THURSDAY 18TH OCTOBER 2018 by THISDAY Newspapers Ltd

Transcorp Group Announces New Executive, Non-executive Appointments Ugo Aliogo The Transnational Corporation of Nigeria Plc (Transcorp), Nigeria’s leading diversified listed conglomerate has announced new appointments to its board and executive management. A statement from the

corporation disclosed that Valentine Ozigbo has been appointed the President/CEO of Transcorp. His appointment becomes effective from January 1, 2019. He will succeed Mr. Adim Jibunoh, who is retiring on December 31, 2018. Ozigbo, currently the MD/

CEO of Transcorp Hotels Plc, owner of the prestigious Transcorp Hilton Abuja, will bring over 20 years’ experience in banking, business development, hospitality and corporate transformation. A multiple award winner, Ozigbo holds an M.Sc. Finance from Lancaster University, UK;

an MBA in Banking & Finance and a B.Sc. in Accounting from the University of Nigeria. He is a Fellow of the Institute of Chartered Accountants of Nigeria. Also, Owen Omogiafo, has been appointed MD/CEO of Continued on page 8

Omogiafo

Ozigbo

APC, PDP, Others Race to Beat INEC's Deadline … Page 8 Thursday 18 October, 2018 Vol 23. No 8583. Price: N250

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S’Court Orders FG to Adjust Oil Proceeds Sharing Formula When Price Exceeds $20 It’s victory for rule of law, says Dickson Alex Enumah in Abuja The Supreme Court in a landmark judgment yesterday ordered the federal government to adjust its share of proceeds from the sale of crude oil whenever the price

exceeds $20 per barrel. This, according to industry expert, means more money for the federation in its production sharing contract with its joint venture contract multinational oil companies partners, a development they

said would translate to extra funds for states, particularly the littoral states. The order, which was made in a ruling in a suit filed by the Attorneys-General of Rivers, Bayelsa and Akwa Ibom States, is a fall out

of the terms of settlement between the Attorney General of the Federation (AGF) and the plaintiffs. The seven-man panel of the Supreme Court, which included the Chief Justice of the Federation, Justice Walter

Onnoghen, in a unanimous ruling, ordered that the 13 per cent derivation that is due to the oil producing states be paid upon recovery, in accordance with Section 162 of the 1999 Constitution (as amended).

The plaintiffs, the Attorneys-General of Akwa Ibom State, Mr Uwemedimo Nwoko; Bayelsa State, Mr. Wodu Kemasukde; and the Rivers State, Emmanuel Continued on page 9

Senate Approves $2.786bn Eurobond to Finance 2018 Budget Upper chamber condemns excessive bank charges Deji Elumoye and Omololu Ogunmade in Abuja The Senate yesterday approved the issuance of $2.786 billion from the International Capital Market to part finance the 2018 budget. The Senate also approved the issuance of $82.54 million to refinance the balance of $500 million matured Eurobond in the International Capital Market. This is sequel to the

presentation at plenary of the report on the implementation of the new external capital raising of $2.786 billion from the International Capital Market approved in the 2018 Act by the Chairman of the Senate Committee on Local and Foreign Debts, Senator Shehu Sani. In his five-page presentation, Sani said the committee emphasised the urgent need Continued on page 8

Atiku Promises Women, Youth 40% of Cabinet Positions … Page 9

HEART OF THE MATTER… L-R: Chief of Staﬀ to the President, Alhaji Abba Kyari; Minister of Power, Works and Housing, Mr. Babatunde Fashola; and Minister of Communications, Mr. Adebayo Shittu, during the Federal Executive Council (FEC) meeting at the Presidential Villa, Abuja ...yesterday GODWIN OMOIGUI

T H I S D AY Ëž ÍŻÍśËœ Í°ÍŽÍŻÍś

GUARANTY TRUST BANK PLC STATEMENT TO THE NIGERIAN STOCK EXCHANGE AND THE SHAREHOLDERS ON THE EXTRACT OF UNAUDITED IFRS RESULTS FOR THE PERIOD ENDED 30 SEPTEMBER 2018 The Board of Directors of Guaranty Trust Bank Plc is pleased to announce the Groupâ€™s unaudited results for the period ended 30 September 2018. Statements of Financial Position as at 30 September 2018

Group Sep-2018

Group Dec-2017

Parent Sep-2018

Parent Dec-2017

Nâ€™million

Restated

Income Statements for the period ended 30 September 2018

ASSETS Cash and bank balances Financial assets held for trading Derivative financial assets

827,278

641,974

631,296

455,296

18,302

23,946

8,913

16,652

2,328

2,839

2,328

2,839

â€“ Fair value through other comprehensive income â€“ Available for sale â€“ Held at amortised cost â€“ Held to maturity Assets pledged as collateral Loans and advances to banks Loans and advances to customers Restricted deposits and other assets Investment in subsidiaries Property and equipment Intangible assets Deferred tax assets

Assets classified as held for sale and discontinued operations

498,840

422,267

517,493

453,090

118,710

2,081

96,467

2,007

60,883

58,976

60,883

58,962

258

750

1,270,093

1,448,533

1,081,666

1,265,972

511,056

444,947

481,525

433,529

46,715

46,207

109,027

98,670

94,077

84,980

16,021

14,835

5,199

4,501

401

1,667

3,433,197

3,351,097

2,836,993

2,824,078

200,840

216,458 (48,289)

Net interest income

170,642

189,566

145,493

168,169

(1,737)

(8,357)

(2,042)

(8,402) 159,767

Net interest income after loan impairment charges

168,905

181,209

143,451

Fee and commission income

40,348

33,772

28,449

24,101

Fee and commission expense

(2,508)

(1,700)

(1,585)

(1,049)

Net fee and commission income

37,840

32,072

26,864

23,052

Net gains on financial instruments classified as held for trading

20,066

9,939

14,229

5,796

Other income

39,311

17,933

37,978

20,775

Net impairment on other financial assets Personnel expenses Operating lease expenses

(1,450)

(479)

(495)

(10,369)

(9,742)

Other operating expenses

(58,939)

(53,022)

(48,329)

(42,041)

/QNĂ†SĂ„ADENQDĂ„HMBNLDĂ„S@W

164,246

150,033

144,706

139,182

Income tax expense

(22,022)

(24,455)

(16,260)

(20,877)

/QNĂ†SĂ„ENQĂ„SGDĂ„ODQHNC

142,224

125,578

128,446

118,305

141,456

124,745

128,446

118,305

768

833

142,224

125,578

128,446

118,305

Group Sep-2018

Group Sep-2017

Parent Sep-2018

118,305

N'million

142,224

125,578

128,446

118,305

(265)

649

(265)

649

(195)

2,238,928

2,062,048

1,835,785

1,697,561

24,795

2,647

24,795

2,647

2,272

2,607

2,272

2,607

204,088

218,349

179,072

197,252

Current income tax liabilities

16,923

24,147

15,341

24,010

Deferred tax liabilities

15,998

18,076

8,999

12,815

/QNĂ†SĂ„ENQĂ„SGDĂ„ODQHNC

Debt securities issued

100,440

92,132

100,440

92,132

Other comprehensive income not to be QDBK@RRHĂ†DCĂ„SNĂ„OQNĂ†SĂ„NQĂ„KNRRĂ„HMĂ„RTARDPTDMSĂ„XD@QR

Liabilities classified as held for sale and discontinued operations TOTAL LIABILITIES

198,932

220,492

190,889

210,671

2,725,929

2,357,624

2,239,737

925

848

2,898,901

2,725,929

2,358,549

2,240,585

CAPITAL AND RESERVES Share capital

(758) (17,172)

(11,261)

85,431

2,898,901

(18,639)

(2,291)

96,525

TOTAL LIABILITIES

(758) (24,629)

(12,474)

851

Other borrowed funds

(51) (28,121)

Depreciation and amortization

2,824,929

Other liabilities

Nâ€™million

(55,347)

928

Derivative financial liabilities

Nâ€™million

248,270

2,837,921

Financial liabilities held for trading

Nâ€™million

(58,704)

Deposits from customers

N'million 237,545

3,351,097

Deposits from banks

Parent Sep-2017

(66,903)

LIABILITIES

Parent Sep-2018

Interest income

3,433,197

TOTAL ASSETS

Group Sep-2017

Interest expense

Loan impairment charges

Investment securities:

Restated

Group Sep-2018

/QNĂ†SĂ„@SSQHATS@AKDĂ„SN Equity holders of the parent entity Non-controlling interests

Statements of other comprehensive income for the period ended 30 September 2018

Net change in fair value of equity investments FVOCI Income tax relating to net change in fair value of equity investments FVOCI Remeasurements of post-employment benefit obligations Income tax relating to remeasurements of postemployment benefit obligations

14,716

Share premium

123,471

Treasury shares

(5,291)

Retained earnings

85,342

128,385

59,527

115,362

4,076

(60)

Other components of equity

303,671

352,404

281,658

330,795

Capital and reserves attributable to equity holders of the parent entity

- Income tax relating to Foreign currency translation differences for foreign operations

(1,223)

521,909

613,685

479,372

584,344

- Net change in fair value of financial assets FVOCI

(6,640)

(7,281)

- Income tax relating to net change in fair value of financial assets FVOCI

1,915

2,106

- Net change in fair value of available for sale financial assets

3,254

2,539

- Income tax relating to net change in fair value of available for sale financial assets

(1,025)

(810)

Non-controlling interests in equity TOTAL EQUITY TOTAL EQUITY AND LIABILITIES

12,387

11,483

534,296

625,168

479,372

584,344

3,433,197

3,351,097

2,837,921

2,824,929

The Group expects that barring unforeseen circumstances, the trend of the above results should be maintained for the rest of the year.

//1.5$#Ă„!8Ă„3'$Ă„!. 1#Ă„.%Ă„#(1$"3.12Ă„.-Ă„ Ă„."3.!$1Ă„

.SGDQĂ„BNLOQDGDMRHUDĂ„HMBNLDĂ„SNĂ„ADĂ„QDBK@RRHĂ†DCĂ„ SNĂ„OQNĂ†SĂ„NQĂ„KNRRĂ„HMĂ„RTARDPTDMSĂ„XD@QR - Foreign currency translation differences for foreign operations

Other comprehensive income for the period, MDSĂ„NEĂ„S@W Total comprehensive income for the period A.I Adeniyi

(Chief Financial Officer)

FRC/2013/ICAN/00000004318

Equity holders of the parent entity

Total comprehensive income for the period

(Executive Director)

FRC/2017/CIBN/00000016515

2,183 120,488

138,755

127,060

123,124

120,488

1,450

1,159

140,205

128,219

123,124

120,488

â€“ Basic

5.03

4.44

4.36

4.02

â€“ Diluted

5.03

4.44

4.36

4.02

337,270

309,914

281,496

267,130

Sep-2018

Dec-2017

Sep-2018

Dec-2017

Total impaired Loans and Advances (N'million)

77,487

116,198

69,217

102,750

Total impaired Loans and Advances to Loans and Advances (%)

5.57%

7.66%

5.81%

7.75%

J.K Agbaje

(Group Managing Director and Chief Executive)

(5,322) 123,124

$@QMHMFRĂ„ODQĂ„RG@QDĂ„ENQĂ„SGDĂ„OQNĂ†SĂ„@SSQHATS@AKDĂ„SNĂ„ the equity holders of the parent entity during SGDĂ„ODQHNCĂ„ DWOQDRRDCĂ„HMĂ„M@HQ@Ă„ODQĂ„RG@QD

Gross Earnings

FRC/2013/CIBN/00000001782

2,641 128,219

/QNĂ†SĂ„@SSQHATS@AKDĂ„SN

Non-controlling interests

H.H Musa

(2,019) 140,205

The above statements of financial position, income statements and statements of comprehensive income are published in accordance with the requirements of Rule 41 of Securities and Exchange Commission (SEC), Rules and Regulations 2011. For a better understanding of the financial position of the bank and its results of operation for the period, the above financial information should be read in conjunction with the Condensed unaudited interim financial statements of the Bank.

T H I S D AY Ë¾ THURSDAY OCTOBER 18, 2018

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THURSDAY, ͹΀˜ ͺ͸͹΀ ˾ T H I S D AY

PAGE EIGHT

APC,PDP,OthersRacetoBeatINEC‘sDeadline Submission of presidential, N’Assembly candidates’ lists ends today INEC: Only 17 parties have submitted their list

Onyebuchi Ezigbo and Adedayo Akinwale in Abuja and Omon-Julius Onabu in Asaba Smarting from post-primaries crisis, many parties, particularly the big two, the All Progressives Congress (APC) and the Peoples Democratic Party (PDP), were yesterday still embroiled internal squabbles that had delayed the submission of the list of their candidates for the presidential and National Assembly elections holding in the first quarter of next year. As the deadline for the submission of the list of candidates for the federal election expires today, only 17 of the 91 political parties had filed their flag bearers applications, the Independent Electoral Commission (INEC) said yesterday. Its National Chairman, Prof. Mahmood Yakubu, who gave an update on the process, said the parties still had up to 12 midnight today to file their

applications. Saying the commission was committed to enduring progressive improvement in the electoral process, he said the registered number of voters would by 2019 be a little above 80 million, adding that about 20 million PVCs were yet to be collected. He said, however, that collection of PVCs will continue till one week to the general elections. The INEC chairman said he hoped the electoral legal framework would be passed by the end of the week and that the bill would probably be transmitted for assent by the president. But he promised that INEC was working in advance to put things in place based on the provision on the draft. On funding, Yakubu said there was no discrepancy between the amount submitted by INEC and the submission from the executive to National Assembly, adding that N189. 2 billion was submitted but

N189 billion approved. Also speaking on the submission of list of candidates for the election, the INEC chairman expressed concern that majority of the political parties, including the leading parties were yet to submit a list to the commission as at Wednesday. He explained that only eight political parties were able to submit its list of candidates for the 2019 elections as at Tuesday. But by last night, 17 political parties yesterday had submitted the lists of their sponsored candidates for the Presidential and National Assembly to INEC ahead of the 2019 general elections, as submission ends today. The electoral body had on several occasions insisted that there won't be extension of dates for the submission of list of candidates by political parties. “The last day for the submission of lists of their sponsored candidates

(Form CFOO2) and personal particulars (Form CF001) remains 18th of October 2018 for Presidential and National Assembly, and 2nd of November for Governorship and State Houses of Assembly,” it said. As at 8:45p.m yesterday, staff of INEC were still very busy attending to the political parties who were there to submit the lists of their candidates. However, the major political parties like the ruling All Progressives Congress (APC), Peoples Democratic Party (PDP), Social Democratic Party (SDP) and African Democratic Congress (ADC) will all submit the list of their sponsored candidates today. The political parties that submitted the lists of their candidates as at the time of filing this report include; All Progressives Grand Alliance (APGA), Accord Party, Campaign for Change (CC), Labour Party (LP), United Peoples Party (UPP), Liberation

Movement (LM), Justice Must Prevail Party (JMPP), Kowa Party. Others include; Fresh Democratic Party (FDP), Peoples Democratic Congress (PDC),UP, GNPP, ACD, SNC, MDP.

APC NWC Meets over Appeals Committee Report The National Working Committee of the APC met last night to consider the final list of candidates for the 2019 general elections. The party leadership considered the report of the five-member Primary Election Appeal Panel headed by former Edo State governor, Prof. Oserheimen Osunbor. There had been disputes arising from the APC primary elections with aggrieved aspirants inundating the party national secretariat with petitions. THISDAY, however,

gathered that the appeal panel, which was set up after the expiration of the deadline for primaries found its hands tied and could not cancel any of the primary election result. An APC source said rather the party had asked the appeal panel to recommend palliative measures that would assuage the grievances of the aggrieved aspirants. THISDAY learnt that based on the recommendations of the appeal committee, the NWC may be compelled to substitute candidates where necessary. The NWC meeting is to approve names of party candidates for onwards submission to INEC today (Thursday). Meanwhile APC has inaugurated the North East Zonal Executives Committee members elected during last National Convention. Those inaugurated include, Alhaji Kashim Haruna, Zonal Continued on page 9

TRANSCORP GROUP ANNOUNCES NEW EXECUTIVE, NON-EXECUTIVE APPOINTMENTS Transcorp Hotels Plc. Similarly, Omogiafo’s appointment becomes effective from January 1, 2019. She is currently the Executive Director, Corporate Services at Transnational Corporation of Nigeria Plc. She has over 18 years’ corporate experience in organisational development strategy, human capital management, banking, change and business management. She holds a B.Sc. in Sociology & Anthropology from the University of Benin and M.Sc. in Human Resource Management from the London School of Economics and Political Science. Omogiafo, is a member of the Chartered Institute of Personnel and Development (CIPD), UK and a Certified Change Manager with the Prosci Institute, USA. In the same vein, the Board of Transcorp also approved the appointment of Ms. Obi Ibekwe and Mrs. Toyin F. Sanni as Nonexecutive Directors, following the retirement of Mr. Kayode Fasola and Alhaji Abdulqadir Jeli Bello. But these appointments

would become effective from October 30, 2018. Sanni was Group Chief Executive Officer at United Capital Plc, a position she retired from in June 2018. She has over 25 years of experience in investor services, law and finance. She holds a Bachelor of Law degree from the University of Ife, an LLM from the University of Lagos as well as a professional qualification of the I.C.S.A. UK and the Chartered Institute of Stockbrokers (C.I.S) Nigeria. On the other hand, Ibekwe was an Executive Director at United Bank for Africa Plc, a position she retired from in May 2016. She holds a Bachelor of Arts degree in International Relations from Tufts University, Medford, Massachusetts, U.S.A., a Bachelor of Law degree from the University of Lagos and an MBA degree from the Ross School of Business, University of Michigan, U.S.A. She has over two decades experience in banking, holding senior executive and senior management positions spanning

credit and marketing, credit risk management, human resources and customer service. Transcorp Hotels Plc also announced the appointment of Emmanuel Nnorom as the Chairman of its Board, following the retirement of Alhaji Abdulqadir Bello. Nnorom is the Group Chief Executive Officer of Heirs Holdings, after retiring as the President/CEO of Transcorp. He brings over three decades of professional experience in the corporate and financial sectors, working with publicly listed companies. He is an alumnus of Oxford University's Templeton College, and a prize winner and Fellow of the Institute of Chartered Accountants of Nigeria. Speaking on the appointments, the Chairman, Transcorp Mr. Tony Elumelu, expressed confidence that the newly appointed chief executives and non-executive directors would further strengthen Transcorp’s core purpose of improving lives across Nigeria. He added, “We are pleased

Sanni to have the diversity, depth and quality of experience that these directors bring to our group. The executive appointments are a testament to our internal succession capacity and the appointees will build on the achievement of their predecessors. “By these appointments, we have further deepened our corporate governance capabilities, and firmed up our leadership position in the sectors we invest in.” Elumelu also commended the retiring directors for their meritorious service to the Group over the years.

Ibekwe He said the Board of Transcorp would continue to implement its defined strategy, which has led its investee companies being leaders in their industries and to take the Group to the next level. Transcorp is a publicly quoted conglomerate with a diversified shareholder base of over 300,000 investors. Its portfolio comprises strategic investments in the power, hospitality, agribusiness and oil and gas sectors. Other businesses include Transcorp Hilton Hotel, Abuja; Transcorp Hotels Calabar; Transcorp Power Limited and

Nnorom Transcorp Energy Limited. Transcorp Hotels Plc is the hospitality subsidiary of Transnational Corporation of Nigeria Plc. The company owns and operates the multiple awardwinning Transcorp Hilton Abuja, which provides luxury accommodation, world-class cuisines, conferencing and leisure facilities to business travellers and tourists from all over the world. The company also holds 100 per cent interest in Transcorp Hotels Calabar Limited, which owns and operates the Transcorp Hotel in Calabar.

SENATE APPROVES $2.786BN EUROBOND TO FINANCE 2018 BUDGET by the federal government to reduce its request for more external borrowing and source for other means of generating revenue internally. The need for government to step up internal revenue generation, according to Senate resolution on the issue as read out by Senate President, Dr Bukola Saraki, was informed by the need to avoid a cleverly managed reconquest of our country through a debtoverhang. The Senate also observed that the issuance of the bonds will contribute to the implementation of the Debt Management Strategy, which seeks to reduce the cost of borrowing, lengthen the maturity of the public debt stock, free up space in the domestic market for other borrowers and will help to increase Nigeria's external reserves. Said the committee, "We also

belief that the external capital raising of $2.786 billion will result in a portfolio mix of Domestic Debt – 68 per cent and External Debt- 32 per cent, which is an improvement over the ratio of 70:30 as at June 30, 2018. This brings the debts portfolio mix closer to the target of 60:40." The upper legislative chamber also emphasised that the issuance of the Eurobond is for the part financing of the 2018 budget with particular interest to finance key infrastructure projects in the 2018 budget. The Senate also yesterday urged the Central Bank of Nigeria (CBN) to suspend the Automatic Teller Machine (ATM) card maintenance charges being deducted from customers account. This resolution followed a motion on the illicit and excessive bank charges on customers’ accounts, sponsored

by Senator Olugbenga Ashafa. The Senate also called on commercial banks operating in the country to configure their machines to dispense up to N40,000 per withdrawal pending the outcome of the investigation by the Senate committees tasked with investigating the excessive and illicit bank charges. Other senators who contributed to the debate, called on banks to review their charges. On his part, Senator Emmanuel Bwacha said, “Banks declare profits and you wonder where these profits are coming from, it’s from the sweat of the common man. Let us come up with a law that puts banks on their toes. “It won’t be out of place to institute a committee that will call on the CBN to tell us what these charges are about. The Senate by fiat should abolish charges if they can’t

be verified,” said Senator Bala Ibn Na’Allah. Also contributing, Senator Kabiru Gaya declared, “The Senate must take a serious stand on this issue. Nigerians are really suffering. The banking system is not encouraging. I had an issue, took it to the bank and was refunded but how many Nigerians can do this? The issue needs to be addressed." The Senate further directed its Committees on Banking, Insurance and other Financial Institutions and Finance to conduct an investigation into the propriety of ATM card maintenance charges in comparison with international best practices and report back to the Senate. It directed the committees to invite the governor of the CBN to appear before it to explain why the official charges as approved by the CBN are skewed in favour

of the banking institutions as against the ordinary customers of the banks. The Senate also enjoined the Consumer Protection Council (CPC) to look into the various complaints of excessive and unnecessary charges by banks in the country. Saraki in his remarks said, “This is a motion that affects the lives of every Nigerian—irrespective of what part of the country you come from or whatever political affiliation you might have. This is why we are here - to always defend and protect the interests of our people.” According to him, the Senate must work to ensure that the Senate’s resolutions on the excessive bank charges goes beyond the debate stage, so that whatever action the Upper Legislative Chamber takes, would come into effect. Continued on page 9

TOP GAINERS NGN NGN % 0.0.02 0.22 10 SUNUASSURE CONTINSURE 0.13 1.48 9.6 CUTIX 0.17 2.20 8.3 AFRIPRUD 0.20 4.20 5.0 WAPIC 0.02 0.43 4.8 TOP LOSERS NGN % PHARMDEKO 0.19 1.71 10.0 UACN 1.00 10.00 9.0 LAWUNION 0.04 0.47 7.8 NIGERINSURE 0.02 0.28 6.6 CAP PLC 30.95 2.05 6.2 HPE Nestle Nig Plc ₦1,400.00 Volume: 240.764million shares Value: N3.659billion Deals: 2,974 As at yesterday 17 /10/18 See details on Page 39

THURSDAY, ͹΀˜ ͺ͸͹΀ ˾ T H I S D AY

NEWS

Atiku Promises Women, Youth 40% of Cabinet Positions Adedayo Akinwale in Abuja The presidential candidate of the Peoples Democratic Party (PDP), Alhaji Atiku Abubakar, has promised to yield 40 per cent of his cabinet position to women and youths. Atiku, in a statement by his media office yesterday, said the policy document

that would guide his administration if elected president in 2019 was ready and contained a covenant to give women and youths a sense of belonging. The PDP candidate said if Nigeria was to reverse its unenviable status as the world headquarters of poverty, it must take concrete steps to

empower women and the youth in the country. According to him, “Nigeria under President Muhammadu Buhari is now the world HQ for extreme poverty. If we are to change that, we must empower women and youths. “Therefore, I give an undertaking that if by the

grace of God, I am elected by you the good people of Nigeria, at least 40% of my cabinet would be women & youths.” Atiku said his policy document would soon be released to the public, saying he was not new to innovative governance having been a vice president of the Federal

Republic between 1999 and 2007. He said, “During my time in government, we designed our policies to help young people grow – stronger banks, telecoms etc. Many returned to Nigeria to start successful businesses. “Today, those young people are leaving again, to Canada

etc. We are losing our best doctors and professionals. “Our policy document which is ready and will be unveiled soon, is dedicated primarily to creating an enabling environment for Nigerian youth and women to return to the path of wealth creation and gainful employment.”

S’COURT ORDERS FG TO ADJUST OIL PROCEEDS SHARING FORMULA WHEN PRICE EXCEEDS $20 Aguma (SAN), now deceased, had in November 2017 approached the court for interpretation of Section 16(1) of the Deep Offshore and Inland Basin Production Sharing Contract Act in suit number SC964/2016 filed on their behalf by Mr. Lucius Nwosu (SAN). The section requires the federal government to adjust the shares of the revenue accruable to the federation whenever the price of crude oil exceeds $20 per barrel. The plaintiffs asked the court to determine whether there is a statutory obligation imposed on the federal government pursuant to the section to adjust the share of the federal government in the additional revenue accruing under the various productions at any time the price of crude oil exceeds $20 per barrel. The states also urged the court to declare that failure of the federal government to accordingly adjust the share of the government of the federation is a breach of the law. However, the apex court in its ruling read by Justice John

Inyang Okoro adopted the terms of amicable settlement between the AGF, and the Attorneys-General of Rivers, Bayelsa and Akwa Ibom States as its judgment in the matter. According to the terms of settlement signed by the three states and the AGF, the cost of recovery shall be netted off and payable from the gross recovered sum from time to time, prior to placement of net recoveries in the Federation Account. Also, the solicitors of the three states or their nominee professional advisers shall be members of the recovery body and necessary recovery mechanism. While lead counsel, Nwosu, witnessed the signing on behalf of the plaintiffs, while the Solicitor General of the Federation and Permanent Secretary, Federal Ministry of Justice, Mr. Dayo Apata, witnessed for the AGF. Meanwhile, the court has ordered counsel to the Lagos Chamber of Commerce, Mr. Babatunde Fagbohun (SAN), to pay N2million to each plaintiff as penalty for filing a frivolous application in the

matter. Fagbohun had through an application as intervener applicant urged the court to dismiss the matter in the interest of the public. He had argued that the reliefs sought by the three oil producing states would affect the entire business environment in the country. However, the apex court justices unanimously disagreed with him on the grounds that the Lagos Chamber of Commerce, which he represented, had no locus standi to introduce a matter before the apex court. “You cannot invite yourself as an amicus curie, and if the court did not see the need to have an amicus curie, you cannot impose yourself on the court,” the apex court held. The court also ruled that intervener applicants’ motion had been over taken by events, as the court had already assumed jurisdiction on the matter. The court further held, “The Intervener Applicant is not one of the parties that can invoke jurisdiction of the court. This application lacks merit and is hereby

dismissed. “The terms of settlement entered into by the parties be and is hereby made the judgment of this court. The intervener applicant shall pay a cost of N2 million to each counsel and the cost shall be borne personally by counsel to the intervener.”

It’s Victory for Rule of Law, Says Dickson Reacting to the judgment, the Governor of Bayelsa State, Mr. Seriake Dickson, described it as a victory for the littoral states, indeed the Nigerian federation and the rule of law. A statement by his Adviser on Media Relations, Mr. Fidelis Soriwei, said even before the first offshore swamp oil well was discovered under the particular Act by the Nigeria AGIP Energy, the price of crude oil had exceeded $20 per barrel being used as a benchmark to share oil revenues in the state. He stressed that in spite of the express agreement that shares from the oil revenue accruable to

the federal government should be adjusted, the benchmark being used by the multinational oil firms has been static at $20 per barrel to date. The governor, who spoke on behalf of his counterparts from Rivers and Akwa Ibom States, said the judgment demonstrated “the primacy of the law in the socioeconomic emancipation of the people of the Federal Republic of Nigeria through the instrumentality of the governments and people of Bayelsa, Akwa Ibom and Rivers States.” Dickson stated further that the implication of the judgment was increase in revenues accruable to the federating states under the extant revenue sharing formula. He commended the Supreme Court for demonstrating the courage to uphold the rule of law in landmark verdicts required to rekindle the confidence of the deprived people and communities of the Niger Delta and indeed the Nigerian federation. He said, “We commend the

Supreme Court of Nigeria for upholding the rule of law. The courageous intervention of the court in this case and other cases is what is needed to bring confidence to the long suffering people and communities of the Niger Delta and the country at large. “This judgment shows clearly that the judiciary is ready and has the courage in deciding cases to uphold the rights of oppressed people. We call on other courts in the judicial system to rise to the occasion in order to give the assurance that oil majors and oil block owners operating in our communities will respect the laws of the land.” The governor called on President Muhammadu Buhari to direct the relevant agencies to ensure expeditious implementation of the judgment in the interest of the government and citizens of the country. He assured the people of the Niger Delta and the Nigerian federation that the law could always be used to redress grievances rather than the recourse to self-help.

50 per cent," he said. She further disclosed that FEC approved $60 million yesterday for the implementation of various projects in nine states of the Niger Delta. "In addition to this approval of this Eurobond today, we also got approval for livelihood of family improvement project in Niger Delta. The project is called Life and D. It is in the sum of $60 million that will be a combination of loans

and grants. The projects will be implemented in the Niger Delta States of Abia, Akwa Ibom, Bayelsa, Cross River, Delta, Edo, Imo, Ondo and Rivers State. "However, when we reviewed the project in the nine states, we found that six of the states met their own requirements while three did not. So, the three will be assisted to enable them improve and join the team in 2019," she added.

SENATE APPROVES $2.786BN EUROBOND TO FINANCE 2018 BUDGET “This Senate has done this many times before; when there was a hike in the mobile telecommunication data charges, we intervened and put an end to that. When there were discrepancies and increases in electricity tariffs we also took action. We have done this on a number of similar cases. Therefore, on this, I want us to take effective resolutions,” Saraki further said. FEC Approves Issuance of $2.9bn Eurobond to Fund 2018 Budget Also at the Presidential Villa, the Federal Executive Council (FEC) yesterday approved the issuance of $2.9 billion Eurobond from the international capital market for the implementation of N849.67 billion external borrowing plan in the 2018 budget. Briefing journalists at the end of yesterday's weekly Federal Executive Council (FEC) meeting in the State House, the Minister of Finance, Mrs. Zainab Ahmed, said the bond would be used to implement capital projects in the 2018 budget. Furthermore, the minister said the council also approved a memorandum authorising the Ministry of Finance to raise another $82.54 million to make up for the shortfall of the $500 million Eurobond which matured in July this year. The minister also disclosed that in pursuit of the issuance of the Eurobond, the council approved another N374.6 million as legal fees for technical, financial and legal advisers that will be engaged

to handle the transactions on behalf of Nigeria. Ahmed said, "Today, in the Federal Executive Council, we got approval for the issuance of $2.9 billion and other securities in Eurobonds from the international capital market and the focus of this approval is to enable us implement the borrowing external plan of N849.67 billion equivalent of $2.786 billion which is provided for in the 2018 Appropriation Act and this is to fund capital projects in 2018 Budget. "We also as part of that, got approval to raise the sum of $82.54 million to bridge the shortfall of the 500million Eurobond that matured on the July 12, 2018. In addition to this approval for the issuance of Eurobond, we also got the approval for payment to transaction parties and their respective fees like settling bills and expenses. "We have as parties for the transactions, two joint league managers, a combination of Citibank group as well as Standard Chartered Bank as joint league managers and FSB Merchant Bank as financial advisers; the White and Case LIP as legal managers and Ighodalo as legal advisers for Nigeria. The total cost for this advisory group is N374.618,889." The minister who also disclosed that so far, N460 billion had so far been released for the implementation of capital projects in the 2018 budget, added that the president had also approved the payment of the last set of the next Paris Club refund to states.

The minister who did not state the amount of the Paris Club refund to be made, however, said the refund would not be automatic as the president gave conditions for payment of the refund to the states. According to her, the conditions given by the president included certified payment of salaries to workers in the states with the previous Paris Club refunds and convincing assurance from governors that this forthcoming refund will also be used for the payment of salaries. "Let me also move to the question that borders on capital releases. About two weeks ago, N460 billion was released for capital budget. "In respect of the Paris Club, Mr. President has given approval for the payment of the last Paris Club refund to the states but the approval came with some conditions which we are trying to work out together with the states to meet. "Those conditions that Mr. President gave are that we must show that the states have used the previous refund for payment of salaries and they will use this one also for payment of salaries. The states that were not paid were Akwa Ibom, Rivers and Imo State because they had some deficiencies and the agency that is handling it is working to bridge the gap," she said. The minister also disclosed the reason only N22.6 billion of the earlier approved N45 billion for the payment of gratuities to ex-staff of the Nigeria Airways, saying the

president approved only 50 percent of the total figure due to shortage of funds adding that the government hopes to pay the balance of 50 percent next year. "The approval given for payment of entitlements to the ex-staff of Nigeria Airways was N45 billion and because of paucity of funds, Mr. President gave approval for the payment of 50 per cent of N22.6 billion. We hope in 2019, to pay the balance of

APC, PDP, OTHERS RACE TO BEAT INEC DEADLINE Legal Adviser; Ms. Amina Manga, Zonal Woman Leader; Mr. Ilya Hamed, Zonal Publicity Secretary; and Mr. Mohammed Abba, Leader of the Special Persons.

Court Bars APC from Submitting Candidates’ List to INEC in Delta In a related development, the crisis rocking the Delta State chapter of the APC may have taken a turn for worse as a Federal High Court sitting in Asaba yesterday restrained the NWC of the party from submitting the state list of candidates from the recent series of primary elections for the 2019 election to INEC. The presiding judge, Justice Toyin Adegoke, in her ruling, ordered the NWC not to submit any list of candidates from Delta State from any of the two factions to INEC till the substantive suit filled is heard. The Chief Cyril Ogodo-led state executive had filed a suit asking the court to restrain

APC, its National Chairman, Mr. Adams Oshiomhole, and its agents from submitting the list of candidates from the Jones Erue faction to INEC. Nonetheless, Justice Adegoke said since preelection matters require accelerated hearing, the following orders have to be made: "This matter shall be given an accelerated hearing owing to the fact that it is a pre-election matter. All defendants are to take note of the tendencies of this suit." She further submitted, “Parties shall maintain status quo as at yesterday the 17th day of October 2018. That is the order of this court.” The court consequently ordered an accelerated hearing and gave two days to call in witnesses to deal with the case. Counsel to the applicants, Mr. O.J. Oghenejakpor, said the implication is that, as at today, no list of candidates has been submitted to INEC and none would be submitted until we hear this case. He said, "Technically,

the court has granted an injunction restraining any person to nominate any candidate from Delta State for the 2019 election. The issue will have to await the substantive trial, which is now fixed for November 1 and, 2018. "Court has also granted us an accelerated hearing so that the facts can be put to rest once and for all. It’s a healing process and I think if the National Executives could take opportunity of this process. This is what will bring the party together in Delta State." However, counsel to the first and second respondents, Mr. George Onaho, who challenged the jurisdiction of the court, said, "The court has done the needful and in the view of the court, our objection challenging the jurisdiction of the court has to wait and be adopted together with our final written address after the substantive suit must have been heard. So that necessitated the adjournment that was taken."

THURSDAY OCTOBER 18, 2018 ˾ T H I S D AY

NEWS

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

FG Approves ‘No Work, No Pay Rule’ for Workers, Sets Tenures for Unionists Nobody can deny workers’right to strike, NLC insists Governors meet over salary arrears, healthcare delivery Omololu Ogunmade and Onyebuchi Ezigbo in Abuja The federal government yesterday in Abuja took a major step towards halting incessant strike by members of the Nigeria Labour Congress (NLC), Trade Union Congress (TUC) and other labour bodies by resolving to henceforth apply ‘no work, no pay rule.’ However, in a swift reaction, the Nigeria Labour Congress (NLC) has said that no threat can stop workers from going on strike to protest unfair treatment. This is coming as the governors of the 36 states of the federation met yesterday night to deliberate on issues relating to disbursement of Paris Club refund for payment of salaries and the issue of primary healthcare delivery in the country. Briefing journalists at the end of the weekly Federal Executive Council (FEC) meeting in the State House, the Minister of Labour, Employment and Productivity,

Dr. Chris Ngige, said the decision was in compliance with Section 43 of Labour Act which he said the National Industrial Court (NIC) had earlier upheld. Ngige added that the decisions were contained in a draft White Paper submitted by a 10-man committee that he chaired which he said was constituted in 2017 to come up with a White Paper on an earlier technical committee report meant to stem the tide of industrial disputes. He said following the approval of the White Paper, the council ordered that the White Paper should be gazetted. According to him, whenever workers are on strike, they are not entitled to salaries as long as the industrial action lasts, recalling that the committee which recommended the implementation had been constituted by the federal government to put under control the degree of incessant industrial conflicts between the workforce

and the federal government or employers. He also said the White Paper as approved by the council in accordance with another subsection of the same Section 43 of Labour Act which prohibits locking out workers without following due process. The minister said following the approval, the federal government would take action against any employer who locks out his workers by ensuring that every due benefit for such workers during the period of the lock-out is paid to them. “These contentious areas are the enforcement of Section 43 of

the Trade Dispute Act Law of the Federation 2004. This is the section that deals with lock-out of workers by their employers without declaring redundancy appropriately because the same establishment, especially in the private sector, workers are locked out by their employers. “So the law that says if you lock out your workers without passing through the normal channel-due process for the period of the lock-out-the worker is assumed to be at work and will receive all remunerations and allowances and benefits accruing to him for the period and that period will also be counted to

him as a pensionable period in computation of his pension. “But when workers go on strike, the principle of ‘no work, no pay’ will also be applied because that principle is enshrined in that same Section 43 of the Labour Act. That section says for the period a worker withdraws his services, government or his employers are not entitled to pay and the period for which they were absent will not count as part of his pensionable period in the public service. “So the council accepted it as a White Paper recommendation that should be gazetted because even the National Industrial Court

has made pronouncement on that law clearly,” Ngige said. The minister also said the White Paper banned the idea of government employees leaving their primary jobs to serve full time in labour unions and remain there for life forgetting that they were first employed as public officers. According to him, the White Paper will checkmate this trend henceforth, ensuring that trade unions submit their constitutions to the government which he said must spell out term limits for labour leaders that must not exceed two terms.

