WEDNESDAY 24TH OCTOBER 2018

Senate Passes Electoral Act Amendment Bill, Urges Presidential Assent Increases ceiling for N’Assembly electioneering expenses Deji Elumoye in Abuja The Senate yesterday passed the Electoral Act (Amendment) Bill for the fourth time in 2018 with

the adoption of all the 38 clauses recommended for approval by its Committee on Independent National Electoral Commission (INEC) headed by Senator Suleiman

Nazif.

It also retained N5 billion as total expenses to be incurred by candidates running for the office of President while that of governorship candidates

was pegged at N1billion.

The upper chamber of the National Assembly, however, made upward review of maximum expenses to be incurred by candidates

running for senatorial seats from N100million to N250million and those running for the House of Representatives seats from N70 million to N100 million

as amendments in clause 25, section 91 of the bill.

Other clauses were adopted by the Senate as recommended Continued on page 10

FG Backs Mini Grid Operators to End Discos’ Monopoly ‌ Page 11 Wednesday 24 October, 2018 Vol 23. No 8589. Price: N250

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Four Diamond Bank Directors Quit Ahead of New Investment Ebere Nwoji Ahead of fresh investment coming into Diamond Bank Plc, four of its directors have resigned paving way for the new investors to nominate their representatives to serve on the bank’s board.

THISDAY has obtained

copies of letters of resignation of the directors, including the bank’s Chairman, Mr. Seyi Bickersteth, who said, “It has been an honour to serve on the board of the bank as chairman, and I will continue to support the bank in every way possible.�

Other directors who resigned

are, Ms. Aisha Oyebode, Mr. Rotimi Oyekanmi and Ms. Juliet Anammah.

Diamond Bank, one of Nigeria’s retail banking champions, had recently faced headwinds with profitability as it faced challenges with its lending to indigenous oil sector, following the collapse

of oil prices.

But with the oil price rebound, things are beginning to look better.

However, the bank, according to analysts, is in dire need of new capital to fuel growth and profitability. It is thought that the new investors are in global financial services and are said

to be ready to wake up the sleeping giant.

According to sources, talks may have reached an advanced stage with the resignation of the four directors.

The Group Managing Director, Mr. Uzoma Dozie, bank sources told THISDAY, is expected to steer the transition

period preparatory to his own resignation sometime next year.

Bickersteth has a B.Sc. in Economics from the University of Ibadan and a M.Sc. in Economics from the York University in Canada. He is a Fellow of the Institute of Continued on page 10

Ambode Pledges Total Support for Buhari, Sanwo-Olu Says he won’t allow PDP to take over Lagos Gboyega Akinsanmi Lagos State Governor, Mr. Akinwunmi Ambode, yesterday declared his total support for President Muhammadu Buhari and the party’s governorship

candidate for the state, Mr. Babajide Sanwo-Olu, saying he would campaign vigorously for both to win the 2019 general elections.

Continued on page 11

Growing Confidence on Safety Boosts Traffic in Nigeria’s Airspace ‌ Page 10

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WEDNESDAY, ͺͼ˜ ͺ͸͹΀ ˾ T H I S D AY

PAGE TEN

Growing Confidence on Safety Boosts Traffic in Nigeria’s Airspace Chinedu Eze With the growing confidence on the safety of Nigeria’s airspace as a result of the improvement in safety standards, the country has recorded huge traffic in its airspace in the last three years, THISDAY has learnt.

THISDAY gathered that Nigeria’s airspace have increasingly recorded more over fliers that go through the country to other destinations.

These include flights from southern parts of Africa to Cairo, Morocco, Tunisia, and Algiers; north to South Africa, and Rwanda; eastern Africa to Accra, Douala, Congo and from West Africa to Kampala, Nairobi, Lusaka and others.

The Managing Director of the Nigerian Airspace Management Agency (NAMA), Captain Fola Akinkuotu, told THISDAY that for many years, international carriers that ought to fly across Nigeria’s airspace had diverted their flights to avoid the country’s airspace due to

safety concerns.

Also, the International Federation of Air Line Pilots’ Association (IFALPA), had also blacklisted Nigeria’s airspace as one of the least safe in the world for over 10 years.

Akinkuotu, however, added that this has changed as NAMA currently generates its major revenues from over flier charges.

THISDAY also gathered that the international pilots association has since acknowledged that the Nigeria’s airspace is safe.

Industry consultant and Chief Executive Officer of Belujane Konsult, Mr. Chris Aligbe, told THISDAY that since IFALPA monitors the safety of airspace in the world, if it finds any airspace unsafe, it would notify its members.

“IFALPA lifted the warning on Nigeria’s airspace when it became satisfied with its safety status,” Aligbe added.

However, Akinkuotu attributed the feat to four elements - on-time weather

Minister of Aviaiton, Hadi Sirika forecast, improvement in communication, effective radar coverage of the airspace and efficient navigation.

Statistics obtained by THISDAY also indicated that since 2015 Nigeria has increased

aircraft movement in the airspace by about 45 per cent.

These include: international carriers that fly into the country, flights that fly across the country and domestic airlines that operate many destinations in the country.

The statistics showed that in 2015 Nigeria recorded a total of 289,017 aircraft movements, 15,836,463 passenger movements, and in 2016, it recorded 222,642 aircraft movement, 15,232,397 passenger movements.

In 2017 had shown, the country recorded 210,693 aircraft movements on domestic flights alone and 40,284 international flights, making it a total of 250,977 flight movements.

Also in 2017, Nigeria recorded 10, 383,452 passenger movement on domestic flights and 4,056,717 international flights, making it a total of 14,440,169..

The NAMA boss noted that most of the over fliers pass through the Kano flight region and that is why the agency

deployed controller-pilot-datalink communication (CPDC), thus making it easy for pilots flying across Nigeria to make use of messages instead of radio.

He said the efficiency of the radar has enabled NAMA to avert accidents in the airspace, disclosing that recently a flight from Abuja to Lagos lost its onboard navigation equipment and was guided by the Air Traffic Control with the radar to land safely in Lagos.

“With the loss of navigation equipment the aircraft was flying blind because the pilot cannot identify his location, but the Controllers used the radar, which monitored the aircraft in the airspace, its location, its altitude to guide the aircraft, instructing the pilot on speed level, when to descend or turn and this continued until the pilot saw the runway and landed. This shows we have very efficient radar, which covers the whole airspace,” Akinkuotu said.

He also added that new flight

routes which were mapped in the last five years have saved domestic airlines aviation fuel, as they spend less time flying from one destination to another.

For example, the Lagos-Abuja flight that used to be one hour is now 50 to 55 minutes for Boeing B737 Classic, which is the major operating aircraft in Nigeria.

Chief Executive Officer of Aero Contractors, Captain Ado Sanusi, also told THISDAY that the shorter time flights take from one airport to another saves the airlines between N800 million to N1 billion annually Also recently the Airport Manager of Virgin Atlantic Airways Limited, Justin Bell, expressed appreciation to NAMA on behalf of the airline for seamless, smooth and timely movement of aircraft across the Nigerian airspace, adding that the flight control team in the United Kingdom also appreciated the agency for its excellence in air navigation service provision.

“Delivering an enhanced customer experience is fundamental to the Diamond Bank proposition,” an official told THISDAY last night, adding, “We aim to support our customers via our tailored services, such as Diamond Woman, so that they can manage their lives seamlessly whether on-the-go or in branch & in other words, we want to go Beyond Banking.”

He added, “Overall, our people remain the key differentiating factor in providing this unique customer experience across all markets where we operate and we are fully committed to consistently attracting only the best people to maintain our competitive edge.”

Diamond Bank has a retail-led strategy, meaning it is well placed to benefit from Nigeria's attractive fundamental macroeconomic trends, particularly in the retail market.

The Bank also has a strong Corporate Banking offering that is helping to fuel growth across Nigeria through supporting businesses, redefining the country's 21st-century economy.

The Bank serves over 150,000 businesses of varying size across diverse sectors including Corporate clients as well as MSME (Micro Small and

Medium-Scale Enterprises), for which it provides value-adding banking solutions.

With a primary listing on the Nigerian Stock Exchange and GDRs on the London Stock Exchange, Diamond Bank's footprints extend beyond Nigeria.

It launched its first nonAfrican subsidiary, Diamond Bank, UK, in 2013. As of January 2016, the bank operated over 271 branches of the group.

Diamond Bank has frequently been the partner of choice for leading international organisations such as the International Finance Corporation (IFC) and the UK's Department for International Development (DfID), in order to deliver programmes targeting MSMEs and to promote financial inclusion.

The Carlyle Group, the global alternative asset manager, became a significant shareholder in November 2014 following its $147m investment in the Bank.

This was a major milestone for Diamond Bank and a sign of confidence in the Bank's strategy and market opportunity.

FOUR DIAMOND BANK DIRECTORS QUIT AHEAD OF NEW INVESTMENT Chartered Accountants of Nigeria (ICAN) and Chartered Institute of Taxation of Nigeria (CITN).

Prior to being the Chairman of KPMG Africa Practice and National Senior Partner of the Nigerian Practice, Bickersteth was the Head of Tax and Regulatory practice and served as Engagement Partner on major tax advisory and compliance projects.

He played an oversight and coordinating role in KPMG’s delivery of professional services to companies in the countries comprising the Gulf of Guinea including Nigeria, Cameroun, Angola, Equatorial Guinea & Gabon. He also heads the Oversight Committee for KPMG Africa.

Oyebode, a legal practitioner and business consultant, was a non-executive director, who holds a Master of Laws degree in Public International Law from Kings College, University of London. She also holds an MBA in Finance from Imperial College, University of London and is a member of the Chartered Institute of Arbitrators.

She is the founder and Group Chief Executive Officer of Asset Management Group Limited, a company established in 1991 that specializes in real estate development and management.

She founded and serves as the Chief Executive Officer of the Murtala Muhammed Foundation and is a director of Cambridge Growth Partners.

Oyekanmi, was an independent non-executive director. He is a Chartered Accountant and a Fellow of the Institute of Chartered Accountants of Nigeria.

He holds a B.Sc. (Hons) in Economics from the University of Ibadan and a M.Sc. from the London School of Economics and Political Science, London.

His career spans over 33 years in the Banking and investment sectors. He joined Arthur Andersen & Co (now KPMG Professional Services) in 1983 from where he moved to the International Institute of Tropical Agriculture as Chief Internal Auditor in 1988. He started his banking career with Prime Merchant Bank Limited in 1991 as a Senior Manager. Between 2001 and 2009, he was Chairman, Venture Capital Association of Nigeria, a Director at African Venture Association and Chairman, African Venture Capital Association.

He was Group Head, Investment Banking at Ecobank Capital Nigeria from 2012 to 2013. He is currently the Chairman of Rendeavour Group and RenMoney MFB

Limited and a Partner in Apis Partners LLP, a private equity asset manager Firm that supports growth stage financial services businesses in Africa and South Asia by providing them catalytic growth equity capital.

Anammah, was also a nonexecutive director, who holds a degree in B. Pharm from the University of Nigeria, Nsukka, and an MBA in Finance from ESUT Business School.

In 2008, she attended the University of Pennsylvania's Wharton College Advanced Management Program. She is a fellow of the Yale University Nigeria Leaders Initiative and also a member of the Institute of Directors of Nigeria.

Anammah has over 25 years of professional experience in Consumer Goods, Sales and Marketing Management Consulting and eCommerce (Retail and Marketplace).

She commenced her career with Sanofi Aventis in 1991 and worked in key sales / marketing capacities till 1999.

In 1999 she joined Accenture's Strategy service line as a senior consultant and worked on various engagements largely related to corporate strategy, business planning, marketing strategy, business architecture design and mergers and acquisition.

Anammah joined the Board of Diamond Bank Plc on July 17th 2017. She is also a member of the Industrial and Competitiveness Council of the Federal Government where she serves as the Chair of Skills and Acquisition sub-team.

Diamond Bank began as a private limited liability company on March 21, 1991, having been incorporated on December 20, 1990. Ten years later, in February 2001, it became a universal bank.

In January 2005, following a highly successful Private Placement share offer, which substantially raised the Bank's equity base, Diamond Bank became a public limited company.

Since the Bank was incorporated in December 1990, it challenged the market environment by introducing new products, innovative technology and setting new benchmarks through international standards.

The bank’s officials believe that given its several innovations, it is best placed to respond to changing lifestyles and is leading the digital transformation in response to these societal shifts. For example, they said, its Diamond Mobile is Africa's leading banking app and the first with touch ID.

SENATE PASSES ELECTORAL ACT AMENDMENT BILL, URGES PRESIDENTIAL ASSENT by its committee on INEC chaired by Senator Suleiman Nazif (PDP Bauchi North).

Nazif had while presenting the bill at plenary explained that clause 25, which stipulates limits of expenses to be incurred by candidates in the general elections also stipulates penalties to be visited on any candidate who spends beyond approved expenses.

The penalties as recommended by the committee and adopted by the Senate are for any of the candidates for the various elections who spends beyond approved expenses, payment of one per cent of the money or imprisonment for a term not exceeding 12 months or

both.

The section added that no Individual or entity shall donate to a candidate more than N10 million or risk penalties stipulated for candidates who spend beyond approved expenses.

Severe penalties for omission of name or logo of a political party by officials of INEC are also stipulated in clause 32, section 140(4) of the bill.

Specifically, the section states, "Where election is postponed due to omission of a political party's name or logo, the commission's officer responsible for such printing of party names or logo commits an offence and is liable on conviction

to imprisonment for two years or a fine of N2m."

Clause 8, section 33 of the passed electoral bill also has provisions for way out in the event of death of candidate of any political party in the course of election as it happened in Kogi State in November 2015 when Prince Abubakar Audu the gubernatorial candidate of the All Progressives Congress (APC) died before the election result was announced.

The section reads, "Provided that in the case of such withdrawal or death of a candidate, the political party affected shall, within 10 days of the occurrence of the event, hold a fresh election to produce and submit a fresh

candidate to the commission for the election concerned."

Speaking after the passage of the bill, Senate President Bukola Saraki said all observations raised by the president in the rejected versions of the bill have been taken care of by the Senate.

He assured that the House of Representatives would in a matter of days concur with the Senate over the bill.

"With the removal of the areas and clauses highlighted by the president in the bill by the legislature, we hope the executive will now assent to the bill to become law with a view to deepening democracy in the country", Saraki said.

Both chambers of the National Assembly had

at three different times between February and July this year passed and transmitted electoral bills to President Buhari for assent without success due to one infractions or the other .The first one passed in February was refused assent by the President due to reordering of election sequence provisions contained in it .The second one passed and transmitted in June was not considered in any way by the president while the third one transmitted in July was refused assent by the president due to alleged "cross referencing error, fears of increased cost of conducting elections," among others.

TOP GAINERS TRANSCORP HONEYWELL FBNHOLDINGS WEMABANK DIAMONDBANK TOP LOSERS FIRSTALUM PZ CUSSONS MCNICHOLS

NGN NGN 0.12 1.37 0.05 1.20 0.40 9.65 0.02 0.62 0.04 1.27 NGN 0.03 0.30 0.95 11.45 0.04 0.50 NIGERINSURE 0.02 0.26 ETI 0.85 16.00 HPE Nestle Nig Plc ₦1,400.00 Volume: 185.192 million shares Value: N 2,350billion Deals: 3,180 As at yesterday 23/10/18 See details on Page 39

% 9.6 4.3 4.3 3.3 3.2 % 9.0 7.6 7.4 7.1 6.2

11

WEDNESDAY, ͺͼ˜ ͺ͸͹΀ ˾ T H I S D AY

NEWS

FG Backs Mini Grid Operators to End Discos’ Monopoly Chineme Okafor in Abuja The federal government yesterday indicated its support for operators in Nigeria’s emerging mini grid electricity sub-sector to break up the monopoly of the 11 electricity distribution companies (Discos) in the country’s privatised power market.

Insisting that the Discos have largely failed to meet the electricity demand of Nigeria’s population as over 50 per cent of the country’s population are not connected to the national grid, according to the Nigerian Electricity Regulatory Commission (NERC), the government explained that it had developed policy frameworks to support the development of mini grid power projects in Nigeria.

The government further urged the operators at a

breakfast meeting in Abuja where a new report on financing off-grid energy projects in the country prepared by the Nigerian Renewable Energy Roundtable (NiRER) - an offshoot of the Nigerian Economic Summit Group (NESG), and American-based Rocky Mountain Institute (RMI) was launched, to leverage on the policy supports to provide more electricity to Nigerians.

The breakfast meeting was held yesterday on the side lines of the ongoing 2018 edition of the annual Nigeria Economic Summit.

Speaking at the meeting, the Permanent Secretary in the Ministry of Power, Mr. Louis Edozie, stated that Discos have not met the increasing demands for power by Nigerians and as such should be open to negotiate with operators and investors in mini grid power

supplies to provide cheap and stable power.

Edozie, who was responding to a complaint made by an official of Eko Disco, Mr. George Etomi, that mini grid operators were encroaching on the franchise networks of the Discos without due consultations, explained that years into the power privatisation, the government still finds that a good number of Nigerians are yet to be connected to distribution networks.

He also noted that the Discos have not expanded their networks or satisfactorily supplied electricity to consumers who are connected to their networks, adding that some of the Discos customers still spend a lot of money to procure alternative power supply.

“Sadly, you are not serving them to their satisfaction. So, let us give them an option. If

independents are willing to come in nobody said you should not benefit from that person coming in, and I think the policy allows for that discussion that you mentioned where the benefits can also be discussed.

“But the important thing is to get the customers satisfied with the service that he is willing to pay for,” Edozie said.

“We have done several transactions to give examples in the ministry or we are in process of doing them. One is the solar embedded mini grid in our own head office building.

We did that as a competitively procured mini grid, we drew up the power purchase agreement and concession agreement that a bidder will bid against and we called the distribution company to say: this is what we are going to do self-provision ourselves and want them in the picture.”

Edozie, added that the

ministry in this regards offered the distribution company involved the benefit of taking excess generated capacity from the embedded mini grid at a rate cheaper than what the Disco got from the national grid, as well as buy from the Disco at a premium if there was supply shortage from the mini grid.

According to him, the Disco agreed to this agreement and the embedded mini grid would be installed soon.

He equally stated: “We are doing another one at the State House which is equally not connected to the distribution network. They are paying a high price and somebody mentioned that to somebody outside the industry to self provide them with energy.”

“So, let the industry look at the customers, satisfy the customers at the price it is willing to pay, then all the

solution providers sit together and see how to divide the benefits because the policy - the mini grid policy, allows that.

“And, I don’t think the policy should be so specific that it prescribes how this discussion should go, no! It is for the developers, the Discos knowing there is a willing customer who wants to be better-provided, to sit down, discuss case by case and come up with a solution that works for them; shares the benefits equitably and satisfies the customer,” he explained.

According to him, the mini grid regulation; import duty waivers on certain power products; as well as other tax relief incentives of the Nigerian Investment Promotions Council (NIPC) are some of the policy instruments the government has developed and would want mini grid operators to explore at all times for their projects.

Ahmed: $8.1bn MTN Sanction is Hampering Investors’ Confidence in Economy James Emejo in Abuja The federal government yesterday admitted that the recent $8.1 billion fine imposed on MTN Nigeria and four other banks by the Central Bank of Nigeria (CBN) over foreign exchange infractions has had negative impact on investorconfidence in the economy.

Minister of Finance, Mrs. Zainab Ahmed, said authorities had since been working to offer some explanation to investors on how the matter was being resolved.

She added that government could not afford to allow a repeat of the development because of its implications for the economy.

She said, "Unfortunately this was negative for us but it's now being sorted out and we are bearing the cost of it. We have been engaging investors

and trying to explain what is happening.”

Speaking during a panel session on 'Sustainable Economic Opportunities: Ending the Vicious Cycle', at the 24th Nigerian Economic Summit, she said the issue was currently being sorted out.

The minister further fore-closed suggestions that more companies may also be punished for similar infractions.

According to her, "We are trying to make sure that this doesn’t happen again. We are continuously discussing with the regulatory authorities and there will be no company next after MTN. Nobody is next because we just can’t afford this kind of incidence to happen.

"The MTN incident was a very damaging one for us and that was one of the reasons why we have been out trying to engage our investors. But you

see there is a tendency for big businesses to take regulation and government for granted."

According to her, multinational companies have however, been operating with impunity by showing disregard for extant regulations, stressing that government will not condone such attitude going forward.

Clarifying on the sanction on the South African company, the minister said MTN had only been asked to refund the amount it allegedly repatriated in violation of extant regulation.

CBN Governor, Mr. Godwin Emefiele, had recently said it was engaging with MTN and the affected banks to ensure the issue was resolved in a win-win situation.

Emefiele had hinted that the apex bank may reduce the amount it has ordered MTN Nigeria to repatriate.

While addressing reporters in London, Emefiele had said new documents provided by the telecom company would help to reduce the size of the claim.

Reuters reported that Emefiele said during a recent visit to London, “I don’t think it will be staying at $8.1bn,”adding that he expected the issue to be dealt with amicably and equitably. “I want to believe that the figure will reduce.

Whether it will be dropped completely, I honestly cannot say at this time,” he added.

Emefiele said the apex bank had received documents about two weeks ago from MTN and four lenders involved in the case – Standard Chartered, Stanbic IBTC Bank, Citibank and Diamond Bank –and was in communication with all parties involved.

“The central bank will be

examining these, then it will be escalated up to my level,” he said, adding that he expected to get the results in a couple of weeks.

The two sides are locked in a court dispute over the transaction as the CBN filed a counter-claim to a court request

by MTN, which is seeking to stop the bank from forcing it to bring back the money.

The apex bank also asked the Johannesburg-based mobile phone company to pay 15 per cent annualised interest on the sum until the court could give a judgment, and 10 per cent from then until the whole amount would be paid.

Emefiele stated that the MTN case was a one-off, and the central bank was not looking at transactions involving any other companies operating in Nigeria.

“We respect the sanctity of

sources confirmed that Ambode had been taking different steps to reunite party chieftains, principal officers of the State House of Assembly and members of the State Executive Council (SEC), among others, to ensure the PDP did not take over the state.

At the first SEC meeting after he lost the return ticket to Sanwo-Olu, a cabinet member told THISDAY that Ambode devoted quality time to preach a message of forgiveness and unity, asking all the council members to work in support of the governorship candidate.

He quoted Ambode as follows: “The primaries have been concluded at all levels. We must forgive one another irrespective of what happened before the primaries.

As a Christian, I will never be vindictive to any person for opposing my re-election.”

He disclosed that Ambode equally told the cabinet members that the State Executive Council “has taken off fully and that we should focus more on governance and issues of public concern rather than engaging in another round of political conflict that can undermine governance and public administration.”

He explained that Ambode encouraged every council member “to double their efforts

to make Lagos a true centre of excellence. All of us must forget what has happened. We must forgive and forget so that we can face the business of government with renewed spirit and approach the next election in unity.”

After Ambode’s address at the SEC meeting, the commissioner disclosed that all council members applauded him, even though they were surprised that he would give in easily. With the development, he said, a taskforce has been set on motion to rehabilitate failed road networks across the state.

Apart from Ambode’s message of forgiveness and rededication at the SEC meeting, an APC chieftain disclosed that Ambode had already collapsed the Ambode Mandate Support Group (AMSG) into the Sanwo-Olu Campaign Council.

Specifically, the APC source disclosed that Ambode appointed a five-man contact team under the leader of the Coordinator of AMSG, Hakeem Sulaimon who held meeting with the Director-General of the Sanwo-Olu Campaign Council, Mr. Tayo Ayinde on how to work together now that the primaries had been concluded.

In addition to Ambode’s decision to set up the contact

AMBODE PLEDGES TOTAL SUPPORT FOR BUHARI, SANWO-OLU The governor, who was denied a second term ticket by power brokers in the state, said for the sake of continuity, good governance and sustained development, he would lead a massive campaign to rally Lagos electorate to vote against the Peoples Democratic Party (PDP) and its governorship candidate, Mr. Jimi Agbaje, in the election next year.

He made the remarks yesterday during an interview with journalists at the presidential wing of the Murtala Mohammed International Airport (MMIA) after the inauguration of the Economic Community of West African States (ECOWAS) border posts at Seme-Krake border in Badagry.

After the controversial primaries that produced Sanwo-Olu as the APC governorship candidate in Lagos State, Ambode had in his concession speech promised to work for the victory of the APC at the centre and in the state during the 2019 general election.

In a state broadcast he addressed after the governorship primaries, Ambode had said he believed the time “has now come for the state to move forward in order that the gains of the last three and half years are not lost.

“APC is a great party and the interests of our beloved state must always supersede that of any person or group. It is in this regard that I wholeheartedly congratulate the winner of the Lagos State APC primaries, Sanwo-Olu.” In his capacity as the governor of Lagos State, Ambode had equally pledged “to do everything possible to ensure a smooth transition in the remaining period of this administration and ultimately to the new Governor, come May 2019.”

Reinstating commitment to his concession speech yesterday, Ambode assured that he would lead a strong campaign “to ensure victory for President Buhari and Sanwo-Olu in the presidential and governorship elections scheduled to hold respectively on February 16 and March 2.”

He noted that it was important for the APC to retain its leadership positions both in the federal and the state level due to what he ascribed to the need to entrench the tradition of continuity and good governance.

Ambode said he was committed “to the re-election of President Muhammadu Buhari.

You can see Buhari’s continuous visit to Lagos reiterates the fact that he is actually a lover of

Lagos State. I am committed to ensuring his re-election in the 2019 presidential election.

“We are going to campaign heavily for him. I am equally committed to ensuring that the APC wins the governorship election come 2019. We support the candidacy of Babajide Sanwo-Olu. We will make sure that APC retains Lagos State and the centre for the sake of continuity.

“I have just accompanied President Buhari to the Nigerian-Benin Border Post.

So what we have commissioned is a joint border patrol post between Nigeria and the Republic of Benin. It is called Seme-Krake Border Post.”

Ambode had received Buhari at the airport before the duo proceeded to Seme, where the president joined his Republic of Benin counterpart, Patrice Talon to inaugurate the Border Post.

With the inauguration, the Seme-Krake joint border, one of the busiest boundary lines not only in West Africa, but also in Africa daily recording huge movement of persons, goods and services, is expected to enhance the free movement of persons and goods in the region and foster integration between the people of Nigeria and Benin.

After losing the governorship ticket to Sanwo-Olu, multiple

these companies,” he added.

Emefiele also said the central bank would continue to intervene in the foreign exchange markets, adding that he believed in a stable exchange rate regime.

We Are Still Discussing with CBN, Says Telco Meanwhile, MTN yesterday said it was continuing to hold talks with Nigerian officials to find a mutually acceptable solution to the dispute over the alleged transfer of $8.1 billion of funds.

“Shareholders are advised to continue to exercise caution when dealing in the company’s securities until a further announcement is made,” Reuters quoted MTN to have said in a statement on the Johannesburg Stock Exchange, where its shares are listed. team that met with the SanwoOlu Campaign Council, the APC source explained that the governor had directed all his supporters across 20 Local Government Area and 37 Local Council Development Area (LCDA) to begin grassroots campaign for the APC governorship candidate.

Immediately after the primaries, according to the source, Ambode sent the message to all his supporters and support groups to ensure that the PDP should not win the state for the sake of continuity and President Muhammadu Buhari. All over the state, Ambode’s supporters are now working for Sanwo-Olu. To demonstrate all the commitment he made in his concession speech, the APC source revealed that Ambode also held a meeting with principal officers of the State House of Assembly also with a message of forgiveness and peace.

He noted that all the principal officers attended the meeting during which the governor pleaded with them “to work for the peace and progress of Lagos State. Irrespective of what happened before and during the primaries, Ambode told them that he had forgotten and forgiven all those who opposed his re-election.”

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NEWS

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

UN Raises Concerns over Sectarian Killings in Borno, Kaduna Danjuma to address British parliament over killings Kaduna govt reviews 24-hour curfew

Shola Oyeyipo in Abuja, Martins Ifijeh in Lagos, Michael Olugbode in Maiduguri and John Shiklam in Kaduna The United Nations (UN) has expressed grave concerns over the sectarian killings in Borno and Kaduna States.

The Norwegian Refugee Council (NRC) has also raised the alarm that the killing of 12 farmers in Borno State may aggravate the food crisis in the North-east.

A former Minister of Defence, Gen. Theophilus Danjuma (rtd), will however, in January 2019 address the United Kingdom Parliament over incessant killings in North-central part of the country.

This is coming as the Kaduna State Government yesterday reviewed the 24 hours curfew imposed last Sunday in Kaduna metropolis following outbreak of violence.

A statement issued at the end of the state security council meeting said the curfew had been selective and varied following reports of security threats in some parts of the metropolis.

A former Kaduna State Governor, Senator Ahmed Makarfi has also condemned the violent clashes in Kasuwan Magani and Kaduna metropolis, saying it is a setback in the quest for lasting peace in the state.

The UN in a statement issued yesterday by its Nigeria’s Resident Coordinator, Edward Kallon, said the attacks in Borno and Kaduna States need to be checked immediately by the Nigerian Government.

He noted that over 90 lives were lost in attacks in both the

North-east state of Borno and the North-west state, Kaduna.

Kallon said: “I would like to express my grave concern over news of renewed killings by the armed insurgent group, Boko Haram. It has been reported that close to 40 lives were lost in separate incidents over the last few days, when the group attacked civilians in Borno State.

“While numerous efforts are underway to bring the crisis in the North-east to an end, I would like to appeal to the government of Nigeria and security forces in the region to scale up their efforts aimed at protecting civilian communities especially in areas where sporadic attacks have been recorded recently. These attacks, if unchecked, may reverse the gains made so far in securing lives and property in the region.”

He added that: “I have also learned with sadness, the loss of over 50 lives following communal clashes in Kasuwan Magani area, South of Kaduna State. I urge authorities in the state to seriously look into circumstances leading to these clashes, which have become too common. I appeal to all stakeholders to commence processes to amicably address their underlying causes and bring the perpetrators to account.”

He, however, said: “On behalf of the UN family in Nigeria, I wish to express my sincere condolences to the families and friends of the bereaved. The UN remains ready to support the government and people of Nigeria in seeking sustainable solutions to related national challenges.”

Meanwhile, the Kaduna State Government has selectively reviewed the 24-hour curfew

Oshiomhole Asks Court to Dismiss Corruption Suit against Him Alex Enumah in Abuja The National Chairman of the All Progressives Congress (APC), Adams Oshiomhole, has asked the Federal High Court, Abuja, to dismiss a suit seeking to compel the Economic and Financial Crimes Commission (EFCC) to investigate and prosecute him over corruption allegations.

An Edo-based human rights activist, Bishop Osadolor Ochei, had approached the Federal High Court, Abuja, for an order compelling the EFCC to investigate and prosecute Oshiomhole for allegedly siphoning funds belonging to Edo State when he held sway as governor of the state.

But Oshiomole, in a notice of preliminary objection to the suit yesterday, asked the court to dismiss the suit for lacking in merit and for also being status barred.

The former governor in his notice of preliminary objection filed by his lawyer, Damian Dodo, a Senior Advocate of Nigeria (SAN), maintained that the plaintiff lacked the locus standi to institute the legal action.

Oshiomhole, who, predicated his request on 10

grounds, argued that the applicant ought to file the instant suit for judicial review within three months of occurrence of the subject of the application.

He added that the action of the EFCC, which is being subjected to review by the instant proceedings occurred on December 13, 2016, while the proceedings for judicial review commenced on June 13, 2018, 18 months after the occurrence of the alleged failure being complained about.

The senior lawyer further argued that the plaintiff’s right of action has become unenforceable.

Attacking the issue of locus to file the suit, Dodo said the plaintiff has not shown how the actions of the second respondent/applicant affected him over and above other residents and indigenes of Edo State.

In addition, Oshiomhole submitted that the court lacks the jurisdiction to entertain the suit for failure of the bishop to commence the action within the time provided by extant rules of the court and for failure to disclose locus standi to file the action.

imposed on Sunday in Kaduna metropolis following outbreak of violence.

A statement issued at the end of the state security council meeting said the curfew had been selective and varied following reports of security threats in some parts of the metropolis.

The statement signed by Samuel Aruwan, media aide to Governor Nasir el-Rufai, said following the review, the security council recommended that the

24-hour curfew in Kasuwan Magani and Kujama areas is relaxed to begin from 6 a.m to 5 p.m However, the security council noted that in view of seeming security threats in places like Kabala West, Kabala Doki, SabonTasha, Narayi and Maraban Rido, the 24-hour curfew is to be sustained.

“The state Security Council determined that threats continue in Kabala West, Kabala Doki, Sabon-Tasha, Narayi and

Maraban Rido within Kaduna Metropilis where attacks on places of worship were either attempted overnight or contemplated.

“Therefore, the Security Council has decided that the 24-hour curfew should remain in these places and will be vigorously enforced.

“Any individual that violates will be arrested and the security agencies directed to engage any hoodlums or unauthorised groups with appropriate force”

the statement said.

It noted an improvement in security in the rest of the metropolis and decided that a window of time from 1 p.m to 5 p.m on Tuesday is allowed for residents to be able to restock food stuff and other essentials.

Meanwhile, some lawmakers in the lower chamber of the National Assembly have traced the killings, abductions and destruction of property in Kajuru and Chikun Local Government Cont’d on pg 50

FOR A MORE SECURE BORDER...

L-R: Lagos State Governor, Mr. Akinwumi Ambode; Chairman , ECOWAS Commission , Mr. Jean- Claude Brou; President Muhammadu Buhari and President Patrice Talon of Benin Republic, inaugurating the Joint Border Post of Seme-Krake border in Lagos …yesterday PHOTO: GODWIN OMOIGUI

Wait for Your Imminent Defeat, Kwara PDP Tells Buhari, APC Hammed Shittu in Ilorin The Kwara State chapter of the Peoples Democratic Party (PDP) yesterday said President Muhammadu Buhari and the All Progressives Congress (APC) should wait to accept their imminent defeat in the 2019 governorship election in the state.

The PDP noted that the directive given to the APC by President Buhari to take over the

mantle of leadership in the state is a dream in futility.

The party in a statement issued in Ilorin yesterday signed by the state Publicity Secretary, Mr. Tunde Ashaolu, stated that “President Buhari should be more worried about the killings going on in different parts of the country and other pressing issues confronting the country rather than get fixated on the tall dream of APC taking over power in Kwara State.”

The party spoke against

the backdrop of the outcome of a meeting with the APC governorship aspirants in Abuja last Monday by President Buhari where he gave them a matching order to ensure the takeover of the state from PDP and Senate President, Dr. Bukola Saraki, in 2019 general election.

According to the statement, “As a responsible and compassionate party, we enjoin the APC-led government to urgently address the insecurity in the country rather

than dissipating its energy to cause unrest in a peaceful state like Kwara. “The senseless killings in Kaduna, Plateau, Benue, Borno States and in other parts of the country are unacceptable and must stop immediately.

“The marching order by the president to the APC stakeholders to take over Kwara State is a reflection of the party’s desperation to take control of the state at all cost and put it in captivity of the Lagos and Abuja cabals.”

Presidency Asks Nigerians to Ignore Nnamdi Kanu’s Recent Outburst Britain to issue temporary travel documents to IPOB leader Omololu Ogunmade in Abuja

The presidency yesterday in Abuja dismissed the latest threat by the fugitive leader of Indigenous People of Biafra (IPOB), Nnamdi Kanu, asking Nigerians to ignore it.

This is coming as Britain is planning to issue temporary travel documents to the IPOB leader.

Kanu who was reportedly sighted in Israel through a video last week, had threatened to return to Nigeria “with hell.”

Reacting to the threat, the presidency, in a statement

by Senior Special Assistant to President Muhammadu Buhari on Media and Publicity, Malam Garba Shehu, said Nigeria under the leadership of Buhari is strong

enough to defend its territory.

According to the statement, the renewed threat by Kanu is strange and a mere distraction, which he said would not be allowed to strain Nigeria’s cordial relationship with other countries. It also added that Nigeria maintains its relationship with other countries, stating further that such countries also reciprocate the relationship by respecting the sovereignty of Nigeria.

The presidency concluded the statement by advising Nigerians that they had nothing to fear.

The statement read: “The presidency wishes to restate that Nigeria under President Muhammadu Buhari is strong enough to defend its territory against any threat, assuring all Nigerians that there is no reason

to worry about the hollow outburst by Nnamdi Kanu, the disputed leader of IPOB on returning to the country ‘with hell.’

“Instead, we see the reenactment of his bizarre, episodic threat as a mere distraction which will not be allowed to detract from the existing cordial relationships between Nigeria and other countries.

“The Buhari administration is in constant touch with other friendly nations and has the best assurances that they would continue to reciprocate the respect Nigeria has for the sovereignty of their nations.

“Nigerians have nothing to fear from this.”

Meanwhile, Britain is planning to issue temporary

travel documents to the IPOB leader.

A source privy to the information, told journalists that Britain had informed the federal government that it was about issuing the documents to Kanu who also holds British citizenship.

According to the source, British authorities told the federal government that they meant no harm for Nigeria by the move.

“British authorities have briefed the Nigerian government about the temporary travel documents they were about to issue to Nnamdi Kanu, who holds a Nigeria-UK dual citizenship that they have the best intentions towards the Federal Republic of Nigeria,” the source said.

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COMMENT

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

BETWEEN BUHARI AND ATIKU

Sonnie Ekwowusi argues the need for Nigerians to vote wisely in the next election

“B

uhari and Atiku are two evils. We have to choose a lesser of the two evils�. This is what some people have been saying since Buhari and Atiku emerged as the presidential candidates of their respective parties in the 2019 presidential election. With the greatest respect, I have a strong objection to this comparison. Nobody is ontologically evil. Every human person possesses an intrinsic worth and a value greater than all the monies and property in the world. Therefore Buhari is good. Atiku is good. We have grown accustomed in Nigeria to insulting and calumniating our neighbours especially the politicians. This is not good.

Imagine since Atiku chose Peter Obi as his running mate some Nigerians have started attacking the person of Peter Obi. We should attack issues not persons. Every politician is entitled to his or her good name until the contrary is proved. Given the adversarial legal system and adversarial politics which Nigeria has embraced and practices, every person is presumed innocent until he or she is proved guilty by a court of competent jurisdiction. Suspicion no matter how probable cannot ground a criminal conviction. A mere invitation of someone to the office of the EFCC or interrogation of the person by the EFCC does not make the person a thief or a criminal. So let us control our tongues. Let us give our fellow human beings the benefit of the doubt. Let us desist from pre-judging them or condemning them.

