MONDAY 12TH NOVEMBER 2018

FG, Investors Negotiate Fresh Terms on Sale of Power Stations Chineme Okafor in Abuja As the federal government resumes privatisation of some national assets, THISDAY learnt at the weekend that negotiation of fresh terms has begun with preferred bidders of three power

generation plants of the National Independent Power Projects (NIPPs) that have been slated for sale. The power plants to be sold in the first phase of the resumed assets sales are 630.5 megawatt (MW)-capacity Calabar power station;

504MW-capacity plant in Geregu, Kogi State; and the 518MW-capacity plant in Omotosho, Ondo State. The preferred bidders are EMA Consortium, which initially won the NIPP Calabar Genco at $625 million; Omotosho Electric Power,

which won Omotosho Genco at $659.9 million; and Seoul Electric Power Ltd that won that of Geregu Genco at $690.2 million. The three Gencos were built and currently being managed by the Niger Delta Power Holding Company Limited

(NDPHC). THISDAY gathered from reliable sources that in the resumed negotiations, factors such as sources of funds to finance the acquisition; operational statuses of the three plants; and the financial liquidity challenge of Nigeria’s

power market have been key priorities to both government and the investors. Ten Gencos built under the NIPPs by the NDPHC were initially slated for sale in 2014, but factors, which comprised Continued on page 8

$7bn Project: FG Warns NLNG against Violating Local Content Law… Page 8 Monday 12 November, 2018 Vol 23. No 8608. Price: N250

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Outrage over Search of Atiku, Private Jet by Security Agents Says check aimed at intimidating him FG: It was routine exercise PDP, Adebanjo, Nwodo, Fani-Kayode, others react Deji Elumoye, Onyebuchi Ezigbo, Shola Oyeyipo, Adedayo Akinwale in Abuja and Segun James in Lagos A cross section of Nigerians and groups yesterday reacted angrily to the search conducted by security agents on the private jet of former vice president and presidential candidate of the Peoples

Democratic Party (PDP), Alhaji Atiku Abubakar, at the Nnamdi Azikiwe International Airport in Abuja. Atiku, who landed around 1:30a.m, said he arrived into the waiting hands of special security squad comprising army, police, customs and immigration officers, which Continued on page 8

Okorocha Replies Oshiomhole, Says APC Chairman is ‘Father of Nepotism’ Party to appoint caretakers for Rivers State Onyebuchi Ezigbo in Abuja The spat in the All Progressives Congress (APC) over its recent primaries is not abating as Governor Rochas Okorocha of Imo State yesterday threw some jabs at the party’s National Chairman, Mr. Adams Oshiomhole, accusing him of nepotism.

The national chairman had at the weekend explained that the governor, along with three others, had been offended by his refusal to do their biddings, specifically saying Okorocha was particularly angry because he had refused to assist him to establish a political dynasty Continued on page 8

EFCC Confirms Plan to Extradite Alison-Madueke... Page 8

TALKING GLOBAL PEACE... L-R: President Muhammadu Buhari; President of Colombia, Mr. Ivan Duque Marquez; and President of Portugal, Mr. Marcelo de Sousa, at the Paris Peace Forum in Paris… yesterday

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EFCC Confirms Plan to Extradite Alison-Madueke

Davidson Iriekpen

The Economic and Financial Crimes Commission (EFCC) has confirmed that the process for extraditing a former Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, from the United Kingdom has begun. Acting spokesman of the commission, Mr. Tony Orilade, disclosed this yesterday in Abuja. There have been calls from different quarters for the extradition of the former minister over several allegations of impropriety against her.

According to Orilade, EFCC’s Operations Department has made presentation to the agency’s Legal Department to commence the process, adding that the process has commenced. He, however, said that the action had to be processed through the office of the Attorney-General of the Federation, explaining that it was not something the commission would commence and conclude on its own. He said, “It is ongoing. Within the next few weeks, the extent to which we have

gone will be made known to the public. “It is not a fresh case; it is not a fresh petition that is just being looked into; the whole process is a total package. “This extradition is just an aspect of Diezani’s investigation and commencement of trial.� Alison-Madueke, who is being investigated in the UK, had urged the Federal Government to bring her back to the country to face corruption charges against her. But, the Minister of Justice and Attorney-General of

the Federation, Abubakar Malami, had said that bringing her back to the country would jeopardise the investigation being carried out on her in the UK. He had explained, “Steps have been taken by the United Kingdom authorities on issues bothering on corrupt practices involving Nigerians. “If Nigeria feels strongly that there is need to bring Alison-Madueke here to face charges of corruption, government will not hesitate to do that. “As things stand now, there is no need for that

since the UK Government is already investigating her.’’ The EFCC spokesman could not, however, say the point at which it became necessary to seek extradition of the former minister. In October, 2017, Malami had said that Nigeria had no immediate plan to bring Alison-Madueke back home to face trial. In the same year, a Federal High Court in Lagos ordered the final forfeiture of N7.6 billion alleged loot recovered from the former minister to the federal government. Justice Abdulazeez Anka granted an application by

the EFCC seeking the final forfeiture of the money to the government. Granting the application, the judge had said, “I have read the motion on notice seeking the final forfeiture of the sum of N7.6 billion reasonably suspected to be proceeds of unlawful activity. “I have also gone through the affidavit in support of the application. “In the circumstances, I am of the view that the application has merit and is hereby granted as prayed. Parties have a right of appeal.�

the party said security agencies should probe the real motive behind the trip. He said, “There is more to the meeting than meets the eye. Nigeria has enough meeting/conference rooms, many of which meet international standards. It is, therefore, clear that the Dubai meeting was for other sinister political purposes ahead of the 2019 general elections. “Our intelligence, anti-graft

and security agencies must be awake to their responsibility of investigating the Dubai meeting. Cash-and-carry politicians must be prevented from moving illicit cash around to induce voters and sponsor election violence and rigging.� Reacting to the incident, the PDP condemned it in strongest terms. The party in a statement yesterday by its

Oshiomhole had said that a fresh congress would be held to choose new sets of party executives at all levels in the state. However, it was learnt that the party had been trying to reconcile the warring factions and see how it could unite the two groups under the Minister of Transportation, Mr. Rotimi Amaechi, and Senator Magnus Abe. A reliable party source told THISDAY yesterday that as part of moves to resolve the intra party crisis in the state, the national leadership has considered offering its Senate ticket to Abe. "The NWC is offering to grant Abe the Senate ticket using the substitution window so that he can accept to work with Mr. Tonye Cole as the governorship candidate," he said. Although the Abe-led faction was said to have rejected the offer, the source said the party had enlisted

the presidency and some governors to intervene in resolving the dispute. There were fears that if the issues were not amicably resolved it might lead to further litigation, which could threaten APC's participation in the governorship and legislative elections in 2019. Efforts to get the party to confirm when the new caretaker committee would be in place was not successful as there was no response to both calls and text messages sent to the National Publicity Secretary of the party, Mallam Lanre Isa-Onilu. The Supreme Court had nullified the May 19 to 21 congress of the APC in Rivers State. The apex court described the conduct of the congress as a “serious violation of court order,� referring to an order of the High Court, which was ignored while conducting the APC congress in the state.

OUTRAGE OVER SEARCH OF ATIKU, PRIVATE JET BY SECURITY AGENTS carry out a thorough search on his aircraft. Those who reacted to the incident included the PDP, leader of the Pan-Yoruba socio-cultural group, Afenifere, Chief Ayo Adebanjo; President of Ohanaeze Ndigbo, Chief John Nnia Nwodo; PDP chieftain, Chief Olabode George; former All Progressives Congress (APC) Deputy National Publicity Secretary, Mr. Timi Frank; Senator Ben

Murray Bruce; and former Minister of Aviation, Chief Femi Fani-Kayode. But the federal government, in a statement by the Minister of State for Aviation, Senator Hadi Sirika, said the search was a routine exercise that Atiku had misrepresented to the public to grab headlines. The former vice president had relocated to Dubai immediately after he won his party’s presidential

ticket, saying the aim was to “strategise� for the 2019 presidential election. It was learnt that video recording gadgets and other devices were used to record the search but nothing implicating was found on the PDP presidential candidate. Atiku had broken news of the search on his Twitter handle, “I arrived to Abuja this morning to a search by agents of the state, aimed at intimidating me and my

staff. “I am committed to building a Nigeria where no citizen is intimidated by agents of state who are paid to protect them. Together, #LetsGetNigeriaWorking Again.� The ruling APC had last week called on security agencies to probe the former vice-president over his trip. In a statement signed by its Deputy National Publicity Secretary, Mr. Yekini Nabena,

Continued on page 10

OKOROCHA REPLIES OSHIOMHOLE, SAYS APC CHAIRMAN IS ‘FATHER OF NEPOTISM’ in Imo State. But Okorocha reacted to this charge of nepotism yesterday in a statement by his Chief Press Secretary, Mr. Sam Onwuemeodo, and said it was Oshiomhole that was the “father of nepotism,� accusing him of promoting his relations into several political offices in Edo State. “To say the least, Adams Oshiomhole is the “father – father� of family dynasty or nepotism or “familiocracy,� he said, refuting the allegation that he was sponsoring his family members to take over Imo State. He explained that his preferred, Mr. Uche Nwosu, though his in-law, was not from the same local government with him. “Uche Nwosu is from Nkwerre Local Government Area, while Rochas Okorocha is from Ideato South Local Government Area,� adding, “They have no relationship aside the in-law issue.� He explained that the

only relation he had in government was Mrs. Ogechi Ololo from Owerri North. “There is no other direct or indirect relation of Okorocha in his government. So, as it stands now, Rochas is the only Okorocha running election,� he explained. On the other hand, he said, the party chairman had allegedly fixed his direct relations in government position in Edo State. According to Okorocha, “But Oshiomhole is the known family dynasty builder. And Edo State is the victim. In fact, he is the architect of “familiocracy�. Oshiomhole is the National Chairman of APC and governor for eight years. Rilwan Oshiomhole, his younger brother, is a Commissioner in Edo State Oil Producing Development Commission (EDSOPEDEC). Seid Aliyu Oshiomhole, another younger brother, is the House of Assembly candidate for Etsako West 2 State Constituency.

Yakubu Oshiomhole is the Secretary to the Local Government Commission; Dr. Cyril Adams Oshiomhole is vying for the House of Representatives for Etsako Federal Constituency. “With all these, between Rochas Okorocha whose only relation in government is Ogechi Ololo from Owerri North and Adams Oshiomhole who has the Oshiomholes in government or contesting positions, who should be accused of building a dynasty or running a “familiocracy�? Okorocha insisted that Nwosu won the Imo State governorship ticket of the party fair and square, and accused Oshiomhole of manipulating the process to produce a different outcome.

Party to Appoint Caretakers for Rivers State Meanwhile, the APC has concluded plans to appoint

a caretaker committee to run the affairs of its Rivers State chapter pending the conduct of fresh congresses, THISDAY has learnt. The caretaker committee will replace the state executive of the party sacked by the Supreme Court in its recent ruling. Also, as part of the moves to resolve the intra party crisis in the state, the national leadership has considered offering its senatorial ticket to Senator Magnus Abe, who emerged as the gubernatorial candidate of a faction of the party in the state. THISDAY gathered that the national leadership of the party has been consulting with the various factions in the state to ensure that the composition of the caretaker committee is acceptable to all. Following the ruling of the Supreme Court that voided the APC congresses in the state, the APC National Chairman, Mr. Adams

FG, INVESTORS NEGOTIATE FRESH TERMS ON SALE OF POWER STATIONS of market liquidity challenges; inadequate gas supply; and other problems, led to the discontinuation of the process. A decision to complete the transactions in phases starting with fully operational Gencos was subsequently taken by the federal government. Also, in February 2016, the Chairman of the NDPHC board, Vice President Yemi Osinbajo, approved the first phase of the transaction to commence with Calabar, Geregu and Omotosho. But in an interaction with THISDAY, one of the presidential sources explained that the government was worried about the sources of finance for the exercise considering that the transaction is structured to be funded by 30 per cent debt and 70 per cent equity. The source noted that the government considered

that Nigerian banks may have been over-exposed and may not be able to provide the debt portion of the financing, hence, its consideration of measures to allow for unhindered offshore financing. Another source also told the paper that the negotiations have taken into consideration the operational statuses of the Gencos, and as such their initial prices would no longer be applied in the transaction. This source noted that of all the challenges before the negotiating team which comprises of the Bureau of Public Enterprises (BPE); Nigerian Electricity Regulatory Commission (NERC); and Nigerian Bulk Electricity Trading (NBET) Plc, among others, the gas supply challenges was the least because the government has considered it could be resolved with less efforts.

“We have been in negotiation for quite some time now, and this has protracted due to the sector’s problems. When we are getting close to conclusion, some new issues will crop up and we will go back to the drawing table, but we are getting close to resolution of the problems,� said one of the sources. The source further explained, “The negotiation is with preferred bidders that are in existence. The BPE, I am told will exhaust its processes, and if the preferred bidders walk away, we will revert to the reserve bidders, and if they also walk away, we will go back to the market.� The other source informed the paper that, “The price they initially bid may not be considered,� adding, “The NIPPs acquisition are supposed to be financed through 30 per cent equity

and 70 per cent debt, now the debt part is still being considered, in that how do they incur debt in a situation where there are illiquidity.� “And, you know the Nigerian banks are so to speak do not have funds for this, it is like they are exhausted or saturated and the chances are that the finance is likely to come from offshore and the requirement for such could be a little bit more stringent. So, we are looking at how to circumvent the problems,� explained the second source, who noted that left for the team in the transaction exercise, they would have finished the process before the 2019 elections. Similarly, an investor whose firm is one of the preferred bidders for one of the plants told THISDAY that other aspects of the negotiations has been the

proviso that they must make a 25 per cent down payment for the plants. The investor equally informed that the parties have agreed that there would be independent verification of the plants to ascertain their operational statuses before the deal would be consummated. Also, the investor stated that the Gas Aggregation Company of Nigeria (GACN) has been co-opted into the exercise to review the terms in the gas supply agreements (GSA) of the plants. THISDAY, however made efforts to reach the Managing Director of NDPHC, Mr. Chiedu Ugbo, for comments and clarification of the development, but was not successful with the request as at the time of filing this report. Ugbo, who promised to get back to the paper, did not do same.

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$7bn Project: FG Warns NLNG against Violating Local Content Law Ejiofor Alike and Goddy Egene The federal government through the Nigerian Content Development and Monitoring Board (NCDMB) has warned the promoters of the new Train 7 plant being implemented by NLNG Limited against any attempt to circumvent the provisions of the Nigerian Oil and Gas Industry Content Development (NOGCD) Act of 2010 in the $7 billion project. The Shell-run company is shopping for $7 billion from the global financial markets to build Train 7, which will expand its operations and increase its production capacity from 22 million tonnes per annum (MTPA) to 30 MTPA. It had awarded the contracts for the Front End Engineering Design (FEED) of its proposed Train 7 to two consortia - B7 JV Consortium and SCD JV Consortium. The B7 JV Consortium comprises American company KBR Incorporated,

Technip of France and Japan Gas Corporation (JGC); while the SCDJV Consortium, consists of Saipem of Italy, Japan’s Chiyoda and Daewoo of South Korea. By the terms of the contracts, the consortia would participate in the Dual FEED Process and produce a Basic Design Engineering Package (BDEP) that would determine their EPC pricing, and eventually their bids to construct the train. A completed FEED process would pave way for Engineering, Procurement, and Construction (EPC) pricing and bidding processes which are preconditions for Final Investment Decision (FID). The company is owned by four shareholders Nigerian National Petroleum Corporation (49 per cent); Shell (25.6 per cent); Total Gaz Electricite Holdings France (15 per cent) and Eni (10.4 per cent). Following concerns that some of the foreign promoters of the project will flout the NOGICD Act of

Minister of State for Petroleum, Ibe Kachikwu 2010, which provides that certain scopes of the contracts shall be executed by Nigerian companies, the federal government has warned the company against flouting Nigerian laws.

The warning was given in a letter dated November 6, 2018, which was addressed to the Managing Director, Nigerian Liquefied Natural Gas Nigeria Limited (NLNG) and titled: ‘Nigerian Content

Compliance on NLNG Train-7 Project.’ In the letter which was obtained exclusively by THISDAY and signed by the NCDMB’s Director in charge of Monitoring and Evaluation, Mr. Tunde Adelana, the agency said information reaching it suggested that some of the foreign shareholders of NLNG have indicated their unwillingness to comply with the Nigerian Content laws and guidelines in the execution of the NLNG Train-7 Project. “For the avoidance of doubt, we wish to caution at this moment that the Board will not entertain any attempt to circumvent the provisions of the NOGCD Act, 2010 by any company operating in the Nigerian oil and gas industry,� it said. The agency added that it would continue to periodically carry out review of the NLNG Train-7 project to ensure that all Nigerian content plans, requirements and commitments are strictly adhered to.

“NLNG is also informed that it shall be required to provide detailed progress update on the performance of the Train-7 project relative to the Nigerian content commitments. NLNG is also reminded of the Board’s publication in the Nigerian oil and gas industry dated March 22, 2018 on the consequences of non-compliance,� NCDMB added. The execution of FEED contract takes about nine to 12 months but the Managing Director of NLNG, Mr. Tony Attah, had revealed that the company had adopted the Dual FEED Process by awarding this crucial part of the Train 7 project to two prospective engineering consortia, instead of one contractor. “What this does for us is give us a degree of freedom to start FEED and sometime after, EPC Bidding, with both activities overlapping. We remain committed to taking FID as soon as these processes are complete,� he reportedly said.

the airport was not unusual, noted that all passengers on international flights into the country are usually subjected to screening by customs and immigration officers. According to Sirika, who admitted that Atiku's bag was searched, any passenger, who arrived the country via a private aircraft like the PDP presidential candidate did, was usually met by security agents as was his case. He said it was only the president and vice-president, whom he said usually arrived through the presidential wing of the airport, that were exempted from such rule, pointing out, however, that yet, their passports must be stamped by immigration officers. Insisting that the search conducted on Atiku was not only mandatory, conventional, and internationally recognised; Sirika said Atiku could not have been exempted from such procedure. He also absolved Buhari of any knowledge of Atiku's experience. Admonishing those he described as law-abiding citizens to subject themselves to the laws of the land, Sirika warned that the case of any very important personality could never be an exception. The statement read, "This is a mischievous attempt to grab the headlines. Nigerians need to know that one of the resolutions of the Atiku team at their recently-concluded, opulently-held Dubai retreat was to embark on scaremongering. This is one of such. "For the records, all incoming passengers on international flights go through customs, Immigration, health and security screening. "Where the aircraft is using

the private, charter wing, as the PDP candidate did, such arrivals are met by a team of the Immigration, customs and other security agencies. "They go to the arriving aircraft as a team. The airport authorities confirm that this is a routine process, applying to all international arrivals, including the minister unless the passenger is the President of Nigeria. "The president, the vice president and passengers aboard planes on the presidential air fleet use the presidential wing of the airport. "It is also important to state that even in the presidential wing of the airport the President of Nigeria uses, there is the presence of Immigration and other security officials who must stamp his or her passport on arrival. "By standard procedure, all aircraft on international arrivals must first of all park at the international wing of the aircraft. They can move to the domestic terminal only upon the completion of the arrival processes. "While it is true that the Task Force on Currency at the airport did the routine action of checking the former Vice President’s travel bag, he was accorded full respect as a senior citizen. "These checks are mandatory, conventional, internationally applied and routine. No one is excused from them under our laws. These checks are carried out on all international arrivals and President Buhari does not get involved in them. "Law-abiding citizens are encouraged to respect the laws of the country and our VIPs should not seek to be treated over and above the citizens they wish to serve.

OUTRAGE OVER SEARCH OF ATIKU, PRIVATE JET BY SECURITY AGENTS National Publicity Secretary, Mr. Kola Ologbondiyan, rejected the search on Atiku and said it was evidence that the Buhari administration was jittery over Atiku’s soaring popularity since his emergence as its candidate. According to him, “It was shocking when the deadly squad, in a Gestapo style attack, and acting on ‘orders from above’ rushed our candidate immediately he landed and attempted to physically manhandle him before invading his aircraft with dangerous weapons to conduct a violent search.� The main opposition party said while nothing incriminating was found on Atiku, the squad, violently tampered with certain personal documents and gadgets belonging to him, including some of his campaign documents. The party noted that Nigeria was not a conquered territory and anybody that wanted to foist a totalitarian regime on the country would be firmly resisted. It said, “PDP is for peace, but we will not accept this recourse to violence, which we believe is orchestrated to directly harm our presidential candidate, foist a siege mentality on the system and set the stage for series of coordinated violence, ostensibly to truncate a peaceful conduct of the 2019 general election. “We invite President Buhari to recall that as a Presidential candidate, he had occasions to travel out of the country and the government in power never besieged or harassed him in any way. His administration should therefore not introduce such violence in our democratic space. “The Buhari Presidency

and the APC should bear in mind that this is an attack on our democracy and the collective sensibility of the overwhelming majority of Nigerians, across board, who have accepted the choice of Atiku as Nigeria’s next president and they will vigorously deploy every means available in a democracy to defend him and our democratic process.� On his part, Adebanjo said the humiliation of Atiku is a testament to the fact that Buhari is not a democrat. Adebanjo said he was not surprised at what happened, saying that Buhari was like a leopard, who cannot change his spots. “He was born a feudalist and was not exposed, so he can do anything however unreasonable; there is nothing that Buhari will do that will surprise me.� For Nwodo, he said the action was a scary move, which has become a trail that does not portend good for the nation. He said, “This is scary moves. From Ike Ekweremadu to Atiku Abubakar, while Adams Oshiomhole and Orji Kalu under investigation and trial respectively move as they like. Thousands of Middle Belters murdered; no one is arrested. “One Army General is killed, 17 guys, including a traditional ruler rounded up. This is what happens when qualification for positions in our security agencies is a function of where you come from rather than your competence!� Also speaking, PDP chieftain and former governor of old Ondo State, Chief Olabode George, described as “absolutely sacrilegious and reprehensible� what

happened to Atiku. He said, “If they can treat him (Atiku) that way, it is a prelude to what will happen in 2019; what is all these? We have to rise up and beyond this. He is not just anybody. For God’s sake, he is a candidate of a major political party for God’s sake.� George insisted that absolute respect must be given to him. “How do we tell the international community and investor that their investment is safe in the country? He has never been convicted for God’s sake. This is pettiness; the days of doing these are over,� he said. Former Deputy National Publicity Secretary of the APC, Mr. Timi Frank, said the plot to embarrass Atiku was a failure. “Nothing, was however found on him or in his aircraft,� Frank said. Also, the senator representing Bayelsa East constituency at the National Assembly, Mr. Ben MurrayBruce, condemned what he called “reckless harassment� of Atiku. Taking to his Twitter handle @benmurraybruce, the senator tweeted, “I totally condemn this reckless harassment of @ atiku the candidate of the @ OfficialPDPNig as he landed in Abuja. “Nigeria is not a fascist state. We will not return to a jackboot dictatorship. This government should face Atiku at the polls, not with force.� In his reaction, a former Minister of Aviation, Chief Femi Fani-Kayode, described the attempt to intimidate Atiku by the presidency as shameful. Tweeting from his verified

tweeter handle @realFFK, he said, “The attempt to intimidate @atiku with security agents at the airport after his arrival in Abuja this morning is utterly shameful and I totally condemn it. “It is the desperate act of a vicious, cowardly, weak, paranoid, dying and failed government who know that their time is over.� Also reacting, Afenifere National Publicity Secretary, Mr. Yinka Odumakin, condemned the incident. "While Atiku was in Dubai, the APC made a statement asking security people to go after him, now coming into the country and being subjected to these kinds of searches, it shows just only one thing, extreme desperation and when a sitting government begins to show this kind of desperation, it is about losing it, if it has not lost it, because it is clear signal that the government has descended into a desperate mode and that is why they are doing all these,� he said.

FG: It was Routine Exercise However, the federal government last night in Abuja, dismissed allegations by the former vice president that he was ill-treated by security operatives, saying rather he was accorded his deserved respect but only seeking to make mischievous headlines. The Minister of State for Aviation, Senator Hadi Sirika, in a statement, said Atiku, by the alarm raised, was only executing one of the resolutions at his just concluded retreat in Dubai "to embark on scaremongering." The minister who also said what happened to Atiku at

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COMMENT

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

MARCHING FORWARD TO THE FUTURE

Kashim Shettima is putting Borno State on the path of industrialisation, writes Kingsley N. Stanley

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bout six years ago, then Central Bank Governor and now Emir of Kano, His Royal Majesty, Mallam Sanusi Lamido Sanusi, had stated that the security challenges of the nation cannot be tackled in the most perfect way without tackling the economic problems which has left many poor. The emir who spoke at the flag off of the Financial Inclusion Strategy Pilot Implementation which held in Maiduguri, said the present security challenges faced by the country could be traced back to the nation’s checkered economic crisis. He said any attempt to solve one without the other will be a wasted effort as it was the responsibility of all to bring available resources to the table in order to tackle the problem of insecurity in the entire country. To state that insurgency has been a huge threat to the economy of northeastern Nigeria, especially Borno State, is to state the obvious. For well over 10 years, insecurity and the quest for reestablishing peace in Borno State have topped discussions. Indeed, but for the resilience of Governor Kashim Shettima and the highly spirited people of Borno State, perseverance would long have given way to defeat and fear. This is so as a visit to Borno State depicts how courageous leaders pull through in time of despair and eventually succeed in inspiring hope and triumph amongst their subjects. Aligning with the advice of Sanusi, Kashim Shettima has been investing massively in infrastructure in Borno State and today can boast of some of the best schools, hospitals and road networks. The huge water, affordable housing, agricultural and manpower investments that the Borno State government has splashed across the state lay credence to the fact that insurgency might have threatened the state’s quest for massive development, but it will continue to play second fiddle to the vision, foresight and dreams of the Shettima administration. Perhaps nothing best explains his commitment towards eradicating poverty and powering the Borno economy than the multimillion dollar investment in the Borno Industrial Park located at Njimtilo, just few kilometres on entry to Maiduguri from the Damaturu end. The industrial haven, suffice to say, is the first of its kind in northern Nigeria and perhaps the model most states of the federation need to adopt if truly the much-touted diversification and non-reliance on oil revenue is to be achieved. Call it a holistic industrial revolution dream; it is the epicentre of Borno’s push for economic self-reliance and projection. With no less than 10 factories situated in the industrial park, the expansive land radiates an economic transformation that Borno State would come to be known for in no distant time. Amongst several industries located in the park are a solar panel production and plastic plant, a tomatoes processing plant, onions dehydration plant, water line plant and a corn chips plant. Other plants include an audacious garri processing plant, a pilot juice plant and an experimental laboratory farm house. It is indeed a complete industrial park with adequate security and power supply all provided for by the Kashim Shettima administration with a public- private partnership in mind. The value chain of this bold scheme cannot be quantified in terms

WITH NO LESS THAN 10 FACTORIES SITUATED IN THE INDUSTRIAL PARK, THE EXPANSIVE LAND RADIATES AN ECONOMIC TRANSFORMATION THAT BORNO STATE WOULD COME TO BE KNOWN FOR IN NO DISTANT TIME

of output, employment and revenue. For instance, the solar panel plant which is almost set for production is about the biggest in the country with the capacity of producing 40megawatts of energy annually on just a shift and if operated on triple shifts basis daily will produce 120megawatts, by far the largest in the country. This is even as no less than 100 persons are expected to be employed in the plant alone. Of interest too is the tomatoes processing plant which also produces mango, carrot, gwags, water melon juices all year round as it adapts to the all-year varying periods of maturity for the different plants. About 200 workers will be employed on the 3,000msq facility with a targeted 150 tonnes yearly output. While the onions dehydration plant is the first of its kind in the country as it also dehydrates crops like ginger for marketing needs, the water line plant aside bottled water, also produces ketchup and others. The drive by the Shettima administration is to further establish a cassava processing plant to ensure that the hitherto neglected crop in the state is harnessed to its full potentiality. Given the cheapness of cassava in the state, there can be no clear way of encouraging farmers than this deliberate strive by the Borno State governor. To add the importance of the juice plant, the industrial site also has its own pilot juice plant, so created as laboratory for tasting the viability of the juices being produced there. A farm centre necessitates this, giving its capacity to produce over three million seedlings of different crops per season with the advantage of an automated weather control facility inbuilt at the facility. Given the words of Emir Sanusi who stated that “viable economy comes first before security, we do not believe all the problem of Borno is economic but we believe strongly that if we tackle this problem we would have gone a long way to tackle the socio-political problem of the state, especially the issue of insecurity in the state,� it is pertinent to laud the Borno governor’s courage to embark on such project. That a state that has been threatened by insurgency has taken this lead and emphatically made a huge mark in this regard is not only surprising, but further says a lot about how a leader’s commitment, foresight and vision can make the needed difference. This initiative must thus be commended. It is now rife for the private sector to move in and take advantage of huge economic and revenue potential the Industrial Park seeks to provide. And with the gradual returning of peace in the northeast region, it is time for a collective change in narrative. As stated by the governor, “it is time we took our destiny into our own hands and begin to harness our resources and manpower. The value chain of our products must be maximised as we begin to look away from oil revenue and deliberately shift from raw materials providing state to indeed a production state for the overall benefit of our state, its people and country at large “. This commendable step by Shettima must be seen for its pure merit and tapped from by the other leaders in the north and indeed across the country. As noble as it is, the bid to diversify and move the nation from a consuming to a producing society must just be practical. Kingsley wrote from Maiduguri

STABILISING THE NIGERIAN ECONOMY

Bilikis Abubakar argues that the government deserves a pat for stabilising the foreign exchange market

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iven what time it is in the nation’s political calendar, it is understood, though unhealthy for the holistic development of the country, when commentators chose to spin narratives negatively for the purpose of politics and not for altruistic or developmental basis to favour their political persuasion or affinity. Such people however need to be cautioned and where they failed to take heed, others must situate issues in their proper perspectives. It is common to read that the President Muhammadu Buhari administration has not achieved anything. Indeed, a common rhetoric is to accuse the PMB administration of plunging millions of Nigerians into the poverty snare. This narrative has been copiously backed up with data from foreign agencies and sometimes local ones too, that the country has become the global poverty capital on account of the policies of current administration. Often times, the promoters of the negative or skewed narratives fail to ask the most fundamental question which borders on how the country’s economy got to where it is today. Against the foregoing, an appraisal of how the feats of the PMB administration in the foreign exchange market become necessary. The stability being enjoyed in the forex market remains one of the achievements that the current administration has recorded in the past since coming on board. Nigerians have suffered from the FX challenges in the past. Before now, Nigeria has witnessed a significant decline in her terms of trade with crude oil price declining by 80 per cent in nominal terms from $110 per barrel in June 2014 to $22pb in January 2016. With crude oil contributing 90 per cent of exports earnings and 70 per cent of government revenue, exports earnings and revenues fell by over

45 per cent and 35 per cent respectively in 2015. As a result, current account position, foreign exchange reserves and the naira exchange rate had come under severe pressure. At a time current account deficit is estimated -3.3 per cent of GDP, the first negative position recorded since 2009, while foreign exchange reserves fell by 27 per cent to $29 billion in 2015. The CBN had since taken several measures to stem the impacts of the external shocks on price, monetary and exchange rate stability; according to data sourced from the Nigerian Economic Summit Group (NESG). In particular, the apex bank had adjusted the currency twice to N197 to the dollar and had also put in place several demand management measures including import restrictions on 41 items and capital controls, among other policies. Nevertheless, the pressures on the naira exchange rate did not abate. While the interbank rate remains at N199, the parallel market rate was N305 as at January 2016, a 50 per cent premium on the official rate. The nation’s FX market was confronted with this challenge for the better part of 2015 and 2016. The cause was largely the recession that hit the nation’s economy at the time. However, a deeper interrogation revealed other factors including the shambolic, multiple and unrealistic exchange rates, particularly the wide disparity between the official exchange rate and the more easily accessible rates at the autonomous markets. All of which the PMB administration inherited. The wide gap in the exchange rates thus led to FX shortage in the system. The FX shortage came about because the CBN became the sole supplier of FX to the nation’s economy thus leading to a supply challenge. Because of the unrealistic official exchange rate,

many autonomous sources of FX inflow, particularly amongst exporters were not directly available to government coffers as the exporters chose to repatriate the returns through other source other than the CBN since the apex bank rates do not make any economic sense. Findings at the time revealed that exporters were unable to access FX at the CBN rate and had to resort to the Bureau De Change operators, whose rates hovered around N500 to a USSD. Given the scenario, many financial market operators and analysts had argued that it would amount to economic suicide if they repatriate proceeds of their trades through the CBN which would only convert the USD to naira at the rate of below N200. In the prevailing circumstance, stakeholders, among them the NESG conducted a survey, and based on it, authored an advisory note wherein it posited the way forward. In the document, NESG urged the apex bank to “Adopt managed floating regime and drop the ad-hoc interventions as currently being practised. Such managed floating regime should be proactively managed to keep the size of the band close based on Nigeria’s economic fundamentals; ensure that the current exchange rate management framework allows quick adjustment in the system; participate as an active player in the foreign exchange market; review its method of conducting interventions in the market and ensure that information about the reserves level is timely disclosed to the public among other measures.� The introduction of the investors and exporters window in the FX market in April 2017 proved the much needed solution. Other measures earlier introduced included a special FX window for small and medium scale enterprises (SME), to facilitate the importation of eligible finished and semi-finished

items. Ban on 41 items from accessing FX in the official market among others. But it was I&E FX window that eventually addressed the challenge for good. Tagged: “Investors & Exporters FX Window�, CBN’s Director in charge of Financial Markets, Alvan Ikoku, while announcing it via a circular had said the new window would boost liquidity in the forex market and ensure timely execution and settlement for eligible transactions. Before the introduction, investors in small businesses and exporters had always decried the closure of several investments due to lack of access to foreign exchange to procure necessary facilities to support their operations. The I&E FX window covered a wide range of transactions including invisible transactions, such as loan repayments, loan interest payments, dividends/income remittances, capital repatriation, management service and consultancy fees. Also covered by the FX window are software subscription fees, technology transfer agreements, personal home remittances, bills for collection and any other trade-related payment obligations at the instance of the customer. Other eligible transactions, like ‘miscellaneous payments’ detailed under Memorandum 15 of the CBN foreign exchange manual were also covered under the new window. Also, transactions and bills for collection were eligible to purchase foreign currency sourced from the CBN forex window limited to secondary market intervention sales, wholesale (spot and forwards) only. Even though the FX window excluded international airlines ticket sales’ remittances, the apex bank made provisions for it through the CBN FX window.