Cont’d on pg 51

OPEC Exemption Grew Nigeria‘s FX Reserves by $20bn, Says Kachikwu Chineme Okafor in Abuja The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, yesterday disclosed that crude oil production exemption granted to Nigeria in 2016 by the Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC members led by the Russian Federation helped the country to raise her foreign exchange reserves to $45 billion from $25 billion. Kachikwu, stated this in a podcast that was released by his office in Abuja, in which he explained how his shuttle diplomacy across member countries of OPEC resulted in the famous production cap agreement that has helped shore up oil prices in the international market. According to him, Nigeria’s request for a production cap exemption during the negotiations ensured she was able to produce and sell more oil, which resulted in about $20 billion addition to her foreign exchange reserves. “We took over OPEC when prices were plummeting and countries were fighting over who would bring in barrels. It was a very tough time to lead OPEC and my job was stopping the attrition war and see how everybody could cooperate and help OPEC regain its credibility, relevance and premium pricing, and this resulted to the OPEC declaration,” Kachikwu said. He noted that Nigeria played very key roles in all the negotiation stages, as well as in leadership of subcommittees, and in crafting of the final agreements parties were then meant to sign. “But more importantly for us, was that we succeeded in negotiating an exemption at a time when countries were compelled to reduce volumes drastically to shore up the volumes that were to be taken out of the market.

“It wasn’t an easy negotiation for Nigeria but we got it and subsequently renewed the exemption over two periods. This stabilised supplies, income, our budget was able to get largely funded. “We began to see our reserves for the first time grow dramatically from an all-time $25 billion to as high as $45 billion currently - $20 billion movement in terms of reserves growth,” the minister explained. Kachikwu, who stated that resolving the Niger Delta problem was significant in achieving development, said that getting the OPEC to elect Dr. Barkindo Mohammed, as its Secretary General has also helped Nigeria regain its relevance within the cartel. He, however, suggested that Nigeria would need to take proactive steps to enjoy the revenues from the improved oil prices, adding, “We need to continue to look at the global oil market that continues to do a pendulum movement, we need to do this because the earlier Nigeria can reap the best benefits in terms of the incomes from this resource, the better we can do our diversification project, the better we can finance our budgets, the better we can create employment, peace and harmony and the better lifestyle that we have as Nigerian citizens.” Similarly, Kachikwu, said on Tuesday at the closing ceremony of the just concluded 2018 edition of the Nigerian Gas Association (NGA) conference and exhibition, that if Nigeria fails to take urgent steps to attract foreign direct investments (FDIs) into her gas sector, she could end up self-funding gas development projects soon. He noted that the country sadly do not have the kind of money needed to fund such gas development projects if she was to do that by herself.

INVESTITURE...

L-R: Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Simbi Wabote; Executive Director/Co-Founder, Falcon Corporation Limited and current President, Nigerian Gas Association (NGA), Mrs. Audrey Joe-Ezigbo; Group Managing Director, NNPC, Dr. Maikanti Baru; Managing Director, Frontier Oil Limited and outgoing President of NGA, Dada Thomas, during Ezigbo’s investiture as the President of the NGA at the International Gas Conference in Abuja… recently

US Don’t Have Anointed Candidate for 2019 Elections, Says Envoy Francis Sardauna in Katsina

The United States, yesterday, said it has no anointed candidate in Nigeria in the 2019 general elections, but stressed that it would support the country’s electoral processes to ensure a credible, free and fair elections. The political Officer of the United States Embassy in Nigeria, Philip Franz, who made the disclosure in Katsina State during a courtesy call to the state governor, Aminu Bello Masari, said the Embassy would not interfere with the electoral

processes of the country but would ensure a rancour-free polls. He said: “Our mission in the country is to ensure hitchfree, credible and transparent elections that would not toy with Nigeria’s electoral acts. “Therefore, we are looking forward to a peaceful electoral process. We will make sure that the elections are conducted in Nigeria in accordance with the country’s electoral laws.” While reaffirming the Embassy’s quest for a credible elections in Nigeria, the political

officer said the United States has no candidate in next year’s elections, saying “We don’t have candidate, our candidate is the process”. Speaking earlier, Governor Masari called on the US government to rekindle its support for Nigerian government in the areas of education, economic and health in order to compliment federal government’s effort of assuaging the plight of the citizenry. Masari, represented by the Permanent Secretary, Government House, Muntari

Lawal, said Katsina has some students studying in the United States, admonishing the Embassy to assist the state government to actualise its dream of ensuring that the citizens enjoy free education. The governor further disclosed that his administration would not interfere with the activities of Independent National Electoral Commission (INEC), assuring that US will enjoy peaceful deliberations with stakeholders while discharging it assignment in the state.

FG, Lawmakers on Collision over N242bn Virement for 2019 Election Shola Oyeyipo

Indications emerged yesterday that the presidency and the National Assembly may be heading for collision over the sum of N242.205 billion approved for the 2019 general elections from the constituency projects under the Service Wide Vote allocation in the 2018 Appropriation Act. THISDAY gathered that the disagreement is emanating from the refusal of the lawmakers to comply with the request

of President Muhammadu Buhari who asked the National Assembly to provide the virement from the N557 billion inserted into the budget by the federal lawmakers for their constituency projects. The N557 billion, it was learnt, is aside the statutory N100 billion which the parties had agreed on. Apparently to address the issue, principal officers of both chambers of National Assembly led by the duo of the Deputy Speaker, Hon. Yussuff

Lasun and the Senate Leader, Senator Ahmad Lawan went into a closed-door meeting to discuss what they described as sensitive issues. In attendance at the meeting were Senator Phillip Aduda; Senator Abiodun Olujimi; Senior Special Adviser to the President on National Assembly (Senate), Senator Ita Enang, and Senior Special Adviser to the President on National Assembly (House), Suleiman Kawu. On the federal government

delegation were Minister of Finance, Zainab Ahmed, who was accompanied by Director General of Budget Office, Ben Akabueze; Director General of Debt Management Office, Patience Oniha and others. While excusing journalists who were initially invited to attend the meeting, Lasun said the meeting was sensitive, stressing that it does not require media presence: “Ordinarily this is a meeting we always hold behind closed-door,” he added.

T H I S D AY Ëž THURSDAY OCTOBER 18, 2018

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T H I S D AY ˾ ˜ ͯͶ˜ ͰͮͯͶ

COMMENT

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

THE IMPENDING MADAM PRESIDENTS OF AFRICA Africa must start tapping the assets of their women, writes Okello Oculi

he political leadership of Rwanda was brilliant when they decided to dredge out the terrible lake of bitter blood from the genocide of 1994. They did so by profoundly novel way by taking the lead on a global scale in the number of women elected to parliament. In 2012, I entered Rwanda from Nairobi, Kenya, with a Visa granted through an application by Internet. I was travelling on a research task for the United Nations Economic Commission for Africa (UNECA). Persons wishing to do business in the country were probably more favoured and welcomed with more open arms. Senegal would be more democratic than Uganda and Rwanda in opening wide doors of parliaments to their women. A national consensus arrived at by inviting community leaders at all levels, academics, retired and serving top public officers, politicians, journalists, businessmen/ women and other public intellectuals assembled under the chairmanship of Amadou Mokhtar – a former Director General of UNESCO – to review the role of women in Pre-colonial cultures of various communities in Senegal. They agreed that the exclusion of women from decision-making was a colonial perversion which had crept into the constitution and political culture of independent Senegal. Consequently each party wishing to contest elections must have women with a minimum of 50 per cent of its candidates. Women could also contest for other seats. The film-maker, the late Sembene Ousmane, had made several films which celebrated heroic roles played by women in struggles against French colonial dictatorship. In “Emitai’’ it was women who opposed a vicious French policy to loot rice from households for feeding French soldiers at war against German colonisers of France. While the men capitulated to starving the people of Senegal, the women conspired and hid rice in the bush. In Xhala businessmen and politicians are depicted as spineless thieves and eunuchs who avoid the intellectual sweat which drives industrial productivity and inventions in the Americas, Europe, China, India and even tiny Singapore. An elderly man who married a young girl failed the mandatory sexual act that would confirm her honourable status as a virgin. Women, as custodians of honour in Wolof society, mock and invite beggars and cripples to spit on his naked body. This ideological warfare by Sembene Ousmane against male chauvinism and “patriarchy’’ prepared the ground for the novel political and cultural “return to roots’’ which favoured the rights of women to be elected into parliament. The General Assembly of the United Nation had by Resolution 640 (V11) of 20 December 1952 opened for signature the “Convention on the Political Rights of Women’’. In Article two, it stated that ‘’Women shall be eligible for election to all publicly elected bodies, established by national law, on equal terms with men,

without any discrimination’’. African slaves who fought as British troops - against the war for independence by slave-owners in the United States - and later were deported from England to Sierra Leone, pioneered electing women to public office. The United States was beaten by Liberia in electing a woman as president. The “hot pepper’’ of South African politics, Julius Malema, lambasted Thabo Mbeki, Jacob Zuma and the leadership of the African National Congress for conspiring to deny “Mama Winnie Mandela’’ the presidency of post-apartheid South Africa even though she was the “torch of freedom’’ against racist barbarism.

THE ELECTION OF MORE WOMEN TO POWER ALL ACROSS THE CONTINENT WOULD ENSURE BUDGETS THAT SUPPORT THE GROWTH AND DEVELOPMENT OF INDUSTRIAL INVENTIVENESS IN WOMEN THAT AFRICAN ECONOMIES CURRENTLY WASTE AWAY

Victorious movements in Guinea Bissau and Cape Verde, Angola, Algeria, Mozambique, Eritrea and Zimbabwe are yet to throw up women as presidents. Amilcar Cabral was emphatic in denouncing discrimination against women as fighters. Perhaps if Cabral and Agustinho Neto had ruled long enough, they might have achieved the election of women as their successors. A woman veteran of Mau-Mau war in Kenya mocked decisions to name streets in Nairobi, Kenya’s capital, only after men despite heroic roles played by women as spies and smugglers of weapons past British troops. Women in Tunisia have to thank Allah for giving them President as their founding father. He studied law; joined the French Communist Party and saw the power of having well educated workers and people in an age of industrialised imperial Europe. He knew the power of nationalism enough to counter French measures to psychological “assimilation’’ by warning educated Tunisians that anyone who showed pride in being French would not get an Islamic burial. He swung around to say that since development is a “Jihad’’, Tunisians should not weaken their bodies by fasting during “Ramadan’’. He knew the value of giving high quality modern education to women in secular public educational institutions. The National Liberation Front in Algeria has also given strategic value to giving their women quality education in secular educational institutions. Both countries face potential rage in unemployed mass populations who are vulnerable to being turned against educated women. Africa must declare a state of emergency over wasting talents and geniuses of hundreds of millions of illiterate and lowly educated women. The election of more women to power all across the continent would ensure budgets that support the growth and development of industrial inventiveness in women that African economies currently waste away. Leadership by men has bred corruption, betrayal of nationalist steam and, at worst, murderous rule. Timid women are furious, mocking men but demand power-sharing to purge rotten politics. Taju shouts out: “Organise’’. But organise Who? Women at the Roots!

RAISING THE STAKES

Daniel M. Achimugu argues that the choice of Peter Obi as Atiku Abubakar’s running mate is perfect

he choice of a former Governor of Anambra State, Mr. Peter Obi is the wisest political move by the Peoples Democratic Party (PDP) Presidential candidate, Atiku Abubakar. It is particularly and symbolically significant because it comes at a time Nigeria is ever divided over the issue of power rotation, justice and equity. Given the increasing agitations across the country arising from complaints of political marginalisation and exclusion, the selection of Mr. Peter Obi as running mate to Atiku would go a long way to reassure the people of the southeast that no section of Nigeria is too small or too insignificant to be ignored in the affairs of the country. Frustrations feed agitations and these separatist tendencies in the southeast can only be addressed by elected leaders who are just and broadminded enough to understand and respect our diversity. Atiku Abubakar has demonstrated enough courage and sincerity by acknowledging the fact that justice and equity is the foundation of building and sustaining a strong political union or federation. By appointing a broadminded Igbo politician like Peter Obi as his running mate, Atiku leaves no one in doubt that he means business in his commitment to restructuring. The Waziri Adamawa believes in creating a better and fairer society. He believes justice

is the foundation for achieving sustainable peace, he believes in respecting our diversity and the importance of restoring trust and reducing tensions across the country. Therefore, the choice of Peter Obi is welcome because the two of them share the same vision for a better and prosperous Nigeria. The timing of the choice and the quality of Mr. Obi cannot be faulted by any sincere Nigerian. At a time the Nigerian economy is gasping for breath, thanks to poor management, Atiku needs a running mate with a sound understanding of the economy and management of resources. Mr. Peter Obi is not only a politician but also a technocrat and a businessman with sound experience. His intellect is unassailable, and his business and management experiences are important assets that can add value to the Atiku Presidency. Atiku’s choice of Mr. Obi shows clearly that the PDP presidential candidate understands the challenges facing Nigeria. The success or failure of any leader depends on the quality of the team he puts together. As former President Olusegun Obasanjo noted, “the economy doesn’t obey orders.” In other words, fixing the economy requires competence, imagination, vision and resourcefulness. One of the greatest virtues of Atiku Abubakar is his passion for excellence. In this regard, the choice of Peter Obi as his

running mate is a reflection of this passion. Fixing the economy is brain work. An economy is like a patient, if you leave the patient at the mercy of incompetent doctors, he might ultimately die. There is, therefore, a valid reason why Atiku always goes for the best and brightest. He always surrounds himself with men and women of excellence. He doesn’t have stomach for mediocrity. It is not by accident that he always assembles a good team in order to achieve optimum results. He has an eye for quality, hence his choice of Mr. Peter Obi. With a combination of Atiku/Peter Obi ticket, the country can achieve a favourable business and investment environment that could boost the enthusiasm of foreign investors. No leader takes chances with the economy. Like Atiku, Mr. Obi has a rich business background, which gives him a good advantage in the management of the economy. Modern governments are run like a business because of the sound emphasis on reducing waste in government and promoting efficient and prudent management of resources. A successful economy is the foundation of successful job creation initiatives. It is against this background that we can understand the wisdom behind the choice of Peter Obi as running mate by Atiku Abubakar. No President can achieve much without

a competent team. Obi’s choice is the early first signs that Atiku is truly committed to giving Nigerian economy a shot in the arm. Neither Atiku nor Obi wants to be in government to make money. Both of them are successful businessmen and therefore, the passion for service is their primary motivation for seeking public office at this time. You cannot fight corruption without adequately addressing the issue poverty and job creation. And you cannot achieve the goal of job creation when the economy is poorly managed. With a combination of Atiku Abubakar and Peter Obi, the Nigerian economy can be reinvigorated and put on a sound footing of sustainable growth. The economy is central to the success of democratic rule. A badly managed economy may leave the people ever poorer and make life more hopeless. No wise voter should vote themselves into misery. A president’s success also depends on the quality of those he appoints to help him run the government. He needs a strong vice-president with intellect, experience, vision and knowledge about the efficient management of resources. The choice of Peter Obi falls clearly in line with Atiku’s desire to build a robust economy and get Nigeria working again. Achimugu wrote from Lokoja

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EDITORIAL SKYE BANK FAILURE AND MATTERS ARISING Those behind the bankâ€™s failure should be brought to justice

he recent failure of one of the nationâ€™s commercial banks, Skye Bank Plc, has again raised concerns about the corporate governance culture of our ďŹ nancial institutions. It is common knowledge that bank failures donâ€™t happen overnight. The build-up is usually over a reasonable period, and results from poor management, insider abuses by both management and board members among other unwholesome practices. In the case of the Skye Bank, there are culprits to hold responsible. As a consequence of the Skye Bank demise, the Central Bank of Nigeria (CBN), in collaboration with the Nigeria Development Insurance Corporation (NDIC), announced the formation of a bridge bank. Since then, Polaris Bank has successfully taken over the assets and liabilities of Skye Bank. UNTIL FAILED BANK But the Minister PROMOTERS BEGIN of Finance, Hajia Zainab Ahmed has TO PAY FOR THE also vowed that the CONSEQUENCES OF federal government THEIR ACTIONS, THERE would bring all WILL BE NO END TO THE those behind the bankâ€™s failure to MALAISE book. According to Ahmed, the federal government cannot continue to bail out banks with public funds while those behind their failure are shielded from prosecution. Most Nigerians take the ministerâ€™s word with a pinch of salt given previous pledges of such nature. Meanwhile, even when huge non-performing loans (NPLs) reportedly led to the failure of Skye Bank, there are also concerns that the NPLs in some other banks have crossed acceptable threshold. In the efforts to sanitise the nationâ€™s banking industry in the past decade, the CBN has committed over N3 trillion through the Asset Management Corporation of Nigeria (AMCON) to bail out distressed banks in the country. For instance, the CBN had, on 14th August 2009, injected N420 billion into ďŹ ve failed banks and sacked their chief executives

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and executive directors over what it described as weak and unethical management, which left the banks weakly capitalised to the point of collapse. Unfortunately, this pattern of humongous bailouts has become very regular and since the money being so deployed comes from the public purse, it is both unacceptable and unsustainable. Yes, banks play a very crucial role in the development of any economy, and their distress or failure could trigger unsavoury consequences to depositors and other stakeholders. But the lack of consequences in the sector has led to a situation in which some connected people now loot their banks to death with the people left to carry the can for their irresponsibility through CBN bail-outs. While bank failure is not restricted to Nigeria and no bank (irrespective of the clime or size of the economy) is too big or too small to fail, most experts believe that the only way the nationâ€™s banks could be insulated from such constant distress or failure is through proper management by both internal and external authorities. The CBN has also observed that the only way a nation could free itself of bank failure is through the adoption and enforcement of corporate governance culture that will help eradicate poor management, fraud and insider abuses by management and board members, as well as poor assets and liability, among others. Over the years, records have shown that bad debt or NPLs have been the major causes of bank failures and have militated against development. Regrettably, those behind many failed banks in the country have walked away free or were given a mere slap on the wrist while huge taxpayersâ€™ funds had been injected to bail out the banks they ran aground. This cannot continue. That is why we believe the ministerâ€™s pledge to bring those behind the failure of Skye Bank to book is the correct thing to do. Until failed bank promoters begin to pay for the consequences of their actions, there will be no end to the malaise.

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.

CULT KILLINGS IN BENIN CITY

he recent cult killings in Benin City have vindicated the authority of the Ambrose Alli University (AAU), Ekpoma. A section of the media has blamed AAU management over the recent killings in Ekpoma. No one today is blaming the authority of University of Benin over the recent cult killings in Benin City. Many persons had been feared killed in different parts of Benin City and its environs in a renewed clash between rival cult groups. An ad-hoc worker of the Edo State-owned Public Work Volunteer, whose identity could not be confirmed, was killed at his duty post at the popular Third Junction in Benin City. The discordant tune shows that we are simply groping in darkness, which is why mistakes and blunders are being committed. Benin cult killings vindicated my earlier position on AAU killings. The killing in Benin caused pandemonium as traders and commercial bus drivers scampered for safety. At Iyobosa Street, off M.M. Way, the cult gang killed a AAU authority has been vindicated of

all the allegations levelled against it by its traducers. To correct the erroneous impression, there were cult killings in Ekpoma, not AAU. It is wrong to put the blame of cult killings in Ekpoma on the authority of Ambrose Alli University. Cult killings did not happen in the compound of the university in Ekpoma. Today, there are several related cults killing in Benin City and other places in Nigeria. Do we blame universities authority for cult- related killings outside the school? I want to correct the erroneous impression that five persons, including graduating students and ex-students of Ambrose Alli University, Ekpoma were murdered in cold blood in a bar near a private hostel in the university town and not the school. The youths were said to be having a party in Ekpoma and not inside the university when a fracas that culminated in the shooting and killing of the victims broke out. Ambrose Alli University was established many years ago; it has over the years produced an intimidating array of great men and women. Few years ago however,

the institution became notorious as den of numerous deadly campus cults. The cult storm is over and there is an insight on how the school authorities tackled the menace successfully. There was an incident that truly happened in Ekpoma among friends in a bar. It happened far away from the campus. Because it was not on the campus, of course, the police are the ones to investigate it. We were not at the spot, so we rely on what the police saw and what their investigation confirmed. The incident, as revealed by the police, took place in an area around Judgesâ€™ Quarters, far from the university. It was not cult-related and most emphatically, not a celebration party by graduating students. The university has zero tolerance for cultism and had not recorded any in the past 15 years. Cult activities in AAU do not exist anymore. An anti-cult group had been set up by the institution as part of measures to prevent the menace from infiltrating the school. Today, almost all tertiary institutions across the country have confraternities,

otherwise known as secret cults, some of which include Supreme Eiye Confraternity, also referred to as Air Lords. Cultism in Nigeria has no doubt taken a new trend as it has relocated from tertiary institutionsâ€™ campuses to the streets in various communities across the country. In Edo State, particularly in Benin-City, the rate at which teenage youths are initiated into cult groups is alarming, and this has become a major cause of concern to the state government and the law enforcement agents, especially the Nigerian Police, which oftentimes close in and try to stop them during initiations at the odd hours of the night. The Edo State police command has declared that the killings were cult-related but the university authorities claimed they had nothing to do with cultism. The universityâ€™s position is understandable because it does not want to be associated with cultism but the police are best suited to determine the nature of a crime as well as the motive based on their investigation. Inwalomhe Donald, Benin City

T H I S D AY ˾ ͯͶ˜ ͰͮͯͶ

T H I S D AY Ë¾ THURSDAY OCTOBER 18, 2018

T H I S D AY ˾ THURSDAY OCTOBER 18, 2018

POLITICS

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

PERSONALITY INTERVIEW

‘Buhari is the Worst Thing to Happen to the Fulani’ Presidential candidate of the Youth Party of Nigeria, Mr. Rex Adebanjo thinks it is time for the youths to articulate their involvement and objective in governance. He spoke with Nseobong Okon-Ekong on the capacity of Nigerian youths to bridge the fault lines of religion and ethnicity, while advancing the country to the next level of development How did you become involved in politics, your name can hardly be associated with political affairs I have a degree in Philosophy from the University of Ife. That was the era when you had a lot of student activism. We were politically conscious about where the nation was going. We were part of that generation when the Babangida era came and shut down schools. That was where our political consciousness was formed. I had to go abroad. Over there, I was always thinking how things done right and how to provide similar solutions in Nigeria. Over a period of time, I actually created the jobs and ideas to bring back to Nigeria, which focused on the core things I thought was the problem in Nigeria, security, power and education and I came up with solutions for them. I talked about my background to make you see how the evolution to the present effort in this political space came about. In the course of coming back I tried to work with the government to propagate education. It was an e-learning platform, using solar power. It was quite innovative and it was a tremendous experience, I just saw how the system is almost built to fail. It was a fantastic idea. It had the support of the government, yet the procurement system itself just made the thing elusive. The idea was that maybe I could actually go into private enterprise and fund this as a Corporate Social Responsibility. At the same time, I observed the landscape that I left. I always score Nigeria before and after Abacha. The landscape had changed when I came back. In the era I grew up, student union groups were advocates of good governance and they led people into taking action. Now you never hear anything happen, they are compromised. No one seems to talk about the values we all thought were fundamental-things like free education. I don’t know how anyone, whether People’s Democratic Party (PDP) or All Progressives Congress (APC) out there that is going to transform this country without a mass quality education programme. The idea was focused on the cheap concept that could bring quality education to the masses, using solar power. I think it was an interesting thing. The plan was to get a classroom, put a few solar panels on the roof and project on to a television screen, the best classes in the world. Rather than trying to train every teacher, we know that there is deficiency in the quality of teachers, just get one fantastic teacher, the best in the world, from Europe or America or wherever, standardise the training with good visuals that teaches every child in the appropriate subject. That was what I brought to Nigeria. I had seen this done in one of the firms my company worked for. The total coast was going to be about USD150 million for the over 5500 secondary schools in Nigeria. Each one will have a classroom and you have students rotate to receive the lectures. I travelled to the Ogun State, Jigawa, talking to the governors and even Osun State, where the Commissioner for Educution asked

Adebanjo me if it was not too advanced for the children. The education commissioner in Jigawa, a lady later became the Minister of Education under President Goodluck Jonathan. Her explanation was that her government was trying to create infrastructure. My own concept is that the resource is in the brain. We have to invest in human capital. You can build as many bridges. You might put desks in classes, if what is going into the brain is not quality, you are not going to get value to the society. Because of the structure of our politics and our federation, we are largely design failure into the system. The people who are going to bear the biggest brunt are the youths. They are youngest and they are the ones who are going to suffer for the longest period. At the same time they have the biggest potential to transform the nation at this time. Everyone says this is the time for the youths, but no one has ever tried to articulate how the youths should get involved and to what objective. That is what I am trying to do. I think the youths are the one demographic, because of social media and things like that can actually bridge the fault lines that have allowed this kind of nonsense to thrive in Nigeria. The masses are not united. They are split along ethnic and religious line. I was talking to a group and it is ridiculous that what you call the Fulani herdsman has a common interest with an Independent Peoples of Biafra (IPOB) agitator but they will never realise it, because if this leads to a conflict, there is a meeting point

for them. Look at every economic index, the Fulani herdsman is at the bottom of the totem pole, though a Fulani man is at the top as president and the irony of all that should not go pass anyone. Buhari becoming president of Nigeria is the worst thing that could have happened to the Fulani because he has now raised old fears among a whole new generation of Nigerians that is now poured out against the Fulani. The majority of the Fulani people who are going to bear the brunt of that are not benefitting from the supposed power that the Fulani man apparently holds. These are the message that I am trying to get across to the youths. They need to pay attention now more than any other time. If they don’t, in a few years, majority of us are either going to be dead, in refugee camps or living under war lords and area gangs. There is currently an ongoing war in the country, whether people are reporting it or not, in the Middle –belt and elsewhere. The IPOB agitation is there, people are not just going to stand back for the army to come and sort out all of that. These are going to build up to some kind of conflict. But even if you take that out and you have a marginal change in government, all our problems are going to quadruple unless someone figures out a mass programme to solve them Think of the masses of the youths in the north. The government needs to take ownership. These people are not going to save themselves. Someone has to step in and say, ‘we take all of you and we will build you

into industries where there is training.’ They have to adopt these number of youths, almost as if the government is now their parents; both from job training that has a value chain that can feed itself and is sustainable. You would think that a Buhari who has such a large following in the north would have figured out how to create artisan industrial parks. We are 180 million people we all need to eat, clothe and house, that is commerce. Just train them in mass areas of land that the government has until they acquire the skill and a certificate then they can go into the market themselves and become gainfully employed. You need mass programmes like that including free quality education. There is no ‘ifs and buts’ about it. That is where I am concerned because the people who are going to suffer the most are the youths. If they don’t pay attention now, there might not be a Nigeria in four years. Nigeria’s situation is like the analogy of the frog. If there is boiling water and you drop a frog into it, it will jump right out, but if you leave it in cold water and slowly turn the fire on, the frog is going to boil to death. We are in the slow-boiling-frog situation. Everyone acts as if nothing is going while there is an upcoming explosion underneath all of us-either from the divisions, the herdsmen, IPOB or militants in the Niger Delta, something will break because the capacity of the government to contain it in terms of revenue is shrinking. Everyone is thinking about corruption. That is a small of the problem. It should not be a president’s focus. An independent agency can always deal with that. There is population time bomb in itself. We are now seeing people committing suicide, I was driving today and I saw three people just lying on the street, no one cared. They were probably just giving up. It is when they die and smell and become intolerable that someone will report that there is a dead body on the street somewhere, to go and pick it up. We have people like that in our system. When you hear about an uprising, it is just one trigger. Look at how it happened in Morocco, one guy set himself ablaze, because he could not take it anymore. The thing is when you have an uprising like that because it is spontaneous, it is not organized. It happened suddenly, it doesn’t really lead anywhere. It is not structured. I think we have this last window in 2019 for a peaceful transformative transfer of power to solve our problems and that the mandate that I am trying to lead around a few things that I have identified that I think the youths need to rely on. The first thing I think is for the youths to try to assess and understand their own power in terms of numbers, come together on a unified platform or maybe around a unified candidate and then pursue specific objectives, you might call it manifesto and that has nothing to do with personalities. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

IN THE MIRROR: r3FY "EFCBOKP JT B TVDDFTTGVM FOUSFQSFOFVS private equity investor and venture capitalist r)F TVDDFTTGVMMZ GPVOEFE B MFBEJOH DPNmercial solar power company in the country which attracted successful investment from two of the leading private equity funds in Africa and was featured as the Number 1 renewable energy deal in the world in 2018 by Renewable Energy World r3FY XBT B DPSQPSBUF MBXZFS JO /FX :PSL

for several years where he served as counsel to some of the leading corporations in the world such as Morgan Stanley, Goldman Sachs, Verizon Wireless r3FY XBT BO BUUPSOFZ XJUI %BWJT 1PML and Wardwell, Clifford Chance and Sidley Austin LLP. Rex earned a B.A in Philosophy from the University of Ife in Nigeria, an LL.B. from the University of Buckingham in England and a J.D. from

Columbia University, New York where he was a Harlan Fiske Stone Scholar and Articles Editor of the Colombia Business Law Review r'PS UIF QBTU ZFBST 3FY IBT CFFO USZJOH to promote free quality education for all children in Nigeria and ultimately Africa as the foundation to transformation and the development of Nigeria and Africa r3FY "EFCBOKP XBT QSBDUJDJOH MBX JO UIF

United States until a few years ago when the passion to give back to his motherland fired him to return home r" TUVEFOU BDUJWJTU VOUJM IF MFGU /JHFSJB he was one of those who could not stomach the tyrannical rule of General Sani Abacha and the evils it represented r3FY IBT PQUFE UP QVSTVF QPMJUJDBM DIBOHF to for a more immediate remedy as time has become of the essence

T H I S D AY ˾ THURSDAY OCTOBER 18, 2018

POLITICS

‘No Cabal Can Hijack Abubakar’ Yekini Jimoh was in the team of journalists in Lokoja who interviewed the former acting governor of Kogi State, Chief Clarence Olafemi, on the emergence of Alhaji Atiku Abubakar as presidential candidate of the People’s Democratic Party. Olafemi is one of the leading political gladiators in Kogi As an insider in Abubakar’s project, how did he win the PDP presidential primary? It was not his first time. Alhaji Atiku Abubakar has contested the president position; not once, not twice and he had already understudied the reasons of his inability to succeed in previous attempts. He understood why he lost in 2014. Those of us who worked closely with him saw it all. I was the Kogi State Campaign Coordinator for Atiku Abubakar. I am in the inner caucus of the Atiku project. I was a Minority Leader in Kogi State House of Assembly between 2003 and 2007. I was a Speaker of the same house between 2007 and 2011. I have been a member of All Progressives Congress (APC) Board of Trustees and member of the presidential campaign organisation that brought President Muhammadu Buhari to power in 2015. Abubakar knows the importance of a presidential campaign organisation and he will not just pick people who have nothing to offer as far as the project is concerned. I am sure that people will be picked according to their track record, not by big names or sentiment. This is what I intend to recommend to the Atiku campaign organization because the formation of the organization should be within the PDP circle. The networking should be maintained instead of restricting the project to the campaign organisation alone and it should be expanded to accommodate those who have the interest of the party at heart and all other aspirants should be carried along in the Atiku project. This is basic so that we can have an allencompassing campaign organisation involving people who have the commitment of the party and believe in the person of Abubakar and can blend them. It is crucial to the next stage we are going into any moment from now. Already many politicians have established that President Buhari must be changed. An average Nigerian knows that. When we went for the primary election in Lagos 2014/2015 that brought President Buhari, everybody knew that one Dollar was less than N250 but today one Dollar is over N350 and people are not unaware that Dollar has a significant role to play in the international market. America and China are comfortable today as a result of their robust economic base. If Nigeria must be returnrf back to economic growth, we must bring into power people who are committed to the nation. The person must be someone who

Olafemi has an idea of what to do with the economy and must have succeeded in his business. Even today government cannot completely defeat Boko Haram because the economy of the country is in shambles. In the recent past, Nigeria helped to liberate Sierra Leone, Liberia and Rwanda because at that time the economic base of our nation was buoyant. It is disheartening that the federal government cannot defeat Boko Haram that has only occupied a segment of the country. To move forward, there is the need to change this present government that lacks the idea of how to improve the economy. Therefore, people should not wait until they are told to change the leadership of the country. Some of us fought tooth and nail in 2015 to change the government in power. We thought that we could get a better manager, but the reverse is the case. We brought a government that is doing worse than the former government. We are back in the trenches again to bring another government that will improve the economy of the country because so many things have become worse. Even the PDP that ruled for 16 years did not push the country to this precarious situation where a bag of rice is more than N20,000, where many families can no longer feed, many states can no longer pay salaries, as at when due and people are gradually dying on daily basis because they can no longer withstand

the poor economy. Within three years President Buhari’s administration, insecurity in the country is rising every day, killings has become a daily affair, roads have become a death trap and yet we have a government in place. In the last one year, the Lokoja -Okene Road that connects the North, West, East and Southern parts of the country and the Aba –Port Harcourt Road have been begging for rehabilitation, but the federal government pretended as if nothing is happening. If you go to the East, West and even some parts of the North, there are no roads. This ineptitude in governance is not what the people bargained for in 2015 when they opted for a change of government. We really need to change Buhari’s government and it is this desire for a change that made Abubakar win the PDP presidential primary. All the aspirants in the election were qualified to govern this nation, but none of them equals Abubakar in terms of prerequisite. Those of us who are closer to Abubakar have seen in him a sort of ingenuity that can change the country for the better. Atiku is not struggling to become the President of the country because he needs money. He wants to be president because he believes that he has the experience, the capability and the good knowledge of the nation’s economy which he can apply to move the country from its present woeful state. It baffled me when some few people say Abubakar is corrupt, yet no corruption charges have not been brought against him since he left office as the Vice President of the country more than 11 years ago. It is unfortunate that in this country we cannot really differentiate between what we want and our needs. That has been our major predicament since Nigeria became independent. This has been drawing us back as a nation despite the abundant God-given ingredients for development. This country cannot grow if a leader is operating in an economy that is not growing the work force .The rate of unemployment is too high and it is worrisome and we must create a Nigeria where, irrespective of your religion and tribe, you can work and live in any part of the country to contribute to the development of the place. In the early 1970s down to 80s that was the kind of country we had. Suddenly things changed. Abubakar is the man who can restore that lost glory to the people because he is married to

women from the West, the East and the North without discriminating on the basis of ethnic group. Atiku is a Fulani man but he does not put his cows over and above human lives. That is the kind of a man we need as president. Atiku has all his children in Nigeria even when he has the financial capacity to take them to foreign countries. He kept them in Nigeria so that they can contribute their quota to the development of this country. That is the patriotism we need in this land, but many of our leaders are not patriotic that was why they don’t care where Nigeria is drifting to. The APC National Chairman who said they will discuss based on issues should come out and tell Nigerians how and why one Dollar to Naira rose to over 350 Naira when President Buhari inherited it below 250 Naira per Dollar. The APC government is confused. It lacks ideas on how to improve the country’s economy. We want instant development, but not under the moribund government of APC. We built and funded the party and we know why we left it. After the victory of the party at the poll, an unknown cabal hijacked the government. In the case of Abubakar, he is totally independent, no cabal can hijack him because those of us who have committed our time, our resources and remain with him in the sun and under the rain will not allow any cabal to hijack him, if by God’s grace he becomes the president. We must have the country of our dream. The founding fathers of this nation never dreamt of this kind of problems that has bedeviled the country. Imagine Nigerians buying one litre of petrol at 145 Naira and yet we have refineries. The situation in Ajaokuta Steel Company is sad. We need a successful business man who can turn around the fortunes of this country, just the way the American President is doing right now. Abubakar has created jobs more than any other presidential aspirant either in the PDP, APC and other political parties in this country through his chains of businesses. I have interacted with him and I am optimistic that he knows what to do if given the mandate to serve as Nigeria’s president. That was why we joined forces to ensure that he emerged as the standard bearer of the PDP. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

‘Gana is SDP’s Presidential Candidate, Not Donald Duke’ Director General of Prof. Jerry Gana’s Campaign Organization, Dr. Ike Neliaku fields questions from Oghenevwede Ohwovoriole on why the Social Democratic Party leadership should reverse itself and make his principal the party’s presidential candidate You have been making insistent demand for your principal, Prof. Jerry Gana to be declared the winner of the SDP presidential primary. Why should the party reverse itself in his favour? In the constitution of the party, there are provisions that indicates where the presidential candidate of the party should come from. It’s enshrined in the constitution; section 15.3. 1,1a (Rotation and zoning of offices: 1. The party shall adhere strictly to the principle of zoning and rotation of political offices based on the principle of inclusiveness, justice, equity and fairness to all. 1a: the office of the president and national chairman of the party shall be rotate between the South and North and amongst the six geopolitical zones.) Before now our National Chairman, Chief Olu Falae has made a commitment to this effect. As a law abiding party that believes in its on constitution, it would have been clear and logical that the party’s presidential candidate comes from the north, since Falae is from the south. On the bases of such assurances, we of the G19 fielded a presidential aspirant and marketed him to the international community, the Nigerian people and the SDP family. When we saw that two people came from outside the north to seek the mandate of the party for the presidential ticket,

we drew the attention of the party leadership, to say it was zoned to the north. They said they will look into it. We waited but heard nothing and we got to know of arrangements for the national convention and we attended the screening where the question was posed to the chairman of the screening committee (Prof. Tinder Adeniran). He said it was debated but they couldn’t reach a conclusion. They didn’t publish names of qualified candidates for the primaries. We were only told that we have been cleared and when we got to the convention venue we discovered that the two aspirants from the south were still in the race. At the end, Mr. Donald Duke polled 812 votes while Prof. Gana polled 611 votes and Mr. Duke was returned according to the electoral panel and we said, ‘no’ because we raised this issue of zoning and our position is in line with the party constitution; Mr. Donald Duke and Amb. Felix Osakwe were not supposed to contest in the SDP presidential primary given that they are not from the north. By that provision of the constitution, Gana should be declared as the winner and candidate of the party having scored the highest ‘lawful’ votes. When it was not done we wrote an appeal. We followed it up and wrote another to the National Chairman and nothing has happened, so far. After

waiting for 72 hours, we felt we needed to speak to the public because as at that time we were under tremendous pressure from our supporters. Some of them thought we sold out. There were other irregularities, but we decided to ignore all those and focus more on the constitutional issue. Was your complaint written or just a verbal discussion with party leaders? There are many ways you can bring up an issue. I didn’t write but raised the issue with two members of the screening committee. Before then, my principal has raised same issue with the chairman of the screening committee and the National Secretary of the party. Your constitution states ‘the president’, not a presidential aspirant. Don’t you think this point may knock off your arguments? How is a president produced? Presidents don’t drop from the sky. They go through a process. If the process is faulty then the foundation cannot stand. Has there been any communication from the party? They have. It was a meeting. Instead if addressing the issue that we raised it was a meeting of an appeal from what I was briefed. It was an appeal

to us to accept the outcome of the convention. Our position is very clear. We have refused to come into all the irregularities such as delegate manipulation, hired delegates and all manner of things. People who were sympathetic to the other were brought in to write for people who couldn’t write. Many from within and outside this country joined the party because we sold the party to them, as a party that is not prone to impunity, imposition, lawlessness and all those things. When we came into the party we joined hands with those we met to revamp the party and give it a new life. That is because initially, we were members of the People’s Democratic Party (PDP) and we felt that something had gone wrong in PDP and we said, ‘guys let’s go to a place where we can have that peace of mind and that you are sure that the integrity of the party is intact’. For somebody with the pedigree of Chief Olu Falae, we felt that under his leadership, he would stand for what is right. If you fail to get justice from the party, will you go to the regular courts? We will take every step available to us to make sure that this matter is properly treated. We are asking for justice and nothing more. We are ready to go to any length within the confines of the law.