Having said that, constitutional democracy, even as we understand it in Nigeria today, guarantees the citizens including members of the opposition certain basic rights. One of these basic rights is the right of the citizens to express their satisfaction or dissatisfaction with the performance of their political leaders. Corollary to this right is the right to vote out a bad leader who has failed to live up to his bidding. Even from the viewpoint of the spirit of truth and self-interest it is well to remember that each of us belong to different religious, social, political and economic groups. Therefore everyone has a right to feel satisfied or dissatisfied with the manner with which a particular political leader is governing the country. Equally we have the right to have prejudices, prescriptions and presumptions about our leaders because these are necessary to protect the society from the disordered appetites of political leaders.

If a political leader is discharged of reverence for prejudices, prescriptions and presumptions of the people he would, almost certainly, treat his country as if it were his private property to be consumed by his sensual gratification or he would turn his country into St. Augustine’s Kingdom of open robberies. This means that the citizens have the right to hold views on the position of the political leaders on issues affecting their wellbeing. The citizens equally have the right to campaign against the bad policies of a particular political leader or government. The people may not think that the government in power shows the seriousness of the times. They may come to the conclusion that the government in power is a government of pigs instead of a government of experts or the enlightened or the guardians as Plato called it in his Republic.

Therefore in comparing Buhari to Atiku or with the other presidential candidates for that matter in order to make an intelligent choice at polls in the 2019 Presidential election the people have a right to hold the view that President Buhari has failed to live up to popular expectation in the last three and half years especially on major issues affecting Nigerians such as economy

CITIZENS HAVE THE RIGHT TO HOLD VIEWS ON THE POSITION OF THE POLITICAL LEADERS ON ISSUES AFFECTING THEIR WELLBEING

and financial crisis, security of lives and property, respect for human rights and war against corruption. A failure in any of the aforesaid issues or a combination of them has been the basic reason for a major shift in voting pattern in most countries.

For example, owing to the great depression in the United States in 1873 caused by the financial and industrial collapse, the Republicans were ousted by the Democrats. But in 1893, precisely 20 years afterwards, the Republicans bounced back and ousted the Democrats as a result of depression caused by financial and industrial collapse. In Nigeria, President Goodluck Jonathan was voted out at the polls in 2015 due to his poor performance in office. Now that President Buhari is performing badly in office the people should resolve to vote him out at the polls next year to pave way for progress. What was done to the gander should be done to the goose. It beats the imagination that a ruling government that came to power on the mantra of fighting corruption should turn round to become an epitome of corruption. More importantly, the Nigerian economy under Buhari has virtually collapsed. From 2015 to date most Nigerian professionals especially medical doctors have fled Nigeria to seek succour abroad. Writhing under the pains of the suffocating economic policies of President Buhari’s government, many multinationals have shut down their operations in Nigeria and probably moved over to Ghana. From 2016-2018, 9.3 million Nigerians lost their jobs. From 2015-2018, poverty in Nigeria tremendously increased. According to the African Development Bank (ADB) in its 2018 Nigeria Economic Outlook, about 152 million Nigerians now live on less than $2 a day, representing about 80 per cent of the country’s estimated population of about 190 million. Uncountable discontent young Nigerians are loitering the streets. Their future appears bleak. For the first time in many years, many frustrated Nigerians are now reportedly committing suicide. The Buhari administration has gone down in history of Nigeria as the worst government that has failed to protect lives and property of the citizenry.

Despite the massacre of Nigerians by the Fulani herdsmen in Nimbo, Enugu State, Benue State, Southern Kaduna, Taraba State, Adamawa State, Zamfara State, Borno State, none of the murderers has been charged to court, tried and convicted.

This is sad. From 2015 to date, several human rights abuses and violations have been recorded in Nigeria. That is why the United States Department of State has issued a 48-page damning report stating inter alia that impunity remained widespread at all levels of government in Nigeria in the last three and half years.

Therefore considering that President Buhari has failed to find his rhythm in the last three and half years he should be voted out next year. Nigeria is unstoppably sinking into the abyss every passing day. Therefore we must salvage Nigeria.

We should not allow our ethnic, APC or PDP parochialism and particularism to hinder this aspiration. In other words, irrespective of our ethnic or party affiliations all hands must be on deck now to rescue Nigeria from final collapse. This is apolitical project. Anybody opposed to the project is far away from loving Nigeria. If President Buhari has not managed to find his rhythm after three and half years it means that he will never find it even if he is re-elected for another four years.

Nigeria needs a new president next year. In constitutional democracy sovereignty resides with the people. In exercise of that sovereignty therefore the Nigerian people are capable of electing for themselves next year a brand new president.

MATERNAL AND INFANT MORTALITY IN WEST AFRICA The rate of maternal and new born mortality is unacceptable, writes Clem Ugorji

T

he pain of childbirth has been described as equivalent to 20 bones getting fractured at a time, a level slightly greater than the 45 del (a subjective measure of pain) limit of pain a human can endure. With this unique experience comes inexplicable joy and the pain is momentarily forgotten.

But not in all cases. The curtains may fall on the mother or baby or both, and the long nine-month wait ends in anguish with a psychological pain that can never be quantified, not in words or numbers.

Maternal and newborn mortality ratios, that is, the rates at which women or babies die from birth related complications, in West Africa are among the highest in the world.

UNICEF reports that the maternal and newborn mortality rates in the West and Central Africa region are 679 women per 100,000 live births and 31 babies per 1000 births, respectively. This is in sharp contrast to the global average of 216 women and 16 babies. In Nigeria, the statistics are even higher, at 814 women and 34.1 newborns respectively (UNICEF 2018 Report).In 2016, Nigeria accounted for 9% of newborn deaths globally, behind only India and Pakistan, according to UNICEF. The statistics for maternal mortality are worse; in 2015, 19% of women who died during child birth in the world were in Nigeria with the country being regarded as one of the most dangerous countries in the world for childbirth (Joint Maternal Mortality Report by WHO,

UNICEF, UNFPA, World Bank Group, and the United Nations Population Division).

About 80% of the major causes of newborn deaths - complications related to preterm birth and low-birth-weight, infections such as sepsis or pneumonia and asphyxia (lack of oxygen at birth) - are preventable. The same goes for maternal deaths which are mostly caused by sepsis, obstetric haemorrhage or bleeding, unsafe abortion, obstructed labour and preeclampsia complications. In the presence of skilled medical personnel and with access to healthcare facilities during pregnancy and at the time of birth, these numbers will reduce significantly. Unfortunately, in most parts of West Africa, these essentials are available to a small percentage.

In remote areas of the region, where majority of the births that make up these statistics occur, there are limited healthcare facilities and skilled birth attendants. Pregnant women in those areas complain about the cost of treatment, the distance of the health facility and attendant transportation costs as well as the unavailability of medical personnel and equipment during visits.

Only slightly above one-third of births in the country are attended by doctors, nurses, or midwives; the rest takes place at home or in traditional birthing centres, where complications cannot be managed, leaving the statistics on newborn deaths uncaptured, in most cases.

These newborns and women are not just

statistics. There is value in every human life, but more so children. They add beauty to our world - their innocence, their hopes and dreams. They form the very foundation on which we build our society. They provide the fresh canvas on which we can repaint the future of our nation. In these neonatal mortality statistics, we could have lost the scientist who would invent a cure for cancer, the President we yearn for, and more; individuals with boundless potential before their lives are cut short. Undoubtedly, maternal and newborn deaths affect all of us and we cannot begin to quantify their impact.

This unacceptable situation is one of the many societal challenges that governments alone cannot effectively address. It is therefore encouraging that stakeholders at global and local levels, including many private sector players, are standing up to be counted in the fight against maternal and newborn deaths. At Coca-Cola, we are fostering partnerships with some governments across the West Africa region to improve the status quo. The Safe Birth Initiative (SBI), our new community Wellbeing programme to support efforts by national governments to reduce the alarming numbers of women and newborns who die from birth related complications every day, is one more investment through which we are determined to make a difference in our communities and help make the SDGs a reality.

This initiative is being piloted in Nigeria

and Ivory Coast. In Nigeria, it is implemented as a strategic golden triangle partnership involving Coca-Cola, the government (the Federal Ministry of Health and the Office of the Senior Special Assistant to the President on Sustainable Development Goals) and an NGO, Medshare International Inc. With a focus on promoting safe birth through strengthening the capacity of our hospitals, the Safe Birth Initiative will support the government in three key areas to help doctors and nurses in target public hospitals to minimize maternal and newborn deaths: providing vital maternal and neonatal medical equipment and supplies; training biomedical technicians/engineers to improve equipment maintenance and uptime; and reactivating abandoned medical equipment in hospitals which are wasting away at the expense of the precious lives of mother and babies for whom they were procured in the first place.

Over the next two years, the Safe Birth Initiative will focus on 10 leading referral institutions comprising university teaching hospitals, federal medical centres and general hospitals across the country. Pregnancy gives life and should not take lives. We can all help to make this a reality in our communities, so that our mothers and babies come home alive.

Ugorji is the Public Affairs, Communications & Sustainability Director for Coca-Cola West Africa

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EDITORIAL THE CHALLENGE AND COST OF FLOODING The authorities should do more to address the cause of flooding

W

hile the seeming ceaseless rainfall has claimed the lives of more than a hundred Nigerians in recent weeks, there are fears that it may have also endangered the prospects of food security in the country in the foreseeable future. This has elicited outcries from critical stakeholders, including the National President of Cocoa Association of Nigeria (CAN), Mr Sayina Riman. He argued that farmers are now apprehensive “as pods that could have germinated have experienced stunted growth or washed off by oods in other instancesâ€?. Lamenting that what could have been a bumper year for farmers because of the early rains has become a nightmare due to the volume of rainfall, Riman said that “the volume we have THERE IS THE NEED FOR per day is like rain NIGERIANS TO BEGIN TO that should spread for a month,â€? with IMBIBE THE CORRECT dire implications for ATTITUDE TO WASTE cocoa farming.

From Bayelsa DISPOSAL BECAUSE and Rivers States in FLOODING IN SOME the South-South to OF OUR MAJOR CITIES Benue and Kogi in the North-Central CANNOT BE SOLELY and several other EXPLAINED BY THE parts of the country, FACTOR OF NATURE farmers and other business owners are counting their losses in billions of naira. Such is the nature of destruction that after undertaking an over-y on a helicopter of the ooded communities in Rivers and Bayelsa States last Friday, Vice-President Yemi Osinbajo described what he saw as a “monumental disasterâ€?. Yet, while the devastation in the two coastal states may have been severe, the experiences in several other states are equally bad.

Indeed, there is hardly any state in the country that is not affected by the current ood as hundreds of thousands of our nationals now take shelter in internally displaced persons

Letters to the Editor

L

ife and its ironies and mysteries. How a man so full of life, so full of energy, with an unusual capacity for love and friendship would be snatched by death in his prime will remain the question on our lips as mortals because we are mortals. The day mortals unravel the mysteries of life and death that day they become divine. That day however will never come as matters of life and death are exclusively within the province of the Almighty Who shares his glory with no man.

John was unusual in many ways.

My house as a young bachelor Commissioner in the old Cross River State from 1984 to 1986 became a rendezvous for many students of the University of Calabar and the Polytechnic, Calabar, young men then who today occupy commanding heights in the private and public sectors. I got to know all of them very closely individually and collectively.

John naturally emerged the leader of the pack, he was their moderator, unifier,

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(IDP) camps in the hope that the waters will soon recede. But the waters are not receding fast enough as the nation is still littered with submerged roofs, ruined neighbourhoods with several washed off farmlands. Within the past one month, several villages, schools and farmlands have been submerged as more Nigerian join the growing population of the internally displaced. And the cost both in human toll and to the economy is enormous and mounting.

Following the development, the Minister of Agriculture and Rural Development, Chief Audu Ogbeh, recently raised the alarm over what he described as “imminent food shortage in the country,â€? due to the ood that has washed away several farmlands across the country. “The oods have been terrible.We had to reach out to farmers who had lost their crops, because in states like Jigawa, Kebbi, Anambra and Kogi, many farmers had lost everything they plantedâ€?, said Ogbeh.

For farm products, the immediate cause of damage during ooding is usually oxygen depletion but some crops are more sensitive than others. Flooding does not only affect plants, it also affects the condition of the soil.

But given the enormous damage it does to farming in our country on an annual basis, it is time the authorities found a lasting solution that may include creating run-off ponds or sediment traps. These are some of the measures that have been adopted in other countries with good results.

Indeed, there are ways in which several countries deal with ash ood which is what is prevalent in Nigeria but the authorities and relevant stakeholders need to sit down on the issue. Beyond such intervention both by the government and private sector, as we have repeatedly advocated is the need for Nigerians to begin to imbibe the correct attitude to waste disposal because ooding in some of our major cities cannot be solely explained by the factor of nature. There is also the need for the people to curb certain dirty habits that block drains and cause ooding.

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.

FAREWELL, JOHN ODEY chief interlocutor and negotiator. His affable manners and ability to make light of the heaviest and most difficult situations guaranteed him results almost always. His loyalty to his principals and commitment to his pursuits were self-evident.

John was a regular fellow who took matters of his Roman Catholic faith and his belief in God seriously. He was deeply involved in church activities and soon earned the respect of the clergy and the laity. He was a Knight of St. John International expectedly. He was always ebullient and warm and could never be missed in a crowd. He stood out especially among his peers.

He set out his working life in the private sector with Tofamid Industries Ltd under the watchful eyes of General Anthony Ukpo (rtd), to whom John was always a son, indeed first son. He was to move into the murky waters of politics where he got his definition. He pitched tent with APP briefly before joining the PDP where he quickly became

a party apparatchik. He was state treasurer of the party before becoming Commissioner for Agriculture in the acclaimed Donald Duke’s administration.

He moved on to becoming National Publicity Secretary of the PDP and then Honourable Minister of Information and later Environment. He had established himself as the torchbearer of his generation and a leader not just of the Yala nation, but Cross River State and, indeed, Nigeria, all in barely 59 years confirming the trite saying that after all it is not so much the length of our years that matters but the life in our years. It is not so much the quantity of our lives but the quality. John had life in every year of his life and lived a qualitative and productive life. Mercifully I had the opportunity of visiting him in Dubai while he was receiving treatment. He still demonstrated that zest for life that had become characteristic. He looked forward to the future of his family, people, state and country with faith and hoped and looked forward to his

continued contributions to society, but the Almighty in His wisdom has called him to service in His kingdom.

He was the essential family man who strongly believed that the family was the foundation of society. He was a loving husband to Mary Alache, and a doting father to Anthony Ikaba, Grace, John (Junior) and Mary Rita with whom my family and I share this grief. Our consolation is that he found eternal rest, after his earthly exertions, in the bosom of his Maker whom he faithfully served while on this mortal plane and after a life of love, service and sacrifice to family, community, state, country, humanity and the Almighty.

Ajonny, when is the best time for one to die? The best time is when one actually dies. For you your time came when you did. Rest in perfect peace my brother even as you live in our hearts forever.

Victor Ndoma-Egba, SAN, Chairman of NDDC

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THISDAYt WEDNESDAY OCTOBER 24, 2018

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MIDWEEKPOLITICS

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

THE NEWSMAKER

He Desires to Save Us All Ayodeji Rotinwa writes the People’s Democratic Party presidential candidate, Alhaji Atiku Abubakar may know a thing or two about endurance, for his persistence to be president for 27 years

W

hen a few weeks ago, Atiku Abubakar emerged as the Presidential Candidate of the Peoples’ Democratic Party (PDP) for the number one office in Nigeria, it was the another trip of expectation from a nation that is used to the intermittent arrival of messianic figures on its socio-political scene.

In 1992, not-too-young-to-run at 45, he contested against Chief MKO Abiola in the presidential primary of the Social Democratic Party (SDP) and lost. In 2007, he was chosen as the candidate of the Action Congress of Nigeria (ACN) and lost. He was still young and sprightly, at 61. In 2011, he contested party primaries again, at 65, within the People’s Democratic Party (PDP) and lost.

Now, in the same party, he left briefly for three years, he has won, at the ripe, young at heart age of 71.

Everytime, he, out of the goodness of his heart, expressed his desire to save us all. But inconveniences - like Goodluck Jonathan, Umaru Musa Yar ’Adua - stood in his way every time, delaying his ascent. Now he is in the running again.

We should all be merry and rejoice.

For someone who has been trying to be president for 27 years, clearly the man knows a thing or two about endurance. This means he will understand what it is like for some of our communities all over the country to be without electricity, cut off from the national grid, for the same amount of time or even more.

How we still somehow survive, or even thrive. He must know. Both of us want power and know what it’s like to not have it.

And what about his strides in business, his innovation, his mastery of strategy? We as a country have a lot to learn from him. He built a customs logistics business while working in the the Nigerian Customs Service, the government agency that would hire such a business. So he was essentially, allegedly paying himself.

What wisdom. What a masterstroke.

Detractors and other inconveniences in his business have called it a conflict of interest. Our Messiah does not indulge in such a thing. It means nothing.

He was being a smart businessman.

Anyway the government’s resources deserve to be shared to him. Afterall the Bible says he who has some, can still have more. Or is that not how the story goes? What might we expect when he becomes president? Perhaps more savvy business decisions. More opportunities to learn at his feet by us all. All the government agencies should really be so glad. Inspired by his example, should we expect to see (more of) civil servants in the Ministry of Environment setting up waste disposal companies and awarding self contracts? Or those working

in youth development setting up NGOs? The thought is so exciting.

A revolution is coming.

According to many reports, Atiku had so much stainless wealth, he even shared some of it with the richest country in the world, the United States of America, through an affiliate- USD 40 million some documents said. Enough to build a few schools and roads for us while he was Vice President for eight years. But the Messiah is teaching us endurance.

We may not have these now, but he is bringing then soon.

How about how he connects deeply with the youth? He may be three decades away from being a century old but who’s to say that he will get in the way of ruling our complex, sprawling country? In any case, his competition this election round, President Muhammad Buhari has paved the way for staying fit with regular airplane rides and spending time outside the country for fresh air.

A template Umaru Musa Yar’Adua had also set. Perhaps, Atiku will lean on the wisdom of his forebears. Yes, his connection with the youth. Did you see how on Twitter he was photographed running the treadmill? Our Messiah knows we do not work hard enough.

That being tested with meagre salaries, poor educational systems, ill-equipped hospitals, corruption, terrorism is not enough. We must also be tested physically. He is leading the way. We all should get treadmills too. Atiku has also promised that 40 per cent of his cabinet will go to women and youth.

A true believer in equality. The math may be a little wonky to some, but we must not forget this is a country for old men. He is teaching us to respect our customs and traditions.

Our elders have done well, so far.

Haven’t they?

Our Messiah will also teach us the art of cunning. The scheme. Do you remember how he tried to get his former boss Olusegun Obasanjo out of office when the General wanted to run for a third term. The Messiah was protecting us from the excesses of man allegedly quoted at the time to want to be like Gaddafi, Biya and Sese-Seko. Atiku has now said he will only serve one term. But in 2014 he said he would not leave the All Progressives Congress (APC). The Messiah likes to keep us on our toes. See? A cunman. He teaches us how we must never be shackled by inconveniences like honesty. Who has truthfulness helped? Those who must rise out of poverty, must be cunning like him. Wily. Calculating.

February 2019 cannot come soon enough. He has not been crowned yet but our Messiah is on his way.

The newspaper columns written by friendly editors say so. The sponsored social media posts say so. Peter Obi, the man with one watch, and his Vice President is saying so. So what are you saying? Won’t you welcome him?

UIF TFDVSJUZ GPSDFT UP Ă HIU UFSSPSJTN BOE crime. Additionally, I will do what I do best - job creation Abubakar justifying his quest to lead Nigeria r*G ZPV IBWF BOZ FWJEFODF PG DPSSVQUJPO against Atiku, please come forward. But nobody has been able to come forward.

Abubakar challenging his accusers to substantiate allegations of corruption against r-FU OPCPEZ DPNF BOE EFDFJWF ZPV PO corruption. They are more corrupt than any government that I know since 1999 and we shall be revealing their level of corruption.

Fighting corruption alone is not the only responsibility of government Abubakar inisiting that the APC government was more corrupt than previous regimes

r8F IPME UIF WJFX UIBU VOHVBSEFE OBSSBUJWF hurts the country and further divides us as a people. Some of the consequences of previous mismanaged campaign efforts is perhaps the reason why there is little or no internal cohesion with its attendant security challenges Abubakar urging his supporters to focus on issue based r/JHFSJBOT DBO OP MPOHFS CF IPPEXJOLFE by the Orwellian propaganda that is the signature of this administration. The 2019 presidential election will be determined by Nigerian voters and not by political soothsayers. Nigerians will make a determination whether to settle for incompetence versus competence; cluelessness versus knowhow; joblessness versus employment; restiveness

versus engagement; divisiveness versus unity; nepotism versus merit and bigotry versus inclusiveness Abubakar alerting Nigerians to alleged lies and propaganda by the Buhari-led government r0VS FMFDUSJDJUZ HFOFSBUJPO QMBO TIBMM CF EJWFSTJà FE UP JODMVEF DMFBO FOFSHZ IZESP solar and nuclear) in addition to natural gas. As you may be aware, the transmission infrastructure of the power sector is ageing and in dire need of investment. We shall provide incentives, including tax breaks to the private sector to invest in the development of NVMUJQMF HSFFO à FME NJOJ HSJE USBOTNJTTJPO systems Abubakar presenting his capacity to resolve Nigeria’s seemingly intractable challenges in the power sector

Abubakar

OFF THE CUFF: r-FU VT SFNFNCFS UP TQFBL UP FWFSZPOF about the task we have in this election - to replace a government that has lost over 6 million jobs with one that will create new jobs Abubakar castigating the Buhari-led administration for loss of r'PS FWFSZPOF XIP TVQQPSUT NF * BTL you to conduct yourself respectfully, even with people who do not agree with you.

There will be insults, falsehoods, threats and innuendo. Ignore them and stay focused on the task of rebuilding Nigeria Abubakar exhorting his supporters to keep the peace r5IF NPTU FGGFDUJWF XBZ UP Ă HIU DSJNF is to provide opportunity to create wealth, because poverty is conducive to crime. If you elect me as your President, I will equip

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POLITICS

Disregard for Justice Remains a Greater Form of Corruption, Says US Envoy Hammed Shittu Ambassador of the United States to Nigeria, William Stuart Symington has said that, disregard for justice and the rule of law remained a greater form of corruption than stealing of public fund.

Symington stated this in Ilorin, Kwara State at the 34th convocation lecture of the University of Ilorin.

He had delivered a lecture entitled “Citizen Leadership and the Link between Economic Diversity and Democratic Good Governance” where he also said the task of developing Nigeria should be jointly done by the government and the citizenry.

Responding to a question from a member of the audience on how the country could develop as the United States, Symington hilighlited patriotism, selflessness and transparent service, justice, and consistency in doing good as important factors.

He suggested that, disregard for justice and the rule of law should be seen as greater form of corruption than stealing of money.

He said: “ What many consider as the great corruption is stealing of money but what to me is the great corruption is when people are deprived justice, when you do things without regard to the rule of law.

Speaking further, the US Envoy said the process of making Nigeria great requires a collective effort of all the stakeholders.

He said that, all the citizens must be working with the government instead of only relying on government for improved fortune.

Kano GPN Gubernatorial candidate in Trouble Ibrahim Shuaibu

Symington who expressed believe in future greatness of Nigeria urged the citizens to always behave at home as they do in abroad.

He explained that, the people of the country must give priority to their Nigerian identity as against tribal or regional one.

He said that any young person who desires to contribute in future to the transformation of the country should start the process now by endeavouring to change the life of his partner to a better, where necessary.

The Ambassador noted further that, security and other challenges in the country would be surmounted when the citizens unite and work together.

He said, “One of the most important things that I want you to leave today with is the idea that good governance can only come from strong independent citizens. So I think the right answer is,there is no person who can make Nigeria more secure.

“There was that time in Nigeria when security was not the job of only the soldier and the police, but every village chief and every person who lived in the town were involved”.

The envoy added, “There is no police force in the whole world that keeps the neighbourhood safe all by itself. If you have such a police force, I would not want to live in that neighbourhood. Every security in the world derives from the support of the people in the place that is insecure.

“If you will have the tenacity to change Nigeria, look around you right now and change the life of one person today.”

The Economic and Financial Crime Commission (EFCC) has arraigned the Kano State governorship candidate of the Green Party of Nigeria GPN) , Abdulkarim Abdussalam before a Federal High Court sitting in Kano over alleged N100 million fraud.

Abdussalam was arraigned along side one Ebere Nzechukwu.

The Presiding Judge, Justice Lewis Allagoa, ordered the anti graft commission to produce all the defendants and adjourned

the case till November 19 for arraignment.

Mr Johnson Ojogbane also the prosecuting counsel, presented only the third defendant, Nzechukwu to the court.

He also alleged that the first defendant Abdulsalam was not in court and refused to honor EFCC invitation. He, therefore prayed the court to adjourn the case to enable him produce the two other defendants.

According to him, the two defendants and one Michael Edosa now at large, sometime in August 2014 conspired to obtain $1,320 million from Dr

Jamman Al-Azmi.

“The defendants represented themselves to the complainant that they have the capacity to partner with him for a joint venture business which representation they knew was false” The prosecutor alleged that Abdussalam sometime in August 2014 at Kano within the judicial division of the High Court with intent to defraud, obtained the sum of $200,000million from the complainant Al-Azmi when he represented that he had the capacity to partner with him

for a joint venture business.

He added that in August 2014 and September 2014 Abdulsalam within Kano Judicial High Court with intent to defraud and obtain the sum of $678,000 million $242,000 million and $200,000million from Al-Azmi, all total to the tune of N100 million.

Ojobane said the defendants are facing a nine-count charge, offence which contravened sections 1(1)of the Advanced Fee Fraud and other Fraud Related offences Act 2006 and punishable under section 1(3) of the same Act.

TOOLING THE ELECTORAL PROCESS

Dr. Jamilu Isyaku Gwamna, speaking during the All Progressives Congress (APC) Gombe stakeholders meeting at APC Square in Gombe

Buhari’s Government, a Total Failure - Ikenga Ugochinyere

Plateau Council Aspirant Vows to Reclaim Mandate

Udora Orizu in Abuja

Seriki Adinoyi

The National Chairman of Action People’s Party (APP) and Publicity Secretary of InterParty Advisory Committee (IPAC) Ikenga Ugochinyere earlier in the week expressed disappointment with the APC led administration which he deemed as a total failure and a huge joke.

In an interview with Thisday, Ugochinyere stated that the government elites has destroyed the hopes and aspirations of Nigerians, highlighting that President Buhari has failed to live above board on the plans he set before assuming office.

In his words “I will be speaking on APC in my capacity as the spokesperson of CUPP, I can tell you that the APC as long as we are concerned is a total failure and a huge joke. And I want you to understand that we judge Buhari only on three things and these are standards he set for himself, one is the issues of corruption, the President has bastardized and corrupted the fight against corruption, he failed to live above board. Look at key members of the cabinet who are working with him, who are in his government and has been indicted in clear cases of corruption, are not touched by the President,

that shows you that there’s a weakness Mr President has and this weakness is inability to do the right thing because if he has that strength then there’s no reason why the former SGF who has been alleged to stealing IDP money should not have been prosecuted, there’s no reason why Adeosun should be out of the country, why didn’t he place travel ban on her.

Key members of the PDP that the APC use to accuse of cases of corruption who have now decamped to APC, nobody is hearing any allegations. People like Akpabio, rather they visit the President in London and they get baptized”.

“Secondly is the issue of economy which is the second major plan, I don’t need to tell anybody that the Brooklyn institute and other international agencies has declared Nigeria the poverty capital of the world, which shows that whatever President Buhari has been doing in the last three years is nonsense and not working, because if it’s working, the economy would have improved and this country wouldn’t have been the poverty capital of the world. By the things he said, by his actions, by his dullness in acting to situations that requires prompt attention he destroyed the economy”.

People’s Democratic Party (PDP) chairmanship candidate in the recent Local Government election for Langtang North council of Plateau State, Ubandoma Joshua Laven has alleged that he is the winner of in the election which was declared in favour of the candidate of the All Progressive Congress (APC), Nanloh Amos Kparnim, vowing to do everything within the ambit of the law to recover his ‘stolen mandate’.

Laven lamented that the mandate given to him by the good people of Langtang North was brazenly subverted as the Kparnim was declared winner

of the election by the Plateau State Independent Electoral Commission (PLASIEC).

According to him, this development is totally unacceptable and a complete rape on democracy and its processes assuring his supporters that he will go to the tribunal to seek redress for the injustice done to him.

In a press statement he signed, Laven argued that it is regrettable that governor Simon Lalong who is a direct beneficiary of a free and fair democratic process in 2015 decided to ignore the court injunction of the Jos Federal High Court, restraining him from swearing-in the loser, but engaged himself in an ambiguous adventure.

He added that, “To us, this is abuse of office with impunity by the governor. I want to use this medium to urge my people not to become unruly as a result of the declaration of the loser as winner. It will be pitching brothers against brothers or families against families. Let us not give the enemy the opportunity to divide us; as Tarok, we are peace-loving.”

“Plateau is already suffering from unprecedented security challenges. So, anything that will aggravate this present situation is not welcome. Let’s all remain peaceful and await the final decision arbiter, the judiciary.”

He alleged that the PDP won in 17 out of the18 wards in the

Local Government while the APC won in only one, adding that it was at the final collation at the LG headquarters that the PLASIEC Returning Officers disappeared and were not on ground to collate and announce the final results, thus leading to what was earlier announced as inconclusive by PLASIEC. He said, “To me, I consider this development as an electoral collusion announcing a process as inconclusive and in less than 96 hours, come up with announcement of a winner in the same inconclusive election.

This development has created serious concerns on our moral conscience and the survival of our democracy.”

Recent Party Primaries Lowers Nigeria’s Democracy, Says Dogara Nseobong Okon-Ekong The just concluded primary elections by political parties ahead of the 2019 general elections in the country does not in any way show that Nigeria’s democracy is advancing, Speaker of the House of Representatives, Hon. Yakubu Dogara, has said.

Delivering a goodwill message at the public presentation of the book; “Intrinsic and Extrinsic Aids to the Interpretation of the Constitution, Statutes and Private Documents” authored

by Hon Justice R. N. Ukeje in Abuja, Rt. Hon Dogara, argued that democracy is all about adherence to rule of law and due process.

“If you look at it very well you begin to wonder judging from different primaries conducted by political party as to whether we are making progress in the advancement of our democracy,” he queried.

“Democracy is all about laws, it’s all about due process, about the rule of law. Therefore, the deeper your laws, the deeper

your democracy. We can deepen our laws by deepening the interpretation of these laws to make them applicable to situations that may arise after the laws have been written. There are no better ways to deepen our democracy.

While commending Hon Justice Ukeje who came out of retirement to write the book, the Speaker noted that, “there is a yawning gap in this area of law, and thankfully she has decided in make a concerned effort at plugging this gap. The issue of

interpretation of statues including the constitution is absolutely important in the advancement of our democracy.”

He said the book is a noble effort by the former chief judge of the federal high court because in all cases the Judges who interpret “these laws would not have sat in the hollowed chambers of parliament, so they are not there in the contemplation of when these laws are made, and therefore they are not there when these laws are crafted. But then they must interpret them.”

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FEATURES

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

Boosting the Potentials of Tourism in Warri Ojo Maduekwe writes that with the recent resumption of dredging of the Escravos channel towards reopening the Warri Port, the fortunes of the oil-rich city is bound to change for good, especially as it opens up the city more to tourism

Abraka Turf and Country Club, one of the many tourist attractions in Warri

E

very port city – from Le Havre in France, to Santos in Brazil; Shanghai in China; Perth in Australia; and Tema in Ghana – is a growth pole of some sorts, impacting its surrounding towns and villages in trade, commerce, tourism and real estate. The reason is obvious: as ships dock in the cities’ harbours offloading and loading merchandise, they seek attention from various husbandmen including but not limited to: port agents, ship managers, cargo inspectors, marine surveyors, third party logistics providers, notary publics, chandlers, customs, port authorities, loss adjusters and stevedores.

This complement of port professionals constitute a chunk of sojourners in port cities while their day-to-day professional activities further stimulate myriads of other support businesses including bunker supply, warehousing, hotels, clubs, recreational parks and entertainment centres, ship spares markets, shopping malls, engineering workshops, equipment leasing companies, bureau de changes, restaurants, and hospitals to attend to ailing crew members. With these direct and indirect businesses servicing ships that patronise port cities, the cities become a beehive of activities catalysing development of their immediate surroundings and hinterlands.

In the Past The foregoing description is a close shot of what Warri as the chief port city of the Delta Ports used to be up until the early 2000s. The nationalisation and upgrading of the Old Warri Port to international standard for deep sea ocean-going vessels by the federal government following its acquisition from Holts Transport in December 1969, shot Warri towninto prominence as a business and commercial hub of the Niger Delta.

Warri Port, which ranked amongst Nigeria’s second generation ports in the early 1970s handled millions of tons of post-war reconstruction cargoes which government ab initio ordered through the port of Lagos but which were subsequently diverted to Warri in order to ease off the protracted congestionof the Lagos Port which had exceeded its cargo handling capacity.

Warri’s fortunes as a port city was further boosted in 1979, when government added the New Warri Port as part of third generation portsestablished to cope with cargo influx for the fast-growing economy engendered by the oil boom of the 1970s. With the Warri Refinery having been established a year earlier and already servicing tanker vessels, Warri then was a bustling port city that attracted young, ambitious professionals andbusinessmen and women.

But in a twist of fate, Warri’s fortunes began to dip with abandonment of its ports by vessels in droves by the turn of the millennium. The once

vibrant international ship traffic was replaced with lighter crafts like workboats, fishing trawlers, offshore supply vessels and coastal tankers which ply Nigeria’s coastal and inland waterways.

With the benefit of hindsight, the cause of Warri Ports’ abandonment by merchant ships is not unconnected with the abdication of capital and maintenance dredging of the Ports’ channel and harbour, served by the Escravos River which was reportedly last dredged in 1997. Hence for more than two decades, the Escravos Channel has remained shallow with accumulated silt while its breakwater is damaged, making it impossible for large-tonnagedships to cross the breakwater to the port via the channel.

It goes without saying that, without ships in its two ports to attend to, Warri town became bereft of ship husbandry and allied professionals, and this impacted negatively on the development of the city that is reputed to be the 12th most populous in Nigeria according to the 2006 national census, which put Warri’s population at 557,398.

Boost for Tourist Attractions But recently, there is reason to rejoice. The fortunes of the oil-rich city is about to change for good. This is because the fortunes of Warri as being projected, is bound to rub off well on tourism in the oil-rich city. Tourist attraction sites like The Palace of the Olu of Warri, The Warri Kingdom

The fortunes of Warri as being projected, is bound to rub off well on tourism in the oil-rich city. Tourist attraction sites like The Palace of the Olu of Warri, The Warri Kingdom Royal Cemetery, Chief Nana's Palace, Effurun Garden Park, The Red Mangrove Swamp, Abraka Turf and Country Club, Gordon's River Resort, Delta Shopping Mall, Uwie Modern Market, Gold Tulip Hotels, and the Warri Township Stadium, besides.... other hospitality spots, will receive great boosts with increased shipping activities

Photo credit: Google

Dredging, one of the ways to open up Warri more to tourism

Royal Cemetery, Chief Nana's Palace, Effurun Garden Park, The Red Mangrove Swamp, Abraka Turf and Country Club, Gordon's River Resort, Delta Shopping Mall, Uwie Modern Market, Gold Tulip Hotels, and the Warri Township Stadium, besides the numerous restaurants and bars and other hospitality spots, will receive great boosts with increased shipping activities.

This fresh hope came from the news that the NigerianPorts Authority has engaged the services of world-class dredging company, Dredging International Services Nigeria Ltd. (DISN), to resume dredging of the Escravos Channel towards reopening the Warri Port to international ship traffic to restore its lost fortunes and missed opportunities.

That DISN was able to secure this important waterway rehabilitation project is indeed a testament to its imprint as a global marine and waterway solutions expert. DISN has consistently and successfully delivered turn-key port and marine construction projects for select clients in Nigeria, amongst whom are the Nigerian Ports Authority, Nigeria LNG Ltd, Rivers State Government, , and the Dangote Group.

With this level of technical expertise deployed in handling the dredging works, the Escravos Channel will soon be accessible to ships of all sizes to navigate not just the Warri Port, but other Delta Ports which the Escravos Channel serves.

Potentials It is worthy of note that the potentials for development which Warri as a port city currently holds by breathing life into the Old and New Warri Ports through dredgingof the Escravos far surpasses what they held in decades past. Firstly, with Nigeria’s population growth rate put at 2.6 percent per annum, Warri’s approximately

560,000 citizens in 2006 could today be anything between 750,000 and 800,000. For an oil rich port city, this is still a manageable population that can be gainfully engaged in all facets of port and shipping activities as earlier enumerated when international traffic resumes at the ports.

It is expected that the migration of youth from Warri due to the ports’ misfortune will not only be halted but reversed.

Secondly, as the era of modular refining of crude oil and gas gradually dawns, Warri with its numerousadjacent creeks being strategically positioned by government for siting of the refineries will be requiringthe services of more tankers which will have to navigate the Escravos channel and its tributaries to the refineries. The easier it is to navigate to and fro these refineries when they come on stream, the more productive and efficient they will be, and the more their contribution to the local Warri economy and the national economy at large. Dredging is the only key that can unlock access to the modular refineries.

Thirdly, having earlier established how port cities attract people, Warri is set to further witness increase in real estate development when its ports become open to international traffic after dredging of the Escravos Channel.

Although there are presently no less than six public and private housing estates in Warri, real estate development is bound to grow beyond Warri centralinto surrounding towns of Effurun, Agbarho, Ughelli,Oghara, and Sapele amongst others.

All these portend a revival of the oil-rich city to become and even surpass what it was in the past, especially in terms of tourism, boosting the finances of the host community and in turn the nation at large.

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Inspiring the Next Generation Dedicated to using the power of literacy to transform education across the continent, Peace Obi writes on the move by UBA Foundation to inspire the next generation

O

n a certain Wednesday in September 2011, the United Bank for Africa (UBA), one of Africa’s largest private financial institutions, through its corporate social responsibility arm, UBA Foundation, launched a national essay competition for secondary schools in Nigeria at its head office in Marina, Lagos.

The idea behind the competition was simple.

According to the then MD/CEO of UBA Foundation, Ms Ijeoma Aso, the essay competition was to avail students in senior secondary schools in Nigeria the opportunity to win prize monies in the form of educational grants. Aso, at the press conference seven years ago, had explained that the competition, which was coming on the heels of the foundation's 'Read Africa' initiative, was conceived to promote creative thinking and the development of intellect among Nigerian students.