Abubakar wrote from Minna, Niger State

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T H I S D AY MONDAY, NOVEMBER 12, 2018

EDITORIAL The Rising Fast Food Culture Nigerians should consume fast food with discretion

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ne of the fastest growing businesses in the country today is the fast food industry. From Lagos to Kaduna, Port Harcourt and Abuja, fast food restaurants are springing up at every street corner in highbrow and down town areas of the state capitals. Ordinarily, this indicates a boom in this sector of the economy, with unquantifiable multiplier effects that is good. No matter how infinitesimal, the employment generated by these outfits is hard to overlook, so it should be seen as a positive development. The fact that fast food is convenient, readily available, quickly served and could be taken on the go makes it the choice of a critical segment of the Nigerian society, especially the youths, members of the middle class and the nouveau-riche. These groups of people who, perhaps because of the demands of their jobs are often in a hurry, remain the major patrons. To them, fast food joints have become the saving grace from the drudgery and boring routine of going to the kitchen to prepare their own meals or wasting unduly long hours on shopping for foodstuffs. However, one NUTRITIONISTS BELIEVE of the dangers in THAT HOME-COOKED getting hooked on this rising fast food MEALS ARE LIKELY culture is the gradual TO BE FRESHER AND erosion of an integral FRIENDLY TO THE part of the country’s BODY SYSTEM THAN culture, our unique THE OFTEN OVERways of preparing SEASONED, OVERmeals with local flavour-enhancing SPICED AND OVERspices. The fast food, REFRIGERATED FAST which is essentially FOOD an alien cuisine, is therefore undermining the growth of this vital aspect of our culture. But apart from the cultural aspect, nutritionists believe that home-cooked meals are likely to be fresher and friendly to the body system than the often overseasoned, over-spiced and over-refrigerated fast food

Letters to the Editor

that contains so much fat, salt and chemical additives. Even the condition in which some of this fast food is prepared leaves much to be desired. Sadly, these negative nutritional attributes and the danger they may pose to health are often overlooked by most youths and middle class members of the society, who wrongly view the emerging fast food culture as a status symbol. This quite naturally has resulted in food abuse that could cause various diseases like cancer and lead to obesity. In recent years, reported cases of people afflicted with cancer have been on a steady rise in the country. While medical experts somewhat differ on the likely causes, there is a consensus that it is largely the consequence of lifestyle, especially dietary habits.

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T H I S DAY EDITOR BOLAJI ADEBIYI DEPUTY EDITOR DAVIDSON IRIEKPEN MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR KAYODE KOMOLAFE CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN MANAGING EDITOR JOSEPH USHIGIALE

T H I S DAY N E W S PA P E R S L I M I T E D EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU, IJEOMA NWOGWUGWU, EMMANUEL EFENI DIVISIONAL DIRECTORS BOLAJI ADEBIYI, PETER IWEGBU, ANTHONY OGEDENGBE DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI SNR. ASSOCIATE DIRECTOR ERIC OJEH ASSOCIATE DIRECTORS PATRICK EIMIUHI, SAHEED ADEYEMO CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO TO SEND EMAIL: first name.surname@thisdaylive.com

TO OUR READERS Letters in response to specific publications in THISDAY should be brief (150-200 words) and straight to the point. Interested readers may send such letters along with their contact details to opinion@thisdaylive.com. We also welcome comments and opinions on topical local, national and international issues provided they are well-written and should also not be longer than (9501000 words). They should be sent to opinion@thisdaylive.com along with the email address and phone numbers of the writer.

AGRICULTURE AND ECONOMIC EMPOWERMENT

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igeria is currently ranked the country with the highest number of extremely poor people. It is estimated that 87 million out of the estimated 180 million population of Nigeria, which represents 45% of Nigerians, are currently living in extreme poverty. According to Nigeria poverty statistics, the poverty rate in Nigeria’s south-west of the country is 19.3 per cent; south-south, 25.2 per cent; south-east is about 27.4 per cent; north-central, 42.6 per cent; north-east, 76.8 percent while in the north-west of Nigeria is 81.1 per cent. The weak growth in the formal economy (0.8% in 2017) suggests that employment in this space will be relatively inadequate to reduce poverty. Also, the unstructured nature of the informal sector of the economy, coupled with harsh conditions, poor power supply and inadequate government interventions make the whole outlook bleak. Nevertheless, agriculture can be used as an effective tool to fight poverty and combat unemployment. One way of achieving this is by making it attractive to young people. To achieve this, the practical aspect of agriculture in the school’s curriculum should be given equal attention as the theory. One way of doing this is by establishing viable school farms in both our

e are not, in any way, calling for a clampdown on fast food operators because of its economic benefits. Moreover, a good number of them are making conscious efforts to serve African cuisine. But the health of consumers should be a paramount consideration by the fast food operators. In this regard, we believe that blending some of the foreign content in their recipe with the best of our traditional African cuisine and reducing the cholesterol level of their snacks would be more helpful to their customers. Even as widely accepted as the fast food culture is in the West, including the United States of America, conscious efforts are still being made to discourage people from over-dependence on junk food due to the danger it poses to health. In many jurisdictions in these advanced societies, tax has been imposed on fast food to reduce its consumption and prevent the tendency towards obesity among the populace. We also recall that during her tenure as the Director General of National Agency for Food and Drug Administration and Control (NAFDAC), the late Prof. Dora Akunyili did a good job in sensitising Nigerians to the dangers of indiscriminate consumption of fast food and the need to embrace Nigeria’s traditional cuisine. In the interest of our people, such efforts should be sustained.

private and public primary and secondary schools across the country. The idea behind this is to make agriculture an integral part of the school culture, so the pupils and students are well positioned to appreciate farming, and make it a lifestyle, even when they do not intend to specialise in it. The knowledge obtained from practical sessions on the school farm helps not only to re-enforce what is taught in the classrooms. It also equips the pupils/students with first-hand knowledge of how to run agribusinesses, which is very important in cultivating an entrepreneurial spirit in the students. Our national policy on education lays considerable emphasis on self-reliance. It is no secret these days that whereas many school leavers (including university graduates) are finding it increasingly difficult to secure paid employment, those of them with technical bias easily get employed as artisans. Technical and pre-vocational subjects like Agricultural Science not only impart specialized skills, they also offer opportunities for future income generating activities and self-employment. Therefore, the practical aspect of agriculture in the school’s curriculum should be given equal attention as the theory. One way of doing this is by establishing viable school farms in both our private and public primary and secondary schools across the country.

Daniel Ighakpe, FESTAC Town, Lagos

EL-RUFAI’S CHOICE OF DEPUTY

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overnor Nasir El-Rufai who got his party ticket to contest the 2019 election has recently stirred the hornet nest with his controversial choice of a Muslim running mate. Governor El-Rufai has chosen Hadiza Balarabe, a Muslim from Numana tribe of Southern Kaduna to be his deputy. She will be the second in the history of the state after Mrs Pamela Sadauki. Although the reason for this decision is still unknown, El –Rufai has a penchant in going for the best and experienced hands. Since the time he came on board, most of his appointments were done on merit and professionalism. Unlike other elected governors who appointed their aides or lieutenants based on political patronage, El-Rufai, being a technocrat normally opted for more educated and experienced people irrespective of their places of origin. Looking at the list of his commissioners will prove my point. Did El- Rufai pick Hadiza Balarabe because of her experience spanning over a long period of time? She was public health consultant, public health physician, and director public health, Federal Capital Territory Administration. Hadiza Balarabe, until her nomination was the executive secretary of Kaduna State primary health care development. Under her watch as reported, the primary health care in

Kaduna State has become a success story. In developed countries of the world where leaders are voted or elected based on experience, competence and ability to deliver, El Rufai has done nothing wrong by choosing Muslim running mate. But in our developing democracy in which religion, ethnic and regional politics play significant roles in the emergence of leaders, governor El Rufai has deviated from the age-long practice. Since the return of democracy in1999, Kaduna State position of governor and deputy are divided between Muslim dominated North and the Christian South. With the exception of 2011 in which the Southern Kaduna produced late Patrick Yakowa as the executive governor and Muktar Ramalan Yero as the deputy, that has been the norm. Governor El Rufai, like his predecessors, has picked up his running mate from the southern part. Where he got it wrong this time was in picking a Muslim one in a polarised state like Kaduna with the history of ethno-religious crises. While nobody can deny the fact that there existed Muslim minorities in the southern part of the state, choosing one of them is a wrong decision. Plateau and Taraba States have the semblance of what is being played in Kaduna State. Ibrahim Mustapha, Pambegua, Kaduna State

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Group Politics Editor NSEOBONG OKON-EKONG

POLITICS

Email: nseobong.okonekong@thisdaylive.com 08114495324 SMS ONLY

M O N D AY D I S C O U R S E

Renewed Clamour to Sack the Reformer Ojo Maduekwe writes that the All Progressives Congress National Chairman, Comrade Adams Oshiomhole’s drive to reform the party and instill internal discipline might have gone overboard

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hen he was vying for National Chairman of the All Progressives Congress (APC), Adams Oshiomhole made it clear he was out to reform the APC; take back the party structure from vested interests and return it to the members. Membership of the APC was saturated by a good number of politicians who defected from the PDP and swelled its ranks ahead of the 2015 general elections. The APC’s singular ideology leading to the 2015 general elections was based on how to dislodge the PDP from the government at the federal level, nothing more. Before the coming of Oshiomhole and his desire to reform the party, millions of Nigerian voters who casted their votes in favour of the APC during the general election in 2015 were already itching for a reform. It was with this sense of purpose that Oshiomhole assumed the role of party reformer. His approach would involve using direct primary to elect candidates to represent the party in elections. Although this was bound to have drawbacks – owing to the lack of a credible membership register – it was an approach capable of fostering a sense of ownership by everyone that called the APC home. Governors in the APC who were normally anti direct primary but beneficiaries of the skewed delegate system, knew what this reform entailed but nonetheless endorsed his candidacy to please President Muhammadu Buhari, backtracking on an earlier tenure elongation for the then APC chairman, Chief John Odigie-Oyegun. Oshiomhole inherited a party whose change credibility had been battered, and was poised to move the APC away from a system where governors were both lords in their respective states and Abuja; a situation where appointees with access to the president decided what was party policy. In his drive to reform the party and instill internal discipline, some critics of Oshiomhole say that he might have gone overboard. They allude to his falling out with the Minister of Labour, Dr. Chris Ngige, during which he had openly expressed displeasure with how Buhari was handling the government. When Ngige refused to inaugurate the board of an agency under his ministry, Oshiomhole, following a closed door meeting with the president’s Chief of Staff, Abba Kyari threatened to suspend Ngige and other party members who disobeyed party directives. According to him, “If the president condones disrespect for his office, I will not condone disrespect for the party.� In some quarters, this comment portrayed the chairman as courageous and as someone unafraid to take an opposing view different from the president, especially when doing such to preserve the independence of the party. Fact is the APC was in total disarray, judging from the happenings within offices of the federal government under its control. There were ministers and junior ministers working at cross purposes. The heads of the Economic and Financial Crimes Commission (EFCC), and the Department of State Security (DSS)

QUICK FACTS: r0TIJPNIPMF NBEF JU DMFBS IF XBT out to reform the APC; take back the party structure from vested interests and return it to the members r#FGPSF UIF DPNJOH PG 0TIJPNhole, millions of APC supporters were already itching for a reform r)JT BQQSPBDI JOWPMWFE VTJOH direct primary to elect candidates to represent the party in elections

Buhari

Oshiomhole

were refusing to collaborate in executing the president’s fight against corruption. During these scuffles Buhari appeared disinterested in restraining his appointees and putting his government in order. This disorderliness or like Oshimhole put it, condoning “disrespect for his office�, rubbed off badly on the party. There was need for the APC to save itself by reinventing its internal party politics. The governor’s backtracking on their plan to elongate the tenure of Odigie-Oyegun was wrongly viewed by observers as a sign that they were open to reform. It soon became obvious that members of the APC (especially the governors) were not open to change at the inception of the party primaries to elect candidates for the 2019 elections, when the party and the governors clashed on what mode of primary to be used in electing candidates to represent the APC. Oshiomhole had canvassed for direct primary so as to give every registered member of the APC a say, but the governors under the party wanted indirect primary. While some governor’s had their way, those that failed to use the primary to install candidates of their choice now want Oshiomhole to resign. The APC primaries may be history, but the consequence of three of the governor’s decision to back Oshiomhole as chairman continues to plague them. Vehemently opposed to his continuation as chairman, they are calling for his resignation. They claim that his reforms have deformed the APC. In a bid to force him to resign, the embattled chairman has been a victim of verbal attacks by some APC governors, even down to an interrogation by the DSS, during which it was reported that he was asked to resign. Both the state security and the leadership of the APC have neither denied nor consented to this news. There have been clamour for Oshiomhole’s resignation but it had never been this strong. The clamour keeps growing and the list of party members that want him gone – ranging from governors to ministers – continue to pile up daily. In a bid to discredit him, there have

been allegations of corruption thrown at him. It is alleged that it was upon this premise that he was invited by the DSS. There’s a subsisting order by a federal high court sitting in Abuja and headed by Justice Anwuli Chikere asking the EFCC to investigate Oshiomhole. The lawsuit was instigated by an anti-corruption crusader, Bishop Osadolor Ochei. Spokesperson of the main opposition PDP, Kola Ologbondiyan, claims the party has at its disposal information that reveals Oshiomhole allegedly collected billions of Naira in bribe from some ministers and other APC sources in Adamawa, Rivers, Kano and Imo states to manipulate the 2019 electoral process. One of the aggrieved governor’s, Rochas Okorocha of Imo state, who happens to be chairman of the Progressives Governors Forum (a group of governors elected under the APC), claims that Oshiomhole’s reform will likely cost the APC an unsubstantiated number of five million voters in next year’s elections. Following the governorship primary in his state, and the loss of his anointed candidate and son-in-law, Uche Nwosu to Senator Hope Uzodinma, it was alleged that Okorocha was toying with the idea of having Nwosu run on the platform of the Social Democratic Party (SDP) for the state governorship seat. Ibikunle Amosun, governor of Ogun, who initially supported Oshiomhole, has accused the chairman of trying to hijack the state to give to a “rapacious and expansionist South-west gang,� and so has vowed not to support Dapo Abiodun, the 2019 Ogun state gubernatorial candidate of the APC. It was alleged that Amsoun was scheming for his anointed candidate, Adekunle Akinlade, to dump the APC for the Democratic People’s Party (DPP). The governor’s may be right in their accusation of the APC chairman, or as Oshiomhole has depicted them, they could just be sore losers, depending on how one sees it. But the fact is, unlike in 2015 when the APC went to the poll united, the party is going into next

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Odigie-Oyegun was wrongly viewed as a sign that they were open to reform r0TIJPNIPMF JOIFSJUFE B QBSUZ whose change credibility had been battered r5IF /BUJPOBM $IBJSNBO PG UIF APC was poised to move the party away from a system where governors were both lords in their respective states and Abuja r5IF QBSUZ BOE UIF HPWFSOPST clashed on what mode of primary

year’s election disunited. It gets worse in a state like Zamfara, where the APC won’t be fielding candidates in 2019. Naturally, following the badly conducted primaries a wave of protest and defection is plaguing the APC and, several aggrieved members who lost out during the primaries have vowed to work against the party come 2019. Even the chances of the APC retaining the presidency have been predicted as being slim. When looked at dispassionately, the APC has lost most of the appeal that made it acceptable to voters in the buildup to the 2015 elections. APC supporters expected Oshiomhole’s coming as chairman to reposition the party as the country moves into the next election season. But, what should have been a reform to strengthen the APC as an embodiment of progressive ideals, has further polarized it and divided members of the party. Some members of the APC’s National Working Committee (NWC) have been allegedly approached to suspend the chairman, pending the conclusion of the DSS investigation of the corruption allegation slammed on him. President Buhari; his deputy, Yemi Osinbajo; Tinubu and other party stakeholders would meet this week to discuss the crisis and decide on the fate of Oshiomhole as APC chairman. A number of APC members and supporters of Oshiomhole, like Tinubu, still consider his reforms to be in line with the interest of the APC but others consider him to be bad for the party and would prefer he resigns for a new chairman to lead the APC ahead of next year’s upcoming general election. APC strategists worry that an attempt to remove Oshiomhole may likely deepen the crisis, rather than unite the party. They suggest that it would be better for the APC to weather the storm and correct any conflict immediately after the election. But those canvassing for his resignation believe that with Oshiomhole continuing as party chairman, the APC stand no chance at retaining power. Believing his reform to be on course, Oshiomhole is insisting that the APC is not in any form of crisis, and that Buhari will defeat Atiku. At a recent press conference in Abuja, he told reporters that, “Now that our opponent is Atiku Abubakar, we will defeat him again the way we have defeated him before.� How Oshiomhole can remain this optimistic while overseeing a party riddled with crises is what both critics of the APC and the chairman do not understand. This nonchalance is why some have insinuated he’s working for the PDP. If after the meeting with the president and other party stakeholders Oshiomhole is retained as chairman, observers expect there to be increase in accusations by aggrieved APC members and counter-accusations from the camp of supporters loyal to the chairman. This would definitely deepen the crisis. What would matter for the APC in the coming weeks is how to extricate itself from the result of Oshiomhole’s experiment with the direct primary. To return as ruling party, the APC would need a strategy on how to forge a united front to face a growing discontent of millions of voters itching to vote out the party. to be used in electing candidates to represent the APC r5IPTF UIBU GBJMFE UP VTF UIF primary to install candidates of their choice now want Oshiomhole to resign r5ISFF PG UIF HPWFSOPST BSF WFhemently opposed to Oshiomhole’s continuation as chairman r5IF FNCBUUMFE DIBJSNBO IBT CFFO a victim of verbal attacks by some APC governors, even down to an interrogation by the DSS

THISDAY t MONDAY NOVEMBER 12, 2018

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THISDAY t MONDAY NOVEMBER 12, 2018

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FEATURES

Group Features Editor: Chiemelie Ezeobi Email chiemelie.ezeobi@thisdaylive.com, 08152252325

The Unending Cycle of Violence in Kaduna John Shiklam chronicles the root causes of the unending cycle of violence in Kaduna State and also the measures put on ground by the present administration to ameliorate the situation

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or nearly 40 years, Kaduna State has been embroiled in multiple ethnoreligious crisis that has pitted the southern part of the state against the northern part. In those 40 years, it's been from one attack to another with alarming casualties and destruction of properties worth millions of naira. Same scenario played out on October 18, this year. In this recent attack, over 70 people were killed in the bloody ethno-religious clash, which started in Kasuwan Magani community, a few kilometers from Kaduna metropolis. This is the second time the Kasuwan Magani community had suffered from bloodshed. In February 2018, Muslim and and Christian youths in the area, clashed over allegations that Muslim youths were having love affairs with Christian girls and converting them to Islam and marrying them. In the February incident, about 20 people were said to have been killed with hundreds of shops and houses burnt during the incident.

Ethno-religious Segregation Bloody clashes in the state had polarised the people along ethno-religious lines. In Kaduna, the state capital, Muslims and Christians live in segregated communities. The cities are divided by the Kaduna River, with Muslims predominantly in the northern part of the metropolis, while christians are predominantly in the southern part of the city. This divide between the two groups has deepened the sense of exclusion as some of the settlements from both sides are considered “no areas�. The state is also divided along the North and South. The northern part of the state is populated by Muslims while the southern part is populated by Christians. Sadly, this gulf has continued to widen following the persistent violence and failure of past and present administrations to address the real causes of the conflicts.

President Muhammadu Buhari and Governor Nasir el-Rufai during the meeting

Past Crisis The first crisis in the state was said to have occurred in 1980, in the same Kasuwan Magani, Kajuru Local Government Area of the state following disagreements over farmlands between the indigenous Adara ethnic group and the Hausa Fulani. Since then, Kaduna has become an epi-centre of ethno religious clashes, resulting in the destruction of hundreds of lives and properties worth billions of naira. Among some of the most bloody clashes, were the 1987 riots at the College of Education, Kafanchan; the Zangon Kataf riots of 1992; the 2000/ 20001 Sharia riots; the 2002 Miss World riot and the post Presidential election violence in 2011, among several others.

Recent Mayhem Indeed, Kaduna State is not new to ethnoreligious crisis. For over 30 years, the state had witnessed many bloody crisis which has retarded its development. The recent clash was no different. Normally, every Thursday is the market day in Kasuwan Magani community and on that October 18, this year, commercial activities resumed as usual without any premonition about what was about to happen. At about 4:30 pm, when they where just closing from the market, violence erupted. It was pandemonium galore as some persons armed with dangerous weapons like knives, sticks, machetes and guns unleashed mayhem. After the situation was controlled, two versions of the cause of the clash emerged. One was that a suspected thief was said to have been caught and was being beaten. He was said to have been shouting his religious slogan as he was being beaten and members of his religious faith, swiftly rose to his defence, thus giving the incident a religious colouration. The second version of the story had it that a wheelbarrow pusher, who was trying to find a space to offload some goods, accidentally hit a middle-aged man in the process, but instead of

el-Rufai with one of the victims of the violence during a visit to the hospital apologising to the man, an argument ensued between the duo, resulting in fisticuffs that led to clashes between Muslims and the indigenous Adara ethnic group, who are mainly Christians.

By the time soldiers, the police and other security personnel were deployed to the area, many lives had been lost with several houses set ablaze. According to the Kaduna State Police Commissioner, Ahmad Abdul-Raman, 55 people lost their lives in the clashes.

The Kidnap

The federal government will take strongest measures possible to punish perpetrators of these crimes. If in the past they got away scot free, we shall now hold everyone to account for these latest killings

Just when the situation was brought under control by the security agencies, the abduction of the paramount ruler of the Adara ethnic group, the Agom Adara, Mr. Maiwada Rapheal Galadima on Friday October 19, ignited yet another fire as youths in parts of the metropolis took to the streets, burning tyres and attacking people who were not of their religious faith. News of this attack spread like wildfire to other places, prompting the youths to also mobilise and attack those who are not of their faith. The traditional ruler was said to be on his way from Kaduna back to his palace in Kachia, headquarters of Kachia Local Government Area, when armed gunmen abducted him, alongside his wife and driver. His orderly and four palace guards were said to have been killed on the spot. Rumours started spreading that the traditional ruler was kidnapped as reprisal for the killings in Kasuwan Magani. On Sunday, October 21, 2018,

at about 4:00pm, the state capital became very tense following rumours of the reprisal attacks in Kujama, another community on the way to Kasuwan Magani, as hoodlums exploited the situation and started attacking people. The incident led to the killing of another 22 people, while many others were injured, according to the Ben Kure, the Executive Secretary of the State Emergency (SEMA). In all, a total of 77 people were killed.

Aftermath Apart from deploying security agents to the troubled spots, the state government also imposed a 24-hour curfew to ensure that the crisis did not engulf the entire city. The police commissioner disclosed recently that a total of 97 people suspected to have taken part in the violence in the affected areas, were arrested and charged to court.

The Presidential Visit During his recent visit to Kaduna State after the last bloody violence that engulfed the city, President Muhammadu Buhari vowed to ensure that the perpetrators are brought to book. At a meeting with traditional and religious leaders, which held at the Indoor Sports Hall of the

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FEATURES Murtala Square, Kaduna, Buhari did not mince words for the perpetrators of the violence. Buhari, while addressing the traditional and religious leaders, said the federal government will not allowed perpetrators of such crimes to get way with it. "The federal government will take strongest measures possible to punish perpetrators of these crimes. If in the past they got away scot free, we shall now hold everyone to account for these latest killings," Buhari declared during the meeting. He said individuals and communities have obligations to comply with the law and uphold peace. These obligations, he noted, “include respecting the rights of others to live wherever they choose, to worship freely and to pursue lawful livelihoods anywhere in this country�, stressing that these are constitutional and human rights that “we as a government and people must uphold and depend.� He said it was unacceptable that criminal elements can visit on citizens the wanton killings recorded in the Kasuwan Magani incident of October 18, 2018 and the unrest around Kaduna metropolis a few days later.

The Governor's Panacea The present administration has tried to find the solution to end the crisis. According to the state governor, Mallam Nasir el-Rufai, the solution is the enforcement of law and prosecution of the perpetrators of violence. He noted that from the Justice Benedict Okadigbo Tribunal on the Zango-Kataf Religious Crisis, past government had not prosecuted anybody involved in various crises. In his address during the president's visit, the governor said: "What we are battling in Kaduna State is the legacy of nearly 40 years of violence and impunity�. He however assured that his administration was determined to overcome the tragic legacy of strife that has become synonymous with the state. Advocating for a strong presence of the instruments of state power and security in communities in the state he said: “Kaduna State is not the only diverse place on this planet, and the people who live in it must not remain trapped in a whirl of hate and division. We need more military, police and paramilitary forces on the ground to affirm the prerogatives of the state, reassure and secure our people, and deter and arrest criminals. Adding that there are new police divisions being proposed in Narayi, Sabon Tasha and other identified locations, the governor commended the president for the approval to establish two army formations in Southern Kaduna Senatorial District. He further appealed to Buhari for additional formations in Kasuwan Magani in Kajuru Local Government to complement the presence of the Nigerian Army School of Artillery and the Nigerian Navy School of Armament Technology in Kachia. He said: “Our society needs to see criminals being prosecuted and convicted for taking lives and destroying property. This signal of the inevitability of sanction will comfort the law-abiding and lawfully punish felons. Therefore, we need the justice sector to ramp up justice delivery. By boosting security assets, improving the pace of prosecutions and strengthening the justice delivery system, the Kaduna State Government will surely be making the state safer. “But our communities have to enlist in the coalition for peace. Beyond boots on the ground, a phalanx of security agents, and expeditious delivery of justice, the ultimate guarantee of peaceful coexistence is the willingness of individuals and our communities to exercise mutual tolerance and live in peace."