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

Heightened Fears Over Demise of Humanitarian Aid Worker Chiemelie Ezeobi writes that the recent death of humanitarian aid worker, Hauwa Liman in the hands of Islamic State's West African Province, has heightened fears over the safety of Dapchi school girl, Leah Sharibu and Alice Loksha, another health worker, who are still in captivity

The three abducted humanitarian health workers before the execution of Liman and Korsha

espite the heightened tensions in the North-east over the resurgence of Boko Haram terrorists and other terror splinter groups, humanitarian aid workers keep braving the storm in their passion to save lives and care for the down trodden victims of war. The trio of Hauwa Mohammed Liman, Alice Loksha and Saifura Hussaini Ahmed Khorsa, all women, were one of such persons, until terror struck and saw the abduction, then death of Khorsa and Liman. While Liman and Khorsa worked in a hospital supported by the International Committee of the Red Cross (ICRC), Loksha, was a nurse who worked in a centre supported by UNICEF. They were going about their daily activities when the splinter terror forces known as the Islamic State West African Province (ISWAP) struck on March 1, this year. While the trio of Liman, Loksha and Khorsa were captured, four other aid workers were killed alongside eight security personnel. The Rann Attack On the said day, no fewer than four aid workers were killed on that Thursday night attack by insurgents in Rann community in Kala Balge Local Government of Borno. According to Samantha Newport, Head of Communications, UNICEF Office for Coordination of Humanitarian Affairs (OCHA), who confirmed the incident to the on Friday in Maiduguri, two of the deceased were personnel of UN client organisation, International Organisation of Migration (IOM), deployed to Rann as camp managers. She added that others killed were a medical doctor working as a consultant with UNICEF and an aid worker with the ICRC affiliate organisation. The insurgents had attacked the town at about 7 p.m. using in their trucks and motorcycles. They first infiltrated the town before attacking a military base and an internally displaced persons’ (IDP) camp, where over 55,000 persons

sought shelter, alongside humanitarian workers. At end of the attack, Liman, Loksha and Khorsa were missing. Suspension of Humanitarian Services Following the attack, the United Nations (UN) and the Medicine Sans Frontiers (MSF), pulled out its aid workers. According to Stéphane Dujarric, spokesperson for UN Secretary-General António Guterres, who announced the suspension of humanitarian services had reiterated calls by the secretary general that the perpetrators be apprehended and punished for their action in the statement. At the time of the attack, over 40 humanitarian workers were in Rann before they were evacuated and all humanitarian deliveries in the area temporarily suspended. He further stressed that such attacks targeting civilians and civilian infrastructure violate international humanitarian law.

To the holder of these kidnapped women, ISWAP (Islamic State West African Province group): we urge you for mercy. We urge you to not kill another innocent healthcare worker who was doing nothing but helping the community in Northeast Nigeria

Similarly, the Field Communication Officer of the Doctors Without Borders, otherwise known as Medicines Sans Frontiers (MSF), Maro Verli, also decided to suspend its medical activities in the town. This was a huge blow for humanitarian services given that the MSF team has been providing medical care to the 40,000 people in Rann, since January 2017. The First Blow After seven months in captivity, the first blow came when one of the healthcare workers and staff of ICRC, Saifura Hussaini Ahmed Khorsa, was killed in cold blood by her abductors on September 16. Condemning the act, the ICRC had at the same time appealed for the release of the other two. The 25-year-old midwife was shot from behind by ISWAP three weeks after an audio and picture of the three health workers surfaced begging President Muhammadu Buhari to rescue them from captivity. In the audio, they said the terror group had given them the final warning. Failure by the the government to rescue them led to the death of the mother of two; five-year-old daughter and two-year-old son. The head of ICRC delegation in Abuja had said: “We are devastated by the murder of our colleague Saifura. She moved to Rann to selflessly help those in need. She was a devoted mother and midwife. Those who knew her said she adored her two children, a two-year-old boy and a five-year-old girl. The children have not been able to comprehend their mother's absence, as they frequently asked their grandmother if a passing plane was bringing their mother home. That grandmother must now find the words to tell two children their mother will never return.” According to The Cable, the insurgents claimed that they had contacted government over the captives but did not get any response. “We contacted the government through writing and also sent audio messages but the government have ignored us. So, here is a message of blood. The other nurse and midwife will be executed

in similar manner in one month, including Leah Sharibu", said a spokesman of the group who did not give his name. Subsequent Ultimatum On October 14, almost a month after Khorsa was killed, a statement from the ICRC said the terrorists were now threatening to kill Liman in the next 24 hours if their release was not negotiated. The Mamadou Sow, Head of ICRC’s Operations in the Lake Chad Basin, had said: "Speed and urgency are critical. A deadline that could result in the killing of another health-care worker is less than 24 hours away." The Passionate Appeal Barely 24 hours to the deadline given by the terrorists, the ICRC had made a final passionate appeal for the release of the two remaining aid workers. They went further to issue a statement in English and then Hausa language. The appeal by Patricia Danzi, Director of ICRC Operations in Africa, read: "The International Committee of the Red Cross (ICRC) is making an urgent public appeal to the Nigerian Government and to communities and individuals with influence to work toward the release of two committed medical workers abducted in north-eastern Nigeria earlier this year. Speed and urgency are critical. A deadline that could result in the killing of another health-care worker is less than 24 hours away. "To the holder of these kidnapped women, ISWAP (Islamic State West African Province group): We urge you for mercy. We urge you to not kill another innocent healthcare worker who was doing nothing but helping the community in north-east Nigeria. Hauwa Mohammed Liman worked in a hospital supported by the International Committee of the Red Cross (ICRC) when she was abducted on 01 March with Alice Loksha, a nurse who worked in a centre supported by UNICEF. "Hauwa and Alice are medical workers who chose to work and help vulnerable communities in Rann, an area heavily affected by violence",

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It is very unfortunate that it has come to this. Before and after the deadline issued by her abductors, the federal government did everything any responsible government should do to save the aid worker. As we have been doing since these young women were abducted, we kept the line of negotiations open all through

said Mamadou Sow, the head of ICRC's Operations in the Lake Chad Basin. "The town's population has more than doubled because of the conflict, while most local health-care staff have fled. These women were providing essential and life-saving services to thousands of people, displaced and resident alike. All they sought to do was to help. "A third healthcare worker abducted alongside Hauwa and Alice – ICRC colleague Saifura Hussaini Ahmed Khorsa -- was killed by her abductors in September. The ICRC asks those involved with this case to do everything they can to avoid a repeat of that devastating outcome. Leah Sharibu, a 15-year-old school student, was taken from her school in Dapchi in a separate abduction incident in February. She is also being held by the same armed group and everything must be done to ensure she too is released promptly and unharmed. "We urge you: spare and release these women. They are a midwife, a nurse, and a student. Like all those abducted, they are not part of any fight. They are daughters and sisters, one is a mother -- women with their futures ahead of them, children to raise, and families to return to." Also lending voice to the appeal, Toafic Toure, ICRC operational communication delegate, Maiduguri sub-delegation, pleaded with the federal government to avert the proposed killing as the deadline approached. Devastating News Despite the appeal from several quarters, the sad news filtered in on October 15 that the terrorists finally made good their threat. In a report by The Cable that polarised the social media space, Liman was said to have been killed on Monday. According to a video obtained by TheCable, she was forced to kneel down, with her hands tied inside a white hijab which has a crest symbol, and then shot at close range. Reacting to the claims, the ICRC had initially expressed hope that it was false. In a terse text on their Twitter page they said: "We are hearing devastating reports Hauwa has been executed. At this stage, we don't have confirmation this is true. We desperately hope not. We will provide an update when we have accurate information. This situation is heartbreaking, and our thoughts remain with her family." When it became clear the news was true, the ICRC again on their Twitter page said Liman's death has broken their hearts. They said: "A second health worker held hostage in Nigeria has been murdered. Hauwa was a friend and daughter. She was a midwife, helping women in their most painful and vulnerable moments, bringing life into the world. Hauwa was not yet 25. We will never know what her life would go on to hold." Speaking on behalf of the organisation, Danzi said: "It's utterly devastating that we have to write that sentence. The International Committee of the Red Cross (ICRC) received information indicating that Hauwa Mohammed Liman has been killed 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. We appealed for mercy and an end to such senseless murders. How can it be that two female healthcare workers were killed backto-back? Nothing can justify this. Hauwa, 24,

Saifura Hussaini Ahmed Khorsa, murdered on September 16

Alice Loksha, still in captivity since March 1

was full of life, becoming a midwife at an early age. People who knew her described her as a sociable, 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. "The ICRC made sustained and committed efforts to secure the release of the three health-care workers, including a last-minute plea for mercy on Sunday to the Islamic State West Africa Province 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 health care remains a challenge. We urge the group holding Alice and Leah to release them safely." As expected, reactions trailed the brutal death. Chief amongst them was the Senate President, Bukola Saraki who said: "I join Nigerians and the international community in condemning the murder of Hauwa Liman- an aid worker with @ICRC, by Boko Haram." His wife, Toyin also joined suit. In a tweet on her Twitter handle @ToyinSaraki she said said: "Awful news that @ICRC #healthworker Hauwa Leman has been murdered despite urgent appeals to leave no stone unturned for her rescue and return. #NotATarget."

Hauwa Mohammed Liman, murdered on October 15

Leah Sharibu, still in captivity since February 19

FG's Burden Expectedly, the blame was squarely placed on the doorsteps of the federal government for Liman's death. In reaction, the federal government condemned the execution. The Minister of Information, Lai Mohammed, said the government did “everything any responsible government should do” to save the duo. Reacting via a statement, Mohammed said the government was deeply pained by the incident, adding that the government kept negotiations open, trying to rescue the women, and had acted in the best interest of the women and the country. The statement read: “It is very unfortunate that it has come to this. Before and after the deadline issued by her abductors, the federal government did everything any responsible government should do to save the aid worker. As we have been doing since these young women were abducted, we kept the line of negotiations open all through. In all the negotiations, we acted in the best interest of the women and the country as a whole. “We are deeply pained by this killing, just like we were by the recent killing of the first aid worker. However, we will keep the negotiations open and continue to work to free the innocent women who remain in the custody of their abductors.”

Heightened Fears for Sharibu, Loksha Given the cold blooded manner the insurgents have been carrying out their threats, it has heightened fears over the safety of Loksha and Sharibu, who are still in captivity. Although the insurgents threatened to only enslave Sharibu, still fears abound. Sharibu, is the only Christian among the 110 girls abducted at the Government Girls’ Science and Technical College, Dapchi, Yobe State, on February 19, 2018, who is still in captivity. The federal government had in February succeeded in securing the release of 105. Out of the 110 abducted girls, four died, while one is still in captivity. Since her abduction in February, there has been continuous clamour for her release from her parents, Nigerians and the world in general. In August, after a video of Sharibu surfaced where she appealed to the president to rescue her, a global campaign was again relaunched for her release. Although the federal government had said it was making efforts to secure her release, her parents who were fed up of the promises recently sued the government for reneging on protecting their child whilst in school. Although it is not clear if Sharibu and Loksha are kept in the same camp, Liman's death has already increased the pressure on the government and security agencies to do the needful to secure their release.

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L-R: Lagos State Head of Service, Folasade Adesoye; Human Resources Director, British American Tobacco (BAT), West Africa Area, Temitope Akinsanya; Secretary to the Lagos State government, Mr Tunji Bello; Lagos State Commissioner for Agriculture, Mr Toyin Suara, and Head Consumer Client Coverage, Stanbic IBTC Bank, Nnnena Okoro at the World Food Day Lagos Farm Fair held at the Police College, Ikeja, Lagos...recently

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OIL AND GAS CONFERENCE

L-R: Former Group Managing Director (GMD), Nigeria National Petroleum Corporation (NNPC), Gaius Obaseki; GMD NNPC/Special Guest, Dr. Maikanti Baru and President, Nigerian Gas Association (NGA), Engr. Dada Thomas, during the NGA 11th International Conference and Exhibitions in Abujaâ€Śrecently PHOTO: KINGSLEY ADEBOYE

FG Unbundles NIPOST for ProďŹ tability, Job Creation Emma Okonji The federal government, through the Ministry of Communications has restructured the Nigerian Postal Service (NIPOST), through a strategic unbundling process that will enable NIPOST to be driven by five new companies, providing new services for new streams of revenue generation and job creation. The Minister of Communications, Adebayo Shittu who made the disclosure at the 2018 Nigeria Mobile Economy Summit and Expo (NiMES), which held in Lagos recently, said the move became necessary, owing to the widespread branches of NIPOST across the country, which he said, was an avenue and opportunity to introduce new digital services in

TELECOM NIPOST that would better serve the Nigerian populace and also generate new streams of income for government. Adebayo, listed the new companies that would create jobs and drive profitability for NIPOST to include: NIPOST Banking and Insurance Company; NIPOST Property and Development Company; NIPOST Transport and Logistics Company; NIPOST eGovernment Services Company and NIPOST e-Commerce Services Company. He said the unbundling process had been completed and in the next few months, the drivers of the new companies would be announced.

â€œThe Ministry is also ensuring Information Technology (IT) Compliance among Ministries, Departments and Agencies (MDAs) of government and effecting a high level of professionalism in the industry. â€œNIPOST is being restructured and commercialised, it is now customer-centric and marketdriven. By Godâ€™s grace, NIPOST in a few monthsâ€™ time, will have five new companies to provide new services for the generality of Nigerians, create hundreds of new jobs and open new streams of revenue for government,â€? Shittu said. According to him, as one of the fastest growing markets for mobile technology and trends in Africa, the government would create affordable and reliable access

to ICT services and infrastructure development through her various plans and initiatives. â€œWe at the Federal Ministry of Communications strongly believe that Nigeria cannot have any meaningful development without a commensurate level of development in mobile economy and technology. â€œWe as a nation must begin to see the development and use of mobile technology applications and tools as prerequisites to speedy national development,â€? Shittu added. The Convener of NiMES 2018, Dr. Bayero Agabi, said with well over 198 million lines today, up from 400,000 working lines in 2001, Continued on page 24

â€ŚUrged to Take Measures to Sustain Growth, Avert Recession Peter Uzoho Afrinvest (West Africa) Limited has urged the federal government to take urgent measures towards reforming key sectors of the Nigerian economy. This, according to the firm is to enable the economy sustain its growth momentum and avert imminent downturn. The Group Managing Director of Afrinvest, Mr. Ike Chioke, gave the advice in Lagos Tuesday, while presenting the highlights of the investment bankâ€™s 2018 Annual Nigerian Banking Sector Report, with the theme: â€œAn Economic Agenda for A New

ECONOMY Government.â€? Chioke said the report billed for launch in Abuja on October 22, 2018, presents a viable economic roadmap for Nigeria in 2019, and will have some key economic managers such as the Minister of Finance, Zainab Ahmed, and Minister of Industry, Trade and Investment, amongst others, in attendance at the occasion. He stated that there is an opportunity to reset the dynamics of the economy and build new growth levers that would propel Nigeria on the path of progress

in 2019. According to him, while there are some positive signs of growth in the economy, certain key vulnerabilities have been identified as drawbacks to the nationâ€™s growth potential. He added: â€œThere is need for fiscal, monetary, and structural reforms to sustain growth and avert a sharp downturn. The next oil shock is inevitable given volatile commodity prices. We are not saving for rainy day.â€? He further said the federal government should ensure the passage of the Petroleum Industry Bill (PIB) and fully liberalise the downstream sector of the

petroleum industry to attract more investors. â€œEngender transparency and sanctity of contracts; Increase budgetary funding to match 26 per cent of budget based on UNESCO recommendation over a period; develop a coherent and comprehensive strategy with states to improve elementary education; prioritise regional interventions for weak regions; sign the African Continental Free Trade Area Agreement after due consultations with stakeholders; accelerate business environment reforms and provide incentives; Continued on page 24

Ă™Ă•Ă“Ă‹ Ă“Ă? Ă“Ă˜ĂžĂœĂ™ĂŽĂ&#x;Ă?Ă“Ă˜Ă‘ Ă˜Ă?ĂĄ Ă“Ă˘Ă?ĂŽ Ă“ĂœĂ?Ă–Ă?Ă?Ă? Ă?Ă?Ă?Ă?Ă? Ě™ Ěš ĂšĂœĂ™ĂŽĂ&#x;Ă?ĂžĂ? ĂžĂ™ Ă’Ă?Ă–Ăš Ă™ĂšĂ?ĂœĂ‹ĂžĂ™ĂœĂ? Ă‹Ă?Ă?Ă?Ă–Ă?ĂœĂ‹ĂžĂ? Ă&#x;Ă–ĂžĂœĂ‹Ě‹ĂŒĂœĂ™Ă‹ĂŽĂŒĂ‹Ă˜ĂŽ ĂŽĂ?ĂšĂ–Ă™ĂŁĂ—Ă?Ă˜ĂžĂ? Ă‹Ă˜ĂŽ ĂŽĂ?Ă–Ă“Ă Ă?Ăœ Ă—Ă™ĂœĂ? ĂŒĂ‹Ă˜ĂŽĂĄĂ“ĂŽĂžĂ’ ĂžĂ™ ĂšĂ?Ă™ĂšĂ–Ă? Ă?Ă™Ă™Ă˜Ă?ĂœË› Ă’Ă? Ă?Ă˜Ă’Ă‹Ă˜Ă?Ă?ĂŽ ĂšĂ™ĂœĂžĂ?Ă™Ă–Ă“Ă™ Ă“Ă˜Ă?Ă–Ă&#x;ĂŽĂ?Ă? Ă˜Ă?ĂĄ Ă‹Ă?Ăž Ă“Ă–Ă? Ă’Ă“Ă‘Ă’Ě‹Ă‘Ă‹Ă“Ă˜ Ă™Ă&#x;ĂžĚ‹ ĂŽĂ™Ă™Ăœ ĂœĂ?Ă?Ă?Ă“Ă Ă?ĂœĂ? Ă‹Ă˜ĂŽ Ă“Ă˜ĂŽĂ™Ă™Ăœ Ă‘Ă‹ĂžĂ?ĂĄĂ‹ĂŁĂ? ĂžĂ’Ă‹Ăž Ă‹ĂœĂ? Ă?Ă‹Ă?ĂŁ ĂžĂ™ Ă“Ă˜Ă?ĂžĂ‹Ă–Ă– Ă‹Ă˜ĂŽ Ă?Ă“Ă‘Ă˜Ă“Ę¨Ă?Ă‹Ă˜ĂžĂ–ĂŁ Ă?Ă˜Ă’Ă‹Ă˜Ă?Ă? ĂžĂ’Ă? Ă&#x;Ă–ĂžĂœĂ‹Ě‹ĂŒĂœĂ™Ă‹ĂŽĂŒĂ‹Ă˜ĂŽ Ă?Ă˘ĂšĂ?ĂœĂ“Ă?Ă˜Ă?Ă? Ă?Ă™Ăœ Ă?Ă&#x;Ă?ĂžĂ™Ă—Ă?ĂœĂ?Ë› Ă™ĂŒĂ“Ă–Ă? Ă™ĂšĂ?ĂœĂ‹ĂžĂ™ĂœĂ? Ă“Ă˜Ă Ă?Ă?ĂžĂ?ĂŽ Ă“Ă˜ Í˛ ĂžĂ™ ĂŒĂœĂ“Ă˜Ă‘ ĂŒĂœĂ™Ă‹ĂŽĂŒĂ‹Ă˜ĂŽ Ă?ĂšĂ?Ă?ĂŽĂ? ĂžĂ™ Ă—Ă™ĂŒĂ“Ă–Ă? Ă˜Ă?ĂžĂĄĂ™ĂœĂ•Ă?Ë› Ă™ĂĄ ĂžĂ’Ă?ĂŁ Ă‹ĂœĂ? ĂšĂ™Ă“Ă?Ă?ĂŽ ĂžĂ™ Ă“Ă—ĂšĂœĂ™Ă Ă? ĂšĂ?ĂœĂ?Ă™ĂœĂ—Ă‹Ă˜Ă?Ă? Ă?Ă“Ă‘Ă˜Ă“Ę¨Ă?Ă‹Ă˜ĂžĂ–ĂŁ ĂžĂ’ĂœĂ™Ă&#x;Ă‘Ă’ ĂžĂ’Ă?Ă“Ăœ Ă“Ă˜Ă Ă?Ă?ĂžĂ—Ă?Ă˜Ăž Ă“Ă˜ Íł Ë› Ă˜ ĂŒĂ™ĂžĂ’ Ă?Ă‹Ă?Ă?Ă?Ëœ Ă—Ă™ĂŒĂ“Ă–Ă? Ă™ĂšĂ?ĂœĂ‹ĂžĂ™ĂœĂ? Ă’Ă‹Ă Ă? Ă‹Ă˜ Ă™ĂšĂšĂ™ĂœĂžĂ&#x;Ă˜Ă“ĂžĂŁ ĂžĂ™ Ă?Ă‹ĂšĂžĂ&#x;ĂœĂ? Ă˜Ă?ĂĄ ĂœĂ?Ă Ă?Ă˜Ă&#x;Ă? Ă?ĂžĂœĂ?Ă‹Ă—Ă? Ă?ĂœĂ™Ă— ĂžĂ’Ă? ĂŽĂ?Ă–Ă“Ă Ă?ĂœĂŁ Ă™Ă? Ă&#x;Ă–ĂžĂœĂ‹Ě‹ĂŒĂœĂ™Ă‹ĂŽĂŒĂ‹Ă˜ĂŽ Ă?Ă?ĂœĂ Ă“Ă?Ă?Ă? ĂžĂ™ Ă?Ă&#x;Ă?ĂžĂ™Ă—Ă?ĂœĂ? Ă&#x;Ă?Ă“Ă˜Ă‘ ĂžĂ?Ă?Ă’Ă˜Ă™Ă–Ă™Ă‘Ă“Ă?Ă?Ë› Ă“ĂžĂ’ Í˛ Ă˜Ă?ĂžĂĄĂ™ĂœĂ•Ă?Ëœ ĂšĂ?Ă‹Ă• ĂœĂ?Ă?Ă“ĂŽĂ?Ă˜ĂžĂ“Ă‹Ă– ĂŒĂœĂ™Ă‹ĂŽĂŒĂ‹Ă˜ĂŽ Ă?ĂšĂ?Ă?ĂŽĂ? Ă™Ă? Ă?Ă?Ă Ă?ĂœĂ‹Ă– Ă’Ă&#x;Ă˜ĂŽĂœĂ?ĂŽ Ă—Ă?Ă‘Ă‹ĂŒĂ“ĂžĂ? ĂšĂ?Ăœ Ă?Ă?Ă?Ă™Ă˜ĂŽ Ă‹ĂœĂ? ĂšĂ™Ă?Ă?Ă“ĂŒĂ–Ă? Ě‹ ĂŒĂ&#x;Ăž Ă˜Ă™Ăž Ă‹Ă–ĂĄĂ‹ĂŁĂ? Ă‹Ă?Ă’Ă“Ă?Ă Ă‹ĂŒĂ–Ă?Ë› Ă™Ă•Ă“Ă‹ Ă‹Ă?Ăž Ă“Ă–Ă? ĂĄĂ“Ă–Ă– ĂŽĂœĂ“Ă Ă? ĂžĂ’Ă?Ă?Ă? Ă?ĂšĂ?Ă?ĂŽĂ? ĂžĂ™ ĂĄĂ“ĂŽĂ?Ăœ Ă‹ĂœĂ?Ă‹Ă? ĂĄĂ“ĂžĂ’ Ă Ă?ĂœĂŁĚ‹Ă’Ă“Ă‘Ă’Ě‹Ă‘Ă‹Ă“Ă˜ Ă™Ă&#x;ĂžĂŽĂ™Ă™Ăœ ĂœĂ?Ă?Ă?Ă“Ă Ă?ĂœĂ? ĂžĂ’Ă‹Ăž Ă“Ă—ĂšĂœĂ™Ă Ă? Ă?ĂšĂ?Ă?ĂžĂœĂ‹Ă– Ă?Ă?Ě‹ Ę¨Ă?Ă“Ă?Ă˜Ă?ĂŁ ĂŒĂŁ Í˛Ě‹ÍłĂ˘ Ă Ă?ĂœĂ?Ă&#x;Ă? Ă&#x;Ă?Ă“Ă˜Ă‘ Ă“Ă˜ĂŽĂ™Ă™Ăœ Ă‹Ă˜ĂžĂ?Ă˜Ă˜Ă‹Ă?Ëœ ĂžĂ’Ă? Ă?Ă™Ă—ĂšĂ‹Ă˜ĂŁ Ă?Ă‹Ă“ĂŽ Ă“Ă˜ Ă‹ Ă?ĂžĂ‹ĂžĂ?Ă—Ă?Ă˜ĂžË›

Wâ€™Bank Donates $1bn to Indonesia

Ă’Ă? Ă™ĂœĂ–ĂŽ Ă‹Ă˜Ă• Ă’Ă‹Ă? Ă‹Ă˜Ă˜Ă™Ă&#x;Ă˜Ă?Ă?ĂŽ Ă?Ă&#x;Ă˜ĂŽĂ“Ă˜Ă‘ Ă™Ă? Ă&#x;Ăš ĂžĂ™ ÍœÍŻ ĂŒĂ“Ă–Ă–Ă“Ă™Ă˜ Ă?Ă™Ăœ ĂžĂ’Ă? Ă™Ă Ă?ĂœĂ˜Ă—Ă?Ă˜Ăž Ă™Ă? Ă˜ĂŽĂ™Ă˜Ă?Ă?Ă“Ă‹ ĂžĂ™ Ă?Ă&#x;ĂšĂšĂ–Ă?Ă—Ă?Ă˜Ăž ĂœĂ?Ă–Ă“Ă?Ă? Ă‹Ă˜ĂŽ ĂœĂ?Ă?Ă™Ă˜Ă?ĂžĂœĂ&#x;Ă?ĂžĂ“Ă™Ă˜ Ă?ĘĽĂ™ĂœĂžĂ? Ă“Ă˜ ĂžĂ’Ă? ĂŽĂ“Ă?Ă‹Ă?ĂžĂ?ĂœĚ‹Ă‹ĘĽĂ?Ă?ĂžĂ?ĂŽ Ă‹ĂœĂ?Ă‹Ă? Ă™Ă? Ă™Ă—ĂŒĂ™Ă• Ă‹Ă˜ĂŽ Ă&#x;Ă–Ă‹ĂĄĂ?Ă?Ă“Ëœ Ă‹Ă˜ĂŽ ĂžĂ™ ĂŒĂ™Ă–Ă?ĂžĂ?Ăœ Ă–Ă™Ă˜Ă‘Ě‹ĂžĂ?ĂœĂ— ĂœĂ?Ă?Ă“Ă–Ă“Ă?Ă˜Ă?Ă?Ë› Ă’Ă? Ă?Ă&#x;Ă˜ĂŽĂ“Ă˜Ă‘ ĂĄĂ™Ă&#x;Ă–ĂŽ ĂŒĂ? Ă‹Ă Ă‹Ă“Ă–Ă‹ĂŒĂ–Ă? Ă™Ă˜ ĂœĂ?Ă›Ă&#x;Ă?Ă?Ăž ĂŒĂŁ ĂžĂ’Ă? Ă‘Ă™Ă Ă?ĂœĂ˜Ă—Ă?Ă˜ĂžË› Ăž ĂĄĂ™Ă&#x;Ă–ĂŽ ĂŒĂ? Ă‘Ă&#x;Ă“ĂŽĂ?ĂŽ ĂŒĂŁ Ă‹ ÍœÍł Ă—Ă“Ă–Ă–Ă“Ă™Ă˜ Ă‘ĂœĂ‹Ă˜Ăž Ă?Ă™Ăœ ĂžĂ?Ă?Ă’Ă˜Ă“Ă?Ă‹Ă– Ă‹Ă?Ă?Ă“Ă?ĂžĂ‹Ă˜Ă?Ă? Ă?Ă™Ăœ ĂŽĂ?ĂžĂ‹Ă“Ă–Ă?ĂŽ ĂšĂ–Ă‹Ă˜Ă˜Ă“Ă˜Ă‘ ĂžĂ™ Ă?Ă˜Ă?Ă&#x;ĂœĂ? ĂœĂ?Ă?Ă™Ă˜Ă?ĂžĂœĂ&#x;Ă?ĂžĂ“Ă™Ă˜ Ă“Ă? ĂœĂ?Ă?Ă“Ă–Ă“Ă?Ă˜Ăž Ă‹Ă˜ĂŽ Ă?Ă™Ă—Ă—Ă&#x;Ă˜Ă“ĂžĂŁĚ‹Ă–Ă?ĂŽË› ËŤ Ă˜ ĂœĂ“ĂŽĂ‹ĂŁ Ă Ă“Ă?Ă“ĂžĂ?ĂŽ ĂžĂ’Ă? Ă?Ă“ĂžĂŁ Ă™Ă? Ă‹Ă–Ă&#x; Ă“Ă˜ Ă&#x;Ă–Ă‹ĂĄĂ?Ă?Ă“ ĂĄĂ“ĂžĂ’ Ă“Ă? Ă˘Ă?Ă?Ă–Ă–Ă?Ă˜Ă?ĂŁ Ă“Ă?Ă? ĂœĂ?Ă?Ă“ĂŽĂ?Ă˜Ăž Ă‹Ă–Ă–Ă‹Ë› Ăž Ă“Ă? Ă’Ă&#x;Ă—ĂŒĂ–Ă“Ă˜Ă‘ ĂžĂ™ Ă?Ă?Ă? ĂžĂ’Ă? ĂŽĂ?Ă Ă‹Ă?ĂžĂ‹ĂžĂ“Ă™Ă˜ Ă‹Ă˜ĂŽ Ă’Ă?Ă‹Ăœ ĂžĂ’Ă? Ă?ĂžĂ™ĂœĂ“Ă?Ă? Ă™Ă? ĂžĂ’Ă™Ă?Ă? ĂĄĂ’Ă™ Ă’Ă‹Ă Ă? ĂŒĂ?Ă?Ă˜ Ă‹ĘĽĂ?Ă?ĂžĂ?ĂŽËœËŹËœ Ă™ĂœĂ–ĂŽ Ă‹Ă˜Ă• Ă’Ă“Ă?Ă? Ă˘Ă?Ă?Ă&#x;ĂžĂ“Ă Ă? ĘŠĂ?Ă?ĂœËœ ĂœĂ“Ă?ĂžĂ‹Ă–Ă“Ă˜Ă‹ Ă?Ă™ĂœĂ‘Ă“Ă?Ă Ă‹ Ă?Ă‹Ă“ĂŽË› ËŤ Ă’Ă? Ă‘Ă™Ă Ă?ĂœĂ˜Ă—Ă?Ă˜ĂžËŞĂ? Ă“Ă—Ă—Ă?ĂŽĂ“Ă‹ĂžĂ? ĂœĂ?Ă–Ă“Ă?Ă? Ă?ĘĽĂ™ĂœĂžĂ? Ă‹ĂœĂ? ĂœĂ™ĂŒĂ&#x;Ă?Ăž Ă‹Ă˜ĂŽ Ă“Ă—ĂšĂœĂ?Ă?Ě‹ Ă?Ă“Ă Ă?Ë› Ă? ĂĄĂ? Ă?Ă˜ĂžĂ?Ăœ ĂžĂ’Ă? ĂœĂ?Ă?Ă™Ă˜Ă?ĂžĂœĂ&#x;Ă?ĂžĂ“Ă™Ă˜ ĂšĂ’Ă‹Ă?Ă? ĂĄĂ? Ă‹ĂœĂ? Ă—Ă‹Ă•Ă“Ă˜Ă‘ Ă&#x;Ăš ĂžĂ™ ÍœÍŻ ĂŒĂ“Ă–Ă–Ă“Ă™Ă˜ Ă™Ă? Ă?Ă™Ă—ĂšĂœĂ?Ă’Ă?Ă˜Ă?Ă“Ă Ă? Ă?Ă&#x;ĂšĂšĂ™ĂœĂž Ă‹Ă Ă‹Ă“Ă–Ă‹ĂŒĂ–Ă? Ă?Ă™Ăœ Ă˜ĂŽĂ™Ă˜Ă?Ă?Ă“Ă‹Ë› Ă’Ă? ĂŒĂ?Ă?Ăž Ă—Ă?Ă—Ă™ĂœĂ“Ă‹Ă– ĂžĂ™ ĂžĂ’Ă™Ă?Ă? ĂĄĂ’Ă™ Ă–Ă™Ă?Ăž ĂžĂ’Ă?Ă“Ăœ Ă–Ă“Ă Ă?Ă? Ă“Ă? ĂŒĂ&#x;Ă“Ă–ĂŽ ĂŒĂ‹Ă?Ă• ĂŒĂ?ĘľĂ?ĂœË›ËŹ Ă’Ă? Ă™ĂœĂ–ĂŽ Ă‹Ă˜Ă• ĂšĂ‹Ă?Ă•Ă‹Ă‘Ă? Ă?Ă™Ă&#x;Ă–ĂŽ Ă“Ă˜Ă?Ă–Ă&#x;ĂŽĂ? Ă?Ă‹Ă?Ă’ ĂžĂœĂ‹Ă˜Ă?Ă?Ă?ĂœĂ? ĂžĂ™ ĂžĂ’Ă? ĂšĂ™Ă™ĂœĂ?Ă?Ăž ÍŻÍłÍŽËœÍŽÍŽÍŽ Ă‹ĘĽĂ?Ă?ĂžĂ?ĂŽ Ă?Ă‹Ă—Ă“Ă–Ă“Ă?Ă? Ă?Ă™Ăœ Ă‹ ĂšĂ?ĂœĂ“Ă™ĂŽ ĂŒĂ?ĂžĂĄĂ?Ă?Ă˜ Ă?Ă“Ă˘ Ă—Ă™Ă˜ĂžĂ’Ă? ĂžĂ™ Ă™Ă˜Ă? ĂŁĂ?Ă‹ĂœË› Ă’Ă“Ă? Ă‹Ă&#x;Ă‘Ă—Ă?Ă˜ĂžĂ‹ĂžĂ“Ă™Ă˜ Ă™Ă? Ă?Ă˘Ă“Ă?ĂžĂ“Ă˜Ă‘ Ă?Ă™Ă?Ă“Ă‹Ă– ĂšĂœĂ™Ě‹ ĂžĂ?Ă?ĂžĂ“Ă™Ă˜ Ă?ĂŁĂ?ĂžĂ?Ă—Ă? Ă“Ă? ĂŽĂ?Ă?Ă“Ă‘Ă˜Ă?ĂŽ ĂžĂ™ Ă?Ă&#x;ĂšĂšĂ™ĂœĂž ĂžĂ’Ă? Ă–Ă™Ă?Ă‹Ă– Ă?Ă?Ă™Ă˜Ă™Ă—ĂŁ Ă‹Ă˜ĂŽ Ă?Ă—ĂšĂ–Ă™ĂŁĂ—Ă?Ă˜Ăž ĂŽĂ&#x;ĂœĂ“Ă˜Ă‘ ĂžĂ’Ă? ĂœĂ?Ă?Ă™Ă Ă?ĂœĂŁ ĂšĂ’Ă‹Ă?Ă? Ă‹Ă˜ĂŽ ĂžĂ™ Ă‹Ă Ă™Ă“ĂŽ Ă–Ă™Ă˜Ă‘Ě‹ĂžĂ?ĂœĂ— ĂŽĂ‹Ă—Ă‹Ă‘Ă? ĂžĂ™ Ă’Ă&#x;Ă—Ă‹Ă˜ Ă?Ă‹ĂšĂ“ĂžĂ‹Ă–Ë›

â€œThe rapid growth in telecoms, which has an investment value of over $70 billion, with a subscriber base of over 162 million, and contributing 10.5 per cent to Nigeriaâ€™s GDP, is a clear reflection of its huge contribution to Nigeriaâ€™s economy, driven by standard regulationâ€? Former Director, Public Affairs, NCC,

Mr. Tony Ojobo

T H I S D AY Ëž ÍŻÍśËœ Í°ÍŽÍŻÍś

FG UNBUNDLES NIPOST FOR PROFITABILITY, JOB CREATION with many innovations coming to play, including online enterprises, Nigeria had become not only a development hub but also a huge and thriving mobile hub, which has caused the impact of mobile technology to be felt in all aspects of human life. â€œFor many consumers across Nigeria, the mobile phone is not just a communication device but also the primary channel to get online, as well as a vital tool to access various life-enhancing services. Mobile adoption in Nigeria has grown rapidly in recent years. Access to mobile connectivity is vital to empowering consumers and driving economic growth,â€? Agabi said. â€ŚURGED TO TAKE MEASURES TO SUSTAIN GROWTH, AVERT RECESSION amongst others.â€? Chioke, however, pointed out that the banking sector in 2017 recorded growth in earnings for the fifth consecutive year, noting that there was a big earning in the level of growth from 2014 to 2015, driven by the contraption in oil prices. He added: â€œBut ever since 2015 weâ€™ve seen that with the increasing oil prices, the banking sector which serves as a natural conduit for the economy has continued to bounce up from a growth earnings perspective, reaching a total of N4.6trillion all together industry earning for the year 2017. â€œProfitability expansion has continued for the second consecutive year following the decline in 2015 with total industry profit now at N842billion and profit after tax is just approaching N700 billion. So again, itâ€™s a very good result for the banks. â€œYou would think that for the rest of the economy â€“ I know that many manufacturers and many service companies are still struggling coming out of recession but banks donâ€™t seem to have concerns.â€? He said: â€œIt is on this premise that we have articulated a multi-sectoral economic agenda which, we believe, can provide the needed direction for an incoming government post-2019 election, and ensure inclusive and sustainable development.