"We see it as a natural step to the 'Read Africa' project where we gave out books to schools in Nigeria and Africa. This will test their intelligence and ability to think creatively.

Winners shall enjoy educational grants to cover their tuition fees in Nigerian universities and will be enrolled in our UBA Scholar's programme", she had explained then.

Past Winners

L-R: Group Head, Global Financial Institutions, Mr. Franklin Erebor; Chief Executive OďŹƒcer, UBA Foundation, Mrs. Bola Atta; Group Head, Energy Bank, Mr. Ebele Ogbue and Group Head, External Communications, Mr. Ramon Nasir, anked by students from various schools in Lagos during the Launch of 2018, UBA Foundation National Essay Competition held at the UBA House in Lagos‌recently

Indeed, seven years later, the competition has lived up to expectations with past winners going on to excel academically in their respective chosen fields. As at the 2016 edition, over 96 students had emerged winners and were currently studying in different African universities.

Orji Somtochukwu Phillipa was a 14-year-old student of Dorothy International School when she took part in the National Essay competition in 2011 and emerged first runner-up. In 2016, she was a third-year student of Medicine and Surgery at Abia State University.

Vivian Nneka Nwajiaku, at the same time, was in her third year as a Law student at the University of Lagos, under the sponsorship of UBA Foundation. She finished her secondary school education from Queen's College, Yaba, Lagos, where she took part in the maiden edition of the foundation's national essay competition at the age of 14 and was the second runner-up.

Also, Ugwuegbulam Ikenna Ogbonna was a student of International School University of Lagos and was 15 years old when he participated and won the 2012 National Essay competition.

He went on to become a student of Electrical and Electronics Engineering at the University of Lagos.

Also in the list of beneficiaries of the UBA Foundation’s Education Intervention Scheme L-R: Group Head, Global Financial Institutions, Mr. Franklin Erebor; Chief Executive OďŹƒcer, UBA Foundation, Mrs. Bola Atta; Group Head, Energy Bank, Mr. Ebele is Fehintoluwa Fabelurin, who also went on to Ogbue and Group Head, External Communications, Mr. Ramon Nasir, anked by students from various schools in Lagos during the Launch of 2018, UBA Foundastudy Medicine and Surgery at the University of tion National Essay Competition held at the UBA House in Lagos‌recently Medical Sciences, Ondo. She was a 15-year-old Speaking to the students and participants the knowledge base, allow students to express Resources, Patricia Aderibigbe, motivated the student of Maverick College, Ibadan, when she at the event, Atta said, “We are well aware themselves and write creatively. We will continue students to focus on adapting themselves to won the 2014 edition of the competition. that if you help get one child educated, you to sustain the initiative because education is happenings in their generation, and to have a Upping the Ante help support an entire family as that child will very important to UBA and we are more than growth mind-set. This, she explained, will ensure This October, UBA Foundation, announced eventually positively impact his/her community. committed to providing the necessary support that they can apply themselves and conquer the commencement of the 2018 edition with a The competition is a key aspect of our investment for students in Nigeria and throughout the whatever challenges they are faced with. call for entries and upped the ante by increasing drive in human capital, as we seek to improve African continent."

Expanding Frontiers the prize monies to be won, underlining the Expectations It is important to note that apart from Nigeria, message that education was a top priority for Entries received from students for the competi- the national essay competition has been taken the foundation. tion will be reviewed by a distinguished panel to other African countries including Ghana and Speaking at the media launch to announce the of judges made up of professors from reputable Senegal as well as Mozambique and Kenya. call for entries, held at the bank's headquarters’ Nigerian universities, who will then shortlist The initiative, according to the foundation, in Lagos on Monday, October 8, 2018, the Chief 12 best essays for further assessment. will spread to more African countries in the Executive Officer of UBA Foundation, Mrs. Bola Following this, a second round of the competi- near future.

Atta, said the essay competition provides an tion will involve the 12 finalists who will write As the CSR platform for the UBA Group, opportunity for students in secondary schools a second supervised essay from which three UBA Foundation embodies the group's CSR across the country to put in their entries and to best essays will be selected. Three best essays objectives and seeks to impact positively on win prizes in the form of educational grants to will be selected as the overall winners from 12 societies through a number of laudable projects study in any universities based in Africa. This finalists that will emerge from the first round and initiatives, a statement from the foundation prize, according to her, will encourage them to of the competition. has said. strive towards their goals in life.

Atta explained that the choice of the essay for Apart from the essay competition, each year According to Atta, the first prize for the UBA this year’s competition is one that helps promote the bank also donates thousands of books to National Essay Competition is a N2 million creative and analytical thinking in students and students in Nigeria and across Africa, under educational grant for the winner to study in helps them to be problem solvers. This year, the ‘Read Africa’ initiative to encourage and any African university of his or her choice, a the topic is ‘What is the biggest environmental promote the reading culture in secondary schools.

100 per cent increase from N1m which was issue you think your generation will face? How “We are driven by the mantra to do well and awarded last year, while the second and third can it be avoided and how can it be solved?’ do good and we will not relent in our efforts prizes have increased to N1.5 million and N1m Also speaking at the call to entries event for at touching lives through our various projects, educational grants respectively; up from N750,000 the 2018 edition, UBA’s Group Head of Human and initiatives,� Atta said. and N500,000 previously obtained.

The competition is a key aspect of our investment drive in human capital, as we seek to improve the knowledge base, allow students to express themselves and write creatively

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STATEMENT OF FINANCIAL POSITION AS AT 30 SEPTEMBER 2018

www.cbn.gov.ng

TENDER NOTICE CENTRAL BANK OF NIGERIA ON BEHALF OF DMO OFFERS NIGERIAN TREASURY BILLS Notice is hereby given by the Central Bank of Nigeria on behalf of DMO that the Federal Government of Nigeria Treasury Bills of 91, 182 and 364-day tenors amounting to N9,541,924,000 N47,709,615,000 and N88,037,883,000, respectively would be issued by Dutch auction on Thursday, November 01, 2018.

All Money Market Dealers should submit bids through the CBN S4 WEB INTERFACE between 9.00 a.m. and 11.00 a.m. on Wednesday, October 31, 2018.

Each bid must be in multiple of N1, 000 subject to a minimum of N50, 001, 000.

Authorized Money Market Dealers are allowed to submit multiple bids. A bid may be for authorized Money Market Dealers own account, Non – Money Market Dealers or interested members of the public. The result of the auction would be announced by 11.30 a.m. on Wednesday, October 31, 2018. The Bank reserves the right to reject any bid.

Allotment letters would be issued for successful bids on Thursday, November 01, 2018, while payment for the successful bids should be made to your account with Central Bank of Nigeria not later than 11.00 a.m. on Thursday, November 01, 2018.

31 December 2017 N'000

30 September 2018 N'000 Assets Non-current assets Property, plant and equipment Intangible assets Investment property Investment in subsidiaries Debt and equity securities Deferred tax Prepaid lease rental

Current assets Inventories Trade and other receivables Prepaid lease rental Cash and cash equivalents Total assets Liabilities Current liabilities Trade and other payables Current income tax liabilities Borrowings (short term) Advance deposits

Non-current liabilities Borrowings (long term) Deposit for shares Deferred taxation liabilities Total liabilities

Group

30 September 2018 N'000

31 December 2017 N'000

Company

150,345,829 39,496,774 1,706,600 4,054,315 3,348,918 17,251 198,969,687

141,835,592 39,517,340 1,706,600 4,971,353 3,348,918 53,010 191,432,813

24,166 5,075,818 1,706,600 27,529,887 4,054,315 38,390,786

18,338 5,075,818 1,706,600 27,529,887 4,971,353 39,301,996

4,638,859 88,459,371 30,000 6,513,876 99,642,106 298,611,793

4,646,609 83,827,859 16,741 5,598,282 94,089,491 285,522,304

24,905,839 989,644 25,895,483 64,286,269

23,460,800 339,974 23,800,774 63,102,770

73,820,792 1,804,987 26,264,827 1,875,000 103,765,606

64,846,974 1,424,147 36,509,388 1,875,000 104,655,509

848,891 40,578 9,989,952 1,875,000 12,754,421

3,702,299 225,015 10,223,020 1,875,000 16,025,334

75,336,571 2,410,000 7,159,053 84,905,624 188,671,230

75,589,945 2,410,000 7,159,053 85,158,998 189,814,507

14,361,420 14,361,420 27,115,841

11,470,290 11,470,290 27,495,624

20,323,996 6,249,871 1,860,743 38,211,318

20,323,996 6,249,871 2,777,781 31,961,979

20,323,996 6,249,871 1,972,423 8,624,138

20,323,996 6,249,871 2,889,461 6,143,818

66,645,928 43,294,635 109,940,563 298,611,793

61,313,627 34,394,170 95,707,797 285,522,304

37,170,428 37,170,428 64,286,269

35,607,146 35,607,146 63,102,770

Equity

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Ordinary share capital Share premium Other reserves Retained earnings Equity attributable to: Owners of the parent Non controlling interest Total equity Net equity and liabilities

…………………………………

…………………………………

Mutiu Bakare Group Chief Finance Officer FRC/2016/ICAN/00000014111

Adim Jibunoh President/CEO FRC/2014/IODN/00000008267

STATEMENT OF COMPREHENSIVE INCOME FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2018 30 September 2017 N'000

30 September 2018 N'000

Group

30 September 2018 N'000

30 September 2017 N'000

Company

79,860,754 (42,900,544) 36,960,210 (11,557,231) 542,051 (15,512) 25,929,518

56,756,794 (31,134,574) 25,622,220 (9,395,404) 582,737 505 16,810,058

6,642,684 6,642,684 (2,034,038) 904,277 5,512,923

3,433,061 3,433,061 (1,358,360) 864,381 477 2,939,559

Finance income Finance cost Foreign exchange loss on financing activities Net finance cost

901,057 (7,492,158) (1,621,374) (8,212,475)

577,692 (7,196,178) (1,149,339) (7,767,825)

839,925 (2,395,300) (1,555,375)

1,088,607 (2,233,583) (1,144,976)

Profit before taxation Taxation

17,717,043 (1,754,279)

9,042,233 (857,001)

3,957,548 (664,268)

1,794,583 (343,306)

Profit for the period Profit attributable to: Owners of the parent Non controlling interest

15,962,764

8,185,232

3,293,280

1,451,277

7,062,299 8,900,465 15,962,764

3,275,810 4,909,422 8,185,232

3,293,280 3,293,280

1,451,277 1,451,277

(917,038)

1,997,790

(917,038)

1,997,790

6,145,261 8,900,465

5,273,600 4,909,422

2,376,242 -

3,449,067 -

17.37 17.37

8.06 8.06

8.10 8.10

3.57 3.57

Revenue Cost of sales Gross profit Administrative expenses Other income Other gains - Net Operating profit

Other comprehensive income Changes in the fair value of available for sale (Equity securities) Total Comprehensive income for the period $WWULEXWDEOH WR Owners of the parent Non controlling interest Basic Earnings Per Share (kobo) Diluted Earnings Per Share (kobo)

The Board of Directors is confident that, barring unforeseen circumstances, this trend would be improved upon considerably in the remaining period of the financial year.

Dated this 22 October 2018

By Order of the Board

………………………………… Helen Iwuchukwu Company Secretary FRC/2015/NBA/00000012716

www.transcorpnigeria.com

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BUSINESSWORLD R A T E S MONEY MARKET OBB OVERNIGHT

A S

A T

REPO 13.33 % 12.67%

CALL 1-MONTH 3-MONTH

12.50% 13.50% 13.58%

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

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

1 9 , 2 0 1 8

350.58% 0.01% ͎˛͡ͲϹ

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

͎˛͡ͲϹ ʹ˛ͲͯϹ

EXCHANGE RATE N306.50/1US DOLLAR* *AS AT LAST FRIDAY

Quick Takes Osinbanjo to Open Risk Mgt Confab

FACILITY TOUR

L-R: Managing Director, Degecone, Biodun Adesanya; Group Managing Director/CEO, Polaris Bank Limited, Adetokunbo Abiru; Executive Consultant, Operations, Pan Ocean Oil Corporation Nigeria Limited, Amieyeofori Felix; Chief Finance Officer, Pan Ocean Oil Corporation, Seyi Oladapo and Group Head Corporate Banking, Polaris Bank, Tutu Alu, during a faciity tour in Delta State...recently

Analysts Harp on Structural Reforms for Sustainable Growth Goddy Egene The federal government has been urged to implement structural reforms in order to build a strong and sustainable foundation for economic growth.

In a special report titled: “An Economic Agenda for a New Government,� Afrinvest (W.A) Limited, a leading investment banking group, said double-digit growth, which is required for sustained employment creation and poverty eradication would be impossible if critical reforms are not initiated. “We reiterate the need for wide scale infrastructure

ECONOMY deployment but also affirm that substantial and sustained improvements to the quality of human capital – through investments in education and health – is required to effectively utilise physical capital and achieve strong economic performance,� they said.

Speaking on sector-specific strategies, Afrinvest said tariff and non-tariff barriers to trade must be removed to boost competitiveness. “Nigeria is on the lower rung of the ladder of trade and investment in Africa, despite

bright growth prospects due to its attractive demographics.

To be certain, this has persisted for an extended period, and it is a sign of the lack of strong will to turn the tide. “Academic literature and historical evidence have demonstrated that trade and investment are necessary to create jobs, raise incomes, upgrade domestic supply chains for efficiency and effectiveness, develop expertise, and make cheaper goods and services available. These are all important for advancing human development. “ To fully participate in this ecosystem of trade and investment, there is a need

for competitiveness. This entails having good infrastructure and institutions that enable strong business growth – indeed, countries which have made rapid advancements in trade and investment have demonstrated gains in this regard. Nigeria is not competitive, and the World Competitiveness Index asserts this by ranking Nigeria 125th of 137 countries. “The index measures basic requirements such as institutions, infrastructure, macroeconomic environment and health & primary education, as well as select efficiency enhancers such as Continued on page 24

Uncompromising Position of Stakeholders Stalling Nigeria’s Decision on AfCFTA Chris Uba The uncompromising position of some stakeholders in the Nigerian economy on the African Continental Free Trade Area (AfCFTA) agreement may be the reason the Presidency is yet to take a decision on the issue even after consultations with the stakeholders, findings

by THISDAY have shown.

Whereas a section of the country’s organised private sector (OPS) is opposed to Nigeria signing the treaty until some conditions are fulfilled, others have urged the federal government to go ahead and sign the agreement, arguing that it harmonises with the economic interest of the country.

The AfCFTA was designed to create one of the largest free trade areas in the world by

ECONOMY introducing a single continental market for goods and services as well as a customs union with free movement of capital and business travelers within the continent of Africa.

Analysts believe that this agreement would potentially give birth to the world’s largest free trade area since the World Trade Organisation (WTO) which was formed in 1995, in terms of the number of countries, covering more than 1.2 billion people and about $4 trillion in combined consumer and business spending if all 55 countries in Africa join the agreement.

The African Union agreed in January 2012 to develop the AfCFTA and it took eight rounds of negotiations, be-

ginning in 2015 and lasting until December 2017, to reach agreement. Nigeria played a leading role from start to the end of the Negotiation.

But AfCFTA has generated diverse reactions from the Nigerian organised private sector (OPS) and the labour unions, since March 22, 2018, when the historic agreement was signed by 44 African countries in Rwandan capital, Kigali.

Nigeria and South Africa, the largest two economies in Africa have yet to sign the trade agreement as the two countries believe that the economic and security implications of signing the deal must be further discussed by widening consultations among key domestic players.

The main contention for Nigeria’s declining the sign-

ing of the AfCFTA Treaty is stakeholders’ fear of numerous bilateral trade agreements of some African Union (AU) countries with the rest of the world and Nigeria’s underdeveloped industrial and infrastructural profile, which some stakeholders argued that “this Agreement will potentially make Nigeria a dumping ground due to our uncompetitive manufacturing sector, large market size and population.�

Following a false start on the consultation process of the trade agreement, therefore, Nigeria’s involvement in AfCFTA was temporarily set aside to enable broader consultation with relevant stakeholders of the nation’s economy as efforts are ongoing to engage Continued on page 24

The Vice President, Prof Yemi Osinbajo is one of the dignitaries that will ag o the 2018 National Risk Management Conference organised by the Risk Management Society of Nigeria(RIMSONS).

The two-day conference has as its theme: “Risk Management and Nation-building:TransformingNationalChallengestoOpportunities.�

AccordingtoastatementbyRIMSON’sspokesperson,JosephObah, the conference scheduled for October 31st and November 1st, 2018, willbea convergenceofriskmanagersacrossthedierentfacetsof the national economy. The risk management practitioners to attend theconferenceincluderiskmanagementprofessionalsingovernment agencies and parastatals, the oil & gas sector, insurance, banking & ďŹ nance, agriculture, manufacturing sector, telecoms sector, State and national disaster management agencies as well as pension and health management organisations amongst others.

The statement quoted RISON President , Jacob Adeosun as saying that the choice of VP as the special guest of honour at the conference explains the national importance of this year’s edition of the conference. “The conference is part of RIMSON’s contribution to nation building, especially in the clarion call for the enthronement of risk management awareness and culture in national planning and development,� he said.

Insurance Consumers’ Forum Holds Nov.16

Almond Productions Limited, promoters of the Annual Insurance Consumers’ forum (ICF) said this year’s edition of the event will hold on November 16, 2018 in Alausa Ikeja, Lagos.

Thisyear’seditionoftheforum,hasthetheme:“RelievingCustomers Pain Points in Insurance through Exceptional Service Delivery.�

According to the Chief Executive OďŹƒcer of Almond Productions, Faith Ughwode, the forum, which started in 2013, provides a robust platform for interaction between insurers and the insuring public in a no-holds-barred atmosphere, on issues that bothers on excellent customer service delivery. She said following the success of the previous editions, the stage is now set for the 2018 edition.

She said the forum this year will be chaired by Dr. Justus Clinton Uranta, former Group Managing Director Niger Insurance Plc, while Chief Chris Uwadiegwu Obi, former Manager in Charge of Training, Personnel and Human Resources Exxon Mobil Nigeria and now Managing Director Blue Pearl Konsult Limited will be the guest speaker. Managing Director Guinea Insurance Plc, Mr.Tunde Oshadiya, is also one of the resource persons at the forum.

She listed topics to be discussed at the forum as “what part of insurance transaction do customers experience the most pain or stress?Whatkindofproductsdoyouwantfrominsurancecompanies and at what price? “On digital insurance: what social media platform willyoubuyinsurancefrom?Whatdoyouwantinsurancecompanies to do dierently to interest you as a customer?

AfDBBossBagsHonoraryDoctorateDegree

The Afe Babalola University, Ado-Ekiti, has conferred a Doctor of Letters,HonorisCausaonthePresidentoftheAfricanDevelopment Bank,AkinwumiAdesinainrecognitionofhisimmensecontributions to socio-economic development on the continent.

John Olachy Momoh, Chairman of Channels Media Group, Nigeria’s multiaward-winningtelevisionstationalsoreceivedanHonorisCausa at the 6th Convocation ceremony of the University held on Sunday 21 October 2018 at the University Campus in Ado Ekiti. “The honorary recipients are Nigerian ambassadors who have conquered the world due to the quality and functional education they received,� Aare Afe Babalola, Founder of the University said. “They were chosen on the basis of their distinguished reputations, outstandingachievements,exemplaryleadershipandextraordinary contributions to humanity. This is the highest honour an academic institution can give and today, they are richly-deserved,� he added.

In his acceptance address, Adesina lauded the Institution as an epitome of academic excellence commended its high standards ofdiscipline.Tothegraduatingstudents,�investyourtimeandenergy in making the right decisions.

“We are determined to break away from the past practice of committing Nigeria to treaties without a definite implementation plan to actualise the expected benefit while mitigating the risks.

We cannot go back to the days of signing agreements without understanding and planning for the consequences of such actions and our country

President Muhammadu Buhari

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ANALYSTS HARP ON STRUCTURAL REFORMS FOR SUSTAINABLE GROWTH innovation and sophistication,� it said.

According to Afrinvest, Nigeria has massive infrastructure gap which has continued to widen. It noted that in power and telecommunications, there is modest participation by the private sector, with the government acting as regulator. “The hand of the regulator weighs heavily on expansion in this market, especially given price controls. Yet, without private sector partnerships, government lacks the capability to adequately fund the infrastructure gap. Public Private Partnerships (PPPs) have been recommended as a tested and worthy method to close the infrastructure gap, particularly in road infrastructure. “The benefits of PPPs in the provision of effective and efficient project management and infrastructure maintenance are well documented. The projects are usually self-financing as users access the service after paying a fee, and government only parts with a small amount,� it said.

UNCOMPROMISING POSITION OF STAKEHOLDERS STALLING NIGERIA’S DECISION ON AFCFTA stakeholders in a consistent and iterative manner to enable informed decision prior to the expiration of the 6-month probationary window for reentry to the agreement.

The National President of the Nigerian Labour Congress (NLC), Mr. Ayuba Wabba said the organised labour is opposed to AfCFTA and does not want Nigeria to sign the agreement.

But, the National President of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Mrs. Alaba Lawson stated that: “NACCIMA has always supported and we are still in support of Nigeria signing the AfCFTA designed essentially to establish a single Market for Trade in Goods and Services in Africa and improve intra African Trade.�

Group Business Editor

USADF Invests $24m to Boost Local Enterprises, Farming Chineme Okafor in Abuja The United States African Development Foundation (USADF) has invested $24 million in grants to various multipurpose cooperative societies in Nigeria to boost local enterprises and rural farming.

Speaking to journalists on the sidelines of a conference and mini-agriculture fair in Abuja, the Executive Director of Diamond Development Initiatives (DDI) and implementing partner for USADF projects, Mr Adamu Garba, explained that the funding was mainly to boost the productivity of the beneficiary cooperative societies. “USADF has invested over $24 million in these cooperatives societies over the years.

They are still working in Nigeria and we look forward to getting more assistance from them,�

Garba said.

He said the purpose of fair was to showcase the agricultural products from the cooperative societies all around Nigeria whose projects were funded

by USADF and managed by DDI. According to him, DDI provides further support to the cooperatives especially the farmers on commodity packaging and market entry.

On ensuring food security, Garba added: “If we make concerted efforts in improving agriculture and backing our words with action production will increase.�

Garba, also said over 450,000 people have so far benefited

from the USADF projects in Africa from which 60 per cent are women. He added that about 70 per cent of USADF programmes in Nigeria have been for developing the agriculture value chain to create impact in improving the livelihood of the rural people. “I know Danladi Sidi, a rice farmer in Kano state whose yield has tripled because he has adopted improved agronomy practices and followed the technical assistance that has been provided,� Garba noted.

Similarly, the United States Ambassador to Nigeria, Mr Stuart Symington lauded the interventions and the local farmers who are improving lives saying: “It is a great honour of my time, of my life in Nigeria to hear of that transformation work that you are doing so much.�

In his remarks, President of USADF, Mr. C.D. Glin, who lauded DDI, the rural entrepreneurs and farmers in Nigeria and other stakeholders in the development project,

in Africa because the success of Africa is important to it.

According to Leslie: “I know we are seen as helping you to do the things that you do in the communities but your success is our success; your success is very important to the US.�

The fair showcased leather works from Zaria, Garri from Ikara in Kaduna State; improved local rice from Kebbi State; refined palm oil, fish feeds among others that that had value added to them including branding and packaging.

said the organisation has worked in key parts of Nigeria including Kano, Lagos and the Niger Delta.

Glin said: “Everything we do here is led by Nigerians.

We have commitment to Agriculture. We strongly believe that one of the key drivers for Africa’s success, for Nigeria’s success will be in the agricultural sector.�

Chairman, Board of Directors of USADF, Jack Leslie, equally said the United States was funding development projects

REWARDING LOYAL CUSTOMERS

L-R:ManagingDirector,IntercontinentalDistillersLimited(IDL),EngrPatrickAnegbe; Distributor/ManagingDirector,DivineChinoz,Aba, Mr.Solomon Umerah; Head of Sales, IDL, Hope Gbagi and Distributor/Managing Director, YTT Enterprises, Mrs. Yemisi Adewusi at IDL’s 2018 distributors award held in Abeokuta, Ogun State...recently

Nigeria’s Economy Still Susceptible to Shocks, NESG Warns James Emejo in Abuja The Chairman, Nigerian Economic Summit Group, Mr. Asue Ighodalo yesterday warned that despite some improvements in recent macroeconomic indices, the country remained vulnerable to economic, social and political shocks.

Speaking during his opening remarks at the opening of the 24th Nigerian Economic Summit in Abuja, he said the vulnerability were evident in the negative trends in several socio-economic indicators.

According to him, the latest jobs report from the National Bureau of Statistics (NBS) showed that the combined unemployment and underemployment rates rose from

35.2 per cent in Q4 2016 to 40 per cent by Q3 2017.

He said: “This implies that during the measurement period, over four million Nigerians either lost their jobs, entered into the labour market and remained unemployed or were employed at jobs that were inadequate to their economic needs.�

This was however, as Minister of National Planning, Senator Udoma Udo Udoma reassured the summit that the present administration has invested in, and continues to invest in, several initiatives to improve the quality of governance, improve transparency and reduce corruption.

He said: “We know we still need to do more – and we will continue to listen to suggestions.

“However, I can assure you that this is a Government that is committed to do whatever is necessary to move our people from ‘Poverty to Prosperity’. “To achieve this, we will continue to invest in our people.

We will continue with our social intervention and other programmes to ensure that no one is left behind. “We will continue to fight corruption so as to ensure that resources meant for the development of our people are not diverted for selfish purposes.�

Nevertheless, the NESG chairman said: “While it is important to acknowledge and commend the government for policy measures aimed at inclusion through providing for the

poorest in our population, it is difficult to ignore the continuing weakness of our institutional frameworks; migration of some of our brightest young talent; extremely poor productivity; extensive poverty and increasing threat to life and property. “These are the realities that define our environment.

These are the realities we must candidly address during this Summit.�

Ighodalo said the narrative must shift forcefully to inclusive growth and development which could only be achieved through good governance and strong institutions. “Efficient markets and macro-economic stability are essential for inclusive growth and development, but the

diverse dimensions of inclusive growth and development call for a broader capacity to deal with complex problems, strong levels of policy coherence and effective institutions.�

He said: “Every child from the age of five must be in school and they must be able to remain in school for as long and as far as their abilities propel them. “Those who teach our children must have the ability, capacity and moral integrity to impart the knowledge that allows the child to think, analyse and be curious. “We must enable an environment that encourages patient capital, capital which creates value enhancing jobs in all sectors, leveraging on technology.

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

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AgriBusiness/Industry Editor

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Comms/e-Business Editor

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

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

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

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Development Bank of Nigeria Joins SME Finance Forum The Development Bank of Nigeria (DBN) has become a member of the SME Finance Forum, a global membership network that brings together financial institutions, technology companies, and development finance institutions to share knowledge, spur innovation, and promote the growth of SMEs. Established by the G20 Global Partnership for Financial Inclusion (GPFI) in 2012, the SME

Finance Forum was set up as a knowledge center for data, research and best practice in promoting SME finance. As an implementing partner for the GPFI, the International Finance Corporation (IFC) was tasked with managing the initiative.

Accepting DBN into the Forum, Chief Executive Officer, SME Finance Forum, Matthew Gamser, said, “We are proud to have the Development Bank of Nigeria join our network of 140

members who work to expand access to finance for small and medium businesses. It has been discovered that 200 million businesses worldwide need financing to invest, grow and create new jobs.� “Founded in 2014, DBN focuses on alleviating financing constraints faced by MSMEs and small corporations in Nigeria through the provision of financing and partial

credit guarantees to eligible financial intermediaries, on a market-conforming and fully financially sustainable basis. “The bank supports inclusive growth and provides wholesale funding to fill identified enterprise financing gaps in the MSME sector. In 2017, the bank disbursed a total of N5bn to microfinance institutions for on-lending to over 20,000 MSMEs across the country�, Gamser noted.

Expressing delight over the announcement of DBN’s reception into the forum, the Managing Director/CEO, Development Bank of Nigeria, Mr. Tony Okpanachi, said, “We are excited to expand our knowledge of SME financing and believe participation in the SME Finance Forum member working groups will afford us with a plethora of networking and developmental opportunities.�

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NSE: Partnership Critical for DigitisingNigeria’s Economy Judith Obaze The Chief Executive Officer of the Nigerian Stock Exchange (NSE), Mr. Oscar Onyema has called for collaborative efforts across market players to fully domesticate relevant emerging technologies that will benefits Nigeria and make the country a competitive investment destination, despite challenges that come with digitisation.

Onyema made the call at the Market Data Workshop 2018 Conference, with a Theme: “Digitisation, Disruption and Financial Inclusion,� in Lagos.

According to him, over the past few years the finance industry in Nigeria has experienced a tremendous transformation caused by disruptive technologies making Nigerian customers accustom to digital experience offered by companies such Google, Amazon, and Facebook with the use of smart phone.

Onyema, said research has shown that Smartphone penetration in Nigeria-the percentage of adult owning a smart phone is estimated at 28 per cent, with 76 per cent of internet traffic

routed through mobile phone, while bank are adopting new technologies with customer-centric focus to make financial services more inclusive and to provide more superior customer experience in access and use of capital which is necessitated in response to the exponential growth in the use of smart phones by an exploding young population, He also said despite the slow adoption in Nigeria, mobile money user according to electronic fact sheet provided by Nigerian Interbank Settlement (NIS), reportedly grew from 2.3 million in 2017 to about 8.0 million as of June 2018, which indicate about 314 per cent growth in adoption in space of six months, adding that in the capital market ecosystem, digitisation is quite gaining momentum. Onyema said acknowledged that many financial companies are investing in emerging technologies such as artificial intelligence, cloud technology and distributed ledger technology, that are capable of potentially disrupting the capital market infrastructure because of the many benefits it affords to the users who are not profes-

sionals investors for transactions without the use of traditional intermediaries.

He added: “The NSE is strategically position for deep engagement market stakeholders and economic actors towards the implementation of game changing technologies that have the potentials of to catalyse growth in Nigerian capital market. Since the lunch of the NSE multi-access trading platform exchange in 2013, our market data product and services have transformed the reach of an access through to Nigerian capital market, indeed our economy.�

Speaking from the perspective of a regulator, the Acting Director General, Securities and Exchange Commission( SEC),Ms. Mary Uduk, said that government agencies like the commission and Central Bank of Nigeria (CBN), SEC and other sister regulatory bodies have made important contributions to the progress of financial inclusion through valuable guidance and active involvement in national financial strategy aimed at reducing adult exclusion from financial service to 20 per cent by 2020.

Royal Exchange Optimistic, Strategises for More Market Share we take full advantage of the position.�

Ebere Nwoji Insurance and financial services group, Royal Exchange Plc is looking into the future with great optimism, having positioned for increased market share that will offer its shareholders good returns on investment, even in the medium term.

Royal Exchange said it believes that taking advantage of growth initiatives available in the insurance industry while leveraging on technology will expand its revenue base and stronger bottom-line.

The Chairman, Royal Exchange Plc, Mr. Kenny Odogwu, who disclosed the firm’s future growth plans at the 49th annual general meeting (AGM) held in Lagos said: “Royal Exchange continues to stay abreast with many of the initiatives mentioned above in our quest to grow market share and attain market leadership

Odogwu, said the group was presently streamlining major components of her businesses, service delivery, processes and operations to deliver superior returns in the medium term to shareholders through a digital transformation process it embarked upon recently. “This we believe will reposition our great company as not only a major industry player but as a potential game changer. To sum it up, your board is confident about the future of our company irrespective of the current challenges besetting the company in the short term, � he stated.

On the company’s agricultural insurance initiatives, he said: “We are looking at ensuring our partnerships with government agencies, such as NIRSAL, as well as deepening our working relationships with relevant state governments and groups across the country to ensure

opportunities that arise in the agriculture space.� “Agriculture and retail insurance, we believe is the future of insurance and at Royal Exchange, we will continue to develop products and services to ensure that we remain relevant in this space. “Also speaking, Group Managing Director of the company Alhaji Auwalu Muktari, said the board and management has very high expectation for 2018. “We remain resolute to bring in our best to the table even though various analysts’ expectations for economic growth remain modest. The focus would be on achieving long-term sustainable growth for our company through the deepening of our revenue base, improving service delivery support systems and at same time keeping a lid on our group-wide costs.

ELEVATING TO THE NEXT LEVEL Marie-Therese Phido

The Power of YourWorkplace Culture I have had the privilege of working in organizations with what I would call fantastic cultures. For one of the organizations, what kept me working for them for several years was the culture. The culture was one that promoted excellence, had great people and systems. These systems worked, and transcended management teams.

The culture was embedded, it did not depend on who was in power.

I can assure you achieving this kind of culture is not easy.

Today, workplace culture and engagement seem to be at a definite ebb.

According to Lolly Daskal, “64 percent of employees in a recent study felt they didn’t have a strong work culture and 49 percent were not satisfied with their supervisor. This low engagement results in a 33 percent decrease in operating income and an 11 percent decrease in earnings growth, according to a report by TruPath. Many organizations are falling short in providing their staff what they need to succeed in the workplace.

Workplace culture may sound like a trendy concern, but don’t underestimate its importance. Culture sets the stage for success. It represents the things that bring people together as well as the things that distinguish them. It’s the culture of an organization that that is the strongest reflection of its shared values, whether they’re solidly pointed toward success or careering toward failure.

As a leader, you build organizational culture through your actions: Create it. Great leaders build and drive great cultures. They know it is their number one priority. They know they cannot delegate the task—they must create and lead a culture of greatness. Leadership begins with the process of creation.

Teach it. Too often, leaders don’t feel a need to keep their employees informed about what’s going on or show them how to succeed. Instead, they leave people to their own devices to figure it all out. If you want to have a successful culture, take the time to

AXA Mansard Partners Firm on Digital Payment Ebere Nwoji AXA Mansard Plc a member of the AXA Group has partnered a digital payment firm, Paystack to offer clients a platform that provides friendly digital payment system.

AXA Mansard, said through the partnership, subscribers would be able to make payments directly from the AXA Mansard website.

Paystack is a fast and simplest way to accept online payments in Nigeria.

It provides businesses with powerful growth tools in the form of a dashboard that helps them closely monitor and act on every aspect of their business performance, from granular transaction to detailed customer insights.

According to AXA Mansard’s Chief Digital Officer, Bayo Adesanya, the platform gives subscribers the opportunity of performing transactions from signup to receiving real payments in less than 15 minutes.

He said that subscribers would be able to make payment through automated route, which has been ascertained to be the most optimal channels that ensures the highest transaction success rates in the market. “As part of our ongoing commitment to innovation and increasing the payment options to clients, we are pleased to announce this partnership with Paystack Payment Solutions,�

Adesanya said.

He further noted that

“ a key way in which the company is delivering on this commitment is through the development of highly functional digital payment ecosystems that simplifies payments for both the subscriber and AXA Mansard.

The process of initiating and receiving payments is easy to set up, seamless and real time.

Subscribers would now be able to make payments directly from the AXA Mansard website. “Funds settlements are also straight forward and there have been little or no reconciliation issues for transactions originating from Paystack. There are also additional analytical features on the dashboard, giving us the opportunity to better understand our customers and their behaviours on our platforms.�

Regardless of what sort of culture you want for your company, there has to be an element of appreciation and recognition for others.

Recognition means people care about each other and are invested in each other’s success.

They recognise and appreciate diversity

provide instruction and illustrations.

Shape it. Cultures are constantly changing, and as a leader you must always be working to keep it in shape.

A culture of greatness doesn’t happen by accident. It comes about when a leader expects greatness and each person in the organization builds it, lives it, values it, reinforces it and fights for it.

Humanize it. People are at the center of every effective organizational culture. You can implement all kinds of processes and procedures, you can set up mental models and theory-driven systems, but at the end of the day if your culture isn’t humanized you’re missing the mark.

Support it. Cultures that thrive have the support of the organization’s leadership in addition to that of ambassadors throughout the organization who believe in what is being accomplished. No culture can succeed without widespread buy-in and support.

Trust it. If you trust your vision and direction and take ownership of them, others will trust and take responsibility themselves. When everyone holds themselves accountable, you have an organization based on trust—and trust is the cornerstone of any healthy culture.

Respect it. The undercurrent of any sound organizational culture must be one of respect. People who respect one another behave with courtesy and civility.

Live it. Too often leaders talk about what’s required for the team to be successful but fail to hold themselves to the same standard. Leaders who truly live their values can expect those values to spread into every level of the organization. The best company cultures are built on a set of core values that every leader and employee knows and lives out.

Appreciate it. Regardless of what sort of culture you want for your company, there has to be an element of appreciation and recognition for others. Recognition means people care about each other and are invested in each other ’s success.

They recognize and appreciate diversity.

Embrace it. Embrace your organization’s culture by engaging in behaviors that support it. Too often, leaders focus on what’s not going right, which creates more of the same. Instead of placing attention on what’s wrong, focus on what’s right.

Your organization’s culture is a reflection of its values. It is the voice of your business, and it takes you and each member of your team to ensure its success.

Lead from within: When you provide an environment in which people enjoy spending time, they will not only do their job but will outperform themselves every day.�

What kind of culture are you culture are you creating in your organization? Are you practicing all of the above, or you do not think culture is important? Are you destroying your culture? Building an enduring culture that will transcend time, is a task that all business owners running organizations must ensure they entrench. Don’t leave it to chance. Be deliberate about the kind of culture you want to build. .

Marie-Therese Phido is Sales & Market Strategist and Business Coach Email: mphido@elevato.com.ng

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Conoil Raises Shareholders’Hope With improved nine-month results, shareholders of Conoil Plc should expect better returns at the end of current financial year, writes Goddy Egene

One of the major reasons most companies stay away from listing on the Nigerian Stock Exchange (NSE) is the high disclosure requirements. Getting listed on the NSE has many benefits, which include raising of relatively cheaper funds. Also, listed companies enjoy high visibility through corporate exposure and many more.

Despite the benefits, many firms still prefer to remain private because they cannot cope with post-listing requirements, which include regular and timely disclosure of financial results and other information.

Another earning season is here where companies release their third quarter (Q3) and nine months results ended September 30, 2018. Conoil Plc was the first company to announce its results, a development that market analysts said was good for stakeholders in general and shareholders in particular. In the nine months results, the major petroleum products marketers reported growths in performance indicators and raised hopes for higher dividend at the end of the financial year.

Nine Months Financial Performance Conoil Plc the company recorded a revenue of N75.8 billion, up 8.0 per cent from N70.229 billion. Distribution expenses rose from N1.352 billion to N1.665 billion.

