaje on the other hand, appears like the perpetual hounder and shuffler (a la Muhammad Ali). He is one who knows a little of everything. He teases and taunts to provocation. The only problem he had was that the man in his corner was perhaps more a liability than an asset. Though he was the incumbent President, everyone or almost everyone was of the view that he has not done well. He brought some money no doubt but in Lagos it is not always only about money. Eventually Ambode won mainly because he had a good corner -Tinubu and Fashola provided all the funds while our Buhari provided the necessary goodwill. The rest like they say is history. Now, we have gone a full circle. It’s time again for another epic battle. The fight for the crown is manly between Jimmy Agbaje again, who, for the second consecutive time, would be seeking the Lagos title. His opponent is Jide Sanwo-Olu who is largely unknown and some disrespectful persons said the only qualification he has for the contest was his being a ‘Yes Boy, to Tinubu. And of course the die-hard fans of APC would also be total in their support. In other words what he lacked in experience is more than counter-balanced by the

support of an adulating base and a sagacious corner. Agbaje on the other hand is an exciting and quite experienced campaigner. Pulls quite a crowd in his own right. Respected and admired by a more urbane group in the Lagos polity. So far not much is known about those who will be in his corner. He is definitely not in big money. And so far has no known backer. This is why observers are in a quandary as to why the APC would want to change their prized fighter for a relatively inexperienced one. So what will happen in February? Would Sanwo-Olu be able to trounce Agbaje like his predecessor did? Or would the stupidity involved in unceremoniously dropping Ambode haunt the APC and make them lose the fight for Lagos? Would Agbaje’s personal charisma be enough to make him knock off an obviously ill-prepared challenger? Or would the irrepressible base of the APC together with the riches and sagacity of its manager be the deciding factor? If the contest were to take place today I would bet on Sanwo-Olu. In three months; I expect the odds to change with Agbaje’s base increasing in strength and his finances improved. Ironically, he lost the last time out when he contested on the bill of an incompetent and much vilified GEJ . Now, he would be contesting on the platform of Atiku’s party who most people expect to defeat a weakened Buhari. Would that help? Providing an answer would be possible only when the political salvos start getting fired. A wellrun campaign would be akin to doing adequate preparation for a boxing match. My take is that on their own personal merit SanwoOlu is no match for Agbaje. The fear in most circles is that he is the most vulnerable opponent APC can provide while Agbaje who came within whiskers of trouncing Ambode is the best the PDP can present. If you want a fight analogy I present the February 15, 1978 fight between champion Muhammad Ali and challenger Leon Spinks as one. With Agbaje being Spinks and Sanwo-Olu being Ali. The fight was tough but it was Spinks who got the decision over Ali. Would that happen in February 2019? Let’s ask Time.