How Security Layers Will Address Rise in Cryptocurrency Fraud Emma Okonji Disturbed by the global rise in cryptocurrency fraud which has led to loss of several millions in different currencies, including naira, one of the leading exchanges of cryptocurrency in Nigeria, Luno, has said the deployment of additional layers of security would go a long way in addressing the challenge, especially for people that are above 60 years of age who are not always online to monitor their accounts. According to Luno, the additional security layer would help customers in Nigeria where the market is patronised by thousands of people most of whom trade in ignorance, to create awareness and update security strategies to keep up with new attack trends. Having introduced an extra layer of security for its customers that are over 60 years of age, Luno is calling on all customers above the age of 60 years to send their identity documents as soon as they open a wallet or account, through Luno. â€œThis added layer of security will help combat fraudulent and scammer activities that target vulnerable customers, as we will be able to immediately verify their identity,â€? Luno said in

a statement. Rise in scams is one of the main reasons for investorsâ€™ dwindling confidence in cryptocurrencies. This has seen the price of frontline cryptocurrencies like bitcoin, Ethereum underperform in 2018. It is also responsible for increased push for more regulatory oversight on the market from different quarters. In August, the City of London Police noted that

there had been 203 reports of cryptocurrency fraud in the months of June and July. Data from Action Fraud, its national fraud and cybercrime reporting centre disclosed that victims lost ÂŁ2.1 million, which is an average of ÂŁ10,096 per person. Director of Action Fraud, Pauline Smith, in an interview with the Financial Times recently, noted that â€œopportunistic fraudsters

are taking advantage of this market, offering investments in cryptocurrencies and using every trick in the book to defraud unsuspecting victims.â€? Also in August, 22 year old Aarni Otava, a millionaire from Finland reportedly lost 5,564.4 bitcoins, after inadvertently sending them to fraudsters in Thailand. The Australian Competition and Consumer Commission

(ACCC) also raised scam alerts because of a 12 month high incidence of scams involving cryptocurrencies. Australia-based bitcoin platform, bitcoin.com.au recently highlighted four of the major cryptocurrency scams of 2018 to include OneCoin, Centratech, Dragon Coin, and NCR Coin. These are fake altcoins that have defrauded unsuspecting customers of their money.

DISCUSSING FINANCIAL INCLUSION

L-R: Executive Secretary, Association of Licensed Telecommunication Operators of Nigeria (ALTON),Gbolahan Awonuga; Head, Mobile Financial Service, 9Mobile,Oluwaseun Omotosho; Head of Mobile Money, Globacomm, Esaie Diei; MFS Manager, MTN, DiJane Amadi; Revenue Assurance Manager, ntel, Ismaila Suhailu and Manager, Sales Support & Performance Analysis, Samuel Akinsola, at the inaugural meeting of the telecommunications ďŹ nancial committee on deepening ďŹ nancial inclusion and literacy in Nigeria that took place in Lagosâ€Śrecently

IXPN Records Upswing in Internet TrafďŹ c Emma Okonji The Internet Exchange Point of Nigeria (IXPN) said it populated Nigeriaâ€™s local internet traffic on its network by over 10, 000 per cent in the last five years. It also disclosed that it is currently exchanging over 110 gigabits per second of traffic. This came at a time the federal government is bent on generating and hosting local internet traffic within Nigeria to boost local content development and to further drive broadband

penetration in the country. The Chief Executive Officer of IXPN, Mr. Muhammed Rudman, who made the disclosure in a statement in Lagos, explained that the measurement of the growth in traffic was for 2013-2018, adding that it largely attributed to the connection of some international content service providers to the Nigerian exchange point. According to Rudman, recently Facebook, Akamai, China Telecoms, Angola Cables and a huge number of the service providers in the country, were connected

to the Exchange Point and they are exchanging traffic locally. â€œFor us, hitting 10,000 per cent traffic and exchanging over 110 gigabits per second in the last five years is a huge success. It goes to show we are achieving our mandate, which is to facilitate internet operations in Nigeria and to localise traffic as well as reduce local internet routing cost,â€? he noted. He added that the coming together of local and international players to connect to the IXP is in tandem with

the Nigeriaâ€™s local content quest because about 40 per cent of the internet traffic being exchanged in the country is presently local occasioned by IXPN. Rudman said â€œwhat this means is that the speed of the internet is now faster and the cost is more affordable, and IXPN will continue to facilitate internet operations in Nigeria with the sole aim of localising traffic as well as reducing local internet routing cost.â€? Ultimately also, this would reduce reliance on expensive international

transit for exchanging local traffic between operators, and improve efficiency of their operations and communications, he said while assuring that with the current growth rate, Nigeria can target 70 per cent of local traffic in the next two years. An Internet exchange point (IXP) is a physical infrastructure that allows several Internet Service Providers (ISPs) and network operators to exchange traffic between their networks, generally referred to as autonomous systems.

Facebook Moves to Address Fake News with Tech Solution Nosa Alekhuogie Group Business Editor

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

Ă™ĂŽĂŽĂŁ Ă‘Ă?Ă˜Ă? AgriBusiness/Industry Editor

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

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Facebook has introduced a new solution known as Factchecking, into the Nigerian market to fight inauthentic feeds, improve the accuracy of news as well as reduce the spread of misinformation on its platform. The company which collaborated with Africa Check and AFP on the project announced this in Lagos recently. Africa Check, which is Africaâ€™s first independent fact-checking organisation and AFP, are both part of a global network of fact-checking organisations, certified by the

International Fact-Checking Network. According to the company, the third party fact-checking programme, which has been launched earlier in Kenya and South Africa, was aimed at tackling false news and also to improve the quality of news people find on its platform. The Facebookâ€™s factchecking project relies on feedback from the Facebook community, as one of many signals Facebook uses to raise potentially false stories to fact-checkers for review. Local articles would be fact-checked alongside the verification of photos and videos. If one of the fact-checking partners

identifies a story as false, Facebook will show it lower in News Feed, significantly reducing its distribution. Speaking at the launch, the Facebook Public Policy Manager, Anglophone West Africa, Akua Gyekye, explained that when third-party fact-checkers write articles about a news story, Facebook will show these in related articles immediately below the story in News Feed. She said: â€œNigeria is important to us and weâ€™re committed to taking our responsibility seriously in tackling the spread of false news. â€œWe know that there is no

silver bullet, and believe that a multi-pronged approach is the best strategy, and a key solution is identifying and demoting false news. Once a fact-checker rates a piece of content as false, weâ€™re able to reduce its future views by an average of 80 per cent helping to curb economic incentives and reduce its spread. â€œPage Admins and people on Facebook will also receive notifications if they try to share a story or have shared one in the past thatâ€™s been determined to be false, empowering people to decide for themselves what to read, trust, and share.â€? She added Strategic Partner Manager,

Media Partnerships, Facebook Africa, Jocelyne MuhutuRemy, explained that facebook would identify potential false news using various signals and fact checkers to proactively identify stories on their own. â€œWe are pleased to partner Africa Check and AFP to expand our fact-checking efforts into Nigeria, joining the recently launched South Africa and Kenya programmes. Fighting the spread of misinformation via news articles, photos and videos will help to build a better informed community and help verify the stories flagged by our community in Nigeria,â€? Muhutu-Remy said.

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Disruptive Technologies and New Business Models Emerging technologies such as the Internet of Things, Artificial Intelligence, Machine Learning, among others are transforming economic structures and business models, writes Emma Okonji The migration from analogue to digital technology, occasioned by the evolution of emerging technologies, is one big thing that has transformed businesses and economies globally and within Nigeria. Software application developers are busy thinking of new ways of transforming businesses and economies, using digital technology solutions. And Nigeria, just like other developing countries of the world, is beginning to take advantage of the emerging technologies to further transform businesses and the Nigerian economy. While Internet of Things (IoT) is driving global connectivity and developing communication between humans and devices, Artificial Intelligence (AI) and Machine Learning (ML) are the latest technologies through which machines are developed in the form of robotics that have the capacity and artificial intelligence to multitask and perform human activities in all aspect of human endeavours. Through these technologies, businesses are scaling up faster, and human interface in business is gradually being reduced, while giving room for greater work efficiency, thereby saving cost for organisations and economies. Technology experts have strongly advised organisations to either embrace emerging technologies or lose grip of their businesses and stand the risk of being overtaken and left behind in todayâ€™s world, where technology is driving everything. In this regard, Oracle is a technology company that has developed lots of technology solutions that solve specific challenges, thereby enhancing businesses and economies. Oracle has been in Nigeria for several years, doing the business enterprise solution applications that are helping businesses to grow and make more profit, while enhancing customersâ€™ experience. Giving testimony of how Oracle solutions have impacted on the business of the Nigerian Custom Service during the 2018 Oracle Impact Technology Summit organised for organisations and partners by Oracle Technology Company in Lagos recently, the Assistant Comptroller General of the Nigerian Customs Service, Benjamin Terseer Aber, spoke on how the deployment of Oracle solutions helped Customs to raise as much as N140 billion in one month, precisely in the month of August 2018, for the federal government, which sums up to N1.7 trillion yearly, if the solution is deployed in the next one year. According to Aber, Customs service was generating less than N400 billion in one year as at 2005, before the deployment of the technology solutions from 2013. â€œWe have since moved from manual documentation to automated documentation. We have deployed software solutions from Oracle that manages both the front-end and the back-end services of Customs,â€? Aber said. Giving details of how the technology automation works, Aber said, â€œbusiness automation remained key for us at Customs to enable us move away from manual processes of clearing of goods.â€? â€œWhat we did was to introduce the Nigeria Integrated Customs Information System (NICIS 11) software application from Oracle to connect all government agencies on the same platform to enable us interface electronically with all other government agencies that are involved in controlling international trade transactions. â€œWhen a clearing agent makes bank payment to Customs or to any of the government agencies and the bank uploads the payment on the NICIS 11 platform, we automatically see the payment derails online, and this has compelled all clearing agents that do clearing business with Customs to be transparent without trying to cut corners and shortchanging government.â€? He said the Customs also used another technology tool called Tax Identification Number (TIN). Country Manager, Oracle Nigeria, Mr. Adebayo Sanni, said in todayâ€™s development, technology innovation is not only transforming businesses, but also transforming the way individuals work, play and learn. According to him, Oracle Impact Technology Summit was designed to bring future technology to meet the needs of todayâ€™s businesses.

The Era of Robotics

One of the greatest advancements in technology, is the use of robotics to perform most of the human tasks across all walks of life, be it in manufacturing, medicine, judiciary and in telecommunications, among others. Robots that have more sensory capacities than humans are being developed today

to assist human in performing most of the human tasks, through AI. Based on the excess memory it has, it can study human behaviour in order to perform human tasks perfectly. Robots are known to interface with human as front desk machine that could provide answers to any questions raised in seconds, since it has inbuilt memory with excess capacities. In most cases, robots are used to perform human tasks in the factory like processing and packaging in manufacturing and assembling factories. Although many have argued that robotics, through Artificial Intelligence, will take away human jobs and create unemployment for the citizens, but technology experts have said robots would only complement human efforts and create new forms of jobs for citizens, since the robots are controlled by humans. The bottom line, according to technology experts, is the ability to achieve work efficiency, scalability and profitability. In judiciary, there are cases where robots are used to try court cases and pass judgements in few days as against the elongated court cases that are handled by human lawyers and judges. At a recent judicial workshop organised for judges on legal issues in telecommunications, the Managing Partner, Technology Advisors, Basil Udotai, had advised judges to embrace AI in the prosecuting of legal cases and in passing legal judgments, as AI has become the global norm for the judicial system. DSN Bootcamp and AI initiative Just last week, the Data Science Nigeria (DSN) held its annual summit which also

focused on AI in driving development, and addressing specific challenges. Worried about the inability of Nigeria to meet its financial inclusion target by 2020, considering the large number of Nigerians that are still financially excluded and do not have access to banks and credit facilities, DSN assembled 150 Nigerians for training on AI. Executive Director, SystemSpecs, Mr. Deremi Atanda, described AI as a dimension of technology that extends the human capacity to look through unlimited data and then develop machines with capacities to perform certain tasks, at a very fast rate, using the unlimited data. The convener, DSN Bootcamp, Mr. Olubayo Adekanmbi, said the Data Science Nigeria Artificial Intelligence Bootcamp was conceived to complement the initial skills that most of â€œour start-ups acquired when they were in school. According to him, the current syllabus of our university system does not cover global contents in terms of technology evolution.â€? â€œSo in order to bridge that gap, we decided to float DSN AI Bootcamp to further train Nigerians who have basic skills in computing, to enable them be at pal with their colleagues from other parts of the developed world. â€œThe essence is to train and raise quality students who can use Machine Learning and Artificial Intelligence to solve Nigeria challenges, create employment and develop solutions that will address specific challenges in the country, like financial inclusion challenges. â€œPoverty is a serious challenge in Nigeria and the poor ones do not have access to funds and they are highly excluded from the digital inclusivity in the Nigerian financial sector. So the 150 candidates were also trained on how to use AI and ML to generate data that would be analysed to address the digital inclusion challenges of Nigeria,â€? Adekanmbi said.

FinTech as Disrupters

Also, since their emergence, financial technology companies (fintechs) have caused a lot of positive disruptions in the financial services sector, where they have created technology solutions that have changed the way banks operate and attend to their customers. Through fintech solutions, bank customers can stay in the comfort of their homes and offices and transact financial business with their banks, using their mobile phones, without going to the banking hall. A lot of new banking solutions have been developed that are currently driving financial services in Nigeria and in other countries of the world. The President of Institute of Software Practitioners of Nigeria (ISPON), who doubles as the Chief Executive Officer of Precise Financial Service (PFS), Dr. Yele Okeremi, called on banks and other financial institutions, to see fintech players as their business partners and collaborate with them to further enhance financial transactions in the banking sector, through their technology solutions.

AI and ML

Addressing the usefulness of ML and AI, in a recent statement, the Managing Director, Technology Accenture Nigeria, Niyi Tayo said both would become key enablers in a new era

of digital experiences and value propositions, but the revolution needs a human touch. According to him, even though both ML and Al would be key requirements in today and future business, the digital revolution needs a human touch. Tayo, said AI would continue to expand into every facet of our lives, driving better business decisions and user experiences throughout a wide range of markets and industries. â€œAI has effectively become a new user interface, making our interactions with the increasingly advanced technologies that surround us easier and more seamless. Intelligent digital assistants like Google Now in our smartphones, is helping us reach out to others, find information, make notes and navigate the physical world. â€œMeanwhile, Amazon Alexa and Google Home have given us the ability to order goods and services without ever seeing a screen,â€? he said. â€œThese developments are constantly making it easier to use advanced technology effectively. Instead of adapting to our machines, we are teaching our machines to adapt to us. But as we train our artificial intelligences to approve loans, identify job candidates and treat patients, we must be mindful of our responsibility to society. â€œIn a future where AI has the power to facilitate every touch point from commerce to public services, we must strive to ensure it remains a force for good. We, therefore, have to nurture our AI as with great power comes great responsibility,â€? Tayo added.

Unlocking the â€˜Black Boxâ€™

According to Tayo, it was time for Nigerians and the rest of the globe to start unlocking the power of technology that has remained coded in the â€˜Black Boxâ€™ for ages. Training AI is a complicated process. Take deep learning, for instance: a pattern recognition method that mimics the way the human brain works and applies those principles to neural networking. â€œThis technique has allowed businesses to make substantial progress in highly complex fields such as image recognition. Where humans see a cat, a goat or a tomato, a computer will only see a field of pixels. â€œDeep learning has given computers the ability to recognize what those pixels represent â€“ but we canâ€™t fully explain how the system works, even though we programmed the basics ourselves,â€? he said. He added, â€œThis is a surprisingly common phenomenon. The neural network powering Google Translate invented its own common language to aid in translations, even though it wasnâ€™t specifically instructed to do so. â€œNaturally, this lack of insight into the inner workings of AI is rarely a problem when the results are positive. If efficiency is up and users are happy, why worry,â€? he asked. He therefore advised Nigerians to join the new wave of technology and match towards rapid growth and profitability. In order to seize the growth opportunities that AI provides, Tayo advised companies to address core ethical considerations and establish a set of value-driven requirements to guide the deployment of their AI.

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LG Introduces Tech Innovative Devices Emma Okonji LG Electronics has assured its customers that it will continue to strengthen family bond through its innovative devices. Managing Director, LG Electronics, West Africa Operation, Mr. Taeick Son, said the company was committed to innovative designs that would enable lifestyle convenience while creating seamless

user experience of its products. â€œToday, families are paying more attention to healthy lifestyle and appreciating the importance of having a family meal. These have led to a rising interest in getting smarter in the kitchen. We want to make life better for everyone by providing affordable devices,â€? he said. According to Son, â€œLG is offering consumers even more

exciting choices when it comes to designing their kitchen with LGâ€™s fastest-growing feature for the kitchen â€” LG Instaview.â€? Analysing the product, Son said when you knock twice on the mirrored dark-tinted glass panel on the right side door of an LG Instaview Door-in-Door refrigerator, the interior lights come up to reveal the contents without letting cold air out.

â€œA clear barrier called a coldsaver panel between the rest of the fridge and the door-in-door compartment reduces air loss even more. Savvy consumers who want to save time and money will likely learn to put refrigerated snack foods and drinks in the Door-in-Door compartment for quickest access,â€? he said. LGâ€™s collection of high-end doorin-door refrigerators set the gold

standard for food preservation. In addition to their innovative and ergonomic designs, these refrigerators use insights gleaned from decades of research to lock in cold air and prevent food from degrading. He explained that LG designed the LG EasyClean cooking gas for consumer use. The demand of cooking does not only lie in its preparation but

cleaning the appliance inside out is also a great deal to making it ready for the next usage as this goes a long way to making cooking experience lovely and the kitchen a warm and convenient space to encourage loved ones to join in cooking because when itâ€™s clean, good health is assured. Son said LG kitchen package comes with 99.99 per cent anti-bacterial, while NeoChef

Firm Takes e-Commerce to Grassroots Emma Okonji Synergitrust, one of the leading global social marketing network platforms, has unveiled its brand in Nigeria that is set to take online shopping to the grassroots. Synergimart Digital Marketing Limited, the operators of Synergitrust, is an IT-driven global marketing company operating from Lagos. The company kick-started its pre-launch operations with the unveiling of its flagship product Synergitrust, a global marketplace where buyers meet sellers in a socially friendly online environment. Speaking at the launch, its managing director/CEO Mr. Olumuyiwa Ojo said: â€œThe unveiling of the iconic social marketing network, will no doubt offer a unique opportunity to bridge the gap between buyers and sellers of goods and services within a well-defined market space that will encourage financial inclusion. â€œFor one to enjoy the full benefits of the platform the individual is required to register to become a member and thereafter can actively tap into business opportunities therein and successfully carry out transactions without necessarily being physically present

to initiate them.â€? Chairman of the company, Mr. Okey Ogunjiofor assured the public of highest level of professionalism on all transactions on the platform. â€œThe company is set to fulfil her vision of becoming the foremost global marketing company driven by technology, to take her rightful position in eCommerce world within the next five years, Ogunjiofor said, while emphasising that trust is key to the company and that the company will do everything possible to project the brand and Nigeria in a positive light to the world,â€? he said. â€œSynergitrust is taking online shopping to the grassroots and in the process creating a new tribe in eCommerce. With Synergitrust, you can buy, you can sell, you can make money and do lots more, because the fun of online shopping has moved to a new address Synergitrust is set to change many lives around the world for good,â€? Ogujiofor added. According to Ojo, Synergitrust is a disruptive innovation and robust e-Commerce system designed and developed on business-to-business (B2B), business-to-customer(B2C) and customer-to-customer (C2C) eCommerce business models. It has three main components that are knitted together.

Vodacom Wins Awards Vodacom Business Nigeria was honoured with four awards at the 2018 Nigeria Technology Innovation and Telecoms Awards recently. The awards, organised by the Association of Telecommunications Companies of Nigeria, aims to recognise organisations and individuals at the fore front of technological advancement and innovation in the Ztelecoms industry. Vodacom Business Nigeria was recognised as Enterprise Solution Provider of the year, IoT Solutions Provider of the year for the second consecutive year and as Managed Service Provider of the year. For the companyâ€™s stellar performance in providing optimum services for its customers both locally and internationally, it also received the coveted Telecom Business of the Year award. Speaking at the event, Managing Director, Vodacom Business Nigeria, Lanre Kolade, said: â€œWe are honored to accept the awards. Opportunities such as these remind us of the importance to go beyond just providing a service to clients.

We aim to collaborate and enable large and small businesses with specific problem solving solutions that make the lives and businesses of our customers more efficient and ultimately more profitable. Our gratitude goes to these customers whose businesses are at the epicenter of the development of the Nigerian economy and look forward to exploring opportunities in future.â€? Vodacom Business Nigeria is taking the lead in the telecoms industry by providing tailor-made solutions that maximise productivity regardless of location. We ensure businesses are confidently connected. According to Kolade: â€œAs the world progresses further into the digital age and people and services expand across borders, the need for a reliable end to end managed network service becomes invaluable. Our managed services provide the same high level of comfort for global businesses with reach across different territories as it does for new startup businesses with partners and stakeholders on different continents.â€?

MERITORIOUS AWARD

L-R: Group Executive Director, Broadbased Communications Ltd, (BBC), Mr. Chris Erewele; MD/CEO, Henry Iseghohi; MD/CEO, Galaxy Backbone, Mr. Yusuf Kazaure; Executive Director, Business Development, BBC, Mr. Chidi Ibisi and Group Sales Manager, Mrs. Chinenye Onuoha-Areola, during the presentation of Telecom Wholesale Company of the Year 2018 award to Broadbased Communications in Lagos...recently

T-Mobile, Ericsson Seal $3.5bn Pact Ericsson and T-Mobile have announced a multiyear $3.5 billion contract to support T-Mobileâ€™s nationwide 5G network deployment. Under the deal, Ericsson would provide T-Mobile with the latest 5G New Radio (NR) hardware and software compliant with 3GPP standards. Bridging from a nationwide LTE Advanced network to 5G, T-Mobile will leverage Ericssonâ€™s market-leading 5G portfolio to expand existing LTE capacity needs while future-proofing the network. The contract also encompasses Ericssonâ€™s digital services solutions, including dynamic orchestration, business support systems (BSS) and Ericsson Cloud Core, enabling T-Mobile to rapidly launch innovative and groundbreaking 5G experiences to customers. Chief Technology Officer, T-Mobile, Neville Ray, said: â€œWhile the others just make promises, we are putting our money where our mouth is. With this new Ericsson agreement we are laying the groundwork for 5G â€“ and with Sprint we can supercharge the 5G revolution.â€?

President and Head of Ericsson North America, Niklas Heuveldop, said: â€œWe have recently decided to increase our investments in the US to be closer to our leading customers and better support them with their accelerated 5G deployments; thereby bringing 5G to life for consumers and enterprises across the country. This agreement marks a major milestone for both companies. We are excited about our partnership with T-Mobile, supporting them to strengthen, expand and speed up the deployment of their nationwide 5G network.â€? 5G promises to deliver very high data speeds, extreme low latency, ultra-high reliability, energy efficiency and extreme device densities, which will be realised by the development of LTE in combination with new radio-access technologies. Under the terms of the new deal, Ericsson will supply hardware and software from its market-ready 5G Platform, which includes its strengthened Ericsson Radio System portfolio, across all spectrum bands available to TMobile.

Firm Bags Telecom Award Broadbased Communications, which operates a non-compete, nondiscriminatory, open access metropolitan fiber optic network, covering all the major business districts in Lagos, has been awarded the Telecom Wholesale Company of the year 2018 award. The company was recognised at the Nigeria Tech Innovation and Telecom Awards 2018, organised in Lagos recently by the Association of Telecoms Companies of Nigeria (ATCON). The company provides fiber optic network connectivity for mobile network operators, 4G Network operators, all the submarine cable landing stations, all major internet service providers (ISP), all data centres, Nigeria Internet Exchange Point, major global telecom operators, all the banks, the Nigerian Stock Exchange, all electronic payment switching and processing companies, oil companies, major corporate firms and residential estates in partnership with other telecom service providers. Speaking on the award, the Managing

Director/CEO of the company, Henry Iseghohi stated that the award is a testament to the companyâ€™s dedication to the open access, non-compete model, the goodwill of esteemed customer base, the hard work and dedication of the staff of Broadbased Communications. The Group Executive Director of the company, Mr. Chris Erewele, stated that the award would spur the Broadbased team to remain committed to the provision of quality services to its customers. He appealed to various stakeholders in the industry to work together to address the issues facing the industry including indiscriminate destruction of cables by road construction companies in Lagos. The Executive Director, Business Development, Mr. Chidi Ibisi said in order to address the needs of our customers, they install their cables with a fleet of 11 horizontal drilling equipment with redundant cable routes to over 20 points of presence (PoP) in Lagos with packet transport network nodes in each PoP to automatically reroute the traffic in case of a cable cut.

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Firm Raises â‚Ź360,000 Equity Investment Stories by Raheem Akingbolu

One of the fastest growing neighborhood market companies in Nigeria, SoFresh has signed an equity investment deal of â‚Ź360,000 with the Inclusive Impact Investments (Triple-I). According to the new partner, the transaction was in tandem with Triple-Iâ€™s goal to increase social impact in developing countries. Thus, SoFresh is strategically placed as a recipient of the investment, as a small and medium enterprise in Nigeria. In a statement jointly signed by the two organisations, it stated that the investment would allow SoFresh receive technical support to further pursue its strategic transformation goals, in line with its mission to ensure that healthier food options are available to Nigerian across the country. It was also stated that the investment will increase the supply and delivery options for fresh, safe, nutrient-rich food. Speaking on the partnership, the CEO of SoFresh, Olagoke Balogun stated that the values of Oxfamâ€™s Triple-I which is â€œImpact Firstâ€?, aligned with that of So Fresh, â€œAs an organisation we understand that nations thrive and succeed on the backdrop of an energetic and healthy populace. â€œHence beyond providing easy access to Fresh Healthy Meals, we inspire and motivate citizens to

adopt a healthy lifestyle. We are very excited about this growing partnership. By investing in us, they can continue to chart out a path to meaningful growth and create a brighter future with a large social impact footprint i.e. greater employment, higher income equality and better access to relevant services and products for people living in poverty. â€œOn the other hand, SoFresh will grow its business profitably and sustainably, while fulfilling its mission of â€˜Inspiring everyone to live fresh and live healthyâ€?. In line with the company mission- â€˜Inspiring people to Live Fresh, Live Healthyâ€™ , the indigenous brand recently opened an outlet in Yaba, a suburb in Lagos Mainland. The new outlet opened on the 27th September 2018 to joyful celebrations and wide acceptance by the people of Yaba, as customers trooped in. Speaking on the new development, Olagoke said the company was committed to making healthy food accessible and ultimately ensure good health and wellbeing for all Nigerians. â€œWe seek to bring the SoFresh Healthy life closer to the people by expanding our reach and opening more Outlets across the country. The Yaba Outlet being the Sixth is an evidence of our desire to build a healthy nationâ€?.

Mantrac Introduces Excavators to Nigeria Segun James Following the expansion in the Nigerian construction industry, Mantrac Nigeria Limited, one of the leading marketer of heavy duty construction equipment in the country, has introduced a new series of excavators to the country. Making this known, the Managing Director, Mantrac Nigeria Limited, Mr. Ahmed Ragab, said the 320 GC, 320 and 323 are the next generation of Caterpillar excavators which were designed to match customersâ€™ productivity and cost target. He added that the machine has an enhance operating efficiency, lower fuel and

maintenance cost and improve operator comfort compare to the previous CAT models. According to him, there are more benefits attached to these novel excavators as the new series boast of the industryâ€™s highest standard factory, well equipped technology to boast productivity and all the models come with the famed integrated CAT connect technology for operating efficiency by up to 45 per cent over traditional grading operation. Ragab described the novel excavator as a machine that offer guidance for depth, slope and horizontal distance to grade, the CAT excavator grade with 2D system and its helps operators to reach

desire grade quickly and accurately, adding that the new generation excavator has an e-fence feature that is empowered to work safety under structure or near traffic by preventing any part of the excavator from moving outside operator defined set point. The standard 2D system can be upgraded to CAT GRADE with advanced 2D and CAT GRADE with 3D. He stressed that the novel excavator has capability to save up to 25 per cent fuel usage and reduce maintenance cost by 15 per cent. With these features couple with the design that increase operator performance, it makes investing in these new

wonder-worker excavator a profitable business to put your capital, he said. Also speaking, the General Manager Machine sales, Mr. Mohammed Ibrahim, said that the Mantrac training school located within Mantrac centre in the country would be training applicant on how to operate the novel excavators. Ibrahim, disclosed that the training period would not take time because the machine is built in such a way to allow easy usage and controls; while also adding that a special technician sponsorship program is available for Nigerians, who are interested in picking up a career in that area and it is on their web site for Nigerians to utilise.

COURTESY VISIT

Firm Reaffirms Commitment to Nigerian Consumers In its 50 years of doing business in Nigeria, C.Woermann (Nigeria) Limited has restated its commitment to always provide genuine and reliable products to its customer, saying over the past five decades, the company has provided support for Nigerian businesses by supplying them with world-class technical equipment and services. At an event recently held in Lagos to mark its 50 years anniversary, the Managing Director of C.Woermann Nigeria, Mr Klaus Okunowski, described the feat as a major achievement made possible by its reliable international suppliers, loyal customers and dedicated employees. â€œAs a company, we are proud to have achieved significant successes in Nigeria since 1968 even in light of the several ups and downs in the economy. We have consistently provided Nigerian businesses and dealers with high-quality technical equipment from reputable international equipment manufacturing companies across Europe, brands like Stihl, Makita, Deutz, Liqui Moly, Mann Filters, Wood Mizer, and Fischer, amongst several others â€œWe also have an after sales service workshop that has been very supportive to our numerous

customers, and also a training centre where we train staff of our clients on how best to use our products,â€? Okunowski said. Okunowski attributed the sustained success of the company to the companyâ€™s policy of supplying only quality and genuine products. He stressed that, â€œthe support of our suppliers around the world, the unflinching loyalty of ourclientele nationwide and the commitment of our hardworking staff has kept us going, helping us achieve all the milestones that we have recorded in spite of the challenges.â€? Speaking on the prospects of the company, the Head Automotive Department, C.Woermann Nigeria, Mr. Dennis Kannan, assured that the company would continue to make relevant improvements while providing solution-driven equipment and services for its clients. â€œAs we reflect on our successes, we intend to constantly rethink our processes, systems and approaches in line with trends in technological advancement globally. We are open to opportunities that will constantly and continuously add value to our customers for their social and economic developmentâ€? Kannan said.

L-R: Chairman, Eko Auto Parts Dealers Association, Chief Sylvester Ehim; Head, Proposition & Products, Sterling Bank Plc, Adaora Ojukwu; Vice Chairman, Eko Auto Parts Dealers Association, Mr. Francis Udeh, and Alpha Squad OďŹƒcer, Sterling Bank Plc, Abayomi Sawyerr, during a courtesy visit by Sterling Bank to the association in Lagosâ€Śrecently

New TV Brand Enters Nigerian Market In its quest to redefine Nigerian viewing experience, The Creative Life Television otherwise known as TCL TV has been unveiled for Nigerian viewers. The launch was witnessed by major home appliance dealers and top business leaders across Nigeria. According to the promoters of the brand, the new television brand which was said to be among the best in the world and Americas fastest growing band birthed in Nigeria with improved picture resolution, viewing experience and a value based pricing model. While introducing the product

to media and dealers in Lagos, the Chairman of TCL, Mr.Adnan Mehdi said, â€œTCL the fastest growing brand in technology is growing to become the number one in the nearest future. We are doing everything possible to offer this premium brand to home in Nigeria. â€œWe have established a new entity for TCL to build trust , transparency and confidence. We hope you enjoy this experience,â€? he said. TCL being a global manufacturer of smart products and provider of internet application services was founded in 1981. It has grown from a small

joint venture producing audio tapes in Huizhou into a global corporation, which engage in a wide range of business such as telephone, TV, mobile phones, refrigerators, washing machines, air conditioners and many more. According to Mehdi, ever since its invention in 1981, the brand has globally gained recognition with 19 years of international development history that has produced 13173307 sets taking 27 per cent in the North American Market, South America 47 per cent and Europe 73 per cent. He said, the brand is looking to take a major chunk of the

entire African market with its entry through Nigeria. The marketing manager of TCL, Jeff Yao said, the this brand has been designed to meet consumersâ€™ television demand. â€œOur cumulative investment is over $278 million and we are committed to serving our customers to bring our global community togetherâ€? he said. To achieve this, we have designed corporate social responsibility activities that will directly impact the communities and innovative advertising techniques that will help dealers and retailers penetrate the market.â€?

N-BA Rallies Support for Entrepreneurship among Youths The Nigeria-Britain Association has called on stakeholders in the economy to encourage entrepreneurship among youths describing it as one of the ways to secure the future of any nation. The association stated this at this yearâ€™s edition of its presidential cocktail, an annual signature event to honour

remarkable feats. Speaking at this yearâ€™s edition where a young talented Nigeria, Miss Bukola Adeogun, emerged the winner of the 2018 N-BA Fashion Designer Competition, the 49th President of the Association, Shola Tinubu, said determination to lift talented individual in the society in-

formed while the competition was inaugurated. â€œBeside the primary aim of fostering relation between Nigeria and Britain, N-BA is interested in promoting and developing young talents in Nigeria. We want to motivate and mentor them to overcome the inertia of start-ups, which

gave vent to the Nigeria-Britain Association (N-BA) to sponsor a fashion competition to encourage entrepreneurship among youths,â€? He further stated that the competition, which was organised in partnership with GMYT fashion academy, targeted upcoming designers between the ages of 13 and 30.