However, administrative expenses declined from N5.488 billion to N5.219 billion, while cost of finance reduced from N1.884 billion to N1.483 billion in 2018. Finance cost also fell from N1.883 billion to N1.483 billion.

Conoil ended the nine months with profit before tax(PBT) of N2.268 billion, up from N2.027 billion in 2017, while profit after tax improved from N1.358 billion to N1.587 billion.

A further analysis of the results showed that its efficiency, measured by profit margin improved compared to the previous period.

Gross margin stood at 2.9 per cent in 2018, up from 2.8 per cent in 2017, while net profit margin rose to 2.1 per cent compared with 1.9 per cent in 2017.

The company’s earnings per share increased from 196 kobo to 229 kobo, further raising the capacity of the company to increase dividend payment by the end of the 2018 financial year.

The performance has placed the company on a good stead to fulfilling its promise to build a stronger financial position and creating higher values for its shareholders.

Hope Rises for Higher Dividend The improved bottom-line and EPS are assurance of higher dividend payment at the end of the year. Conoil is a regular dividend payment firm. The company has paid N9.0674 billion as dividend for the past five years. Out of the N9.074 billion dividend, N1.4 billion was paid for the 2017 financial year.

The regular dividend payment has attracted commendations from shareholders of the company in recent times. For instance, at one of annual general meetings (AGM) held in Uyo, Akwa Ibom State, the shareholders hailed the board and management of the company for their prudent and efficient execution of projects and plans, strong commitment to the culture of financial discipline, while also ensuring maximum value for shareholders.

In his comments, Sir Sunny Nwosu of Independent Shareholders Association of Nigeria(ISAN), said Conoil Plc has continued to pay dividends to shareholders over the years, saying the shareholders would continue to support the board and management to ensure that it maintains it impressive performance going forward.

Similarly, Chief Timothy Adesiyan of Nigeria Shareholders’ Solidarity Association said: “The management and board of the company have not only performed excellently well but have also fulfilled their promise of maintaining consistent returns to shareholders.� “Given the tough operating environment characterised by tight liquidity, rising cost of funds and the inability of petroleum marketing companies to import fuel in the face of little or no supply from the domestic refineries, Conoil

still braved the odds, recorded profits and is able to pay dividend to its shareholders.�

Alhaji Kazeem Olayiwola of Alheri Shareholders’ Association, Kaduna, hailed the resilience of Conoil in the face of a tough operating environment. “Conoil has continually set standards in fuel retailing with world-class facilities and groundbreaking marketing initiatives that endear it to customers and place it far ahead of competition. I am therefore delighted that this has translated to good dividends to shareholders at a time like this, we sure do have a bright future,� he said.

Company Assures Shareholders The Chairman of Conoil Plc, Mike Adebuga(Jr) promised shareholders at its last annual general meeting, that conscious efforts would be directed at achieving better execution of value-added products and services to grow its business, while also assuring them that the company’s long-term future was guaranteed.

According to him, the company keeps expanding its retail network across the country and the non-fuel retail business is being revamped with a view to achieving future growth targets.

He noted that every segment of the business from aviation to LPG to specialized products would continue to receive the desired attention with a view to achieving and maintaining world-class levels of operating and capital discipline.

He declared that the company was fully charged to consolidate its competitiveness in the different segments of its business by exploring and developing emerging markets while holding its grounds in areas where it has competitive advantage.

The company said in 2018, it has maintained its policy of continual investment to boost efficiency has been paying off. “We have, for several years now, ensured that our strategy remained constant, proven and effective, which is designed to improve

returns and grow value for shareholders by focusing on our market strengths without jeopardizing the development of our diverse portfolios. We remain committed to further consolidate our competitiveness in the different segments of the downstream petroleum products marketing business with renewed commitment to explore and develop emerging markets while holding our grounds in areas where we have competitive advantage. “We recently introduced into the market yet another brand of quality engine oil manufactured specially for the mass market of car owners.

It is called Conoil Crown Heavy Duty Oil. By the introduction of this product, we have seized the initiative of filling a yawning void in the industry as a pragmatic marketer of first choice. We are excited about the instant acceptance that the new product has enjoyed in such a short time and are encouraged in our commitment to utilising available opportunities in the industry for the satisfaction of customers and the eventual benefit of shareholders.�

The added that it has continued to expand its retail network across the country, revamping its non-fuel retail business with a view to achieving future growth targets.

Conoil said:“We are sustaining investment in supply and distribution by beefing up our fleet of bulk road vehicles for seamless distribution of products, especially AGO, PMS and ATK. Our strategies for growth are promising. We have remained disciplined in our approach and continue to work harder more than ever before to deliver value to our customers and expand our capabilities in all fronts. “Conscious efforts are being directed at achieving better execution, especially in the areas of marketing and customer management.

Greater attention has been devoted to cutting operational costs in the different segments of our business, while still maintaining and improving on the quality of our products and services. “As it is our tradition, we intend to bring delightful innovations into fuel retailing business in Nigeria and give greater value to our customers and shareholders.�

THISDAYt WEDNESDAY OCTOBER 24, 2018

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Elumelu: Entrepreneurs Must Imbibe Corporate Governance Principles The Co-founder of the Tony Elumelu Foundation, Dr. Awele Elumelu, in this interview speaks about the forthcoming 2018 entrepreneurship forum of the Foundation. Obinna Chima provides the excerpts: Why is that despite the laudable initiative by the Foundation, intervention by commercial banks and even the federal government through its various development ďŹ nance institutions, we still have a lot of entrepreneurs, across the country seeking for support?

We are doing as much as we can by ambitiously targeting 10,000 people across the continent. However, this journey must be a collective effort. We need the public sector to buy in as well as other stakeholders. So far, we have enjoyed pockets of support. The United Bank for Africa, for example, has been a proud supporter of African entrepreneurs.

Recently, a partnership with French Agency, AFD, the Tony Elumelu Foundation and UBA was announced that will provide a risk guarantee framework and platform for entrepreneurs to access loans. More of these supports will enhance the business environment and ensure that we create a thriving place for entrepreneurs.

You said within the last four years, the TEF entrepreneurs have generated a lot of employment opportunities. Can you be speciďŹ c on what impact some of these entrepreneurs have made within their communities?

I’ll give a few. There is a young, passionate entrepreneur in Uganda. His name is Joel and he is into agriculture-related business. The interesting thing is that the land in Uganda is arid. So Joel invested in innovative ways of irrigating the land in Uganda. He has not only been able to do this, but he has also trained more people to do this. He grew 30 tonnes of onions on a one-acre area of land.

I think it is amazing. More so, he was able to achieve it with the funding he got from the foundation. And if come a bit closer to home, we have a lady called Nkem Okocha, she’s one of our entrepreneurs. She has this business called Mamamoni. What she does which I’m sure a lot of people can relate with immediately, is – along the same line of these SMEs –reach out to rural women and provide them with support in generating loans for their small businesses. She set up the whole thing by herself, so these women get loans and they’re able to improve their businesses, grow their businesses. She’s empowered so many women through it which I find very timely considering the importance of gender parity and more deliberate female inclusion in Africa’s economic landscape.

The money you are giving out, is it a loan or a gift?

No, the $5,000 is a grant we tagged as seed capital with no expectation to return. Beyond the money, we also give a rigorous, highlevel business training to the entrepreneurs through a 12-week world class programme, done online. They also have access to mentors who guide them and who they interact with on a regular basis. We don’t do the training alone or even the selection process, we have Accenture that carries out the screening, so there’s professionalism and transparency.

We had to do this to make sure that people are confident in the whole process. So, they select these 1,000 entrepreneurs and take them through the whole process of training and mentoring. They make sure they develop proper business plans and then at the end of it all, the entrepreneurs receive $5,000. I need to mention as well, that this programme, the Tony Elumelu Entrepreneurship Programme is completely sector agnostic so it doesn’t matter what sector you are from. We have entrepreneurs from more than 30 different sectors in the program. So, like I said, the entrepreneurs don’t have to pay back the $5,000 given to them. and The only way they need to pay it back is to show that they are developing their businesses, they are employing labour, they are making sure they do what they need to do to be able to employ labour

Elumelu and to generate revenue. This is because we know that the success of one entrepreneur, will always lead to the successes of several other people. That is the only payback we want – ensure that you are developing your business and you are touching others and empowering others. It is not a loan; it is seed capital.

So, what is the TEFConnect all about?

The TEFConnect is our most recent platform to further connect the entrepreneurs and business players and investors in the ecosystem.

It is going to be the largest digital platform for African entrepreneurs and the plan is to launch it at the forum this year which holds on October 25th, 2018. Some of the features include learning tools, visibility, more access to funding and opportunities for collaboration.

What are we expecting at this year’s forum?

Let us start with the numbers, this year is going to be the biggest yet. We are expecting about 5,000 entrepreneurs across the continent.

So, it is going to offer huge networking op-

The $5,000 is a grant we tagged as seed capital with no expectation to return. Beyond the money, we also give a rigorous, high-level business training to the entrepreneurs through a 12-week world class programme, done online

portunities. As usual, we are going to have the investors and political leaders as well.

Again, this is not the first time we are having presidents. This year we are having the President of Ghana at the forum.

Our major product which we are launching this year is the TEFConnect as I have said.

We also have the founder’s dialogue. In this session, Tony Elumelu will moderate an interactive session between the Presidents and the entrepreneurs, while also sharing his broad insight garnered from his entrepreneurial successes.

Then, there is the TEF Marketplace which essentially provides the entrepreneurs the opportunity to showcase their goods and services. We will also have awards because we need to be able to recognise our entrepreneurs who are doing very well and our mentors as well. There will be an awards giving ceremony for the entrepreneurs. So these are some of the things we are looking forward to on the day.

For those who were unsuccessful and are not among the 1,000 selected this, what message do you have for them?

First of all, I think the biggest message or news we have for them is the fact that the TEFConnect is being launched. They have access to this platform, they should make good use of it. Also, I would say they should not give up. They can try again; they may make next time. The Foundation has committed to 1,000 entrepreneurs, but we are open to collaboration and strategic partnership. We will continue to work to see how much more partners we can bring on so that we can assist and fund more entrepreneurs. So, as I said, the second thing is they should not give up. They should try again; they can make it. You never know how many more partners we can sign on and also they should, even if they don’t make it, they should not give up in whatever it is they are doing. They should persevere,

they should try to make sure they imbibe the right corporate governance in whatever they are doing. They should ensure that they put the right structures in place in whatever they are doing. With or without the Tony Elumelu Foundation funding, so long as they apply the right rules and principles, and they go on to the platform to gain whatever it is they can gain from the platform, they should be able to do well.

Talking about partnership, maybe you can tell us a little bit about your partnership with GIZ? GIZ is a German development agency.

They have committed the sum of one million euros (â‚Ź1,000,000) to fund entrepreneurs from select countries in Africa. They recognise that entrepreneurs are the pillars of our society and they have partnered with us to scale up this vision as well.

What excites you about the experience of the beneďŹ ciaries?

In the beginning there were entrepreneurs who were selected but along the way they have empowered others. They have trained others. There is another Nigerian lady who is into waste management and she generally recycles waste. Because of what she is doing, she has been able to influence others, helped them to realise the importance of recycling and she has been able to influence and impact a few thousand people on the importance of recycling. Naturally, by doing this, she has taken tons of waste that would have been incinerated and burnt and with this she is making money and at the same time, she is also, saving our continent. She’s reducing environmental changes that occur as a result of not recycling and incinerating and burning.

And she has managed to convert another 3,000 or so people. There are so many like that because of what they do, they either empower others or with one way or the other, impact the lives of others and influence them for good.

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Armstrong: Public Trust in Accounting Profession Has Diminished The Regional Director, Middle East, Africa and South Asia, Institute of Chartered Accountants in England and Wales, Mr. Michael Armstrong, participated in the recently concluded 48th Annual Accountants’ Conference organised by the Chartered Institute of Accountants of Nigeria. In this interview with James Emejo, he said attracting foreign direct investments into the country requires strong governance and transparency in accounting reporting and quality of audits. He also stressed the need to rebuild public trust in the accounting profession As the regional director for Institute of Chartered Accountants in England and Wales (ICAEW) in the Middle East, Africa and South Asia (MEASA), what are your key responsibilities?

I have a very exciting job which I’m very proud to be helping my institute- the Institute of Chartered Accountants in England and Wales. I’m based in Dubai which is where our regional centre is for ICAEW serving the Middle-east, Africa and South-Asia. My role is very much to assist the institute in executing its strategy and the strategy is being developed in support of our vision, a vision of a world strong economies and it’s very much the case to have a world of strong economy: you have to have individual countries with strong economies and that’s where the critical work of professional chartered accountants comes to play. Strong national economy come about by attracting foreign investment and that can only be done if a country has strong governance, transparency in accounting reporting and accountability and those elements are something where the professional accountant has strong role to play.

You have been a partner at KPMG since 1988. What has been your experience and contribution in building such a strong brand?

I’ve had the good fortune of spending 35 years with KPMG. And certainly, first, that was in London and latterly in the Middle-east.

What I found was that the critical part of working for one of the big four accounting firms was developing people and staff to serve and excel in providing exceptional service to clients. And the second ingredient was making sure clients received value added services which allows them to benefit from services provided.

So certainly there are two aspects and the most fundamental is developing the brand of international accounting firm. I have to look after the staff to make sure they are excited and ensure that they have the right training to excel in their profession and by doing so, they are rewarded. In fact, it’s important for accounting firms to strive to be employers of choice in any given economy. By doing that, they’ll be motivated and excited to provide the best possible expertise to clients.

So what have been your biggest challenge in carrying out your duties?

I think the greatest challenge relates to those two aspects: one is making sure not only obtaining the right staff, but retaining the high flyers and make sure they continue to be motivated and equally making sure that the best services are provided to clients in a variety of industries and I think this is always a challenge for any accounting firm to make sure that they distinguish themselves to be appreciated by the firms and companies they seek to serve. Most importantly also is to strengthen the reputation of accounting, ensuring quality of audit and by that, when the accountant is serving the public interest, it builds the trust. Unfortunately, trust at the moment is an area which is being diminished in recent years by a number of high profile scandals in the media.

Concerning the waning public trust in accounting practice, what do you think is the way forward?

I like to borrow the words of my CEO, Michael Izza: This is very much a watershed moment for the accounting profession. The accounting profession is alert to the fact that public trust has diminished and there’s an urgent need to rebuild that trust. This challenge has to be accepted and is being accepted by the accounting firm to make sure they deliver

Armstrong quality audits going forward. We are at a time when we can take better benefits of emerging and developing technology and I see an important ingredient of re-establishing and rebuilding trust as required through the medium of enhanced technology which would be used to strengthen quality audit.

How relevant is trust in rebuilding the accounting profession to the Nigerian economy?

Going back to my previous point about the vision of a world of strong economy, I have depended on having a strong national economy. This is obviously the case also for a strong economy in Nigeria. The accounting profession in Nigeria has a huge role to play in ensuring public trust and that the economy thrives. I am pleased to say, as I saw during this ICAN conference that the members of ICAN are very much aware of this and they’re putting significant efforts into developing their professionals, making sure they’re well prepared to deliver a quality audit that is demanded and to ensure that the public has trust in the accounting profession going forward.

How has the accounting profession managed to utilise the beneďŹ ts of social

The accounting profession in Nigeria has a huge role to play in ensuring public trust and that the economy thrives

media in light of the worrisome trend of fake news?

I will certainly agree with you that there are positives and negatives associated with social media and professional chartered accountants need to be fully aware of that. On the bright side, it’s a great communication skill. Members and students can communicate with one another, share ideas, share best practice; they form communities which deal with specific issues whether it’s an emerging IFRS accounting standards or whether it’s topical issues of international standards of auditing- certainly, these got to be debated online by communities through the social media aspects. However, as you quite rightly said, in our modern world today, where fake news is rampant and people are using several social media for spinning various approaches, spinning the perception and spinning the feedback they want to give, we need to be careful.

So, I just remind all professional chartered accountants of their obligation to have a healthy sense of scepticism. What this means is by all means, read and consider, but please do not take as absolute truth all that they hear in the media in whatever form that happens to be.

You’ve to use the professional skills to have the scepticism and make one’s own interpretation and analysis so one could then benefit from the information that’s available.

What was your key message to accounting professionals during this year’s ICAN conference?

I had the good fortune of being invited to join a panel, fellow panellists with the senior partners of the big four accounting firms here in Nigeria and we discussed and looked at the challenges and opportunities of the accounting firms of the future. I had four main points- the first was to encourage

audit firms to rethink their approach to the required skill sets of accountants; to look at the services they offer; to look at the culture of the firm’s they’re operating; and to also look at their operating models that make sure they’re fit for the future. The second point I had related to the need to make the appropriate investment at the right time in technology to make sure they’re being sufficient and accurate as possible. When we talk about technology, there are four main areas that I was considering and we refer to these as ABCD- first by artificial intelligence, second, by block chain, third by cyber security and four by big data and data analysis. My third important point relates to encouraging the firms to listen to the younger generation and I think there’s a lot to be learnt by listening to the younger generation in terms of what they’re looking for, what excites them, how they’re going to make their contribution and that would influence the structure of firms as well. And my fourth and final point relates to the imperative of collaboration. I think collaboration among firms, collaboration among institutions; that’s why I’m delighted that my institute- ICAEW is collaborating closely with ICAN. Earlier this year, my president met with the president of ICAN to sign a memorandum of understanding to evidence the collaboration that we have going forward in technical collaboration, support on professional aspects and to ensure that we encourage more membership of our respective institutes: and it’s in that regard that something tangible has come out whereby ICAEW has developed the pathway scheme to enable members of ICAN with five years of experience to become our members in certain circumstances as well. I think this is showing not only the level of cooperation which is important among institutes but giving great opportunities to our members across the globe.

How can the accounting profession grapple with the vulnerability of the internet especially as they are encouraged to embrace digitalisation in their operation?

I see cyber security as a key issue for business across the globe, Nigeria no exception. In fact, it becomes so important that cyber security tends to be only the agenda of all boardrooms these days. Cyber security is developing quickly. The approach to ensuring that security is developing equally quickly and what we are seeing is that the traditional internal controls approach is not robust enough to deal with that and therefore, the accounting firms are developing new techniques to probe and look at penetration testing of the cyber security to make sure they’re robust enough to make sure a company doesn’t have a fundamental business catastrophe.

What would be your advice for young Nigerians who intend to take up accountancy as a profession?

Well, I met Nigerians briefly in their country and I’ve met a number of Nigerians around the world. Obviously, Nigerians are well-adapted to having sense of fun and this has to be in any profession. To excel in a profession, you have to enjoy it. And I believe Nigerians must keep this sense of fun; they must work hard.

Yes, the profession is changing continuously, but that is a good thing. It gives people new opportunities which allows them to develop new skill set and develop its people. So that commitment, making sure that they get the right experience, taking on tasks which challenges them would give them huge job satisfaction. And I believe that being part of professional group of chartered accountants will give one the life skills necessary to enjoy life.

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Minister, NCAA, Police Complicity in MMA2 Shutdown Emeka Gbulie Some weeks back, the Murtala Muhammed Airport 2 (MMA2) was shut down by the aviation unions over their dispute with the operators of the terminal.

Airlines, Banks, shop owners and services providers at the terminal said they lost over N1.5 billion for what they described as ‘insensitive picketing’ of the terminal Unfortunately, our dear unions do not understand the difference between picketing and shutting down. While you have a right to picket, you do not have the right to shut down the operations of key player such as MMA2. This is a terminal that plays an important role in the economy of our nation and these unions still decided to shut it down irrespective of a subsisting court injunction. How lawless can we be as a nation?

In a lawful country those union leaders should be in jail by now.

In other climes, you would expect the main regulator of the sector which is the Nigerian Civil Aviation Authority NCAA to have intervened before the matter got to the extent of picketing but not in Nigeria.

It still baffles me how the NCAA and FAAN looked the other way, while their staff who are known members of these unions shutdown a critical service industry?

The NCAA watches everything in limbo and acts like it doesn’t exist. When the chief regulator looks the other way when it should stamp its authority, then we are in for more shockers!

Now this is the main problem with concessions in Nigeria. If a major investor in the mold and pedigree of Dr Wale Babalakin can be subjected to such humiliation, how do we expect to get more local investors, let alone foreign investors? We are yet to recover from a failed Nigeria Air project which we all know never got a single investor and the NCAA and FAAN are still adopting a ‘siddon look’ style?

From the look of the whole MMA2 and Union brouhaha, it is obvious the NCAA, FAAN and the Police were all in support of the impunity exhibited by the unions.

How else can one describe the inability of the police to disperse an unlawful gathering / trespass at MMA2 even with a court injunction?

And they were all happy seeing outlets at the terminal shut, passengers missing important business or professional engagements, banks shut and airlines losing millions and threatening to downsize?

Are we not tired of the level of job losses under the present administration?

It was such a dark day for Nigeria, concessions and the rule of law!

Recently, an aircraft belonging to overland caught fire while undergoing maintenance at its hanger at the General Aviation Terminal (GAT). The video of how the aircraft burnt beyond repair went viral and it exposed the inefficiency of FAAN and NCAA. It was a shameful sight to behold. I felt like crying for Nigeria and the aviation industry while watching the video and I asked: what if there were passengers on-board, we would have lost precious lives as a result of the ineptitude of these agencies.

Sirika

Voices in the background of the video confirmed that, apart from the fact that the fire fighters got to the hanger late, they ran out of water. Shame!

And this is supposed to be a Category 1 Airport recently certified by NCAA! I am inclined to request what emergency management program the NCAA put in place to manage such emergency situations? When was the last audit inspect carried out on the hanger? Was this part of the audit carried out by NCAA? How did the hanger get an AMO certificate? FAAN is complicit in all of these as performance of the airport fire service fell short of a CAT 1 standard. Our CAT 1 regulators NCAA and FAAN need to tell us when last they trained and bought equipment for their emergency services officers and staff?

Who knows, they may have embezzled the monies set aside for these programs and were caught unaware with the recent fire incident.

A supposed Category 1 airport as large as what we have should have a minimum of 4 fire service teams; 1 each at mma2, GAT, MMIA and Cargo to meet the ICAO 3 minutes recommended standards to put out a fire incident.

A member of the Aviation Round Table, John Ojukutu, while querying the last time the NCAA conducted an inspection or audit on the maintenance hangar also asked, “what is the category of the MMA fire service that could not put the fire out on a passenger aircraft of less than 40 seater? What would have happened if it were a B777 or even a B737? I heard people in the background of the video screaming no water! no water! But where were the water hydrants in the NCAA certified airport? Does the hanger where the incident happened not have emergency

management program for such incident?

Is the emergency management program for the hanger not an NCAA’s audit or inspection checklist?

If the answers to these questions are negative, then it’s a big shame for a regulatory agency that prides itself with the FAA CAT 1.’’ He advised the NCAA to review its checklist for hanger inspection and audit Unfortunately, both the Minister of State for Aviation Hadi Sirika and the NCAA DG, Muhtar Usman, have refused to issue a statement on both the MMA2 and overland aircraft fire incidents. I gathered from reliable sources that both were outside the country lounging somewhere in Canada while the country or their sector rather was on fire.

These are the kind of people we have at the helm of affairs of a critical sector such as aviation and nobody seems to be auditing their affairs.

With the level of mismanagement, ineptitude and inefficiency that these agencies and even the Ministry have exhibited in recent past, also with the handling of the failed Nigeria project; I will strongly recommend a total review of their operation and activities. At the moment, I can tell you for free that nobody checks or audits these agencies and you cannot be the judge in your own case as there is tendency to compromise. We deserve better as a nation and it starts with total restructuring of not just our country but the aviation industry.

For us to have a robust industry, distant from what we are presently experiencing; there is need to move agencies like the NCAA, AIB, NIMET, NAMA, and FAAN from the oversight of the ministry of Aviation to the

presidency for direct monitoring and to avoid the overt interference of the ministry in these agencies. The case of the overbearing influence of the former Minister of Aviation, Ms Stella Oduah, on these agencies is very fresh.

We all remember how she used her office to extort money from the agencies and this is one out of the many reasons for recommendation.

The Accident Investigation Bureau should be a unit under the NCAA and moved under the purview of the presidency. There must be standards and no compromise; and considering their job as auditors, they shouldn’t be answerable to the ministry to avoid the aforementioned and build a vibrant industry where safety and professionalism is guaranteed.

While many including my humble self, have condemned the handling of the failed Nigeria Air project by Sirika, I commend the minister for at least accepting that the agencies cannot effectively manage the airport infrastructure and reaffirming the commitment of the President Muhammed Buhari led administration to concession the airports.

Aviation experts have also said that MMA2 has shown that concession is the solution to improving our airport infrastructure, as the terminal provides the best passenger facilitation at the moment and can also be co-opted to manage the other airports around the country.

This unlawful, despicable and unfortunate incident will only strengthen Dr Wale Babalakin resolve to continue to make a case for concessions in Nigeria and provide the best of facilities for the travelling public as exemplified by the wide gulf in facilities and services between MMA2 and the other government run Airport.

Gbulie wrote in from Abuja

Ijeh Urges Communities to Harness ICTs Emma Okonji Nigeria’s candidate for the position of the Director, Telecommunication Development Bureau (BDT) of the International Telecommunication Union (ITU), Mr. William Ijeh, has called on communities across the globe to harness the powers of Information and

Communication Technologies (ICTs) in order to connect global citizens and to further drive development in their various communities.

Ijeh said his vision for the ITU community, if elected, would centre around the universal broadband connectivity for sustainable development.

According to him, when

the United Nations General Assembly adopted the 2013 Agenda for Sustainable Development in September 2015, the nations of the world entrusted the ITU’s BDT with a crucial responsibility to maximise the added value that ICTs can bring to sustainable development. “Today, ICTs provide the essential connectivity for

every aspect of sustainable development, such as universal education, improved health outcomes, ending hunger, business growth, access to finance and markets, and promoting social inclusion and environmental sustainability,�

Ijeh said. He promised to be committed to global ICT innovation and investment that is

fully integrated with strategic planning for the Sustainable Development Goals (SDGs).

To achieve this, Ijeh said he would reposition the BDT to be at the service of all the ITU’s members and partners, with a governance framework of consultation, transparency and accountability, so that all can move forward together and

no country is left behind. “Central to this ambition, will be fostering public-private partnerships to make affordable broadband services available to all people,� Ijeh said.

He assured that he would do everything possible to ensure that BDT addresses all challenges through ubiquitous broadband access.

THISDAYt WEDNESDAY OCTOBER 24, 2018

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EDUCATION Transforming Lives through Language, Culture In Ila-Orangun, Osun State, the Adeabeke Fabola Educultural Organisation, a non-governmental organisation, has been promoting the Yoruba Language and culture among youths to harness their talents and enable them achieve what they want in life. Funmi Ogundare reports

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he importance of language and culture in our everyday live cannot be undermined; while culture is a product of the human mind defined, propagated and sustained through language, language forms the basis for ethnic, regional, national or international identity. It plays a vital role in the customs, traditions, ideas, art and values the people.

With these in mind, the Adeabeke Fabola Educultural Organisation (AFECO), a nongovernmental organisation, has decided to take it upon itself to groom youths in these areas with the intent of promoting the rich culture and tradition of the Yoruba land.

The NGO, which has its roots in the old and rusty community of Ila-Orangun, Osun State, was founded by a senior lecturer at the Department of Linguistic and African Languages, Faculty of Arts, Obafemi Awolowo University, Ile-Ife, Dr. Adeola Faleye. It is designed to promote the latent talents of youths, gender, special focus for craft and traditional knowledge dissemination.

Faleye told THISDAY at the inauguration of the organisation, which also coincided with her 50th birthday celebration and book launch recently, how she had nursed the idea 15 years ago to ensure that the youths live a purposeful life. “I have always nursed the idea of having a school and teaching the youths; my focus has always been on children making it in life. I grew up learning the hard way because when I should have been encouraged to learn, I was abandoned. “I picked an interest in the fact that I have some latent talents tapped from the exposure I had from my parents to improve on not just the local or indigenous language, but to also add value to it with the knowledge of reading and writing, which my parents never had. I have never for once felt inferior to myself even while I was growing up or my mates.�

The cultural ambassador ascribed her love for the Yoruba Language to destiny, her determination, exposure to and acceptability of the factors around her. “I grew up among parents that chant and sing, my mother was a trader and food vendor. I also lived among local people in Ile-Ife, but the art of speaking the right language is also heredity because in my family, we chant and sing. “My plan was to study Law, but it didn’t work out, so I applied for English Law and Accounting, which didn’t also work out, but the only course I was admitted for was Yoruba Language at the College of Education in Ila. When I got there, I told myself, I wanted to go to the university, I had to fend for myself in order to grow academically, I had no supporter especially after I left secondary school. But I was determined and I told myself that I would make it. So when I eventually saw myself in Yoruba Studies, I told myself that I was going to be the best in the studies, which assisted me.�

She emphasised on the relationship between language and culture, saying that language cannot stand in isolation without culture. “They are intertwined and connected because it is your culture that will boost your language. If you want to buy something in the market, your language can either assist your culture to grow or be jettisoned. Language is derived from your culture and culture can promote it. “There is a way you dress, speak and greet in languages. Language is a concept that speaks to different periods, seasons and context of the users.

So language is contextual sometimes, likewise your culture. If you are not one who is conversant with your culture, you can’t apply the rules of the language. Your language is embedded in your culture, they can’t be separated.�

On the training of youths, Faleye said the organisation had brought together a total of 437 candidates, drawn from communities in Ila-Orangun, Oke-Ila, Ajaba, Ayedun-Ekiti,

The Chairperson and founder of Adeabeke Fabola Educultural Organisation (AFECO), Dr. Adeola Faleye, with the youths at the inauguration of the organisation’s Board of Trustees (BoT) and her 50th birthday celebration in Ila-Orangun, Osun State... recently Osogbo, among others, trained them on drama and songs and they participated in a competition to reduce their number, adding that it is currently developing a centre where the youths will be continuously trained and have the opportunity to impact others before they leave. “The idea was to sensitise the youths, empower them so that they can imbibe our culture from childhood. The motto of the organisation is ‘Transforming Lives, Protecting our Cultural Heritage’, we created this so that they can remember and know that it stands for transforming their lives from the worst to the best because they never knew they had the talents. The aim is to discover those talents so that they can turn it to something good for themselves and their community and make a livelihood from it.�

Faleye, who is also the Yeye Asa of Ila-Oragun, thanked God for hitting the golden jubilee, while stressing the need to protect cultural values. “There is need for transformation, except that we don’t want to be realistic, there are certain things we do now. I can’t train my children the way my mother trained me because of my exposure, so what I do now, I balance it by training my children, I believe in quality and fairness and empowering children to thrive.�

Asked where she sees the organisation in the next five years, the chairperson of the organisation said, “I see it going international, I am very optimistic and anything I lay my hands on, God has always helped me, it may be tough and rough, but with the saying, ‘without pains, there can’t be gains’. So if I want it to go international, I have a website, a board inaugurated, we have a registered name under Corporate Affairs Commission (CAC), we are linking with NGOs who can collaborate. “It is going to be such that will accommodate as many people who come to assist the children to run different programmes and workshops.

I reach out to people who I know have similar

vision to assist me, I have written series of letters to philanthropists and people have been wonderful and that was after I erected the building we inaugurated today to make it a home and habitable place for the youths. I brought trainers to train the students so that they can gain from their wealth of experience.�

The Chairman of the occasion and former Governor of Osun State, Chief Bisi Akande expressed delight about the AFECO centre, saying, “I am very proud of her because thinking can make a person great and make a nation grow. It is her thinking that has made it possible which is the beginning of growth as a seed centre for development. It is about culture and education of the youths and for those who are interested in the Yoruba Language, culture with educated background or support can grow our society.�

He admonished the indigenes of Ila-Orangun Community to bring back the profits of their investment to develop the place and empower the poor community. “There are some investments that may not be able to grow in a rural community, but the profits of investment should be brought back here so that it can circulate around the people, it will empower the poor community. When we were growing up, in the whole of Osun State, there was no institution that could employ one graduate, so definitely, when you get educated, you go to the city to get employed; the fruit of investment must be brought back home. The people don’t come back to give back to the community and that is very sad.�

The wife of the in-coming governor, Mrs. Kafayat Oyetola described Faleye as a hard working woman, who wants to impact positively on the youths.

The son of the late Attorney General of the Federation and Minister of Justice, Chief Bola Ige, Honorable Muyiwa Ige argued that over the

years, the country has continuously lost track of upholding its culture, adding that culture and values should not be lost. “What you see out there in the present day Yoruba land is nothing to speak about and the only thing we have responsibility of doing is to ensure that we protect and guard our culture jealously and encourage people to get an understanding of what their culture is all about and in particular great values. The Yoruba culture is the deepest in the entire world, which teaches you not only good manners. “When you talk about our culture dwindling, hope is not lost and this programme being nurtured

by Yeye Asa of Ila is a step in the right direction.

Others are embarking on similar ideas in Ibadan, but this one is quite interesting and encouraging the children of the community and of the Yoruba land to have a thorough understanding of what their culture is about, not only mannerism but even in the language. If we can’t speak our language properly, it may go into extinction.�

On ways to address the poor reading culture among youths, he said he is currently working on a programme to set up neighbourhood libraries. “Unfortunately with social media, young people are getting away with reading and writing. Back then in the days of my parents, when we were growing up, we wrote letters, nobody between the ages of 18 and 25 can tell you they have written a letter in the last 10 years. We must encourage reading English and Yoruba. “I am working on a programme to set up libraries everywhere, particularly Oriade, Obokun Local Government Areas and Ijesha Land, which will be stacked with books to encourage the reading culture. We have to let our children know that there is a lot of information hidden in these books, so we must read and dissect all the information; we will add greater value, readers are great leaders.

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EDUCATION

Crescent Varsity Honours Babalola, Others at 10th Convocation Ceremony At the 10th convocation ceremony of Crescent University, held in Abeokuta, Ogun State last Saturday, outstanding students were rewarded, while three distinguished Nigerians were also honoured with Doctor of Science Honoris Causa in various disciplines. Funke Olaode reports

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he Nigerian education sector got a boost at the recent 10th convocation ceremony of Crescent University, when it graduated 424 students with 30 outstanding ones who made first class; 171 with second class upper division; 156 with second class lower division; while 67 came out with third class.

Among the outstanding graduands was 21-year-old Tiamiyu Ayokunumi Latifat of the College of Natural Science and Applied Science, who graduated with a first class in Microbiology with a Cumulative Grade Point Average (CGPA) of 4.91, the best ever produced in the history of the 13-year-old institution.

Of course, that earned her several academic laurels and an automatic employment.

As a part of its norms to honour outstanding Nigerians that have shone brilliantly in their endeavours, the management led by its founder and Proprietor, the erudite legal luminary, Judge Bola Ajibola SAN awarded Doctor of Science Honoris Causa to Chairman of Telemobile Nigeria Limited, Alhaji Sakariyau Babalola; Professor of Engineering, The Ohio State University, United States, Prof. Alfred Soboyejo; and Chief Executive Officer of ZGM Investment Group of Companies Limited, Mr. Abbey Onas.

In his opening remarks, Ajibola thanked God that the management has been able to sustain, the academic activities of the university in 13 years, as they have continually kept faith in God, and kept the institution’s gate open for seekers of education, knowledge and understanding.

He said just like all human endeavours, the management is constantly faced with a multiplicity of challenges in keeping the institution abreast of its mandate and not running afoul of its core philosophy of education plus, that is academic excellence, high moral rectitude and the fear of God. The joy he said is that with determination, the conscientiousness of management and staff and the support of men and women of goodwill, the institution has continued to triumph. “In the last five years, some five programmes of the university have received accreditation. The atmosphere of learning and the quality of faculty have continued to ensure that our products can compete with the best available anywhere in the world. It is our hope that these stars in whom we are pleased will sooner become a legion and indeed will form a galaxy shining forth for the entire world to see.�

On the management’s effort to encourage indigent but brilliant students whose education may be truncated due to lack of finance, he said the institution has instituted a scholarship scheme that comes to their aid after establishing the merit of such cases. “I am glad that one of those beneficiaries, Ayokunumi Tiamiyu performed exceedingly well to be the best graduating student.�

L-R: The Vice-Chancellor, Crescent University, Prof. Ibrahim Gbajabiamila; 2018 awardee, Alhaji Sakariyau Babalola; and the Registrar of the institution, Zakariyya Ajibola, during the 10th convocation ceremony and award of Doctor of Science Honoris Causa, Business Administration to Babalola by the institution‌ recently In his acceptance speech on behalf of other honorary awardees, Babalola thanked the management of the university, especially the proprietor for the honour bestowed on him. “It is uplifting that this award is coming from this great citadel of learning that is rooted in integrity, moral, values and standard in all facets of academic. I am proud to associate with this institution, which happens to be one of the best private universities in Nigeria. “Its impact in turning out the best brains in its 13th year of establishment is laudable as its products have continued to keep the flag flying in academic excellence both at home and abroad, and their tentacles are being felt in multinational companies globally. This feat attests to the vision of the founder who is also one of the brightest Nigerians ever produced in the legal circle to produce nothing but the best. “No doubt, Crescent University is playing its part in providing quality education to the Nigerian citizenry because education has the power to transform the society, education is the tool and power that one can use to realise one’s potential.

Above all, it is the only liberator from the shackles of poverty. Once again, I thank the management of this great institution for this honour bestowed on us and I believe as the year progresses, coupled with the achievements recorded within a short period of time, Crescent University will not only be an enviable university in Nigeria nay Africa, but it will be a global reference,� he said.

Born into the notable family in the town of Ede, Osun State over 80 years ago, Babalola started his intellectual journey with the acquisition of Qur’anic education which he commenced when he was barely six years old. Though his parents insisted that he should continue his Islamic education for the next four years after which he joined the St. Peters Anglican School, Oke-Egan in Ede where he had his conventional primary education between 1948 and 1953.

A visionary young man with global traits, shortly after his primary education, he sought greener pasture in Lagos with a meagre sum of thirty shillings. The 30 shillings business grew into a conglomerate, diversifying into areas such as haulage, oil and gas, communication and solid minerals development.

Having set out to conquer the world of business, commerce, science and humanity, SOB as he is fondly called shone brilliantly in the telecommunication sector where he made the most significant contribution. His company, Telemobile Nigeria Limited was the first indigenous telecommunication company to deploy satellite communication in Nigeria. By this feat, he was honoured by the federal government with the Officer of the Order of the Niger (OON) in 2003.

Alhaji Babalola is many things to many people; to his family, he has been the exemplary father, teacher and guide, while to several others he is simply a combination of philanthropist, life coach, and motivator and compassionates religious figure

whose love for humanity has endeared him to the hearts of many.