Enforcing Riots Damage Law The governor said the state government intends to introduce civic spirit and community responsibility by vigorously enforcing the various provisions of the Riots Damage Law of 1958, the Collective Punishment Law of 1915 and the Peace Preservation Law of 1917. According to him, these 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.

CAN, JNI React Commenting on the issue, the Secretary of Kaduna State chapter of the Christian Association of Nigeria (CAN), Rev. Sunday Ibrahim and his Jamatu Nasril Islam (JNI) counterpart, Alhaji Ibrahim Kufena, maintained that injustice and unfair distribution of resources are the main causes the conflicts. They posited that in order

Some youths, protecting their community against attack

Carcass of one of the vehicles burnt during the clash to ensure lasting peace and harmony among the various groups, every section must be treated fairly and justly. “There can hardly be peace where there is no justice, fairness and equity. If the government is sincere, the problem would be addressed. Fairness in terms of distribution of resources and development of all parts of the state as well as appointments and employment opportunities for all sections without discrimination on the basis of tribe or

Our society needs to see criminals being prosecuted and convicted for taking lives and destroying property. This signal of the inevitability of sanction will comfort the law-abiding and lawfully punish felons. Therefore, we need the justice sector to ramp up justice delivery

religion� the CAN Secretary said. On his part, Kufena said: "First and foremost, there should be justice in appointment, provision of amenities and so on. Let there be justice. There should be tolerance and people should adhere strictly to the tenets of their religious teachings. Islam and Christianity prohibits the killing of people."

Peace Commission's Stategic Plan Also in its strategic plan for 2018 to 2022, the Kaduna State Peace Commission noted enumerated several causes of conflicts in the state. The commission noted that historically, several conflicts have been fueled by mobilisations of ethnic and religious groups. “In fact, the state recorded at least 35 crises between 1980 and 2017 religious and ethnic cleavages are reinforced by perceived economic disparities between communities. These include concerns among groups over perceived inequitable access to social mobility and economic opportunities, as well as provision of social amenities and infrastructure, like schools, health centres, water and electricity supply, location of industries and scholarship awards� the commission stated. It further expressed expressed on the issue of indigene-ship in the Nigerian Constitution without a clear definition, noting that this might have had some unintended consequences, such as cementing divisions among Nigerians along indigene/settler basis rather than on the basis of their being Nigerian citizens. “Indigenes are perceived to enjoy preferential access to land, schools, deepening the social inequalities to the detriment in context," the commission noted. It also attributed the problem to access to land, which is also tied to socio-cultural identities. It is therefore not surprising that it is one of the drivers of conflicts

in Kaduna State. According to the commission, “inequality is another major driver of conflict in Kaduna State. Kaduna has a huge youth population with over 54 per cent of its 6.1million people aged between 15-64 years. The youths are central actors in conflict either as causes, victims or actual perpetrators of conflict�. Furthermore the commission also pointed out the high rate of unemployment among the youths, limited economic opportunities and easy access to drugs, exposes them to criminal tendencies. The commission also noted that given the partisan nature of politics in Kaduna, political leaders and successive administrations have been viewed as representing specific political, ethnic or community interests rather than common interest of all people in Kaduna. It pointed out that based on this partisan nature of political leaders, policies, are therefore also perceived as being skewed in favour of those communities, thereby creating room for politicians to mobilise group identities to achieve personal political ends, which includes engagement in violent conflict. According to the commission, ethnic groups in the state align with specific parties and individual political actors, adding that the politicisation of ethnicity serves to deepen already existing ethnic divides and makes consensus building on matters of mutual interest between groups difficult. Until political leaders muster the courage to tackle these deeply rooted problems, Kaduna, may continue in this circle of brutality. However, observers argued that finding a lasting solution to the problem goes beyond law enforcement and prosecution of the perpetrators. They maintained that addressing root causes of the conflicts is the only permanent solution to ending the violence and the growing animosity among Muslims and Christians in the state.

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

L-R: Managing Director/CEO, FMDQ OTC Securities Exchange, Mr. Bola Onadele Koko: Vice Chairman, FMDQ, Mr. Jubril Aku :Governor, Central Bank of Nigeria (CBN), Mr. Godwin EmeďŹ ele: and Chairman, Board of Directors, FMDQ and Deputy Governor, Financial System Stability, CBN, Mr. Okwu Joseph Nnanna, during the presentation of the FMDQ Game-Changer Awards to the CBN Governor at the FMDQ GOLD Awards in Lagos...recently

L-R; Regional Activation Manager, Lagos/Ogun, Mr. Olufolahan Faseyitan, Nollywood Star, Odunlade Adekola; LCCI Director, Research and Advocacy, Dr. Vincent Nwani and Head, Public Sector,Enterprise Group, Mr. Bola Onifade during the “Glo Day� at the on-going Lagos International Trade Fair....recently

L-R: Board Member, State Universal Basic Education Board (SUBEB), Mrs. Bimpe Carrena; Executive Director, Operations, Wole Adeniyi; Zonal Operations Manager, Lagos Island, Ngozi Atiomo; Chief Executive, Dr. Demola Sogunle, all of Stanbic IBTC Bank Plc; and Head Teacher, Bethel Primary School, Mrs. Akinsanmi, during the commissioning and handing over ceremony of renovated and newly constructed classrooms, sanitary facilities and other projects at the school by Stanbic IBTC Bank, Personal and Business Banking Operations Team as part of the bank’s CSI initiative in Maya, Ikorodu, Lagos... recently

L-R; Vice President, Institute of Chartered Secretaries and Administrators of Nigeria [ICSAN], Mr Bode Ayeku; , Minister of Budget and National Planning, Senator Udoma Udo Udoma; Chairman of Conference, Chief Olusegun Osunkeye; President / Chairman of Governing Council, ICSAN, Mr Samuel Kolawole; and Registrar/ Chief Executive OďŹƒcer, ICSAN, Mrs Nkechi Onyenso, during the 42nd annual conference of the Institute in Lagos... recently PHOTO: ETOP UKUTT

L-R: State Controller, Federal Ministry of Labour and Employment, Nnamdi Enuah, representing the Minister of Labour and Productivity; President, International Commission on Occupational Heaith (ICOH), Dr Jukka Takala; Medical Director, Federal Medical Center, Ebute-Metta, Dr Ademola Dada, resenting the Minister of Health; Lagos State Commissioner for Special Duties, Oluseye Oladapo, representing the Lagos Governor; and National President, Society of Occupational and Environmental Health Physician of Nigeria (SOEHPEON), Dr Okon Akiba, during the annual ScientiďŹ c Conference of SOEPEON in Lagos‌ recently PHOTO: YOMI AKINYELE

L-R: APC Lagos State Governorship Candidate, Babajide Sanwo-olu; Founder, Honeywell Group, Oba Otudeko; and PDP Lagos State Governorship Candidate, Jimi Agbaje; during a reception for Prince of Wales, Prince Charles with the Nigeria captain of industries held at the British Deputy High Commissioner Resident, Ikoyi Lagos State... recently PHOTO: KUNLE OGUNFUYI

L-R: Executive Director, SIMS Nigeria Ltd, Mr. Ike Eyisi; Executive Director, Technologies Distributions Ltd, Ms. Sarah Agha; Event Compere, Ms. Bisola Aiyeola; and Logistics Manager, Samsung Electronics West Africa, Mr. Eunso Shin during the launch of Samsung’s newest and smartest Television, The Samsung QLED TV, 2018 model, in Lagos‌recently

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Quick Takes United Capital Appoints Directors

INVESTORS’ FORUM

L-R: Executive Director/Chief Financial Officer, C & I Leasing Plc, Mr. Alex Mbakogu; Company Secretary, Mr. Mbanugo Udenze; Managing Director/CEO, Mr. Andrew Otike-Odibi; Audit Committee Member, Christy Uwalaka and Managing Director, Centurion Registrars, Mr. Basil Aharanwa, at the C &I Leasing investors’ forum in Lagos‌recently ‌‌ SUNDAY ADIGUN

FG Urged to Harness Maritime Potential to Boost GDP Eromosele Abiodun The federal government has been urged to harness its huge maritime potential as the sector offers huge opportunities for the country to shore up its Gross Domestic Product (GDP). The National Chairman of the Nigerian Institute of Marine Engineers and Naval Aechitects (NIMENA), Mr Henry Unuigbe, stated this in Lagos while speaking at the 7th annual conference/annual general meeting of the institute in Lagos. According to him, “With a long coastline of about 420 nautical miles and a maritime space of about 83,903 nm, Nigeria is unarguably an important maritime nation and well placed to explore the opportunities therein. However, the country has not been able

ECONOMY to fully take advantage of the industry potentials to grow it to the benefit of Nigerians. “The present economic situation in Nigeria calls for concerted efforts notwithstanding the lack of action on the outcome from similar efforts in the past. “We must continue to engage ourselves on how the challenges before us can be overcome. When we do this, history will ever remain kind to us.� Ships, Unuigbe stated, remain an important asset in maritime activities and oil and gas operation, adding that Nigeria must leverage on her position as a maritime nation and take strategic steps to stimulate growth in the industry. “The Nigerian ship-owner is plagued with outdated maritime

assets and limited access to capital. Those lucky to have access for the acquisition of ships do so via a double digit interest arrangement that end up -in most cases on a sad note. “There is no doubt that this has greatly hindered development and growth in the industry. The challenge the Nigerian ship-owner faces in this regard once again brings to fore the question: Why are we not building ships�? “It may interest you to know that NlMENA had since provided answers to this this question in previous conferences,� he said. He stated that in a period of economic challenges of any nation, patriotic and great minds take altruistic steps and offer their contributions to save their fatherland. “Rather than seat on the

United Capital Plc, a leading investment banking group has announced Sir Stephen Nwadiuko and Mr. Sonny Iroche as non-executive directors following the retirement of Ambassador John Shinkaiye. Thecompanysaidinastatementattheweekend,thattheappointments were subject to requisite regulatory approvals eective October 2, 2018. Nwadiuko is a fellow of Chartered Institute of Bankers of Nigeria(CIBN), InstituteofCharteredAccountantsofNigeria(ICAN),ComplianceInstitute of Nigeria as well as an associate of CertiďŹ ed Pension Institute of Nigeria. He is a retired Deputy Director, Banking Supervision Department of the Central Bank of Nigeria (CBN) where he worked for over 20 years. He was a former council member of the CIBN and Chairman, CIBN, Abuja Branch. He iscurrentlyaMemberoftheInvestigatingPanelofboththeCIBNandICAN as well as a member of the Board ofTrustees of the Compliance Institute Nigeria. He was recently appointed as the Managing Director/CEO of First Guarantee Pensions Limited by the National Pensions Commission. On the other hand, Iroche is a seasoned ďŹ nance executive with over 30 years’ experience in banking, power and public service. He has served on various boards such as the International Glass Industries Limited and GT Bank Sierra Leone. According to the company, these appointments will further cement United Capital as the leading investment banking group in Nigeria. Speaking on their proven track record and broad experience, Board Chairman, United Capital, Mr. Chika Mordi said: “Stephen and Sonny both bring robust insight and perspective to the quality of deliberations on the board, I welcome them both on board.â€?

Bank Seals Risk Participation Agreement

The African Export-Import Bank (Afreximbank) and the CDC Group Plc have signed a $100-million master risk participation agreement to support Afreximbank’s trade facilitation Programme. Under the terms of the risk participation arrangement, CDC would provide unfunded risk participation to Afreximbank as the Bank provides trade ďŹ nance products that include trade conďŹ rmation services; trade conďŹ rmation guarantee; and irrevocable reimbursement undertakings. Speaking during the signing ceremony, Afreximbank’s Executive Vice President for Business Development and Corporate Banking, Amr Kamel, said the agreement would support Afreximbank’s trade conďŹ rmation services under which the Bank provides conďŹ rmation lines to African ďŹ nancial institutions to support their trade businesses and increase capacity to undertake trade ďŹ nance transactions. It would also support the Afreximbank Trade ConďŹ rmation Guarantee Programme which offers full guarantee to international banks on behalf of African ďŹ nancial institutions, with the aim of resolving the issue of lack of credit limit by international/conďŹ rming banks for the African counterparts or situations of limited credit limit due to capacity constraints, among others. Also speaking, the Director, Supply Chain Finance and Trade Finance of CDC, Admir Imami, who signed on behalf of his company, said the CDC was excited at the opportunity to work with Afreximbank and looked forward to many more joint projects and deals in the future. CDC Group is a United Kingdom development ďŹ nance institution.

fence, they step out boldly and contribute to nation building. Truly, Nigeria cannot shy away from shipbuilding as its benefits are unimaginable. Continuous neglect of the shipbuilding sub sector will not augur well for our dear nation. “While it is acknowledged that investment in shipbuilding is humongous, government must create the enabling environment including putting sustainable policies in place in order to attract investment in this area, “he said. He pointed out that ship repair yards are essential part of the infrastructure needed to UAC Appoints Ezinwa HR Director support shipping. The Board of UAC of Nigeria Plc has announced the appointment of “There is no doubt that this Dr. Vitus Ezinwa as the Group Human Resources Director. critical infrastructure is presently Ezinwaisaseasonedbusinessmanagerandhumanresourceprofessional insufficient and not capable of with experience gained in leading multinational corporations. He holds a meeting the industry demand. Bachelor’sdegreeinSociology/AnthropologyfromtheUniversityofNigeria Nsukka, MBA in Management from Lagos Business School, a Masters in Continued on page 24 Applied Business Research and a Doctorate in Business Administration, both from Swiss Business School, Zurich, Switzerland respectively. He had worked as Group Human Resources Director for Promasidor Africa; Human Resources Director, Coca-Cola Nigeria & Equatorial Africa with responsibility for 10 countries and Human Resources Director for British American Tobacco, West & Central Africa covering Ghana, Benin, Niger to access a 1.2 billion strong & Togo. He was also the Group Human Resources Director for Tropical market (including a growing General Investments (TGI) Group. middle class) and thus to benefit Ezinwa is a member of the Advisory Board of Afterschool Graduate from economies of scale. Development Centre and the Institute of Directors as well as a Fellow of He noted that expanding the Chartered Institute of Personnel and Development (CIPD) UK. He is markets offer opportunities a co-founder and Director of HR Network Africa and was until 2014, a to develop regional value member of the Lagos Business School’s Advisory Board. chains capable of enhancing diversification and competitiveness, consolidate and integrate production infrastructure and processes across borders. “If you want to be successful in According to him, constrained building wealth, you must build access to markets limits the the right circle of friends, who can growth of firms. set goals and come back together to Therefore, for domestic firms, check the rate of achievement, she advised women. The wife of a rich getting rid of local market man is not a rich woman; she has a constraints may improve growth borrowed appearance� prospects and access to finance and technology in the global economy, he added. “Full implementation of the AfCTA would require the

Afreximbank Lists BeneďŹ ts of AfCTA to Intra-African Trade Ebere Nwoji The African Export-Import Bank (Afreximbank) has reiterated that the African Continental Free Trade Agreement (AfCTA) will boost intra-African trade. The Bank also said the agreement would lead to specialisation among African countries in areas they have comparative advantage. The Director and Global Head Communications and Event Management, Afreximbank, Mr. Obi Emekekwue, who said this at a two-day media workshop held in Casablanca, Morocco, at the weekend, noted that the pact when fully operational, would commit African economies to the removal of trade barriers on imports (tariffs and quotas). This, according to him, would lead to a reduction in import

ECONOMY cost and, consequently, consumer prices. “Consumers will benefit by being able to consume a larger variety of African products in the single market. These supply and demand effects together engender welfare gains in the form of consumer surpluses in importing African countries,� he added. In addition, he said manufacturers in importing countries would also gain through declining production cost. “This may improve the competitiveness of domestic producers and enable African economies to integrate into global value chains,� he said. According to him, implementing the AfCTA has the potential

to enhance efficiency of African firms, may result to structural transformation as skills and technology of African countries’ exports improves. Pointing out examples of such benefits, Emekekwue, said, “43 per cent of goods traded within Africa are manufactured products. In addition, the technology content of intra-African trade exceeds that of African trade with the rest of the world (UNCTAD 2018). “Medium- and high-technology manufactures comprise 25.4 per cent and 14.1 per cent of trade within Africa. “Intra-African trade also has a higher industrial content than African countries’ trade with the rest of the world.� He said beside the cost advantages, the AfCTA would allow African domestic firms

Chairman, First Bank, Continued on page 24

Mrs Ibukun Awosika

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BUSINESSWORLD FG URGED TO HARNESS MARITIME POTENTIAL TO BOOST GDP

“Without adequate and suitable repair yards, ship-owners will have no choice than to take their ships elsewhere for their maintenance and in most cases at a relatively higher cost. The economy suffers as a result of this. “How do we then ensure that the right steps are taken to reverse the situation for the benefit of our economy? Our erudite scholar, one of the guest speakers, is here to provide answers to this question. “There is no doubt that improvement in cargo throughput in our ports has the potential to contribute to the stimulation of our’ economy. Existing infrastructure in and around our ports have been seriously challenged with its attendant impact on the efficiency in port operations. “While we recognise recent report of improvement in cargo throughput in our ports, it remains facts that more work needs to be done. it is also a fact that some ports presently have low record of utilisation, part of which is due to preference for other ports. “This singular factor accounts significantly for the unpleasant traffic gridlock in port across roads in Lagos loading to huge loss of man hour and the concomitant effect on the economy, “he said. AFREXIMBANK LISTS BENEFITS OF AFCTA TO INTRA-AFRICAN TRADE

diverse countries in Africa to create shared institutions to provide public functions. “There are clear economies of scale advantages in spreading these costs across the AfCTA area�. He said scenarios of the economic impact for African countries under four policy scenarios for the agreement were recently tested under Policy Scenario 1, which entails complete removal of all tariffs and the total welfare gains amounted to US$3.58 billion, GDP increased by 0.65 per cent and per capita household utility by 0.41 percent. He said the volume of exports under the scenario grew by 2.94 per cent, imports increased by 3.13 per cent and terms of trade improved by 0.39 per cent.

NEWS

Report Cases of Illegal Charges by Banks, CBN Tells Customers Nume Ekeghe

but not above the required pegged rate. He further added: “Banking services are not free anywhere in the world. If you can stay in your bedroom to make a transfer in the comfort of your bedroom, someone is paying for it and it is not government subsidy. “People have invested in the bank, switches and in all the systems and those investments, people have made and they

wait to reap from it. “But what the CBN would not do is to allow your banks to reap you off.� Also, speaking on recent warning to those who mishandle the naira, he said: “In collaboration with law enforcement agencies, we are happy to record our first conviction of someone who abused the naira in Ibadan yesterday. “We are collaborating with the Police because it is their

duty to enforce the law and we are also talking with the judiciary to ensure that we provide mobile courts and judges are designated.� He appealed to Nigerians to desist from abusing the naira, because those caught could go to jail. Okorafor, also urged more women to approach banks for its micro, small and medium scale enterprises loans, saying: “We have a special place for women and we have increased

the number of women we have because we believe that women are more efficient, more reliable and more enterprising than men. “It is easy to give more loans to women because they will pay back. They are not like those of us (men) who may not pay back.� He said the Bank had developed schemes for financing businesses especially the MSMEs through its development finance initiatives.

The Central Bank of Nigeria (CBN) has advised bank customers to always report cases of exorbitant charges by their financial institutions. The central bank also disclosed that in collaboration with law enforcement agencies, it recently arrested a group of currency mutilation offenders in Ibadan, Oyo State, for abusing the naira. The Director, Corporate Communications, CBN, Mr Isaac Okorafor, said this in Lagos at the weekend, during the CBN Day, at the just concluded Lagos International Trade Fair. Responding to questions on excessive ATM charges and other bank charges, Okorafor said: “If you feel aggrieved that an ATM is extorting you, if it happens, take out time to go your bank to protest. And if they deny, do it in writing after you get their response and whether they respond or not, just bring it to us through an email and we would take note of it. “If consumers of financial services do not stand up to insist on their rights, CBN would not be in any banking hall trying to protect you. So please find time to report any wrong doings by the banks.â€? He, however, explained that banking services that provide convenience have had various L-R: Representative of the Emir of Kano, Alhaji Shehu Mohammed; Chief Executive Officer, Nigerian Stock Exchange, Oscar Onyema; Managing levels of investments which Director, Investment One Vencap, Dr Ore Sofekun; Non-Executive Director, CDC Group Plc, Andrew Alli and Chief Executive Officer, Sterling Bank customers need to pay for, Plc, Abubakar Suleiman, at the CFA Society Nigeria Investment Conference 2018 in Lagos‌ recently

INVESTMENTCONFERENCE

NIPOST Gets Approval on Digital Addressing System Emma Okonji The Nigerian Postal Service (NIPOST) has received the approval of the federal government to begin a nationwide Digital Addressing System (DAS) and Address Verification System (AVS). Based on this, the agency has commenced the DAS and AVS systems nationwide and has digitally uploaded the addresses of individuals and organisations on its online portal, which is now accessible to all, including government. The Digital Addressing System and the Address Verification System, were part of NIPOST’s new products showcased at the Lagos International Trade Fair, organised by the Lagos Chamber

of Commerce and Industry (LCCI), which ended yesterday. Speaking on some of the new products and services that were on display at the NIPOST stand all through the trade fair, the Lagos Zonal Manager at NIPOST, Mrs. Adebola Ayeni, disclosed that the DAS was one of the new products recently approved by the federal government, “which sets NIPOST on a digital path, in compliance with the directive of the Universal Postal Union (UPU).� “Following the directive of UPU on the implementation of digital addressing system across nations, the global rate of postage has changed to meet the needs of customers. “Before now, the addressing system in Nigeria was a huge

challenge for NIPOST, which made mails delivery difficult and the volume of undelivered mails and parcels at NIPOST increased. “To address the issue, NIPOST seek the approval of digital addressing system for Nigeria and we recently got the federal government nod on it and we have commenced the process in Nigeria,� Ayeni said. According to her, going forward Nigerians would have the opportunity to access their digital addresses from the agency’s online portal, using smartphones. “We told all participants that visited our stand at the trade fair that NIPOST now has digital addressing system, which they can access online.

“With digital addressing system, NIPOST is able to put all addresses of individuals and organisations in a digital format and made them accessible to all through our portal. “With it, we will be able to deliver mails and parcels to all locations in the country, and individuals and organisations can also use it to validate and authenticate the registration of their businesses and houses.� The Deputy General Manager, Commercial Business Unit (CBU), Mails, Dr. Michael Umo, who also spoke on the Address Verification System (AVS), said, the new system has helped NIPOST and the general public to access addresses from the portal. “It has helped NIPOST to solve the challenges of postal

deliveries and it has helped the government and the populace to have proper address verification of individuals and organisations. It is also an avenue for revenue generation for government and job creation for the citizens,� Umo said. “We also showcased our financial services in line with the Central Bank of Nigeria (CBN) to reduce financial inclusion gap in Nigeria. “NIPOST is a super-agent in the financial inclusion drive of CBN and we are partnering Keystone Bank and Wema Bank in the project, where we use our over 1,500 post office branches nationwide for financial services transactions, from where customers could send and receive money, Ayeni added.

Africa Investment Forum Exceeded Expectations, Says AfDB Group Business Editor

Obinna Chima

Capital Market Editor

Goddy Egene

AgriBusiness/Industry Editor

Jonathan Eze

Comms/e-Business Editor

Emma Okonji

Senior Correspondent

Raheem Akingbolu (Advertising) Correspondents

Chinedu Eze (Aviation) Linda Eroke (Labour) Eromosele Abiodun (Cap Mkt) Ejiofor Alike (Energy) James Emejo (Nation’s Capital) Reporters

Nume Ekeghe (Money Market) Nosa Alekhuogie (Maritime)

The Africa Investment Forum that was organised recently by the African Development Bank (AfBD) ended on a high note with the closing panel comprising heads of Development Finance Institutions (DFIs) unanimously lauding the unique initiative, calling it an exceptional gathering that “exceeded all expectations.� According to a statement, the President of the AfDB, Dr. Akinwumi Adesina told the more than 1,000 delegates, that: “The needle is shifting, pointing to the right direction, pointing to Africa. I am thankful for the investors, I am thankful for the confidence they have in Africa. Africa has grown up. Africa is not going to

be developed by aid. It will be developed by investment and I think you are beginning to see it.� Participants from DFIs, institutional investors, sovereign wealth, equity and private sector CEOs from across the continent congregated in Johannesburg, South Africa to attend the first ever transaction-based Forum on the continent. At midday Friday, of 61 transactions valued at US$40.4 billion tabled for discussions in boardroom sessions, 45 deals worth over US$32 billion secured investment interest. However, the statement pointed out that final numbers would be disclosed in the coming days. Adesina

described the outcome of $32 billion worth of transactions as a big success. “I could not be happier‌but we don’t want to congratulate ourselves. The responsibility that lies on our shoulders is so huge. This is just the beginning.¨ “The presence of seven African heads of state and heads of governments also sent a strong signal to global investors that Africa’s leadership is committed to creating a conducive business environment for investment to land on a smooth runway,â€? the statement added. President Cyril Ramaphosa of the Republic of South Africa; President Sahle-Work Zewde

of Ethiopia, President Alpha Conde of the Republic of Guinea; President Macky Sall of Senegal; President Nana Dankwa AkufoAddo of Ghana made the trip to South Africa for the forum. Other officials included the Vice President Yemi Osinbajo; the Prime Ministers of Rwanda, Edouard Ngirente and Cameroon, PhilÊmon Yang, as well as ministers representing the Kingdom of Morocco, Cote d’Ivoire, Tanzania, Niger, and Gabon. In attendance also were Governors and Board members of the African Development Bank. Ethiopia’s President Sahlework Zewde, first woman President to hold that position in the country told delegates at

the official opening ceremony that the Africa Investment Forum was fundamental to changing the narrative on Africa. “Looking at Africa only through the lens of peace and security is not getting us anywhere. We have to address perceived risk (on the continent) and have to change this mindset,� she added. Energy, infrastructure, food and agribusiness opportunities and transactions attracted high-level from global and African investors, positioning the Forum as the next big investment frontier, and on Global and African investors’ radars. Africa-to-Africa investment emerged as a key take away from the Forum.

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BUSINESSWORLD

Investors Recover N27 Billion as Equities Market Pares Losses Goddy Egene The Nigerian equities market recorded a positive performance last week as it recovered part of the losses suffered the preceding week. The development followed renewed buy interest in bellwether stocks, which led to the Nigerian Stock Exchange All-Share Index (NSE ASI) rising 0.23 per cent to close at 32,200.21, compared to a decline of 2.38 per cent the previous week. In spite of the corporate earnings for the nine months ended December 31, 2018, that showed relative improvement, the market had closed in the bear territory two weeks ago. However, a renewed buy Interest in bellwethers such as Nestle Nigeria Plc, Seplat and Nigerian Breweries Plc reversed the negative trend. While the NSE ASI rose 0.23 per cent, market capitalisation added N27.5 billion to close at N11.756 trillion. Similarly, all other indices finished higher with the exception of the NSE Banking, NSE Insurance, NSE Industrial Goods and NSE Pension Indices that finished lower by 0.47 per cent, 1.90 per cent, 3.81 per cent and 0.31 per cent respectively. But analysts at Cordros Capital Limited noted that despite recent gains, outlook for the market remained negative in the short to medium term, amidst political concerns surrounding the 2019 elections, and absence of a positive market trigger. “However, positive macroeconomic fundamentals remain supportive of recovery in the long term,� they added. In the United States (US), the midterm elections impacted positively on the markets. According to Afrinvest (W.A), the outcome of the elections triggered a global equities rally as the Democratic Party won control of the House of Representatives for the first time in eight years, although markets later pared gains towards the end of the week. The implication of the election outcome was that the House would exercise more oversight over President Trump’s decisions, which could potentially result in some measure of calm, especially as it relates to global relations. However, this could also mean further divisiveness and conflict that would eventually result in slow paced reforms and decision making, which are a bad signal for investors. The performance of developed markets was largely bullish, even as sell offs increased at the end of the week, due to fears of a further interest rate hike by the US Federal Reserves. In the US , the S&P 500 closed higher by 3.1 per cent and the Nasdaq Composite was up by 2.4 per cent However, Hang Seng was the only index that recorded a decline (-3.7per cent) because of the expected FED interest rate hike and a slowing economy. Across markets in BRICS, only two of five indices were up. Brazil’s Ibovespa had the worst return at -3.2 per cent , followed by China with a decline of 2.9 per cent . In view of the ongoing trade war with the US, China is offering tax breaks and more financing to support private sector companies affected by the trade tensions, as well as a slowing economy. Similarly, South Africa’s FTSE/JSE All-Share was down by 1.9 per cent. On the other hand, Russia

per cent respectively. In Asia and Middle East, there was a bearish performance as four of the five markets recorded negative returns due to expectations of an interest rate hike by the US Fed. UAE ADX General Index was worst hit, sliding 2.1 per cent, trailed by Turkey’s BIST 100 Index which declined 1.2 per cent while Thailand SET and Qatar DSM 20 Indices declined 0.8 per cent apiece. On the positive side, Saudi Arabia recorded an increase of 1.8 per cent.