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Saving Lives through CSR Raheem Akingbolu captures the mood of the society as regards the importance of good hygiene and proper hand washing habits for healthy Nigerian families, citing the example of Dettolâ€™s Corporate Social Responsibility initiative As Mama Enitan moved towards her grandson, the little boy knew his grandma was going to shout at him for playing with sand. The 4-year-old boy, who came to spend holidays with his grandmother, found it amusing to join other children outside his grandparentâ€™s home to engage in various activities. As he tries to run away to wash his hands in the kitchen, he started to dust the sand off his shirt. â€œI have told you that playing with the sand is not hygiene. Children can easily pick up worms and parasites from it. I would not want your parents to complain when they come to pick you at the weekend that I have overindulged you,â€? retorted Mama Enitan. Playing in the sand can be a great opportunity for children to have unstructured play time which is important for creative development. Playing outside offers many children, who are usually stuck in confined spaces most of the day, the chance to engage other children in activities that offer physical and mental health benefits. Unfortunately, most children after playing outside are not as conscious of personal hygiene as they should be which increases their risk of illness. Added to the fact that access to safe water and sanitation remain a major challenge in Nigeria. Many homes, healthcare facilities and schools still lack antibacterial soap and clean water for hand washing, and this puts the health of people, particularly young children, at risk from diseases such as diarrhoea, which is usually caused by poor hygiene, poor sanitation and contaminated water. Ironically, mothers are worse off. The knowledge on handwashing with soaps even among mothers, who should be the custodian of such knowledge is low in different parts of Nigeria. In Northwestern Nigeria, a study among 217 mothers in a rural community found the practice was abysmally low during care of under-fives. In 2016, researchers reported in the Savannah Journal of Medical Research and Practice that 59.4% had inadequate knowledge of handwashing with soaps. Although a majority (85.7%) of them reported washing their hands with soap within 24 hours preceding the study, only 38.2% did so before feeding a child or after cleaning a childâ€™s buttocks (41.9%). There was a statistically significant association between motherâ€™s level of education and her knowledge level of handwashing with soap. Children need to wash their hands regularly throughout the day, to prevent the spread of illnesses. Hands pick up germs throughout the day when a child touches objects (including hard surfaces like benches and toys), food and other people or body fluids. The simple act of washing hands with soap or ash and waterâ€”particularly at critical moments, including after using the toilet and before handling foodâ€”can reduce the incidence of diarrhoea among children under five by almost half, and respiratory infections by nearly a quarter. World Health Organisation and UNICEF in a report titled Progress on Drinking Water, Sanita-

tion and Hygiene: 2017 Update and Sustainable Development Goal Baseline indicated that about 2.1 billion people across the world lack access to safe, readily available water at home and 4.5 billion lacks safely managed sanitation. According to the World Health Organisation, diarrhoea disease is the second leading cause of death in children under five years old and is responsible for killing around 525,000 children every year. These deaths can be prevented through practicing adequate sanitation and hygiene habits like simple hand washing with soap which can break the chain of infection. In turning hand washing into an ingrained habit to save lives, the Global Handwashing Day is celebrated annually on October 15 to increase awareness and build the hand washing habit. Considered as the gold standard in germ protection, Reckitt Benckiser, the producer of Dettol the worldâ€™s leading antibacterial brand, has been committed to spreading the awareness around hand hygiene amongst children across the globe. Its vision is to have a world where people are healthier and live better. By advocating proper handwashing, RBâ€™s ambition globally since 2016 has been to make lives of 1.2billion people healthier and happier by improving their hygiene habits. Speaking about Dettolâ€™s 2018 Global Handwashing

Day activities, General Manager, RB West Africa, Mr.Dayanand Sriram stated, â€œDettol has been the trusted champion for good health and hygiene for over 50 years in Nigeria, and we believe that it is important to inculcate good habits such as proper handwashing at an early age. A simple act of washing hands with soap can prevent illnesses and arrest diarrhoea related deaths. This is why we are continuing with the tradition of driving habit change, and provision of needed infrastructure. â€œOver the past 7 years, Dettol has provided over 32 handwashing sites and educated over 7 million children, parents and teachers about the importance of handwashing through the School Hygiene Program, which is a mass education program about proper handwashing and hygiene habits,â€? he added. Though medical experts say the simple act of hand washing is an important aspect of life, it is often taken for granted. According to the World Health Organisation (WHO), hand washing could be an important factor towards the attainment of the Millennium Development Goals, MDGs, by many nations as it could prevent pneumonia and nutrition-related diseases, as well as help in managing diarrhoea and HIV/AIDS. In fact, experts describe hand washing as a habit that could save more lives than any single vaccine

or medical intervention considering that the hands are the most exposed part of the body where germs are concerned. For instance, a simple ailment like conjunctivitis can be passed like flu to everyone who lives close to an infected person by a shake of the hand, especially dirty hands. The Country Director of WaterAid Nigeria, Dr.HalidouKoanda, in an interview, said washing hands with soap and water regularly was the most important and cheapest method of curbing the spread of disease-causing germs. â€œWashing your hands with soap also means you can spend less time in hospital and more time in school; it keeps you healthy to do all the things you love to do. â€œIt not only protects you, but it also protects everyone around you because it stops germs spreading from you to others,â€™â€™ he added. Also, promoting handwashing practices should not only involve the provision of hygiene facilities alone, as Mr. Moustapha Niang, Wash Specialist, UNICEF, proposed that there must also be a concerted effort in making the people use such facilities provided. â€œGood hygiene practices must be a habit which requires choosing to perform them not only on Global Hand Washing Days but also on a regular basis,â€? he concluded.

NHIS: Delivering Healthcare to Nigerians Ifeanyi Omokwe When Prof. Usman Yusuf was invited from the United States and appointed as the Executive Secretary of the National Health Insurance Scheme in 2016, he must have congratulated himself and saw an opportunity to help his country. The scheme is aimed at providing easy access to healthcare for all Nigerians at an affordable cost through various prepayment systems. Established under the National Health Insurance Scheme Act, Cap N42, Laws of the Federation of Nigeria, 2004, the NHIS had been struggling to realise its mandate and the federal government must have thought that Yusuf was the right man to put it on track. An academic with industry experience in the United States from where the scheme was borrowed, is no doubt an asset for an organization that envisions progress that would make universal health coverage a reality in the country. But if the government took the right decision by giving him the appointment, Yusuf must by now be asking himself whether his decision to take the offer was well though-out. Since he stepped into the office, there has been a stiff resistance to him and what he represents by some established interests within and outside the NHIS secretariat. A war of attrition was unleashed, and he looked like a soldier fighting a relentless army which employs conventional and guerrilla tactics. Anyone who cared about the NHIS and has followed developments since Yusuf took over its affairs two years ago will not be surprised about the turn of events. He obviously came to office with a burning desire

Yusuf

to make impact, but found himself instead, fighting to create a conducive environment for success. Yusuf was thrown into an office in an industry where stakeholders have conspired to undermine the system in such ways that it benefits them at the expense of the people they are meant to serve. It is a multi-layer conspiracy that is only recently coming to light. One layer of the criminal conspiracy in the health insurance scheme is the role of the Health Management Organisations (HMOs). These are the organisations that act as intermediaries between the NHIS and hospitals that provide medical services to the insured. The NHIS gives money to the HMOs on behalf of beneficiaries, and they are expected to pay the hospitals for services rendered. But what had been allegedly happening was that

the HMOs have been collecting money from NHIS without remitting to the hospitals. This has led to accumulated debts and refusal of hospitals to treat patients enrolled into the scheme, thereby defeating the purpose of the scheme. Instead of paying the hospitals moneys due to them, the HMOs where-house the funds in commercial banks and trade with it at the detriment of poor Nigerians who have legitimate health insurance cover. That is why more than 12 years after it was established to provide cover for a projected population of 180 million Nigerians by this year, the scheme has been able to cover only a miserable 1.5 per cent (about 3 million). This is so because the HMOs are supposed to ensure that more people are brought into the scheme through sustained health insurance marketing and quality service delivery. The HMOs have been feeding fat on money meant for the poor and the vulnerable. The NHIS boss came and found a cesspool of corruption and maladministration and an entrenched regime of official sabotage. He thought, in good conscience, that it was an unacceptable situation and he quickly put the shovel to work. An audit of the NHIS data base and system yielded a rot that stunk to high heavens. Some of Nigeriaâ€™s high-brow politicians are the men behind these HMOs and saw the NHIS as cash-cows for endless milking. Billions were allegedly collected and not remitted to hospitals. Out of some 57 HMOs doing business with NHIS, it was discovered that less than 10 were competent to be engaged. To compound the problem for the Yusuf-led management, some top staff of NHIS were neck-

deep in the scam. Moneys were paid to HMOs for ghost beneficiaries. The audit showed that not less than 23,000 on NHIS list of beneficiaries were ghosts, meaning that some smart-alecs were diverting funds into their private accounts. The NHIS boss must have been shocked beyond words at what he found in the books. Because shortly after he settled into office, he started turning the tables. He did two things that literarily caused earthquake in the health insurance sector. First, he said all HMOs would have to be re-accredited to ascertain their competence and integrity. This was what led to the discovery that more than 80 percent of them were not qualified in the first place, and he threatened to delist them! Second, he insisted on re-licencing all HMO accredited hospitals nationwide to find out those genuinely offering services, and those being used to syphon NHIS funds. These two decisions were like kicking a dusty ground during the harmattan-it raised so much dust that its still flying in the air more than a year after. The dark forces are fighting, but they are not showing their faces or hands. Those who are stealing from the poor are using proxies to wage their insurgency. Yusuf has been accused of corruption and nepotism, and it even led to his suspension. After investigations showed he was clean, he was asked to resume his duties. But the hawks are not relenting. Recently, some members of the Association of Senior Civil Servants(ASCS) again called on the federal government to suspend the NHIS boss for alleged corrupt acts and for having seven policemen guarding him! -Omokwe, wrote in from Lagos

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Imperatives of Self-regulation Jonathan Eze writes on the significance of the World Standards Day that was celebrated recently and a need to entrench personal consciousness, quality products and services As countries worldwide celebrated this yearâ€™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- regulation-which describes personal consciousness and desire for quality products and services. The theme of the 2018 edition of the global event was â€œInternational Standards and the Fourth Industrial Revolution.â€? 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 SONâ€™s Mandatory Conformity Assessment Programme (MANCAP) certificate at the event-where SON also announced its collaboration with ISO on ISO 700-meant to help Nigeriaâ€™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 yearâ€™s edition. With this yearâ€™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 yearâ€™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 SĂźnter, 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

Aboloma

International Standards. The celebrations of WSD are synchronised by different international standards organisations, 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

International Standards assist the expansion of tailormade 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

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 networkingincluding socialisation, and experience sharing. It provides business opportunities, opportunities for partnerships-including public-private- learning experiences and access to a wide range of informationincluding 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 yearâ€™s theme Experts have justified the choice of â€œInternational Standards and the Fourth Industrial Revolutionâ€? as the theme for this yearâ€™s WSD. According to them, â€œJust 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 componentsâ€? â€œToday, 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.â€? â€œThe 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 â€œprint thingsâ€? 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 neededâ€?. 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 Canadawhich 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 sector- specifically 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.

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Vir: Access to Finance Remains Challenge for Start-ups, SMEs The Chief Executive Officer of the Tony Elumelu Foundation, Parminder Vir, in this interview speaks about challenges and opportunities for start-ups and small and medium scale enterprises inAfrica, as well as on the forthcoming Tony Elumelu Foundation Entrepreneurship Programme that holds in Lagos next week. Nume Ekeghe presents the excerpts: 2015-2017 Progress Report at the TEF Forum on the 25th October, which will provide deeper analysis and insights of impact across sectors, regions and business location.

What do you think are the challenges facing African entrepreneurs? Entrepreneurs face enormous challenges throughout their entrepreneurial journey. Amongst the challenges the TEF Entrepreneurs say they face are accessing start-up capital for their businesses. This can be addressed if banks and other formal lenders can reduce the collateral requirements; operating costs to buy machinery, equipment, technology or raw materials needed to operate. Power of course is the biggest challenge; government regulation and compliance from business registration, something government can easily fix by setting up on stop windows for SMEs; finding, training and retaining talent is a challenge for those trying to grow their businesses, government should consider tax relief for SMEs to enable them to stabilize their businesses; and business development for SMEs to access the supply chains of the large corporates Government is the major driver of economy and policy maker across Africa, what kind of working relationship do you have with governments? The importance of government in establishing and maintaining healthy and competitive enabling business environment cannot be over stated. The economic ecosystem is determined by the policies and functionality of government. Their effectiveness is critical to the success of SMEs. The Foundation continues to engage with government policy makers and leaders. At the fourth edition of the TEF Forum we will welcome the President of Ghana, Nana Akufo-Addo and President of Kenya, Uhuru Kenyatta, to engage in an interactive dialogue with the TEF Founder, Tony O. Elumelu CON. In July this year we welcomed President Macron of France to engage with over 2000 TEF Entrepreneurs shaping Africa. In 2016, we welcomed President of Sierra Leone to the TEF Forum. The Vice President of Nigeria, Yemi Osinbajo joined the Form in 2015 and 2017 to name but a few. Over the past four years the Tony Elumelu Foundation has played its part in helping African governments see that innovation, entrepreneurship and economic growth are inextricably linked. For example, Rwanda has streamlined its business registration procedures to such an extent that it only takes 6 hours for an entrepreneur to register and be ready for operation. Kenyaâ€™s economy has been transformed through entrepreneurship. The Ghanaian governmentâ€™s Youth Enterprise Support initiative provides young entrepreneurs and innovators with opportunities to grow their businesses from idea to implementation to scale. Enterprise Uganda is a programme of the Ugandan government which offers young entrepreneurs training and financial literacy aid as well as a credit facilitation service that provides guidance around available sources of financing. These few examples are proof that attempts are being made to create entrepreneurial ecosystems that encourage and promote business development. While establishing a quality business environment is important, from our engagement with thousands of African entrepreneurs, the governments also need to address the broader issues: affordable power, reliable infrastructure, taxation, cross border business, access to credit etc. The Foundation participates and supports high-profile pan-African and international business conferences, summits, and forums to highlight the economic value of entrepreneurship to policy makers, promote entrepreneurship as good career choice and support the development of an entrepreneurial culture across the continent. What is the focus of this yearâ€™s annual TEF Entrepreneurship Forum and why this focus? One of the most vibrant aspects of the TEF Entrepreneurship Programme is the annual TEF Entrepreneurship Forum. The fourth Annual Tony Elumelu Foundation Entrepreneurship Forum, is taking place on 25th October at the Federal Palace Hotel, Lagos, Nigeria. The Forum has grown and scale every year with over 5,000 entrepreneurs and the entrepreneurship ecosystem players expected to converge on Lagos for this yearâ€™s Forum. This year, we are celebrating the 2018 beneficiaries of our Entrepreneurship Programme bringing the total beneficiaries of our $100 million seed capital, mentoring and world-class training to 4,470 African

Vir

entrepreneurs. The forum is also an opportunity for the entrepreneurs to engage with and learn from with established entrepreneurs, global investors, leaders from the African public and private sectors and developmental organisations. In keeping with the Foundationâ€™s track record most recently with President Macron of France of bringing politicians face to face with the new generation of young business women and men shaping Africa, the Forum will include an interactive session with President Uhuru Kenyatta of Kenya and President Nana Akufo-Addo of Ghana, moderated by TEF Founder, Tony O. Elumelu. We will also launch TEFConnect, the worldâ€™s largest digital platform for African entrepreneurs, dedicated to connecting African entrepreneurs and the entrepreneurship ecosystem. The programme will also include a fireside chat with TEF Trustee, Gavi Champion for Immunisation in Africa and CEO, Avon Medical, Dr. Awele Elumelu, Moderated by CNNMoney Africa Correspondent, Eleni Giokos, on â€œThe Role of the Private Sector in Furthering Economic Development across Africaâ€?. An interactive pitching event and judging panel with a cross-section of judges from the private sector and development organisations. This yearâ€™s event will be the fourth edition, what has been the impact of the programme so far, especially looking back at past beneďŹ ciaries and their businesses? In just four years, we have directly impacted 4,470 entrepreneurs, and we are beginning to see the results: they are creating jobs, generating revenues and making a social impact through their businesses. This year began to track the progress of the 3010 entrepreneurs who graduated between 2015 â€“ 2017 and our study of just 1472 entrepreneurs who responded to the survey shows they have generated $52,486,234 after completion compared to $18,155, 241 before they were selected for the programme. In terms of jobs, the same 1472 entrepreneurs, have created 11, 971 jobs compared to 4,034 before they were selected for the TEF Entrepreneurship Programme. Furthermore, our study shows that upon completing the TEF Entrepreneurship Programme, 62 per cent of these businesses are now fully operational while

29 per cent have now become partly operational. This also explains the phenomenal growth in jobs (15% of the entrepreneurs now employ at least 10 people) and revenue (13% of the entrepreneurs now generate above $50,000 annually) recorded after the Entrepreneurship Programme. With regards to gender representation, over the years, the Foundation has made it a priority to ensure that both female and male entrepreneurs have an equal opportunity to apply unto the programme. When the programme was launched in 2015, 76 per cent of the applicants to the Programme were male while 24 per cent were female. As a result, male applicants accounted for 71 per cent of the entrepreneurs eventually selected into the programme while female applicants accounted for only 29 per cent. Given this significant gender disparity, the Foundation developed strategies to create awareness about the programme amongst women and encourage them to apply for the programme. To achieve this, the Foundation ensured that advertisements and promotions of the programme were targeted towards women. On social media, profiles of successful female entrepreneurs on the programme were used to encourage aspiring female entrepreneurs to apply to the programme. Female alumni of the programme took this a step further by organising workshops and trainings to assist them in their application. The result of all these activities was that by 2018, the gap had significantly reduced, male applicants accounted for 58.8 per cent of total applicants (down from 76% in 2015) while female applicants accounted for 41.2 per cent (up from 24% in 2015). Similarly, in terms of selection, the number of selected male applicants fell to 65 per cent, (from 71% in 2015) while selected female applicants increased to 35 per cent (from 29%) in 2015. In terms of the impact of the Seven Pillars of the TEF Entrepreneurship Programme, the 1472 entrepreneurs who responded to the survey, we saw that both the 12-week enterprise tool kit and the mentorship received at least a 70 per cent high impact rating while 61 per cent of them indicated that TEF provided them with the first seed capital for their business. So clearly, the TEF Entrepreneurship Programme is having an impact. We will be launching the TEF Entrepreneurship Programme:

But beyond the annual forum, do you have a follow-up mentoring programme that allows the beneďŹ ciaries to draw continuous support from your ogranisation and enables your organisation to also track the progress of the beneďŹ ciaries? Paramount to the success of TEF Entrepreneurship Programme is our continuous engagement with the entrepreneurs who have successfully completed the programme because we are building to last. We maintain contact with the entrepreneurs both online and offline. Through the online TEF Online Hub, we have built Africaâ€™s largest online network of African entrepreneurs for cross border business growth, skills, and knowledge sharing. TEF Hub is the go-to destination for TEF Alumni and our value-add partners, who provide ongoing products; business information, advisory services, innovation capital, market access, skills & training, and supply chain integration for TEF Alumni. This is also the platform through which we promote the emerging entrepreneurship networks across Africa and globally, important for business opportunities, building cross country networks and fostering a culture of entrepreneurship. In 2017, we launched TEF Entrepreneurship Awards to recognise the achievements of TEF entrepreneurs from the 54 African countries to raise their profiles and inspire investors and policy-makers to recognise and support African entrepreneurs. We also launched TEF Forum Pitch Competition and we have added TEF Africa Market Place to the TEF Forum where TEF Entrepreneurs can showcase and sell their products and services to a diverse and inclusive pan-African gathering. At the TEF Forum 2018 in October the Foundation will launch TEFConnect, Africaâ€™s largest digital platform, connecting African entrepreneurs globally. Positioned as the â€œFacebook for African Entrepreneursâ€?, the platform will provide three main benefits to its users, among others, to empower African entrepreneurs to buy and sell across countries and regions in Africaâ€™s largest digital marketplace with digital traffic reaching millions of people; access free business tools such as financial planning calculators and marketing templates and enable entrepreneurs to promote their businesses to potential investors and other partners. Through TEFConnect, we are scaling our impact by connecting African entrepreneurs all over the world on a single platform and increasing trade opportunities. How easy is it for the beneďŹ ciaries to leverage on your connection to access additional capital from banks and other sources across Africa and beyond? Access to finance remains one of the biggest challenges for African startups and SMEs. To enable TEF entrepreneurs to access capital, we have formed a range of diverse partnerships with financial services providers and investors to mobilise both early stage and growth stage financing. Contrary to the perception that African start-ups are risky investments, we have ample evidence that they are bankable provided they are given the right business development support as proven by our entrepreneurship development programme. Based on this we have encouraged commercial banks to embrace SMEs and to set up SME desks as part of their services. We have signed a partnership with Agence Francaise De Development (AFD)to provide risk guarantee scheme with United Bank for Africa (UBA). In 2018, we will further diversify and deepen the partnerships between financial services providers and investors with the TEF entrepreneurs. Through our engagement with African start-ups, we are aware that financial literacy is the weak link and we have enhanced our financial management modules to support them. We are also aware that the finance sector also needs to be educated to better serve start-ups and are working with angel networks, promoting public private grants and technical assistance, venture capital, private equity, and financial institutions. TEFConnect will build an investor network on the digital platform.

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Press Release THE MANIFESTATION OF APC’S PROMISED WARSAW IN AKWA IBOM STATE

n their avowed determination to execute their pledge to turn Akwa Ibom into a theatre of war and violence aimed at fulfilling their promise of WARSAW SAW WAR, APC released murderous goons who unleashed gargantuan violence and incredible mayhem yesterday around the vicinity of the Akpanadem Market, a popular market in Uyo, the capital of Akwa Ibom State over a billboard they alleged belonged to the APC candidate, Obong Nsima Ekere. Curiously, instead of the police arresting the murderous goons, they allowed them to walk free, while they invited the Honourable Commissioner for Environment, Akwa Ibom State, Dr. Iniobong Essien (whose Ministry regulates erection of billboards)to the Police Headquarters, at Ikot Akpan Abia in Uyo, and as the time of writing this release, he was still held in detention. According to the facts of the matter, a local vendor had sought and got an approval to erect a billboard. The Ministry approved the erection of the billboard at a particular location free from encumbrances and in accordance with the extant regulations. The vendor many months ago commenced the erection of the board, but at a different location, which for all intent and purposes is not fit for the undertaking he sought. This fact was brought to the attention of the vendor many months back and he halted the erection of some components of the board. Surprisingly, yesterday the ministry learnt that APC agents went to hoist a banner on the billboard and were prevented by security agents. The approved location of the billboard was several meters away from the main thoroughfare of the market. Instead of restricting themselves to the point approved for them, they erected the billboard at a place most unfit for such and in flagrant contravention of environmental regulations . The Commissioner of Environment, Dr. Iniobong Essien, in full execution of the regulatory powers vested in his ministry advised the company to relocate the pole to the approved location. Instead of adhering to the advice, the thugs employed by the APC engaged in unrestrained violence injuring bystanders and chasing away staff of the ministry. They claimed that the billboard bearing the image of President Muhammadu Buhari was torn (a fabrication sweet only for their ears).

On Tuesday 16th October, a Special Squad purported to have been sent by the Inspector General of Police, Ibrahim Idris, arrived Uyo, following a petition written by the State Chairman of the APC, Mr. Ini Okopido. The Special Squad invited the Commissioner and without any legal reason detained him. We wish to let Nigerians know that the Nigeria Police is a tax payers' funded security agency and the notion that a Special Squad could be purportedly sent by the Inspector General of Police, to harass a government official undertaking his legal duty, over a minor issue like the location for the erection of a billboard is deeply offensive. The Nigeria Police must know that Nigerians and indeed the international community are watching these troubling developments. Finally, we must remind the Nigeria Police that when pushed to the wall there is only one direction to go and that the slow movement of the tiger should not be interpreted as cowardice. That we are a law abiding party and our people peace loving, should not be misinterpreted or mistaken for cowardice. If this is the beginning of the Federal might that the APC has been promising to use in capturing Akwa Ibom, we can assure the world that the people of Akwa Ibom State who are solidly behind Governor Udom Emmanuel will resist this type of Federal might with every fibre of our being. We will preserve through this oppression conscious that while others trust in their horses and chariots, we will continue to trust in the Lord, knowing that the This battle is the Lord's. Akwa Ibom State, under the Administration of Governor Udom Emmanuel, is a very peaceful, safe and secure place, which has earned the commendation of all including the General Officer Commanding (GOC) 6 Division, Major General Jamil Sarham, who earlier this afternoon, during a courtesy call on the Governor stated that of all the areas under his operations, Akwa Ibom State has the lowest crime rate and is the most peaceful. We call on President Muhammadu Buhari to cause the Inspector General of Police to explain why a Special Squad claiming to act at his behest would be sent to the State over a minor issue as the erection of a billboard. Our people are watching this inglorious action and at due time, equal and opposite reaction will follow.

SIGNED:

Comrade Ini Ememobong State Publicity Secretary Peoples Democratic Party 16/10/2018

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Malgwi: All Nations are Searching for Foreign Investors Habila Malgwi, is the Regional Head for East and West Africa at Arton Capital, a global financial firm that helps people gain second citizenship of countries of their choices through various investment packages. He told Chineme Okafor, in this interview that Nigerians can legally access the world almost without entry visas. Excerpts: is taking him to places America and Europe that a Nigerian passport cannot take him. So, if he is taking a Nigerian passport that is probably because he has some other interests in the country. But we donâ€™t have a program in Nigeria, so we donâ€™t sell the country as a product.

Tell us about your ďŹ rm? Arton Capital is a global financial firm which specialises in citizenship by investment program. We are a trusted advisor to seven governments where we have successfully created some of these programs as a means of bringing in foreign direct investment to those countries. At the moment, we have about 14 programs in 14 different countries where we actually facilitate and help individuals or families in obtaining citizenship through investment.

Again, how does the low value on Nigeriaâ€™s passport affect its citizens generally? I think weâ€™re losing out on a lot of opportunities. Today, our passport can take us to maybe about 47 or 48 countries. Weâ€™re missing out on a whole lot because if little countries in the Caribbean can have access to Schengen and Europe, they are gaining a lot because their citizens have better opportunities for business abroad while our citizens have less opportunity to run business abroad. I would say itâ€™s hurting our economy because there is there just no way to sell Nigeria as a country using its passport. Well, there are resources like oil and anyone coming to Nigeria is coming here because they want to either take the oil or whatever, but not because of the passport, and if the country can enhance the passport then I think itâ€™s going to be a good thing.

What is this concept all about? I would actually say it has been there for a while now. However, we have been able to revamp this whole process. And weâ€™re able to project it much better, especially in Africa. The concept is such that we looked around the world and realised that governments are in need of foreign direct investments, economies are crashing, natural resources are also going away. Now, we looked at the human part of it, not just the government part of it, and we found out that a lot of people are having issues with traveling - it could be for mobility reasons, it could be for safety, it could be for education or for standard of living and business opportunities. And, we looked at the fact that thereâ€™s a gap between the government needing money and also individuals wanting those particular things that they need, and decided to implement this program called the citizen by investment program where the government can earn money through individualsâ€™ investment and the individuals can gain passports, and this eases the individualsâ€™ stress of traveling which reduces a whole lot of load for them. And also the government is making money to do more infrastructure and create jobs. Do the passports from this concept allow you all the rights of a citizen? Absolutely. So, if today, you get a passport from Cyprus, it gives you the same rights as a citizen of Cyprus. It means you become a Cypriot, you have all the benefits and every single facility that is being provided to citizens, and you are also entitled to that. How many governments and countries are you advising? We are currently advising several governments; weâ€™re trusted advisor with seven governments. But then we have the programme in 14 other countries. Now, what Iâ€™m saying is that we have been able to implement this program with seven governments while the 14 countries are total of where this programs have been laid in. And weâ€™ve been able to tap into an either where theyâ€™re probably promoters or the agents. Do you want to tell me some of these countries? Yes, there is Cyprus, Malta, Portugal, Bulgaria, Grenada, Antigua and Barbuda, St Kitts and Nevis, Saint Lucia, Dominica, the EB five in the United States, and also the Cuban immigration program. At the moment, we are also kicking off with Montenegro, which is getting a lot of traction right now, we also have the United Kingdom programme and also weâ€™re looking at Moldova. Solomon Islands might also come on board. What about some A-list countries like in the EU? Some of these countries do not provide this, and what we do is for us, we look at the access. So, if these countries are open and need this program, weâ€™re happy to bring it in. So, we always have to look at these things. We cannot just go in and do programs in any country, we have to be able to access the country to be able to see that we have more traction of people who want to be in those jurisdiction, and also this countries are in need of this resources. What is the typical process for this programme? First of all, you need to have a minimum annual income of $100,000 or above 100,000 Euros, depending on the jurisdiction. But generally, this is what it entails. We just donâ€™t on-board clients just like that. We try as much as we can to go

What should be done about this? We have been able to more or less be like consultants for a couple of countries where we stand like middleman in making bilateral agreements with foreign ministries and our doors are open, if they want us to come in as consultants to help them increase the ranking of the passport, we can do.

Malgwi

through a very strict due diligence process. If you as a client, come to us today for a Malta passport, we take a data page of your passport and your CV and run a background check on you. If you qualify or you pass our compliance checks and process, then we on-board you as a client. It doesnâ€™t just stop there because by the time we put your file together, and lodge it to the government, it takes them at least three months to launch a due diligence on you as an individual. So, when that due diligence report is done, if you actually pass that, then you get an approval.

First of all, you need to have a minimum annual income of $100,000 or above 100,000 Euros, depending on the jurisdiction. But generally, this is what it entails. We just donâ€™t onboard clients just like that. We try as much as we can to go through a very strict due diligence process

Now, the moment you get an approval that is when the investment amount is due for you to pay to the government, so, these are the processes. Are you challenged by the fact that a lot of countries are closing their borders from foreigners? We believe that the world is becoming a global village and we believe that the few wealthy ones can open more doors to the mass poor people. This is one of our beliefs and even in the United Nations, it is written boldly that everyone has a right to second citizenship. You have a right to a second nationality. Although yes, we understand that for security reasons, borders are closing up, but you should also remember that youâ€™re not going in through the back door, youâ€™re going in through a legitimate way, through investing with your resources. If today you go to the United States to buy a property, it doesnâ€™t mean that you are a resident of the United States but then you have a property there. America will not close their borders to investors. Every nation is looking for foreign investors to come in and put their money, so if you can invest in that country then there is no issue at all. Do you encourage non-Nigerians to take Nigerian citizenship in this context just as you encourage Nigerians to take that of others? You see itâ€™s not about if we encourage other people to take citizenship in Nigeria because we donâ€™t have a program in Nigeria to start with. Secondly, we look at the strength of those passports â€“ can the Nigerian passport take you to Schengen and other European countries? The answer is no! So tell me how many people would actually want to take a Nigerian passport? However, Nigerians are well-travelled, probably the highest travelled people in the world. Now they want to go to Europe, Canada and other places, so, it is easier for Nigerians to say we want to take citizenship in any country in Europe or in a Caribbean country than for an European to want to take citizenship in Nigeria because there are no more benefits if you look at it. So, even if he takes the Nigerian passport, there is no much benefit because his passport already

How wide is Artonâ€™s operations? Weâ€™re the largest in the industry worldwide, and Iâ€™ve spoken with a lot of people who says we are professionals and credible. We actually have a little work that weâ€™re doing in Nigeria, we are getting people almost every single day sending us inquiries on these programs. Weâ€™re working hard because we believe Nigeria is one of the biggest markets in Africa, and so weâ€™re working a whole lot to see that we cover everyone, and weâ€™re able to assist them. The whole thing is for Nigerians, it is not about relocation but access to the world. So for example, you have someone who is worth over $200 million with his private jet, but still gets rejected visa once in a while. That wastes his time from flying out to get a business transaction done somewhere and for him, it is easier for him to invest at $2 million euros in Cyprus, or he invest half a million in the United States and he gets a passport that can take him to Europe or anywhere for visa free. Now, what I need also for people to understand is that this is not about how many visa-free countries you go to, but about your interest and where they lay. We have a tool called the passport index tool where you can check the countries that you need and how many has visa-free passports. With that, you will be shocked that a country like Grenada has about maybe 120 countries or more and can take you to China. So, these are some of the concepts we try to educate people about it. How many people have you been successful with so far? In this region, weâ€™ve been able to assist over 20 families to accomplish this. And I tell you 20 because the process is actually not just an easy process. You know, it takes a whole lot. We have had a couple of rejections and our success rate I will say is 100 per cent because the only reasons people are rejected is if they are not sincere. If clients are not sincere, and something is found out by the government, by the due diligence team, you get rejected. For us as a company being that we have different stages of compliance check, we try to mitigate those risks of you getting rejected. So, we find out everything from day one. And weâ€™re always happy to reject clients as long as your records are not clean, weâ€™re not helping people to launder funds, and we try to make this clear, and that is why we do what you call a full-blown source of wealth check. I always have this question about politicians, and I tell people too that we donâ€™t have problems with politically-exposed people as long as they can prove their source of wealth. It is not a crime to be a politician, there are lots of politicians that have legal source of income.

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BUSINESSWORLD

Global Health Organisations Commit to Working Together Eleven heads of the world’s leading health and development organisations have signed a landmark commitment to find new ways of working together to accelerate progress towards achieving the United Nations’ Sustainable Development Goals. Coordinated by the World Health Organisation, the initiative united the work of 11 organisations, with others set to join in the next phase. The commitment followed a request from Chancellor Angela Merkel of Germany; President Nana Addo Dankwa Akufo-Addo of Ghana, and Prime Minister Erna Solberg of Norway, with support from United Nations SecretaryGeneral Antonio Guterres, to develop a global action plan to define how global actors can better collaborate to accelerate progress towards the health-related targets of the 2030 Sustainable Development Agenda. “Healthy people are essential for sustainable development – to ending poverty, promoting peaceful and inclusive societies and protecting the environment. However, despite great strides made against many of the leading causes of death and disease, we must redouble our efforts or we will not reach several of the health-related targets,” the organisations announced at the World Health Summit in Berlin. “The Global Action Plan represents an historic commitment to new ways of working together to accelerate progress towards meeting the 2030 goals. We are committed to redefine how our organisations work together to deliver more effective and efficient support to countries and to achieve better health and well-being for all people.” The group has agreed to develop new ways of working together to maximise resources and measure progress in a more transparent and engaging way. The first phase of the plan’s development is organised under three strategic approaches:

align, accelerate and account. Under Align, the organisations committed to coordinate programmatic, financing and operational processes to increase collective efficiency and impact on a number of shared priorities such as gender equality and reproductive, maternal, newborn, child and adolescent health. Also, under Accelerate, they have agreed to develop common approaches and coordinate action in areas of work that have the potential to increase the pace of progress in global health. The initial set of seven “accelerators” include community and civil society engagement, research and development, data and sustainable financing. Similarly, under Account, the partners agreed to improve transparency and accountability to countries and development partners, the health organizations are breaking new ground by setting common milestones for nearly 50 health-related targets across 14 Sustainable Development Goals. These milestones will provide a critical checkpoint and common reference to determine where the world stands in 2023 and whether it is on track to reach the 2030 goals. The Global Action Plan will also enhance collective action and leverage funds to address gender inequalities that act as barriers to accessing health, and to improve comprehensive quality health care for women and girls, including sexual and reproductive health services. The organisations that have already signed up to the Global Action Plan for Healthy Lives and Well-being for All are: Gavi the Vaccine Alliance, the Global Fund to Fight AIDS, Tuberculosis and Malaria, the Global Financing Facility, UNAIDS, UNDP, UNFPA, UNICEF, Unitaid, UN Women, the World Bank and WHO. The World Food Programme has committed to join the plan in the coming months.

Business ‘Dragging its Feet’ on Human Rights Worldwide, Says UN In the report drawn up by a group of UN rights experts, companies have been urged to comply with the UN Guiding Principles on Business and Human Rights, which provides a framework for how States and investors, should address shortcomings in board rooms and business practice at all levels. The Chair of the UN Working Group on Business and Human Rights, Dante Pesce, said “human rights due-diligence” was fundamentally “about preventing negative impacts on people.” He explained that identifying and being transparent about risks, was the first step toward prevention of abuses. “Ensuring that human rights are respected across their own activities and value chains, is the most significant contribution most companies can make towards

sustainable development,” he added. More investors are beginning to take note of human rights risks and pressuring companies to step up their efforts to prevent abuses, according to the report, but further progress needs to be made. With a few companies leading the way, most are still either unaware of their duty to human rights standards, or unwilling to implement due diligence, said the experts. Greater government action is also required. “In spite of an overall picture of slow progress, the good news is that human rights due-diligence can be done,” Pesce said, pressing that businesses can no longer blame a lack of knowledge for inaction. “Evidence is clearly suggesting that doing the right thing is also the smart thing to do,” he added.

DEVELOPMENT

W’Bank: Jobs of the Future Require Investment in People Ugo Aliogo Greater investments in people’s health and education are urgent in a rapidly evolving labor market increasingly shaped by technology, according to the “World Development Report 2019: The Changing Nature of Work,” released recently by the World Bank. “The nature of work is not only changing – it’s changing rapidly,” World Bank Group President Jim Yong Kim said. “We don’t know what jobs children in primary school today will compete for, because many of those jobs don’t exist yet. The great challenge is to equip them with the skills they’ll need no matter what future jobs look like – skills such as problem-solving and critical thinking, as well as interpersonal skills like empathy and collaboration. By measuring countries according to how well they’re investing in their people, we hope to help governments take active steps to better prepare their people to compete in the economy of the future.”

The number of robots operating worldwide is rising rapidly, the report stated, stoking fears of a jobs meltdown. But technology is laying down a path to create jobs, increase productivity and deliver effective public services. Fears surrounding innovation, which has already transformed living standards, are unfounded. It noted that digital technology spurs rapid innovation and growth, disrupting old production patterns and blurring the boundaries of firms. New business models, such as digital platforms, evolve at dizzying speed from local start-ups to global behemoths - often with few tangible assets or employees. New platform marketplaces are connecting people more quickly than ever before. This “scale without mass” delivers economic opportunity to millions of people, regardless of where they live. “New markets and jobs are driving demand for employees with teamwork, communication and problem-solving skills. Technological change is elimi-

nating repetitive “codifiable” jobs but replacing them with new types of employment: in Europe alone, there will be estimated 23 million new jobs this century. “Technology is changing not just how people work but also the terms on which they work, creating more non-traditional jobs and short-term “gigs.” “This is making some work more accessible and flexible, but raises concern about income instability and the lack of social protection. Four out of five people in developing countries have never known what it means to live with social protection. “With two billion people working in the informal sector, unprotected by stable wage employment, social welfare, or the benefits of education – new working patterns are adding to a dilemma that predates the latest technological wave. “Adjusting to the changing nature of work requires enhanced social protection. New ways of protecting people, regardless of employment status, are needed,” it stated.