In philanthropy, he is legendary. Having realised the importance of education, his scholarship award to many indigent Nigerian students in various disciplines both in local and foreign universities has reawakened many dreams that would have been aborted. In appreciation of his quality of leadership and contribution to the society, Babalola has been honoured by his faith and community and federal government.

The Crescent University is not the first recognition that would be bestowed on him. In 2003, the University of Calabar honoured him with Doctor of Science honoris causa in Telecommunications, Fountain University, Osogbo and Oduduwa University also gave him honorary doctorate degree in Business Administration. He is also a Fellow of the Federal Polytechnic, Ede, Osun State.

Happily married and blessed with outstanding children who are making marks in their endeavours; one of his sons once served as Minister of power and his eldest daughter is currently the Commissioner for Federal Matters in the Osun State Government.

Among the dignitaries at the event were former Deputy Governor, Lagos State, Alhaja Sinatu Ojikutu; Vice-Chancellor of the institution, Prof. Ibrahim Gbajabiamila; the Registrar, Zakariyya Ajibola, among others. The event was rounded up with a fully equipped medical ambulance donated by the Parents’ Forum to the university clinic.

Stakeholders Canvass Inclusive Edo Best Teacher Pledges Better Education for Socio-economic Stability Commitment Funmi Ogundare Stakeholders have called for a scalable quality and inclusive education that cater for children from all incomes if the country is to unleash the potential of young Nigerians and achieve socio-economic growth and stability.

They said this recently at the presentation of the Department for International Development (DFID) Education Data Research and Evaluation in Nigeria (EDOREN) report on Bridge International Academies in Lagos.

Already, EDOREN, funded by the UK DFID has launched a comparative study to describe the learning levels of students in Bridge, public and private schools in Lagos State and identify factors that might help account for differ-

ences in achievement on literacy and numeracy.

The Vice-President of Measurement and Evaluation at Bridge, Dr. Steve Cantrell affirmed that there is no learning gap at Bridge schools, adding that the report from the study showed that teachers have high expectations for every pupil, irrespective of the family income, poor educational attainment or the language. “Bridge schools are places of equal opportunity and equal learning benefits for all types of children and especially for the poor,� he said, adding that the independent report is assisting children from poor families in Lagos to learn, improve access to quality education, as well as provide the best learning attainment in communities it serves.

Cantrell highlighted some of the

report findings on Bridge school to include; its pupils knowing more than peers on literacy; teachers having the best relationship with pupils, majority of who are from poor families; as well as the schools being managed more effectively.

The Education Adviser, DFID, Mrs. Esohe Eigbike said leadership is critical if schools are to be better managed, adding that huge impact will be achieved if teachers are supportive.

The Executive Director and Chief Operating Officer, Nigeria Sovereign Investment Authority (NSIA), Mrs. Stella Ojekwe-Onyejeli expressed delight about the company’s support for Bridge’s efforts in scaling education in the country through the deployment of its innovative technology and unique teaching methodology.

Adibe Emenyonu in Benin City Moved by the car and N1 million cash gifts which the Edo State Governor, Mr. Godwin Obaseki promised her, the second best school administrator in Nigeria, who also received the best teacher award, Mrs. Noragbon Osaru has pledged to do more for her pupils in Emotan Primary School.

At the unveiling of 7,000 digital trained teachers in Benin City, Osaru was promised N1 million and a brand new car by the governor for emerging the second best head teacher in Nigeria and the best in the state.

Speaking to journalists at the event, she dedicated the awards to Almighty God who singled her out for the honour by the governor. “I also dedicate the awards to my

fellow teachers and pupils of my school and I am grateful to the Edo State government that gave me the platform to teach. Our governor is a man of his words and I promise to do more for Edo pupils.�

She also expressed excitement about the rare reward from the governor “who promised us months ago that he will reward hard working teachers in the state and I am so happy to be favoured by his administration that believes in merit and hard work.�

Osaru thanked the Chairman of the Edo State Universal Education Board (SUBEB), Dr. Joan Osa Oviawe, who is implementing the governor’s vision in the basic education sector with a high sense of professionalism. “These awards are to all of us in our school; the

teachers and pupils because I could not have done the work alone.�

On how she emerged the second best head teacher in the country, Osaru explained that the journey started in August, when she was screened alongside 17 other best head teachers and teachers representing the 18 local government areas of the state. “I was interviewed and drilled by the officials of government who found me worthy after the assessment, to represent Edo State at the national level and I emerged second best school administrator in Nigeria.

To her colleagues, she said: “I will advise other teachers in the country to be more committed to their duty. They should see their job as an opportunity to contribute to the growth of the country.

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Hampton School Emphasises Differentiated Lessons Uchechukwu Nnaike

In line with its vision to bring out the best in children, irrespective of their learning abilities, Hampton Preparatory School, Lekki has underscored the importance of differentiated lessons for its pupils in such a way that each pupil has his own learning programme.

The school said the approach helps to challenge more able children while the less able ones are supported through their own programme by specialist teachers.

Briefing journalists in Lagos to mark the school’s one year anniversary the co-founder and Director, Mrs. Kemi Balogun said “our very small class sizes ensure that every child is dealt with individually.�

According to her, in line

with their passion for excellence, the pupils are taught from a very young age to extend their natural ability to explore and learn within a global context. “This includes pushing the boundaries of science, maths, ICT, learning new languages and understanding wider cultures. “Our delivery of the British curriculum is done in a sound and interactive way, making learning fun and exciting for every child at our school, irrespective of their learning abilities. Even though we push the boundaries of teaching and learning with our children, it is done in the most unthreatening manner so that children grow in confidence and the love of learning.�

A statement jointly signed by Balogun and

the Co-Director, Mrs. Linda Adeyemi-Hastrup stressed that the four key components- strong leadership, effective teaching, valueoriented approach to the delivery of the curriculum, and quality learning environment and resources- that make up a successful school are embedded with the fibre of the small exclusive school.

The co-founders, who run a chain of British schools with over 22 years of experience, said “we know that each child is capable and we continue to encourage high performances by bringing out the best in them. It is for this reason that Hampton Preparatory School will always remain a small and exclusive school where focus will always remain on the child.�

Corroborating the cofounders’ statement, the Head Teacher, Mrs. Emma Elegbe said the school ensured that from the first day, it started with excellent teachers. She said the school takes music and sports seriously, adding that it created a period known as ‘music hour’ when every child must learn an instrument. “Our approach to educating the whole child has allowed each child to benefit from a wide range of co-curricular activities. They are encouraged to learn two new languages with Mandarin and Spanish being compulsory. Music and swimming also form an important part of our school life. Every child will learn to play two musical instruments as part of the curriculum.�

Some pupils of Hampton Preparatory School, Lekki in the library

‘LET’S START FROM THE VERY BEGINNING...’ Ă’Ă?Ă˜ Ă&#x;Ă–Ă“Ă? Ă˜ĂŽĂœĂ?ĂĄĂ? Ă“Ă˜ ËŠ Ă™Ă&#x;Ă˜ĂŽ Ă™Ă? Ă&#x;Ă?Ă“Ă?ËŞ Ă?Ă‹Ă˜Ă‘Ëœ ËŤ Ă?Þ˪Ă? Ă?ĂžĂ‹ĂœĂž Ă?ĂœĂ™Ă— ÞÒĂ? Ă Ă?ĂœĂŁ ĂŒĂ?Ă‘Ă“Ă˜Ă˜Ă“Ă˜Ă‘Ëœ ÞÒĂ? Ă Ă?ĂœĂŁ ÑÙÙÎ ÚÖËĂ?Ă? ÞÙ Ă?ĂžĂ‹ĂœĂžË›Ë›Ë›ËŹ Ă?Ă’Ă? Ă—Ă‹ĂŽĂ? Ă‹ ĂšĂœĂ™Ă?Ă™Ă&#x;Ă˜ĂŽ Ă?ÞËÞĂ?Ă—Ă?Ă˜Ăž ÞÒËÞ Ă?Ă&#x;ĂžĂ? Ă‹Ă?ĂœĂ™Ă?Ă? Ă‹Ă˜ĂŁĂžĂ’Ă“Ă˜Ă‘ Ă‹Ă˜ĂŁĂ™Ă˜Ă? Ă—Ă“Ă‘Ă’Ăž ĂĄĂ‹Ă˜Ăž ÞÙ ĂŽĂ™ Ă‹Ă˜ĂŽ ĂŽĂ™ Ă?Ă&#x;Ă?Ă?Ă?Ă?Ă?Ă?Ă&#x;Ă–Ă–ĂŁË› Ă™Ăœ Ă˜Ă‹ĂžĂ“Ă™Ă˜Ă? åÓÞÒ Ă’Ă“Ă‘Ă’ ĂœĂ‹ĂžĂ?Ă? Ă™Ă? ĂžĂ&#x;ĂŒĂ?ĂœĂ?Ă&#x;Ă–Ă™Ă?Ă“Ă? Ě™ ĚšËœ ÞÙ Ă?ĂœĂ‹ĂŽĂ“Ă?Ă‹ĂžĂ? ÞÒÓĂ? ĂŽĂ“Ă?Ă?Ă‹Ă?Ă?Ëœ Ă“ĂžĂ? ĂšĂ?ÙÚÖĂ? Ă—Ă&#x;Ă?Ăž Ă?ĂžĂ‹ĂœĂž Ă?ĂœĂ™Ă— ÞÒĂ? Ă Ă?ĂœĂŁ ĂŒĂ?Ă‘Ă“Ă˜Ă˜Ă“Ă˜Ă‘Ë› Ă’Ă? Ă Ă‹Ă?Ă?Ă“Ă˜Ă? Ă‘Ă“Ă Ă?Ă˜ ÞÙ ĂŒĂ‹ĂŒĂ“Ă?Ă? ĂšĂœĂ™Ă Ă“ĂŽĂ?Ă? ÞÒĂ? Ă˜Ă?Ă?ĂŽĂ?ĂŽ ĂšĂœĂ™ĂžĂ?Ă?ĂžĂ“Ă™Ă˜ Ă‹Ă‘Ă‹Ă“Ă˜Ă?Ăž Ă“Ă˜ Ă?Ă’Ă“Ă–ĂŽĂœĂ?Ă˜Ë› Ă? Ă•Ă˜Ă™ĂĄ Ă?ĂœĂ™Ă— ÞÒĂ? Ă™ĂœĂ–ĂŽ Ă?ËÖÞÒ ĂœĂ‘Ă‹Ă˜Ă“Ă?Ă‹ĂžĂ“Ă™Ă˜ Ě™ Ěš ÞÒËÞ ÞÒĂ? Ă Ă‹Ă?Ă?Ă“Ă˜Ă? Ă?Ă&#x;ĂœĂœĂ?Ă˜ĂžĂ–ĂŁ ĂœĂ?Ă‹Ă?Ă’Ă?Ă? Ă&#x;Ăš ÞÙ ͎͜ ĂšĂ?Ăœ Ă?Ă?Ă˜Ăž Ă™Ă? Ă‹Ă–Ă– Ă˜Ă?ĂĄĂŒĂ™ĂœĂ˜ Ă?Ă’Ă“Ă–ĂŽĂœĂ?Ă˜ Ă‹Ă˜ĂŽ Ă“Ă˜Ă?Ă‹Ă˜ĂžĂ? Ă“Ă˜ Ă?Ă™Ă&#x;Ă˜ĂžĂœĂ“Ă?Ă? ÞÒËÞ Ă’Ă‹Ă Ă? Ă’Ă“Ă‘Ă’ Ă–Ă?Ă Ă?Ă–Ă? Ă™Ă? ĂžĂ&#x;ĂŒĂ?ĂœĂ?Ă&#x;Ă–Ă™Ă?Ă“Ă?Ë› Ă? ÞÒĂ? Ă Ă‹Ă?Ă?Ă“Ă˜Ă? Ă?Ă‹Ă?Ă“Ă–ĂŁ Ă‹Ă Ă‹Ă“Ă–Ă‹ĂŒĂ–Ă? Ă“Ă˜ ĂŁĂ™Ă&#x;Ăœ Ă‹ĂœĂ?Ă‹ËŁ Ă&#x;ĂœĂœĂ?Ă˜ĂžĂ–ĂŁËœ Ă?Ă™Ă&#x;Ă˜ĂžĂœĂ“Ă?Ă? åÓÞÒ Ă’Ă“Ă‘Ă’ ĂœĂ‹ĂžĂ?Ă? Ă™Ă? ĂžĂ&#x;ĂŒĂ?ĂœĂ?Ă&#x;Ă–Ă™Ă?Ă“Ă? Ă‹ĂœĂ?Ë? Ă?ĂœĂ“Ă?Ă‹Ě‹ Ă?Ă˜Ă?ĂœĂ‹Ă–Ă–ĂŁ Ă&#x;ĂŒĚ‹ Ă‹Ă’Ă‹ĂœĂ‹Ă˜ Ă?ĂœĂ“Ă?Ă‹Ë› Þ˪Ă? Ă“Ă—ĂšĂ™ĂœĂžĂ‹Ă˜Ăž ÞÙ Ă˜Ă™ĂžĂ? ÞÒËÞ Ă“Ă‘Ă?ĂœĂ“Ă‹ Ă‹Ă˜ĂŽ Ă™Ă&#x;ÞÒ Ă?ĂœĂ“Ă?Ă‹ ĂĄĂ?ĂœĂ? Ă–Ă“Ă?ĂžĂ?ĂŽ Ă‹Ă—Ă™Ă˜Ă‘Ă?Ăž ÞÒĂ? Ă?Óâ Ă?Ă™Ă&#x;Ă˜ĂžĂœĂ“Ă?Ă? Ă‹Ă?Ă?Ă™Ă&#x;Ă˜ĂžĂ“Ă˜Ă‘ Ă?Ă™Ăœ Í´ÍŽ ĂšĂ?Ăœ Ă?Ă?Ă˜Ăž Ă™Ă? ÞÒĂ? ÞÙÞËÖ ĂŽĂ?ËÞÒĂ? Ă‘Ă–Ă™ĂŒĂ‹Ă–Ă–ĂŁ Ă?ĂœĂ™Ă— ĂžĂ&#x;ĂŒĂ?ĂœĂ?Ă&#x;Ă–Ă™Ă?Ă“Ă? Ă“Ă˜ Í°ÍŽÍŻÍłËœ Ă‹Ă?Ă?Ă™ĂœĂŽĂ“Ă˜Ă‘ Ă?ĂšĂ™ĂœĂžĂ? Ă™Ă˜Ă–Ă“Ă˜Ă?Ë› Ă–Ă?Ă™ Ă?âÚĂ?ĂœĂ“Ă?Ă˜Ă?Ă“Ă˜Ă‘ Ă“Ă˜Ă?Ă“ĂŽĂ?Ă˜Ă?Ă?Ă? Ă™Ă? ĂžĂ&#x;ĂŒĂ?ĂœĂ?Ă&#x;Ă–Ă™Ă?Ă“Ă? Ă‹ĂœĂ?Ë? Ă™Ă&#x;ÞÒ Ă‹Ă?Ăž Ă?Ă“Ă‹ Ă“Ă˜Ă?Ă–Ă&#x;ĂŽĂ“Ă˜Ă‘ Ă˜ĂŽĂ“Ă‹Ëœ Ă‹Ă•Ă“Ă?ĂžĂ‹Ă˜Ëœ Ă˜ĂŽĂ™Ă˜Ă?Ă?Ă“Ă‹ Ă‹Ă˜ĂŽ Ă‹Ă˜Ă‘Ă–Ă‹ĂŽĂ?Ă?Ă’Ë› Ă&#x;Ă?Ă?Ă“Ă‹Ëœ Ă’Ă“Ă˜Ă‹Ëœ Ă™Ă&#x;ÞÒ Ă—Ă?ĂœĂ“Ă?Ă‹Ëœ Ă’Ă? Ă?Ă?Ăž Ă‹Ă?ÓʨĂ? Ă?Ă‘Ă“Ă™Ă˜ Ě‹ ÞÙ ĂĄĂ?Ă?Ăž Ă™Ă? ÞÒĂ? Ă‹Ă?ÓʨĂ? Ă?Ă?Ă‹Ă˜ Ă“Ă˜Ă?Ă–Ă&#x;ĂŽĂ“Ă˜Ă‘ Ă“Ă?ĂžĂ˜Ă‹Ă—Ëœ Ă‹Ă—ĂŒĂ™ĂŽĂ“Ă‹ Ă‹Ă˜ĂŽ ÞÒĂ? Ă’Ă“Ă–Ă“ĂšĂšĂ“Ă˜Ă?Ă?Ë› ĂœĂ?Ă‘Ă˜Ă‹Ă˜Ăž åÙ×Ă?Ă˜ Ă“Ă˜ ÞÒĂ?Ă?Ă? ĂœĂ?Ă‘Ă“Ă™Ă˜Ă? Ă˜Ă?Ă?ĂŽ ÞÙ Ă?Ă™Ă˜Ă?Ă“ĂŽĂ?Ăœ Ă?Ă?ĂœĂ“Ă™Ă&#x;Ă?Ă–ĂŁ Ă‘Ă?ĘľĂ“Ă˜Ă‘ ÞÒĂ?Ă“Ăœ Ă˜Ă?ĂĄĂŒĂ™ĂœĂ˜ ĂŒĂ‹ĂŒĂ“Ă?Ă? Ă Ă‹Ă?Ă?Ă“Ă˜Ă‹ĂžĂ?ĂŽ åÓÞÒ ÞÒĂ? Ă Ă‹Ă?Ă?Ă“Ă˜Ă? Ă?Ă™Ă™Ă˜ Ă‹Ę°Ă?Ăœ ÞÒĂ?ĂŁËŞĂœĂ? ĂŒĂ™ĂœĂ˜Ë› Ă’Ă? Ă Ă‹Ă?Ă?Ă“Ă˜Ă? Ă“Ă? Ă?Ă&#x;ĂœĂœĂ?Ă˜ĂžĂ–ĂŁ ÞÒĂ? Ă™Ă˜Ă–ĂŁ Ă Ă‹Ă?Ă?Ă“Ă˜Ă? Ă‹Ă Ă‹Ă“Ă–Ă‹ĂŒĂ–Ă? Ă?Ă™Ăœ ÞÒĂ? ĂšĂœĂ?Ă Ă?Ă˜ĂžĂ“Ă™Ă˜ Ă™Ă? ĂžĂ&#x;ĂŒĂ?ĂœĂ?Ă&#x;Ă–Ă™Ă?Ă“Ă? Ă“Ă˜ Ă’Ă&#x;Ă—Ă‹Ă˜ ĂŒĂ?Ă“Ă˜Ă‘Ă?Ë› ÒËÞ˪Ă? Ă“Ăž åÓÞÒ ĂžĂ&#x;ĂŒĂ?ĂœĂ?Ă&#x;Ă–Ă™Ă?Ă“Ă? Ě™ Ěš ĂŁĂ™Ă&#x; Ă—Ă“Ă‘Ă’Ăž Ă‹Ă?Ă•Ë› ĂœĂ?Ă?Ă?Ă˜ĂžĂ–ĂŁ Ă‘Ă–Ă™ĂŒĂ‹Ă–Ă–ĂŁËœ ĂžĂ&#x;ĂŒĂ?ĂœĂ?Ă&#x;Ă–Ă™Ă?Ă“Ă? Ě™ Ěš Ă–Ă“Ă•Ă? Ă—Ă‹Ă˜ĂŁ ĂŒĂ‹Ă?ĂžĂ?ĂœĂ“Ă‹Ă– Ă“Ă˜Ă?Ă?Ă?ĂžĂ“Ă™Ă˜Ă?Ëœ Ă“Ă? ĂžĂœĂ&#x;ĂŽĂ‘Ă“Ă˜Ă‘ Ă™Ă˜ Ă‹Ă? Ă‹Ă˜ Ă™ĂŒĂ?ĂžĂ“Ă˜Ă‹ĂžĂ? Ă—Ă&#x;Ă–ĂžĂ“Ě‹ĂŽĂœĂ&#x;Ă‘Ě‹ĂœĂ?Ă?Ă“Ă?ĂžĂ‹Ă˜Ăž Ă“Ă˜Ă?Ă?Ă?ĂžĂ“Ă™Ă˜Ë› Ă?Ă?Ă™ĂœĂŽĂ“Ă˜Ă‘ ÞÙ ÞÒĂ? Ă™ĂœĂ–ĂŽ Ă?ËÖÞÒ ĂœĂ‘Ă‹Ă˜Ă“Ă?Ă‹ĂžĂ“Ă™Ă˜ Ě™ ĚšËœ Ă“Ă˜ Í°ÍŽÍŻÍł ĂĄĂ™ĂœĂ–ĂŽĚ‹Ă™Ă Ă?ĂœËœ Ă‹Ă˜ Ă?Ă?ÞÓ×ËÞĂ?ĂŽ Í˛ÍśÍŽËœÍŽÍŽÍŽ Ă?Ă&#x;ĘĽĂ?ĂœĂ?ĂœĂ? ĂŽĂ?Ă Ă?ÖÙÚĂ?ĂŽ Ă—Ă&#x;ÖÞÓ ĂŽĂœĂ&#x;Ă‘ ĂœĂ?Ă?Ă“Ă?ĂžĂ‹Ă˜Ă?Ă? ÞÙ ÞÒĂ? Ă“Ă˜Ă?Ă?Ă?ĂžĂ“Ă™Ă˜Ë› Ă“Ă? Ă‹ Ă?Ă?ĂœĂ“Ă™Ă&#x;Ă? Ă“Ă˜Ă?Ă?Ă?ĂžĂ“Ă™Ă˜ Ă?Ă‹Ă&#x;Ă?Ă?ĂŽ ĂŒĂŁ Ă‹ ĂŒĂ‹Ă?ĂžĂ?ĂœĂ“Ă&#x;Ă— Ă•Ă˜Ă™ĂĄĂ˜ Ă‹Ă? ĂŁĂ?Ă™ĂŒĂ‹Ă?ĂžĂ?ĂœĂ“Ă&#x;Ă— Ă&#x;ĂŒĂ?ĂœĂ?Ă&#x;Ă–Ă™Ă?Ă“Ă?Ë› ĂžĂ? Ă?Ù×ÚÖÓĂ?Ă‹ĂžĂ“Ă™Ă˜Ă? Ă?Ă‹Ă˜ Ă•Ă“Ă–Ă– Ă“Ă? Ă˜Ă™Ăž Ă›Ă&#x;Ă“Ă?Ă•Ă–ĂŁ ĂžĂœĂ?Ă‹ĂžĂ?ĂŽË› Ă’Ă“Ă? ĂŒĂ‹Ă?ĂžĂ?ĂœĂ—Ă“Ă‹ Ă“Ă? Ă?Ă™Ă˜ĂžĂ‹Ă“Ă˜Ă?ĂŽ ĂĄĂ“ĂžĂ’Ă“Ă˜ ÞÒĂ? ĂŽĂœĂ™ĂšĂ–Ă?ĂžĂ?Ëœ Ă“Ă˜ ÞÒĂ? Ă?Ă˜Ă?Ă?äĂ?Ă? Ă‹Ă˜ĂŽ Ă?Ă™Ă&#x;Ă‘Ă’Ă? Ă™Ă? Ă“Ă˜Ă?Ă?Ă?ĂžĂ?ĂŽ ĂšĂ?ĂœĂ?Ă™Ă˜Ă?Ë› Ă˜Ă“Ă˜ĘŽĂ?Ă?ĂžĂ?ĂŽ ĂšĂ?ÙÚÖĂ? Ă“Ă˜Ă’Ă‹Ă–Ă“Ă˜Ă‘ ÞÒĂ?Ă?Ă? Ă?Ă™Ă˜Ě‹ ĂžĂ‹Ă—Ă“Ă˜Ă‹ĂžĂ?ĂŽ ĂŽĂœĂ™ĂšĂ–Ă?ĂžĂ?Ëœ Ă‹Ę°Ă?Ăœ ĂšĂœĂ™Ă–Ă™Ă˜Ă‘Ă?ĂŽ Ă?Ă™Ă˜ĂžĂ‹Ă?Ăž åÓÞÒ ÞÒĂ? Ă“Ă˜Ă?Ă?Ă?ĂžĂ?ĂŽËœ Ă—Ă‹ĂŁ Ă‹Ă?Ă›Ă&#x;Ă“ĂœĂ? ÞÒĂ? ĂŒĂ‹Ă?ĂžĂ?ĂœĂ“Ă‹Ë› ã×ÚÞÙ×Ă? Ě™Ă?Ă?Ă? ĂŒĂ?ÖÙå̚ ĂŽĂ?Ă Ă?ÖÙÚ ĂĄĂ“ĂžĂ’Ă“Ă˜ Ă‹ Ă?Ă?ĂĄ ĂĄĂ?Ă?Ă•Ă? Ă™Ăœ Ă—Ă™Ă˜ĂžĂ’Ă? Ă‹Ă˜ĂŽ Ă?Ă‹Ă˜ ĂŒĂ? Ă Ă?ĂœĂŁ ĂœĂ‹Ă Ă‹Ă‘Ă“Ă˜Ă‘ Ă?Ă™Ăœ ÞÒĂ? Ă‹ĘĽĂ?Ă?ĂžĂ?ĂŽ Ă“Ă˜ĂŽĂ“Ă Ă“ĂŽĂ&#x;Ă‹Ă–Ë› Ă—Ă‹Ă“Ă˜Ă–ĂŁ Ă‹ĘĽĂ?Ă?ĂžĂ? ÞÒĂ? Ă–Ă&#x;Ă˜Ă‘Ă? ̙ÚĂ&#x;Ă–Ă—Ă™Ă˜Ă‹ĂœĂŁ ̚˛ Ăž Ă“Ă? Ă?Ă™Ă˜ĂžĂ‹Ă‘Ă“Ă™Ă&#x;Ă? ĂĄĂ’Ă?Ă˜ ÞÒĂ? ĂŒĂ‹Ă?ĂžĂ?ĂœĂ“Ă‹ Ă“Ă? Ă–Ă™Ă?Ă‹ĂžĂ?ĂŽ Ă“Ă˜ ÞÒĂ? Ă–Ă&#x;Ă˜Ă‘Ă?Ë› Ă˜ Ă“ĂžĂ? Ă‹Ă?ÞÓà Ă? Ă?ÞËÞĂ?Ëœ ĂĄĂ’Ă?ĂœĂ? Ă‹ ĂšĂ?ĂœĂ?Ă™Ă˜ËŞĂ? Ă“Ă—Ă—Ă&#x;Ă˜Ă? Ă?ĂŁĂ?ĂžĂ?Ă— Ă’Ă‹Ă? Ă?Ă‹Ă“Ă–Ă?ĂŽ ÞÙ Ă•Ă“Ă–Ă– Ă™Ăœ Ă?Ă™Ă˜ĂžĂ‹Ă“Ă˜ ÞÒĂ? Ă“Ă˜Ă?Ă?Ă?ĂžĂ“Ă™Ă˜Ëœ Ă“ĂžĂ? Ă?Ă&#x;ĘĽĂ?ĂœĂ?ĂœĂ? Ă‹ĂœĂ? Ă“Ă˜Ă?Ă?Ă?ÞÓÙĂ&#x;Ă? ÞÙ ÙÞÒĂ?Ăœ ĂšĂ?ÙÚÖĂ?Ë› Ă’Ă?ĂŁ Ă˜Ă?Ă?ĂŽ ÞÙ ĂŒĂ? Ă&#x;ĂœĂ‘Ă?Ă˜ĂžĂ–ĂŁ Ă?Ă?Ă?Ă˜ Ă‹Ă˜ĂŽ ĂžĂœĂ?Ă‹ĂžĂ?ĂŽ åÓÞÒ Ă?ĘĽĂ?Ă?ÞÓà Ă? Ă‹Ă˜ĂžĂ“ĂŒĂ“Ă™ĂžĂ“Ă?Ă? ĂšĂœĂ?Ă?Ă?ĂœĂ“ĂŒĂ?ĂŽ ĂŒĂŁ Ă‹ ĂŽĂ™Ă?ĂžĂ™Ăœ ÞÒËÞ˪Ă? Ă‹ĂŒĂ–Ă? ÞÙ ĂžĂœĂ?Ă‹Ăž ÞÒĂ? Ă“Ă˜Ă?Ă?Ă?ĂžĂ“Ă™Ă˜Ë› Ă&#x;ĂŒĂ?ĂœĂ?Ă&#x;Ă–Ă™Ă?Ă“Ă? Ă?Ă‹Ă˜ Ă‹ĘĽĂ?Ă?Ăž ÙÞÒĂ?Ăœ ĂšĂ‹ĂœĂžĂ? Ă™Ă? ÞÒĂ? ĂŒĂ™ĂŽĂŁ Ă˜Ă‹Ă—Ă?Ă–ĂŁ Ă‘Ă–Ă‹Ă˜ĂŽĂ? Ă“Ă˜ ÞÒĂ? Ă?ÞÙ×ËĂ?Ă’Ëœ ÞÒĂ? Ă˜Ă?ĂœĂ Ă™Ă&#x;Ă? Ă?ĂŁĂ?ĂžĂ?Ă— Ă‹Ă˜ĂŽ ÞÒĂ? ĂŒĂ™Ă˜Ă?Ă?Ë› Ă™ ĂŁĂ™Ă&#x; Ă•Ă˜Ă™ĂĄ Ă‹Ă˜ĂŁĂ™Ă˜Ă?Ë? Ă?Ă™Ă&#x;Ă‘Ă’Ă“Ă˜Ă‘ Ă?Ă™Ăœ ĂžĂ’ĂœĂ?Ă? ĂĄĂ?Ă?Ă•Ă? Ă™Ăœ Ă—Ă™ĂœĂ?Ëž ĂŒĂœĂ“Ă˜Ă‘Ă“Ă˜Ă‘ Ă&#x;Ăš ÚÒÖĂ?Ă‘Ă—ĂŁ Ă?ĂšĂ&#x;ĂžĂ&#x;Ă—Ëž Ă?Ă™Ă&#x;Ă‘Ă’Ă“Ă˜Ă‘ Ă&#x;Ăš ĂŒĂ–Ă™Ă™ĂŽËœ Ă?âÚĂ?ĂœĂ“Ă?Ă˜Ă?Ă“Ă˜Ă‘ ĂžĂ“ĂœĂ?ĂŽĂ˜Ă?Ă?Ă? Ă‹Ă˜ĂŽ Ă?ËÞÓÑĂ&#x;Ă?Ëž Ă–Ă™Ă?Ă“Ă˜Ă‘ ĂĄĂ?Ă“Ă‘Ă’ĂžËœ åÓÞÒ Ă‹Ă˜ Ă‹Ă?Ă?Ă™Ă—ĂšĂ‹Ă˜ĂŁĂ“Ă˜Ă‘ Ă–Ă™Ă?Ă? Ă™Ă? ËÚÚĂ?ÞÓÞĂ?Ëž Ă?âÚĂ?ĂœĂ“Ă?Ă˜Ă?Ă“Ă˜Ă‘ Ă˜Ă“Ă‘Ă’Ăž Ă?ĂĄĂ?Ă‹ĂžĂ?Ëœ Ă?Ă’Ă“Ă–Ă–Ă?Ëœ Ă?Ă?Ă Ă?Ăœ Ă‹Ă˜ĂŽ Ă’Ă“Ă‘Ă’ ĂžĂ?Ă—ĂšĂ?ĂœĂ‹ĂžĂ&#x;ĂœĂ?Ă?Ëž Ă’Ă‹Ă Ă“Ă˜Ă‘ Ă?ĂĄĂ?Ă–Ă–Ă“Ă˜Ă‘Ă? Ă“Ă˜ ÞÒĂ? Ă˜Ă?Ă?Ă•Ëœ ÞÒĂ?Ă˜ ĂŽĂ™ Ă?Ù×Ă?ĂžĂ’Ă“Ă˜Ă‘ Ă›Ă&#x;Ă“Ă?Ă•Ă–ĂŁË Ă?Ăž ÞÒĂ?Ă— Ă?Ă?Ă?Ă˜ ĂŒĂŁ Ă‹ Ă?Ù×ÚĂ?ĂžĂ?Ă˜Ăž ĂŽĂ™Ă?ĂžĂ™ĂœË Mrs Kehinde Omoru writes from the UK

Unilever, United Purpose Take Handwashing Campaign to Schools Udora Orizu in Abuja International development organisations, Unilever and United Purpose have taken their hand washing campaign to school children in Abuja as part of their hygiene-cautious initiative.

At an event to commemorate the 2018 Global Hand Washing Day in Abuja, the stakeholders said imbibing the culture of hand washing at critical times could cut disease by 50 per cent.

According to the organisations, “Global Handwashing Day is an annual global advocacy day dedicated to increasing awareness and understanding about the importance of handwashing with soap as an easy, effective, and affordable way to prevent diseases and save lives and no fewer than 1,000 school children have been trained to become hygiene heroes, to take

the message of hand washing to their peers and family members towards a healthier and productive lives.�

The Country Director, United Purpose, Mr. Lex Merlijn, said the role that behaviour change plays in hygiene promotion cannot be over-emphasized. He explained that the group has seen that young people have the tendency to effect change when given the opportunity, adding that the concept of hand washing should be propagated for everyone because some diseases have been known to be transmitted by hands to the mouth. “Using children as hygiene heroes are an integral part of the campaign because they take the hand washing message to their peer and family. So far in 2018, we have reached 600 hygiene heroes in Agatu and Logo Local Government Areas in Benue and Yala LGA in Cross River State. In

2017, we reached 200 schools, 46,000 students and empowered 2,130 hygiene heroes.

We have covered nine local government areas and empowered 1,800 hygiene heroes for the Global Hand Washing Day.�

He added that in 2018, the organisation aims to reach more people with the simple message of hand washing that can save lives and reduce hospital bills.

Also, the Managing Director, PZ, Cussons, Mr. Alex Goma said the simple message of hand washing saves lives, would enable everyone around the world have the benefit of good health that comes with clean hands. He said the event symbolises the need for inter-sectoral collaboration to meet the hygiene needs for all Nigerians, which is in line with the goal of the organisation.

Goma said it is also important for everyone to

understand that disease prevention is far cheaper and cost-effective than cure, adding that with a culture of hand washing, a large number of illnesses could be prevented.

Earlier, the Minister of Water Resources, Mr. Suleiman Adamu, said the role hand washing plays in food and nutrition cannot be over-emphasised, adding that it is a recipe for good health.

Quoting the 2017 Multiple Indicator Cluster Survey, he said no fewer than 43.6 per cent of under-five children are moderately and stunted, saying that this impairs growth and development.

He revealed that the federal government has begun the implementation of National Hygiene Promotion Strategy and Implementation Guidelines to garner stakeholders’ participation in improving access to hygiene in the country.

DLA Piper Africa Hosts Third M&A Academy in Lagos International experts, focusing on mergers and acquisitions (M&A), recently gathered at the Lagos M&A Academy to update West African professionals on contemporary trends in global M&A processes and practices.

The one-day event, organised

by DLA Piper Africa, in conjunction with Olajide Oyewole LLP, DLA Piper Africa member firm in Nigeria, held at the Radisson Blu Hotel, Victoria Island, Lagos.

The M&A Academy is the third that DLA Piper Africa has held in Africa and the first in West Africa.

The event was attended by mid and senior level associates working in corporate finance, private equity, in-house legal teams and strategy departments of organisations. The academy provided an overview of the key stages of the M&A process, as well as covering areas such as preliminary agreements, warranties, indemnities and insurance and due diligence.

One of the key discussions centred on the different technical skills-set required for professionals in the Africa M&A market in comparison to global M&A. During the session it was noted

that while the majority of the transactions in Africa relate to buyouts, there is significant investment M&A, specifically: share subscriptions, minority investments or acquisitions, joint ventures and combinations of share sale and subscription transactions. Delegates also discussed opportunities around risk sharing, early stage growth and the availability of financing.

The panel speakers for the M&A Academy provided a mix of local knowledge alongside leading international practitioners, including: Chris Baird, Corporate Partner at DLA Piper in United Kingdom, who focused on M&A processes and preliminary agreements, subscriptions and minority investments; Samuel Salako, Partner at Olajide Oyewole LLP, who shared knowledge on due diligence as it pertains to M&A; Peter Bradshaw, Location Head of Corporate for DLA Piper in South Africa, who focused his discussion on warranties, indemnities and insurance; and, Ashley Zefira, Corporate Senior Legal Consultant at DLA Piper in Dubai, who presented a paper on purchase price.

THISDAYt WEDNESDAY OCTOBER 24, 2018

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CITYSTRINGS

ĂœĂ™Ă&#x;Ăš Ă?Ă‹ĂžĂ&#x;ĂœĂ?Ă? ĂŽĂ“ĂžĂ™ĂœË? Ă’Ă“Ă?Ă—Ă?Ă–Ă“Ă? äĂ?Ă™ĂŒĂ“ Ă—Ă‹Ă“Ă– Ă?Ă’Ă“Ă?Ă—Ă?Ă–Ă“Ă?Ë›Ă?äĂ?Ă™ĂŒĂ“ĚśĂžĂ’Ă“Ă?ĂŽĂ‹ĂŁĂ–Ă“Ă Ă?Ë›Ă?Ă™Ă—Ëœ ͖͕͔͑͑͒͑͒͑͑͘

Waterloo for Cultists in Edo Adibe Emenyonu writes that the spate of cult related killings, which recently resurged in Benin City, Edo State capital, has reduced, following the arrest of 58 suspected cultists

A group of arrested cultists at the Edo State Police Command Headquarters, Benin City

Another group among the 58 arrested cultists at the police headquarters in Benin City

Arms and ammunition recovered from the cultists

The kingpin of the cultists surrounded by his cohorts

R

along Ore-Oghene, where he was eventually killed.

Eyewitnesses say the assailants drove a Toyota Camry car. Our reporter was told that the deceased had received a call in his family house at 6, Basuaye Street, off Ore-Oghene Street, that a costumer was waiting at his shop near the market. He was on the mission to see the purported customer when news came to his family that he has been shot dead.

Even those on their way to church were not safe either. Just last week, gunmen suspected to be kidnappers, were reported to have abducted a yet-to-be identified woman on her way to church.

The incident as gathered occurred on Ogeifa Street, off Mission Road, Benin City, following the killing of another unidentified middle-aged man on same road. It was gathered that the victim was allegedly ambushed by the gunmen on her way to attend the 6:00a.m. mass at the Holy Cross Cathedral Church on Mission Road, one of the biggest Catholic churches in the metropolis.