RTS and India’s BSE Sens Indices recorded positive performances, increasing 0.5 per cent W-o-W respectively. In Africa, there was a bullish

performance as four of six markets tracked recorded gains. Egypt’s EGX30 had the best return with a gain of 4.0 per cent W-o-W, followed by Morocco’s Casablanca

Market Turnover Meanwhile, market total turnover in Nigeria was 1.079 billion shares worth N18.196 billion in 14,372 deals compared with 1.267 billion shares valued at N20.346 billion that exchanged hands in 15,088 deals the previous week. The Financial Services Industry led the activity chart with 909.849 million shares valued at N12.765 billion traded in 7,822 deals, thus contributing 84.3 per cent and 70.2 per cent to the total equity turnover volume and value respectively. The Consumer Goods Industry followed with 52.651 million shares worth N3.342 billion in 2,876 deals. The third place was Oil and Gas Industry with a turnover of 36.318 million shares worth N674.243 million in 1,324 deals. Trading in the top three equities namely Zenith Bank Plc, Access Bank Plc and FBN Holdings Plc, accounted for 557.380 million shares worth N9.434 billion in 3,231 deals, contributing 51.6 per cent and 51.8 per cent to the total equity turnover volume and value respectively. Also traded during the week were a total of 4,065 units of Exchange Traded Products (ETPs) valued at N17,357.55 executed in 1 deal compared with a total of 15,168 units valued at N216.251 million that was transacted two weeks ago in nine deals. A total of 78,261 units of Federal Government Bonds valued at N78.378 million were traded last week in 61 deals compared with MASI which increased 1.4 per a total of 14,581 units valued at cent while Mauritius SEMDEX N14.472 million transacted the increased by 0.4 per cent. Ghana’s previous week in 34 deals. GSE Composite and Kenya NSE-20 declined by 1.1 per cent and 0.4 Price Gainers and Losers The price movement chart showed 27 equities appreciated in, higher than 18 in the previous week, while 39 equities depreciated in price, lower than 42 of the previous week. UAC of Nigeria Plc and NPF Microfinance Bank Plc led the price gainers with 11.1 per cent apiece. Presco Plc trailed with 10.6 per cent, just as NAHCO Plc and John Holt Plc went up by 10 each. MCNichols Plc and Veritas Kapital Assurance Plc and Nestle Nigeria Plc garnered 9.7 per cent, 8.0 per cent and 7.4 per cent in that order, while Seplat and Diamond Bank Plc chalked up 6.9 per cent and 6.6 per cent respectively. Conversely, Mutual Benefits Assurance Plc led the price losers with 23.3 per cent, trailed by Flour Mills of Nigeria Plc with 16.7 per cent. Lafarge Africa Plc shed 14.2 per cent, just as Cement Company of Northern Nigeria Plc lost 11.6 per cent. Other top price losers included: Oando Plc (10.5 per cent); PZ Cussons Nigeria Plc (10 per cent); UACN Property Development Company Plc (9.6 per cent); Pharma-Deko Plc (9.5 per cent); Regency Assurance Plc (9.1 per cent) and Prestige Assurance Plc (8.9 per cent).

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Okoh: It is Impossible for FG to Repossess the Discos The Director General of the Bureau of Public Enterprises, Mr. Alex Okoh, believes the challenges confronting the power sector are being addressed gradually, even as he noted that the key issues facing the sector are lack of liquidity and the absence of a price regime that compensates costs adequately. Obinna Chima presents the excerpts: The funds from the sale of some assets such as the Yola Disco and Afam Power Plant are expected to partly fund the 2018 budget. What is the update on that transaction as we are almost approaching the end of 2018? We had estimated that we would reach financial close from the sale of Yola and Afam by November 2018, in time to be able to make our N300 billion commitment to the 2018 budget. However, because of certain delays in the appointment of transaction advisers and the process of executing the sales, the new timeline for the sale of Afam is January 2019 and also Yola Disco is January 2019. So, there is a two months delay on that. The power sector is still facing a lot of challenges several years after the privatisation exercise. Is it that the investors didn’t carry out the necessary due diligence before purchasing the assets? In terms of estimating the value of the assets, I believe due diligence was done. So, there is a transaction due diligence which the core investors at that point in time were able to fairly estimate. I think where the issue is, is in terms of technical due diligence and being able to estimate the loss level of those different Disco franchise areas. So, they were not able to estimate the actual aggregate technical commercial losses that the Discos were experiencing at that point in time. Principally, because of labour issues, the unions did not allow that activity to take place. What happened was that the performance agreement provided for a new level to be estimated post acquisition, which the core investors then did a year after, to be able to ascertain the actual loss levels of those assets. In your opinion, do you think the power sector privatisation was appropriate? I think that, that debate is essentially academic and not useful at this point in time. What I always say is that the power sector privatisation which led to the privatisation of 11 Discos and about 7 Gencos, is perhaps the biggest privatisation on the continent of Africa. It was a bold initiative that we decided to do the entire sector privatisation at once. With that kind of massive privatisation, it is believed that there would be gaps, there would be challenges and there would be issues. And, we are seeing those issues cropping up. But the important thing is that we have a credible document and a credible process to reset the entire sector on issues around cost recoverability, issues around having a problem passing on the actual cost of power to the consumers, should government then provide subsidy for the actual cost of power? So, all of those issues are being address in the power sector recovery programme that was done in conjunction with the World Bank and it is believed that with time, some of the challenges in the power sector should be resolved. For me, the key issue in the power sector is that of liquidity and liquidity is a function of choice. If the activities of the enterprise is not generating sufficient revenue, relative to the cost of providing that service, then you have a gap right there. And the longer it takes to bridge that gap, the more the quantum of the liquidity challenge that opens up. So, there is a historical liquidity gap that we need to address and when we are able to implement a price regime that compensates costs adequately, then we hope that we don’t keep expanding that gap. But let me use this opportunity to mention that we are also in the process offering up the shares of SAHCOL, through an initial public offering (IPO) SAHCOL was sold 100 percent to the current core investor. But there is a provision in the sales agreement that guarantees that five years, post-sales, we would be able to offer a certain percentage of the shares of SAHCOL to the general public for

Okoh

investment. That also applies to Nigeria Reinsurance. We are also going to do an IPO for Nigeria Reinsurance in the next three or four months. And it is a hybrid offer, because the federal government is offering 20 per cent of its 31 per cent, while the core investor is offering 20 per cent of its 51 per cent. So, a total of 40

Principally, because of labour issues, the unions did not allow that activity to take place. What happened was that the performance agreement provided for a new level to be estimated post acquisition, which the core investors then did a year after, to be able to ascertain the actual loss levels of those assets

per cent shares of Nigeria Reinsurance would be coming into the market very soon. Sometimes next year and precisely, around March, we would also be offering some of the shares of Eleme Petrochemical through an IPO. We personally believe that is a more credible and more democratic way of making what we general regard as national patrimony or common patrimony, available to the generality of Nigerians. So, there can be retail participation in the ownership of these assets. So, if you go to the market and you want to buy 1,000 units of SAHCOL or Nigeria Reinsurance, you can buy. So, in my sense, it creates a better image for the privatisation programme and moves the narrative away from the fact that people are selling national patrimony to friends, private entities and all of that. If you have a sense that people can participate in a common ownership of this assets, compared with the pushback and resistant that the privatisation received in some areas, I think it will be better. When is the review date for the Performance Agreement in the power sector and part of the agreement states that the federal government has right to repossess these assets at one dollar each, if the investors perform below expectation. Do you foresee the government enforcing the call option? The review date is January 2020. The assets were handed over to the core investors, the Discos particularly, on November 1, 2013. So, ordinarily, the review date would have been October 31st, 2018. But you will recall that at the point at which the

assets were handed over, there were certain assumptions made in the performance agreement which needed verification, that could not be achieved at the point that the acquisition took place, principally establishing the loss revenue for all the Discos as at November 1, 2013. So, the performance agreement provided for a process where the baseline losses would have established post-acquisition. That is, we provided a year, post-acquisition, for that to be provided for that to be concluded by the core investors and would assume ownership and control of the Discos. So, that was concluded in December 2014, which then give the effective date for the performance agreement to be January 1st 2015. So, the expiry date for the current performance agreement for all the Discos, with the exception of Kaduna, which happened a year after. So, Kaduna Disco will be due December 2020, while all the remaining 10 Discos, their performance agreement would be due for review in December 2019. So, that is the state of the agreement. You are also very correct that if the performance expectations are not met, there is a provision that the federal government can acquire those Discos for one dollar. But you can only do that if the default has been entirely as a result of the Discos’ inefficiency. But, what we see in the power sector in the past five years is that the federal government has also been in Continued on page 27

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OKOH: IT IS IMPOSSIBLE FOR FG TO REPOSSESS THE DISCOS significant default in terms of the expectations and performance objective that was set out as core responsibilities of the federal government in the performance agreement. Issues around tariff for example, issues around subsidy and others. So, there are lots of expectations that have not been met by the government. So, it will be totally impossible for us to exercise the call option, which is to repossess the Discos for one dollar. So, that is not going to happen because when you are managing a privatisation process, it is important that you maintain the confidence of the private sector, so that they don’t lose faith in the process. The non-performance cannot be attributed to the inefficiency of the Discos and so we would be sending the wrong signals if we attempt to repossess those Discos for one dollar each. What is the update on Ajaokuta Steel because recently, we were made to understand that the estimate for the completion of the steel complex is $650 million? You are right that the estimate for the completion status of Ajaokuta is about 97 per cent, but it is not a percentage issue. It is the value of the funds that is required for the balance of three per cent to be completed, that is the key issue. You estimated it rightly to be around $650 million. So, the issue is, should this amount be coming from the government or does it make sense for us to go back to the original concept of the transaction and get a concessionaire to provide the funding, complete the infrastructure and then put it into production? So, we think that the second option is a better way to go. However, you will recall that there were issues around the legal ownership of Ajaokuta. There is a particular company – Global Infrastructure - which lays claim, not only to Ajaokuta, but also the ancillary assets, including the National Oil Mining Company. So, there are lots of issues around the ownership. But what we decided is that there is an out of court settlement that was entered into between the federal government and this particular company. And the out of court settlement ceded the National Oil Mining Company to Global Infrastructure, gave Ajaokuta back to the federal government, and then provided an avenue for Global Infrastructure to take part in the concession of the Warri old port. So, that out of court settlement is what we are trying to put into effect and then get the asset set for concession. Currently, we have interest on two key companies who approached government to be the concessionaires of Ajaokuta. We have also looked at the strategy of unbundling the about 41 distinct business units in that entire complex. So, the question initially was, is it better to fragment Ajaokuta and concession it along the 41 business unit or is it better to concession as a single entity. We decided that the best and most optimal structure will be the single unit. So, that is the transaction strategy that we have agreed on. Once we are able to resolve these legal issues, then we can begin to engage these interests that have been expressed in Ajaokuta. It is not a very

Yes, the Lagos Chamber of Commerce and Industry (LCCI) did express interest in the Lagos trade fair complex, but our position is that we do not want to engage in any transaction or engage in any process that is not transparent, competitive and open. So, we are not averse to the LCCI being a concessionaire for the Lagos International Trade Fair, but they must subject themselves to the open tender process for the selection of the concessionaire of those asset. They actually wrote to the bureau, asking for us to concede the asset to them, but we said no and that if they are interested, when the bid opens they should submit their bids and it will go through an open, competitive and transparent manner. That is because we need to run away from the accusation of selling government’s assets to vested interests or friends of the government. We should be able to maintain the transparency and integrity of our process, so that we are accused of any under hand dealings. Yes, there is a court case currently on the Lagos International Trade Fair Complex, which was instituted by the former concessionaire. The former concessionaire was a serial defaulter in terms of the concession agreement. As of the time we ejected him out of the complex last year, he was owing the federal government, N6.2 billion in unremitted concession fees and I don’t think that any responsible government would continue to tolerate that. But it goes back to the core of the issue – the process of selecting the private sector investor in those enterprises. If your process does not, through transparency, ensure that the best fit, the best qualified, the most competent core investor emerges as the preferred bidder for the asset, then you are going to have challenges.

Okoh

easy problem to resolve, but my estimate is that in the next few months, we should be able to get a clear resolution around Ajaokuta. In your presentation you talked about challenges and non-cooperation of some ministries, departments and agencies (MDAs) in carrying out your mandate. Can you list some these MDAs? You don’t come to a public space as a government agency and then begin to expose our dirty linens in public. I think the challenges majorly from the MDAs is because of the fact that they don’t want to lose control of these enterprises. So, you can something appreciate that fact. But the point is that it actually may be destructive in trying to get the best for these enterprises. These are companies, assets, enterprises, that have resided traditionally under the control of MDAs, so, they are usually very reluctant to lose control or see those assets go into private

management or other form of structure. Yes, the resistant can be severe sometimes and the way we try to address this, is to bring the MDAs into the transaction process on a collaborative basis. So, we set up what is called project delivery teams for each of those enterprises and we have key stakeholders, including representatives of the ministries on those project delivery teams, so that they can get a sense of common management of the process of divesting government’s interest in any particular enterprise. So, that has helped significantly in reducing the push back from the MDAs. So, it can be very severe sometimes. The Lagos Chamber of Commerce and Industry (LCCI) recently disclosed that it expressed interest in the Lagos International Trade Fair Complex. What is the update on the privatisation of the asset?

Why are we still having issues with the privatisation of Daily Times and Delta Steel? Incidentally, I was in the bank when Daily Times was acquired, and the financing proposal by this particular company for Daily Times, was actually brought to the bank for us to finance and we saw that the fellow did not have the technical capacity, the competence and even the integrity to acquire that asset. So, when the process is not structure in such a way that it protects issues around competence, integrity and so forth, you are going to have these kind of outcome we have with Daily Times, which for us is one of the said stories of privatisation. You also disclosed plan to recapitalise the Bank of Agriculture. What amount are you considering? The current capitalisation of the Bank of Agriculture is negative. It has negative shareholders’ funds right now. So, we want to recapitalise to the tune of N250 billion for the equity of the BOA. Like I mentioned, the Central Bank of Nigeria (CBN) would own 40 per cent of that N250 billion, the private sector investors would own 20 per cent of that and then the farmers’ cooperatives would 40 per cent.

Ekpo Calls for Increased Private Sector Investments in Nigeria Obinna Chima The Director General, West African Institute for Financial and Economic Management (WAIFEM), Prof. Akpan Ekpo, has called for increased private sector investments in Nigeria. This, he said was important to stimulate economic growth and help the country achieve its quest for economic diversification. Ekpo, said this in a speech he presented at the Nigeria Eminent Personalities and Corporates Awards (NEPAC)/ Lectures that took place in Lagos at the weekend. He also stressed the need for a clear economic blueprint in the country, saying “Nigeria must define its economic blueprint.� “Go to India, Malaysia,

Singapore, China, all of them have comprehensive development plan. The quality of leadership is very important. “Instead of states waiting every month for allocation, they should develop their states and compete effectively. “There must also be the political will. Also, if we don’t add value to our solid minerals, it would end up as oil. Agriculture must also be in large scale, using science and technology. “Nigeria has no option other than to strive towards economic diversification. However, for the economy to be diversified, there must be good governance,� he said. According to Ekpo, the Nigerian economy remains under-developed and backward,

despite enormous human and material resources. He pointed out that since Independence in 1960, various policies, programmes and strategies, meant to reverse underdevelopment have not yielded the desired results. “The elites, over time, have captured the states for their own self-interest. Even the experiment of democratic government has been a disaster. “In some, both military and civilian rules have not produced the desired result of making life better for millions of Nigerians as they still lacked the basic necessities of life. “They lack quality education, running water, quality health care, power supply, adequate shelter, etc. Also, unemployment rate has reached unprecedented

high. Overall, the country lacks the necessary infrastructure for growth and development,� he added. The WAIFEM boss, however, pointed out that the irony was that the economy had earned huge revenue and foreign exchange from the export of crude oil over the years. He wondered why revenue from crude oil not had not been utilised to grow the economy like in several other countries. “Countries like Norway, Indonesia, China, used their oil revenues to build their economies. China that buys oil crude oil, has crude oil. But the strategic policy of the country is to buy for reserve. “Norway has also been deploying its oil revenue to develop its infrastructure,

Indonesia same thing. “But it seems like the discovery of oil reversed the fortunes of millions of Nigerians, but enriched few. Nonetheless, crude oil remains the main driver of the economy. “Therefore, the Nigerian economy, from the early seventies to now, is still the oil story. Yet, it is generally known that oil is a wasting asset, it is non-renewable and therefore, revenue from oil could be a windfall and utilised as such. “When the oil sector is doing well, the country’s selected economic indicators would trend upwards and vice versa,� Ekpo said. He added: “There is no doubt that government, policy makers and other stakeholders are aware of the dangers of running

a mono-product economy, that is based on crude oil. “Hence, the call for diversifying the economy. Moreover, with the new technological innovation, oil will no longer be crucial. “Therefore, the need for diversification is more urgent than ever. It is important to note that diversification has been on the table for about 50 years.� The awardees included the Minister of Power, Works and Housing, Mr. Babatunde Fashola; Central Bank of Nigeria; the Nigeria Ports Authority; Joe Ajaero; Fidelity Bank Plc; Tincan Island Ports Customs Command; the Association of Bureau De Change Operators of Nigeria; NIMASA and the Nigeria Breweries.

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‘AMCON Amendment Bill Ready Soon’ Oluchi Chibuzor The Chairman of House of Representatives Committee on Banking and Currency, Hon. Jones Onyereri, has said the House of Representatives of the Federal Republic of Nigeria will in the next few days present the Asset Management Corporation of Nigeria (AMCON) Amendment Bill before the House. The bill is seeking to further empower and embolden AMCON with more powers to go after chronic obligors of the Corporation. Onyereri, made the declara-

tion when he led other members of the committee on a routine oversight function to the Head Office of AMCON in Abuja. He noted that House of Representatives Committee on Banking and Currency owe it a duty to Nigerians as mandated by the constitution of the country to visit some of the critical institutions such as AMCON to review their budget performance within the financial year. After a session following AMCON 2018 budget performance presentation by the Managing Director/Chief Executive Officer

of AMCON, Mr. Ahmed Lawan Kuru, the lawmaker reaffirmed the commitment of the House of Representatives to support AMCON recover the huge outstanding debt in the hands of a few recalcitrant obligors. Providing an insight into how exactly the House of Representatives would aide recovery in the next financial year, Onyereri was quoted in a statement to have said: “As speak to you now, I want to assure you that this committee, which I humbly serve as Chairman would in the next one or two weeks submit the

AMCON Amendment Bill to the House of Representatives for the third reading after which it would be moved to the Senate for final deliberation. “The committee has worked tirelessly to ensure that when the Bill is passed, AMCON will be further empowered to deliver on their mandate.� AMCON he added, remains an interventionist institution of the federal government, which falls under the purview of the House Committee’s oversight function. If AMCON is to deliver on its mandate by recovering the over

N5.4 trillion outstanding debt, the corporation would therefore need the support and association of all other government agencies to succeed. “We have thoroughly reviewed the 2018 budget performance of the corporation vis-Ă -vis what was approved for them. The committee is satisfied with the performance, which would also help the committee make projections and also provide guidance as the case may be against their 2019 budget.â€? Kuru in his remark described the oversight visit by the

committee as a good feedback mechanism, which has over the years afforded AMCON the opportunity to rub minds with the legislature as well as draw from the wisdom of the lawmakers to efficiently and effectively pilot the affairs of AMCON. He however assured the lawmakers that the current management of AMCON under his leadership would continually remain prudent just as it would continue to persevere in the face of adversity posed by the difficult socio-political and economic environment.

NIMASA to Partner Group to Drive Maritime Eromosele Abiodun The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr Dakuku Peterside, over the weekend in Lagos announced that the agency will partner with the Alumni of Maritime Academy of Nigeria Oron (AMANO) to ensure that all stumbling blocks for the growth and development of the maritime sector are removed. Peterside, who stated this while speaking at the second National Convention of AMANO, said the agency has over the years put measures in place to ensure that the maritime sector’s potential are harnessed for the benefit of Nigerians. Peterside, who was represented by Ekong Umo Otong of the safety department of NIMASA, said maritime education was critical to the repositioning of the country and the economy, hence the need to partner with AMANO being a critical stakeholder. According to him, “NIMASA is proud to be associated with AMANO and to name you as one of our top most stakeholders and thus we remain open to any invaluable contributions and business enhancement

suggestions from your highly reputable association knowing that it will also be beneficial to the maritime world and the current drive and focus on Blue economy.â€? In his welcome address, President of AMANO, Austin Umezurike, decried the problems faced by cadets concerning sea time training, stressing the need for comprehensive approach to finding solution to the problem. Umezurike, noted that the need to focus on maritime education and training to fill the present gaps in the industry, even as he called for the right policies to be put in place to ensure development in the shipping sector. The AMANO president pointed out that the alumni on its part was working to ensure quality training for cadets at the Maritime Academy of Nigeria, MAN Oron, through its members L-R: Head, Marketing, Union System Software Service, Mrs. Ngozi Ilondu; Registrar/CEO, Chartered Institute of Bankers of Nigeria (CIBN), Mr. Seye going there to give lectures in their Awojobi; President/Chairman, Dr. Uche Olowu; NationalTreasurer, Prof. Pius Olarenwaju; and Head, Market Surveillance/ Investigations, Nigerian Stock areas of specialisation. He also Exchange, Mr. Abimbola Babalola, during Fintechnigeria social meet 3.0 hosted by CIBN in Lagos‌recently ETOP UKUTT disclosed that AMANO had also helped to upgrade the library of the institution with ICT. He therefore called on all former cadets to help in ensuring the According to him, Umuchine- borrowings from other financial “a drop that is attributable The Umuchinemere Pro-credit loans not repaired as at when MAN, Oron gets to the required Micro Finance Bank Nigeria mere Pro-credit Micro Finance institutions.â€? standard, as well as assist young Limited, Enugu (UPMFB), Bank was a major victim of the Anijielo explained that due,â€? according to the outgoing cadets to get sea time training. has condemned the rising development, as it adversely aggressive loans recovery external auditors of the bank, spate of non-repayment of affected the bank’s performance exercise which the bank’s staff Ralph Anyama and Compnay. Anyama appealed to the members embark on regularly in loans, otherwise referred to in 2017 financial year. He noted that for certain clusters of a team has assumed defaulting loan borrowers of as portfolios at risk (PAR) in circumstances occasioned by a primary role in saving the the bank to “kindly pay back the industry. the loans to enable the bank The bank disclosed this in its the resultant effects of bad life of the bank. He appealed to the indebted to move on.â€? 23rd annual general meeting loans that affected the bank’s However, in view of the tions, as well as the employment held in Enugu recently. performance in the year under customers not to wait until opportunities that are unlocked This is just as it declared five review, the dividend payable legal actions are taken by the central bank’s new policy raising bank to recover their loans the capital base for microfinance with the acquisition of skills and kobo dividend per share to its would have been higher. certification in such applications.â€? shareholders in the financial The bank chief said UPMFB but to spare themselves such banks, the UPMFB chairman Guerreiro said. was putting certain measures embarrassments by repaying told his audience that the year ended 2017. bank has started the process He explained that SAP Skills Chairman of the bank and in check to mitigate the high their loans promptly. The bank recorded a sharp of beefing up its capital to meet for Africa was designed to train prelate of the Catholic Church, incidence of portfolios at risk drop in profit in 2017 due to the deadline. and certify young students with Monsignor Anthony Chukwuma prevalent in the bank sector. He implored the investors the aim of providing public and Anijielo, was quoted in a He said for instance that bad loans. The bank’s net profit after to increase their investments, private sector organisations with statement to have told the Umuchinemere bank’s “use of critical digital skills to drive digital shareholders that bad loans the services of credit bureau taxation at the end of its opera- stressing that “If all the investors transformation and growth in was a major factor militating has enabled the organisation tions in 2017 stood at N20,450, will increase their investments key economic hubs across the against the banking sector in to avoid to a reasonable extent 744, as against the figure of in the bank, we will become continent. According to him, Nigeria. having borrowers with multiple N38,161,709 the previous year, a national bank.â€? “The program is part of SAP’s ongoing commitment to closing the skills gap and runs beyond Africa, in a total of 22 countries across the globe, as SAP’s Young Oluchi Chibuzor “we are deepening our vision of new opportunities presented include: Azuka Okeke, Regional Director, African Resource Centre Professional Program. Globally, with a focus on B2B solutions.â€? by digital transformation. the programme has trained more TechPlus, an annual initiative Meanwhile the conference for Health Supply Chains; Edun added: “This new B2B than 2130 graduates since its of Republicom Group, returns focus informs the choice of a hopes to make CEOs develop Bankole Oloruntoba, Chief Execuinception in 2012.â€? this year with a breakfast event much smaller breakfast event for a long-term and holistic un- tive Officer, Nigeria/World Bank The Lagos State Commissioner scheduled to hold next Thursday a specially curated list of derstanding of technology Climate Innovation Centre and for Science and Technology, Mr. in Lagos. executives, business leaders capabilities as this approach Mohammed Mijindadi, ManagHakeem Fahm, said technology would inform expedient ing Director for Gas & Power According to General Manager, and C-suite professionalsâ€?. remained a key driver of efficiency TechPlus, Eniola Edun, the forum The theme of the of the confer- decision-making and inspire Systems, General Electric. This business leaders are expected to in any successful organisation, is in its fourth year. ence, “Digital: Value to Life,â€? newer business models. saying SAP Africa’s resolve to The headline speaker at this explore some of the major trends Edun said the programme according to organisers, speaks be at the forefront of bridging started as an annual conference to the central challenge facing year’s event is John Obaro, the and effects of disruption and the digital divide in Nigeria was and exhibition, featuring gaming corporate leaders today, which Managing Director/CEO, System digital integration on business commendable. and masterclasses, and this year, is how to best take advantage Specs. Other confirmed speakers model transformation.

CAPACITYBUILDING

MFB Laments Non-repayment of Loans by Customers

Firm Trains 22 Graduates on Digital Skills Emma Okonji SAP Skills for Africa recently hosted its first set of graduates in Nigeria at a ceremony held in Lagos. The event was to celebrate 22 persons that graduated from its three-month intensive digital training and certification programme based on SAP S/4HANA Financial Accounting and SAP Activate Project Management. Speaking at the ceremony, SAP Africa’s Managing Director for West Africa, Pedro Guerreiro, stressed the need for all stakeholders to work together in addressing the country’s digital skills divide. “SAP Africa’s partnership approach prioritises the facilitation of digital transformation to empower local communities with the skills and tools they need to build bright futures in this exponential era. “The terrific response from local graduates point to a growing need and appetite for greater exposure to some of the world’s most pervasive business applica-

Business Leaders to Discuss Digital Integration

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Tecno Mobile Launches New Product Ugo Aliogo Tecno Mobile has launched another innovative smartphone known as the Tecno Pouvoir 2 Pro Gold edition. TECNO Mobile has a business model focused exclusively on satisfying every mobile user. The mobile phone company has remained a power house in the smartphone business in Africa for the past decade with several laurels attesting to their successes. According to the Public Relation and Strategic Partnership Manager, TECNO mobile, Jesse Oguntimehin, 2018 has been one of TECNO’s best years as it witnessed the launch of several record-breaking devices. This included the launch of a totally new smartphone with dramatically improved aesthetics- the TECNO Pouvour 2 pro Gold. “The device which showcases an 18karat gold cover, is unarguably the first of its kind to have graced the market and it is really a sight to behold. “Nonetheless, we can now take it easy with the rumours and speculations about the 18karat gold story as the device was released some days ago and yes, it is gold. “After some days with the new device, two things specifically stood out for - the Design and the Battery capacity. “That being said, join me on this review and let’s discuss this new premium design from

TECNO Mobile,� Oguntimehin was quoted to have said in a statement. According to him, “The device which also flaunts for a 6.0-inch HD+full display smartphone, the new device is very slim to handle which allows users the ability to handle the phone with a single hand. “Asides from its classy look and feel, the Pouvoir 2 Gold edition is a 5000mAH battery powered device that can run for up to four days after a single charge and is encased in a slim frame that acts as an amazing cover for the enormous capacity under the hood. This fits the habitual needs of smartphone users. “The Pouvoir 2 Pro Gold runs on Android 8.1 Oreo OS and also supports 4G LTE connectivity, has 3GB of RAM, 16GB internal storage and so much more. The latest addition to the TECNO family is undeniably a strong contender for the best-looking phone of the year. “The latest addition to the TECNO family is undeniably a strong contender for the bestlooking phone of the year. From a premium ‘18karat’ gold casing to a long-lasting battery life and so much more, the TECNO Pouvoir 2 Pro Gold edition, is an amazing smartphone pick for anyone out in the market scouting for a smartphone that truly combines the essentials of technological innovation, style and class.�

Company Offers Free Digital Meters Ugo Aliogo and Deborah Orji Paktim Consulting Nigeria Limited is offering free smart meters to Distribution Companies (Discos) in the country, in order to meet the needs of electricity consumers in the country. Speaking at a media briefing in Lagos, the Managing Director of Paktim Consulting Nigeria Limited, Larry Adesida, said before the Nigerian Electricity Regulatory Commission (NERC) launched the Meter Asset Provider (MAP) Scheme, the company had taken on the challenges that the various Discos had in purchasing electricity meters on a “cash-and-carry business model.’ He also noted that the company had worked with the Discos offering them vendor financing which meant greater and positive cashflows for the Discos in providing the services that the public required. According to him, “Some of the factors that hinder international assistance, include, but are not limited to, outdated transmission framework and policies; minimal to non-existent citizens’ recourse in the event of energy usage miscalculations; and a lack of understanding on the need for speedy deliverables and provision of services. “Paktim’s enduring mission is to work hand in hand with the Discos in providing electricity meters that will bring to all customers, improved infrastructural framework; instil transparency in energy

purchase and usage; and a cohesive working relationship between the decision makers and Paktim’s knowledgeable management team to provide and manage projects for the overall benefit of the energy sector.� THISDAY learnt that the major problem reported by international agencies was dearth of competent staff at the helm of affairs in the distribution of Nigeria’s energy resources. Adesida added: “It is no secret that Nigeria has a substantial youth labour market, many of these youths are educated and malleable to training. “The company is passionate about training, empowering and employing youth to provide its products and services to the distribution companies. “In order to compete with first world policies and technological innovation, we have to engage young minds in digital thinking and progressive actions. “That is why, at Paktim, we encourage them to bring their ideas and innovations to the table as we seek to push boundaries in the energy sector. The truth is that today’s smart meter technology will be deemed obsolete within a decade. “We need to foster the idea of thinking for the future such that our young men and women create tomorrow’s innovations today.�

Nigeria Leading in Fintech Space, Says Systemspecs Boss Judith Obaze Nigeria has been described as one of the leading countries in the financial technology (Fintech) space in the world. The Executive Director, Systemspecs Limited, Mr. AdeRemi Atanda, stated this recently at the Centre for Financial Journalism (CFJ)-Association of Corporate Affairs of Managers of Banks’ (ACAMB) Business Forum held in Lagos. According to him, many things have happened in the fintech landscape in Nigeria that have not happened elsewhere in the world.