The report challenged governments to take better care of their citizens, calling for a universal guaranteed minimum level of social protection. Full social inclusion would be costly, but it can be achieved with reforms in labour market regulation in some countries and, globally, a long overdue overhaul of taxation policy. With the boundaries of firms transcending borders and physical assets, it’s easier to shift profits to low-tax jurisdictions, which means billions of dollars go untaxed. The report called for updates to the international tax system, taking into account the globalised digital economy. “As digital firms – with relatively few tangible assets – increase and grow, withholding taxes are also becoming more relevant. Current taxation patterns reveal large discrepancies, especially between poorer and richer countries. High-income countries collect a much larger share of their national output in direct taxes, while middle and low-income countries rely more on consumption and trade taxes,” it added.

Firm Links Health, Safety Group Launches Academy to Workers’ Productivity Project For a business to be successful, greater attention must be accorded to the safety and health of the workforce as this is a prerequisite for increased productivity, the Chief Executive Officer, Richardson Oil & Gas Limited, Mr. Akin Osuntoki has said. Osuntoki, who stated this at the 10th Edition of the PSRGRichardson Health, Safety, Security and Environmental (HSSE) Forum in Lagos noted that making health and safety a priority in an organisation effectively communicates that employees are a valuable resource in the organisation. “A systematic approach to HSSE management not only makes managing a business easier, it also makes it more effective. Enhanced health and safety standards help organiza-

tions effectively manage time during execution of projects and improve their business profile with customers and clients,” he was quoted to have said in a statement. He noted that part of efforts by the company to ensure adherence to safety at work was the annual PSRG-Richardson HSSE Forum which started in 2009 and has been adding value to its diverse participants. This year’s forum titled “Effective HSSE Management: The Key to Sustainability,” was attended by industry experts from diverse fields including the Managing Director Nigeria NLNG Limited, Mr. Tony Attah, who chaired this year’s event. He delivered the opening remarks and commended the PSRG-Richardson alliance for sustaining the Forum for 10 years.

The African Legal Support Facility (ALSF) has launched a flagship initiative, the “ALSF Academy Project.” Under this initiative, the ALSF has developed a threelevel capacity building and certification program. This program would be conducted through an interactive online portal, starting with an inception phase consisting of a series of in-person workshops. It is an innovative tool that will efficiently produce, collect and disseminate knowledge, as well as provide tailor-made training solutions for African lawyers and professionals. The ALSF is implementing the Academy Project in partnership with the East Africa Law Society (EALS), the Southern African Development Community Lawyers Association (SADCLA), the International Training Centre in Africa for Francophone Lawyers (CIFAF), the African

Business Law Firms Association (ABLFA) and the capacity building organization, ILFA. In sum, the partner institutions, in collaboration with national bar associations are providing valuable support in designing and implementing the three-level certification program, with the aim of granting continuing legal education credits to participants. The ALSF will hold an introductory level in-person training workshop in Kigali, Rwanda from 15-20 October 2018, for Anglophone African lawyers selected by the SADCLA and the EALS. The subject areas to be covered during the workshop include mining; oil & gas; power; infrastructure and Public Private Partnerships; sovereign debt; and the soft skills required for a successful legal practice (Personal and Professional Development).

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BUSINESSWORLD

DEVELOPMENT

Harnessing Tourism Potential through Ikeji Festival

The musical troupe from Amuvi village that won the 4th prize performing

Azubike Okoro The 2018 Ikeji Arochukwu festival has come and gone leaving a trail of exciting and memorable experience that would be talked about for a long time to come. The event, which took place between September 5-27, was a harvest of remarkable cultural activities from the first day of the program which is called Iza Awada when the Eze Aro would announce the commencement of the festival to the climax of the celebration called Ekekpe when the Aros would converge at Amaikpe square to pay tribute to their ancestors and fallen heroes, Arochukwu was a beehive of cultural celebration. Ikeji Aro, has a long history dating back to 912 AD, when it was first celebrated. Since then, it has been celebrated annually in the ancestral home of the Aros and over 360 Aro communities scattered all over the world. It is a season dedicated to showcasing Aro’s rich cultural heritage, renewing of ancient covenant that unite Arochukwu kingdom and thanksgiving to God for a successful year. It also presented a unique opportunity to celebrate Arochukwu tradition and culture in its pure and original form. It equally serves as a platform for infinite entertainment, commerce and tourism as it features huge home coming by Aros in diaspora, rare masquerades, traditional dances and cultural displays. Indeed, a visit to Arochukwu during the Ikeji festival would reveal an ancient kingdom that is richly endowed with cultural heritage. Ikeji Aro is a period that brings to fore the importance and significance of Aro culture. It is a period that tells the story of an ancient kingdom and of a people who have contributed immensely in advancing the frontiers of civilisation and knowledge all over the world. As one of the cradles of civilisation, Arochukwu is not like any other community, but one with interesting history of its exploits in time past which have been richly documented for posterity. This makes a visit to Arochukwu more like a journey to discovery of an ancient kingdom that has played a pivotal role in the development of mankind. This reveals the uniqueness of Ikeji Aro which has been attracting a large turnout of visitors to Arochukwu each year. However, over the years there had not been conscious effort to harness the huge tourism potentials of Ikeji festival. But the present leadership of Nzuko Aro worldwide led by Mazi George Ezumah, has taken some initiatives to repackage the Ikeji towards making it more attractive to visitors. Indeed, the last two editions of the festival made significant effort in attracting, encouraging participation by individuals

and corporate organizations. Encouraged by this development, the organisers of the recently concluded Ikeji Aro led by Dr. Azubike Okoro introduced some innovations aimed at encouraging participation and popularising the festival both within and outside the country. This really paid off to some extent as it has been acknowledged as one of the most successful Ikeji festival in the recent time. Some of such innovations introduced included giving cash and other prizes to participating cultural dances from the villages and diaspora. This had engendered healthy competition amongst them and provided more exciting performance and entertainment to the highly appreciative gathering at Amaikpe who witness the entertainment. Similarly, performance by masquerades were orderly and controlled, limiting them only to entertainment, unlike the ugly experiences of past when their performances ended up in violence and fetish display of charms. There were also a lot of other side attractions being provided by some individuals and corporate sponsors like MTN and Nigerian Breweries that helped to add value to the memorable occasion. Equally, the youths were recognised for the first time by being given the opportunity to showcase their talent and creativity on the eve of Ekekpe in a show tagged: Aro Got Talents: These are some of the commendable innovations introduced by the organizers of Ikeji to broaden its popularity and acceptability not only in Arochukwu, but globally. Although it is well acknowledged that there has been tremendous improvement

There is no doubt that Ikeji Aro, given its long history and tradition, has the potential to become a major tourism. But it depends on the willingness and commitment of the people to promote and market their culture globally

in the quality, content and organisation of Ikeji festival, notwithstanding the obvious challenges, there are a lot more that still need to be done towards making it a global tourism destination. There is no doubt that Ikeji Aro, given its long history and tradition, has the potential to become a major tourism. But it depends on the willingness and commitment of the people to promote and market their culture globally. Indeed, it must be acknowledged that the Aros are very proud and passionate about their origin and culture. It will also require integrating Ikeji Aro into the national cultural calendar. This will make it more acceptable both locally and internationally. Equally, deserving of attention is the development of Aro tourism sites. Just like its culture, Arochukwu has many interesting tourism sites that are lying dormant. One of such places of interest in Arochukwu is the shrine of the legendary Ibini Ukpabi, otherwise known as the long juju of Arochukwu. Reputed with so much powers and authority in those days, especially during the period of Slave Trade, the deity is still highly revered even today, and has continued to attract a lot of attraction. Also of notable interest is Ulonta Okoroji museum located at Ujare Village. This place has a lot of interesting collections mainly on slavery. The founder, Mazi Okoroji, was said to have played active role as a slave merchant and his exploits are well documented in the museum. There is equally the 79 steps located in Amannagwu which also harbours the residence of the colonial masters. These are just a few of such interesting and historical tourism sites in Arochukwu. Unfortunately, they have been neglected or abandoned over the years. However, in trying to harness the tourism potentials of Ikeji festival, attention should also be given to developing the tourism sites and make it an integral part of the festival. There is no doubt that these tourism sites would be of tremendous benefit towards enriching the Ikeji festival, as they can help attract more visitors to the community. While commending the Nzuko Arochukwu leadership and the organisers of the 2018 Ikeji festival for re-inventing the almost dead festival and restoring its lost glory, there is still a lot of work to be done especially in harnessing its huge tourism potentials for the development of the community. This calls for concerted effort by every well-meaning Aro indigene. -Okoro, the Chair, Ikeji Aro 2018 Organising Committee, wrote in from Abia State

ISSUES IN THE NEWS: Suggestions on Ways to Tackle Flooding The drainage system should not be disjointed but well laid out to connect with one another, thereby having a smooth pathway to the drainage endpoint. Regular cleaning and clearing of the drainage should be encouraged in every community as the contrary should be discouraged. Irrespective of the number of waste disposal bins spread in an environment, it is the attitude of people at using the bins that is key to avoiding blockage of the drainage. Kehinde Taiwo, Lagos Like every other country, Nigeria has experienced its own disaster by way of flooding whether it’s due to government negligence or just natural. I believe government has responded positively to helping victims of flood. When flooding occurs the only thing left to do most times is to mitigate the harshness of the effects on those affected by flooding. The most important thing to do on the part of the government is to do what is within its power to prevent man made flooding. Government should ensure there are good drainage systems in places that are prone to flooding. Also, the government should ensure that people do not construct houses in low land areas where the effects of flooding can be catastrophic. Cletus Ojogan, Lagos The government often times put lackadaisical attitudes towards control measures in addressing disasters that confronts the citizenry. Leaving the masses to proffer possible solutions for themselves. However, to curb the flooding challenge, the States that are prone to flooding should ensure proper sanitation of water ways so that there would be free flow of water when there is heavy downpour. Sunday Chukwu, Oyo State The proactive response of government agencies who gave update of warning of the impending flood is highly commendable. What is lacking on the part of government is not doing enough to insist persons living in areas prone to recurring flood vacate the areas before the flood. To curb the effect of flooding in Nigeria, there should be more sensitisation to enlighten people on the need to clear drainages while government should do more in providing critical infrastructure to control flooding in areas affected. Innocent Omoaka, Benin City, Edo State The present government doesn’t discuss flooding crisis in Nigeria, it just tacitly relies on the NEMA to continue to play its role of giving out relief materials wherever they are needed. It is part of the failure in the system we talk about every day. The present government doesn’t discuss flooding crisis in Nigeria, it just tacitly relies on the existing NEMA to continue to play its role of giving out relief materials wherever they are needed. It is part of the failure in the system we talk about every day. Sunday Okobi, Lagos Next Week Topic: In the Africa society, when a woman rises to the zenith of her career in either public or private sector, it is seen as a record breaking achievement because women’s progress in business and corporate leadership is still patchy, within and between countries. What should be done to increase women participation in corporate governance? Send feedbacks to aliogougochukwu@ gmail.com or 07030083086.

T H I S D AY ˾ ,OCTOBER 18, 2018

HEALTH & LIFESTYLE

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Tackling Incidence of Mental Disorder in Nigeria Martins Iﬁjeh writes that the World Mental Health Day, which is commemorated every October 10, again brought to the fore the burning issues of mental disorders, which sometimes lead to suicide, making it one of the leading causes of ill-health and disability globally

lobally, the World Mental Health Day, is commemorated every October 10. This year was no different as Nigeria joined the rest of the globe to mark the day which was tagged, ‘Young People and Mental Health in a Changing World’. It brought to the front burner cases of increase in depression and other forms of mental disorders in Nigeria, with the bottom line being that government and other stakeholders must put enabling measures in place to manage and reduce the anomaly. A recent study by the World Health Organisation (WHO) has shown that one in four people globally will be affected by mental or neurological disorders at some point in their lives; that is at least 1.7 billion persons worldwide. Across the world, not fewer than 450 million people are currently suffering from such condition; making mental disorder one of the leading causes of ill-health and disability globally. Mental health has been ranked the fourth leading cause of global disease burden, while it is estimated that it will rank second by 2020, lagging behind only ischemic heart diseases. Despite being an alarming public health issue due to the large population affected, studies have shown that mental disorder is not taken as a priority, especially in low and middle-income countries like Nigeria, where it is highly misunderstood. Forms of Mental Disorders Often times when mental disorder is mentioned in Nigeria, what comes to mind is the picture of insane men and women with particular spectrum of behaviour not in conformity with the general form of living. It is believed the typical naked and dirty person on the street who picks everything in sight and talks periodically to himself is the ideal person with mental disorder. But that category is just a small part of mental disorder even though it could be referred to as the extreme case of the health condition. Other forms, according to the WHO are depression, anxiety, schizophrenia, drug addiction, bipolar disorder, eating disorder, among others. Statistics for Nigeria Several indications show that over 60 million Nigerians have one form of mental disorder or the other with only about 20 per cent of persons in such category seen to have the obvious forms of it, which includes what the ordinary Nigerian refers to as madness, schizophrenia, and perhaps extreme case of drug or alcohol addiction; a reason that has largely made mental disorder in the remaining 80 per cent or 48 million Nigerians ignored or poorly understood. To be exact, the WHO in 2017 said 7,079,815 Nigerians suffer from one of the most ignored and misunderstood form of mental disorder in the country – depression. This, according to the world health body, represents 3.9 per cent of the entire population of the country, thereby making Nigeria the most depressed country in Africa. Globally, Seychelles has the lowest number of depressed persons with just 3,722, according to WHO. It also said 4,894,557 Nigerians, that is 2.7 per cent of the population, suffer anxiety disorders. The country is closely followed by Ethiopia with 4,480,113 sufferers, Democratic Republic of Congo with 2,871,309, South Africa with 2,402,230, and Tanzania with 2,138,939 sufferers. Tackling Depression While all forms of mental disorders are being advocated against by the health body

Mental health should be given priority in Nigeria

as priority by all member nations, including Nigeria, it is believed that the poorly misunderstood types, especially depression, should be tackled head on before they silently destroy mankind. Depression is the leading cause of disability globally, as well as the leading cause of about 800,000 suicide deaths in the world. It is also the second leading cause of death in 15 – 29 year-olds globally. For Nigeria, with the over seven million depressed persons in the country, and the increasing suicide rates and attempts, experts believed the rising suicide trend can be drastically reduced by understanding depression, which they have termed a preventable and treatable ailment. They said when understood by the society and spotted on time; every Nigerian developing the condition can timely seek help before it reaches the extreme consequence, suicide. According to WHO, depression

Statistics show that Nigeria has only about 150 Psychiatrists to care for over 180 million Nigerians; that is one psychiatrist to 1.2 million Nigerians. It also shows that there are ﬁve mental health nurses to 100,000 Nigerians

is not just a feeling of sadness but a real illness which affects the brain, adding that feeling of sadness could easily go away, but depression is a serious health condition that requires proper treatment and counseling. Experts Speak Experts are of the opinion that the country has the potential to slow down the growing prevalence of the health condition if it understands that many otherwise ‘healthy’ Nigerians are depressed and are in dire need of help. They also believed that if government and other stakeholders give priority to mental health management, the prevalence would reduce. For Doctor of Psychiatry, and Founder, Mental Balance Initiative, Dr. Reuben Oyaregbulem, failure of clinicians to identify and diagnose depression has somewhat gave seal among the society and healthcare providers that it does not exist. He said the worst part of being depressed in Nigeria was that the victim often suffers the ailment alone without a clear signal of help from either the society or even health providers. He noted that when the depression has reached a certain level where they have concluded no one will ever understand them, the next thing is to commit suicide or harm themselves. This he said was why it is a silent killer that must be addressed. He said many Nigerians often believe depression is an elite or ‘white man’ sickness, and that it can be cured with bottles of beer, sticks of cigarette or sexual intercourse. “Depression is not just a feeling of sadness which goes away easily. It is a tough feeling with an established imprint in the brain. It is also not stress that will go away. Agreed that stress could trigger it but the best way out of it is to treat it head on,” he said. The former Medical Director, Federal Neuropsychiatric Hospital, Yaba, Rahman Lawal, told THISDAY in an earlier interview that one of the challenges in tackling mental

health generally, including depression, was that there were myths and misconceptions surrounding psychiatric illness in Africa, especially in Nigeria. He said: “There are people who refuse to visit the hospital or bring their sick ones for treatment, because they believe psychiatric illness is a spiritual issue. Hence, they would prefer to take such patients to spiritual healing homes or faith organisations so as to get cure through spiritual means. Majority only take neuropsychiatric hospitals as their last resort. “You know when cases are not presented on time, they are often more difficult to treat. This is one of the reasons people don’t present their cases to the hospital, thereby preventing such sufferers from getting proper medical attention. So, what I do is that when I come across such persons, I tell them to bring their sick loved ones to the hospital whilst educating them that there are drugs for the treatment of the illnesses.” The Grim Picture Statistics show that Nigeria has only about 150 Psychiatrists to care for over 180 million Nigerians; that is one psychiatrist to 1.2 million Nigerians. It also shows that there are five mental health nurses to 100,000 Nigerians. Lawal said the country has only eight neuropsychiatric hospitals, but believe state governments should complement the efforts of the federal government by establishing state psychiatric hospitals in their various states. These statistics however show that Nigeria is not yet ready to tackle issues of mental health head on. To make matters worse, Nigeria has no clearly defined mental health policy. Perhaps the federal, states and local governments also are of the opinion, just like most Nigerians that the insane man on the street who talks to himself and sleep on dirts, is the only one with mental disorder, hence no need to give it priority.

T H I S D AY ˾ ,OCTOBER 18, 2018

NEWS

Lagos Births Social Health Insurance Scheme Martins Iﬁjeh The Lagos State Health Scheme (LSHS), a state-wide health insurance scheme has been launched by the government to ensure that all residents of the state have access to quality, affordable health care services. The scheme covers treatment of common adult and childhood ailments, maternal and child services, preventive healthcare services, selected non-communicable diseases and surgeries. In support of the LSHS, a proof of concept, supported by the PharmAccess Foundation, commenced on September 25, 2017. Country Director of PharmAccess Foundation Nigeria, Mrs Njide Ndili, explained that the proof of concept which mirrored the Lagos State Health Insurance Scheme, was implemented to demonstrate how it can improve the lives of the most vulnerable population at scale, using the mobile phone and light technology. Prior to commencement, field agents visited communities around the two selected hospitals (Igando General Hospital and Subol Hospital) to recruit eligible beneficiaries who will then be enrolled into the pilot. The Poverty Probability

Morenikeji is a beneﬁciary of the Lagos Social Health Insurance Scheme

Index identification tool was administered to identify those eligible for the pilot programme. One of those found eligible was one Morenikeji (surname withheld), who hitherto was in a fix after she found out she was pregnant. The 35-year-old was worried over the financial implications

the pregnancy would tax on them, given that she has suffered from complications from previous pregnancies. Her worries were rested by the LSHS as she was enrolled and covered by the LSHS benefit package which includes pregnancy, normal delivery, caesarean section and post-natal care at Igando

General Hospital. Morenikeji is one of the many success stories from the pilot. She had a caesarean section in which she delivered a healthy bouncing baby boy. According to the Health Plans Program Officer, PharmAccess Foundation Nigeria, Yemisi Khalidson, the pilot was administered using

Ashiru: Environmental Toxins, NANNM Decries Insecticides, Eating Habits Shortage of Nurses, Can Cause Infertility Martins Iﬁjeh A Consultant Reproductive Endocrinologist, Prof. Oladapo Ashiru, has revealed that environmental toxins, insecticides sprayed in the home, bad eating habit and exposure to mercury when driving are part of the causes of infertility among Nigerian couples. He said toxins from occupational industries like oil and gas, petrochemical, and agriculture poses threat not only to reproductive life, but the general health of the people. Stating this as the guest speaker at the Felix Oladejo Dosekun Memorial Lecture in Lagos recently, and organised by the College of Medicine, University of Lagos (CMUL), Ashiru, who is also the Medical Director, Mart Group of Health Services, said clinical successes of detoxification can act as a complimentary treatment. The lecture was organised to honor late Prof. Felix Oladejo Dosekun, who was the first Vice-Dean of CMUL. Ashiru, who spoke on ‘Man Know Thyself and Healing Power will be Granted: How Medical Science Knowledge Helps to Achieve the Fruit of the Womb’, said in many cases, experts have found out that some couples experiencing difficulty in conception have toxins in their bodies, adding that these toxins are either from the environment or from what they eat. He said: “For example, a woman taking too much fruits,

thinking that it is healthy, may be causing damage to her pancreas, thereby having polycystic ovarian disease. If a woman eats too much vegetables and it doesn’t digest, it can blot and cause candida infection, which again can affect fertility. Also, women who eat too much stockfish or large portions of meat can have mercury, because that is what they use to preserve them, and some of these fishes were caught from contaminated waters that have a lot of heavy metals. “The insecticides we use to spray our houses or paints are toxic to the sperm; also, women who drive bare-footed can absorb chemicals called antimony from the rubber on the brake pedals, which, after a long time, can accumulate to a level that will be toxic to the embryo. “So, such a woman will find it difficult to get pregnant or when she gets pregnant, may experience miscarriage at an early stage. This is because the environment where the baby is to stay, which is the uterus, is laid with that antimony which is hostile to the embryo.” He said the technique of invitro-fertilisation and embryo transfer has helped a lot of couples overcome infertility, adding that technology has gone further to use PreImplantation Genetic Testing (PGT) to ensure that embryos are normal before being put into the woman for the purpose of having healthy babies.

Midwives in Nigeria

Ayodeji Ake The National Association of Nigerian Nurses and Midwives (NANNM) has decried the shortage of nurses and midwives. The association further charged government at all levels to recruit more nurses and midwives if the nation must commit to the reduction of maternal and child mortality rate. The association also said if Nigeria wants to avoid needless deaths of her citizens, the government should ensure employment of such frontline healthcare workers to cater for the health needs of country. The charge was made at the just concluded National Executive Council (NEC) meeting of the association held in Lagos recently, where the members bemoaned the state of healthcare and the challenges facing health workers in the country. Speaking to journalists on the outcome of the NEC meeting, the president of the association, Abdrafiu Alani Adeniji, said though the government has put measures in place to reduce maternal mortality in the country, it was not enough if healthcare workers, who are custodians of patients and healthcare services are neglected and are not recognised. He said: “In Nigeria today, there is ignorance about who a nurse is. The statistics is alarming and what we have in

place today is a very precarious situation, which in the next five years, more than 50 per cent of trained and experienced Nigerian nurses would have retired. “Unfortunately, the government is not putting in place measures to even sustain those ones that have been trained, and you know that there is embargo on employment, this is why I always call on the government to declare emergency in the area of recruitment of Nigerian nurses and midwives.” He noted that recruiting a nurse would promote elongation of life expectancy of Nigerian citizenry by almost 10 to 20 per cent, while recruiting in groups would change “what we use to have presently that is very appalling”. The association, Adenuji said, seriously frowned at the specific case of abduction and killing of a midwife, Saifura Husseina Khorsa who was brutally murdered in line of duty in Borno state by her abductors. He said: “The act is totally unacceptable to all nurses and midwives in Nigeria. The association of staff is concerned that our hospitals and healthcare centres in Nigeria are yet to be free from assault, incessant attack, kidnapping and maiming even as much as killing. “We are concerned that without security in the health sector, there can’t be quality and safe healthcare services.

the CarePay ICT platform, a mobile solution for scheme administration which serves as a digital health exchange that connects the three important stakeholders in healthcare: payers, healthcare providers and the users or beneficiaries. She said: “The platform can manage various types of healthcare payments and healthcare benefits from different programs, and present these payments and benefits to the beneficiaries on their mobile phone in a clear and user friendly way. “For each hospital visit, the treatment data is submitted electronically by the healthcare provider and after approval by a medical claims assessor, the funds are moved digitally to the healthcare provider.” The Commissioner for Health, Lagos State, Dr Jide Idris, stated that the CarePay platform “will guarantee ownership of all data generated and ensure that these data can be used to make informed decisions”. He said one of the objectives was to demonstrate how digital mobile solutions can be utilised to improve decision-making and transparency, reduce transaction costs, and increase access especially for poor households. The commissioner said in collaboration with Lagos

State Ministry of Health, PharmAccess implemented the proof of concept mirroring the LSHS benefit package, provider payment mechanisms and the interaction between patients and providers. He said the proof of concept has 153 families (659 enrolees) in two facilities (one private provider and one public provider), both in Alimosho Local Government Area of Lagos State. Idris said: “Having run for a period of 12 months, the pilot witnessed the 659 beneficiaries, whose premium was paid for by PharmAccess Nigeria, received access to free healthcare for the duration of the pilot. “The results of this pilot show that the scheme is doable and is a step in the right direction towards achieving Universal Health Coverage (UHC) for the residents of Lagos State.” According to the General Manager, Lagos State Health Management Agency, Dr. Peju Adenusi, the scheme is a mandatory pre-paid health plan for all residents. Adenusi noted that the LSHS aims to as achieve universal coverage and provide financial protection against catastrophic health care spending, adding that, “a healthy population is a productive population”.

ERA/FoEN Commends FG for Strong Stance to Tobacco Treaty Talks The Environmental Rights Action/Friends of the Earth Nigeria (ERA/FoEN) has commended the Nigerian delegation that attended the just-concluded eighth conference of parties to the World Health Organisation Framework Convention on Tobacco Control (WHO-FCTC) in Geneva, Switzerland. ERA/FoEN in a statement issued in Lagos by Head, Media and Campaigns, Philip Jakpor, said that with the strong stance of the delegation throughout the talks on issues bothering on protecting the treaty from tobacco industry interference, Nigeria has taken its pride of place in the tobacco control community. The delegation, led by Minister of state for Health, Dr. Osagie Ehanire, also had the Director, Department of Public Health of the Federal Ministry of Health, Dr. Evelyn Ngige; National Coordinator of Non-Communicable Diseases, Department of Public Health, Dr. Nnenna Ezeigwe and the Director-General of the Consumer Protection Council, Mr. Babatunde Irukera. The Nigeria Customs Service (NCS) and the Standards Organisation of Nigeria (SON) were also on the delegation. ERA/FoEN said the Nigerian delegation was not only united in advocating that the tobacco industry be held accountable for tobacco harms but also became one of the standard bearers in ensuring that the treaty talks

remained focused on stamping out loopholes that might be exploited by the tobacco industry to infiltrate country delegations. ERA/FoEN Deputy Executive Director, Akinbode Oluwafemi said: “The Nigerian delegation was exemplary. We anticipate that post-COP8 the federal government will move speedily to remove all the bottlenecks to effective tobacco control in the country, particularly the draft regulations for the enforcement of the National Tobacco Control Act.” Oluwafemi said that Nigeria stood solidly behind the review of the public badges policy which had hitherto been exploited by the tobacco industry to pressure delegates to take a soft stance on implementing the treaty. “To demonstrate that heightened transparency and that no member of the Nigerian delegation had any conflict of interest that might influence their position on the treaty talks, Health Minister, Dr. Ehanire compelled them to sign a mandatory declaration of interest form and insisted this would be the practice henceforth. This is unprecedented”. According to him, this decision drew applause from other Parties and informed the decision of non-governmental organizations under the Framework Convention Alliance to award Nigeria the orchid reserved for Parties that take courageous decisions on fully implementing the WHO-FCTC.

T H I S D AY ˾ ,OCTOBER 18, 2018

HEALTH

Lalude: Reddington Can Help Nigeria Tackle Colorectal Cancer Dr. Tunde Lalude is the Chief Medical Director of Reddington Hospital Group. In an interview with Martins Iﬁjeh, he said colorectal cancer is on the increase in Nigeria because of lack of adequate treatment facilities and personnel. He futher revealed how Reddington hopes to change the narrative through experienced surgeons and state-of-the-art machines care from the healthcare system practised in the country. We feel we can bring in a lot of expertise both in preventive strategies in terms of screenings, and also curative care since we have the expertise to do the complex operations that needs to be done. We also have the sophisticated diagnosis here at Reddington.

Are we having more cases of colorectal cancer in Nigeria now than decades ago? Yes. We are having more presentations that suggest colorectal cancer than before. What was being diagnosed those days was heart attacks since they present in a similar way with colorectal cancer. But even with cases of under diagnosis experienced at the time, it was still better documented then because in those days we had better healthcare.

What internal policies do you have that gives you an edge in colorectal cancer care? We have a lot of internal processes that put more attention on consumers. For instance, we put a lot of infection control policies in place which has put us at a UK standard for sterilization. We actually expend money employing certain people who are knowledge in their particular areas. We are not just interested in treatment but interested in delivering true excellence, which means sorting excellence on things seen and unseen. In a nutshell, whatever we put our heart to do in Reddington is done with international standard practice. One thing we do is that we put a lot of emphasis on screening generally, and we emphasise on colorectal cancer prevention.

Why is Nigeria having high incidence of colorectal cancer? I will start from what I think is a very relevant statistics, which is that African Americans have about 20 per cent higher incidence of colorectal cancer ahead of the entire population of the United States, and those African Americans are mostly West Africans, who during their time in Africa had low incidence even though they were genetically prone to it, but became more prone to the disease because of the environment and the western lifestyle. So, back to Nigeria, you will realise that we are increasingly westernising our lifestyle; our level of alcohol intake, smoking, intake of processed foods, among others have all increased, and this is playing out on our health. In those days there wasn’t obesity; people were walking to the farm and taking traditional foods which are high in fibre. Now we eat a lot of processed food. Even though those more prone to it are from 50 years of age, we are now beginning to have younger people with colorectal cancer What are those speciﬁc factors causing colorectal cancer? It is a combination of the type of diet we take, smoking, alcohol intake, sedentary lifestyle, red meat intake, among others. A good diet should be high in fibre, low in fat, with average calories and low in salt. Obesity could be another factor. And then there are hereditary conditions where there is a genetic problem which predisposes to colorectal cancer. For instance, there is a condition called hereditary nonpolyposis colorectal cancer (HNPCC) or lynch syndrome, and people with this are 80 per cent at risk of colorectal cancer. How many Nigerians are at risk of colorectal cancer? We don’t have proper documentation unlike in western countries where access to healthcare is captured in a systematic fashion and data is properly obtained and kept. So it is difficult to estimate for Nigeria, but certainly it is on the rise, particularly for young patients in their 30s and 40s. The youngest I saw in the United Kingdom was 25, though I know of a 14 year-old patient. How long does it take for colorectal cancer to develop in the body? The generally accepted window for its development is about 10 years, that is why when you look at the screening guidelines in the United States and one of the modalities for screening, it is advisable for everyone to access screening every 10 years as from 50 years of age, although cancer society has recently reduced it to 45 years. The reason for 10 years is because it is believe the evolution of colorectal cancer is at least 10 years. Some Nigerian oncologists say they don’t have job fulﬁllment because their patients often present late. Why do we have late diagnosis in Nigeria? Many of our patients are not educated on the how to tackle cancer diseases on time. The issue with early stages of colorectal cancer is that it does not show symptoms, and if not diagnosed and treated on time, it continues to grow bigger until it spreads elsewhere. Stage one colorectal cancer doesn’t reach the bowel wall and can mostly be removed, but stage two reaches the wall. Stage three involves any involvement of lymph glands, while any distant spread to the liver, lungs, and the likes is stage four. Also, we can have a direct spread when the cancer has gotten

There is the belief that cancer treatment is poor in Nigeria. Can your colorectal cancer unit really provide such treatment? First of all, it will depend on the type of cancer that you are trying to treat, and as far as colorectal cancer is concerned, our outcome and numbers have been very good. Apart from me, we are in partnership with the best oncologist doctors, and we scrutinise everything we do before uploading to our data base. Lalude

to the bowel wall, such that it then spread into the abdomen. Why is colorectal cancer commonly misdiagnosed by medical experts? It is like that because some of the symptoms have been subtle. It is important to recognise these presentations. It may be change in bowel habit, particularly having a more frequent stooling. For instance, in the UK, once you have a persistent diarrhea that seems to go on and on, it triggers investigation for colorectal cancer. Any episode of rectal bleeding from the bottom should trigger investigation. The only way to confidently tell reasons for some of these symptoms is to investigate them to ensure there is no other cause for the bleeding. If I see a patient at the age of 21 years, my approach will be different from the approach to the patient of 40 years, so it is important medical experts get it right. Unexplained weight loss, abdominal pain and iron deficiency anemia could be reasons to trigger investigation for colorectal cancer. The gold standard is that if someone comes up with unexplained anemia, colorectal cancer should be investigated. But some health issues also have similar symptoms. How can that of colorectal cancer be differentiated? That is usually the problem because some of those symptoms can represent almost anything. You always need to have a high index of suspicion for you to consider which type of ailment can be responsible. The mistake often made is that cancer is not considered a potential diagnosis. It should also come as a first line of thought. Is dearth of specialists in this area contributing to misdiagnosis? I think lack of professional awareness of colorectal cancer can be an issue because we do have cases where people present symptoms which should have suggested to the professional that it may be a case of colorectal cancer, but has not triggered the appropriate response for investigation by the medical expert. How many of your kind do we have in Nigeria? To be honest I do not know, but I know quite a number of few colleagues around.

However, most are concentrated in urban areas. They are scattered in large cities like Lagos and Abuja. It is very unlikely that a colorectal surgeon will settle in rural areas. One reason is that there are certain things that you need to do your job properly, and they are often non-existent in smaller towns or rural areas. Also, affordability and environment has a correlation. Many Nigerians living in these rural areas cannot afford to see doctors, pharmacies and all, which means they pray, and at the course of that, things getting worse. We also need to educate Nigerians on the way we deal with health issues. Who is to blame for the high rise of colorectal cancer; citizens, healthcare professionals or government? I wouldn’t say anybody should be blamed in particular. It is just that our healthcare system is becoming a big problem nationwide. And I think everyone is to work together and try and spread the education about how we can deal with health issues. We need to address the facilities available in public hospitals. A lot of private hospitals have a handful of facilities, but that is not where the majority of cases are. The government has a big role to play in terms of dissemination of information as part of the preventive care, which is a lot cheaper. So why is Reddington Hospital involved in the ﬁght against colorectal cancer? Reddington has a mission to be one of the best hospitals in the country and it has equipped itself for that role. You know we are benchmarked into international standards, which is why we easily get international accreditations. So what we are doing is to try to pay attention to issues that can be addressed, and we see colorectal cancer as one of them. We are involved in varieties of healthcare, but there is a particular interest in colorectal cancer because I as a colorectal surgeon have worked for more than twenty years in this area. So we have set up a colorectal care unit to provide this care. Every single case of colorectal cancer will come to treatment, and with the increase in incidence level, we had no option considering our position in Nigeria’s healthcare space, other than to set up facilities to help. People die from the cancer type because they are unable to get

Nigerian doctors are good, but their issue is lack of equipment. Won’t the lack of the required machines hamper your work? There are doctors in Nigeria that are highly competent without machines, but at Reddington, we have the expertise and we have the machines. Once the diagnosis is made we continue treatment. Those doing our operation have been trained. Many of those who have substandard outcome are not trained on the treatment of colorectal cancer. That is why our surgeons here are those well trained with good outcome. One issue in Nigeria’s healthcare system is that we do not have a central body collating data system. Abroad, data gathering is very key, that is when you know specialists with consistently poor outcomes, and such people are stopped from operations. What colorectal cancer machines do you have? We have a state of the art endoscopy suit for diagnosis; we have a city scan; and a host of others. While we know Reddington is for the elites. How do you intend to bring poor Nigerians into your treatment plan? We can help, but government has to be clear on how to fund healthcare. We have a very low expenditure as regard our population. UK has about 70 million population and they spend about 100 to 140 billion pounds in the national health services. America spends about 18 per cent of their GDP, which is about 3.5 trillion dollars. I don’t know what the Indian health system is saying but they are working on a unitary health system so that the poor can access healthcare with their government supporting with 60 to 70 per cent of treatment cost. On our part, we are involved in Corporate Social Responsibility, particularly in the area of detection or screening, but for treatment, we will be limited because we will need to buy consumables and other essential things needed. What we can do is assist the government. For instance, we are collaborating with hospitals without equipments, yet they have patients, such that they come use our machines at reduced rates. So it does two things; reduce medical tourism, and help in training personnel. We expose these personnel to machines they don’t have.