The attackers were said to have ordered her into an unmarked vehicle and zoomed off before residents could either raise the alarm or come to her rescue. The Assistant Parish Priest, Rev. Fr. Mark Okoh, who was in shock at hearing the news of the abduction, as well as many of the faithful when it was announced during Sunday mass, condemned the incessant criminal activities taking place in the area recently.

ecently, cult related killings seemed to be gradually becoming the order of the day in Benin City, capital of Edo State.

In the past, such killings were usually associated with motor park operators who from time to time engage each other either in a supremacy tussle or sharing formula on the proceeds of park tickets. With removal of ticket collections from these elements, it was expected that such scenarios will fizzle out. This is however not the case as no week passes by without stories of one killing or the other. Most times, the cause of these clashes are shrouded in secrecy.

Blackspots Consistently, all the recent cult activities, be it clashes or meetings have always taken place in certain areas now branded as black spots in the state capital. These areas are Ekenhuan Road by Stadium Road junction, Ekenhuan Road by Akenzua junction, Ekenhuan Road by Asoro junction, Evbuotubu Road, Ugbiyoko, Murtala Muhammed Way by 3rd junction, Murtala Muhammed Way by Uwa junction.

Other identified black spots included Uwasota/five junction/Ibiwe, Siluko Road by Mobil/Traffic light, Siluko by Erhumhunsee, Sapele Road by Ogbelaka/ Agip, GRA(Benoni, Boundary Road, Ihama, Giwa Amu, 2nd Ugbor by BIU junction, Abuja Quarters, Airport Road by Irhirhi, among others.

Series of Attacks According to information gathered by THISDAY, the first attack saw three persons dead. One of the victims was killed on a Sunday at about 1 pm in Iyobosa Street by Sokponba Street. Sources said his assailants first stormed a Pentecostal Church along Eweka Street but did not find him. Determined to gun him down, they were said to have searched for him in other places within the vicinity they suspect he would be. When they finally found him by Third Junction, he ran to Iyobosa street where he was eventually killed.

Similarly, another of the victims was said to have been killed on Isibor Street off Sokponba road while the

third victim was said to have been shot by gunmen in Alohan Junction off Erediauwa by Sapele Road.

While the state commissioner of police's figure was based on the recent events of October 10 to 11, THISDAY however gathered that the killings actually began in September when two persons were reportedly killed in Auchi, Etsako West Local Government Area in a clash between rival cult groups. It was gathered that the initial clashes were between members of the Black Axe and Aiye confraternities. Before members of another group, identified as Maphites, later joined in the fracas.

Within the same time in Benin City, two other persons were also killed in cults’ clashes around Upper Uwa, Isiemwerho between 1st and 2nd East Circular Road, and at Uwhene Ugbague Road axis of Benin, the state capital.

The dead included a patent medicine store owner along Igbei Street and a generator mechanic, before a combined team of police operatives and the local vigilance group were drafted to the streets to restore law and order.

Before then, the streets were deserted and stores closed down when a technician identified as Godbless Olitan was killed by persons suspected to be cultists near Oliha Market in Benin, after he was reportedly chased by his assailants to a building

I have met with the Commissioner of Police and the DSS boss over the increased spate of cult activities in the state and we are deploying resources to ensure that those fuelling the crimes are brought to book. We are committed to a safe Edo and will not tolerate any criminality

Arrests The sudden outbreak of violence no doubt elicited public outcry before the police stepped in to arrest the situation to avoid futher breakdown of law and order.

Addressing journalists at the Police Command headquarters, the stage Commissioner of Police, Mr. Johnson Kokumo, disclosed that 54 suspects have been arrested in connection with the latest cult killings. The Edo police boss who confirmed the killing of eight persons by the various cult groups in the state, also disclosed that some exhibits were recovered from them.

According to him, "there was heightened criminal

activities viz cultism by rival cult groups; the Black Axe, Eiye, Black Mafians, Vikings and Aye within the period of 11 - 12 October this year leading to deaths".

He listed the location where the eight persons were killed as 3rd East Circular Junction, where two persons were hacked to death, Iyobosa street

by Murtala Muhammed Way, Osibodu street by Sokponba road, Alohan street by Sapele road, Guru Maharaji Hotel and Omomo by Tipper garage.

Kokumo said four pump action riffles, seven single barrel cut-to-size guns, one double barrel cut-to-size gun, two battle axes, 45 live cartridge and one Toyota saloon car with registration no: Lagos AKD 467 DV, as some of exhibits recovered from the suspected cultists.

Also listed by the CP were one Nissan Vennet Bus with Reg no: Osun FFE 599 CA; one Nissan Vennet Bus with Reg no: Edo EkP 628 XF; one unregistered Mazda 626 station wagon car, one driver's license, one Permanent Voter (PVC) with name and one photograph that were recovered from the suspects hideout.

To this end, CP Kokumo warned those involved in cult activities in the state to begin to relocate, noting that his command will leave no stone unturned to ensure they are prosecuted when arrested.

He said it was cultists not armed robbers that were on rampage, adding that “We made adequate deployment to key areas, a sizeable number of the cultists have been arrested and a reasonable number of their arms and ammunition have been recovered.

Governor's Vow Also in a statement, Governor Godwin Obaseki through his Special Adviser, Media and Communication Strategy, Crusoe Osagie, vowed to flush out criminal elements from the state after a meeting with heads of security agencies. “I have met with the Commissioner of Police and the DSS boss over the increased spate of cult activities in the state and we are deploying resources to ensure that those fuelling the crimes are brought to book. We are committed to a safe Edo and will not tolerate any criminality,� Obaseki stated.

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CRIME&SECURITY

The New Face of Ikoyi Passport OďŹƒce Rebecca Ejifoma

For the Ikoyi Passport Control Officer (PCO), Manir Yari, a Deputy Comptroller of Immigration (DCI), it was accolades galore from applicants as his reforms have started yielding fruits.

Yari's three-pronged reform process include his customerfriendly approach, reduction in waiting time for passport delivery and curbing the menance of touting in and around the passport office.

THISDAY checks revealed that it now takes less than three days for an applicant without issues in his or her file to procure the International passport, as against what was obtainable in the past.

In the past, as was reported severally by the media, THISDAY inclusive, large number of persons were often seen clustering around the PCO's office over the delay in issuing their international passports.

Recently however, the reverse seems to be the case due to the ingenuity of the PCO and his boss, Muhammad Babandede, the Comptroller General of Immigration (CGI).

Although Yari has won the heart of many applicants with the visible reforms, he however bagged the wrath of few immigration personnel, whose stock in trade is to extort applicants through delay tactics in procuring passport.

During a recent visit to the Ikoyi office, sanity reigned supreme as was collaborated by some officers and applicants.

Speaking on anonymity, one of the senior officers said: "Upon assumption of office, some of the challenges he met on ground were backlog of

files, which had been lying unattended to for several months.

"Other major challenges we faced were epileptic power supply, influx of touts and extortionists and poor channels of tackling complaints.

"One of the major issues however, was the epileptic power supply. In the past, the office had no electricity at all as the Power Holding Company of Nigeria (PHCN) had cut off the light for several months, leaving us at the mercy of only generators.

"Also, with the backlog of unattended files, there was a lot of pressure coming from all cadres of the society for the production of their long awaited passport applications".

It was gathered that this led to massive condemnation from the media, which certainly created an embarrassing image for the Immigration service.

The situation was further exacerbated by the lack of effective mechanism for handling complaints from customers.

Checks also revealed that the lull in production saw the boost of touts, who set about exploiting the situation by extorting money from the applicants.

The unit however has experienced some reformation with the assumption of office of the incumbent PCO. A female senior officer who serves in one of the offices said they have been receiving several commendations from numerous applicants.

She said: "We are very happy about the reforms we carried out. We introduced some reforms for the clearance of backlogs, such as constant supply of booklets from our headquarters in Abuja.

"Addressing electricity

problem by the service, 24 hours operations in the production unit, Saturday operations by the issuance/ collection unit to enable large number of applicants to collect their passports on non-working days, so as to reduce crowd on working days.

"Setting up performance target for the units and individual officers of the units and putting a time frame for the clearance of the back logs.

"Further additional reforms carried out for both sustainability of operations and comfort of the applicants include total clearance of backlogs and waiting for files after capturing, availability of booklets, sensitisation of the entire work force.

"They also include morning enlightenment briefing carried out by the Public Relations Officer to all applicants present, transparent process that is cashless system, processing of passports through the use of POS, which has created window for passport applicants to explore for the ease of doing business.

"The cashless policy has also helped in edging out of tout and touting and has also ensured that there is no delay in the production process, even without knowing anybody.

"We are giving credit for the success of the reforms to the Comptroller General of Immigration (CGI), Muhammad Babandede, who has taken measures to ensure consistent supply of passport booklets.

"It was in line with this that the CGI officially launched the use of POS platform in Ikoyi on July, 2018, for passport fee payment."

Already, the introduction of passport with 10 years validity, which was one of the promises made by the CGI would soon take off.

CRIME SITUATION REPORTS

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Source: Unknown

CONTACTS OF LAGOS CP, OFFICERS 1. CP Imohimi Edgal, Commissioner of Police Lagos State 08033040870 2. DCP Ayuba Elkanah Nabuni Deputy Commissiner of Police Administration 08033422152, 3. DCP Muhammed Ali Ari, Deputy Commissioner of Police Operations 08073666669 4.ACP Mohammed Danladi, Area Commander A, Lagos Island 08034668470 5. ACP Sani Sabo, Area Commander B Apapa 08038452224 6. ACP Godwin Eze, Area Commander C Surulere 08023407772.

7. ACP Akinbayo Olasoji, Area Commander D Mushin 08037140083 8. ACP Yusuf Ajape, Area Commander E Festac 08037073372 9. ACP Ibrahim Zungura, Area Commander F, Ikeja 08052058001 10. ACP Arumse J.D, Area Commander G Ogba 08033464144 11. ACP Miller Dantawaye, Area Commander H, Ogudu 08036695572 12. ACP Felix Oben, Area Commander J Elemoro 08033320682 13. ACP Hope Okafor, Area Commander K Morogbo 08026279242 14. ACP Ishola Olarenwaju, Area Commander L Ilashe, 0810321160 15 ACP Agbaminoja Toyin, Area Commander M Idimu 08081776484 16. ACP Mohammed Ahmadu, Area Commander N Ijede 08055554664 17. ACP Abdulsalam Gazali Alade, Area Commander P Alagbado 08033539984 $41 $IJLF 0UJ 1PMJDF 1VCMJD 3FMBUJPOT 0GĂ DFS 1130

SOURCE: LAGOS STATE POLICE COMMAND

CITIZENS' COMPLAINT LINES FOR FSARS MISDEMEANOUR r %*( %FQBSUNFOU PG 0QFSBUJPOT r *(1 9 426"% -SMS; 0903 227 8905.

- WHATSAPP; 0903 562 1377.

-EMAIL; integrityxsquad@gmail.com. r *(1 .POJUPSJOH 6OJU JHQNPOPUPSJOHBCK!ZBIPP DPN r $1 '4"34 * Force Public Complaint Bureau: 07056792065Calls/SMS/WhatsApp. 08088450152 Calls/SMS/WhatsApp. -Email; bailisfree@gmail.com,pressforabuja@gmail.com, -Twitter; @PoliceNG, -Facebook; www.facebook.com/ngpolice. r1VCMJD $PNQMBJOU 3BQJE 3FTQPOTF 6OJU 1$336

08057000002 – Calls only. 08057000003 – SMS and WhatsApp only.

-Twitter; @PoliceNG_PCRRU, www.Facebook.com/PolicePCRRU. NGOS/CSOS: sega@aliensmedialtd.com,08027757359, koredebello@caspertainment.agency, casperentertainment@gmail.com, 09051133035oluogunsakin@hotmail.com and g.writer2011@gmail. com, 07037887630.

Ikoyi Passport Control OďŹƒcer, Manir Yari, a Deputy Comptroller of Immigration

38

T H I S D AY ˞ ͰͲ, 2018

BUSINESS/MONEYGUIDE

CBN Raises MFBs’ Capital Base to N5bn Nume Ekeghe The Central Bank of Nigeria (CBN) has raised the minimum capital base of microfinance banks (MFBs) in the country, giving them up to April 2020 to recapitalise.

The CBN in a circular issued and signed by the Director, Financial Policy and Regulation Department, Kevin Amugo, increased the minimum capital base of National MFBs to N5 billion, while that of state was increased to N1 billion and Unit MFBs, N200 million.

Prior to the circular, the minimum capital base for national MFBs was N2 billion while state MFBs were then required to have N100 million.

Also, Unit MFBs previously had N20 million minimum capital requirement.

The CBN said the move became inevitable as the sector had been contending with challenges such as inadequate capital base, weak corporate governance, ineffective risk

management practices, dearth of requisite capacity and mission drift. “Given the role of microfinance banks in economic growth and development, the CBN introduced the Microfinance Policy, Regulatory and Supervisory Framework on December 15, 2005 (revised in 201 l). “The key focus of the policy was among others, to increase financial inclusion rate in the country: improve access to financial services for the active rural poor; and pursue poverty eradication.

The banking sector regulator said having reviewed the state of health of the sub-sector, found out that microfinance banks as presently constituted, would be unable to meet the critical targets set out in the microfinance policy, hence the need for specific reforms to strengthen the sub-sector and reposition it for improved performance. “Consequently, the CBN, in exercise of the powers conferred on it by the Banks and Other Financial Institutions Act and

in furtherance of its mandate to promote a sound financial system in Nigeria, hereby increases the minimum capital requirement of microfinance banks. “To meet these requirements, existing microfinance banks are expected to explore the possibility of mergers and acquisitions and/ or direct injection of funds. “The Revised Regulatory and Supervisory Guidelines for Microfinance Banks, Code of Corporate Governance for Microfinance Banks and sector specific Prudential Guidelines for Microfinance Banks would be issued in due course. “Institutions that meet the capital requirements as well as demonstrate the existence of strong corporate governance in their operations would be allowed to open account at the CBN office within their state of operation. Such institutions would also be channels for micro funding activities at the CBN and the Development Bank of Nigeria,� it added.

L-R: Divisional Head, Brand and Communications, Fidelity Bank/President Association of Communications and Marketing Professionals in Banks (ACAMB), Charles Aigbe; Chief Executive OďŹƒcer, Blueower Limited, Chido Nwakanma and Chairman, Lagos State Chapter, Nigerian Institute of Public Relations (NIPR), Olusegun McMedal, at the third Lagos Digital PR Summit that took place in Lagos‌ recently

MARKET INDICATORS

Survey Reveals Decline in Consumer Confidence in Q3 The Consumer Confidence Index (CCI) report released by the NOIPolls for the third quarter (Q3) 2018 has revealed a 6.2 points decline in the CCI to 60-points in the period under review, down from the 66.95 points recorded in Q2, 2018.

The NOIPolls CCI measures how optimistic or pessimistic consumers are regarding their present and future economic prospects.

The drop in the CCI suggests that the spending pattern of Nigerian households declined in Q3, 2018.

According to the report released yesterday, the two variables that made up the CCI -the Present Situation Index (PSI) and the Expectation Index (EI) both experienced a decline.

The PSI declined by 1.4 points from the results obtained in Q2, 2018 to stand at 41.7 points in Q3, 2018, similarly, the EI declined by 9.7-points from the 84.77 obtained in Q2,2018, to stand at 75.1-points.

In February 2014, NOIPolls Limited introduced its portfolio of indices; the NOIPolls Personal Well-Being Index (PWBI), the

NOIPolls Consumer Confidence Index (CCI) and the NOIPolls Eagle 30 Business Confidence Index (EBCI).

The NOIPolls Personal Well-Being Index measures factors impacting on the lives of everyday Nigerians; thereby producing a complete view of the individual’s personal well-being.

The NOIPolls Consumer Confidence Index provides consumer assessments of the economic situation and their intentions and expectations for the future.

UBA Reiterates Commitment to Corporate Governance The United Bank for Africa (UBA) Plc at the weekend honoured four retiring directors while restating its commitment to ensuring strong corporate governance across the group.

The four directors who had collectively served the bank for over 40 years, were celebrated for their remarkable contributions to the group, over the years.

The retired non-executive directors - Mrs Rose Okwechime, Ambassador Kunle Olumide, Alhaji Jaafaru Paki and Mr Yahaya Zekeri - were treated to a cocktail and dinner party attended by top players in the private and public sectors in Abuja.

Speaking at the event, the Group Chairman, Tony Elumelu commended the contributions

of the retiring directors to the bank’s corporate governance policies and the actualisation of its goals and targets. “The bank’s institutionalised corporate governance has attracted more investment, increased its income base, ensuring that UBA impacts the economic and infrastructural developments in Africa. “We are grateful for the contributions of the retired directors and their colleagues on the board,� Elumelu said “Without the support given by the retiring directors, we may not be where we are today.

Their investment and advisory services with the legacy Standard Trust Bank which later grew into today’s UBA, cannot be understated.� Elumelu said.

Also speaking at the event, the Group Managing Director, Kennedy Uzoka said: “Tonight, we are happy but not too happy. We are happy because employees of this financial empire have come together to celebrate some great people who have contributed to building the franchise that we have today. “Four members of our board are leaving because they have achieved the statutory years of service. If not for this fact, we would have held on to them because of the value they have given overtime,� Uzoka said.

Speaking on behalf of the exdirectors, Ambassador Adekunle Olumide thanked the bank for the opportunity given to them to contribute to the growth of the UBA Group.

First Bank to RewardVerve Card Users FirstBank Nigeria Limited has unveiled a reward scheme for customers that use their Verve Card usage in its Free Fuel Friday promotion.

The free fuel Friday promo which was activated by FirstBank in collaboration with Verve International and OVH Energy Marketing, a licensee of the Oando retail brand, commenced on Friday, 19 October 2018 and

is expected to end on Friday, 7 December 2018, between 6am and 8pm. In the promo, for a minimum of N3,000 fuel purchase, FirstBank Verve Card holders would receive five extra litres of fuel for free instantly at selected Oando fuel stations across Lagos. “The Oando fuel stations where the promo will run are Lekki Stillwaters, Alapere, Marina, Ojodu, Maryland, Awolowo

1(by Fire Service), Agege-Bypass, Lawanson, Apapa Dump and Herbert Macaulay Way stations. “Verve card is a secure debit card which allows the card holder to conveniently meet day to day financial needs such as payment for goods and services, airtime recharge, bill payments, funds transfer, etc. It is accepted across all ATMs, POS, Web and Mobile Platforms in Nigeria.

MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

MARCH 2018 Broad Money (M2)

24,303,049.86

-- Narrow Money (M1)

10,912,604.10

---- Currency Outside Banks

1,668,378.21

---- Demand Deposits

9,244,225.90

-- Quasi Money

13,390,445.76

Net Foreign Assets (NFA)

15,619,134.18

Net Domestic Assets(NDA)

8,683,915.68

-- Net Domestic Credit (NDC)

26,267,136.53

---- Credit to Government (Net)

3,823,345.45

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

5,433,209.43

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

-1,609,863.98

---- Credit to Private Sector (CPS)

22,443,791.08

--Other Assets Net

-17,583,220.85

Reserve Money (Base Money)

6,746,646.49

--Currency in Circulation

1,668,378.21

--Banks Reserves

4,357,551.58 Ëž Ă™Ă&#x;ĂœĂ?Ă? Ě‹

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

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

OPEC DAILY BASKET PRICE AS AT MONDAY OCTOBER 22, 2018

The price of OPEC basket of ďŹ fteen crudes stood at $78.68 a barrel on Monday, compared with $78.15 the previous Friday, according to OPEC Secretariat calculations.

The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), ZaďŹ ro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

SOURCE: OPEC headquarters, Vienna

39

T H I S D AY Ëž Í°Í˛Ëœ Í°ÍŽÍŻÍś

MARKET NEWS

Sterling Bank Grows Nine Months ProďŹ t by 39% to N5.9 Billion Goddy Egene Sterling Bank Plc has recorded robust top-line and bottom-line growth for the nine months ended September 30, 2018.

According to the unaudited report and accounts of Sterling Bank, the commercial bank posted 21 per cent and 39 per cent growths in gross earnings and profit after tax respectively.

Gross earnings rose by 21.1 per

cent to N114.6 billion in 2018 compared with N94.6 billion recorded in comparable period of 2017. The top-line performance was driven by growths in both interest and non-interest incomes. Non-interest income rose by 31.2 per cent from N16 billion to N21 billion, while net interest income increased by 7.8 per cent from N36.9 billion to N39.8 billion.

Sterling Bank sustained its steady growth in profitability

P R I C E S MAIN BOARD

F O R DEALS

with profit before tax growing by 29.5 per cent N8.5 billion as against N6.5 billion in corresponding period of 2017, just as profit after tax rose by 39 per cent from N5.9 billion to N8.2 billion. Consequently, earnings per share improved from 21 kobo to 28 kobo.

Customer deposits increased to N723.2 billion by September 2018 from N685.0 billion in December 2017. The bank’s net loans and advances increased

S E C U R I T I E S

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

by 10.7 per cent to N662.0 billion from N598.0 billion in December 2017.

Total assets improved to N1.08 trillion as against N1.07 trillion recorded at the beginning of the year while shareholders’ funds increased from N102.9 billion in December 2017 to N106.2 billion in September 2018.

Commenting on the results, the Chief Executive Officer, Sterling Bank Plc, Mr. Abubakar Sulei-

T R A D E D MAIN BOARD

A S

man said the bank has been able to sustain its steady growth due to focused implementation of its strategic intent of exceeding customers’ expectations.

He noted that the robust growth of 31.2 per cent in non-interest income was driven by a growth in trading and transaction banking revenues, as the bank continues to prioritize efficiency of its digital banking platforms to support its retail drive. “Our strategic intent to be more

O F

customer-focused has continued to yield results; one of such recorded in the last quarter is the increase in the volume of transactions processed through our various electronic platforms since the start of the year. We achieved over one million monthly NIBBS Instant Payment transactions as at July 2018, a 73 per cent increase from the start of the year and expect to see continuing traction in this regard,� Suleiman said.

2 3 / 1 0 / 2 0 1 8 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

40

THISDAYtWEDNESDAY OCTOBER 24, 2018

41

T H I S D AY Ëž Ëœ ÍşÍźËœ ͺ͸͚͜

MARKET NEWS

Minister Advises on Green Bond as FMDQ OTC Hosts Capacity Building Session Goddy Egene The Honourable Minister of State for Environment, Mallam Ibrahim Jibril, has said the opportunities provided by Green Bond funding should be utilised to finance key infrastructure and environmental-friendly projects.

Jubril stated this at the maiden Investor Capacity Building and Training Session in organised by FMDQ OTC Securities Exchange, Financial Sector Deepening Africa (FSDA) and Climate Bonds Initiative(CBI)

The minister, who was represented by Director of Climate Change at the Ministry, Dr. Peter Tarfa, said that the tenets of sustainable finance and indeed, green bonds issuances have come to stay. “Nigeria should leverage the opportunities provided by this formidable partnership which is geared to build a pool of green bond demonstration issues that will be used to finance key infrastructure and environmental-friendly projects,� he said.

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

The session provided a platform to build the required technical capabilities within the investor community to drive green bond investment decisions.

The session, which commenced with a review and activity update of the recently launched Programme had in attendance, Further discussions led by Capital Markets Specialist at FSD Africa, Mr. Victor Nkiiri, and Programme Manager, Africa Markets at CBI, Mr. Olumide Lala, delved into the state of the global green bonds market

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 2210-2018, unless otherwise stated.

and the investment opportunities open to investors.

Challenges to green bonds investment including the requisite documentation and the technical capability required to grow and nurture green investments were also discussed.

In appreciating the market participants and varied green finance stakeholder groups gathered for this maiden investors’ roundtable, , Associate Executive Director at FMDQ, Ms. Tumi Sekoni expressed her delight in the formidable

partnership between FMDQ, FSD Africa and CBI, noting that investors are a critical part of our markets and in no small measure, play a defining role in green investments.

According to Sekoni, the importance of stakeholder engagement across the sustainable and green finance value chain cannot be overemphasised, even as the Nigerian financial market sets to tap the development opportunities availed in this space.

The Director, Financial Markets at FSD Africa, Evans Osano said: “We are delighted to be part of this partnership which will enable investors – the driving force of green growth – to be better equipped to evaluate green investments and thus building the green economy of Nigeria. We hope that other African markets will soon learn from Nigeria’s example and follow suit to enable attractive green investments that will drive sustainable green growth.�

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 N/A N/A N/A ACAP Income Funds N/A N/A N/A AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 12.05% AIICO Balanced Fund 2.21 2.22 -3.90% 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 134.73 135.68 -11.18% AXA Mansard Money Market Fund 1.00 1.00 11.93% 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 10.84% Paramount Equity Fund 11.63 11.93 4.90% Women's Investment Fund 102.13 104.75 1.49% 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 N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund N/A N/A N/A 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 11.80% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 12.20% 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 1,166.64 1,167.37 11.22% FBN Heritage Fund 141.92 142.87 0.67% FBN Money Market Fund 100.00 100.00 12.00% FBN Nigeria Eurobond (USD) Fund - Institutional 4.19% FBN Nigeria Eurobond (USD) Fund - Retail 4.09% FBN Nigeria Smart Beta Equity Fund 151.67 153.82 -4.75% 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 1.23 1.25 -4.90% Legacy Debt Fund 3.18 3.18 10.09% Legacy USD Bond Fund 1.02 1.02 2.09% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Growth Fund 3,004.37 3,034.28 0.63% Coral Income Fund 2,731.57 2,731.57 11.58% GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund 100.00 100.00 12.43% Nigeria Entertainment Fund 105.75 105.87 5.19% 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 12.28% Vantage Balanced Fund 2.14 2.16 1.48%

Vantage Guaranteed Income Fund 1.00 1.00 14.20% Kedari Investment Fund (KIF) 122.50 122.74 6.45% LOTUS CAPITAL LTD ďŹ ncon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.19 1.21 3.85% Lotus Halal Fixed Income Fund 1,072.55 1,072.55 11.21% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 11.48 11.58 -11.49% Meristem Money Market Fund 10.00 10.00 11.56% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.33 1.35 11.43% PACAM Fixed Income Fund 11.94 11.99 8.12% PACAM Money Market Fund 10.00 10.00 12.13% 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 128.50 128.94 -0.92% 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 12.07% 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 2,276.13 2,290.88 3.60% Stanbic IBTC Bond Fund 187.34 187.34 7.59% Stanbic IBTC Ethical Fund 0.95 0.96 -5.45% Stanbic IBTC Guaranteed Investment Fund 243.65 243.69 12.90% Stanbic IBTC Iman Fund 162.09 163.89 -9.50% Stanbic IBTC Money Market Fund 100.00 100.00 11.33% Stanbic IBTC Nigerian Equity Fund 8,615.86 8,721.32 -9.42% Stanbic IBTC Dollar Fund (USD) 1.09 1.09 6.08% 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 1.16 1.17 -1.77% United Capital Bond Fund 1.56 1.56 9.44% United Capital Equity Fund 0.69 0.71 -8.29% United Capital Money Market Fund 1.00 1.00 11.80% United Capital Eurobond Fund 105.33 105.33 5.28% United Capital Wealth for Women Fund 1.08 1.08 3.65% 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 11.25 11.42 -7.09% Zenith Ethical Fund 12.20 12.37 -5.33% Zenith Income Fund 20.46 20.46 10.93% Zenith Money Market Fund 1.00 1.00 11.87%