However, he lamented that the success stories in this area has not been adequately captured and celebrated. This, he said, was because “we are not schooled in value narratives.� He advised that we should “understand the paradigm that shape narratives.� This way, we can capture the successes achieved so far in the fintech landscape. According to Atanda, despite the successes achieved so far, even well acknowledged by advanced countries, there are still lots of room for improvement.

Atanda said fintechs are part of the digital age which evolved partly as a result of revolution in mobile telecommunications. He said fintechs which are driven by data, were transforming the ways financial and business transactions are now carried out. He noted that pay-tech is just one aspect of fintech, and virtually the only aspect that “we are still dealing with now as there are many other aspects that are yet to be integrated into the entire architecture of fintechs.� According to him, it is not only the banking sector that

requires the services of fintech providers. He said insurance, pension schemes, medical services, oil and gas and even agriculture require fintech to drive their activities. “There is huge potential yet untapped that can help to move the entire system forward to new stage of development,� he added. “Many things will still shape and re-shape the future we see before us. We should be ready to be part and indeed at the forefront of the global movement in fintech space,� Atanda added.

FELLOWSHIP INVESTITURE

L-R: Executive Director, Technology & Services, Polaris Bank, Innocent Ike; Chairman, Mr. Mohammad Ahmad; GMD/CEO, Mr. Tokunbo Abiru and Executive Director, Abuja/Northern Region, Abdullahi Muhammed, at Abiru’s investiture as honorary fellow of CIBN in Lagos‌recently

$1.1bn Investment Offer by Emir of Kano Excites Akwa Ibom Okon Bassey in Uyo For the Emir of Kano, Mallam Muhammadu Sanusi II, to propose $1.1 billion investment in Akwa Ibom State shows that Governor Udom Emmanuel administration is investor friendly. The Senior Special Assistant to the Governor on Marketing and Brand Management, Mr. Sam Edoho who made the assertion while speaking with newsmen in Uyo, stressed that the investment would further boost industrialisation drive of the state government. The Emir of Kano who doubles as the Chairman, Qua Iboe Power Project had during a visit to Akwa Ibom State, last

week, told Governor Emmanuel that the state was very peaceful, and a safe haven for investors within and outside the country. Sanusi who was a onetime Governor, Central Bank of Nigeria (CBN) had explained that the planned investment of $1.1billion by his company, QIPP, would be in the exploitation of gas in the state and indicated that part of the investment would be the development of a Gas power plant, acquired from Mobil which will add 540 megawatts of electricity to the national grid on completion. Edoho described the project as a mega investment, saying it was a plus and part of the

benefits Akwa Ibom people are enjoying as a result of electing a peaceful and focus person into leadership. Edoho, a brand expert and former Director of Globacom, noted that the governor with his high profile in international business and commerce had put on ground structures that could attract more of such huge investment into the local economy from investors outside the state. “The visit of Emir Sanusi to Akwa Ibom state can be said to be a continuous harvest of gains by Akwa Ibom people for the right decision we made in 2015 to elect a practical economist, an intellectual and a governor whose career profile is above the par as

far as banking, international business and commerce is concerned.� he posited. Having attended some technical sessions of the scheme, Edoho maintained that the project was not political, but is a serious business for the Emir to leave his comfort palace in Kano to Akwa Ibom State to unfold the investment plan. “The Emir’s company is investing in Qua Iboe Power Project (QIPP) to the tune of 1billion US dollars. This is mega investment anywhere in the world and it is happening in Akwa Ibom State under the leadership of Governor Udom Emmanuel. This is a plus to our state.� he stated.

Wapic Records N10.1 Billion Premium Ebere Nwoji Wapic Insurance Plc has announced its unaudited financial results for the period ended 30th September 2018. The results showed that the company’s Gross Written Premium for the period stood at N10.1 billion, representing a growth of 29 per cent, compared the amount recorded same period in 2017. However, its profit before Tax (PBT) declined by 50

per cent to close at N475 million. The company, in its group financial performance for the period said it made an underwriting profit of N1.38 billion, showing a seven per cent growth from the prior period. The company explained that this was as a result of drop in investment and other income, and the growth in net claims expenses for the period. It said Gross Claims paid during the period stood at N2.76 billion, showing a 21 per cent increase, as against

the amount recorded in 2017. Gross claims ratio decreased to 27 per cent as at September 2018, as against the 29 per cent recorded in same period in 2017, Wapic Life Assurance Limited, a subsidiary of the company, recorded eight per cent increase in its Group Written Premium (GWP) for the period, to N1.5 billion from N1.4 billion recorded same period in the 2017. Announcing other performances of the subsidiary, the

Managing Director Wapic Insurance, Yinka Adekoya said: “Gross Claims paid increased by 18 per cent to N836 million in September 2018, compared to N707 million in the corresponding period of 2017. “Growth in claims paid and underwriting expenses further impacted the performance with an underwriting loss position of N51 million. “Investment income reduced by 32 per cent to N389 million, as against N581 million in the third quarter of 2017.�

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On Economic Implications of Fluctuating Oil Revenues in Nigeria Chijioke Nwaozuzu Oil revenue has been and still is the mainstay of the national economy and is likely to remain so for a long time to come, as it currently provides the bulk of government revenue and most of the foreign exchange earnings. At present, crude oil exports account for about 90 percent of foreign exchange earnings and 80 percent of government revenue; thus making the country’s economy heavily reliant on the petroleum sector. This dominant role, coupled with inadequate management of oil revenue during periods of windfall, has pushed other productive sectors like agriculture, the traditional mainstay of the economy, from the early fifties and sixties, to the background; thus exposing the country to volatility in the crude oil market. For a mono-product economy like Nigeria, it is not unprecedented, that fluctuations in the price of crude oil or a decline in oil production will impact the country’s revenue negatively. This scenario was captured in a statement attributed to the former Central Bank Governor, Sanusi Lamido Sanusi, in 2011: “Our major concern is that a major decline in the price of oil or domestic output would lead to a massive depreciation of the currency, a collapse in reserves and a huge growth in deficits and some of the States outside of the oil-producing regions might find themselves in a situation where they are not able to pay workers’ salaries�. Not long after he raised this concern, the price oil dipped, and the economy has been thrown into a state of deficits, with the effects reverberating across other sectors of the economy. Implications of Fluctuating Crude Oil Price on Governance A fluctuation in the price of crude oil in the international market portends negative implications for government revenue. Nigeria relies heavily on crude oil revenue to fund government spending. Oil accounts for about 15% of Nigeria’s GDP but it makes up about 80% of government revenue. Thus, a decline in oil price has adverse impact on government revenue; thereby increasing the requirement for borrowing and debt servicing and attendant impact on the funds available for capital expenditure. Studies have shown that growth in oil exporting countries could shrink by about 0.8-2.5 per cent following a 10 percent decline in the annual average oil price. This would ultimately compound fiscal revenue losses, as Nigeria’s fiscal break-even prices exceed current oil prices. Based on the current crude oil prices, recent benchmarks for national budgets are unsustainable, as the government would have to borrow to finance the gap; and with States struggling to pay workers’ salaries. It is disheartening to note that despite the positive windfall gains arising from the benchmark oil price of $79, $77.5 and $65 in 2013, 2014 and 2015 respectively, the country’s external reserves declined precipitously from $53.6 Billion in 2008 to $30.9 billion as at March 2015. With recent higher crude oil prices, external reserves have bounced back, and were at about $46 bn in August 2018. This flunctuating trend in external reserves reflects the current concern of the CBN to continuously defend the Naira in the face of flux in foreign reserves. Effects of Declining Government Revenue on Business A consequence of this fluctuation is the unsustainability of some of the CBN measures. Some of these measures, for example, tightening fiscal and monetary policies, have adverse consequences for other sectors of the economy. Nigerian’s economy continues to post a gloomy outlook, as the fluctuations in oil prices and government revenue continue to reverberate through the fiscal and monetary policy framework. The attendant consequences of the unfavorable exchange rates for the Naira, increase in monetary policy rate, increasing cash to reserve ratio

Buhari

are amongst the challenges that could undermine business activities; especially with Nigeria’s heavy reliance on imports for both consumer and investment goods. What have we done with our Petrodollars A reduction in inefficiencies within Nigeria’s prized oil industry will play a pivotal role in helping Nigeria realize its potentials. Despite producing an average of 2.38 million barrels per day in 2011 and holding the title of Africa’s largest crude oil exporter, Nigeria is nowhere near its productive potential. More recently, crude oil production has been declining. Production stood at roughly 1.5 million barrels per day as at June 2018. Ironically, Nigeria has to import refined fuel, due to its unproductive and inefficient oil refineries that operate sometimes at below 20% of name- plate capacity. Studies have shown that Nigeria could produce approximately four million barrels per day within 10 years. To do so however, requires a more efficient use of resources and thoughtful economic management. Below are some of the quotes from some of Nigeria’s public officers, which reflect the mismanagement of oil revenues. “We have suffered a great deal in this country, from our inability or unwillingness to manage our oil resources properly. When oil prices are high, like now, a great deal of optimism sets in and we tend to spend all that we earn to meet our admittedly tremendous needs‌..â€? Dr Ngozi Okonjo Iweala, 2004 Budget Speech “The challenges facing the petroleum industry today are enormous. Some of them are widespread uncertainty about the state of the on-going reforms in the industry with the non-passage of the Petroleum Industry Bill (PIB); slowdown of investments in virtually all aspects of the industry ‌‌.; low growth of our oil and gas reserves; confusion surrounding the renewal of leases held by some oil companiesâ€?. Senator Emmanuel Paulker, 2012; Senate Committee Chairman on Petroleum Resources (Upstream) Call for Economic DiversiďŹ cation Apart from the impact of fluctuating oil prices and declining oil production, the emergence of shale oil and gas and electric cars represent a clear and present ‘lion threat’ to the revenues of OPEC (Organization of Petroleum Exporting Countries) Member States which includes Nigeria, and an alert for economic diversification for all Members through the auspices of their petroleum revenues.

The four critical areas for diversification should be in infrastructure development, downstream petroleum sector, power sector, and in research & development. Regrettably, Nigeria’s foreign direct investment (FDI) inflows have been almost exclusively in the natural resources sector, specifically in the oil and natural gas industries. Such a mono-sectoral concentration in FDI limits technology transfer and inhibits job creation. However, through a conscious effort geared towards diversification of the economy, Nigeria can also diversify the distribution of the FDI it receives. Nigeria should attract FDI in other sectors, including manufacturing, agriculture, tourism, consumer products, and construction, as these sectors could generate additional jobs and create a more balanced economic growth. Power Sector as a Panacea for Industrial and Economic Growth “Affordable Energy in ample quantities is the lifeblood of industrial societies and a prerequisite for the economic development of othersâ€?. Jon Holdren, 2001 There is no doubt that Nigeria is blessed with abundant energy resources, but the challenge has always been in regard to how to utilize the revenues to diversify the economic base, particularly the power sector. Consequently, the country is plagued with the inability to generate adequate power supply for the teeming populace and the business sector. The consequence of generating only 3500MW of power is the incessant power outage (black-outs & brown-outs), which continues to threaten small and medium- scale enterprises, as well as increasing the cost of doing business in Nigeria. It is imperative for the government to diversify the energy mix, so as to guarantee security of energy supply. The following quote from President Obama captures the ubiquitous importance of developing a robust power sector. â€œâ€Ś.. And we believe that nations must have the power (electricity) to connect their people to the 21st Century. Access to electricity is fundamental to opportunity in this age‌. It is the lifeline for families to meet their basic needs. And it is the connection that is needed to plug Africa into the grid of the global economyâ€?. President Barrack Obama, 2013 The Dilemma Professor Paul Wihbey’s quote below encapsulates the Nigerian dilemma in regard to management of the petroleum sector and accruing petrodollars revenue.

“Oil theft (the systemic looting of oilrelated funds and placement in overseas assets) and bunkering (pipeline vandalism and organized thievery), both represent potential amount of substantial funds that have been lost to the government, but can be repatriated to a notable degree, through various processes. With the political, diplomatic, and technical assistance of the United States, FG stands to regain upwards of $150 billion in looted monies, a figure that President Buhari referred to during his July 2015 visit to Washington DCâ€?. Paul Micheal Wihbey. President, GWEST CONSULTING, Washington DC The upsurge of oil theft in Nigeria has assumed alarming dimensions. It was estimated that Nigeria was losing between 300,000 to 400,000 barrels of crude oil per day to oil theft, pipeline vandalism and related crimes by 2015. The volume seems to have reduced since President Buhari came to power. The incessant vandalism of pipelines and other oil infrastructure across the country as well as trade in stolen oil by criminal cartels with international connections have continued unabated despite Federal Government efforts. Thus, oil theft and illegal bunkering activities in the Niger Delta pose a challenge that threatens the very foundation of the oil industry, and by extension, the Nigerian economy. It was against this backdrop that the Nigerian President on his Togo visit in 2015 affirmed that: “It is not easy for my administration to fight terrorism, oil theft and corruption at the same time. In spite of the difficulties being faced in fighting these scourges, my administration would not relent in eliminating these vices from the nation’s body polityâ€?. President Muhammadu Buhari, Sept 11, 2015. It is ridiculous to note that Nigeria is considered one of the top 40 most corrupt nations in the world, particularly in its dealings with the oil industry. The most recent fuel subsidy scandal involving Nigerian oil companies and Nigerian officials, which lasted three years and cost the country $6.8 billion, is representative of the larger, omnipresent problems of corruption, weak leadership, and economic mismanagement. However, through strengthening its democratic institutions, Nigeria can tackle corruption, maintain political stability, and make good governance a priority. What needs to be done? In the quest for plausible strategies that will prevent the government and the economy from plunging into backwardness and recession, at least in the short to medium term, the government should make conscious effort to: r4FDVSF TJHOJĂ DBOU OFX NBSLFU TIBSF GPS crude oil exports in China and India. USA is now a net exporter of crude. This will represent a continuous source of revenue for the Nigerian treasury, until the switch to electric cars comes fully into the equation. r%JWFSTJGZ UIF QFUSP EPMMBS FDPOPNZ JOUP other sectors (power, agriculture, mining, and manufacturing sectors, etc) without further delay. r*ODSFBTF JO DPVOUSZ DSVEF SFĂ OJOH capacity for domestic self-sufficiency and export of petroleum products. r1MVH DSVEF PJM UIFGU BOE JMMFHBM CVOLFSJOH activities. r1MVH BMM MPPQIPMFT JO HPWFSONFOU revenue looting. r1MVH BMM MPPQIPMFT JO UBY SFWFOVF SFNJUtance. r4BWF BEFRVBUFMZ GPS GVUVSF HFOFSBUJPOT by linking every barrel to socio-economic development through sound policies and hard-wired legislation. For drastic economic development in the face of fluctuating oil revenue, we must face the fact that, there are no easy options; there are only hard choices to be made. Prof. Nwaozuzu, a former British Chevening Scholar, Former PTDF PhD Scholar, and Deputy-Director at Emerald Energy Institute (for Energy & Petroleum Economics, Policy, & Strategic Studies, wrote in from the University of Port Harcourt

THISDAY t MONDAY NOVEMBER 12, 2018

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BUSINESS/MONEYGUIDE

Elumelu Seeks Policies to Attract Private Sector Investments Nosa Alekhuogie The Chairman of Heirs Holdings and Founder, Tony Elumelu Foundation, Mr. Tony Elumelu, has called on African leaders to develop policies to attract private sector investment. He made this call while speaking to private sector captains, global investment leaders and key players in Africa’s development sector at a plenary discussion at the Africa Investment Forum titled: “Championing Investments in Africa – Conversations with the private sector,� in South Africa, recently. The event organised by

the African Development Bank featured robust and interactive conversations on the investment landscape of Africa with a view to articulate fresh strategies that strengthens the economic framework of the continent, as well as map out a bold blue print to attract and retain private global capital. At the plenary session with Elumelu were the Prime Minister of Rwanda, Edouard Ngirente; the Prime Minister of Cameroon, Philemon Yang; President Sahle-Work Zewde of Ethiopia and President Macky Sall of Senegal. A statement explained that the conversation came on the heels of the recently held

Tony Elumelu Foundation Entrepreneurship Forum – the largest gathering of African entrepreneurs in which Elumelu, in an interactive session with President Nana Akufo-Addo of Ghana and President Uhuru Kenyatta of Kenya, had shared his broad business insight and tackled the peculiar challenges young Africans face in doing business on the continent. Speaking on the importance of creating an enabling environment to attract foreign investments, Elumelu said: “Beyond signing deals, we need to make sure our deals work. Our leaders need to go back and reform our policies and economic framework.�

Ecobank Harps on Savings Culture Nume Ekeghe Ecobank Nigeria has called on Nigerian students to develop a savings culture. Ecobank Managing Director, Patrick Akinwuntan, made this proposition during an interactive session with students at the Edgerly Memorial Girls Secondary School, Calabar as part of this year’s World Savings Day recently. The bank chief was quoted in a statement to have pointed out that saving is always profitable especially when adopted early in life. According to him, saving money with banks creates

financial independence; ability to quickly attend to unforeseen emergencies and also enhances stress-free life. Akinwuntan, who was represented by the Regional Head, South- South/ South-east, Mr Godwin Eton reiterated that keeping money in banks reduces the risk of spending, theft and enhances chances to earn interest and grow income. He urged the students to open an account with any bank and save at least 10 per cent of their pocket money to meet specific project or goal. He also advised parents and guardians to give their children

and wards the needed support in this regard. Akinwuntan said: “I urge you to be committed to savings no matter how little it is. You can even come together as students and form savings club. “Your money will grow as it will earn interest and you will be able to save to meet future needs. Savings helps you become financially responsible and stable; the earlier you start saving, the easier it will be for the future.� Akinwuntan, in his exposition listed various channels of savings such as bond, fixed deposit, mutual funds, money market funds and stocks, among others.

Cellulant Makes KPMG’s 2018 Fintech100 Cellulant, one of the leading digital payment provider has been named among the Top 50 emerging Fintech companies in the world in this year’s KPMG FinTech100 report. Cellulant was listed among the only three African companies representing Africa from Kenya, Nigeria and South Africa to be included in the list of leading global Fintech innovators. Speaking on this feat, the Co-CEO, Cellulant, Bolaji Akinboro, was quoted in a statement to have said, “Being listed as one of the only three African new and exciting companies that is disrupting the financial services industry globally is a vindication of our vision to become the leading financial services

and payments brand in Africa. “Our commitment is to continue scaling a payments infrastructure that can transform two thirds of Africans who do not have access to a bank account. We believe that building a connected payments infrastructure is the foundation of solving real challenges and accelerating Africa’s growth and development.� The 2018 KPMG Fintech100 report highlights innovative companies creating products and services at the nexus of technology and financial services. Cellulant was listed among this year’s list of ‘Emerging 50’ firms – exciting new companies that are at the forefront of innovative technologies and practices and are often pursu-

ing new business models. The annual report now in its fifth edition has featured companies from 36 countries divided into two categories; The ‘Top 50’ - established Fintech firms around the globe, ranked based on innovation, capital raising activity, size and country. And the ‘Emerging 50’ firms. Also, Co-founder of Cellulant, Ken Njoroge said that Cellulant is connecting a continent. ‘‘In most of sub-Saharan Africa, nearly 90 per cent of all payments and transactions remain cash based yet the rate of mobile penetration in Africa is currently at 43 per cent- we are innovating around digital payments to change this status quo.

Elumelu

MARKET INDICATORS MONEY AND CREDIT STATISTICS Broad Money (M2)

24,303,049.86

-- Narrow Money (M1)

10,912,604.10

---- Currency Outside Banks

1,668,378.21

---- Demand Deposits

9,244,225.90

-- Quasi Money

13,390,445.76

Net Foreign Assets (NFA)

15,619,134.18

Net Domestic Assets(NDA)

8,683,915.68

-- Net Domestic Credit (NDC)

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

Phillips Consulting Unveils DigitalTraining Schedule

Treasury Bill Rate

11.84

Sunday Ehigiator

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

Phillips Consulting (PCL) has announced its 2019 training calendar for professionals and companies to meet their expected goals and outcomes. The announcement was made recently in Lagos, by Senior Partner, People Transformation, Mr. Paul Ayim; Head of Digital Learning, Mrs. Modupe ThomasOwoseni and Head of Classroom Learning, Nwaji Jibunoh. The team revealed that it was crucial to empower people to perform at the very highest level and explained that PCL’s carefully designed and executed programs are provided through methods designed for optimal impact on participants’ behaviour. They also revealed that an ever-changing operating landscape meant the need to continuously evolve to ensure

the provision of world-class learning interventions from creation through to delivery, in alliance with global thoughtleader partners around the world. Speaking on the offerings, Senior Partner, Mr. Paul Ayim said “Over the years, several blue chip Organisations have trusted the quality of our classroom and digital learning interventions. “This confidence has brought a paradigm shift in their mindset from seeing training as a cost to a significant investment in their most critical of all assets, their people. “Our digital learning interventions further enhance their ability to embed learning into their employees flow of work. Employing blended learning approaches has led to impressive results as knowledge gained is immediately applicable in the work people do and reduces the

significance of scrap learning, which occurs when people do not use what they learn. Our aim is simple: to help your people succeed. We will go to any length to ensure that this happens.�

C ORRIG E N DUM In our publication on Thursday, October 25, 2018, with the headline: ‘Improving Nigeria’s Low Human Capital Index Ranking,� we erroneously addressed Mr. Henry Adigun, as the Team Leader, Department for International Development (DFID), Growth and Employment in States Programme. Adigun is a development consultant and does not work with the DFID. The error is deeply regretted.

(MILLION NAIRA)

MARCH 2018

Ëž Ă™Ă˜Ă?ĂžĂ‹ĂœĂŁ ÙÖÓĂ?ĂŁ Ă‹ĂžĂ? Ě‹ ͯ͹Ϲ

OPEC DAILY BASKET PRICE AS AT THURSDAY NOVEMBER 8, 2018

The price of OPEC basket of ďŹ fteen crudes stood at $70.68 a barrel on Thursday, compared with $70.63 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), ZaďŹ ro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela) SOURCE: OPEC headquarters, Vienna

35

M O N DAY ˾ NOVEMBER 12, 2018

MARKET NEWS

CHI Plc Increases Nine Months Revenue to N5.4billion Goddy Egene Consolidated Hallmark Insurance Plc (CHI Plc) has recorded a revenue of N5.4 billion and a profit of tax (PAT) of N422 million for the nine months ended 30 September 2018. The revenue growth represented an increase of 19.7 per cent from N4.5 billion recorded for the corresponding period of 2017. A further breakdown of

the results showed that its investment income grew from N611 million to N746.5 million in 2018 which represented 22 per cent increase. Total assets of the company rose by 11.56 per cent from N9.4 billion in 2017 to N10.5 billion. A profit before tax of N422 million was recorded during the period under review when compared with the N360 million, indicating 17.2 per cent increase. Also, there was 13.3 per cent

P R I C E S MAIN BOARD

F O R

DEALS

growth in the net underwriting profit from N836.9 million in 2017 to N948.3 million. Although it’s claims expenses rose significantly by 96 per cent from N2.066 billion in 2017 to N4.057 billion, this was cushioned by the robust reinsurance arrangement in place. The claims expenses percentage increase reaffirms the company’s commitment to fulfilling its obligations to

S E C U R I T I E S

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

its customers through prompt claims settlement. Commenting on the financial performance, Managing Director/CEO, CHI Plc, Mr. Eddie Efekoha, stated that the result clearly showed the company’s relentless efforts to meet and exceed customers’ expectations and also deliver good returns to its shareholders. “We are excited to report a stronger third quarter financial result. Our strong business

T R A D E D MAIN BOARD

A S

performance made possible through capacity expansion and digital channels optimisation drove revenue growth in this quarter and we remain resilient to do much more for our shareholders,” he said. CHI Plc has been consistent in compliance with the insurance industry and capital market regulations, with prompt filing of financials returns, remittance of taxes, and adherence to strong corporate governance

O F

practices. The company has also maintained a track record of regular dividend payments. Recently, the company unveiled its new transaction enabled website – www.chiplc.com and introduced additional online payment channels, including GTBank portal, Quickteller and Paydirect. All of these are to improve customers’ experience at the point of renewal.

0 9 / 1 1 / 2 0 1 8 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

˾ MONDAY, NOVEMBER 12, 2018

36

DŽŶĚĂLJ͕ EŽǀĞŵďĞƌ ϭϮ͕ ϮϬϭϴ

THISDAY AFRINVEST 40 INDEX

ŽŵĞƐƟĐ ƋƵŝƟĞƐ DĂƌŬĞƚ͗ ƵLJ /ŶƚĞƌĞƐƚ ŝŶ ĞůůǁĞƚŚĞƌƐ hƉƚƵƌŶƐ DĂƌŬĞƚ WĞƌĨŽƌŵĂŶĐĞ

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

dŚĞ ĚŽŵĞƐƟĐ ĞƋƵŝƟĞƐ ŵĂƌŬĞƚ ƉƌŝŶƚĞĚ Ă ďƵůůŝƐŚ ƉĞƌĨŽƌŵĂŶĐĞ ƚŚŝƐ ǁĞĞŬ ĂƐ ŝŶǀĞƐƚŽƌƐ ƚŽŽŬ ƉŽƐŝƟŽŶƐ ŝŶ ŵĂƌŬĞƚ ďĞůůǁĞƚŚĞƌƐ –

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

Current Price

Ticker

E ^d> , ^ W> d ĂŶĚ E/' Z/ E Z t Z/ ^ - ŚĞŶĐĞ ƉƵůůŝŶŐ

ROA

P/E

P/BV

Divinden Earnings d Yield Yield

ƚŚĞ ůů-^ŚĂƌĞ /ŶĚĞdž ; ^/Ϳ ƵƉ ďLJ Ϭ͘Ϯй t-o-t ƚŽ ϯϮ͕ϮϬϬ͘Ϯϭ

1,341.52

-0.16%

-13.0%

34.2%

19.6%

7.3%

6.0x

0.7x

7.1%

1

Guaranty Trust Bank PLC

37.15

-0.9%

22.5%

-8.8%

-8.4%

34.1%

5.6%

5.5x

2.1x

7.3%

18.1%

ƉŽŝŶƚƐ͘ ŽŶƐĞƋƵĞŶƚůLJ͕ ƚŚĞ zd ůŽƐƐ ŵŽĚĞƌĂƚĞĚ ƚŽ -ϭϱ͘ϴй͕

2

Zenith Bank PLC

24.40

0.4%

14.3%

-4.8%

-5.9%

23.7%

3.4%

4.2x

1.0x

11.3%

23.9%

3

Nigerian Brew eries PLC

82.00

ǁŚŝůĞ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ĂĚĚĞĚ EϮϳ͘ϱďŶ ƚŽ ƌĞĂĐŚ Eϭϭ͘ϳƚŶ͘

0.5%

6.3%

-39.2%

-39.3%

13.8%

6.4%

27.5x

3.9x

4.5%

3.6%

4

Nestle Nigeria PLC

1,460.00

0.7%

8.7%

-6.2%

-6.2%

85.8%

26.3%

26.4x

20.6x

3.3%

3.8%

&ƵƌƚŚĞƌŵŽƌĞ͕ ĂĐƟǀŝƚLJ ůĞǀĞů ĚĞĐůŝŶĞĚ ĂƐ ƚŚĞ ĂǀĞƌĂŐĞ ǀŽůƵŵĞ ĂŶĚ ǀĂůƵĞ ƚƌĂĚĞĚ ĨĞůů ϭϰ͘ϴй ĂŶĚ ϭϬ͘ϲй ƌĞƐƉĞĐƟǀĞůLJ ƚŽ Ϯϭϱ͘ϴŵ ƵŶŝƚƐ ĂŶĚ Eϯ͘ϲďŶ͘ dŚĞ ƚŽƉ ƚƌĂĚĞĚ ƐƚŽĐŬƐ ďLJ ǀŽůƵŵĞ ƚŚŝƐ ǁĞĞŬ ǁĞƌĞ E/d, ;ϯϬϳ͘ϱŵ ƵŶŝƚƐͿ͕ ^^ ;ϭϭϬ͘ϴŵ ƵŶŝƚƐͿ ĂŶĚ & E, ;ϵϲ͘Ϯŵ ƵŶŝƚƐͿ͕ ǁŚŝůĞ ƚŚĞ ƚŽƉ ƚƌĂĚĞĚ ďLJ ǀĂůƵĞ ǁĞƌĞ E/d, ;Eϳ͘ϯďŶͿ͕ 'h Z Edz ;EϮ͘ϰďŶͿ ĂŶĚ E ^d> ;EϮ͘ϭďŶͿ͘ /Ŷ ƚĞƌŵƐ ŽĨ ƚŚĞ ĚŝƌĞĐƟŽŶ ŽĨ ƚƌĂĚŝŶŐ ĚƵƌŝŶŐ ƚŚĞ ǁĞĞŬ͕ ƚŚĞ