T H I S D AY ˾ ,OCTOBER 18, 2018

HEALTH

Expanding Healthcare through Ultrasound Technology With the introduction of Lumify – a mobile application based ultrasound technology - into the Nigerian healthcare industry by Philips Healthcare Africa, it appears better days are here for the health sector. Ayodeji Ake reports

L-R:MinisterofHealth,Prof.IsaacAdewole;Leader,PhilipsWestAfrica,GeorgeUduku;BusinessMarketingManager,Ultrasound,PhilipsAfrica,AnariDeWet;CommissionerforHealth,LagosState,Dr.JideIdrisandothers,during the launch of Philip Lumify First App-Based Portable Ultrasound System in Nigeria at the MedicWest Africa Exhibition 2018 in Lagos recently AYODEJI AKE In a sector prone to what has gone wrong and what seems not to work, especially in the area of maternal and child health, primary healthcare services, disease prevention, brain drain, high death rates from diseases like tuberculosis, malaria, hepatitis B, and a host of others, there seems to be a glimmer of hope as concerned organisations have started deploying latest healthcare technologies into the country to help reduce healthcare burden and improve health indices of Nigerians. One of such organisations is Philips Healthcare Africa. It recently deployed the latest technology of ultrasound devices into the country as one of the facilities needed to addressing the myriads of the country’s healthcare challenges. The ultrasound technology, known as Lumify; a portable mobile application based approach to ultrasound delivery, brings together mobile applications, advanced ultrasound transducer technology, integrated information technology training, education and support services to help healthcare providers improve care of patients and reduce costs of care. Unveiling the technology at the Medic West Africa 2018 held in Lagos recently, the Chief Executive Officer, Philips Africa, Jasper Westerink described the Lumify

point-of-care technology as the first ever integrated portable ultrasound system that breaks down barriers experienced by healthcare providers, medical students, teaching institutions, disaster relief organisations and hospitals with satellite clinics. He said with Lumify, Nigerian patients and healthcare professionals will now be able to make easy and quick diagnosis, with seamless access to treatment if the need arise. Westerink said: “Lumify is designed for emergency departments and urgent care centres, as well as other clinical settings, and will operate from a compatible smart device connected to a Philips ultrasound transducer. From description, Users will also have access to online portal where they can manage their device and access support, training and IT services. “The transducer supports a variety of clinical allocations, including soft tissues, musculoskeletal, lung and vascular scanning. The C5-2 offers abdominal, lung and gallbladder re-sets and has obstetry and gynaecology capabilities,” adding that the technology’s new transducer, the S4-1, has presets for cardiac and fast examinations.” He said the device was invented as a

result of a transformation drive in the healthcare system, adding that its unique way of combining connectivity, simplicity, portability and flexibility has enabled clinicians perform examinations across a variety of clinical settings, from cardiology suites down to under resourced semi-urban and rural areas. “With this, Nigerian clinicians, as well as family doctors at small outpatient clinics can now perform scans themselves, speeding up the diagnosis process and possible treatments” he added. He further explained that the device is an open innovation platform aimed to deliver the benefits of ultrasound early in the health continuum and expand access among more healthcare providers. Speaking on the importance of the device, the Centre Manager, BT Health Diagnostic Centre, Lagos State University Teaching Hospital, Dr. Wale Olusanya, said this will make diagnosis easy in Nigeria, adding that the safety of the point of care has made it one of the most widely used first-line diagnostic tools across the globe. He said: “In a constrained environment, technology like Lumify can strengthen referral

pathways, thereby affording quick diagnosis in emergency situations, especially in hard to reach rural areas across the country. The Lumify system is powered by Innovative Imaging Technology (IIT). This innovation connects clinicians around the globe in real time by turning a compactable smart device into an integrated tele-ultrasound solution, combining two-way audio-visual calls with live ultrasound streaming.” He said with the system, healthcare professionals can have a face-to-face conversation with their patients, while users can switch to the front-facing camera on their smart device to show the position of the probe. “They can then share the Lumify ultrasound stream, so both parties are simultaneously viewing the live ultrasound image and probe positioning, while discussing and interacting at the same time. In addition to clinicians seeking virtual guidance, this device can be used to teach medical students”, he added. On his part, the Minister of Health, Professor Isaac Adewole, commended Philips Healthcare Africa for the innovative technology, adding that the federal government will continue to put the health of Nigerians on the front burner.

SFH,Novartis Join Forces to Fight Chronic Diseases Ugo Aliogo The Society for Family Health (SFH) and Novartis Social Business have signed an agreement to implement Novartis Access in Nigeria. Through the partnership, SFH will distribute Novartis Access medicines

to treat chronic diseases to the vulnerable populations in health facilities and in hospitals and clinics SFH is working with in the country. According to a statement made available to THISDAY by the SFH Media Relations, Donald

Etim, it was noted that the collaboration also includes capacity-building activities and community awareness. The statement explained that Novartis Access portfolio includes high-quality medicines targeting four key chronic diseases, also known as non-communi-

cable diseases (NCDs); cardiovascular diseases, type 2 diabetes, respiratory illnesses, and breast cancer. The statement said the portfolio covers the world’s most frequently prescribed medicines for chronic diseases. The Managing Direc-

tor of SFH, Sir Bright Ekweremadu, said Nigeria is increasingly affected by the burden of non-communicable diseases as lifestyles and habits become more sedentary. He added: “We have been working for more than 30 years to help

Nigerians, particularly the poor and most vulnerable, to leave healthier lives including by improving access to essential health services. “This collaboration with Novartis Social Business is part of the solution to the challenges of the poor who are most at risk of NCDs.”

T H I S D AY Ëž OCTOBER 18, 2018

BUSINESS/MONEYGUIDE

Fowler Harps on Improved Digital Revenue for Nigeria, Others Peter Uzoho The Chairman of the Federal Inland Revenue Service, Mr Babatunde Fowler, has advised developing countries to grow Value Added Tax (VAT) and revenue from the digital economy in order to lessen dependence on income from natural resources. Fowler, who is also the First Vice Chairman of the United Nations International Committee of Tax Experts and Chairman, African Tax Administration Forum (ATAF), was quoted in a statement to have given the advice in New York in an address delivered at the opening of the Meeting of the United Nationsâ€™ Economic Council (ECOSOC) on Taxation on and Digitalisation of the Economy and Taxation of ODA-Funded

Projects recently. He stressed that developing nations should focus on taxation, as they have no control over prices of goods produced by developed economies from the natural resources they export. Using technology to capture all the VAT available, Fowler said Nigeria, in the last one year, has increased its tax revenue base by 800,000 corporate accounts and grown non-oil tax revenue to a stage that it accounts for 64.3 per cent of total revenue from 42.8 per cent between 2012 and 2014. â€œWe have moved away from an oil-dependent revenue source to a non-oil revenue source. At the same time, we have focused on VAT. VAT continues to be the fastest growing tax type in the world and I was quite amazed when the UAE spoke

about introducing VAT,â€? he said. Fowler, disclosed that Nigeria realised N767 billion from VAT in 2015, N828 billion in 2016 and N972 billion in 2017, a growth of about 25 per cent, a development he ascribed to political will, international collaboration and cooperation of the judiciary, which recently yielded a favourable judgement over Vodacom in the case of VAT liability for a non-resident company. He urged other developing countries to follow the Nigerian example, which according to him includes tax treaties that assist collection and remittance. He maintained that the only way to ensure sustainable socioeconomic development would be through taxation and called on developing countries to reform their tax processes.

Directors Urged to Create Enabling Environment for Agric Export Ugo Aliogo A Director at Zenith Bank Plc, Prof. Oye Ibidapo-Obe has called for the creation of opportunities for the acceptance of the countryâ€™s agricultural produce in Europe. This, he said would make Nigeriaâ€™s agricultural produce commercially viable and address challenges in the value chain. Ibidapo-Obe, disclosed this weekend in Lagos during the Institute of Directors (IoD) 2018 New Members Induction Ceremony with the theme: â€˜Our Stochastic World: Measurable Innovations in Nigeriaâ€™s Developmentâ€™. He urged directors to find a way of improving the quality of the local agriculture produce

so that the produce can have direct access to the Euro market. He expressed displeasure that agriculture produce from Ghana, and other African countries make it to the Euro market, while produce from Nigeria are recognised. Ibidapo-Obe, charged directors to look beyond low hanging fruits, and think deep about improving the activities in the agriculture value chain. He expressed confidence that technology, if properly harnessed would play a key role in driving growth in business ecosystem. â€œDirectors should find a way of improving the quality of our local agriculture produce so that we can have direct access to the Euro market. The directors should beyond low hanging

fruits, let them start thinking deep in order to get results. â€œTechnology will make a key in role in driving growth in business ecosystem. When we are voting in elections, letâ€™s talk about people that are innovative. Those that are usually innovative are younger people,â€? he stated. In another development, Ibidapo-Obe stated that in order to move forward as a nation, there is need to change the rhetoric and attitudes towards the country. He added: â€œThe ranking they gave our country in my own estimation is not appropriate. We much better than that. The only reason why they are able to bring us down is because of the things we say about our country.â€?

FBN Insurance Unveils Three Retail Products Ebere Nwoji FBN General Insurance Limited has launched into the main stream of retail insurance market through the unveiling of three products. The products are Auto Flexi Insurance, Flexi Home Insurance and Flexi Guard Insurance. The company said each of the products which have been approved by the National Insurance Commission (NAICOM) are of three variants. The Managing Director FBN General Insurance Mr Bode Opadokun, while addressing the media, said the products were introduced to harness the untapped opportunities in the retail segment and deepen insurance penetration in the country.. According to him, the products are simple, affordable and flexible and do not have depreciation and excess. He said Auto Flexi was designed to meet customersâ€™

specific needs, stressing that it came out of customersâ€™ requests. â€œWe have seen several instances where some of our customers both existing and prospective having issue of pricing. Pricing in terms of affordability and ability to pay the premium that is applicable based on the value of some of the vehicles,â€? he said. Opadokun posited that the policy also covers the insured in the event of damages due to an accident and fire damage up to the agreed value insured. Speaking on the Auto Flexi insurance, Opadokun said FBN General Insurance observed the magnitude of loss suffered by insurance industry as a whole on negligence of comprehensive motor insurance. Speaking further on the product, Opadokun said: â€œIt gives you the opportunity irrespective of the value of the vehicle to have comprehensive insurance. â€œWhat this means is that we

indemnify you up to the sum assured.â€? He added that where the sum of repair is more than N1 million, â€œwe will not throw away the vehicle but pay you up to N1million you can insure N500,000 and pay N25000.â€? Testifying on the acceptance of the product, Opadokun, said within the short period the product has been approved by the regulator the interest and response has been overwhelming especially from those that had been doing only third party. He said the FBN Flexi home cover is for upcoming corporate executives, adding that contrary to their feelings that it is the rich that need insurance, start-ups need insurance as well. The FBN General insurance Flexy guard he said is a protection policy that covers individual against risk and injury during the course of carrying out his daily activities.

L-R: Publisher, BusinessDay Media, Frank Aigbogun; Vice President, Consumer Sales and Service, 9mobile, Ken Ogujiofor; MD/CEO, Nestle Nigeria, Maurico Alarcon and Acting Director, Regulatory and Corporate AďŹ€airs, 9mobile, Oluseyi Osunsedo, during the ninth Annual Edition of BusinessDay CEO Forum 2018 held in Lagosâ€Ś recently

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

MARCH 2018 Broad Money (M2)

24,303,049.86

-- Narrow Money (M1)

10,912,604.10

---- Currency Outside Banks

1,668,378.21

---- Demand Deposits

9,244,225.90

-- Quasi Money

13,390,445.76

Net Foreign Assets (NFA)

15,619,134.18

Net Domestic Assets(NDA)

8,683,915.68

-- Net Domestic Credit (NDC)

26,267,136.53

---- Credit to Government (Net)

3,823,345.45

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

5,433,209.43

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

-1,609,863.98

---- Credit to Private Sector (CPS)

22,443,791.08

--Other Assets Net

-17,583,220.85

Reserve Money (Base Money)

6,746,646.49

--Currency in Circulation

1,668,378.21

--Banks Reserves

4,357,551.58 Ëž Ă™Ă&#x;ĂœĂ?Ă? Ě‹

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

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

OPEC DAILY BASKET PRICE AS AT TUESDAY OCTOBER 16, 2018

CBN, MTN Getting Closer to Settlement, Says FG The Central Bank of Nigeria and MTN Nigeria may soon strike a deal in their dispute over the repatriation of $8.1 billion, Information Minister, Lai Mohammed said on Wednesday. The central bank says MTN transferred $8.1 billion

of funds out of Nigeria in breach of foreign-exchange regulations. Nigeria, which accounts for a third of the South African companyâ€™s annual core profit, is MTNâ€™s biggest market. â€œI am sure there will be a settlement and I believe they are getting

closer to resolving it,â€? Mohammed told Reuters during a visit to London. â€œThey are â€˜businessmenâ€™ and they are going to resolve it... it is in the interest of all the parties that this matter will be resolved,â€? he said, declining to give any further details.

The price of OPEC basket of ďŹ fteen crudes stood at $79.02 a barrel on Tuesday, compared with $79.31 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), ZaďŹ ro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela) SOURCE: OPEC headquarters, Vienna

T H I S D AY ˾ OCTOBER 18, 2018

MARKET NEWS

GTBank Grows Nine Months’ Profit After Tax by 13 to N142 Billion Goddy Egene Guaranty Trust Bank Plc yesterday reported gross earnings of N337.22 billion for the nine months ended September 30 2018. This showed an increase of nine per cent, compared with N309.16 billion posted in the corresponding period of 2017. The bank’s net interest income fell by 10 per cent to N170.6 billion from N189.7 billion, while net fee and commission income stagnated

at N37.84 billion. However, loan impairment charges declined by 79 per cent to N1.74 billion, from N8.357 billion in 2017. GTBank’s profit before tax (PBT) rose nine per cent from N150.032 billion to N164.245 billion. But a reduction in taxation by 10 per cent boosted the profit after tax (PAT) to grow faster by 13 per cent to N142.224 billion, up from N125.578 billion. Meanwhile, analysing the third quarter results, analysts at Cro-

P R I C E S MAIN BOARD

F O R

DEALS

dros Capital Limited said gross earnings stood at N110.59 billion, which is 16 per cent above the figures of 2017 but six per cent lower compared to the previous quarter. “Interest income declined in the quarter by seven per cent q/q, as against the marginal growth recorded in Q2. Interest on customer loans in the Q3 declined by four q/q, amidst the continued decline in the bank’s loan book. Coupled with

S E C U R I T I E S

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

an increased interest expense (+3 per cent y/y, flat q/q) in the quarter, net interest income was lower by nine per cent q/q and 12 per cent,” they said. They explained that on the positive, loan recoveries in the quarter led to a net gain in loan impairment charges, even as the bank’s loan book (-2 q/q) continued to contract. “Also, NPL ratio decreased to 5.57 per cent vs. 7.66 per cent . It is also worth stating that

T R A D E D MAIN BOARD

A S

the continued decline in loans (-12 per cent YtD), coupled with sustained increase in deposits (+9 per cent ), has contributed to the decline in loan-to-deposit ratio to 48.21 per cent vs. 58.91 per cent in FY-17,” Cordros Capital said. According to them, overall, GTBank’s performance in the Q3-18 period was impressive, with top and bottom lines posting 16 per cent and 11 per cent y/y growth, respectively.

O F

“The N142.2 billion net profit reported as at 9M-18, on an annualised basis, is above consensus’ estimate for the full year by seven. GTBank’s stock closed positive in yesterday’s trading session, but has lost 10 per cent YtD. We do not expect negative reaction to the bank’s result in tomorrow(today)’s session. GTBank remains among our top picks, with a target price of N52.45, 42 per cent above closing price of N37,” they said.

1 6 / 1 0 / 2 0 1 8 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

˾ THURSDAY, OCTOBER 18, 2018

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dŚĞ ůŽĐĂů ďŽƵƌƐĞ ƐŚĞĚ ŐĂŝŶƐ ĨƌŽŵ ǇĞƐƚĞƌĚĂǇ͛Ɛ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶ ĂƐ ŝŶǀĞƐƚŽƌƐ ďŽŽŬĞĚ ƉƌŽĮƚ ŝŶ DANGCEM ( 2.4%), ZENITH ( 1.1%) and NIGERIAN BREWERIES ( 0.6%). Consequently, the All Share Index declined 87bps to 32,437.35, YTD loss worsened to ϭϱ͘Ϯй ǁŚŝůĞ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝǌĂƟŽŶ ƐĞƩůĞĚ Ăƚ Eϭϭ͘ϴƚŶ ;ĚŽǁŶ EϭϬϰ͘ϬďŶͿ͘ ĐƟǀŝƚǇ ůĞǀĞů ŵŽǀĞĚ ŝŶ ƚĂŶĚĞŵ ǁŝƚŚ ƚŚĞ ďƌŽĂĚĞƌ ŝŶĚĞǆ͕ ĂƐ volume and value traded fell 63.3% and 31.1% to 240.8m ƵŶŝƚƐ ĂŶĚ Eϯ͘ϳďŶ ƌĞƐƉĞĐƟǀĞůǇ͘ ZENITH (87.1m units), UBA (68.4m units) and FIDELITY (15.9m units) were the top ƚƌĂĚĞĚ ƐƚŽĐŬƐ ďǇ ǀŽůƵŵĞ ǁŚŝůĞ ZENITH ;EϮ͘ϬďŶͿ͕ UBA ;EϬ͘ϲďŶͿ ĂŶĚ DANGCEM ;EϬ͘ϱďŶͿ ůĞĚ ďǇ ǀĂůƵĞ͘

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T H I S D AY ˾ ˜ ͹΀˜ ͺ͸͹Ͷ

MARKET NEWS

Lafarge Africa Posts N234bn Revenue on Commercial Strategy Impact Goddy Egene

Lafarge Africa Plc has announced a revenue of N234.3 billion for the nine months ended September 30, 2018, showing an increase of 4.7 per cent above the N223.6 billion recorded in the corresponding period of 2017. The company attributed the improved sales to its commercial strategy coupled with continued improvement in its Nigeria market led to 17.4 per cent in

cement volume sold. A further analysis of the results showed that Lafarge Africa Plc cost of sales went up to N178.2 billion, compared with N165.7 billion in 2017, while sales and marketing cost rose from N2.982 billion to N4.45 billion. Administrative expenses also rose from N29.166 billion to N32.62 billion due to generally high operational costs. Lafarge Africa ended the period with operating profit of N19.131billion, down from

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

N28.67 billion. Finance cost rose from N28.512 billion to N34.928 billion. Consequently, the cement firm closed the nine months with a loss of N10.373 billion as against a profit of N937 million in 2017. The company explained that earnings before tax, depreciation and amortisation (EBITDA) for the third quarter (Q3) increased significantly as a result of improved performance in South Africa while it was down for the nine-month period due to

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 1610-2018, unless otherwise stated.

South Africa’s performance in the first two quarters of 2018. According to the Chief Executive Officer of Lafarge Africa Plc, Mr. Michel Puchercos: “We continued to deliver strong margins in our Nigerian business as a result of our successful commercial strategies with improved product visibility and the fast tracking of the new route to market. Our energy efficiency plan translated in increased use of alternative fuel and coal. Our South African operations

delivered first positive recurring EBITDA and are focused on executing its turnaround plan.’’ He further stated that the company successfully inaugurated a new grinding station in Ghana with a capacity of 600KT. The company said going forward, its outlook for the cement market in Nigeria remains favourable in Q4. “In South Africa, we expects the execution of our turnaround plan will continue to yield positive results. All product lines

are expected to contribute to the performance,” the company said. The Board of Lafarge Africa Plc had last September approved the refinancing of the shareholder loan to $293 million with longer maturity and a Right Issue of up to N90bn. Speaking on the restructuring, Chief Financial Officer of Lafarge Africa Bruno Bayet, said: “The restructuring is aimed at reducing the Company’s leverage position as well as strengthening its profitability.”

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 -5.28% 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 134.95 135.90 -11.04% 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 10.72% Paramount Equity Fund 11.61 11.90 4.67% Women's Investment Fund 102.25 104.87 1.61% 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 11.89% 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 11.37% 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 11.69% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 12.34% 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 141.03 141.97 0.67% FBN Money Market Fund 100.00 100.00 11.93% FBN Nigeria Eurobond (USD) Fund - Institutional $114.28 $115.79 4.06% FBN Nigeria Eurobond (USD) Fund - Retail $114.06 $114.54 3.96% FBN Nigeria Smart Beta Equity Fund 152.00 154.15 -4.56% 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 3.18 3.18 9.91% Legacy USD Bond Fund 1.01 1.01 1.51% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Growth Fund N/A N/A N/A Coral Income Fund N/A N/A N/A GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund 100.00 100.00 11.62% Nigeria Entertainment Fund N/A N/A N/A 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 ﬁncon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.19 1.21 3.80% Lotus Halal Fixed Income Fund 1,070.61 1,070.61 11.03% 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 11.49 11.59 -11.46% Meristem Money Market Fund 10.00 10.00 11.59% 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 2,267.51 2,282.14 3.22% Stanbic IBTC Bond Fund 186.83 186.83 7.30% Stanbic IBTC Ethical Fund 0.95 0.96 -5.45% Stanbic IBTC Guaranteed Investment Fund 243.26 243.30 12.73% Stanbic IBTC Iman Fund 162.29 164.10 -9.39% Stanbic IBTC Money Market Fund 100.00 100.00 11.48% Stanbic IBTC Nigerian Equity Fund 8,560.30 8,664.69 -9.99% Stanbic IBTC Dollar Fund (USD) 1.09 1.09 5.98% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.17 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 11.41 11.58 -6.15% Zenith Ethical Fund 12.25 12.36 -5.20% Zenith Income Fund 20.43 20.43 10.74% Zenith Money Market Fund 1.00 1.00 10.96%

REITS NAV Per Share

Yield / T-Rtn

138.53 51.55 51.55

N/A 4.58% 1.42%

Bid Price

Offer Price

Yield / T-Rtn

10.65 122.42 93.00

10.75 125.01 94.74

-10.14% -14.30% -14.87%

Fund Name FSDH UPDC Real Estate Investment Fund SFS Skye Shelter Fund Union Homes REIT

EXCHANGE TRADED FUNDS Fund Name Lotus Halal Equity Exchange Traded Fund SIAML Pension ETF 40 Stanbic IBTC ETF 30 Fund

VETIVA FUND MANAGERS LTD Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Vetiva Banking Exchange Traded Fund Vetiva Consumer Goods Exchange Traded Fund Vetiva Grifﬁn 30 Exchange Traded Fund Vetiva Industrial Goods Exchange Traded Fund Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund

SPECIALIST FUNDS*

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

4.13 7.50 15.27 14.93 143.77

4.17 7.58 15.37 15.13 145.77

-12.72% -21.57% -12.58% -24.00% 6.82%

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.

T H I S D AY ˾ ͯͶ˜ ͰͮͯͶ

T H I S D AY Ë¾ THURSDAY OCTOBER 18, 2018

T H I S D AY ˾ ͯͶ˜ ͰͮͯͶ

T H I S D AY Ë¾ THURSDAY OCTOBER 18, 2018

T H I S D AY ˾ ͯͶ˜ ͰͮͯͶ

THURSDAY OCTOBER 18, 2018 ˾ T H I S D AY

FOREIGN/DIPLOMATIC AFFAIRS

Canada Legalises Free Sale of Marijuana in Stores Nationwide Use and sale of marijuana is now legal in Canada which becomes the second and largest country with a legal national cannabis (marijuana) marketplace. Canadians will now be able

to order marijuana products through websites run by provinces or private retailers and have it delivered to their homes by mail. According to Associated Press, Tom Clarke, an illegal cannabis

Joe Biden Admits Age Would be an Issue in Presidential Bid Former US Vice President, Joe Biden, has conceded that his advanced years would be an issue if he ran for president in 2020. At 75, Biden is three years older than Republican President Donald Trump and would be 77 by the time his party’s primary contest got underway. “I think age is a totally legitimate thing to raise,” said Biden, who was vice president under Barack Obama, during a speech in Michigan on Tuesday. “It’s totally appropriate for people to look at me and say if I were to run for office again, ‘Well God darn you’re old,’” he said in remarks carried

by CNN television. “Well, chronologically I am old.” Biden is often cited as a potential Democratic candidate who packs a solid resume and has some of the common touch needed to lure voters from Trump’s populist movement. Among other big Democrat names seen as potential candidates are populist leftist Bernie Sanders, 77, and media mogul Michael Bloomberg, who is 76. Trump was the oldest American in history to begin a first presidential term when he entered the White House at age 70 years and 220 days in 2016. He says he is “100 percent” sure to seek reelection.

Israel Shuts Gaza Crossings after Rocket Attack Israeli Defence Minister, Avigdor Lieberman, yesterday ordered shutdown of the crossings between Gaza and Israel after Gaza militants fired rockets at Israel, a statement released by the Defence Ministry said. According to the statement, Lieberman instructed the military to shut down the Erez Crossing, the only pedestrian passage between the besieged Palestinian enclave and Israel, and the Kerem Shalom Crossing, a passage for goods. Lieberman also imposed further restrictions on the allowed fishing zone in Gaza. The moves were retribution to rockets fired from Gaza at southern Israel earlier on Wednesday. One rocket hit a residential home in the southern city of Beersheba, causing damage. Two people were injured as they ran to seek cover. Another rocket fell in the sea across central Israel shores. In response, Israel launched a wide-scale air attack, targeting Hamas sites, according to the military. At least one Palestinian was killed by the strikes and three others were injured, local media reported. The escalation came after weeks of tensions. Gazans have been holding demonstrations near the fence separating Gaza from Israel since March 30, to protest blockade imposed by Israel and Egypt. The protest includes occasional launching of helium-filled balloons to set fires in southern Israel’s arid farmlands.

Israeli warplanes carried out airstrikes in Gaza on Wednesday morning after rockets were launched from the besieged Palestinian enclave, with one hitting a home in southern Israel. “At this time IDF (Israel Defence Forces) fighter jets started attacking terror targets in the Gaza Strip,” a military spokesperson said in a statement just before 7 a.m. l (0400 a.m. GMT). At least three people were injured in the strikes on Gaza, according to local media. A police spokesman said a rocket fired by militants from Gaza struck a residential home in the city of Beer Sheva in southern Israel. A spokesman for Magen David Adom medical emergency service said a mother and her three children whose home was struck were being treated for shock. He said that two other people were injured during a panic to seek cover when the projectile triggered sirens across the city. Later, another rocket fell short in the sea across the shore of central Israel, causing no damage or injuries, according to the police. The municipality of Beer Sheva said that in the wake of the strike, all of the city’s schools and kindergartens would remain closed Wednesday. The rocket attack was one of the first in months and came amidst renewed tensions between Israel and Hamas. The fire came less than a day after Lieberman said his country should deliver a “serious blow” to Gaza Strip’s Hamas.

dealer for three decades, was among the first to make a legal sale in Canada when his store opened at midnight (02:30 GMT) in Portugal Cove, Newfoundland. “I am living my dream. Teenage Tom Clarke is loving what I am doing with my life right now,” he rejoiced. An AP survey says that at least 111 legal cannabis shops are planning to open across the nation on the first day. Many Canadians have queued up in stores waiting to buy cannabis as freely as they would buy a cup of coffee. Hours before retail outlets opened, a federal official told

AP Canada will pardon all those with convictions for possessing up to 30 grams of marijuana, the now-legal threshold. A formal announcement was planned for later Wednesday. The official, who was not authorized to speak publicly ahead of the announcement, said those who want to take advantage of the pardons will have to apply. Canada has had legal medical marijuana since 2001 and amid excitement over the arrival of legal recreational cannabis many in the industry spent the last days of prohibition on tasks familiar to any retail business – completing displays, holding mock openings and training

employees to use sales-tracking software. Prime Minister Justin Trudeau and his cabinet spent about two years planning for legalisation, fueled by a desire to bring dealers like Clarke out of the black market and into a regulated system. Canada’s national approach has allowed for unfettered industry banking, inter-province shipments of cannabis and billions of dollars in investment – a sharp contrast with national prohibition in the United States. Nine US states have legalised recreational use of cannabis and more than 30 have approved medical marijuana.

“Now that our neighbour to the north is opening its legal cannabis market, the longer we delay, the longer we miss out on potentially significant economic opportunities for Oregon and other states across the country,” US Democratic Senator Ron Wyden of Oregon said in a statement. Each province in Canada is however making its own legislations wothin the framework of the new federal government legislation. While some are operating government-run stores, others are allowing private retailers. Some others allow both government and private stores.

T H I S D AY ˾ ͯͶ˜ ͰͮͯͶ

THURSDAY OCTOBER 18, 2018 ˾ T H I S D AY

NEWSEXTRA

Senate in Rowdy Session over Sitting Arrangement Approves CCB chair nominee, six others, rejects three To screen Olukoyede as EFCC scribe Akpabio asks Saraki to resign Deji Elumoye in Abuja The plenary of the Senate began on a charged note yesterday as Senators threw caution to the winds as they openly disagreed over sitting arrangements for Senators who defected from one party to the other. The Senate yesterday also approved the appointment of Dr. Muhammed Isah, as Chairman of the Code of Conduct Bureau (CCB). This is coming as the upper chamber has also directed its committee on Anti- Corruption and Financial Crimes to screen Olanipekun Olukoyede as Secretary of the Economic and Financial Crimes Commission (EFCC).

Also a former Senate Minority Leader, Senator Godswill Akpabio, has advised Senate President, Dr. Bukola Saraki, to vacate his position having defected from the All Progressive Congress (APC) to the Peoples Democratic Party (PDP) The rowdy session began with the attempt made by Akpabio to react to an allegation made by Senator Bassey Akpan ( PDP Akwa Ibom North East) from a seat without microphone. This development led to near physical assaults among senators of the two major parties - APC and PDP. Senator Akpan speaking through Order 43 of the Senate standing rule under self

Army Parades 13 Suspects in Jos over Missing General Seriki Adinoyi in Jos Commander, Search and Rescue Operations for the missing Major-General Idris Alkali (rtd), Brigadier-General Umar Mohammed, yesterday, paraded 13 arrested suspects allegedly involved in the kidnapping of the missing retired Army General. A woman who allegedly organised a violent protest against the operation to evacuate the death pond was among the 13 suspects. Narrating the missing Army General’s ordeal, Mohammed said: “The immediate past Chief Administration (Army), Major-General Idris Alkali who recently disengaged from service, was travelling on Abuja-Jos-Bauchi road axis on September 3, 2018, and he is yet to be seen and has not been able to make contact with family members or acquaintances since then. “The senior officer was not aware that the youths in the area were attacking innocent and unsuspecting motorists as well as others not known due to attack by unknown gunmen in their community the previous day.

All attempts to contact him on his mobile phone proved abortive. The senior officer was travelling alone in a black coloured Toyota Salon car. “The rescue and search parties narrowed the search to DuraDu district in Jos South Local Government area which witnessed violent riot on 3 September 2018. The geographical location also showed the likely position to be one of the abandoned mining pits filled with water at Lafande Community in Jos South Local Government area of Plateau State.” Having pumped the water from the abandoned mining pit for two weeks or thereabouts despite protests by women attributing all kinds of evil that would befall their husbands and children, if the water was drained, the following were however recovered: A white Toyota Liteace bus with registration number PLATEAU RYM 307 XA, which was reported missing with the driver on 24 June 2018 and a red Rover Car with registration number BAUCHI AG 645 TRR which was allegedly reported to have been buried along with the occupants on 31 January 2013.

Alhassan Retrieves Computers, Funiture from Taraba APC Former Women Affairs Minister, Aisha Alhassan, who recently resigned her appointment and dumped the All Progressives Congress (APC) has retrieved computers and furniture she donated to the party’s state secretariat in Jalingo. According to APC’s Publicity Secretary in the state, Mr. Aaron Artimas,the former minister also removed rugs, air-conditioning sets and tables she had bought for the political party when she was a member. “We find this development shameful, unfortunately, it is true. The former minister has emptied the office she furnished when she was a member of the APC,” Artimas told the News Agency of Nigeria (NAN) yesterday in Jalingo. Artimas said that the party leadership obliged her request and watched as she removed everything from the party secretariat. He expressed surprise that the former

minister stooped so low to recover even minor items she had donated to the party. “It is amazing to us because Alhassan was the highest beneficiary of the party in the state,” he claimed. Artimas saidAlhassan had embarrassed herself with that action because she was still enjoying the benefits that accrued to her as a minister under the APC-led federal government. “It is a very shameful action, but we shall leave her to conscience,” he said. Reacting, however, Alhassan said that she did not order the removal of the items, but supported it because of the injustice the party meted to her. “I bought the items with my money; when my boys told me they were removing them from the party secretariat, I gave them the go-ahead because the APC does not deserve anything of mine,” she told NAN in an interview from Abuja.

explanation, had alleged that leaders of APC in Akwa Ibom State were plotting to scuttle gubernatorial election scheduled for March 2, 2019 to pave way for an isolated election to be rigged with federal might . According to him, “I rise through order 43 under self explanation to draw the attention of Senate and by extension, the good people of Nigeria to a plot being hatched by the leadership of the APC in Akwa Ibom State to cause mayhem in the state during the gubernatorial election slated for Saturday , March 2, 2019 across 29 states in the country. “The plot of the Akwa Ibom APC chieftains to scuttle the election in the state through violence , is to ensure cancellation of the election in the state on that day for an isolated exercise later , upon which the so-called

federal might would now be used to rig it in favour of their candidate. “Akwa Ibom is a PDP state that is working and well known to all Nigerians . It is a very peaceful state; the reason why i am raising this alarm on planned violence against the state in 2019 general elections by APC leaders in the State. Senator Akpabio at this point stood up to react through a different point of order but was stopped by the Senate President,Dr Bukola Saraki for allegedly sitting in a wrong place without a microphone. Saraki’s action attracted the attention of the Senate Leader, Senator Ahmed Lawan ( APC Yobe North), who rose from his seat to kick against his stand. According to him, sitting arrangement in the Senate had been disorganised since July 24

when Senators defected from APC to PDP and vice versa. “Mr President , I agree as a ranking Senator that there should be arrangement of sitting in the senate along majority and minority lines but the gale of defections that happened across party lines within the last few months had altered it very seriously, the very reason we need to be very cautious in the way we run our affairs for the remaining seven months,” he said. Attempts made by the Deputy Senate President, Senator Ike Ekweremadu, to restore sanity through a point of order proved abortive as both the Senate Leader, Senator Ahmed Lawan and Senator Kabiru Marafa ( APC Zamfara Central) interrupted him by shouting that Akpabio should be allowed to speak.

These developments came in an already charged atmosphere where Senator Dino Melaye ( PDP Kogi West ) openly invited the APC Senators for physical combat and Senator Emmanuel Paulker arguing against allowing Akpabio to react since Senator Akpan’s allegation came under order 43. The Senate President however, quickly intervened by explaining that Akpabio was prevented from speaking as a result of wanting to do so from a seat without microphone and not allocated to him by the clerk of the Senate , Nelson Ayewoh. “Distinguished colleagues, I never prevented Akpabio from speaking but he cannot do so from a seat without microphone and allocated to him by the clerk of the Senate .He should go to a seat with microphone to make his submission “ , he said .

SET FOR LAGOS MARATHON...

L-R: Managing Director, Access Bank, Herbert Wigwe; AFN President, Ibrahim Shehu Gusau; Kiky Bob of Bet9ja; Vice President, Kia Motors Nigeria, Mr. Olu Tikolo; Lagos State Governor, Mr. Akinwunmi Ambode; Managing Director, Kia Motors Nigeria, Jacky Hathiramani; and Chairman, Lagos State Sports Commission, Dr. Kweku Tando; during a press conference on the 2019 Lagos City Marathon at the Lagos House, Alausa, Ikeja… recently

FG Approves ‘No Work, No Pay Rule’ for Workers He said: “Another area is that of public servants remaining permanently in the executive bodies of trade unions. “Government realises that some persons in the public service go into trade union executive positions, hold offices for life as long as they are in the service. And in doing so, they will refuse postings and redeployment under the guise that they are doing trade union activities. Government says no. “You have to be a public servant first before you become a trade unionist. Therefore, if you are there, the public service rules should also be applied to you and in doing so, government says establishments will look at issues and give it a human face in order not to disrupt trade unionism and in furtherance to this, government has also said there must be tenure stipulations because people stay there without tenures. “Many organisations give people union positions without tenure. Now government has said there is no office that doesn’t have tenure. Trade unions now should

give us their constitution that must have tenures at least maximum of two tenures for any elective position.” Ngige who also said the White Paper had fixed seven years of training for resident doctors, noted that the matter had become contentious, pointing out that some medical doctors go for resident training only to join professional bodies and become permanent unionists in contrast to the rule. He said in a bid to put paid to this, seven years had been fixed for resident training and any medical doctor who fails to pass his examinations within the period must quit the programme forthwith. “The next point is the issue of resident training for medical doctors. The medical training for resident doctors has been contentious. Some medical doctors come into the training and become professional unionists and stay there as permanent job. “The residency training is actually not a permanent job, as such, it is a conveyor built arrangements by which you stay

and drop off and another set of people come in. So, government has fixed a tenure for resident training. Seven years within which you can pass all your examinations. If you don’t pass all your examinations after seven years, you quit,” Ngige said. He also said the White Paper seeks to end situations where after collective bargaining, one group begins to circulate fake information that was not contained in the resolution reached at the meeting. Meanwhile, the Nigeria Labour Congress has said that no threat can stop workers from going on strike to protest unfair treatment. The President of the NLC, Mr. Ayuba Wabba who reacted to the federal government’s decision to adopt a ‘no work, no pay rule,’ in the event of worker’s industrial action, said that the right to a strike action is a human and trade union right, which cannot be wished away, Wabba said: ‘The treat of ‘no work, no pay,’ cannot therefore, deter workers and trade unions from exercising the right to strike,” he said. Wabba added that the same law

provides that a workers’ wage is due after 30 days. “The threat of no work no pay cannot therefore deter workers and trade unions from exercising the right to strike. “There are clear procedures provided by law to embark on a strike, once the legal requirement is met no work no pay can not apply,” he said. In a related development, the governors of the 36 states of the federation met yesterday night to deliberate on issues relating to disbursement of Paris Club refund and the primary healthcare delivery in the country. The President of NLC, Wabba joined the governors at the meeting which was still ongoing as at the time of filling this report. Some of the governors at the meeting Abudulaziz Yari (Zamfara), Abdulahi Ganduje (Kano), Nasiru El-Rufai (Kaduna State), Abubakar (Niger), Mohammed Bindow (Adamawa), Simon Lalong (Plateau), Atiku Bagudu (Kebbi), Kayode Fayemi (Ekiti), Akinwumi Ambode (Lagos), Yahaya Bello (Kogi), and Samuel Otorm (Benue).