REITS NAV Per Share

Yield / T-Rtn

9.00 138.63 51.55

-20.11% 4.66% 1.42%

Bid Price

Offer Price

Yield / T-Rtn

10.68 121.86 93.46

10.78 124.45 95.22

-9.85% -14.68% -14.45%

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

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

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

SPECIALIST FUNDS*

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

4.16 7.45 15.36 14.69 144.06

4.20 7.53 15.46 14.89 146.06

-12.15% -22.09% -12.10% -25.17% 7.01%

NAV Per Share

Yield / T-Rtn

105.44

17.63%

FOR HNI & PROFESSIONAL INVESTORS ONLY

Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

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

42

THISDAYtWEDNESDAY OCTOBER 24, 2018

43

THISDAYt WEDNESDAY OCTOBER 24, 2018

Empowering the Teachers

Wednesday, November 28, 2018, 8pm EST

Wednesday, November 28, 2018, 8pm EST

44

THISDAYtWEDNESDAY OCTOBER 24, 2018

THISDAYt WEDNESDAY OCTOBER 24, 2018

45

46

THISDAYtWEDNESDAY OCTOBER 24, 2018

UTILIZATION OF FOREIGN EXCHANGE AS AT 19TH OF OCTOBER 2018 S/N

CUSTOMERS

S/N

CUSTOMERS

S/N

CUSTOMERS

1

DR MRS AYO HARRIMAN

2,500.00 PTA

359.00 15-Oct-18

105

FOYE OPEYEMI TEMITOPE

3,000.00 PTA

359.00 17-Oct-18

209

AGBEYI OLUSOLA ALABA

2,200.00 PTA

359.00 18-Oct-18

2

OMOKHODION OLUFUNKE

AMOUNT (US$) PURPOSE 4,000.00 PTA

359.00 15-Oct-18

RATE DATE

106

ADENUGA A. SAMSON

AMOUNT (US$) PURPOSE 2,000.00 PTA

359.00 17-Oct-18

RATE DATE

210

MALIK RAFIAT OLAMIDE

AMOUNT (US$) PURPOSE 4,000.00 PTA

359.00 18-Oct-18

RATE DATE

3

AKUBUKO C. IKECHUKWU

4,000.00 PTA

359.00 15-Oct-18

107

BADEJO N. TOLUWALOPE

1,600.00 PTA

359.00 17-Oct-18

211

BOLAJI MONSUR ADEBAYO

4,000.00 PTA

359.00 18-Oct-18

4

BEWAJI T. BABAJIDE

2,350.00 PTA

359.00 15-Oct-18

108

SADIQ R. GBOYEGA

1,000.00 PTA

359.00 17-Oct-18

212

SALAMI M. FUNMILAYO

4,000.00 PTA

359.00 18-Oct-18

5

OGUAPU U. ALBANUS

5,000.00 PTA

359.00 15-Oct-18

109

IPAYE O. MORENIKE

2,000.00 PTA

359.00 17-Oct-18

213

FALLYGOLD COLLECTIONS

4,000.00 BTA

359.00 18-Oct-18

6

OKWUAGWU N. FIDELIS

3,000.00 PTA

359.00 15-Oct-18

110

AKANMU O. OLUWATUNMISE

359.00 PTA

359.00 17-Oct-18

214

NWANI T. COLLINS

4,000.00 PTA

359.00 18-Oct-18

7

OLALEKAN FUNMILAYO

4,000.00 BTA

359.00 15-Oct-18

111

JEMIRIYE T. OMOLARA

4,000.00 PTA

359.00 17-Oct-18

215

ANYASI AWELE ANITA

1,000.00 PTA

359.00 18-Oct-18

8

NWOSU P. ELOCHUKWU

4,000.00 PTA

359.00 15-Oct-18

112

OGUNMEKAN E. OLUMUYIWA

4,000.00 PTA

359.00 17-Oct-18

216

IKEM O. IBEABUCHI

5,000.00 BTA

9

TITILOYE T. MICHAEL

1,154.59 PTA

359.00 15-Oct-18

113

IBIWOYE E. OLAMIPOSI

1,500.00 PTA

359.00 17-Oct-18

217

OLUWOLE SAMUEL

5,000.00 BTA

359.00 18-Oct-18

10

BAKARE I. CECILIA

3,973.79 BTA

359.00 15-Oct-18

114

IBIWOYE DOTUN

3,500.00 PTA

359.00 17-Oct-18

218

ONUMA M. OKORO

4,000.00 PTA

359.00 18-Oct-18

11

OBIORAH N. SPLENDID

7,085.19 SCHOOL FEES

359.00 15-Oct-18

115

IMOH N. ODIRICHI

550.00 PTA

359.00 17-Oct-18

219

NWAHIZU CHIJINDU

2,350.00 PTA

359.00 18-Oct-18

12

OLAGUNJU O. KAYODE

8,345.00 SCHOOL FEES

359.00 15-Oct-18

116

GARBA M. GAJERE

2,500.00 PTA

359.00 17-Oct-18

220

MBONU V. NKEIRU

4,000.00 PTA

359.00 18-Oct-18

13

ABE SOLOMON

1,839.70 SCHOOL FEES

359.00 15-Oct-18

117

MBAMALI A. CHIKA

1,000.00 PTA

359.00 17-Oct-18

221

FOUBIRI J. HELEN OKE

2,800.00 PTA

359.00 18-Oct-18

14

NONYE M. OBI

13,595.41 SCHOOL FEES

359.00 15-Oct-18

118

DAGGI NEGBENEBOR JOEL

4,000.00 PTA

359.00 17-Oct-18

222

BALOGUN O ADEOLU

2,200.00 PTA

359.00 18-Oct-18

15

AHMED M. NURUDEEN

3,814.85 SCHOOL FEES

359.00 15-Oct-18

119

EJIMADU S. CHINEMUCHE

1,000.00 PTA

359.00 17-Oct-18

223

BOBMANUEL C. IBIFIRI

4,000.00 PTA

359.00 18-Oct-18

16

OBIH R. UKAMAKA

13,246.00 SCHOOL FEES

359.00 15-Oct-18

120

OKPALAUGO O. FRANCA

700.00 PTA

359.00 17-Oct-18

224

ALAMINA IGBIBO JANE

4,000.00 PTA

359.00 18-Oct-18

AJOSE TEMITOPE

5,000.00 PTA

359.00 17-Oct-18

225

OKENE O. VINCENT

4,000.00 PTA

359.00 18-Oct-18

359.00 18-Oct-18

17

MBAJIORGU A. CHINYELU

5,550.07 SCHOOL FEES

359.00 15-Oct-18

121

18

EKEMEZIE W. NWACHUKWU

10,225.91 SCHOOL FEES

359.00 15-Oct-18

122

UDECHUKWU C. NNEKA

2,000.00 PTA

359.00 17-Oct-18

226

ORJI A. OBIANUJU

2,750.00 PTA

359.00 18-Oct-18

19

ABIOLA MURAINA

14,570.60 SCHOOL FEES

359.00 15-Oct-18

123

KOLAWOLE M. JULIET

2,000.00 PTA

359.00 17-Oct-18

227

OMOJOLE MUJIDAT

5,000.00 BTA

359.00 18-Oct-18

20

CBN

357.00 15-Oct-18

124

ACHEBE SANDRA

2,000.00 PTA

359.00 17-Oct-18

228

OMOIGHE I. PATRICK

4,000.00 PTA

359.00 18-Oct-18

ESANGBEDO D. EDERION

4,000.00 PTA

359.00 17-Oct-18

229

FLOJONNIE NIG. LIMITED

4,000.00 BTA

359.00 18-Oct-18

136,405.71 IMTO TRANSFERRED TO CBN

21

CBN

80,779.51 IMTO TRANSFERRED TO CBN

357.00 15-Oct-18

125

22

BUILDWELL PLANTS & EQUIPMENT

20,000.00 LOAN REPAYMENT

363.99 15-Oct-18

126

SHEKONI MUSTAPHA AJIBADE

4,000.00 PTA

359.00 17-Oct-18

230

NWALIA OMAWUMI

4,000.00 PTA

359.00 18-Oct-18

23

INLAKS COMPUTERS LTD

805,000.00 ATM MACHINES & SPARE PARTS

364.25 15-Oct-18

127

OGUNBAMBI B. OMOWUNMI

2,000.00 PTA

359.00 17-Oct-18

231

AZUBUIKE M. ADAUGO

4,000.00 PTA

360.00 18-Oct-18

24

COUSINS NIG LTD

58,192.80 TOVASTE BRAND DRUM SETS

364.50 15-Oct-18

128

IFEAKOR C. NGOZI

4,000.00 PTA

359.00 17-Oct-18

232

AJAYI C. OLUREMILEKUN

3,000.00 PTA

360.00 18-Oct-18

UNDIE M. AMOKEYE

2,800.00 PTA

359.00 17-Oct-18

233

IGBOKWE C. CHINWE

1,700.00 PTA

360.00 18-Oct-18

25

YOUNG SHALL GROW

364.25 15-Oct-18

129

26

AFRICA GB FOODS

16,576.51 ODORIFEROUS MIXTURES

364.50 15-Oct-18

130

ADEYEMI A. OLUFEMI

4,000.00 PTA

359.00 17-Oct-18

234

OGUNKUADE T. EMMANUEL

1,154.40 PTA

359.00 18-Oct-18

27

AFRICA GB FOODS

25,287.53 INOSINATE DISODIUM GUANYLATE

364.50 15-Oct-18

131

ADEYI AYO JOSIAH

2,000.00 PTA

359.00 17-Oct-18

235

PEARCE A. OLUWAYEMISI

3,993.73 PTA

359.00 18-Oct-18

28

PLASTIMAT LTD

30,000.00 HOMOPOLYMER

364.25 15-Oct-18

132

JATO FREDA OTARIA

359.00 17-Oct-18

236

ELEAZU L. CHINWENDU

515.57 PTA

359.00 18-Oct-18

29

EZEANOCHIE F. CHUKWUWEIKE

5,000.00 BTA

359.00 16-Oct-18

133

SAMUEL L. CHINENYE

4,000.00 PTA

359.00 17-Oct-18

237

KUTI SIMIAT

3,999.99 PTA

359.00 18-Oct-18

30

OMOJOLE O. ALFRE

5,000.00 BTA

359.00 16-Oct-18

134

OKAFOR O. FRANCIS

1,500.00 PTA

359.00 17-Oct-18

238

SOKARI G. TOKUIBIYE

648.25 PTA

359.00 18-Oct-18

31

OMOJOLE MUJIDAT

5,000.00 BTA

359.00 16-Oct-18

135

ISHOLA T. ALAKA

3,000.00 PTA

359.00 17-Oct-18

239

SOKARI G. TOKUIBIYE

1,559.26 PTA

359.00 18-Oct-18

32

KAZEEM I. PATIENCE

500.00 PTA

359.00 16-Oct-18

136

ACHEBE SANDRA

1,948.89 PTA

359.00 17-Oct-18

240

BOB-MANUEL D. KELVIN

3,248.00 PTA

359.00 18-Oct-18

33

SULAIMON F. ABIOLA

620.00 PTA

359.00 16-Oct-18

137

IDRIS ABUBAKAR ABDULKARIM

1,727.17 PTA

359.00 17-Oct-18

241

EDEBEATU C. HENRY

1,949.08 PTA

359.00 18-Oct-18

34

SULAIMON M. AKANBI

500.00 PTA

359.00 16-Oct-18

138

ADESANYA ADENIYI SESAN

1,154.59 PTA

359.00 17-Oct-18

242

OLOWO G. OYINLOLA

3,917.38 PTA

359.00 18-Oct-18

35

ODEWALE A. BILQEES

4,000.00 PTA

359.00 16-Oct-18

139

ADEYEMO I. ADEYINKA

2,892.76 PTA

359.00 17-Oct-18

243

IHIASO R. IHEANACHO

1,306.41 BTA

359.00 18-Oct-18

36

YUSUF P. AMAKA

3,000.00 PTA

359.00 16-Oct-18

140

ALKALI MOHAMMED

3,943.62 PTA

359.00 17-Oct-18

244

EJII MARCUS

3,925.49 PTA

359.00 18-Oct-18

37

OMOBOLANLE O. TUBI

4,000.00 PTA

359.00 16-Oct-18

141

OMODO VICTOR ODO

1,763.37 PTA

359.00 17-Oct-18

245

OLAGBAIYE O. OLUWOLE

2,031.69 PTA

359.00 18-Oct-18

38

AKPO EMMANUEL

4,000.00 PTA

359.00 16-Oct-18

142

SADIQ M. OLUWATOYIN

1,160.19 PTA

359.00 17-Oct-18

246

BROWN W. NENGI

1,452.98 PTA

359.00 18-Oct-18

39

YUSUF S. AWEDA

359.00 16-Oct-18

143

BASHIR IBRAHIM

696.23 PTA

359.00 17-Oct-18

247

MADUKWE O. MICHAEL

40

YAKUBU A. YUSUF

9,656.64 SCHOOL FEES

359.00 16-Oct-18

144

SAFE-ADEWUMI O. ROSELINE

1,163.00 PTA

359.00 17-Oct-18

248

EZE ANENE HENRY

1,850.10 PTA

359.00 18-Oct-18

41

ISA KAITA COLLEGE OF EDUCATION

6,000.00 SCHOOL FEES

359.00 16-Oct-18

145

CHUKWUJEKWU R. NWABUZE

2,928.27 PTA

359.00 17-Oct-18

249

BENNIE FRANKLYN

3,969.36 PTA

359.00 18-Oct-18

42

ODESANMI KOLA

1,000.00 SCHOOL FEES

359.00 16-Oct-18

146

EDIGIN PHILIP

4,878.39 BTA

359.00 17-Oct-18

250

ONYEBUCHI MARK MISHEAL

3,960.08 PTA

359.00 18-Oct-18

43

MUZAN MENES ABINAMI

14,584.90 SCHOOL FEES

359.00 16-Oct-18

147

AGU JANE CHIZOBA

4,000.00 PTA

359.00 17-Oct-18

251

MAKA NKIRUKA IFEYINWA

3,976.46 PTA

359.00 18-Oct-18

44

AFRICAN FOUNDRIES LTD

198,307.10 LOAN REPAYMENT

363.33 16-Oct-18

45

DEEKAY GROUP

185,078.04 UNCOATED PLAIN PAPER IN SHEETS

46

CONSERVERIA AFRICANA

47

CONSERVERIA AFRICANA

48

CONSERVERIA AFRICANA

49

CONSERVERIA AFRICANA

50

CROWN FLOUR MILL LTD

51

CROWN FLOUR MILL LTD

52

MTN NIG LTD

53

CBN

137,780.95 IMTO TRANSFERRED TO CBN

54

CBN

65,350.46 IMTO TRANSFERRED TO CBN

55

OWUMI A. AGNES

56

USIGBE LEON HABUE

57

BASIL IDEGWUOKWUOMA

58

ADESANYA A. SESAN

59

OGUNBOYEJO O. OLUWOLE

60

LAWSON ADUNNI

4,000.00 PTA

61

ADERIBIGBE A. RASHIDI

4,000.00 PTA

62

OKOYE OKWUDILI

3,200.00 PTA

63

SHODEINDE S. OLUSOLA

4,000.00 PTA

457,000.00 ZHONGTONG BUSES

7,570.00 SCHOOL FEES

4,706.26 SODIUM ERYTHORBATE 29,300.08 SOY DIETARY FIBER

4,000.00 PTA

3,302.25 PTA

359.00 18-Oct-18

148

USEH COMFORT SUNDAY

1,299.39 PTA

359.00 17-Oct-18

252

ALLI IDOWU F. AYODEJI

3,977.72 PTA

359.00 18-Oct-18

364.50 16-Oct-18

149

JEGEDE O. ADEKUNLE

3,963.13 PTA

359.00 17-Oct-18

253

OKORO F. UCHE

3,977.72 PTA

359.00 18-Oct-18

364.50 16-Oct-18

150

JEGEDE O. ADEKUNLE

3,963.13 PTA

359.00 17-Oct-18

254

AGGOKABO O. PRISCILLIA

3,993.26 PTA

359.00 18-Oct-18

364.50 16-Oct-18

151

PORBENI FORTUNE

3,898.16 PTA

359.00 17-Oct-18

255

IYINBOR G. OSEMUDIAME

3,999.91 PTA

359.00 18-Oct-18

364.50 16-Oct-18

152

ALA O. ARAMIDE

4,000.00 PTA

359.00 17-Oct-18

256

FELICIA T. UDOFIA

364.50 16-Oct-18

153

AJAYI MICHAEL ADEBAYO

1,306.41 PTA

359.00 17-Oct-18

257

TRINITY INVESTMENT LIMITED

630,424.00 ANIMAL FEEDS MACHINES

364.50 16-Oct-18

154

NWOKOMA U. MARK

915.95 PTA

359.00 17-Oct-18

258

ODETUNDE O. OBADIMEJI

69,557.00 ANIMAL FEEDS MACHINES

364.50 16-Oct-18

155

OGBA D. CHIJIOKE

3,955.24 PTA

359.00 17-Oct-18

259

GEORGE O. OLUSOLA

99,685.71 TELECOMMUNICATION EQUIPMENTS

364.25 16-Oct-18

156

AGENMONMEN EDEWEDE

3,955.24 PTA

359.00 17-Oct-18

260

OSASCO RESOURCES LTD

357.00 16-Oct-18

157

ADETORO ADEDAPO ADETUNJI

3,960.90 PTA

359.00 17-Oct-18

261

CBN

121,211.66 IMTO TRANSFERRED TO CBN

357.00 18-Oct-18

357.00 16-Oct-18

158

PATIENCE ONYEMA EBIKA

3,301.53 PTA

359.00 17-Oct-18

262

CBN

61,335.70 IMTO TRANSFERRED TO CBN

357.00 18-Oct-18

2,200.00 PTA

359.00 17-Oct-18

159

ANYANWU ULOMA

2,641.78 PTA

359.00 17-Oct-18

263

ALOK GUPTA

39,402.98 PERSONAL HOME REMITIANCE

364.50 18-Oct-18 364.50 18-Oct-18

115,008.20 HIGH FRUCTOSE CORN SYRUP 29,800.10 SOY DIETARY FIBER

7,395.50 SCHOOL FEES

359.00 18-Oct-18

10,000.00 SCHOOL FEES

359.00 18-Oct-18

445.00 SCHOOL FEES

359.00 18-Oct-18

7,698.52 ACCOMMODATION FEES

359.00 18-Oct-18

8,952.99 SCHOOL FEES

359.00 18-Oct-18

500.00 PTA

359.00 17-Oct-18

160

AIHAWU M. VICTOR

792.90 PTA

359.00 17-Oct-18

264

GEETA PLASTIC PRODUCTS

62,000.00 ARTIFICIAL RESINS

2,000.00 PTA

359.00 17-Oct-18

161

OYET G. ISREAL

2,643.01 PTA

359.00 17-Oct-18

265

PLUTUS INDUSTRIES LIMITED

35,660.00 INDUSTRIAL RAW MATERIAL

500.00 PTA

359.00 17-Oct-18

162

OGUNBAMBI OLUWATIMILEHIN

1,321.60 PTA

359.00 17-Oct-18

266

WADE MULTI TRADING & BILVIEW

3,700.00 PTA

359.00 17-Oct-18

163

OBOT DAVID TIMOTHY

1,323.09 PTA

359.00 17-Oct-18

267

WADE MULTI TRADING & BILVIEW

359.00 17-Oct-18

164

SADIQ M. OLUWATOYIN

661.54 PTA

359.00 17-Oct-18

268

WADE MULTI TRADING & BILVIEW

359.00 17-Oct-18

165

IDRIS ABUBAKAR ABDULKARIM

1,984.80 PTA

359.00 17-Oct-18

269

WADE MULTI TRADING & BILVIEW

34,153.93 SMART METERS & ACCESSORIES

359.00 17-Oct-18

166

INKO-TARIAH B. EMMANUEL

3,971.11 PTA

359.00 17-Oct-18

270

WADE MULTI TRADING & BILVIEW

299,719.40 SMART METERS & ACCESSORIES

364.50 18-Oct-18

359.00 17-Oct-18

167

AKEREDOLU OLANREWAJU

1,324.40 PTA

359.00 17-Oct-18

271

WADE MULTI TRADING & BILVIEW

228,318.61 SMART METERS

364.50 18-Oct-18

OLUSOPE-OGUNYE OLUBUKOLA

278.17 PTA

359.00 17-Oct-18

272

WADE MULTI TRADING & BILVIEW

21,882.70 SMART METERS & ACCESSORIES 336,235.00 SMART METERS & ACCESSORIES

388,809.44 SMART METERS & ACCESSORIES 66,796.92 SMART METERS & ACCESSORIES 324,084.00 SMART METERS

364.50 18-Oct-18 364.50 18-Oct-18 364.50 18-Oct-18 364.50 18-Oct-18 364.50 18-Oct-18

64

OLUSESI O. MUJEEB

3,100.00 PTA

359.00 17-Oct-18

168

65

ASSANI K. ADIJAT

4,000.00 PTA

359.00 17-Oct-18

169

HUSSEIN S. OLANREWAJU

3,976.46 PTA

359.00 17-Oct-18

273

WADE MULTI TRADING & BILVIEW

66

NGWU MOSES

4,000.00 PTA

359.00 17-Oct-18

170

IJEOMA I. UREKWERE

1,392.20 PTA

359.00 17-Oct-18

274

AKAMAGUNA I. EGUAGIE

4,000.00 PTA

359.00 19-Oct-18

67

NWOKOMA U. MARK

3,000.00 PTA

359.00 17-Oct-18

171

OGUNLESI OLUWASEUN

1,325.91 PTA

359.00 17-Oct-18

275

AKAMAGUNA A. IFECHUKWUDE

4,000.00 PTA

359.00 19-Oct-18

68

VIVIEN O. OFFODILE

4,000.00 PTA

359.00 17-Oct-18

172

AKPAN A. EMMANUEL

1,981.35 PTA

359.00 17-Oct-18

276

IDAMA O. RICHARD

2,000.00 PTA

359.00 19-Oct-18

69

OLATUNJI O. LOLA

4,000.00 PTA

359.00 17-Oct-18

173

OBIBI UJU

1,899.91 PTA

359.00 17-Oct-18

277

AMAYE E. PEDRO

1,000.00 PTA

359.00 19-Oct-18

70

IDOYE S. ONYEKA

1,000.00 PTA

359.00 17-Oct-18

174

EWUMI MURITALA

399.33 PTA

359.00 17-Oct-18

278

ILOANUGO B. OZOR

4,000.00 PTA

359.00 19-Oct-18

71

SHODEINDE G. OLAWUNMI

2,000.00 PTA

359.00 17-Oct-18

175

MBAMALI A. CHIKA

1,464.19 PTA

359.00 17-Oct-18

279

NWADIOGBU C. STANLEY

350.00 PTA

359.00 19-Oct-18

72

IKPADE STELLA

4,000.00 PTA

359.00 17-Oct-18

176

YINUSA S. MORENIKE

3,994.51 PTA

359.00 17-Oct-18

280

BINTA A. MOGAJI-ODULEYE

2,000.00 PTA

359.00 19-Oct-18

73

HASSAN A. HABEEB

4,000.00 PTA

359.00 17-Oct-18

177

ODUSOTE O. TEMITAYO

1,334.01 PTA

359.00 17-Oct-18

281

COLE A. ADEDOKUN

2,100.00 PTA

359.00 19-Oct-18

74

MORGAN I. EVANS

3,000.00 PTA

359.00 17-Oct-18

178

OKEREKE O. MICHAEL

2,601.95 PTA

359.00 17-Oct-18

282

ABDURRAHMAN IBRAHIM

4,000.00 PTA

359.00 19-Oct-18

75

OLOBAYO V. ADEREMI

1,100.00 PTA

359.00 17-Oct-18

179

OMOLOLA O LAWAL

359.00 17-Oct-18

283

IZUKANANWANNE E. NONYE

4,000.00 PTA

76

BASANYA S. ATANDA

700.00 PTA

359.00 17-Oct-18

180

PLUMPTRE O. ADEBANJI

6,089.34 SCHOOL FEES

359.00 17-Oct-18

284

ADETUNBI MUSIBAU

3,480.33 PTA

359.00 19-Oct-18

77

GBADAMOSI A. ANTHONIA

500.00 PTA

359.00 17-Oct-18

181

ISA KAITA COLLEGE OF EDUCATION

3,317.60 SCHOOL FEES

359.00 17-Oct-18

285

ROBERT O. ABIDEMI

462.18 PTA

359.00 19-Oct-18

78

NJOKU P. EKWUTOSI

2,000.00 PTA

359.00 17-Oct-18

182

EMOEDUME ITSKEADELO

359.00 17-Oct-18

286

MADUKWE M. ONYEMA

3,302.22 PTA

359.00 19-Oct-18

79

IJEWERE A. GEORGE

4,000.00 PTA

359.00 17-Oct-18

183

EBONG E. HANSON

359.00 17-Oct-18

287

AKPERE R. OMAMURHOMU

1,982.38 PTA

359.00 19-Oct-18

80

OLATUNDE O. ADEBOLA

4,000.00 PTA

359.00 17-Oct-18

184

CBN

162,222.31 IMTO TRANSFERRED TO CBN

357.00 17-Oct-18

288

AKPERE J. OKEOGHENE

660.79 PTA

359.00 19-Oct-18

81

OKAFOR I. ADAEZE

4,000.00 PTA

359.00 17-Oct-18

185

CBN

85,984.01 IMTO TRANSFERRED TO CBN

357.00 17-Oct-18

289

ONI I. OMOLABAKE

3,446.30 PTA

359.00 19-Oct-18

82

EMOKPAE OSAYANDE

4,000.00 PTA

359.00 17-Oct-18

186

SWEET NUTRITION

5,000.00 ODORIFEROUS MIXTURES

364.50 17-Oct-18

290

OGUNSIJI A. OLUSOLA

1,325.91 PTA

83

OTOKITI O. ELIZABETH

1,500.00 PTA

359.00 17-Oct-18

187

PLUTUS INDUSTRIES LIMITED

84

OJO O. OLATUNDE

4,000.00 PTA

359.00 17-Oct-18

188

PROMASIDOR NIG LTD

85

EZEH N. FEX

900.00 PTA

359.00 17-Oct-18

189

FRANK HENDRIKS

86

OLADOKUN D. OYINLOLA

4,000.00 PTA

359.00 17-Oct-18

190

TINCAN ISLAND CONTAINER

87

OSHODI O. TOYIN

1,500.00 PTA

359.00 17-Oct-18

191

ADEOSO AFOLAKE

88

COKER AKINOLA

3,000.00 PTA

359.00 17-Oct-18

192

ODIAKOSA E. CHINEZE

89

JONAH H. CHUKWUNONSO

1,000.00 PTA

359.00 17-Oct-18

193

90

JONAH H. CHUKWUNONSO

3,000.00 PTA

359.00 17-Oct-18

194

91

COOKEY MINA S O

4,000.00 PTA

359.00 17-Oct-18

92

IJASAN OLERE TRACY

4,000.00 PTA

359.00 17-Oct-18

93

KAZEEM W. ADEYINKA

4,000.00 PTA

94

OBOT DAVID TIMOTHY

95 96

9,000.00 SCHOOL FEES

6,212.16 SCHOOL FEES 10,000.00 SCHOOL FEES

44,800.00 INDUSTRIAL RAW MATERIAL

364.50 18-Oct-18 364.50 18-Oct-18

359.00 19-Oct-18

359.00 19-Oct-18

364.50 17-Oct-18

291

DURU CHINEDU

5,800.00 SCHOOL FEES

359.00 19-Oct-18

291,690.00 COWBELL INSTANT MILK POWDER

364.50 17-Oct-18

292

STELLA & PETER UDEVI

2,940.00 SCHOOL FEES

359.00 19-Oct-18

4,900.00 PERSONAL HOME REMITIANCE

363.00 17-Oct-18

293

P. HARRIGAN & M. ADANGO

14,524.40 SCHOOL FEES

359.00 19-Oct-18

364.30 17-Oct-18

294

WEKPE I. MERIOMAME

4,000.00 PTA

359.00 18-Oct-18

295

YOUSUO AMALANYO

100.00 PTA

359.00 18-Oct-18

296

CBN

110,774.90 IMTO TRANSFERRED TO CBN

357.00 19-Oct-18

UCHE MAUREEN CHINENYE

4,000.00 PTA

359.00 18-Oct-18

297

CBN

67,726.10 IMTO TRANSFERRED TO CBN

357.00 19-Oct-18

OKON-BEN E. MACDON

1,500.00 PTA

359.00 18-Oct-18

298

BANK OF NEW YORK MELLON

195

ADELEKE K. RACHEAL

1,600.00 PTA

359.00 18-Oct-18

299

BUILDWELL PLANTS & EQUIPMENT

196

AWOTUA-EFEBO REGINA

400.00 PTA

359.00 18-Oct-18

300

TRANSCORP POWER

359.00 17-Oct-18

197

MORINHAT O. MOGAJI

3,000.00 PTA

359.00 18-Oct-18

301

MTN NIG LTD

510,167.48 TELECOMMUNICATION EQUIPMENT

364.05 19-Oct-18

2,600.00 PTA

359.00 17-Oct-18

198

NWANKWO MAYAGNES

4,000.00 PTA

359.00 18-Oct-18

302

MTN NIG LTD

89,832.52 TELECOMMUNICATION EQUIPMENT

364.05 19-Oct-18

EDE I. VALENTINE

5,000.00 PTA

359.00 17-Oct-18

199

UDEH STEPHEN AHAMEFULA

4,000.00 PTA

359.00 18-Oct-18

303

PROVIDUS BANK

873,758.56 INTERBANK

UKPONG ANIEKEME

4,000.00 PTA

359.00 17-Oct-18

200

PROF AGUIYI CHINYERE

4,000.00 PTA

359.00 18-Oct-18

304

WEMA BANK

290,627.39 INTERBANK

364.05 19-Oct-18

97

BADMOS D. OPEYEMI

4,000.00 PTA

359.00 17-Oct-18

201

UMUERRI OGHOGHO OMO

2,250.00 PTA

359.00 18-Oct-18

305

GUARANTY TRUST BANK

2,388,542.91 INTERBANK

364.00 19-Oct-18

98

PROF (MRS) ANGELA OKOLO

4,000.00 PTA

359.00 17-Oct-18

202

OKORIE BOMA KELECHI

1,400.00 PTA

359.00 18-Oct-18

306

SKY IND. NIG LTD

99

OMIACHI J. ALHAJI

2,000.00 PTA

359.00 17-Oct-18

203

MOMAH KUBI

4,000.00 PTA

359.00 18-Oct-18

305

GUARANTY TRUST BANK

100

OLUWOLE A. OLANREWAJU

2,700.00 PTA

359.00 17-Oct-18

204

OMETORUWA AUSTINE

4,000.00 PTA

359.00 18-Oct-18

306

SKY IND. NIG LTD

101

IZUAGBA E. BIDE

4,000.00 PTA

359.00 17-Oct-18

205

ASHADE PETER OLADELE

4,000.00 PTA

359.00 18-Oct-18

102

YEATES J. AISHA

4,000.00 PTA

359.00 17-Oct-18

206

JOLAYEMI O. YETUNDE

1,400.00 PTA

359.00 18-Oct-18

103

NJOKU L. ADINDU

4,000.00 PTA

359.00 17-Oct-18

207

AMINU KAFAYAT AYOTUNDE

4,000.00 PTA

359.00 18-Oct-18

104

BABATUNDE F. OLAOLU

3,000.00 BTA

359.00 17-Oct-18

208

OMISAKIN AKINSEINDE

1,000.00 PTA

359.00 18-Oct-18

www.ubagroup.com

700,000.00 SEPTEMBER '18 LEASE FEES

2,970.90 SCHOOL FEES

359.00 19-Oct-18

8,912.70 SCHOOL FEES

359.00 19-Oct-18

484.01 UBA 2018 INTERIM DIVIDEND

363.00 19-Oct-18

10,000.00 LOAN REPAYMENT

364.00 19-Oct-18

2,900,000.00 LOAN REPAYMENT

364.50 19-Oct-18

364.35 19-Oct-18

38,929.09 RELPET PET RESIN 2,388,542.91 INTERBANK

364.40 19-Oct-18 364.00 19-Oct-18

38,929.09 RELPET PET RESIN

364.40 19-Oct-18

Africa’s global bank

WEDNESDAY OCTOBER 24, 2018 ˾ T H I S D AY

47

FOREIGN/DIPLOMATIC AFFAIRS

Khashoggi’s Murder Planned Days in Advance, Says Erdogan Turkish President, Recep Tayyip Erdogan, has said the murder of Saudi journalist, Jamal Khashoggi, was intricately planned days in advance and asked for the trial of the 18 assassins in Istanbul.

Erdogan had promised that his speech in Ankara to party men would give the “naked truth” about the killing and he gave a host of new details while still saying Turkey wanted

answers to key questions, including who gave the orders.

“First they (the Saudis implicated) removed the hard disc from the camera system,” Erdogan said. “This is a political murder,” he added.

Erdogan said that all information, evidence that has been revealed until now showed that Khashoggi was the victim of a “savage” murder, Anadolu news agency reported.

Erdogan said Saudi teams made explorations in Istanbul’s Belgrad Forest and the northwestern province of Yalova before murdering Khashoggi.

Erdogan also said that the Saudi government formally admitted to the killing of Khashoggi 17 days after his murder.

“Vienna convention would not allow such a ‘savage’ murder,” Erdogan said.

“Diplomatic immunity, which is a part of the Vienna Convention, will be opened to debate,” he said.

President Erdogan also proposed that the 18 suspects involved in the murder should stand court trial in Istanbul as the murder was committed there.

“Everyone, those who ordered his murder and those who executed it, should answer

Trump Immigration Bile StirsRepublican Base Ahead of Midterms Unted States President, Donald Trum, is stoking fears about a Central American migrant caravan bound for the US border — a move that seems to be playing to his advantage two weeks before congressional elections by rallying his base and leaving Democrats flat-footed.

Immigration, a hot-button issue over the summer as the Trump administration wrestled with a crisis over the separation of children from their parents who had illegally crossed the border, has roared back.

As voters make their choices for the November 6 midterm elections — decisions that election forecasters say

could swing the House of Representatives back to the Democrats — Trump is seizing the moment.

The issue is campaign manna for the Republican president — and a rather unlikely political lifeline, provided by the trek of thousands of mainly Honduran migrants across Mexico for the US border.

“The Democrat Party is encouraging millions of illegal aliens to break our laws and violate our borders and overwhelm our nation,” Trump told a boisterous rally late Monday in the border state of Texas.

“The Democrats launched

an assault on the sovereignty of our country.”

The response from the other side of the political aisle? Virtual radio silence In his successful run for the White House in 2016, Trump played to Americans’ fears of a border crisis, with migrants ostensibly bringing violence and drugs into the country, to galvanize his supporters.

Now, he has threatened to formally declare the caravan situation a “national emergency” — a move that falls in line with his efforts to make immigration by undocumented migrants a flashpoint issue in November.

To the delight of his base,

he has warned he would close the southern US border with Mexico, and pledged to scrap international aid to Guatemala, Honduras and El Salvador for failing to halt the migrant tide.

He doubled down Monday night, directly accusing Democrats, without evidence, of being behind the formation of the caravan of more than 7,000 people.

Months earlier, he had been forced onto the back foot as the border crisis raged, with Democrats seizing the high ground by assailing the administration’s parent-child separations as inhumane and un-American.

for their doing,” Erdogan said, labelling the killing of Khashoggi a “political murder”.

Erdogan also said anyone from countries other than Saudi Arabia who might have been accessory to the grisly murder should be investigated too.

“It is very important that such a critical investigation should be conducted by a neutral and fair committee,” he said.

Erdogan also said that putting the blame on a few security and intelligence officers would not convince Turkey or the international community.

“Conspiracy attempts against the reputation of Turkey on international media has not and will not stop us from trying to search for facts,” Erdogan said, vowing to unveil all aspects of the Khashoggi murder.

“Turkey, aside from its own sovereign rights, will follow the issue in the name of the international community as a representative of humanity’s common conscience,” Erdogan added.

Separately, Erdogan offered condolences to the family and relatives of Khashoggi.

Hours before Erdogan delivered his speech to ruling party lawmakers, a major Saudi investment forum opened in Riyadh under the heavy shadow of the murder after key delegates

pulled out.

The murder of the Washington Post contributor has damaged the international reputation of Saudi Crown Prince Mohammed bin Salman who has spearheaded a reform drive in the kingdom.

Erdogan did not mention Prince Mohammed by name in the speech but said he was confident of the full cooperation of his father Saudi King Salman in the probe.

Saudi Arabia only confirmed the killing more than two weeks after the event. The killing has alarmed even Saudi Arabia’s staunchest Western allies.

A former royal family insider turned critic of the Saudi crown prince, Khashoggi, 59, disappeared after he entered the Saudi consulate in Istanbul on October 2 to collect a document for his upcoming marriage.

The case has shone the spotlight on the crown prince, who was credited with reforms including giving women the right to drive but is now accused of having ordered Khashoggi’s murder — a claim Riyadh denies.

The timing of the controversy could not be worse for Prince Mohammed as the investment summit, dubbed “Davos in the desert”, began in Riyadh, overshadowed by big name cancellations and Erdogan’s threat of revelations.

SOURCE OF FOREIGN EXCHANGE AS AT 19TH OF OCTOBER 2018 S/N 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71

SOURCE AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS IMTO IMTO IMTO IMTO AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS CBN CBN AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS IMTO IMTO IMTO IMTO AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS

www.ubagroup.com

AMOUNT (US$) 1,000.00 2,400.00 8,000.00 9,000.00 2,000.00 7,300.00 1,575.96 1,722.75 179,751.51 2,122.77 106,597.11 1,108.90 111,700.00 35,000.00 55,086.42 44,067.13 44,067.13 55,086.42 3,000,000.00 3,000,000.00 480.00 700.00 27.13 228.00 483.00 350.00 716.95 925.52 49.00 240.00 3,800.00 159.51 100.00 120.00 96.42 111.28 95.00 1,934.61 318.20 2,650.00 310.00 135.00 5,500.00 334.90 198.69 117.06 1,148.50 68.28 1,378.20 1,033.65 354.95 4,853.63 262.66 131.33 131.33 52.53 262.66 2,087.34 100.00 7,330.00 500.00 50.00 347.95 181,630.71 2,077.22 86,057.78 1,076.16 40,209.00 299,990.00 237,500.00 300,000.00

RATE 362.29 362.08 362.29 362.29 362.29 362.29 362.29 362.29 355.00 355.00 355.00 354.82 362.26 363.00 363.07 363.09 363.09 363.07 357.00 357.00 362.29 362.29 362.29 362.29 362.29 362.29 362.29 362.29 362.29 362.29 362.29 362.29 362.29 362.29 362.29 362.29 362.26 362.26 362.26 362.26 362.26 362.26 362.26 362.26 362.29 362.29 362.29 362.29 362.29 362.29 362.29 362.29 362.29 362.29 362.29 362.29 362.29 362.29 362.26 362.26 362.26 362.26 362.26 355.00 355.00 355.00 354.85 363.00 363.00 363.50 363.10

DATE 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 15-Oct-18 16-Oct-18 16-Oct-18 16-Oct-18 16-Oct-18 16-Oct-18 16-Oct-18 16-Oct-18 16-Oct-18 16-Oct-18 16-Oct-18 16-Oct-18 16-Oct-18 16-Oct-18

S/N 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142

SOURCE AUTONOMOUS INTERBANK AUTONOMOUS AUTONOMOUS AUTONOMOUS IMTO IMTO IMTO IMTO AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS INTERBANK AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS

AMOUNT (US$) 100,000.00 1,000,000.00 50,000.00 26,969.00 6,870.60 213,782.97 2,513.44 113,159.84 1,485.50 100,000.00 65,000.00 31,000.00 70,421.55 1,997.00 1,000.00 1,500.00 1,000.00 900.00 500.00 20.00 1,000.00 40.73 99.82 3,000,000.00 200.00 150.00 1,500.00 50.00 85.00 192.08 39.52 840.00 2,475.00 149.42 335.00 68.19 250.00 400.00 4.36 420.00 95.00 95.53 4,980.00 1,060.00 135.00 450.00 59.15 85.00 5,000.00 803.00 132.32 102.98 202.07 78.59 800.00 84.17 35.21 1,478.00 117.84 363.86 99.43 482.19 95.33 230.00 192.00 68.84 564.89 2,062.49 1,106.87 115.79 343.75

RATE 363.75 363.90 362.00 363.00 362.26 355.00 355.00 355.00 354.80 362.55 362.55 362.55 362.55 362.48 362.48 362.48 362.48 362.48 362.48 362.48 362.48 362.48 362.48 364.05 362.48 362.48 362.48 362.48 362.48 362.55 362.55 362.55 362.55 362.55 362.55 362.55 362.55 362.55 362.55 362.55 362.55 362.55 362.55 362.55 362.55 362.55 362.55 362.55 362.55 362.55 362.55 362.55 362.55 362.55 362.55 362.55 362.55 362.55 362.55 362.55 362.55 362.55 362.55 362.55 362.55 362.48 362.48 362.48 362.48 362.48 362.48

DATE 16-Oct-18 16-Oct-18 16-Oct-18 16-Oct-18 16-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18

S/N 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 201 202 203 204 205 206 207 208 209 210 211 212 211 212

SOURCE AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS IMTO IMTO IMTO IMTO AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS INTERBANK AUTONOMOUS IMTO IMTO IMTO IMTO AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS

AMOUNT (US$) 922.39 137.50 26.14 39.22 173.84 784.23 159,757.39 1,858.15 80,762.47 1,018.46 11,652.00 2,100.00 135.68 70.00 166.46 150.00 200.00 675.00 11.00 1,000.00 390.00 229.00 2,000.00 200.00 1,000.00 500.00 55.57 200.00 820.00 350.00 64.75 979.00 300.00 900.00 1,379.00 696.00 190.00 893.00 77.00 720.00 606.50 1,083.74 102.67 57.04 102.67 798.55 1,301.23 65.06 1,301.23 500,000.00 600,000.00 350,000.00 145,985.32 1,714.54 89,222.13 1,079.33 2,200.00 3,000.00 1,000.00 18,500.00 57,364.00 2,500,000.00 2,500,000.00 300,000.00 246,960.00 207,800.00 240,000.00 300,000.00 94,683.00 11,426.13 94,683.00 11,426.13

RATE 362.48 362.48 362.48 362.48 362.48 362.48 355.00 355.00 355.00 354.88 362.55 362.45 362.45 362.45 362.45 362.45 362.45 362.45 362.45 362.45 362.45 362.45 362.45 362.45 362.45 362.45 362.45 362.45 362.45 362.45 362.45 362.45 362.45 362.45 362.45 362.45 362.45 362.45 362.45 362.45 362.55 362.55 362.55 362.55 362.55 362.55 362.55 362.55 362.55 363.00 363.90 363.00 355.00 355.00 355.00 354.91 362.45 362.45 362.45 362.50 362.54 363.80 363.80 363.00 363.50 363.00 363.50 363.20 362.54 362.54 362.54 362.54

DATE 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 17-Oct-18 18-Oct-18 18-Oct-18 18-Oct-18 18-Oct-18 18-Oct-18 18-Oct-18 18-Oct-18 18-Oct-18 18-Oct-18 18-Oct-18 18-Oct-18 18-Oct-18 18-Oct-18 18-Oct-18 18-Oct-18 18-Oct-18 18-Oct-18 18-Oct-18 18-Oct-18 18-Oct-18 18-Oct-18 18-Oct-18 18-Oct-18 18-Oct-18 18-Oct-18 18-Oct-18 18-Oct-18 18-Oct-18 18-Oct-18 18-Oct-18 18-Oct-18 18-Oct-18 18-Oct-18 18-Oct-18 18-Oct-18 18-Oct-18 18-Oct-18 18-Oct-18 18-Oct-18 18-Oct-18 18-Oct-18 18-Oct-18 18-Oct-18 18-Oct-18 18-Oct-18 18-Oct-18 19-Oct-18 19-Oct-18 19-Oct-18 19-Oct-18 19-Oct-18 19-Oct-18 19-Oct-18 19-Oct-18 19-Oct-18 19-Oct-18 19-Oct-18 19-Oct-18 19-Oct-18 19-Oct-18 19-Oct-18 19-Oct-18 19-Oct-18 19-Oct-18 19-Oct-18 19-Oct-18

Africa’s global bank

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THISDAYtWEDNESDAY OCTOBER 24, 2018

Pat Chidolue

WEDNESDAY OCTOBER 24, 2018 ˾ T H I S D AY

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Buhari’s Alleged Lopsided Security Appointments Split Senators Deji Elumoye in Abuja The members of the Senate were yesterday divided along regional lines over the alleged lopsidedness in the appointment of service chiefs by President Muhammadu Buhari.

The senators from the Southeast accused President Buhari of marginalising the zone.

But the northern senators rose in his defence, saying that the President followed the principle of Federal Character in the appointment into security agencies.

The disagreement followed a motion moved by Senator Victor Umeh (APGA, AnambraCentral) at the plenary, entitled, ‘Urgent Need to Appoint a

Representative of the SouthEast into the National Defence Council and the National Security Council.’

Moving the motion, Umeh quoted Section 153(1)(g) of the Constitution as stating that the NDC shall comprise the President as the chairman, the Vice-President as the deputy chairman, the minister of defence, chief of defence staff, chief of army staff, chief of naval staff, chief of air staff, and “such other members as the president may appoint.”

Umeh argued that while Section 218(2) empowered the President to appoint service and security chiefs, Section 217(3) stipulates that the composition of the armed forces must

reflect the federal character of the country. The provision of this section, he added, was emphasised by Section 14(3) of the Constitution.

According to him, “The Senate is worried that none of the service chiefs as appointed to the National Defence Council and the National Security Council comes from the South-East of Nigeria as firmly

enshrined in the Constitution through the spirit and principle of federal character.

“The Senate is further worried that the defence and security advice relayed to the President by members of the defence and security councils, which exclude security officers from the five states that make up the South-East of Nigeria, may not likely represent fair

and equitable security situation of South-East Nigeria.

“The Senate is aware that there are qualified officers from the South-East to be appointed as service chiefs but none was appointed in the present administration.”

Umeh prayed that the Senate “urge President Muhammadu Buhari to reconstitute the composition of

the membership of the NDC and the NSC to comply with the Federal Character principle enshrined in the constitution” and the President, who is the Commander-in-Chief of the Armed Forces, “to appoint an officer from the South-East as service chief for equitable representation of the people of the south-east of Nigeria” in the NDC and the NSC.

APC Primary Crisis: VON’s DG Accuses Oshiomhole of Nepotism Akeredolu, others plotting against Buhari, Tinubu, Oshiomhole, group alleges Onyebuchi Ezigbo in Abuja The Director General of the Voice of Nigeria (VON), Osita Okechukwu, has criticised the role played by the National Chairman of the All Progressives Congress (APC), Adams Oshiomhole, in the recent primary elections conducted by the party, accusing him of impunity.

In a statement issued yesterday, Okechukwu alleged that the Primary Election Appeal panel constituted by Oshiomhole was made up of his cronies from Edo State.

He said Oshiomhole by his actions is guilty of impunity, circumvention of due process and disrespect to the party.

The VON DG, who contested for the APC senatorial ticket in Enugu West, alleged that there were uncountable members of the gubernatorial, Senate, House of Representatives and House of Assembly panels from Edo State.

“There is no natural justice, equity and fair play when Oshiomhole populated or rather corrupted the primary with his Edo Field Commanders interalia,” he said.

But a group loyal to Oshiomhole, the Federation of Buhari Support Group, stormed the national secretariat of the APC yesterday, accusing six governors elected on the APC’s platform of plotting against the party’s national leader,

Asiwaju Bola Tinubu, and National Chairman, Adams Oshiomhole, and undermining President Muhammadu Buhari’s reelection bid.

The governors being accused by the group are Governor Rotimi Akeredolu of Ondo State; Kayode Fayemi of Ekiti State; Ibikunle Amosun of Ogun State; Nasir El-Rufai of Kaduna State and Jibrila Bindow of Adamawa State.

In what looked like a counter move to shore up support for Oshiomhole, groups numbering seven said they were happy with the leadership style of Oshiomhole.

In a statement jointly signed by the Coordinator of the groups, Alhaji Ibrahim Sikiru, and Publicity Secretary, Gbenga Bojuwomi, the Oshiomhole allies alleged that Akeredolu is leading other five governors in a determined effort to discredit three personalities in APC, Buhari, Tinubu and Oshiomhole.

The group alleged that Akeredolu is not happy with all the actions taken by APC NWC to reunite the party with a view to bringing democracy to the door-step of party members by the adoption of direct primaries for all elections.

The group said a lot of damage has been done underground by the conservative governors to thwart the bright chances of the party in the forthcoming general election.

CONGRATULATIONS ...

L-R: Senate President, Dr. Bukola Saraki; Assistant Editor, THISDAY Newspapers, Mr. Omololu Ogunmade; and Pro-chancellor of University of Benin, Mr. lsa Ashiru, during Omololu’s investiture as the best graduating student of the Institute of Legislative and Democratic Stidies, in Abuja...yesterday

Looters List: Lai Mohammed Not a Judge, Court Tells Dokpesi Alex Enumah in Abuja An Abuja High Court yesterday said the Minister of Information, Lai Mohammed, is neither a judge nor a prosecutor, in the trial of prominent Nigerians over various corruption allegations, hence his mention of certain persons in the federal government list of looters of the country’s treasure is inconsequential.

The court held that what Mohammed said at a world press conference on looters list in March this year has no force of law, and therefore cannot be prejudicial to the trial of anybody.