THISDAY AFRINVEST 40

ROE

5

Dangote Cement PLC

6

FBN Holdings Plc

12.3%

205.00

0.0%

6.4%

-10.9%

-10.9%

20.1%

9.8%

21.4x

4.5x

5.1%

4.7%

7.45

-1.3%

5.4%

-15.3%

-15.2%

6.6%

0.8%

5.3x

0.4x

3.3%

18.8%

7

Access Bank PLC

7.70

-1.9%

3.8%

-26.3%

-27.4%

14.1%

1.7%

3.2x

0.5x

8.2%

31.2%

8

United Bank for Africa PLC

7.95

1.3%

3.9%

-22.8%

-23.6%

15.4%

1.8%

3.6x

0.6x

10.7%

27.8%

9

Ecobank Transnational Inc

10

SEPLAT Petroleum Development C

15.55

0.3%

3.5%

-8.5%

-4.4%

12.1%

1.0%

4.9x

0.6x

668.50

4.8%

3.8%

9.4%

6.8%

25.9%

15.3%

2.9x

0.7x

2.8%

34.2% 14.3%

20.5%

11

Stanbic IBTC Holdings PLC

47.10

0.2%

3.8%

13.5%

15.2%

35.7%

4.6%

7.0x

2.2x

2.1%

12

Unilever Nigeria PLC

39.25

-0.6%

2.8%

-4.3%

-2.4%

24.7%

11.5%

18.3x

2.7x

1.3%

5.5%

13

Guinness Nigeria PLC

74.00

0.0%

2.1%

-21.3%

-21.3%

8.8%

5.0%

19.9x

1.8x

2.5%

5.0%

14

Lafarge Africa PLC

15.00

-4.5%

0.6%

-66.6%

-66.6%

-53.7%

-7.9%

1.0x

10.0%

-43.2%

15

Fidelity Bank PLC

1.99

-0.5%

1.2%

-19.1%

-22.9%

11.3%

1.5%

2.6x

0.3x

5.5%

16

Oando PLC

4.65

-7.0%

1.2%

-22.4%

-22.4%

10.9%

1.7%

3.9x

0.3x

38.5% 25.8%

17

Dangote Sugar Refinery PLC

13.00

0.0%

0.9%

-35.0%

-36.1%

41.5%

18.1%

5.2x

1.6x

13.5%

19.3%

ŵĂƌŬĞƚ ƚƌĞŶĚ ǁĂƐ ƵŶĚƵůĂƟŶŐ͕ ŽƉĞŶŝŶŐ ŽŶ Ă ŶĞŐĂƟǀĞ ŶŽƚĞ ŽŶ

18

Okomu Oil Palm PLC

79.80

0.0%

1.5%

17.9%

17.9%

39.3%

29.7%

7.6x

2.6x

3.8%

13.1%

DŽŶĚĂLJ͕ ĂŌĞƌ ĚĞĐůŝŶŝŶŐ ďLJ ϮϰďƉƐ ŝŶ ƚŚĞ ƚƌĂĚŝŶŐ ĚĂLJ ĨŽůůŽǁŝŶŐ

19

International Brew eries PLC

33.55

0.0%

0.6%

-38.4%

-39.0%

24.6%

7.4%

35.1x

8.0x

20

Flour Mills of Nigeria PLC

15.40

1.0%

0.4%

-46.9%

-46.9%

7.6%

2.3%

5.3x

0.4x

6.4%

18.9% 17.1%

ƐĞůů-ŽīƐ ŝŶ E/' Z/ E

Z t Z/ ^,

hE/> s Z͕ ĂŶĚ

E' D͘ ,ŽǁĞǀĞƌ͕ ďƵLJ ŝŶƚĞƌĞƐƚ ŽŶ dƵĞƐĚĂLJ ďƵŽLJĞĚ ƚŚĞƐĞ ƐƚŽĐŬƐ ĂŶĚ ƚŚĞ ŽǀĞƌĂůů ŵĂƌŬĞƚ ďLJ ϯϯďƉƐ͘ dŚĞƌĞĂŌĞƌ͕ ƚŚĞ

ďĞŶĐŚŵĂƌŬ ŝŶĚĞdž ƐŚĞĚ ϭϰďƉƐ ŽŶ tĞĚŶĞƐĚĂLJ ĂƐ Ă ƌĞƐƵůƚ ŽĨ ƉƌŽĮƚ-ƚĂŬŝŶŐ ŽŶ t W K ĂŶĚ 'h Z Edz͕ ǁŚŝůĞ ďĂƌŐĂŝŶ ŚƵŶƟŶŐ ŽŶ E ^d> ĂŶĚ 'h Z Edz ůŝŌĞĚ ƚŚĞ ^/ ŽŶ dŚƵƌƐĚĂLJ ďLJ ϯϳďƉƐ͘ KŶ &ƌŝĚĂLJ͕ ŚŽǁĞǀĞƌ͕ ƚŚĞ ŵĂƌŬĞƚ ƌĞĐŽƌĚĞĚ Ă ŵĂƌŐŝŶĂů ƌŝƐĞ ŝŶ ƚŚĞ ŽǀĞƌĂůů ŝŶĚĞdž ďLJ Ϭ͘Ϯй ĚĞƐƉŝƚĞ ƉƌĞƐƐƵƌĞ ĨƌŽŵ ƐĞůů-ŽīƐ ŽŶ h E, 'h Z Edz ĂŶĚ K E K͘ WĞƌĨŽƌŵĂŶĐĞƐ ĂĐƌŽƐƐ ƐĞĐƚŽƌƐ ƵŶĚĞƌ ŽƵƌ ĐŽǀĞƌĂŐĞ ǁĞƌĞ ďĞĂƌŝƐŚ͕ ĂƐ ϯ ŽĨ ϱ ŝŶĚŝĐĞƐ ĐůŽƐĞĚ ŶĞŐĂƟǀĞ t-o-t͘ dŚĞ

2.8%

21

Transnational Corp of Nigeria

1.23

0.8%

0.6%

-15.8%

-16.9%

13.6%

3.0%

5.9x

0.8x

1.6%

22

UAC of Nigeria PLC

10.00

2.6%

0.4%

-40.8%

-40.8%

1.4%

0.6%

78.4x

0.4x

6.5%

23

Diamond Bank PLC

1.28

4.1%

0.5%

-14.7%

-18.5%

-5.8%

-0.7%

-13.0%

-13.0%

34.6%

7.5%

7.0x

2.2x

8.5%

3.2%

6.7%

1.0%

2.7x

0.2x

6.1%

37.3%

-22.4%

38.0%

16.8%

5.0x

1.7x

5.3%

19.8%

29.7%

3.0%

24

Total Nigeria PLC

25

FCMB Group Plc

26

11 PLC

27

Forte Oil PLC

28

PZ Cussons Nigeria PLC

200.00

0.0%

0.5%

1.63

-3.6%

0.6%

151.00

0.0%

0.4%

-22.4%

21.95

0.0%

0.3%

-49.5%

-47.7%

9.00

-10.0%

0.2%

-56.3%

-57.4%

0.1x

1.3% -54.8%

1.7x

14.3%

-9.5%

0.9x

1.7%

29

Cadbury Nigeria PLC

9.35

-5.6%

0.3%

-40.3%

-40.1%

4.7%

1.9%

32.6x

1.5x

1.7%

3.1%

30

Presco PLC

66.25

0.0%

0.4%

-3.3%

-3.3%

37.0%

24.8%

2.6x

0.8x

3.0%

38.2%

31

NASCON Allied Industries PLC

18.00

0.0%

0.4%

-2.7%

-6.3%

47.0%

17.5%

9.4x

4.2x

8.3%

10.7%

32

UPDC Real Estate Investment Tr

8.10

0.0%

0.3%

-19.0%

-19.0%

0.7x

6.8%

33

Union Bank of Nigeria PLC

4.85

-8.5%

0.2%

-37.8%

-35.4%

5.3%

1.0%

8.8x

0.5x

34

Julius Berger Nigeria PLC

23.70

0.0%

0.3%

-15.4%

-15.4%

17.3%

1.8%

6.6x

1.0x

4.2x

35

Sterling Bank PLC

1.60

0.0%

0.4%

48.1%

41.6%

10.6%

1.1%

36

Dangote Flour Mills Plc

5.85

-5.6%

0.1%

-51.9%

-51.9%

0.0%

0.0%

11.4% 4.2%

15.2% 23.8%

0.4x

1.2%

0.7x

3.4%

37

GlaxoSmithKline Consumer Niger

11.00

-0.9%

0.1%

-49.1%

-49.1%

12.1%

7.2%

8.8x

1.5x

68.2%

/ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ƐĞĐƚŽƌ ůĞĚ ĚĞĐůŝŶĞƌƐ ĂŌĞƌ ůŽƐŝŶŐ ϯ͘ϴй t-o-

38

Chemical and Allied Products P

26.60

0.0%

0.2%

-21.8%

-25.5%

66.2%

30.2%

12.4x

8.3x

7.7%

8.0%

t͕ ĨŽůůŽǁŝŶŐ ƉƌŽĮƚ ƚĂŬŝŶŐ ŽŶ t W K ;-ϭϰ͘ϯйͿ ĂŶĚ EE ;-

39

Beta Glass PLC

62.10

0.0%

0.2%

21.0%

21.0%

17.7%

11.5%

7.5x

1.2x

1.7%

13.3%

40

Transcorp Hotels Plc

6.10

0.0%

0.1%

-15.4%

-15.4%

6.9%

3.8%

11.9x

0.8x

2.0%

8.4%

11.4%

ϭϭ͘ϲйͿ͘ ^ŝŵŝůĂƌůLJ͕ ƚŚĞ /ŶƐƵƌĂŶĐĞ ĂŶĚ ĂŶŬŝŶŐ ŝŶĚŝĐĞƐ ƐŚĞĚ T o p 10 G a in e r s

ϭ͘ϵй ĂŶĚ Ϭ͘ϱй ƌĞƐƉĞĐƟǀĞůLJ t-o-t ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ƐĞůů-ŽīƐ ŝŶ KEd/E^hZ ;-ϰ͘ϳйͿ͕ D E &/d ;-Ϯϯ͘ϯйͿ͕ 'h Z Edz ;-

T ic k er

P rice

T o p 10 T r a d e s b y V o l u m e

P rice C hg %

Vo lum e

P ric e C hg %

A C C ESS

81.3

-0.6%

8.2%

FB NH

31.7

2.0%

0.35

6.1%

FCM B

10.6

1.8%

N EM

2.60

4.8%

R EGA LIN S

8.7

-4.8%

J A IZ B A N K

0.48

4.3%

A F R IP R UD

8.5

-1.6%

D A N GF LOUR

6.20

3.3%

J A P A ULOIL

7.3

0.0%

26.60

3.3%

T R A N SC OR P

5.6

0.0%

2.00

3.1%

GUA R A N T Y

4.4

1.2%

3.1%

D IA M ON D B N K

2.9

1.7%

UN ION D A C

2.8

-7.4%

UN IT YB N K

0.71

9.2%

UB N

5.30

ĂŶĚ Kŝů Θ 'ĂƐ ŝŶĚŝĐĞƐ ƌŽƐĞ ďLJ ϭ͘ϲй ĂŶĚ ϭ͘ϯй ƌĞƐƉĞĐƟǀĞůLJ t-o

F IR ST A LUM

-t͕ ĨŽůůŽǁŝŶŐ ŝŶǀĞƐƚŽƌƐ͛ ŝŶƚĞƌĞƐƚ ŝŶ E ^d> ;нϳ͘ϴϰͿ͕

Ϭ͘ϵйͿ ĂŶĚ d/ ;-Ϯ͘ϴйͿ͘ KŶ ƚŚĞ ŇŝƉƐŝĚĞ͕ ƚŚĞ ŽŶƐƵŵĞƌ 'ŽŽĚƐ

'h/EE ^^ ;нϭ͘ϰйͿ͕ E'&>KhZ ;нϬ͘ϵйͿ ĂŶĚ ^ W> d ;нϳ͘ϬйͿ͘ /ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ ĂƐ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ ;ĂĚǀĂŶĐĞƌƐͬĚĞĐůŝŶĞƌƐ ƌĂƟŽͿ ƐƚƌĞŶŐƚŚĞŶĞĚ ƚŽ Ϭ͘ϳdž ĨƌŽŵ Ϭ͘ϯdž ŝŶ

CA P F ID ELIT YB K NNFM

5.00

P R ESC O

ƚŚĞ ƉƌĞǀŝŽƵƐ ǁĞĞŬ͕ ĂƐ Ϯϱ ƐƚŽĐŬƐ ĂĚǀĂŶĐĞĚ ĂŐĂŝŶƐƚ ϯϴ ƐƚŽĐŬƐ

66.25

2.7%

T ic k er

T o p 10 T r a d e s b y V a l u e

T o p 10 L o s e r s

ƚŚĂƚ ĚĞĐůŝŶĞĚ͘ ĞƐƚ ƉĞƌĨŽƌŵŝŶŐ ƐƚŽĐŬƐ ƚŚŝƐ ǁĞĞŬ ĂƌĞ h E

T ic k er

P rice

P rice C hg %

T ic k er

Value

;нϭϭ͘ϭйͿ͕ EW&D Z& < ;нϭϭ͘ϭйͿ ĂŶĚ WZ ^ K ;нϭϬ͘ϳйͿ ǁŚŝůĞ

CCNN

18.25

-9.9%

N EST LE

1242.5

1.4%

1.52

-9.5%

A C C ESS

649.9

-0.6%

15.25

-9.2%

FB NH

235.0

2.0%

D E &/d ;-Ϯϯ͘ϯйͿ͕ &>KhZD/>> ;-ϭϲ͘ϴйͿ ĂŶĚ t W K ;-

P H A R M D EKO F LOUR M ILL

ϭϰ͘ϯйͿ ůĞĚ ĚĞĐůŝŶĞƌƐ͘ ĞƐƉŝƚĞ ƚŚĞ ŵŝůĚ ƵƉƟĐŬ ŝŶ ƉĞƌĨŽƌŵĂŶĐĞ

P ric e C hg %

M B EN EF IT

0.23

-8.0%

GUA R A N T Y

166.3

1.2%

ƚŚŝƐ ǁĞĞŬ͕ ĞǀŝĚĞŶĐĞĚ ďLJ ŝŵƉƌŽǀĞŵĞŶƚ ŝŶ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ͕ ǁĞ

UN ION D A C

0.25

-7.4%

Z EN IT H B A N K

52.2

1.3%

ďĞůŝĞǀĞ ŽǀĞƌĂůů ŵĂƌŬĞƚ ƐĞŶƟŵĞŶƚ ƌĞŵĂŝŶƐ ǁĞĂŬ ĚƵĞ ƚŽ Ă

M OB IL

151.00

-7.2%

UN ILEVER

43.5

0.0%

A F R IP R UD

30.0

-1.6%

F LOUR M ILL

26.4

-9.2%

M OB IL

24.9

-7.2%

NB

19.0

0.1%

VIT A F OA M

ŐĞŶĞƌĂů ůĂĐŬ ŽĨ ĚƌŝǀĞƌƐ ƚŽ ƐƵƐƚĂŝŶ ƚŚĞ ŵĂƌŬĞƚ ŝŶ ƚŚĞ ƉŽƐŝƟǀĞ ƌĞŐŝŽŶ͘

(A Dealing Member of the Nigerian Stock Exchange)

-6.6%

R ED ST A R EX

4.25

-5.6%

R EGA LIN S

0.20

-4.8%

LA SA C O

Afrinvest Securities Limited (RC 603 315)

3.23

0.28

-3.4%

Investment Research

Brokerage Ayodeji Ebo | aebo@afrinvest.com

Robert Omotunde |

Bolaji Fajenyo | bfajenyo@afrinvest.com

Jolomi Odonghanro | jodonghanro@afrinvest.com

romotunde@afrinvest.com

37

T H I S D AY Ëž Ë&#x153; ͚ͺË&#x153; ͺ͸͚͜

MARKET NEWS

Stanbic IBTC CEO Calls for Deepening of Nigeriaâ&#x20AC;&#x2122;s Debt Market Goddy Egene The Chief Executive Officer of Stanbic IBTC Bank Plc, Demola Sogunle has said proper structures should be put in place to ensure the development of a deep and expansive bonds, loans and derivatives market in Nigeria. According to him, the bond market plays a central role in the deepening of financial markets not only for the diversity of products it offers the market but essentially its role in improving diversification

of funding sources and increasing access to credit markets. Sogunle stated this in Lagos at the annual bonds, loans and sukuk Nigeria conference which held last week. The conference, with Stanbic IBTC as gold sponsor, brought together over 300 participants comprising government officials, corporates, banks, fund managers, investors and advisors. According to him, the conference is growing in stature as a major platform to glean useful information on capital market developments,

A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager. Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return. An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these â&#x20AC;&#x2DC;sharesâ&#x20AC;&#x2122; on the

especially at a time that access to capital has become imperative for Nigeria in the wake of global market volatility He said by throwing its weight behind the event, Stanbic IBTC hopes to trigger the inflow of foreign direct investment into Nigeria by highlighting the countryâ&#x20AC;&#x2122;s huge potential and growth opportunities. This, he said, is in line with the groupâ&#x20AC;&#x2122;s tradition of facilitating must-attend forums where critical insights on the Nigerian economy and the opportunities therein are

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 0811-2018, unless otherwise stated.

provided. The Director General of Debt Management Office (DMO), Ms Patience Oniha spoke on the topic: â&#x20AC;&#x153;Understanding Islamic Finance: what are the requirements, processes and benefits of tapping into this market.â&#x20AC;? She enumerated the impact of Islamic finance in the growth trajectory of many countries across the world. While making a case to harness this very important source of funding, she also highlighted governmentâ&#x20AC;&#x2122;s key

funding requirements and where the funds will come from and the role of government in delivering infrastructure projects. The forum had panel discussions which featured in-depth analysis of case studies, as well as examining Africaâ&#x20AC;&#x2122;s use of debt products, and what is required to sustain the continentâ&#x20AC;&#x2122;s growth story. Executive Director, Stanbic IBTC Capital Limited, Kobby BentsiEnchill, who moderated the session on â&#x20AC;?Diversifying financing options for repeat issuers and assessing the

practicalities for first time issuers and issuances in new sectors,â&#x20AC;? described the conference as a great platform for hearing from and networking with the industry key players in the Nigerian bonds and loans markets. According to him, the overall objective is to provide long-term financing for the countryâ&#x20AC;&#x2122;s economic development. He emphasized that the development of an organized bond, loans and debt market would help diversify investment options and boost economic activities in the country.

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 162.67 163.80 -8.33% Afrinvest Plutus Fund 100.00 100.00 11.00% Nigeria International Debt Fund 272.57 273.87 17.88% ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund 0.83 0.84 0.89% ACAP Income Funds 0.62 0.62 6.41% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 12.45% AIICO Balanced Fund 2.20 2.21 -4.49% 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 133.34 134.28 -12.10% AXA Mansard Money Market Fund 1.00 1.00 12.00% 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 10.87% Paramount Equity Fund 11.62 11.92 4.81% Women's Investment Fund 101.83 104.44 1.19% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 12.15% Cordros Milestone Fund 2023 99.44 99.54 Cordros Milestone Fund 2028 98.90 99.24 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 11.66% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 11.61% 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 1,161.39 1,162.13 10.76% FBN Heritage Fund 143.35 144.57 2.78% FBN Money Market Fund 100.00 100.00 12.33% FBN Nigeria Eurobond (USD) Fund - Institutional $112.51 $112.97 3.35% FBN Nigeria Eurobond (USD) Fund - Retail $112.26 $112.73 3.23% FBN Nigeria Smart Beta Equity Fund 146.74 148.81 -7.64% 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 3.19 3.19 10.52% Legacy USD Bond Fund 1.02 1.02 1.72% 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 2,964.63 2,993.23 -0.71% Coral Income Fund 2,744.75 2,744.75 12.12% GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund 100.00 100.00 11.77% Nigeria Entertainment Fund 105.43 105.65 5.02% INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 11.89%

Vantage Balanced Fund 2.15 2.17 1.98% Vantage Guaranteed Income Fund 1.00 1.00 14.78% Kedari Investment Fund (KIF) 122.38 122.60 6.34% 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 4.10% Lotus Halal Fixed Income Fund 1,080.39 1,080.39 11.95% 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 11.28 11.38 -12.92% Meristem Money Market Fund 10.00 10.00 11.53% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.33 1.36 11.90% PACAM Fixed Income Fund 12.01 12.07 8.79% PACAM Money Market Fund 10.00 10.00 12.00% 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 126.91 127.27 -2.18% 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 1.67 1.67 12.61% 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 2,328.60 2,343.85 5.94% Stanbic IBTC Bond Fund 187.01 187.01 7.40% Stanbic IBTC Ethical Fund 0.97 0.98 -3.47% Stanbic IBTC Guaranteed Investment Fund 243.97 244.01 13.05% Stanbic IBTC Iman Fund 161.78 163.61 -9.66% Stanbic IBTC Money Market Fund 100.00 100.00 11.49% Stanbic IBTC Nigerian Equity Fund 8,724.92 8,832.61 -8.29% Stanbic IBTC Dollar Fund (USD) 1.10 1.10 6.40% 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 -2.13% United Capital Bond Fund 1.57 1.57 9.70% United Capital Equity Fund 0.70 0.71 -7.58% United Capital Money Market Fund 1.00 1.00 12.50% United Capital Eurobond Fund 106.04 106.04 5.97% United Capital Wealth for Women Fund 1.08 1.09 4.14% 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 11.17 11.33 -7.84% Zenith Ethical Fund 12.05 12.15 -6.82% Zenith Income Fund 20.45 20.45 10.84% Zenith Money Market Fund 1.00 1.00 11.78%

REITS NAV Per Share

Yield / T-Rtn

9.00 139.11 51.55

-20.11% 5.02% 1.42%

Bid Price

Offer Price

Yield / T-Rtn

10.47 117.27 91.41

10.57 119.77 93.13

-11.56% -17.89% -16.32%

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

4.18 7.22 15.04 13.50 143.27

4.22 7.30 15.14 13.70 145.27

-11.75% -24.50% -13.87% -31.19% 6.48%

NAV Per Share

Yield / T-Rtn

107.13

17.03%

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 managerâ&#x20AC;&#x2122;s website and FMANâ&#x20AC;&#x2122;s website at www.fman.com.ng. Fund prices are supplied by the operator of the relevant fund and are published for information purposes only.

38

T H I S D AY Ëž ÍŻÍ°Ë&#x153; Í°ÍŽÍŻÍś

CITYSTRINGS

Ă&#x153;Ă&#x2122;Ă&#x;Ă&#x161; Ă?Ă&#x2039;Ă&#x17E;Ă&#x;Ă&#x153;Ă?Ă? Ă&#x17D;Ă&#x201C;Ă&#x17E;Ă&#x2122;Ă&#x153;Ë? Ă&#x2019;Ă&#x201C;Ă?Ă&#x2014;Ă?Ă&#x2013;Ă&#x201C;Ă? äĂ?Ă&#x2122;Ă&#x152;Ă&#x201C; Ă&#x2014;Ă&#x2039;Ă&#x201C;Ă&#x2013; Ă?Ă&#x2019;Ă&#x201C;Ă?Ă&#x2014;Ă?Ă&#x2013;Ă&#x201C;Ă?Ë&#x203A;Ă?äĂ?Ă&#x2122;Ă&#x152;Ă&#x201C;ĚśĂ&#x17E;Ă&#x2019;Ă&#x201C;Ă?Ă&#x17D;Ă&#x2039;ĂŁĂ&#x2013;Ă&#x201C;Ă Ă?Ë&#x203A;Ă?Ă&#x2122;Ă&#x2014;Ë&#x153; Í&#x2018;Í&#x2122;Í&#x2019;Í&#x2013;Í&#x201C;Í&#x201C;Í&#x2013;Í&#x201C;Í&#x201D;Í&#x201C;Í&#x2013;

Advocating a Road Map for Community Security Arising from the second consultative meeting of the National Council of Traditional Rulers of Nigeria, South-south, South-east Chapter, held in Benin City, Edo State recently, some royal fathers posited that the road map for a credible election is to ensure the safety of the local communities. Mary Nnah writes

Cross section of the traditional rulers at the second consultative meeting of National Council of Traditional Rulers of Nigeria, South-south, South-east Chapter in Benin City, Edo State

I

t was a sort of social gathering, but the purpose for it was solemn. So as royal fathers assembled at the second consultative meeting of the National Council of Traditional Rulers of Nigeria (NCTRN) South-south, South East Chapter on October 30, at the Best Western Homerville Hotel, Benin City, Edo State, it was to tackle serious issues that concern the safety of various communities in the nation, mostly as the general elections draw closer. So, they chose a place with a serene atmosphere where they could have hearty discussion, far away from home and the typical burdens of having to attend to numerous issues that arise from their various communities.

The Crux

The crux of the meeting of the traditional rulers was that as preparations for the 2019 general elections deepens, it was pertinent for them to draw a road map for elections that would be free, fair and violence-free. Most importantly their concerns were for the safety and security of lives of members of their various communities during and after the forthcoming elections. It was therefore a gathering for the monarchs to reach a common ground to secure the wellbeing of their subjects. Chairman of the Second Consultation Meeting, HRM Edmund Daukoru, the Mingi XII, Amayanabo of Nembe Kingdom, Bayelsa State, said the meeting was specifically convened to consider the security situation in the country, particularly at a time when the elections were

just around the corner. He said: â&#x20AC;&#x153;The elections are just around the corner, many parties have done their primaries and campaigns will follow very soon. This is always a very tense time and as traditional fathers, we felt

The elections are just around the corner, many parties have done their primaries and campaigns will follow very soon. This is always a very tense time and as traditional fathers, we felt we should get together and look at the matter from the grassroot point of view... Now, we are talking about community security at local government level, at the level of our respective kingdoms and senatorial districts. These are where our concern rests now

we should get together and look at the matter from the grassroot point of view. We have at many other times looked at it from a holistic national point of view, but we felt that those brands of skills require quite some injection of money to get implemented, so this time we changed the tactics and we said letâ&#x20AC;&#x2122;s look at it from a practical local point of view. We felt that if our local governments and communities are safe, then Nigeria is safe.â&#x20AC;? Daukoru said, the gathering was a complete departure from the past where they had always â&#x20AC;&#x153;focused on the problems on a very high level.â&#x20AC;?, adding, â&#x20AC;&#x153;now we are talking about community security at local government level, at the level of our respective kingdoms and senatorial districts. These are where our concern rests nowâ&#x20AC;?. He noted however that the royal fathers were of course not overlooking the larger issues. At the sidelines he said they formed chapters of NCTRN, of which the Sultan of Sokoto, Muhammadu Sa'ad Abubakar III and Ooni of Ife, Oba Adeyeye Enitan Ogunwusiare are the co-chairmen. Asked what exactly the royal fathers advise people to do in relation to security , Daukoru said: â&#x20AC;&#x153;That is the mentality we want to disagree with. Anybody can sit down and write out a shopping list that is all over the map, calling on government to do this and that. Those prescriptive things take a long time to get implemented. And itâ&#x20AC;&#x2122;s on a scale that you cannot really tie output to input. It is only at the level of the traditional fathers that we have some grip and authority over what happens in our communities

and we have made sure that our recommendations do not involve much money, but something that we can implement by just applying a bit more of our time." He stressed further that although these were things traditional rulers do all the time, but as the national elections draw closer, they needed to re-dedicate themselves. â&#x20AC;&#x153;We have made sure that the recommendations we arrived at this meeting does not require much money, but requires something that we as traditional rulers do every day and can implement by just applying a bit more of our own time. But close to elections, we need to re-dedicate ourselves to what we already have been doing, reaffirm the things that we have been doing, draw up check lists by using our local vigilante and engaging the local Divisional Police Officers (DPOs). "

Advocating for Violent-free Elections

Speaking on the theme of the meeting, â&#x20AC;&#x153;Ensuring a Violent-free 2019 General Elections in Our Zones and Kingdoms: The Role of Traditional Rulersâ&#x20AC;?, and the task ahead, he said: "There are three aspects of approach to this. There is the pre-election aspect which we should engage in very diligently because elections exacerbate already existing tension in our communities. So, we must address those flashpoints. Those that cannot be immediately resolved, at least stakeholders should have an understanding for moratorium, a kind of ceasefire that they should not be allowed to colour the elections. "Then, there is the period starting from screening to primaries to the actual campaign strings and

39

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CRIME&SECURITY CRIME SITUATION REPORTS

SECURITY TIPS (PART 25) r"MM QFSTPOT FOHBHFE JO CVTJOFTT USBOTBDUJPOT UIBU JOWPMWF IVHF DBSSJBHF PG DBTI NVTU FOEFBWPS UP BQQMZ GPS TFDVSJUZ DPWFSBHF r 4VDI USBOTBDUJPOT NVTU BT NVDI BT QPTTJCMF CF LFQU TFDSFU BOE OPU TIBSFE XJUI QFPQMF XIP EP OPU OFFE UP LOPX BCPVU JU r"WPJE VOOFDFTTBSZ EJTQMBZ PG XFBMUI BOE áBNCPZBOU PVUà UT r"WPJE MBUF OJHIU NPWFNFOUT r "WPJE UIF VTF PG TQFDJBM QMBUF OVNCFST BT JU JT B USBEFNBSL BOE DBO FBTJMZ CF VTFE UP JEFOUJGZ ZPV r #F WJHJMBOU BCPVU QFPQMF BSPVOE ZPV XIFO NBLJOH VTF PG UIF CBOL "5. r "OZ QFSTPO T CPBSEJOH B UBYJ PS PUIFS DPNNFSDJBM WFIJDMFT TIPVME OPUF UIF SFHJTUSBUJPO OVNCFS PG UIF WFIJDMF r 4VTQJDJPVT QFSTPOT NPWFNFOU BOE USBOTBDUJPOT NVTU CF SFQPSUFE UP UIF OFBSFTU 1PMJDF TUBUJPO PS DPOUBDU UIF VOEFS NFOUJPOFE QIPOF OVNCFST GPS QSPNQU BDUJPO SOURCE: Imo State Police Command From left: Chief Sponsor of event, HRH Appolus Chu, the Ebere Emere Okori, Eleme of Eleme Kingdom, Rivers State; HRM Edmund Daukoru, the Mingi XII, Amayanabo of Nembe Kingdom, Bayelsa State and HRM, Aliyu Danesi, the Aidonogie of South- Ibie kingdom, at the event

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Recommendations

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POLICE STATIONS IN LAGOS WITH FAMILY SUPPORT UNIT The Lagos State Police has released an update on police stations in the state that have Family Support Units (FSUs)/Gender Unit/ Juvenile Welfare Centre (JWC) and phone numbers to reach them on. "EFOJKJ "EFMF -BHPT *TMBOE *TPLPLP *MVQFKV 'FTUBD "MBLVLP #BEBHSZ "KBI *LPSPEV *HCPHCP ,FUV *LPUVO (FOEFS %FTL 1PMJDF $PNNBOE (3" *LFKB %JWJTJPOBM 1PMJDF 4UBUJPO +8$ "MBLBSB SOURCE: Lagos State Police Command

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Ã DFS 1130 Source: The Lagos State Police Command

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MONDAY NOVEMBER 12, 2018 ˾ T H I S D AY

INTERNATIONAL

Macron Snubs US Arms in Defence Spat with Trump Europe should not spend higher defence budgets on US-made weapons, French President Emmanuel Macron said in an interview due to air Sunday, after a defence row with President Donald Trump. One of dozens of world leaders attending World War I commemorations in France this weekend, Trump tweeted after landing in Paris that Macron’s call for a “real European army” was “insulting”.