THURSDAY OCTOBER 18, 2018 ˾ T H I S D AY

NEWSEXTRA

Nigeria Improves to 115th Position on Global Competitiveness Index Ranks 156th on life expectancy Chinedu Eze Nigeria was ranked 115th in the 2018 Global Competitiveness Report of the World Economic Forum (WEF), which was released yesterday. A new scientific study has also ranked Nigeria 156th among 195 countries, according to a report published yesterday in the international medical journal, The Lancet. The country’s latest position on global competitiveness index was a significant improvement, compared with the 125th position it was placed in 2017. Nigeria was ranked 127th on the 2016 index. In the report that surveyed 140 countries, Nigeria scored 47.6 out of a total score of 100. The new Global Competitiveness Index 4.0, which measures national competitiveness, defined it as the set of institutions, policies and factors that determine the level of productively of a country. The report looked at 98 indicators across 140 countries to determine the overall ranking and

to signify how close an economy is to the ideal state or “frontier” of competitiveness. The 12 pillars that were analysed were health, skills, financial system, infrastructure, institutions, ICT adoption, macroeconomic stability, product market, labour market, market size, business dynamism and innovation capacity. Nigeria scored 42 in the institution indicator, 42 in infrastructure, 26 in ICT adoption, 56 in macroeconomic stability, 51 in health and 40 in skills. It was also scored 52, 59, 44, 71, 55 and 31 in product market, labour market, financial system, market size , business dynamism and innovation capacity, respectively. Generally, it noted that the economic prospects of Africa was at crossing point as the average GDP growth of the region has fallen below five per cent since 2015 and was expected to grow at 3.4 per cent in 2018. “After having benefitted from a period of fast growth driven by strong foreign demand and high commodity prices, economies

I Didn’t Leave N170bn Debt in Ekiti, Fayose Tells Fayemi Gov declares free education Victor Ogunje in Ado Ekiti The immediate past Governor of Ekiti State, Mr. Ayodele Fayose has insisted that his administration did not commit the state to any financial institution in form of bonds and commercial loans, describing claim by Governor Kayode Fayemi that the State was indebted to the tune of N170 billion as false and “a way of preparing grounds for his impending failure just as he did when he assumed office in 2010.” This is coming as Fayemi, yesterday, abolished the education tax introduced by Fayose in all primary and secondary schools in the state. Fayose’s Media Aide, Lere Olayinka, said in a statement issued yesterday that Ekiti State indebtedness was under N60 billion and that the debt was either directly incurred during Fayemi’s first tenure or as a result of the loans restructuring done at the instance of the federal government and the Federal Economic Council. He gave the breakdown as follows; Commercial Bank Loan, N2,087,788,065.28; CBN Grant for Water Project, N163,450,000; Excess Crude Account Backed Loan, N9,545,173,472.78; Bailout, N9,083,761,215.40; FGN Bonds, N18,226,699,707.18; State Bonds, N3,484,469,345.51 and Budget Support, N16,869,000,000. While challenging Fayemi to name the banks being owed the N170 billion and monthly repayment by the State Government to such banks, Olayinka said; “He should not wait till 100 days to cook up false stories of how much debt was left by the Fayose administration. He should rather tell Nigerians how it is possible for a state that is indebted to the tune of N170 billion to be making N1.1 billion repayment monthly. “Instead of lying so blatantly

to cover up his impending failure, Fayemi should publish the Debt Management Office (DMO), Ekiti State Executive Council and House of Assembly approvals for the loans since no loan can be taken without these approvals.” Describing Fayemi as a “multiple-mouthed” person, Olayinka said; “In September this year, Fayemi claimed that Ekiti debt was N117 billion, one month after, he said the debt is N170 billion. So the debt increased from N117 billion to N170 billion in less than 30 days? “The reality is that Fayemi is reputed for speaking from both sides of his mouth. In the past, when Fayose assisted him to be governor, he described him (Fayose) as an honourable person whose word is always his bond and today, he goes about denigrating the same Fayose.” Fayose’s spokesperson, who admonished Fayemi to face the task of governance and stop his usual grandstanding, said; “The federal government deliberately refused to release legitimate funds belonging to Ekiti State to the Fayose administration and for this reason, the arrears of salary could not be cleared as promised. “We are aware that in a matter days, the withheld fund of over N30 billion is to be released to the state by the federal government as refund on federal roads construction, arrears of Budget Support and Paris Club refund. “Our plea is that Governor Fayemi should stop making excuses and use the over N30 billion to pay workers salary. Maewnhile, Fayemi, yesterday, abolished the education tax introduced by former Governor Ayodele Fayose in all primary and secondary schools in the state.

in the region need to strengthen their fundamentals to become more resilient to commodity

price shocks and to compete successfully in the technologydriven global economy.

In a related development, a new scientific study has ranked Nigeria 156th among

195 countries, according to a report published yesterday in the international medical journal.

WELL DESERVED HONOUR...

L-R: Chairman, ABD Energy Solutions Limited , Mr Ken Amadi, Head Brand and Communication, Leadway Pension, Temitope Esho; and United Kingdom-based Finance expert, Christian Udechukwu, after receiving the World Standard Award for Quality Lubricants, Additives and Base Oils to mark the World Standard Day in Abuja ...recently

India Minister Tasks FG on Tenets of Democracy Oluchi Chibuzor The India Minister of State for External Affairs, Mr. Mobashar Akbar, has called on the federal government to continue promoting the tenets of true democracy where the will of the people would always count and not the whims and caprices of the elite. Akbar disclosed this recently in Lagos while delivering a lecture on ‘India and Nigeria: Partners for Progress in Africa and Beyond, Yesterday’. He also noted that there is need to allow intellectual

bridges across different areas of language, political, and religion for economic equality of citizens. The minister said Nigeria and India bilateral relations have the potential of becoming a template of modern society for Africa and beyond by promoting intellectual bridges across political, language and religion divide and gender emancipation. He explained that the relationship between both countries dated back to 1958, and that the lecture gave him the right platform to draw the attention of the missing link between both countries in the

areas of intellectual bridges. Akbar, who further noted that irrespective of previous measures put in place since the establishment of the bilateral agreement to encourage sharing of economic growth to the poorest of people in the 21st century, the World Bank policy does not allow economic equality or progress to “transfer economic growth to those who need it mostly as well as the dignity of the poor.” According to him, “Democracy is the first feature of modernity which is the right to speak out every day on the equality of every citizen across different

language; state, economic and unity diversity. “The principal challenge to age of prosperity is violence which is a metaphor of many things. Terrorism has a clear objective to destroy the country and create political state where the will of the people does not count.” On his part, the DirectorGeneral of Nigeria Institute of International Affair (NIIA), Ahmed Abubakar, said the dynamics of Nigeria-India relation has taken a new dimension at all levels especially in the areas of academic, military, economic and social.

Executive Order 6 Needed to Combat Corruption, Says British Envoy The British High Commissioner to Nigeria, Paul Arkwright, has endorsed the Executive Order 6 signed by President Muhammadu Buhari, noting that it is important to root out corruption in the country. The envoy in an interview

with Channels TV noted that the order would assist in the corruption fight. He said: “I’ve heard that this is an anti-corruption measure, but it’s not for me to say who should or should not be on the list. But what I would say is that it’s

very important to continue the fight against corruption.” Arkwright, however, refrained from commenting on the travel ban on 50 Nigerians by the federal government. He stressed the need for peaceful and credible

elections in 2019, adding that free, fair and credible election was important for political stability in the country. The high commissioner said meeting with political candidates was necessary to discuss expectations for the 2019 polls.

Umana Denies Defecting from APC, Says He’s with Buhari Martins iﬁjeh Following the rumoured defection of the Managing Director, Oil and Gas Free Zones Authority (OGFZA), Mr Umana Okon Umana, from the ruling All Progressive Congress (APC) to the Peoples Democratic Party (PDP), his media team has said the story was untrue. In a statement made available to THISDAY yesterday, and signed by the Special Adviser on

Media to the oil magnate, Iboro Otongaran, he said the false social media publication written by one Nsibiet John, was misleading and should be discarded by well meaning Nigerians. Otongaran said: “We want to inform members of the public that the write-up in question is completely false and baseless as Umana is with Buhari. The author of the publication, John, is known for publishing false stories to malign leaders in Akwa

Ibom State and impugn the integrity of other distinguished members of the society. “John is currently facing a serious criminal charge in a court in Uyo for false publication against the Deputy Governor of the State, Chief Moses Ekpo.” He said sometime last year, the author was detained by the police for false publication. “Contrary to the false publication under reference, Umana is working assiduously with other leaders and

members of his great Party, the APC, to ensure the victory of the party at all levels ib Akwa Ibom State and in the nation at large in the upcoming elections. This fact is clearly evident in the media coverage of Umana’s participation in party activities both in the state and at the national level,” the special adviser said. He called on members of the public to disregard the publication, adding that it is handiwork of an imposter masquerading as a journalist.

THURSDAY OCTOBER 18, 2018 ˾ T H I S D AY

NEWSEXTRA

Ibori Loses Appeal, Drags UK to EU Court of Human Rights Deborah Orji Former Governor of Delta State, Chief James Onanefe Ibori, has instructed his lawyers to drag the United Kingdom to the Court of Appeal at the European Court of Human Rights. This is coming as the former governor yesterday lost an appeal against his conviction in London. In a statement signed by his Media Assistant, Tony Eluemunor, Ibori said: “At 11: am today, judgment of the Court of Appeal, Criminal Division, was handed down. Once again the British Courts have unjustifiably denied me justice. The injustice contrived against me continued at the Court of Appeal. By this denial, I have been prevented from challenging my conviction even though the Crown Prosecution accepts the fact that there was a proven case of Police corruption. “The Court of Appeal declined my application for leave to appeal my conviction based on Crown Prosecution (CPS) and Police disclosure failures compounded by police corruption unearthed way before I even arrived in the UK. The allegation of Police corruption, at least of Mr. John Macdonald, the Investigating Police Officer in my case, started on or about September 10, 2007, while I was still in Nigeria. This issue of police corruption was raised by a different agency of the UK government working on an entirely different case at the time “This material fact should have been disclosed to my legal team on my arrival in the UK but it was not disclosed because the Crown Prosecution Service and the London Metropolitan Police knew the devastating and fatal impact that would have had on the case against me. The UK authorities chose deliberately to cover it up even though my legal team asked

that all-important question in open court. “This continued cover-up, which is inimical to justice delivery, has been displayed again today by the Court of Appeal when it denied me the opportunity to appeal my conviction at the Appeal Court and possibly the Supreme Court of England and Wales. This is international conspiracy carried too far to the detriment of the integrity of the British Judicial System. ”Numerous people have asked me to discontinue the appeal adding: ‘But what do they care. It’s a matter that has to do with a bunch of “corrupt” Nigerians. They can throw judicial decency to the dogs’. “I say to the members of the public who have shown personal concern for my predicament that I will strive with every breath of energy in me to pursue the cause of justice not only for my sake but because it is the right thing to do to make the world a better place and to defend the rights of the down-trodden. “So, I have put my legal team on notice to explore every legal avenue to expose this massive cover-up, including applying to the European Court of Human Rights to ensure that this assault on my fundamental rights does not stand. “The Court of Appeal did not permit my legal team to even refer to this evidence let alone advance it as part of our case. Even now, I am not permitted to disclose the nature of this evidence for fear of committing an offence. In these circumstances, my legal team argued that there were only two options available. One; the prosecution should concede the appeal, or the Court should halt proceedings as an abuse of process because a fair hearing was no longer possible. “Disappointingly, both the prosecution and the court took the view that saving face was

PDP Suffers Another Defection in Akwa Ibom Deborah Orji In a major realignment of forces in Mkpat Enin, one of the largest local government areas in Akwa Ibom State, the member representing the area in the House of Assembly, Otobong Ndem, on Tuesday, defected from the Peoples’ Democratic Party (PDP) to the All Progressives’ Congress (APC) with hundreds of his supporters. Ndem announced his defection when he led a delegation of his supporters in several buses on a solidarity visit to the Akwa Ibom State APC Gubernatorial Candidate, Mr. Nsima Ekere, at the latter’s country home in Ikot Oboroenyin, Edemaya, Ikot Abasi Local Government Area of the state. Among the defectors on the delegation were the Mkpat Enin PDP Local Government Chapter Deputy Chairman, Mr. Ukonsek Ukonsek, the Secretary, Comrade Ubong Kingsley, the Youth Leader, Mr. Ime Inoh, and some other members of the Chapter Executive Committee, a former Chapter Chairman, Chief Friday Ayara, and a former Chapter Secretary, Comrade Umoren Umoren. Others were the former member of the State House of Assembly,

Mr. Ini Brown Ekanem, a former Chairman of Mkpat Enin Local Government, Dr. Imowo Udobia, a former Vice Chairman of the local government, Mr. Godwin Udofot, and a former Leader of the Local Government Legislative Council, Mr. Friday Okobo. Ndem said, with their defection, the PDP structure in Mkpat Enin, the local government area with the highest number of wards, numbering 14 in the state, had collapsed totally into the APC. He assured Ekere of huge votes from the area, saying, “With the votes of Mkpat Enin, you will be strolling into Hilltop Mansion. We believe in you because you are one of our own. We have no reason not to support you. We are here because we see the future of Akwa Ibom State. We want to end tortoise politics in Akwa Ibom State. We are not prepared to support you from behind. We are not ready to play submarine politics. We are ready to support you openly.” Also speaking, Ukonsek described their delegation as the “crack team” of Mkpat Enin politics, promising that “we will show the world that we own Mkpat Enin” when they hold a formal defection ceremony at home soon.

more important than dispensing justice. Yet, I am fully resolved to challenge the ruling of the Court of Appeal at the European Court of Human Rights. Let the days be gone when British legal luminaries come to give

seminars in Africa boasting about having the best legal system in the world. “I thank my legal team for a great job. They have fought gallantly to save the British justice delivery from those

undermining it. I have no doubt in my mind that justice will come my way eventually and no matter how long it takes”. Meanwhile, Ibori has lost an appeal against his conviction in London.

Ibori was jailed in Britain for laundering tens of millions of dollars in stolen public funds through British banks and properties. He was governor from 1999 to 2007.

PROMOTING LOCAL CONTENT...

L-R: Chairman, Strides Group, Mr. Moritz Abazie; Manager, Contract and Procurement Production, Shell Nigeria, Chioma Okpochi; Managing Director and Chief Executive Officer, Steve Integrated, Steve Ayiyi; representative of General Manager, S and E, Shell Nigeria, Obiorah Chidozie, after a panel session during Shell Nigeria Content Day Exhibition yesterday in Lagos

Five Ebonyi Indigenes Killed in Agila-Ngbo Boundary Dispute Benjamin Nworie in Abakaliki Five persons from Ebonyi State have been reportedly killed in a renewed boundary dispute between the agila people of Benue State and Ngbo in Ohaukwu Local Government Area of Ebonyi State. Responding to the carnage, Governor Umahi of Ebonyi State has expressed shock over the killing of the five Ngbo indigenes of Ohaukwu LGA

by their Agila neighbours of Benue State. The governor who was represented by the Deputy Governor, Dr. Kelechi Igwe, made his feelings known when he visited families of the affected persons at Ekwashi and Ukwagba communities. The governor expressed dismay over what he called flagrant disregard to agreement by the Agila people. He observed that Ebonyi

people had suffered incessant attacks from their neighbors in the recent times and appealed to the federal government to intervene before the people would resort to self defence. He appealed to the people to remain calm and law-abiding, assuring that government would ensure permanent resolution of the crisis. The Chairman of Ohaukwu LGA, Mr. Clement Odaah, told the governor that Benue people

invaded the people of Ngbo despite the peace agreement signed with Ado LGA few weeks ago. He decried the incessant attacks and called on Benue State government to call Agila people to order. The governor was accompanied by security chiefs, including the state Commissioner of Police, Musa Kimo and representative of the Nigerian Army Cantonment Commander, Major S Milla.

C’River South Stakeholders Disagree over Support for Ayade, Enoh, Ekpo Ugo Aliogo A meeting of Cross River State Southern senatorial zone stakeholders deadlocked and almost ended up in blows as attendees openly disagreed over who to support in the upcoming 2019 general elections in a battle royale that has pitched incumbent governor, Prof. Ben Ayade of the Peoples Democratic Party (PDP) against Senator John Owan-Enoh of the All Progressives Congress (APC) and Eyo Ekpo of the Social Democratic Party (SDP). A source familiar with deliberations at the venue of the meeting which held in Senator Florence Ita-Giwa’s residence during the week in Calabar told THISDAY that the former presidential liaison officer to President Olusegun Obasanjo on National Assembly matters had called a meeting of select stakeholders, including Asuquo Ekpenyong, Asuquo Cowan, Orok Ironbar, Chief Boco, Bassey Mkposung, George Bassey, Eback Tony Boco and Mr. Eyoma all from the south to rally support for Ayade who is from the northern senatorial zone.

The source explained that Ita-Giwa opened deliberations by saying that they were witnesses to the circumstances that forced her out of the PDP, a party that they helped to build in the state; adding that it got so bad that her disagreement over the sharing of relief materials meant for Bakassi displaced people angered the governor to forcefully retrieve her official vehicle, a Prado jeep. She reportedly told them that, over time, she realised that the APC to which she decamped to was a complete waste of time and comprised of a bunch of irresponsible people; pointing out that the south should rally support for Ayade against the vaunting ambition of Senator Owan Enoh from the central senatorial zone who she accused of propagating an Ejagham agenda from emerging governor in 2019. Ita-Giwa was reported to have opined that the south was previously united by former Governor Donald Duke whom she said abandoned them in the middle of nowhere and leaving the zone to be drifting. She also added that Ayade had personally

driven her round to showcase his projects which is why she was changing her mind to solicit their support towards reasoning that it would be beneficial to back Ayade to complete his last four years rather than backing Owan Enoh who will insist on being on the saddle for two terms at the expense of the south. Ekpenyong who spoke next blamed some southern leaders for not being far-sighted enough to support his FIVE ALIVE initiative to support Ayade for a second term. He added that even in the APC where two southern sons had contested, Prof. Eyo Etim Nyong and Edem Duke, there was no unity of purpose strong enough to wrest the ticket from Owan Enoh. When reminded that Eyo Ekpo, another southern son was in the race on the platform of the SDP, he reportedly dismissed his efforts, saying he stood no chance, asking how Donald Duke could declare to run for president on the same platform without carrying them along. He was quoted to have blamed Asuquo Cowan for

scuttling attempts by some stakeholders to mediate between Edem Duke and Nyong so that one would step down to support the other in the just concluded APC primaries where Owan Enoh emerged. It was at this point, THISDAY gathered that the calm and convivial atmosphere that pervaded the venue became electrified with Cowan calling Ekpenyong unprintable names including that he was a stranger element of Ibibio stock sojourning in the state and should not tell southerners what to do. At this point, the two men stood up lunging at each other, throwing punches and had to be placated by other attendees who sued for calm. It was gathered that as the meeting managed to continue with Ita-Giwa promising to provide a bus to convey them to tour Ayade’s projects, some of the attendees asked her what Ayade had achieved in the last three years with potholes dotting Calabar metropolis, a backlog of unpaid salaries and pension arrears and no tangible project to showcase.

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

Ighalo: I Almost Quit Eagles after DeathThreat to My Family Duro Ikhazuagbe Rave of the moment, Odion Jude Ighalo, 29, admitted yesterday that he almost quit the Super Eagles after his family was threatened with death following his not too impressive performance at the last World Cup in Russia. The Changchun Yatai forward in the Chinese Super League who banged in a hat trick against Libya in Uyo last Saturday and followed up with a brace on Tuesday night in a reverse fixture in Sfax, Tunisia is today the toast of Nigerian football fans. “I felt very bad (when they threatened my family). I had to talk to my wife because she could not take it. “Some words they said about my kids, about me. Some words they said to her, threatening and all that. That is beyond football,” revealed the former Watford frontman to KweseESPN yesterday. He stressed that his wife never wanted him to return to Eagles after he missed some clear chances against Argentina in a crucial game in St Petersburg Stadium (Russia) that would have earned Nigeria passage into the second round of the World Cup, if only Ighalo had converted those chances. But some disgruntled Nigerian football freaks who could not stomach Ighalo’s misses against the Albeceleste took to the social

Super Eagles celebrating the 3-2 defeat of Libya in Sfax, Tunisia on Tuesday night

media to pour invectives on him and his family. Some of them even went overboard, threatening his wife and kids. “My wife said ‘you don’t have to go there (to Nigeria) any more’ and it was because of all what they said to her and to our family,” the Eagles forward recalled.

However, all that is now in the past. Ighalo has redeemed himself with the five-goal feast against the Mediterranean Knights. “I know the fans want me to score goals. I understand them. But some of them took it to another level.” Super Eagles who had only three points from the victory

over Seychelles bagged six maximum points in the twolegged fixtures against Libya within a space of five days. That feat leapfrogged Nigeria from third to first in Group E of the AFCON 2019 standing on nine points. South Africa is second on eight points while Libya is third on four points.

Seychelles has just a point to show from the draw against Bafana Bafana on Tuesday. Technical Adviser of the Super Eagles in his post-match review of the Battle of Sfax said yesterday that Nigeria needs just one point from the remaining two matches for a safe passage to the AFCON

2019 to be hosted by defending champions Cameroon. “A point from these games will be enough to qualify us. We are not at the AFCON yet, but our chances are very good,” stressed Rohr who also admitted his young team panicked Tuesday night after Libya pulled a goal back in Sfax, Tunisia.

Oshoala, Oparanozie, Nnadozie, 45 Others Invited to Camp for Ghana 2018 Head Coach, Thomas Dennerby, has invited a total of 29 home-based and 19 overseasbased professionals for the first phase of camping of the Super Falcons ahead of next month’s 11th Women Africa Cup of Nations taking place in Ghana. On the list of players who are expected to resume camp at the Jubilee Chalets, Epe, Lagos State today are reigning African Woman Player of the Year Asisat Oshoala, ace forward Desire Oparanozie, goalkeeper Chiamaka Nnadozie and defender

Glory Ogbonna. There are also goalkeepers Alaba Jonathan and Tochukwu Oluehi, defenders Joy Jegede and Onome Ebi, midfielders Halimat Ayinde and Osarenoma Igbinovia and forwards Francisca Ordega and Anam Imo. Cup holders and winners of eight out of the 10 editions of the championship staged so far, the Super Falcons qualified to defend their title in Ghana after spanking their Gambian counterparts home and away in their only qualification fixture.

All the players have been asked to report at the Jubilee Chalets, Chalet Road, off Obafemi Awolowo Road, Epe Town today. The Falcons defeated hosts Cameroon 1-0 in the final of the last edition of the Women Africa Cup of Nations in December 2016. The 11th Women Africa Cup of Nations will be staged in the Ghanaian cities of Accra and Cape Coast cities, 17th November – 1st December 2018. The Draw for the eight –nation champion-

ship has been scheduled for Sunday, 21st October. ALL THE INVITED PLAYERS Goalkeepers: Tochukwu Oluehi (Rivers Angels); Christy Ohiaeriaku (Confluence Queens); Alaba Jonathan (Bayelsa Queens); Chiamaka Nnadozie (Rivers Angels); Onyinyechukwu Okeke (Edo Queens) Defenders: Glory Ogbonna (Ibom Angels); Joy Jegede (Bayelsa Queens); Ugochi Emenayo (Nasarawa Amazons); Maureen Okpala (Confluence Queens); Mariam Ibrahim (Nasarawa

Amazons); Sarah Nnodim (Nasarawa Amazons); Ngozi Ebere (Barcelona FC, Cyprus); Joy Duru (Nasarawa Amazons); Faith Michael (Pitea IF, Sweden); Onome Ebi (Henan Huisanhang, China); Juliet Lorliam (Nasarawa Amazons); Osinachi Ohale (Vaxjo DFF, Sweden); Josephine Chukwunonye (Asarum AIF, Sweden) Midfielders: Osarenoma Igbinovia (Bayelsa Queens); Christy Ucheibe (Nasarawa Amazons); Amarachi Okoronkwo (Nasarawa Amazons);

Ogechi Ukwuoma (Pelican Stars); Peace Efih (Edo Queens); Bashirat Amoo (Confluence Queens); Goodness Onyebuchi (Sunshine Queens); Nneka Julius (Edo Queens); Patience Agbokade (Sunshine Queens); Mary Anjor (Osun Babes); Ngozi Okobi (Eskiltuna UTD, Sweden); Rita Chikwelu (Krstianstand DFF, Sweden); Christy Adule (Biik Kazygurt, Kazakhstan); Halimat Ayinde (Asarum AIF, Sweden); Ogonna Chukwudi (Krstianstand DFF, Sweden)

Okpekpe Race Theme Elegushi’s Palace Wears Boxing: Alvarez Signs Song Composer Drops New Looks for NOC ‘Most Lucrative’ Sports Blockbuster Hit Single Patrons’ Investiture Deal with DAZN Sefiya Ibrahim, the IAAF silver label Okpekpe Road Race theme song composer is out with a blockburster hit single titled, Your Money. The budding, Abia Stateborn afro-pop songstress and Computer Science graduate from the University of Lagos teamed up with the King of new school dancehall, Sugarbana, in the exhilarating song produced by Richie. In the much anticipated song, Sefiya, a certified graduate of the prestigious Nigerian MUSON School of Music where she majored in music dynamics and vocal training sang about an unidentified lover whom she adores wholeheartedly but only due to his heavy pockets and the luxurious items he possesses. She sings “I’m in love with your body, no be my fault, na your money.” Her collaborator Sugarbana brings his usual highly-spirited

delivery to the song, singing every bar in Patois which effortlessly compliments Sefiya’s vocals and the instrumental considerably. Directed by The Alien and WG Films of Capital Dreams, the visuals to ‘Your Money’; also released along with the audio, vividly captures the chemistry between Sefiya and Sugarbana, which is quite commendable; making ‘Your Money’ a definite TV and radio smash hit. ‘Your Money’ marks Sefiya’s second musical effort of the year, following the release of her EP ‘Antidote’, which was released earlier in January. She followed that up with the Okpekpe Road Race theme song in May which received commendations from many sports and music lovers including Godwin Obaseki, the executive Governor of Edo State during the pre-race dinner in Auchi.

All is now set for the investiture of new patrons of the Nigeria Olympic Committee. The event has been fixed for Tuesday, 23rd October, 2018 at the Elegushi’s Palace in Ikate, off Lekki-Epe Expressway from 12 noon. The Elegushi’s Palace is wearing a new look and palace sources informed that security is top notch. Those to be honoured include the national leader of the ruling All Progressives Congress (APC) and one-time Governor of Lagos State Asiwaju Bola Ahmed Tinubu, His Royal Majesty, Oba S. A. Elegushi, former Governor of Delta State Dr Emmanuel Uduaghan, Chief Kofoworola Adejoke Nwokedi and Sir Marc Wabara. A statement by the NOC indicate that after the investiture ceremony for Patrons from the South on Tuesday, there will be another ceremony for those in the northern part of the country on November 1 in Abuja.

The Patrons on the honours list from the north include His Excellency M. A. Abubakar, Gbong Gwom Jos, Dr Jacob Buba Gyang, Dr Zainab Bagudu, Alhaji Bashari Mohammed Gumel, Alhaji Ibrahim Galadima and a former NOC President, MajorGeneral Adamu Dyeri (rtd). The statement added that the Patrons were being honoured for their contributions to the development of sports in the country and the Olympic movement, in particular. Being a Patron of the Olympic Movement positions honourees as iconic international sports personalities, carrying the emblem of Nigeria globally. “It is therefore our honour to invest the honourees with the Patronship of the Olympic Movement which is in recognition of their meritorious contributions to humanity, sport and societal development,” the statement concluded.

Saul ‘Canelo’ Alvarez has said that he has signed a “historic” contract after agreeing a £278m ($365m) deal with streaming service DAZN. The Mexican, who holds the WBA and WBC world middleweight titles, has signed a five-year, 11-fight deal that could be the most lucrative in sports history. The 28-year-old said he was “humbled” to be selected for the contract. Alvarez’s first bout of the deal sees him step up to supermiddleweight to face Rocky Fielding on 15 December. “Being part of this historic deal will require me to prepare myself even more and offer fans even better performances,” he added. “At the same time, I am humbled to be selected to lead this new vision for the sport of boxing, which will without a doubt be for the benefit of the

fans.” Alvarez and Britain’s Fielding will hold a news conference in New York on Wednesday to promote their fight at Madison Square Garden. Alvarez’s new contract is being described as the biggest in sports history by ESPN. While it would eclipse the 13-year, $325m (then £208m) contract baseball’s Giancarlo Stanton signed in 2014, when broken down on an annual basis he will earn less than the likes of Barcelona footballer Lionel Messi, who has an annual salary of $84m (£64m) according to Forbes. However, it will earn him more than £1m a week over the five years and Alvarez - beaten only by Floyd Mayweather in a 53-fight career - can increase his earnings if DAZN achieve pre-determined subscription targets.

Thursday October 18, 2018

UT H

& RE A SO

Price: N250

MISSILE

Aisha Alhassan to APC Leadership

“If I had left the party on my own, I would not have bothered about the items, but you know the circumstances that pushed me out. I bought the items to furnish the party secretariat, but since I have moved to the UDP, I did not see anything wrong with moving with all my belongings. They should buy their own furniture” – Former Minister of Women Aﬀairs, after removing the items she donated to the APC secretariat in Taraba State

OLUSEGUNADENIYI THE VERDICT

olusegun.adeniyi@thisdaylive.com

Atiku, Obasanjo and the Road Ahead

here are several lessons to learn from the political feud between former President Olusegun Obasanjo and his erstwhile deputy, former Vice President Atiku Abubakar that lasted almost one and a half decades and on which so many people built their own political careers. One, it is the height of folly for anybody, most especially journalists, to inherit the enemies of politicians because they can always meet again and reconcile. Two, it is dangerous to speak in absolute terms or put down in print damaging things about another person in moments of anger or political disagreements. Three, and perhaps most important, Nigerians cannot afford to base their judgement on the basis of what politicians say about one another because when the music changes, those character assessments too will change because they are fickle and not always based on facts or principles. In the course of a July 2005 call-in radio programme, ‘The President Speaks’ (which was usually from his Ota farmhouse), Obasanjo admitted publicly for the first time that he had issues with his deputy, Vice President Atiku Abubakar. Responding to a question on Atiku’s claim that he (Obasanjo) swore that he would leave office in 2007, the then president said: “The idea of swearing, I think the vice president got it wrong there. For what reason would I swear? Even when I discovered that there were proven cases of disloyalty on his part, I think because I wanted to resolve it between me and him, I brought a Bible and a Quran. And I said, between us, let us swear because we should not have a divided house. He refused to. Why? Because he obviously knew that the cases are proven and they were bad enough.” A few weeks after that interview session, the United States Federal Bureau of Investigation (FBI) agents raided the homes of Congressman William Jefferson and Atiku’s Maryland (American) residence where his wife, Jennifer was living at the time. The subsequent investigation and damning report by the U.S. Congress would provide ammunition for the Obasanjo camp to deal with Atiku on the issue of ‘corruption’. Yet, objective followers of political developments in Nigeria at the period were well aware that the ‘Original Sin’ of the then vice president was more of disloyalty than corruption. As an aside, Nigerian politicians have mastered the art of covering up for those with whom they are in the same camp (even if such characters spend all their time in office perfecting how to make bales of dollars ‘disappear’ inside ‘babariga’) while reserving the tag of corruption only for opponents, including those with whom they may have done so many things together in the past. Whatever may be the allegations swirling around Atiku concerning his integrity, in his fight with Obasanjo, corruption was just a convenient weapon with which to deal him a fatal blow. Meanwhile, Atiku

Atiku

would also want the world to believe his grouse with Obasanjo had to do with Third Term. That is false. The real problem was that Atiku did not even want his former boss to secure a second term and almost upstaged him in the process. I have had the benefit of several interactions with both Atiku and Obasanjo and I recall once telling the former in 2006 (Simon Kolawole was a witness) that what he did to Obasanjo in 2003 was nothing but treachery. Of course, Atiku vehemently disagreed with my characterisation with a long tale about how the relationship between him and his boss soured but that was, and still is, my reading of what transpired at the period. However, following his recent victory at the PDP presidential primaries in Port Harcourt, Atiku last week went on pilgrimage to Abeokuta where he and Obasanjo were reconciled at an elaborate ceremony involving some respected Christian and Islamic clerics. Quite naturally, there has been a backlash to that effort while the social media is now replete with some of the scathing things Obasanjo had said about Atiku in the past. As Buhari supporters feed on these damaging posts, I have also seen many responses from the Atiku camp where these same allegations were defended by Mallam Garba Shehu, who was for more than a decade Atiku’s media man before he became a spokesman for the president in 2015. That is aside their own counter-response on what President Donald Trump reportedly said about our president. That some of these messages are playing out in the social media is not a surprise. At election season all over the world, it is very common for those who seek the presidency to be exposed to public scrutiny while character issues like integrity, compassion and stability also come into play. But beyond the virtues and weaknesses of candidates, their capacity to tackle pressing issues that impinge on the lives and livelihoods of citizens is also important. My main concern is that at a period when our nation seems to be at crossroads on several fronts, the campaign

about our future has been reduced to ‘he said, they said’ while some young people delude themselves with some meaningless ‘RT for Atiku, Like for Buhari’. It is good that almost (if not all) our presidential contenders are on social media because there is a way in which this enhances democratic conversation and offer citizens opportunity to connect with them. This kind of engagement also creates a sense of public responsiveness and accountability. But if we must engage those with whom we want to entrust our future, it must be on the basis of what they have to offer us as citizens rather than on some opinions made by other people either out of malice or ignorance. Yes, the stakes are high for the two leading candidates but there is no excuse for the vile smear campaign that we now see on a daily basis. What we expect in a season like this are practical solutions to the country’s problems. Against the background of high unemployment rate, growing gap between the rich and poor, aging public infrastructure, poor output in education and health etc., it is evident that what we have in our hands today is a situation of national emergency across all sectors. As if it is not bad enough that Nigeria was rated the country with the highest concentration of poor people in the world, the latest “Commitment to Reducing Inequality (CRI)” index released two weeks ago at the annual International Monetary Fund and World Bank (IMF/ WB) meeting in Bali, Indonesia, revealed that one in 10 Nigerian children does not reach their fifth birthday, and more than 10 million children do not go to school. These of course are problems that have accumulated over years, may be even decades, so it would be unfair to blame the current administration but the question remains as to whether they are applying the right solutions. With the cold-blooded execution of another International Committee Red Cross (ICRC) abducted midwife, Hauwa Leman and the reported enslavement of Leah Sharibu and others, the Nigerian authorities must now accept that the Boko Haram insurgents once declared ‘technically defeated’ are still very much in business aside other security challenges we grapple with. This no doubt is a critical issue on which we need to task those who want to continue in office as well as those who seek to displace them. Amid all these problems, we cannot discount the serious warnings about our exploding population that is not backed by any productive capacity. This is also an issue that should engage the attention of those who seek to lead Nigeria into the future. A few years ago, Mr. Dimos Sakellaridis, the then Country Director for DKT International, one of the largest private providers of family planning products, said a major concern about the rapidly growing population in Nigeria is the fact that jobs, national infrastructures, social services, housing, health care facilities are not also

growing at the rate at which the population was exploding. And he admonished that those advancing religious arguments for our largely unproductive population should grow wise. “If you compare Nigeria with developed countries like Italy, a Catholic dominated country or even the Islamic Republic of Iran, which is a Muslim country, you will understand that these countries have maintained same population for several years and this has caused them to organise their lives better and provide for their people. China has taken care of their own population problems by policies that work for them,” said Sakellaridis. Unfortunately, what we are witnessing in the name of campaigns are name-calling and rehash of what some people had said in the past or are saying today about certain candidates. While supporters of President Buhari are preoccupied spreading what Obasanjo wrote about Atiku in his books or past letters, supporters of Atiku are also making a feast of an unconfirmed characterisation of Buhari by Trump. Meanwhile, the campaign that Nigerians yearn for is how those who seek to lead will reposition the economy and tackle the myriad of challenges confronting the nation. Granted that there are many political parties as well as several credible individuals in the presidential race, and I promise to examine some of them and what they represent in the weeks ahead, it is still safe to conclude that the 2019 election will most likely be a straight contest between Buhari and Atiku, for obvious reasons. That is why I endorse one message being circulated widely on WhatsApp credited to a Tunde Alabi-Hundein Dudu. I don’t know who the writer is but the sentiment expressed in the message is one want to leave with readers. Titled, ‘Special message to both Atiku and Buhari Camps’ the man wrote: “Nigerians are not interested in your tales of who’s corrupt and who is lifeless. The people are hurting. The nation needs a clear direction of how the next four years are going to be. What’s going to happen to the youth, the unemployed, the business owners, our roads, electricity, security of lives and property, education, food on our tables, water, etc. We don’t want to know who can enter America, Aso Rock is not located in Washington; we don’t want to talk about herdsmen, no president will encourage carnage and the killing of his people. We want concrete proposals on what to do about our economy, non-payment of salaries and the welfare of 180 million Nigerians. All these PR gurus, paid bloggers, party spo kesmen, media consultants for candidates etc. should just shut up and stop mudslinging. This nonsense going on is nauseating. From now on let’s judge them (presidential candidates) on the clarity of their vision and the rationality of what they intend to do with our tomorrow!” A round of applause for Mr Dudu!

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