Delivering judgment in a suit filed by media mogul and founder of Daar Communication Plc, Chief

Raymond Dokpesi, the trial judge, Justice Olukayode Adeniyi, held that mere mention of the alleged looters’ names was not a violation of their rights to presumption of innocence as enshrined in section 36(5) of the 1999 Constitution.

Dokpesi, through his counsel, Chief Mike Ozekhome (SAN), had sued the minister, complaining that his fundamental rights to presumption of innocence was violated by the minister.

The media mogul prayed the court for a declaration that the comment made by Mohammed and widely publicised in the national dailies, electronic and online media was a violation of his rights under the 1999

constitution, and was also prejudicial in his trial in the alleged N2.1billion money laundering trial at a Federal High Court in Abuja.

However, Justice Adeniyi, after reviewing the submissions of both parties, said the minister’s comments were not prejudicial as he is neither a presiding judge nor a prosecutor, and as such, the statement cannot be said to be a violation of section 36(5) of the 1999 constitution.

He further held that the minister’s comment cannot be used to prevent the plaintiff from having his days in court to defend himself from whatever charges that are against him, hence his presumption of innocence has not been violated.

“The defendant has no statutory powers to declare the plaintiff guilty of a charge pending in a trial court hence there is no need to declare the statement credited to Mohammed null and void.

“The comment made by the defendant is a mere allegations of a third party which cannot be used by any court to convict because it has no force of law. The defendant merely mentioned his name for standing trial in N2.1billion alleged money laundering,” the court held.

Justice Adeniyi, however, said the remedy opened to the claimant lies in a different cause of action, and that section 155 of the Penal Code can be invoked to report the alleged statement to police.

Ogun Govt Debunks Rumour of Alleged Death of Shonekan 2019 Polls Won’t Hamper Femi of Nigeria, Chief Ernest presidential election, broke in chat, debunked the rumour Ogbonnikan in Abeokuta both the social and traditional and disclosed that the former 2020 ERGP Target, Says FG Ogun State Government Shonekan.

The news of the death of media yesterday.

Head of Interim National Ndubuisi Francis in Abuja The federal government has declared that the 2019 general election will not hamstrung its Economic Recovery Growth Plan (ERGP) target of 2020, expressing its commitment to focus on delivering the set goals.

Minister of Finance, Mrs. Zainab Ahmed, gave the assurance yesterday as a panelist on the sustainable economic opportunities for Nigeria at the ongoing 24th Nigerian Economic Summit in Abuja.

A statement issued by her media aide, Paul Ella Abechi,

quoted her as saying that the federal government was aware of the sense of urgency and the need for consistency for a sustainable growth of the economy, and that President Muhammadu Buhari had asked them to keep their eyes on the ball and focus on delivering on the ERGP. According to the minister, “For the past four weeks or so, we have been talking to investors and we are sending out a message that the president has asked some of us to just keep our eyes on the ball and focus on delivering on ERGP and the goals that are set.

yesterday dismissed as untrue the alleged death of the former Head of Interim National Government

Shonekan who succeeded ex-military President Ibrahim Babangida, shortly after the annulment of the June 12 1993

But in a swift reaction, the Secretary to the State Government (SSG), Taiwo Adeoluwa, in a telephone

Government of Nigeria is hale and hearty, adding that, “It is a lie from the pit of hell. Baba is alive.”

Finally, Shehu Sani Joins PRP John Shiklam in Kaduna The Senator representing Kaduna Central, Shehu Sani, has finally joined the Peoples Redemption Party (PRP).

His adviser on politics and ideology, Suleiman Ahmed, disclosed this in a statement issued in Kaduna yesterday.

Sani who was initially granted automatic ticket for re-election in 2019 by the National Working Committee (NWC) of All Progressives Congress (APC), recently resigned his membership of the party when the ticket, which was trailed by controversy, was later given to his opponent, Uba Sani.

According to the statement, “It has become impossible for the senator to continue to co-habit with reactionaries and their perfidious and inimical style of politics. “Senator Sani maintains the highest respect and honour for President Muhammadu Buhari. However, we prefer to live in a Cottage of Honour

than a mansion of shame.

“Senator Shehu Sani has returned to the PRP. PRP represents our socialist revolutionary ideology.

“Senator Sani is now free from the toxicity and infamy APC existentially represents. We left the APC for the emperors and their lackeys.”

WEDNESDAY OCTOBER 24, 2018 ˾ T H I S D AY

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Fayemi Denies Collecting N30bn from FG in One Week Ekiti lawmakers begin probe of Fayose’s N10bn budget Victor Ogunue in Ado Ekiti The Governor of Ekiti State, Dr. Kayode Fayemi, has denied the allegation that his government has collected the sum of N30 billion from the federal government within the last one week.

This is coming as the state House of Assembly has set

up an Ad-hoc Committee to investigate the passage of a N10 billion supplementary budget by some members of the assembly at the twilight of the administration of the immediate past Governor, Ayodele Fayose.

Fayemi said he was determined to run an open-door policy where government’s dealing won’t

Imo APC Governorship Primary’s Suit Adjourned Indefinitely Alex Enumah in Abuja The lingering court action challenging the conduct of the All Progressives Congress (APC) governorship primary election in Imo State was yesterday adjourned indefinitely by an Abuja High Court.

The two suits instituted by Hope Uzodinma and Uche Nwosu, who are laying claims to the governorship ticket of the APC, were put off following a petition by the state chapter of the APC, which accused the judge of bias.

At the resumed hearing yesterday, Justice Othman Musa, after allowing lawyers in the suit to announce appearances, read out a petition dated October 22, 2018, which was addressed to the judge, accusing him of bias and favoritism.

The petition signed by Deputy Chairman of the party in the state, Bisike Chinaka, accused Justice Musa, specifically of favouring Uzodinma in the court proceedings by granting orders in his favour.

APC took swipe at the judge for granting an order directing the party to show cause why the name of Uzodinma should not be forwarded to the Independent National Electoral Commission (INEC) as candidate of the party in the 2019 governorship election in the state.

The petition copied the Chief Judge of the Federal Capital Territory (FCT) High Court,

Justice Ishaq Bello, was titled: ‘Judicial Bias, Misconduct and Partiality by the Court’.

It read: “Following the cancellation of the All Progressives Congress (APC) primary election for its candidate for the 2019 Imo State governorship flection, on October 4, 2018, Senator Hope Uzodinma filed an action against the APC and the INEC. “The matter was assigned to his Lordship Othman Musa of Court 13, Bwari Judicial Division. On October 5, 2018, his Lordship made an order that the parties should show cause why the said exparte application should not be granted.

“Therefore, Ugwunba Uche Nwosu also initiated an action in relation to the said primary election for APC candidate for the 2019 Imo State governorship election and matter was assigned to his Lordship Valentine Ashi of Court 23 of Apo Judicial Division.

“His Lordship granted an interim order of injunction on October 9, 2018, against APC and INEC to the effect that they must respectively send and receive Nwosu’s name as the party’s candidate for the election.

“Unfortunately, since this order was made, we have noticed that the proceedings before you which we have keenly watched, appeared to be skewed in favour of Uzodinma instead of both parties being treated equally.

FG to Probe Treasury Single Account James Emejo in Abuja Auditor-General for the Federation (AuGF), Mr. Anthony Ayine, yesterday said a performance audit of the Treasury Single Account (TSA) was underway to, among other things, assess its management.

He said the management of Internally Displaced Persons (IDPs) by the National Emergency Management Agency (NEMA) would also be inspected by the agency.

Speaking in Abuja at the opening of the bi-annual conference of the body of federal and state auditors-general, he also said the audit would seek to determine the effectiveness of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN).

He said the audit justified by the fact that the segments affect

all Nigerians.

Notably, the management of TSA, IDPs and SMEDAN had been subject of criticisms by members of the public recently.

He said auditors have a clear responsibility to present timely, accurate and reader-friendly reports that speak directly to key issues affecting the public purse.

According to him, “I have seen so many examples of audit recommendations that are basically requesting for further clarification to be provided by those to be audited. This is not good enough.

We must ensure our work is of the highest quality and make concise and useful recommendation.”

He said the impact of auditors could only be evaluated by the savings they are able to make for government through recommendation as well as leakages identified, including losses prevented.

be shrouded in secrecy, saying nothing has accrued to the state since he took over from Governor Ayodele Fayose on October 16, 2018. Fayemi was sworn in on October 16 by the Chief Judge of Ekiti State, Justice Ayodeji Daramola.

In a statement by his Special Adviser, Media, Yinka Oyebode, in Ado Ekiti yesterday, Fayemi said: “The attention of Ekiti State Government has been drawn to some malicious reports from some quarters that the new administration has received

N30 billion from the federal government in the last one week.

“We would have ignored this baseless rumour that is being circulated on social media by some unscrupulous individuals, but for the sake of the public that could be misled in the process.

“The fact remains that the new administration has not received any money from the federal government or any of its agencies since its inauguration a week ago.

“As a responsible government that believes in accountability and

transparency, this government will always provide correct information to the people on all its transactions and will not hide anything from the people.

“Members of the public are thereby assured of regular briefings on the finances and developments in the state. The era of government by deceit and falsehood has ended on October 15, 2018.

Meanwhile, the state House of Assembly has set up an Adhoc Committee to investigate the passage of a N10 billion

supplementary budget by some members of the assembly at the twilight of the administration of the immediate past Governor, Ayodele Fayose. The committee has the Deputy Speaker, Hon. Olusegun Adewumi, as the Chairman with Hon. Akinniyi Sunday and Hon Fajana Ojo -Ade as members.

Fayose had in September after the Peoples Democratic Party (PDP) lost theJuly 14 governorship poll sent the supplementary budget to the state assembly for passage.

SET FOR OPERATION CROCODILE SMILE 3...

L-R: Commander, 13 Brigade, Nigerian Army, Calabar, Brig. Gen. COC Ekulide; representative of Chief of Army Staff/General Officer Commanding, 82 Division, Nigerian Army, Maj. Gen. Emmanuel Kabuk, and Cross River State Governor, Prof. Ben Ayade; at the flag-off of Operation Crocodile Smile 3 in Ikang, Bakassi Local Government Area of Cross River State...yesterday

40,000 A’Ibom Traders Back Emmanuel’s Second Term Bid Deborah Orji Traders in Akwa Ibom State have promised to reciprocate the gesture of an interest-free loan granted them by Governor Emmanuel Udom, by supporting and embarking on a unit by unit mobilisation for his second term bid.

Governor Udom, had

earlier approved the release of N2billion, as interest-free loans to the traders to boost trade and commerce within the state.

The governor said the interest rate in the country is high, but “we are making our scheme interest- free to empower entrepreneurs to grow their businesses for more outputs

optimisation.

“This is because if we charge these entrepreneurs interest rate on the loan, it would automatically wipe out their profits, making it difficult for their businesses to thrive.”

In appreciation, no fewer than 40,000 traders under different cooperative societies visited the Government House, to thank

the governor for boosting their businesses through interest-free loans.

Speaking on behalf of the traders, Special Assistant to the governor on Trade and Market Matters, Akparawa Raphael, noted that the benefit of the interest-free loans to the traders could not be overemphasised.

UN RAISES CONCERNS OVER SECTARIAN KILLINGS IN BORNO, KADUNA Areas (LGAs) of Kaduna State to incitement by religious and traditional leaders.

Speaking with THISDAY on the dastardly clashes that took place in Kasuwan Magani, a community in Kajuru LGA on October 8, and a retaliatory attack on Kujama town in Chikun LGA, the Minority Whip and House of Representatives’ member representing Chikun/Kajuru federal constituency of Kaduna State, Hon. Yakubu Umar Barde, said the disturbances were caused by unverified rumours.

However, a former Minister of Defence, Gen. Theophilus Danjuma (rtd), will in January 2019 address the United Kingdom Parliament over incessant killings in North-central part of Nigeria, especially between herdsmen and farmers.

Danjuma was earlier scheduled to speak to select leaders of

the British House of Lords on September 5, 2018 at the instance of two high ranking members of the parliament - David Alton and Caroline Cox, both life peers from Liverpool and Queensbury.

A source close to the former army general told THISDAY last night that the earlier invitation rattled the Nigerian government that it hired foreign lobbyists to scuttle the meeting.

The source added that Danjuma, with the help of some international organisations and former President Olusegun Obasanjo reignited their lobby, which has made it possible for Danjuma to have an opportunity of speaking to the entire members of the House of Lords next January.

The source said the scope of Danjuma’s address will no longer be limited to the herdsmen and farmers clashes, but has now been

expanded to include issues of gross human rights violations and targeted attacks of Christian minorities in the Northern region of the country. The sources said the Danjuma group, the Westminster Institute, Open Doors USA and other prominent leaders from North-central Nigeria have increased their lobby for action on the situation in the country.

Also billed to speak alongside the former Nigerian army chief was the Anglican Archbishop of Jos, Ben Kwashi.

THISDAY gathered that the pressure on the House of Lords may have finally led to the rescheduling of the hearing on the insecurity in Africa’s largest democracy.

A spokesperson for Christian Solidarity Worldwide (CSW), which coordinated the event and circulated invitations for the postponed event had told

a newspaper that the “event was postponed, which is why there have been no reports about it and no record of the event appears on the UK Parliament website.”

Killings along communal and religious fault lines have become recurring decimal in Plateau and Benue States.

In March 24, Danjuma said during the maiden convocation of the Taraba State University in Jalingo, that the Nigerian Army and the police are complicit in the deadly violence. “The armed forces are not neutral. They collude with the armed bandits to kill people, kill Nigerians,” the retired General said. The military, however, denied the allegations but set up an investigative panel to look into the claims.

After nearly a month of investigations, the military said there was no truth in the allegations.

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I Have Strong Relationship with Buhari, Says Amosun Femi Ogbonnikan In Abeokuta

Ogun State Governor, Senator Ibikunle Amosun, yesterday restated that his relationship with President Muhammadu Buhari remains strong and undoubtful, in

spite of the desperation of his political opponents to cause disaffection between them, through unfounded propaganda.

In a statement signed

by Amosun, the governor vehemently denied the

El-Rufai Threatens to Invoke 1915 Law to Curb Kaduna Violence John Shiklam in Kaduna Kaduna State Governor, Mallam Nasir el-Rufai, has declared that the state government would enforce the Collective Punishment Law of 1915 and the Peace Preservation Law of 1917 to curb violence in the state.

Addressing traditional rulers yesterday during an emergency meeting at the Government House, Kaduna, el-Rufai said communities have an obligation to keep the peace, as well as report and expose criminal elements in their midst.

He said “the laws impose costs on communities that permit violence in their midst, obliging community members to be charged and levied monies for the cost of repairing damage done during episodes of violence” He said government intends to encourage peace by vigorously enforcing the various provisions

of the Riots Damage Law of 1958.

“As you are aware, there have been breaches of the peace since Thursday, October 18, 2018, when unrest broke out in Kasuwan Magani.

“The state government promptly imposed a curfew in the area. The loss of lives was staggering- at least 55 corpses were recovered, and the damage to lives and livelihoods considerable.

“A brazen crime was committed. We owe the victims justice, and our state respite from the impunity of those who have arrogated to themselves the authority to wantonly violate lives, livelihoods and the rights of others” the governor said.

According to him: “The necessity to apply the law vigorously is illustrated by the panic and anxiety that spread into our capital city and environs as people spread vile rumours on Sunday, October 21, 2018.

NDDC to Establish Industrial Development Centre in Akwa Ibom We are fathers of all, CAN chairman assures Ekere The Niger Delta Development Commission (NDDC) is to establish an Industrial Development Centre in Uyo, Akwa Ibom State.

The Managing Director of the commission, Mr. Nsima Ekere, announced this on Monday in Ikot Ekpene during the flag-off of the entrepreneurship/agricultural disbursement grants for Akwa Ibom North-West (Ikot Ekpene) Senatorial District initiated and sponsored by the representative of the senatorial district in the National Assembly, Senator Godswill Akpabio.

This is coming as the Chairman of the Christian Association of Nigeria (CAN) in Akwa Ibom State, Rev. Ndueso Ekwere, has stated the neutrality of the apex Christian body in the 2019 gubernatorial election in the state, saying that the organisation is the father of all the aspirants.

Ekere explained that the NDDC was collaborating with the Small and Medium Enterprise Development Agency of Nigeria (SMEDAN) to set up the centre, located opposite Champion Breweries on Aka - Nung Udoe Road, Uyo, with the aim of training, mentoring and empowering the youths of the state for job creation.

Ekere said, “NDDC is about development and creating jobs to banish poverty. This is what NDDC is all about.”

The NDDC boss commended Akpabio for also working with SMEDAN to empower over 400 indigenes of his senatorial district to start businesses.

“What would you have expected from the uncommon Senator,” he said. “Little wonder the people of Ikot Ekpene

Senatorial District declared that wherever you go that they will go with you. I’m not surprised that this senatorial district loves Senator Godswill Akpabio.”

He promised, on becoming governor, to complete the Ikot Ekpene - Uyo Road, to open the Four Points-By-Sheraton Hotel in Ikot Ekpene and to build the international market in Ikot Ekpene, three projects the present State Government had failed to do as promised.

“We must showcase Ikot Ekpene as the commercial city of Akwa Ibom State,” Ekere pledged. “Dry bones shall rise again.”

Meanwhile, the Chairman of the Christian Association of Nigeria (CAN) in Akwa Ibom State, Rev. Ndueso Ekwere, has stated the neutrality of the apex Christian body in the 2019 gubernatorial election in the state.

Leading a prayer session for Ekere, who consulted CAN on Sunday at United Evangelical Church, Ibiaku Itam, Itu, Ekwere made it clear that CAN did not discriminate against any candidate.

His words: “We are fathers of all in CAN. We welcome everybody. We counsel everybody that you do everything with the fear of God.” In his written speech, Ekwere was emphatic on the will of God being done in the contest.

Said he: “In this and every other matter, our prayer is let the will of God be done.. We hand you over to the hands of the Almighty God who knows the intent of the heart of everybody and we say, Lord let Thy will be done in the life of this your son in Jesus name, Amen.”

allegations against President Buhari that are currently trending in social media, which were attributed to his person, and described them as “lies from the pit of hell”.

According to Amosun, “The ultimate aim of the purveyors of these unconscionable falsehoods is to drive a wedge

of discord between me and the President and tarnish my hard-earned reputation. “This hatchet job will not work as Mr. President is discernible enough to know the source(s) of the pack of concocted lies.”

Amosun, however, emphasised that “the relationship between President Buhari and myself

transcends partisan politics.

“Senator Amosun holds President Buhari in the highest esteem and nothing will change that.”

“The target of this grand campaign of calumny is actually our dear President Muhammadu Buhari “For the avoidance of doubt, let me state

categorically that the people trying to cause disaffection between those of us loyal and committed to Mr. President and the success of APC, are plotting to strip Mr. President bare, so that their grand design to achieve unfettered domination of the party would be achieved,” the statement added.

DEVELOPMENT PARTNERS ...

L-R: Chief Executive of Agilent Wireless, Lawrence Anirejuoritse-Wilbert; Project Director, Niger Delta Development Commission (NDDC), Reginald Ihebuzor; Capacity Building Manager, PIND Foundation, Mrs. Bose Eitokpa; Deputy Executive Director, PIND Foundation, Mr. Tunji Idowu; Executive Director, PIND Foundation, Dr. Dara Akala, at the PIND Foundation side session at the 24th Nigerian Economic Summit in Abuja...yesterday

FT Denies Discussing Atiku’s Perceived Corruption with Lai Mohammed Segun James The Financial Times of London has denied the claim by the Minister of Information and Culture, Alhaji Lai Mohammed, that international media organisations he engaged with in London recently, expressed concerns about the emergence of former Vice President, Alhaji Atiku Abubakar, as the presidential candidate of the Peoples Democratic Party (PDP).

The minister had claimed

that the foreign media feared the former vice president’s perceived corrupt past would harm international public perception of the Muhammadu Buhari administration’s war against graft.

But in an email conversation between a THISDAY columnist, Mr. Reno Omokri, and FT, which admitted it was visited

by Mohammed, the paper’s Africa Editor, Mr. David Pilling, denied the minister’s claim.

“Did he really say that?”

Pilling asked Omokri, who

enquired if the perceived corrupt past of Atiku was a subject of discussion during Mohammed’s visit.

Reno had written in the communication, “According to Lai Mohammed he met with the FT in London last week.

From the news report pushed by the APC they are saying that the international media were confused that someone as corrupt as Atiku could be standing given the strength of the anticorruption drive by the current government.

“Is this true?”

Pilling replied, “Is this a parody?,” quoting Mohammed as having told FT as, “The kennel of the visit is that we were able to tell the whole world that we do not need to do anything extra because we have delivered on all our promises and Nigerians are quite happy and satisfy with the government.”

Pilling then queried Omokri, “Besides the word “kennel,” I mean… Did he really say that?”

Don’t Dissociate Yourself from Fani-Kayode, Group Tells Atiku Ugo Aliogo The Middle Belt Patriotic Front, on behalf of other 113 other tribal Groups, has advised the Peoples Democratic Party (PDP) presidential candidate, Alhaji Atiku Abubakar, not to listen to calls by moles of President Muhammadu Buhari who are urging him to disassociate himself from Chief Femi Fani-Kayode.

The group in a statement made available to THISDAY yesterday by the Convener, Ibrahim Bunu, stated that it would be a huge mistake if the Atiku Campaign Organisation listens to such as calls.

Bunu who described the group as faceless in the statement noted that they are urging Atiku to disassociate himself from Fani-Kayode for “whatever reason they conjured out of the figment of their own imagination.”

The statement further said that it is clear from the tone

of the press release issued by these faceless people that the Buhari’s campaign is collapsing, noting that an ill-advised move such as this would bring a total shutdown of Abubakar’s support in the Southern region.

Bunu in the statement added: “We want to state very unequivocally that Atiku has the support of both the Northern and Southern parts of this country. Nigerians are tired of the hunger and terror this administration has unleashed on them. Many who supported PMB have since realized that all he had were empty promises.

“So, for anyone to say Alhaji Atiku Abubakar would lose the support of people from the Northern and South Western parts of the country are the height of absurdly. Chief Femi Fani-Kayode has proven to be a dogged fighter. Braving PMB’s gulag to express bitter truth to power. He could have acted like many who joined

the APC bandwagon out of fear and compromise but he chose to stay on the side of truth. He has shown that his is

a detribalized Nigerian ready to fight for the oppressed regardless of ethnicity and gender.”

AKANNI JEREMIAH ADEJUMO LATE OF MUSWELL HILL, DIED THERE ON 31 MARCH 2017 The kin of the above named are requested to apply to BVD, PO Box 2119, Croydon, United Kingdom CR90 9QU. DX: 325801 Croydon 51 or at www.gov.uk/bonavacantia, failing which the Treasury Solicitor may take steps to administer the estate.

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ÍşÍźËœ ͺ͸͚΀ Ëž T H I S D AY

WEDNESDAYPORTS

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

Aiteo Cup Final: Will Rangers Be FifthTime Lucky?

Duro Ikhazuagbe Enugu Rangers International FC waited for 32 years to end their domestic league jinx two years ago. This afternoon at the Stephen Keshi Stadium in Asaba, the Flying Antelopes have another history in the offing when they confront Kano Pillars in the final of the oldest competition in the country.

Will mother luck smile on the ‘Pride of the Ndigbo’ to end another 35 years wait for the FA Cup now rechristened Aiteo Federation Cup? Is Rangers defeat of defending champions, Akwa United FC, omen of what to expect?

If Gbenga Ogunbote succeeds in leading Rangers to the title, it will be the fifth time the Enugu State owned club will be winning the trophy.

However, the Sai Masu Gida from the ancient city of Kano will not go down without a fight. Both teams parade some of the best players in the domestic scene.

This is why predicting the outcome of the clash on the bank of River Niger appears a tough task.

It’s the 13th time Rangers will be appearing in the final of the competition. Rangers last won the title in 1983.

The Flying Antelopes have appeared in the Cup final five times after defeating DIC Bees of Kaduna on penalties in Lagos to win the 1983 edition and lost all.

The most recent was in 2007 when they lost 3-2 on penalties to the defunct Dolphins FC of

Rivers Angels players and oďŹƒcials celebrating on the podium after defeating Ibom Angels 1-0 to retain the women’s Aiteo Cup at the Samson Siasia Stadium in Yenagoa‌yesterday James Agori/Bayelsa Government House

Port Harcourt after both sides drew 1-1 in regulation time.

Kano Pillars on the other hand have only won the competition once way back in 1953. The Sai Masu Gida last appeared in the final in 1991 when they lost 3-2 to northern rivals, El-Kanemi Warriors at the National Stadium, in Lagos.

Rangers will be led out by

ageless defender Okey Odita, and there are also Semiu Liadi and Isaac Loute, as well as Ugochukwu Ugwuoke, Bright Silas, Ifeanyi George and Ugonna Uzochukwu in the fold of the Enugu team who are capable of making the dream happen.

However, there are also equally dangerous customers on the side of the Kano

team. Pillars’ biggest name on the sheet this afternoon is Junior Lokosa, the 2017 NPFL goal king who came close to making the cut for Nigeria’s 2018 FIFA World Cup final squad.

Odita will be confronted promptly in the tunnel by another ageless performer, midfield ace Rabiu Ali, likely to lead out Pillars, and

artistes like Nyima Nwagua, Emmanuel Anyanwu, Nzube Anaezemba and Hillary Ikenna are match winners on their day. Rangers must also watch out for Joel Djoundang and Ibrahim Alhassan.

To get to this stage Rangers rallied back from a goal down against Akwa United to win the tightly contested encounter with Femi Thomas

saving spot kicks.

They produced similar heroics in the quarter-final, coming back from two- goal down to beat Nasarawa United 4-2.

Pillars similarly proved their class dispatching Enyimba 4-2 in the quarter-final and secured a 4-1 penalty shoot-out win against Katsina United in the last four after regulation time ended in a 2-2 draw.

Enyimba in Tough Duel Zenith Bank/ Delta Principal’s Rivers Angels Retain Cup to Begin Oct 31 Aiteo Cup trophy eight times, more against Raja Juliet Sunday’s 47th minute goal ensured that Rivers Angels successfully defend their title Aiteo Federation Cup yesterday at the Samson Siasia Stadium in Yenagoa.

The champions went through the entire campaign without conceding a goal.

Rivers Angels made it three titles on the trot even as the Orange Girls fought tenaciously against their arch-rivals as they did last year in Jos, only to again fall at the final hurdle against the neighbours.

The Angels of Garden City have now taken home the

U C L R E S U LT S AEK Ajax Hoffenheim Shakhtar Madrid Roma Young Boys Man Utd

0-2 1-0 3-3 0-3 2-1 3-0 1-1 0-1

Bayern Benfica Lyon Man City Plzen CSKA Valencia Juventus

than six-time champions Pelican Stars and four-time winners Ufuoma Babes and Delta Queens.

In fact, Sunshine Queens, who won in 2015, is the only team to have broken Rivers Angels’ stride since their dominion began in 2010. A lively and eye-catching atmosphere could not be dampened by the downpour as music stars Olamide, Simi and homeboy Timaya wowed the crowd at the half time break.

The champions overpowered Bayelsa Queens in Enugu 2-0 in the semi finals, while the girls from Akwa Ibom saw off the challenge of fit-fighting Edo Queens at Owerri’s Dan Anyiam Stadium.

C A F C O N F E D E R AT I O N C U P Enyimba goes into the return leg of the 2018 CAF Confederation Cup semi-final duel in Casablanca, Morocco carrying a goal deficit.

Raja Casablanca appear to have somehow built a reputation for themselves this season, winning matches away from home and then consolidating their victories at home.

In the race to the final, Enyimba must succeed where five other clubs have failed if they hope to shock hosts Raja Casablanca of Morocco this evening.

According to an AFP report culled by Cafonline, Raja goal-

keeper Anas Zniti has gone 461 minutes in the Confederation Cup without conceding a goaAl after letting in one in a qualifier last March.

Enyimba on the other hand dropped its Super Eagles goalkeeper, Ikechukwu Ezenwa, before leaving for the all-important semifinal second leg match away in Morocco.

Theophilus Afelokhai and Ghanaian Dauda Fatau are goalkeepers in the fold of the People’s Elephant as they aim for the tough mission today.

Ezenwa replaced the injured Afelokhai in the first leg against Raja in Aba.

The third edition of the Delta State Principal’s Cup organised for all secondary schools in the state and sponsored by Zenith Bank Plc is scheduled to start next week.

According to the organisers, the preliminaries of the revived annual ‘catch-them-young’ initiative will kick-off on October 31.

The competition which was been grounded for many years came back to life courtesy of Zenith Bank and will be competed for by over 1,200 private secondary schools and 446 public government secondary schools in the state.

On November 1, the preliminaries will start in all the 25 Local Governments in the state with all registered schools

competing for just a single slot in each LG. Commissioner for Basic and Secondary Education in Delta State, Mr. Chiedu Ebie, is expected to play a supervisory role to ensure the smooth-running of the competition which is very dear the heart of Governor Ifeanyi Okowa.

Group Managing Director of Zenith Bank, Peter Amangbo, has assured that the competition this time would be an improvement on the last edition.

Amangbo stated that the bank was always elated to contribute to the development of the youth in the various endeavours in the country.

OBA Elegushi Promises to Change Fortunes of Nigerian Sports

His Royal Majesty Oba Saheed Ademola Elegushi (Kusenla III) who is the youngest monarch in Lagos has promised to change TO N I G H T F I X T U R E S the fortunes of Nigerian Brugge Vs Monaco sportsmen and women in Dortmund Vs Atletico PSV Vs Tottenham international events in their quest to win laurels for the Barca Vs Inter country. Elegushi made Liverpool Vs Zvezda the pledge yesterday at the PSG Vs Napoli investiture ceremony of new Galatasaray Vs Schalke Patrons of the Nigeria Olympic

Committee (NOC) which held at the Ikate Kingdom of the Oba. The eminent personalities who were inducted yesterday in a ceremony that was graced by kings and kingmakers, and members of the diplomatic corps include; Oba Elegushi; Former Governor of Lagos State and National Leader of the All Progressives Congress (APC) Asiwaju Bola Ahmed Tinubu; Mrs. Kofoworola

Nwokedi, Sir Marc Inyanagbo Wabara, and former Governor of Delta State, Dr Emmanuel Eweta Uduaghan.

Oba Elegushi said that the coming of the distinguished and eminent persons as patrons will bring a positive change to Nigerian sports.

Present a the ceremony included a galaxy of former Nigerian sports stars including; Nwankwo Kanu, Joseph

Yobo, Obafemi Martins, Samson Siasia, Waheed Akanni, Chioma Ajunwa, Chief Falilat Ogunkoya-Omotayo, Olumide Oyedeji, Henry Amike, coaches Joe Erico, Fatai Amoo, and award-winning Paralympians Kehinde Paul, Bose Omolayo and Onye Lauritta. Presidents of sports federations were in their numbers and added to the colour.

President of the NOC Habu

Gumel applauded the selection process that led to the identification of the iconic and deserving individuals in Nigeria who will carry the ambassadorial banner as patrons. Gumel who is also an Executive Member of the International Olympic Committee (IOC) highlighted the philosophy of Olympism noting the qualities of body, will and mind to impact humanity positively.

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Wednesday October 24, 2018

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US Envoy to FG

“What many consider as the great corruption is stealing of money but what to me is the great corruption is when people are deprived of justice, when you do things without regard for the rule of law,” – United States Ambassador to Nigeria, William Stuart Symington, stating that injustice and disregard for the rule of law are worse than the stealing of public funds.

KAYODEKOMOLAFE THE HORIZON

kayode.komolafe@thisdaylive.com

0805 500 1974

Who is in Charge? Market or Government?

T

he theme of the 24th National Economic Summit, “Poverty to Prosperity: Making Governance and Institutions Work,” is indicative of a trend which is both theoretical and practical at once. Although the economic summit ended yesterday in Abuja, the political question implicit in the theme should continue to be of interest in this season of electioneering.

This is because of the fact that increasingly there is the realisation that in significantly tackling poverty, purposeful governance has a central role to play. The interplay of market forces alone will not lift the people out of poverty in their millions.

Again, the primacy of political leadership has come to the fore. At least, this is what the universally acclaimed success stories of China, in the east, and Brazil, in the west, have eminently shown.

In the previous 23 summits, the Nigerian Economic Summit Group (NESG), an important advocacy platform, has made rich submissions on how to develop a “private sector-led economy.” The group has been influential in drawing the various “visions” for Nigeria. This self-assigned task has been performed with unmistakable resilience. In fact, there was once a “vision” prepared when a military regime was in power and the civilian administration that succeeded the regime never touched the “vision” because anything concerning the previous regime was a sore point to the succeeding administration. Yet, in almost a quarter of century, members of the group have commendably played the role of a think tank investing immense energy, time, resources and passion in the process. Year after year, great ideas have been harvested on this private sector platform. However, there remains a huge political question about the application of the ideas. That question still remains unanswered. It would appear that the theme of this year’s summit is a good effort to answer the question. Besides, there is an ideological problem about the way the question has been posed in the first place in Nigeria. Capitalist development is often misconstrued as a pure market process.

By the way, the emergence of the NESG coincided with the period in the 1990s when there was a lot of buzz about globalisation. In public discussions about economic policy direction, little attention is given to the fact the globalisation is itself riddled with enormous contradictions. All that is important to our technocrats was that the Nigerian economy should respond to the currents of globalisation (or more appropriately global capitalism) and be “competitive as an emerging market.”

The global financial crisis that broke out a decade ago, has, however, tempered the mantra of “market is the solution.” The recklessness of some financial capitalists in the west caused what is now referred as to the Great Recession.

The point at issue here is that the discussions that took place at the summit are again essentially part of a global trend.

And this should be noted as significant.

Even at the level of theory, not a few

Buhari

scholars are rethinking the respective roles of the market and government in poverty eradication. The question now for even some liberal theorists is how to judiciously allocate the respective roles for market and government.

For instance, the caption of this column today is borrowed from a chapter in a recent book by one of such scholars, Professor Paul De Grauwe of the London School of Economics.

In answering the question of who is in charge of economic development, Grauwe puts the matter like this: “The old discussion as to whether the market is more important than government or vice versa is pointless.

The only question worth asking is how the division of labour between market and government can best be organised. This division of labour must start out from the ideas… that both market and government have their limits.” In the book entitled The Limits of the Market: The Pendulum Between Government and Market, Grauwe, who is also a former Belgian parliamentarian, proposes a mixture of market and state in the organisation of any economy in which both sides should be sensitive to the swinging of the pendulum.

For clarity, Grauwe’s outlook is far from being socialist, much less Marxist, and his book is definitely not a 2018 version of the Communist Manifesto. The professor’s premise is that “centrally planned economy” has not worked and also that “pure market systems do not exist anywhere.” According to him, “neither succeeds in creating material prosperity for a large proportion of the population (in the case of a market economy) or even for the population as a whole (in the case of a centrally planned economy).”

From an undisguised liberal viewpoint, Grauwe demonstrates the ‘limits” of both the government and market in economic management. That is something to think about seriously in the craving for a transition from poverty to prosperity for the people.

It is, therefore, timely that the reputable think tank, NESG, has focussed on governance and institutions as the polity

gears up to full-blown campaigns for the next year elections. That is why the debate of issues of the election being advocated in this column should go beyond the appearance of candidates on television for a few hours.

Presidential debates are important. But the more rigorous and extensive debates are the ones to take place among public intellectuals, technocrats, experts and others who have policy preferences. In their legitimate support for their preferred candidates public intellectuals should lead in focussing on the issues. This is a role different from that of a rabid party publicist who is mainly preoccupied with the canonisation of his party’s candidate while demonising that of the opposing party. The debate should not be saturated with insults and abuse of political personalities.

In a rigorous debate on how to tackle poverty, you may find that there are even those on the Right of economic reasoning who are now convinced that you cannot simply leave economic management to “market forces.” After all, as the Independent Electoral Commission (INEC) prints the ballot papers for the 2019 elections, it is certain that there will be no political party called “market forces” to be voted for in the election.

So, those saddled with the task of preparing the strategies and manifestoes for the candidates should be cognisant of the global trend. It is not enough anymore to talk of a “private sector-led economy” as an economic strategy.

That doesn’t say much in the task of confronting poverty. The logic of the management of a political economy is not the same as that of the operation of a Public Limited Company (PLC). The measurement of success in both tasks is

also vastly different.

After all, one purpose of election is to put a government in charge of economic management. Ideally, a president is supposed to be elected having canvassed the efficacy of his economic strategy. The president then puts together a team to operate the institutions for economic management. So, pondering the question of who is in charge of economic management for the purpose of delivering public goods is important.

This year’s theme of NESG should inform the debate. The “wealth creation” role of the private sector can only be optimally performed in an atmosphere of effective governance as experience has shown. To start with, public safety and order is the business of the state.

Besides, in the critical anti-poverty targets such as quality education, universal healthcare, potable water, social housing, mass transit, sanitation etc. public investment is imperative. These are not issues a peopleoriented government can afford to leave to market forces to solve. It would be socially and politically irresponsible to do so.

The debate should be diligent and informed. Some of the assumptions on the roles of both the private sector and the state should be clinically interrogated by the experts and public intellectuals taking part in the debate. The record of the Public – Private Partnership (PPP) experiments should be examined to know how efficacious they have been in solving funding problems.

So, let there be fresh ideas on the big issues of the time coming from the political parties and their candidates. It is important that every political party and its candidate should provide a categorical answer to the question: Who is in Charge?

Minimum Wage is a National Issue

By Femi Falana There is no state government in Nigeria that cannot pay minimum wage if priorities are reordered.

Not too long ago, roads were constructed and maintained by ministries of works while ministries of housing built houses. The houses were sold at commercial rates. Government had extension farms, which produced food in abundance. Books were published by government printing press. Even ministries of justice handled government cases.

But now, contractors and consultants who are billionaires have taken over the business of running our government.

These and many others are the reasons why state government claim they cannot pay minimum wage.

Even in the United States, the bastion of bourgeois democracy and federalism, state governments do not fix minimum wage.

In 2009, the American federal government mandated the payment of a nationwide minimum wage of $7.25 per hour. Since then, no fewer than 29 states have been paying a higher minimum wage than the amount fixed by the federal government.

Under the current democratic dispensation in Nigeria, the National Assembly fixes the

Nigeria Labour Congress (NLC) President Ayuba Wabba minimum wage as labour (including minimum wage) is in the exclusive legislative list.

However, state governments are at liberty to fix allowances payable by them.

Those who want state governments to pay what they can afford conveniently forget that the salaries and allowances of governors and legislators (federal and state) in Nigeria are the same as the Revenue Mobilisation Allocation and Fiscal Commission fixes the pay of these categories of public officers, even though state legislative houses fix their security votes and pension.

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