In an interview recorded on Saturday withCNN after talks with Trump, Macron said the two leaders had spoken about what his office has portrayed as a misunderstanding. “We had a regular discussion this morning and he confirmed in front of the press that he was ok,” Macron told CNN. Both leaders agree there should be “better burden-sharing within NATO”, meaning Europe should be less reliant on US spending

10 Killed as Train Derails in DR Congo At least 10 stowaways were killed and 24 were injured when a freight train derailed in the eastern Democratic Republic of Congo, a local official said Sunday. Rehema Omari, the stationmaster in the town of Samba near where the accident occurred on Friday, said the toll was provisional. “The brakes gave way when the train was going at top speed,” she told AFP, adding that the driver had fled. A migration service official said however that he saw “at least 30 mangled bodies and others under the cars” of the train. State rail company SNCC’s director general for Lubumbashi, Ilunga Ilunkamba, said experts were on the scene to determine the

final toll and investigate the causes of the accident. SNCC is headquartered in Lubumbashi, the DR Congo’s mining capital, where the train had been headed from the central city of Kindu when it derailed near Samba some 280 kilometres (175 miles) to the south, Omari said. Rail accidents in the sprawling former Belgian colony are frequent and often deadly because of decrepit track and ageing locomotives dating from the 1960s. In November 2017, 35 people, many of them clandestine passengers, were killed when a freight train carrying 13 oil tankers plunged into a ravine in southern Lualaba province.

Gabon Leader Ali Bongo Seriously Ill, Says Presidency Gabon’s President Ali Bongo, hospitalised in Saudi Arabia on October 24, is seriously ill but on the mend, the presidency said Sunday. The 59-year-old leader’s condition “has greatly improved” and he is in the process “of recovering most of his functions,” Ike Ngouoni, the spokesman for the presidency, said. Lack of official news — along with memories of the secrecy-shrouded death of Bongo’s father Omar Bongo in office in 2009 after decades at

the helm — has set the rumour mill churning about his health. A foreign source close to Bongo and his French-born wife Sylvia told AFP on Wednesday that Bongo had had a stroke. Bongo served as foreign and defence minister during his father’s rule, and after his death was elected head of state in August 2009. He was narrowly reelected in 2016 following a presidential poll marred by deadly violence and allegations of fraud.

for its defence, Macron said. But Macron told CNN: “To be very direct with you, what I don’t want to see is European countries increasing the budget in defence in order to buy American and other arms or materials coming from your industry.” He added: “If we increase our budget, it’s to build our autonomy.” Macron had last month criticised Belgium’s decision to buy US-made F-35 fighter jets instead of European planes, saying it “goes against European

interests”. He refrained from commenting on Trump’s “insult” tweet, beyond saying, “I always prefer having direct discussions or answering questions than making my diplomacy through tweets.” In a radio interview this week, Macron had named the United States alongside China and Russia as sources of risk. He said the EU needed to be less dependent on the United States, not least following Trump’s withdrawal from a Cold War-era nuclear treaty.

Trump on Friday called Macron’s comments “very insulting”. The French presidency later sought to defuse the row, saying Macron remarks had been misinterpreted. – ‘Cooperation is good” – In his talks with the US leader Macron said he was merely arguing that Europe needed to take greater ownership of its own security, and Trump described the pair as “very good friends”. Macron however told CNN that while he and Trump had things in common

— notably their rise to power as outside candidates — their outlook on the world was very different. “I’m not a nationalist, which for me is very different from being a patriot. I do defend my people, I do defend my country, I do believe we have a strong identity,” Macron said. “But I’m a strong believer in cooperation between the different peoples. And I’m a strong believer of the fact that this cooperation is good for everybody.”

Russian President Vladimir Putin (right), talking with German Chancellor, Angela Merkel (middle); and US President Donald Trump, as they attend a ceremony at the Arc de Triomphe in Paris to commemorate the 100th anniversary of the November 11 1918 armistice, ending World War I. AFP

Ebola Outbreak: Worst in Congo’s History, Says Health Ministry The current Ebola outbreak in the Democratic Republic of Congo is the most severe in the country’s history with 319 confirmed and probable cases, the health ministry said late on Friday. The haemorrhagic fever is believed to have killed 198 people in North Kivu and Ituri provinces, where attacks by armed groups and community resistance to health officials have complicated the response. Congo has suffered 10 Ebola outbreaks since the

virus was discovered near the eponymous Ebola River in 1976. “The current epidemic is the worst in the history of DRC,” Jessica Ilunga, a spokeswoman for the ministry told Reuters. With over 300 cases the epidemic also ranks as third worst in the history of the continent, following the 2013-2016 outbreak in West Africa where over 28,000 cases were confirmed and an outbreak in Uganda in 2000 involving 425 cases. World Health Organization

Director-General Tedros Adhanom Ghebreyesus said on Thursday that security represented the primary challenge in the current epidemic, followed by community mistrust. “When there is an attack, the operation actually freezes. So we hold the operation. And when the operation stops, the virus gets the advantage and it affects us in two ways,” he told reporters in Kinshasa. “And one is catching up on the backload. Because when operations are stopped,

there is always a backload of vaccinations or contact tracing. And the other, the second problem, is that more cases are generated because we can’t vaccinate them,” he said. The confirmation of new cases has accelerated in the last month and an emergency committee of World Health Organization experts said in October that the outbreak was likely to worsen significan t l y u n l e s s t h e re s p o n s e w a s s t e p p e d up.

Investigators in Grim Search for Dead as California Fires Rage US Voices Concern over Mandatory evacuation orders Fire Protection (Cal Fire) said. teams scoured the Nevada mountains north of Tanzania Rights Deterioration Search carnage of California’s most Sacramento — has destroyed have been issued for more than So far, three of the more than The United States at the weekend urged Tanzania to safeguard the rights of journalists and civil society, voicing concern over a growing crackdown on media, activists and the gay community. Two press freedom advocates were taken in for questioning and released last Thursday, while a powerful Dar es Salaam official last week vowed to track down people suspected of engaging in homosexuality — illegal in Tanzania. “The United States government is deeply concerned over escalating attacks and legislative actions by the Government of Tanzania that violate civil liberties and human rights, creating an atmosphere of violence, intimidation and discrimination,” State Department spokeswoman Heather Nauert said in a statement.

“The deteriorating state of human rights and rule of law in Tanzania inhibits development, economic prosperity, peace and security,” she said. “We call on Tanzanian authorities to act decisively to safeguard the rights of civil society organizations, human rights defenders, journalists, health workers, political activists and all people,” in accordance with local and international law, she said. She added that the United States was “troubled” by arrests and harassment of the LGBT community. The United States has had warm relations with Tanzania, which has received aid under the Millennium Challenge Corporation which is only eligible to countries that respect democratic norms.

destructive ever wildfire Sunday, with the state-wide death toll climbing to 25 as high winds and tinder-dry conditions hampered the effort to save lives. Firefighters took advantage of a brief calm overnight to make headway against the multiple blazes, but conditions were expected to be hellish on Sunday with winds reaching as high as 70 miles (110 kilometres) an hour. In fire zones north and south, acrid smoke blanketed the sky for miles, the sun barely visible. On the ground, cars caught in the blaze were reduced to metal carcasses, while power lines were gnawed by the flames. The largest inferno — the so-called “Camp Fire” in the foothills of the Sierra

6,700 homes, business and other buildings in the town of Paradise, effectively wiping it off the map. Local sheriff Kory Honea told a news conference late Saturday 14 more bodies had been found in and around the devastated community of 27,000 people, bringing the number of dead to 23. Only two wildfires have claimed more lives in California, the most recently more than a quarter-century ago. Further south, where the “Woolsey Fire” is threatening mansions and mobile homes alike in the celebrity redoubt of Malibu, the bodies of two people were found inside a vehicle in a long driveway, Deputy Aura Sierra of the Sheriff’s Information Bureau said.

250,000 people across California. Rescuers spent Saturday collecting bodies around Paradise and placing them in a black hearse. Charred body parts were transported by the bucket, while intact remains were carried in body bags. At the Holly Hills Mobile Estate the mobile homes had been reduced to smouldering piles of debris. Yellow police tape marked spots that were tagged “Doe C” and “Doe D,” suggesting that bodies had been collected. Locals fled the danger, but police told AFP some farmers returned to check on their cattle. Fanned by strong winds, the “Camp Fire” has so far scorched 105,000 acres (42,500 hectares) and is 20 per cent contained, the California Department of Forestry and

3,200 firefighters deployed have been injured. They estimate they will need three weeks to fully contain the blaze. Local power authorities told state officials that an outage occurred near the spot where the fire erupted, The Sacramento Bee reported, but there is no official cause of the blaze. Concerns over looting were meanwhile growing, with two so far arrested in Ventura County near LA. “If you come into these affected areas to try and take advantage of the destruction and the suffering of these residents, you will be arrested, charged and we will take you to jail,” Los Angeles County Sheriff ’s Chief John Benedict said.

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MONDAY NOVEMBER 12, 2018 ˾ T H I S D AY

NEWS

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

Take a Cue from Buhari, Oshiomhole Tells Losers in APC Primaries Adibe Emenyonu in Benin City Following the controversy that trailed the outcome of the primary elections of the ruling All Progressives Congress (APC), the party’s National Chairman, Adams Oshiomhole, yesterday urged all those that lost out to take a cue from President Muhammadu Buhari who contested the presidential election four times before he could win saying, contesting in an election is a long distance race. Oshiomhole who spoke to journalists in Benin City, Edo State shortly after the church service to mark the second year anniversary of the administration of

Governor Godwin Obaseki, however denied visiting the National Leader of the party, Bola Tinubu, in London as reported in some sections of the media. “Once you have more than one aspirant, there will be a winner but in a good democracy if those who win, govern for the good of all, everybody will be a winner. If it were possible to field everybody that had contested, we will do so but it is not possible and I think that overtime, people will recognise this reality and they will overcome whatever shock they may have suffered because everybody going out to play a football match is doing so believing that he can

win but at the end of the day, there must be a winner. “I think the people should just accept that there will always be a winner; that you didn’t win today does not mean you will not win tomorrow and there is no better example than the fact that our president, President Muhammdau Buhari lost three times, but he did not give up, the fourth attempt he won. There is a lot to learn

from that. It is a long distance race and only those who have capacity for long distance will venture into the business of politics.” On his alleged meeting with Tinubu in London, Oshiomhole said “What am I going to do in London? The truth is that when you are a leader and as they say the tree that bears fruit will always attract stones, both those who want to pluck and

those who are just hungry. Why will I go to London to see Tinubu when I can see him in Bourdillon? And what are the issues between me and him that I am going to resolve with him? The leader of the party who is the president of Nigeria, I have access to him 24/7. So, I don’t need to go to London through the queen to reach my own leader in Lagos, it doesn’t make sense.

“The problem is that once a news reporter succeeds in printing one lie, he is obliged to print several lies to sustain that one lie. So, some of the media and I don’t want to mention their names haven allowed the opposition to misuse them to fake news, they now feel obliged to fake more news to sustain the fake news but it will remain fake news. I am here and I am fine.”

Impeachment: Ondo Lawmakers Shun Akeredolu’s Peace Meeting State workers threaten strike over N20.9bn Paris Club refund James Sowole in Akure The 18 members of the Ondo State House of Assembly, who effected the removal of the Speaker, Bamidele Oloyeloogun, and his deputy, Ogundeji Iroju, shunned the meeting summoned by state Governor, Oluwarotimi Akeredolu, to intervene on the leadership crisis that rocked the assembly. This is coming as the organised labour in the state has threatened to resume the suspended strike if the state government fails to start payment of the salary arrears from the N20.9 billion received as the state’s share of Paris Club loan refund by today. THISDAY learnt yesterday that the 18 lawmakers had fled the state and relocated to Ibadan, Oyo State, following alleged threat to their lives. The situation came just as the All Progressives Congress (APC) said the party and its state Chairman, Mr. Ade Adetimeyin, were not involved in the invasion of the assembly by hoodlums suspected to be members of the National Union of Road Transport Workers (NURTW) after the removal of the speaker and his deputy. During the invasion of the assembly, some lawmakers, journalists, assembly workers and security agents were assaulted. Sequel to the removal of Oleyelogun and Ogundeji, Olamide George and Faloju Abimbola were elected and sworn in as the new Speaker and deputy Speaker respectively. It was gathered that the 18 lawmakers shunned the meeting convened by the governor while the removed Speaker, his deputy and four others loyal to the embattled Speaker, attended the meeting. A lawmaker, who was among those that shunned the meeting convened by Akeredolu said they relocated to Ibadan, Oyo State capital, following series of threats to their lives after the Speaker’s removal last Friday A source within the government also confirmed

the lawmakers’ absence at the meeting, adding that only the removed leaders of the assembly and four others loyal to them honoured the governor’s invitation. “The governor had lost the control of the assembly, and the former speaker (Oleyelogun) was not in-charge, if not for the APC and Aketi, he would have been removed since, but I don’t think the removal would be reversed because some lawmakers are not returning to the assembly in 2019, so they have nothing to lose.” Akeredolu had early this year intervened in the removal of the speaker and his deputy, which brought them back to office. The source said the governor was rattled with the development as George-led assembly is clearly the majority with two-third required by the constitution to take decision in the assembly. Meanwhile, state APC Publicity Secretary, Mr. Alex Kalejaye, debunked the allegation that the party’s chairman led thugs to invade the assembly. Kalejaye in a statement described the allegation as untrue and a wicked blackmail. The publicity secretary said the chairman was only at the assembly to pacify the lawmakers, but he was assaulted and told that it was not a party affair. “The chairman got the information that the lawmakers were planning the removal of the speaker and his deputy, and he rushed to the assembly. “The APC members are in the majority in the House of Assembly, so, like a father, the chairman has a responsibility to race down to the assembly in response to such distress call, and that he did last Friday. “The intention of the chairman wastoexplorewaystopacifyaggrieved members and ensure the situation did not degenerate to an ugly scene. Unfortunately, he was rebuffed by some members, who actually assaulted him, saying it was purely a party affair.

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PROMOTING GOOD GOVERNANCE…

L-R: Member, Board of Directors, Africa Initiative for Governance (AIG), Mr. Herbert Wigwe; member, AIG Panel of Advisors, Dr. Enase Okonedo; Chairman, AIG, Mr. Aigboje Aig-Imoukhuede; member, AIG Panel of Advisors, Olusegun Adeniyi; Chairman, AIG Panel of Advisors, Chief Olusegun Obasanjo; member, AIG Panel of Advisors, Alhaji Abubakar Mahmoud; member, Board of Directors, AIG, Dr. Jeya Wilson; and Chief Executive Officer, AIG, Ms. Chienye Ogwo, at the AIG Panel of Advisors’ meeting held in Lagos…recently

Stop Using Sniper to Preserve Beans, Ogbeh Begs Traders The Minister of Agriculture and Rural Development, Chief Audu Ogbeh, yesterday expressed displeasure at the use of chemicals for food preservation and fruit ripening, and urged traders not to use sniper to preserve beans. Ogbeh said in an interview with journalists in Otukpo, Benue State, that the act was detrimental to human health and the environment. “Sniper is very dangerous; people also use carbide to ripen bananas and some other fruits; people do all kinds of things. “Suddenly, people are developing different diseases, something is wrong,’’ he said, in reaction to the reported use of 2,2-dichlorovinyl dimethyl phosphate, otherwise marketed and known as sniper, to preserve

beans by retailers. He appealed to foodstuff and fruit sellers and others Nigerians to adopt natural means of preservation. The minister said that the ministry would collaborate with the National Orientation Agency (NOA) to create more awareness on the need for citizens not to use chemicals for food preservation and fruit ripening. “We appeal that they use natural means such as pepper to prevent weevils in beans instead of sniper. We hear this and we send people to warn them but the ministry can’t catch everybody. “We are going to use the National Orientation Agency and state ministries of agriculture to create awareness on the need for

people to desist from these acts. “We just have to keep educating people,” he said. The National Agency for Food Drug Administration and Control (NAFDAC) has also warned citizens against eating and buying foodstuffs and fruits preserved or ripened with chemicals. NAFDAC also advised that sale of grains or beans suspected to be preserved with chemicals be reported to the agency. The use of sniper to preserve beans has gone viral on social media. Worried by the development, the Consumer Protection Council (CPC) at the weekend advised consumers to extensively parboil beans before consumption. CPC’s Director General, Mr. Babatunde Irukera, gave the

advice in a statement in Abuja, adding that consumers should make sufficient enquiries before buying beans. He said that consumers should also sufficiently wash their food items before cooking. He said: “Thorough washing of food items before consumption or preparation for consumption is a generally accepted method of protecting and promoting safety. “CPC has recently confirmed by credible information that retailers, mostly in the open market, are using a pesticide to preserve beans. “The use of 2,2-dichlorovinyl dimethyl phosphate (DDVP compound), otherwise marketed and known as sniper to preserve beans, and more particularly to protect them against weevils, is dangerous,” he said.

Army Kills Two Boko Haram Commanders, Reclaim Communities Kingsley Nwezeh in Abuja Troops of the Nigerian Army at the weekend decimated two commanders of terrorist group, Boko Haram, in Borno State. The terrorists, Abu Rajal and Tuja Sa’inna, were killed following a joint operation by 25 Task Force Brigade, Chibok and 28 Task Force Brigade, Damboa.

The brigades had embarked on a clearance operation from Gumsuri to Gambori communities in the state. The raid successfully cleared and liberated other villages, according to a statement by the army. “Gallant troops neutralise high profile Boko Haram terrorist commanders. Recall that troops of 25 Task Force

Brigade Chibok and 28 Task Force Brigade Damboa, embarked on Joint clearance operations from Gumsuri to Gambori in Borno State, on 9 November 2018, where they successfully cleared and liberated some villages. “Reports just reaching Headquarters Nigerian Army, has confirmed that two high profile BHT commanders named Abu Rajal and Tuja

Sa’inna Banki were killed during the clearance operations. “The The Chief of Army Staff (COAS), Lt. Gen. Yusuf Buratai has commended the gallant troops and urged them to carry out further incursions and clearance operations to ensure that the remnants of the BHT are completely wiped out”, the army said in its twitter handle

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Air Peace Explains Delay on International Operations Chinedu Eze Nigeria’s major airline, Air Peace, has explained that it is yet to embark on its international long-haul operations because it has not secured approvals for flight service from the countries of its planned destinations. The federal government had designated Air Peace to fly to London, Guangzhou-China, Houston, US, Mumbai, India, Johannesburg, South Africa, Dubai and Sharjahin, the United Arab Emirates, but these countries are yet to give approval for the Nigerian carrier to serve these routes. The airline attributed this to aero politics in which countries try to protect their own airlines against competition from outsiders, adding that to overcome this obstacle, governments usually go along with the designated airlines to push and break these barriers in the spirit of diplomatic reciprocity. Air Peace Chief Operating Officer, Mrs. Oluwatoyin Olajide, who made this known yesterday,

said the authorities of most of the international destinations the carrier had been designated to operate to were either deliberately foot-dragging in processing its application or imposing frustrating conditions to discourage it from flying into their domains. Some of the destination countries, she said, responded to the airline’s application only after about two years. The airline was reacting to the remarks made by the Minister of State, Aviation, Senator Hadi Sirika at the 5th Stakeholders Forum last Thursday in Abuja where he acknowledged that his office had designated the airline to the aforementioned destinations but the Nigerian carrier has not started operating to them. Olajide explained that even the countries that have approved the airline to operate to their domain imposed impossible charges in order to discourage the airline. She decried the high charges imposed on Nigerian airlines by other countries and remarked that in the principle of reciprocity,

Nigeria ought to respond to them by also charging the airlines from these countries exorbitant charges as a response to their ill treatment of a Nigerian airline. Olajide dismissed claims that domestic airlines lacked the capacity to take advantage of the Bilateral Air Service Agreements (BASA) Nigeria signed with different countries. She said Air Peace has demonstrated its capacity to operate to the designated destinations,

remarking that the carrier at the moment has been consistent in its operation into 14 domestic and five regional destinations, including Accra, Banjul, Dakar, Freetown and Monrovia. Olajide maintained that Air Peace had capacity to operate into all destinations approved for it, announcing that the airline was concluding arrangements to launch its Dubai and Sharjah services before the end of the

year. In apparent response to the claim that some foreign airlines operating in Nigeria had offered 20 pilots jobs, the Air Peace COO said the carrier had so far directly offered jobs to more than 3,000 Nigerians, besides impacting the country’s economy in many other areas. She also described the inability of airlines to operate into most of the nation’s airports once it

was sunset as a great disservice to the operational capacity of the carriers. Speaking on the suspended national carrier project, which Air Peace had criticised as being out of fashion and a drain on public resources, Olajide wondered whether it would be fair for the federal government to confer the planned airline with advantages not available to the existing private carriers.

Appeal Court Explains Relocation of Osun Gov Tribunal to Abuja PDP asks NJC to probe appellate court’s decision Yinka Kolawole in Osogbo The Court of Appeal at the weekend explained why it relocated the Osun State governorship election petition tribunal from Osogbo to Abuja. This is coming as the Peoples Democratic Party (PDP) has called on the National Judicial Council (NJC) to probe the sudden relocation of the sitting of the tribunal. The tribunal was set up to hear petitions arising from the September 22 and 27 governorship polls in the state which Gboyega Oyetola of the All Progressives Congress (APC) was declared the winner. THISDAY gathered that the reshuffled three-member panel was moved to FCT High Court No 24, Apo Abuja following the directives of President of the Court of Appeal, Justice Zainab Bulkachuwa. Giving reasons for the relocation, the spokesperson of the Court of Appeal, Sa’adatu Musa, said the action of Justice Bulkachuwa is in line with the Nigerian constitution. “It is constitutional. The president (of the appeal court) has the power to constitute a panel and to use that same discretion if she feels a need for safety so that there will be peace. “If there’s a flash point or there would be trouble or insecurity of the judges, will you want to expose your judges if you are the one? “Because of this, once in a while (the president exercises the power) and for peace to reign. Let there be no interference and so as to maintain peace and order amidst tensed politics.” The spokesperson added that a similar situation occurred in Rivers State. “You could remember in 2016 when she (the president of the court) relocated some tribunals back to Abuja from Port Harcourt. “For example,

during the Wike and Amaechi issue, she moved them back to Abuja so that they can stay in a peaceful environment”. Asked if the sudden relocation will not be termed a political move by the opposition party, Sa’adatu said it would not be the first time the court will be accused of an attempt to tamper with justice. “They have always thought otherwise. During the PDP time, APC were accusing Her Lordship that she is PDP. Now it is APC time and PDP members are accusing that she is a member of APC.” But the Peoples Democratic Party (PDP), in a statement signed by the state Chairman, Soji Adagunodo, yesterday asked the National Judicial Council to probe the ‘sudden’ relocation of the sitting of the tribunal to Abuja. The party described the relocation as “another sign that there is a desperate and evil plan by some forces to implement a prewritten script on the proceedings and outcome” of its petition before the tribunal. The party said though it was not shocked by the development, “in view of the several boastings of prominent APC leaders to that effect in the last few weeks”, it was “very disappointed that a very important institution like the judiciary would allow itself to be cheaply manipulated by unscrupulous elements in the political space.” “We believe that the decision to relocate the tribunal sitting to Abuja was also without any justifiable reason because there had been no reports on any security breach neither had there been any other cogent factor that could have necessitated the action.” The party said it was probable those who took the decision without consultation with counsel to the petitioners did so partly to prevent the people of the state from observing the proceedings of the tribunal and also to make it easier for federal authorities to influence its outcome.

TIME FOR PRAISE AND WORSHIP…

L-R: Secretary to Edo State Government, Osarodion Ogie; Deputy Governor, Hon. Philip Shaibu; Edo State Governor, Mr. Godwin Obaseki ; and his wife, Mrs. Betsy Obaseki, at the 2018 Alaghodaro Thanksgiving Service at Church of God Mission International (CGMi), in Benin City, Edo State…yesterday

ObeyYour Own Constitution, Kashamu Tells PDP The lawmaker representing Ogun East Senatorial District at the National Assembly, Senator Buruji Kashamu, has counseled the leadership of the Peoples Democratic Party (PDP) to respect and obey the party’s constitution and toe the path of the rule of law to once again win the hearts of Nigerians. This was contained in a letter dated November 4, 2018 addressed to the national chairman of the PDP, Prince Uche Secondus. Kashamu’s letter was prompted by Secondus’ November 1 letter to the Independent National Electoral Commission (INEC) in which he faulted its recognition of the Adebayo Dayo-led Ogun State PDP executive. But Kashamu, in the letter titled Re: Nomination of Candidates for 2019 General Election in Ogun State, stated

that the power to organise state congress and elect governorship candidates for the party resides in the state chairman and not the national chairman or the National Executive Committee (NWC). Quoting the party’s constitution, the Senator stated, “Specifically, Section 25 (1) of the PDP Constitution (as amended in 2017) states, ‘There shall be a State Party Congress which shall consist of: (a) The State Chairman who shall be the Chairman. Section 25 (2c) states further, ‘The functions of the State Congress shall be to: (c) Elect governorship candidates of the Party.’” He added, “You quoted Section 50 (1) of the PDP Constitution which states, ‘The National Executive Committee shall, subject to the provisions of the Constitution of the Federal Republic of Nigeria, 1999 (as amended),

Electoral Act (as amended) and this Constitution, formulate guidelines and regulations for the nomination of candidates for election into public offices at all levels and shall be the final authority for resolving all disputes relating to the choice of candidates for the party for any election…’ “A cursory look at the above provision of the Constitution of our great party clearly states that the actions of the NEC shall be subjected to the provisions of the 1999 Constitution, the Electoral Act and our Party’s Constitution – in that order. “It goes without saying that the powers vested in the NEC as stipulated above are subject to the 1999 Constitution that established the courts. Therefore, where a person is aggrieved by the action of an authority (e.g. a political party), such a person is

entitled to seek redress in the court of law as established by the 1999 Constitution; and any judgment delivered by such court with respect to the grievance is binding on such authority or person. That is what INEC has done and that is what PDP should do – to show all and sundry that it has truly rebranded and that the culture of impunity belonged in the past.” The lawmaker’s letter reads further, “It is interesting that you quoted Section 87 (1) of the Electoral Act 2010 (as amended) but then further down, particularly subsection (4b ii) of the Electoral Act states, ‘The aspirant with the highest number of votes at the end of voting shall be declared the winner of the primaries of the party and the aspirant’s name shall be forwarded to the Commission as the candidate of the party, for the particular State’.

Insurgency: INEC to Take Decision on Security Risk Adedayo Akinwale in Abuja Following the recent escalation of Boko Haram insurgency in Borno State, that has led to the burning down of some villages and even loss of lives, the Independent National Electoral Commission (INEC) has said that it will make a decision on the security risk involved in the said registration areas and local governments at the appropriate time. The electoral body said it is also working in consultation and collaboratively with the Inter Agency Consultative Committee on Election Security and the National

and State Emergency Management Agencies in mapping out the Local Governments, Registration Areas and Polling Units that are problematic. INEC National Commissioner and Chairman Information and Voter Education Committee, Mr. Festus Okoye, disclosed this in an e-mail while reacting to THISDAY enquiry. He stressed that though, the commission was aware of the security challenges in the North-east, the North Central and indeed in several parts of Nigeria, but assured that INEC will conduct the 2019 elections in all parts of the country

including States that are facing serious security challenges. Okoye said that the commission will in compliance with section 29(3) of the Electoral Act, 2010(as amended) and for the purposes of securing the vote, be responsible for requesting for the deployment of relevant security personnel necessary for election. He stated, “We assure the Nigerian people that adequate security will be in place before, during and after the elections. “In other words, the 2019 elections will take place in all Polling units, Registration Areas, Local Governments and States

unless it is practically impossible to conduct elections in such places. “The Commission is aware of security challenges in some Local Governments across the federation and will make a determination on the security risk involved in the said Registration Areas and Local Governments at the appropriate time. “The Commission is aware that so many Nigerians are internally displaced and are in various camps and in the houses of relatives. consequently, the Commission has set up a Committee to work out the modalities and parameters for IDP votinginthe2019elections,”he added.

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Stop Blaming N’Assembly for Budget Delay, Olujimi Tells Presidency Deji Elumoye in Abuja Senate Minority Leader, Senator Biodun Olujimi, has said the executive arm of government is being acting clever by half-blaming the legislature for the delay in the passage of its annual budget. President Muhammadu Buhari had penultimate Friday in Abuja put the blame for the delay in passage of its annual budget at the doorstep of the National Assembly saying such delay was affecting the completion of capital projects across the country. Olujimi in a reaction in Abuja yesterday however differed with the president’s position, saying blaming the National Assembly for the annual delay in the passage of the Appropriation Act was not only unfortunate but only shows that the executive arm is not saying the truth. She, therefore, advised the presidency to desist from playing politics with sensitive issues like the budgeting process. According to her, the executive arm needs to interrogate the efficiency of those involved in budget preparation so that it can realise that one of the causes of delays in budget passage is how the budget estimates submitted to the legislature come without the necessary details and accompanying documents. “What were usually laid before the parliament were mere window dressing documents for the purpose of the presentation ceremony and

the photo opportunities,” she said. Olujimi also recalled instances in the past like in the case of the 2016 budget when after the budget proposal was submitted with fanfare, the executive attempted to surreptitiously change what was submitted, thereby leading to allegation of ‘missing budget’ in the media. “Later, there were two formal applications for substitution of the budget proposals. “All these developments will necessarily lead to delay in the passage of the budget. The National Assembly, in the spirit of co-operation, decided to keep quiet and demonstrated understanding with the executive. Yet, in order to undermine the legislature and incite the people against the institution, the executive will often go to the public to talk ill of the legislature and blame us for its own failure,” the Senate leader said. Olujimi also emphasised that “the president himself in June this year expressed surprise during a meeting with the leadership of the National Assembly when he was confronted with the fact that ministers and heads of other agencies have refused to defend the budget proposals of their ministries department and agencies (MDAs) before legislative committees. “On that occasion, the president stated that the information was contrary to what he was fed by his aides before coming for the meeting. He then ordered the

N754.8m NIMASA Fraud: EFCC Turns Defendants to Witnesses Davidson Iriekpen A new twist has been added to the ongoing trial of the former Director-General of Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Patrick Ziadeke Akpobolokeme, and five others as the Economic and Financial Crimes Commission (EFCC) has decided to withdraw charges against three of the defendants and made them its witnesses in the amended charge. In the original charge filed before the court, Akpolobokeme is being tried before an Ikeja High Court of Lagos, alongside Captain Ezekiel Bala Agaba, Vincent Udoye, Ekene Nwakuche, Governor Amechee Juan and Captain Adegboyega Olopoenia Shaib and a company, Gama Marine Nigeria They were all accused of allegedly stealing the sum of N754.8 million. However, in the amended 12-count charge dated November 1, 2018 and filed before the court, three of the defendants, Ekene Nwakuche, Governor Amechee Juan and Captain Adegboyega Olopoenia Shaib, were removed from the new charge and same was withdrawn against them. They were listed as additional witnesses to testify in the matter. At the last hearing of the matter, the prosecutor, Mr. Rotimi Oyedepo, had told the court presided over by Justice Raliat Adeniyi, that his agency withdrew the names of Nwakuche, Governor Juan

and Olopoenia and make them prosecution witnesses in the matter, following a change of strategy in the matter and this gave room for speculations that the trio struck a plea deal with the agency. Reacting to the insinuations surrounding the plea deal struck with the anti-graft agency, lawyer to one of the ‘new EFCC witnesses in the matter, Ige Asemudara, said there was no time his client, Governor Juan and others had a plea deal with the agency, rather it was the agency that spoke with his client and others that the charge will be withdrawn against them and later decided to make them prosecution witnesses. Asemudara while reacting to media reports on his client and others said: “The insinuation that my client, Governor Juan, had a plea deal with the EFCC so that he can be the agency’s witness in the case is not true and can never be true. “The EFCC out of their own wisdom and strategy decided to withdraw charges against the three defendants and make them witnesses in the matter in order to strengthen the commission’s case against the remaining defendants. “Although I don’t know the exact discussion EFCC had with Captain Olopoenia and Mr. Nwakuche, but for my client, I know EFCC now prefers to call the three of them as witnesses and removed their name from the charge.

Secretary to the Government of the Federation (SGF) to compel all heads of MDAs to immediately appear before the respective committees so that the budget can be passed. The Senate Minority Leader

went further to say that some ministers had in the past appeared before the National Assembly committees and denied certain provisions in the budget of their ministries. According to her, “In one

instance, Information Minister, Lai Mohammed, denied the provision made for the purchase of computers in his ministry as stated in the budget proposal submitted to the National Assembly. “This kind of disconnect

between budget proposals and the position of the heads of MDAs made the National Assembly to insist on budget defence by heads of MDAs. This has helped to curb the menace of what is known as budget padding.”

SPIRIT OF UNDERSTANDING...

L-R: Lagos State Peoples Democratic Party (PDP) governorship candidate, Mr. Jimi Agbaje; his Deputy, Mrs. Haleemat Busari; her counterpart in All Progressives Congress (APC), Dr. Kadiri Obafemi Hamzat, and the APC governorship candidate, Mr. Babajide Olusola Sanwo-Olu, at a wedding engagement ceremony of Shodipo and Dosekun families, in Lagos...recently

Boko Haram Kills Cripple, Razes 65 Houses, Carts away 200 Cows, 300 Sheep Michael OlugbodeinMaiduguri Suspected Boko Haram members have attacked a village in the outskirts of Maiduguri, the Borno State capital, kiling a cripple and setting ablaze the entire community. A statement by the North East Zonal Coordinator of the National Emergency Management Agency (NEMA), Bashir Garga, yesterday said: “Suspected insurgents attacked Bale Shuwa

in Jere Local Government Area of Borno State around 7. 30p.m. yesterday (Saturday), one disabled person was allegedly killed while 65 houses were burnt.” Garga added that 200 cows and 300 sheep and goats were carted away by the rampaging insurgents. He further disclosed that the injured victims of the attack were provided with first aid and humanitarian needs assessment by NEMA.

The agency boss equally said humanitarian needs assessment which was being conducted on the village would enable it mobilise immediate relief assistance. Meanwhile, THISDAY can report that the attack shook Maiduguri, the birthplace of Boko Haram, to its foundation as many had to temporarily relocate from the outskirts of the town to the main town to avoid being caught in the attack or the push back by the military.

Residents of Polo Jiddari area were seen last Saturday evening fleeing to the main town when the sound of gunfire between the military and the insurgents was heard all over the town. Mary Siba, a resident of GRA, told THISDAY that her sister, a resident of Polo Jiddari, had to move in to stay with her when she could not withstand the noise of the gun exchange between the military and the militants.

ASUU Insists Strike Must Continue Laleye Dipo inMinna The Federal University of Technology, Minna chapter of Academic Staff Union of Universities (ASUU) has insisted that the strike declared by the union must continue. This is in spite of appeals made to the union by prominent

Nigerians for the strike to be called off in the interest of Nigerian students. A statement by the Secretary of the union, Dr. Gbolahan Folarin, made available to all members, a copy of which was given to THISDAY yesterday, advised all its members to ignore any directive to the contrary.

“This is to remind us that the current strike declared by the union is total, comprehensive and indefinite,”the statement said. Consequently, Folarin said: “We are expected to steer clear of any form of meetings and other official gatherings under any guise throughout the period of the strike.

“For the avoidance of doubt, the gatherings include but not limited to trainings and workshops. “The union is counting on our collective resolve to stand by our resolution of November 6, 2018, (Joining the strike as declared by ASUU-NEC),” Folarin declared.

2019: Ex-EFCC Boss, Waziri, Cautions Politicians on Hate Speech,Violence As campaigns for the 2019 general election kicks off this weekend, a former Chairman of the Economic and Financial Crimes Commission (EFCC), Mrs. Farida Waziri, has charged politicians to make their agenda for Nigerians their focus rather than dwelling on issues that will further divide the people. She also urged political leaders especially those seeking elective positions to prevail on their supporters and followers to eschew violence in any form as campaigns for various elective positions begin this weekend.

Waziri who spoke while fielding questions from journalists at the sideline of an event in Victoria Island, Lagos, at the weekend, said the country needs peace and unity to have a successful 2019 elections. She said: “For me, I believe the elections will hold as scheduled. My only concern is the level of toxicity in the statements of some political leaders. This is not really good for the polity especially now that election campaigns will formally begin in a matter of days from now. So, this is the time for every patriotic political leader, most especially those aspiring

for offices and who will be going round to mobilise the people, to avoid hate speech capable of inciting their followers and supporters to violence. “We cannot afford to set the country on fire with our words because if country is set ablaze and the people are killed, there is no other Nigeria in Europe, America or Asia to call our country, and there will be no citizens to lead and govern. I think the people will be more interested in their plans, programmes and agenda than toxic words that breed violence.” The former EFCC boss stated

that the country had lost too many innocent souls to the orgy of violence in some parts of the country recently and cannot afford to waste more human capital in the name of political campaigns and elections. “It is a good thing that the recent spate of killings in some parts of the country is subsiding now, so our political leaders owe the masses the duty to maintain peace so that we will not have to witness election related bloodshed, which may have more devastating effect on the socioeconomic and political development of the country,” she added.

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El-Rufai Has No Moral Right to Accuse Others of Bigotry, Says Former CAN Scribe John Shiklam in Kaduna A former Secretary of the Kaduna State chapter of the Christian Association of Nigeria (CAN), Rev. Joseph Hayab, has declared that the state governor, Mallam Nasir el-Rufai has no moral right to call anybody a bigot. Hayab, in a statement issued yesterday in Kaduna, maintained that since el- Rufai became governor of Kaduna State, his insulting and denigrating comments have polarised the state. “Happenings in our dear Kaduna State for over three years now, especially some recent statements by the governor, have compelled

me to speak as a citizen and a stakeholder who believes in the unity and diversity of Nigeria. “It seems that Governor el-Rufai takes pleasure in making bad and inciting comments about others but unable to bear or reason that his leadership style is worse than that of those he is quick to accuse” Hayab said. He recalled that “when some Christian leaders years back complained about how he (el-Rufai), made mockery of Jesus on his Twitter handle, it seemed then that they deliberately accused him of such a recklessness for political reasons, but little did we realise that such inflammatory

comments were el-Rufai’s trademarks.” He maintained that “since el-Rufai became the governor of Kaduna State, many of his utterances have been either to insult or denigrate some individuals or group of people.” Hayab said el-Rufai’s recent tweet accusing a former governor of Anambra State and vice presidential candidate of the Peoples Democratic Party (PDP), Mr. Peter Obi, of being ‘a tribal bigot’ “clearly shows that the governor needs to go and look at himself in the mirror”.

He said although he is not from South-east, but a visit to Anambra State and meeting people on the streets of Awka and Onitsha shows that Obi as governor of Anambra State, led with an exemplary leadership style of tolerance and promoted peaceful coexistence “unlike el-Rufai who has polarised Kaduna State with divisive actions and inciting utterances. “My dear Governor el-Rufai, you cannot go to the social media every now and then making divisive statements about the population of our

dear state, only to come back to accuse other Nigerians of being bigots”. “For you to have the moral right to accuse others as bigots you need to check and re-examine yourself in the mirror to ascertain if you are not worse off. “It is public knowledge how you have threatened Shiites, SOKAPU (Southern Kaduna Peoples Union) and even the Nigerian Army aside from those who hold different political views. “Does el-Rufai assume that

the silence of many indigenes of Kaduna State and other well-meaning Nigerians on his actions is a sign of weakness or are people ignorant of the high level of polarisation that his leadership style has brought to Kaduna State? “My investigation shows that when M Obi was Governor of Anambra State, he worked peaceably with three Commissioners of Police from the North of Nigeria including Alhaji Amusa Bello, Gwary Usman and CP Leha.

Ekiti PDP Settles Rift, Reaffirms Fayose as Leader Fayemi plans recruitment of teachers Victor Ogunje in Ado Ekiti

party should be embraced and accorded their due recognition. The meeting set up two The internal crisis rocking the Peoples Democratic Party committees to look into the (PDP) in Ekiti State has finally party’s account and secretariat been resolved , with the as well as House of Assembly State Executive Council(SEC) matters. Hon. Oladimeji was reaffirming former Governor appointed to chair the committee Ayodele Fayose as the leader of on party account and secretariat the party in the state and also with Dr. TKO Aluko, Mrs Titi declaring the Chief Gboyega Owoseni and Chief Bola OluOguntuase-led executive as the Ojo as members while Hon. only recognised executive of Dare Omotosho will serve as Secretary. the party in the state. Meanwhile, the State Deputy This is coming as the state government has disclosed that Governor, Chief Bisi Egbeyemi, more teachers will be employed has disclosed that more teachers in March next year to fill will be employed in March next vacancies that exist in public year to fill vacancies that exist in public schools across the state. schools across the state. Egbeyemi also explained The caucus meeting was called consequent upon the that the Kayode Fayemi’s controversies over a meeting administration will invest more held on November 3, 2018 in agriculture to create jobs, in which the Senate Minority reduce poverty and empower Leader, Biodun Olujimi, was the citizenry. According to a statement pronounced as leader of the party and call was made for issued yesterday by his the dissolution of the state exco. Special Assistant on Media, The former Secretary of the Odunayo Ogunmola, the party, Tope Aluko, who was the Deputy Governor disclosed this arrowhead of the controversial while addressing the people of meeting, was at the Saturday’s Egbe Ekiti in Gbonyin Local Government Area while on an meeting. Apart from Senator Olujimi, inspection tour to public utilities. Egbeyemi explained that the six PDP National Assembly members - Senator representing the Fayemi administration Ekiti North, Duro Faseyi, as will take care of all Ekiti well as House of Representatives people irrespective of their members, Kehinde Agboola party affiliation in provision (Ekiti North I), Thaddeus Aina basic amenities like good roads, (Ekiti North II), Ayo Oladimeji potable water, electricity and (Ekiti Central I), Segun Adekola other infrastructure. “We will begin recruitment (Ekiti South I) and Akin Awodumila (Ekiti South II), in the third month of next year, we will employ more teachers. among other party bigwigs. In the communiqué signed The number of teachers we have by Prof. Kolapo Olusola, now is no longer sufficient. We Senator Faseyi, Hon. Kehinde will recruit more to make up Agboola, Chief Ademuwagun for the short fall of teachers as and Hon. Akinyele, the party a result of retirement.” Speaking on the government’s declared total support for the presidential candidacy of plan for Egbe Dam, Egbeyemi Alhaji Atiku Abubakar, saying disclosed that machinery has that “members and supporters been put in motion to power of the party in Ekiti State will the dam in order to get water work assiduously to win the across to people of the town 2019 general elections, most and its suburbs. “We are going round Ekiti especially the presidential poll.” The meeting declared Aluko to visit abandoned projects, a bonafide member of the party if you get to the dam here, in the State and also directed it cost us million of naira, that all members of the party we are only left with the that defected to other parties installation of a power for one reason or the other generator that would power and are willing to return to the the dam.”

IT’S NICE MEETING YOU…

L-R: President of Ethiopia, Sahle-Work Zewde; her aide; and the Executive Director, Nigerian Export Promotion Council (NEPC), Segun Awolowo, at the AfDB Africa investment forum in Johannesburg, South Africa…recently

Court to Hear Suit Challenging Legality of Ikoyi Marriage Registry Today Four LGAs fault FG’s counter affidavit Davidson Iriekpen A Federal High Court in Lagos will today begin hearing in a suit challenging the constitutionality of Ikoyi Marriage Registry and other registries being operated by the federal government through the Ministry of Interior across the country. The suit, filed before Justice Rilwan Aikawa by Eti-Osa Local Government Area of Lagos State alongside others, seeks an order to enforce an earlier court judgment delivered in 2004 which restrained the Ministry of Interior from conducting marriages. Aside Eti-Osa, other

plaintiffs in the suit are Egor Local Government Council of Edo State; Owerri Municipal Local Government Area of Imo State; and Port Harcourt City Local Government Area of Rivers State, while the two defendants representing the federal government are Minister of Interior, Abdulrahman Dambazau; and Attorney General of the Federation (AGF) and Minister of Justice, Abubakar Malami (SAN). Malami in a counter-affidavit, argued that the plaintiffs failed to disclose any cause of action to initiate and maintain the suit as constituted and conceived, and urged the court to dismiss it.

The AGF, through his lawyer, Mrs. Maimuna Shiru, is specifically contending that the provisions of the Marriage Act did not in any way confer the exclusive authority on the plaintiffs to contract, celebrate and register marriages, adding that the suit was a mere academic exercise, which raised hypothetical questions. “In this suit, the plaintiffs having not disclosed any cause of action, this honourable court should dismiss the suit as lacking in merit, malicious and vexatious,” the AGF argued. Replying, the plaintiffs through their team of lawyers

– Roger Adedimeji, Adedayo Oluyide and Olakunle Ajala, faulted the submission of the AGF, describing it as an attempt to make the court make another pronouncement on an issue that had earlier been determined by another court. According to them, “It is trite law that judgment of this honourable court is valid and binding on all the parties until set aside by the Appeal Court. We hereby urge this Honourable Court to dismiss the counter affidavit of the 2nd defendant (AGF) and grant the plaintiffs’ prayers as contained in the application.”

Nigeria Needs to Be Re-engineered Now, Says General Diya Sunday Okobi The former Chief of Army Staff, Lt. General Oladipo Diya, has lent his voice to the ongoing call for the restructuring of the country, stressing that going by the agitation for restructuring across the country, the time for it is now. The retired army general stated this recently in Lagos at the occasion to mark the 20 years remembrance anniversary of a foremost politician, Chief Victor

Olujimi Fayemi, at the Reverend Agnus Memorial Hall, Igbobi College, Lagos. Late Fayemi, who was the Balogun of Odogbolu, Ogun State, was a notable politician who played active roles in the political scene of Nigeria during the first and second republics. He died in 1998. In marking the 20 years of his demise, therefore, his children organised a memorial lecture and book launch in his honour. Speaking at the event as the

chairman, Diya commended the children of the late politician for choosing a topic bordering on the need for renegotiating and restructuring of the country at a time when agitation for it is becoming louder. According to him, “The theme of the 20 years memorial lecture, ‘Renegotiating The Nigerian Contract’, could not have come at a better time than this. There is need for all of us to be engaged in the social re-engineering of our dear country.”

Also speaking, the guest speaker, Professor Joseph Abugu, noted that the crux of Nigeria’s problems is restructuring, arguing that there cannot be peace in the country without first putting in place a political system which will allow fairness, equity and justice among all its components. The Professor of Law from the University of Lagos, therefore, called for true federalism which he said would allow the devolution of more political and economic powers to states.

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Alaghodaro: God, People, Cornerstone of Our Programmes, Says Obaseki Sunday Okobi The Edo State Governor, Mr. Godwin Obaseki, has stated that he is running a government that ensures maximum benefit for a larger number of Edo people and residents than distribute the funds to a few cronies, noting that his commitment to developing the state will not wane. The governor said this during the Alaghodaro Thanksgiving Service held at the Church of God Mission International (CGMi), Faith Arena in Benincity, adding that his emergence as a governor was God’s wish. His statement came on the heel of various endorsements by senior clergies in the state of the various reforms initiated by the obaseki-led administration in critical sectors such as education,

health care, employment creation among others. The endorsements came from the Chairman, Christian Association of Nigeria (CAN), Edo State chapter, Bishop Oriname Oyonnude Kure; President, Pentecostal Fellowship of Nigeria (PFN), Rev. Felix Omobude, and the Archbishop of Church of God Mission International, Mrs. Margaret Idahosa. According to the governor, “I am here today because He (God) made a way. God made it possible for me to be the governor of this state, and He has guided my every step along the way and in everything we have done since assumption of office.” At the thanksgiving programme which was part of activities marking the

second-year anniversary of his administration, Obaseki said: “At the start of my administration, I made a promise before God to set aside one Sunday every year to offer thanksgiving to God for what he has achieved for us in the state.” Going down memory lane, the governor recalled that he resolved a long time ago to put people of the state ahead in his policy formulation and governance. “We wanted to take governance to the people. We wanted to leave a legacy to the Edo people where they will see governance as not exclusive to

a few people,” he said. Restating his commitment to a government that prioritises the people above any other interest, he said: “As a government, we want to take government to our people; we don’t want to keep government in Government House anymore. The government truly belongs to the people, whether churches, schools or social gatherings. We want to integrate the people more into what happens in government. “So, when you talk about government, some people think it is just a few people who are on the protocol list.

Thanks to Archbishop Idahosa for recognising that everyone here is part of our cabinet. “We decided before now that we have come to change Edo State. We came up with the mantra ‘let the people lead’, and when I was campaigning across the state, I assured them that we would continue to put the people first. Whatever we do as a government, it must influence and impact the majority of our people. He expressed appreciation to the Christian Association of Nigeria (CAN) for being a pillar of support in terms of prayers and admonition as well

as drawing his administration’s attention to things that needed urgent attention. The governor said the choice of Church of God Mission as the venue for the thanksgiving was informed by the contributions made by the founder of the church, late Archbishop Benson Idahosa, to the Pentecostal movement in the country. Obaseki took the first bible reading from Psalms 31vs 21; the Deputy Governor, Philip Shaibu, took the second Bible reading from Psalm 104: vs 1, while Mrs. Betsy Obaseki took the third reading.

Akwa Ibom Govt Faults EFCC’s Probe of State’s Finances PDP committee pledges to resolve grievances of members Okon Bassey in Uyo The Akwa Ibom State Government has described the reported probe of its finances by the Economic and Financial Crimes Commission (EFCC) over alleged withdrawal of N6.5 billion from the state coffers as a desperate face saving effort by the EFCC to justify the several illegalities it has allowed itself to be used by the opposition to perpetrate against the state government which have attracted widespread condemnation within and outside the country. This is coming as the Integration and Harmonisation Committee of the Peoples Democratic Party (PDP recently constituted by the State Governor, Mr. Udom Emmanuel has affirmed commitment to ensure grievances of aggrieved members of the party in the state are addressed immediately. In a statement issued yesterday by the state Commissioner for Information, Mr. Charles Udoh, the state government told the EFCC that the constitution and laws of the Federal Republic of Nigeria authorises only the state House of Assembly and the state Auditor-General to pry into the financial dealings of a state government “For the records, the current administration has made Akwa Ibom State one of the few states; if not the only state that publishes its annual audited financial statements. This underscores the state government’s commitment to transparency, accountability and integrity in governance. “Copies of the state’s annual audited financial statements are available in the public domain. “It is ludicrous that the EFCC has allowed itself to degenerate into a tool of loopsided political mudsling and witch-hunting used by the opposition in the state to cast aspersions on the integrity of the Akwa Ibom State Government,” Udoh explained.

Udoh alleged that the EFCC has sadly condescended to regurgitating an old story in a flagrant act of impunity against existing laws of Nigeria, adding that the state government will do all within its lawful limits to protect the integrity of governance in the state. “Recall that the Akwa Ibom State Government had served notices of contempt to the EFCC and would not be dragged into a public discourse on a matter that is patently sub judice. This matter is before the Federal High Court Uyo,” statement added. Meanwhile, the Integration and Harmonisation Committee of the PDP in the state has affirmed commitment to ensure grievances of aggrieved members of the party in the state are addressed immediately. To achieve this, the Chairman of the committee, Mr. Patrick Ekpotu at a briefing in Uyo said the committee has opened various lines of communication with the aggrieved party men and women in the state for quick resolution of issues bordering on their grievances. The committee which is different from the conventional reconciliation committee, is to put the PDP intact by strengthening their faith in order to move as a unified front and indivisible family in the 2019 general elections. Members of the committee are also to heal wounds, by recognising and taking steps to persuade and assuage the feelings of disillusioned and hurting party members who were negatively impacted by party policies, actions and by perceived conscious or unconscious leadership shortcomings and bring them back in harmony with the Party spirit of accommodation for the common tasks ahead.

SIGNED AND SEALED...

Ekiti State Governor, Dr. Kayode Fayemi (left), with Executive Secretary, Universal Basic Education Commission, Dr. Hamid Bobboyi, during a meeting with the UBEC boss in Abuja...recently

Obi Urges Stakeholders to Ask Questions about Governance A former Governor of Anambra State and the Vice Presidential candidate of the Peoples Democratic Party (PDP) has described as sad, the continued reverse movement of Nigeria from better to worse rather than the other way round and called on stakeholders to ask questions about governance in the country. Obi made this stated this yesterday at the inauguration of Prof. Chike Obi Lecture Series by the Alumni of University of Nigeria, Onitsha branch. Regretting that Nigeria has failed to achieve her potentials within the dreams of her nationalists, including the likes

of Prof. Chike Obi, Obi said that the coming general election was yet another opportunity for the people of the country to vote in those with proven records in resource and human management. Reflecting on what he called the “misplacement of values”, Obi said it was sad that Nigeria had over the years bred people without respect for education and professionalism. He recalled how, when he travelled to Kenya, people he met were excited that he was coming from the county of the likes of Prof. Wole Soyinka and Prof. Chinua Achebe. “Today, due to the ascendancy

of thuggery, our people have little regard for scholarship. Today, touts in the parks earn more than professors and yet nobody is raising alarm. I have had extensive discussion with the PDP presidential candidate, Alhaji Abubakar Atiku and I am happy he is concerned about the phenomenon, which was one of the reasons he founded an University and has commmitted a lot of resources to education even as a private citizen”, Obi said. Bemoaning the degeneration of Nigeria, Obi said now was the time for Nigerians to ask a lot of questions as stakeholders

in the business of development of the country. “How many of us are aware that in 2007, Nigeria was not owing a kobo, but today we are owing over 80 billion Dollars? How many of us are aware that Nigeria has the highest number of out-of-school children? How many of us know that Nigeria today has the highest number of poor people in the world? Obi said that such questions were asked by the likes of Chike Obi at their younger ages and called on the youth of Nigeria to ask the same question and insist on being answered,” Obi added.

Delta 2019: Ex-Presidential Adviser Accuses INEC of Bias Former Presidential Adviser (Media) and House of Representatives hopeful, Ima Niboro, has accused the Independent National Electoral Commission (INEC) of bias, following the purported substitution of his name by the leadership of the All Progressives Congress (APC). This is despite the Federal High Court’s contempt notice on the National Chairman of APC, Adams Oshiomhole and Chairman of INEC, Professor Mahmood Yakubu, for disobeying

its order not to submit a list of Delta APC candidates to the electoral umpire. Niboro, a former Managing Director of News Agency of Nigeria (NAN), in a statement released in Abuja by his campaign organisation, said both the national leadership of APC and INEC acted illegally, contending that INEC’s action showed that it is not neutral. He wondered why Oshiomhole was in a hurry to submit names when a court of competent jurisdiction had already restrained

him from doing so. The APC stalwart held that Jones Erue, a factional chairman of APC in Delta State, who supervised a parallel primary with “fake delegates”, lacked constitutional powers to do so because he had been restrained from parading himself as the chairman of the party in Delta State by various courts of competent jurisdiction. Maintaining his stand that he emerged legally at the APC primaries, Niboro submitted that he was the validly nominated

candidate of the party, adding that “if any names were to be published by INEC, it must be mine.” He said the path to deepening the country’s democracy and widening APC’s reach and influence remained in ensuring that justice is served to every member. He counseled that the national leadership of APC must speedily resolve all the issues pertaining to the primaries to ensure that the chances of the party in the 2019 general elections are not narrowed.

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Tambuwal’s Name Missing on INEC List as PDP Guber Candidate in Sokoto The Independent National Electoral Commission (INEC) has released the names of aspirants for the 2019 elections in Sokoto State with the name of Governor Aminu

Tambuwal conspicuously missing on the list. Instead, the commission listed Manir Dan’iya as the governorship candidate of the Peoples Democratic Party

(PDP) in the state. Dan’iya was the immediate past Commissioner for Local Government and Community Development. For the All Progressives

Flood: Navy Takes Free Medical Services to IDPs’ Camps in Bayelsa Emmanuel Addeh in Yenagoa The Nigerian Navy yesterday moved its medical team to the camps of Internally Displaced Persons (IDPs) in Yenagoa, Bayelsa State, in a move it said was meant to enhance the relationship between the military and the people of the Niger Delta region. Aside setting up medical laboratories to check for common diseases associated with the recent torrential flooding in the area, the naval personnel also supplied drugs and food to the internally displaced persons. Some of the ailments treated by the naval team were malaria, pneumonia and flu, while it also conducted eye, dental and other tests for those who have recently lost their homes to the flood.

Speaking during the event, the Flag Officer Commanding (FOC) Central Naval Command, Rear Admiral Saidu Garba, who represented the Chief of Naval Staff, Vice Admiral Ibot-Ette Ibas, noted that the programme couldn’t have come at a better time, given the hardship the displaced persons had undergone since the incident occurred. Garba, who was accompanied by the Commander, NNS Soroh, Commodore Felix Esekhile, traditional rulers and officers from sister agencies, stressed that aside the maintenance of the maritime integrity of the country, the navy also had a responsibility to bring succour to the needy during emergencies. He recalled that the navy had immediately swung into

action when the flood started taking over people’s homes by providing boats and security for persons who were moved to the camps from the coastal areas. He added that the medical rhapsody was designed by the CNS to respond to cases of persons who are displaced, maimed or traumatised. “ Nigeria is currently witnessing several security challenges and if the security agencies are to excel in their duties, it is important to foster a good civil/military relationship. It is for this reason that the CNS has made this programme a key event” he said. “ I urge you all to cooperate with the navy to fight criminalities and all forms of insecurities in this state in particular and the country in general.

Ace Photographer, Oyemade,Turns 80 One of Nigeria’s most hardworking photographer, Cornelius

Oyemade

Oyemade, turned 80 years on Saturday, November 10, 2018. The veteran photographer, who was born in Lagos in 1938, was trained as an apprentice photographer before he became a freelance contributor. Since the 1960s, his photographs of high society parties have been published in leading newspapers and magazines.

Even on this his special day he was spotted working at the dedication of baby Ruth Isemede. Ruth who was born recently, is a miracle child and first biological child of 55 year- old Mrs. Oluwatoyin Isemede, (nee Akindele), wife of the recently retired Vicar of O u r S a v i o u r ’ s C h u rc h , Ta f a w a - B a l e w a S q u a re (TBS), Lagos, Venerable S . I g i e n I s e m ede.

IMPEACHMENT: ONDO LAWMAKERS SHUN AKEREDOLU’S PEACE MEETING “It therefore amounts to a deliberate blackmail for any person or group to insinuate that a well-cultured democrat like Adetimehin would lead thugs to attack the members of the assembly. “It is disheartening that hoodlums would invade the hallow chamber of any assembly, and harass members. No government would condone such behaviour. “We urge security agencies to carry out a thorough investigation into the matter and ensure punishment or sanction for those found culpable,” Kalejaye stated. Meanwhile, the organised labour in Ondo State has threatened to resume the suspended strike if the government fails to start payment of the salary arrears from the N20.9 billion received as the state’s share of Paris Club Loan refund by today. The threat of the organised labour was contained in a letter written to Governor Akeredolu and dated November 9, 2018.

The letter was signed by the State Chairmen of Nigeria Labour Congress (NLC), Trade Union Congress (TUC) and Joint Negotiating Council (JNC) Tayo Ogunleye; Soladoye Ekundayo and Abel Oloniyo respectively. They accused the governor of not consulting labour unions as agreed on the release of Paris club refund to the state by the federal government. The labour leaders said they would not be able to guarantee industrial peace in the state if the government failed to pay the outstanding salaries on Tuesday. “We believe that negotiation and agreement with labour was the key criteria of how the fund was released despite that the fund has been released to the state without consulting labour. “We humbly refer your Excellency to the agreement between labour and the state government before the suspension of our industrial action of June 30, 2016. “Furthermore, we want

to draw the attention of His Excellency to the recommendations of a committee on payment of six month arrears of salary to Ondo State workers set up by the state government that was submitted to your Excellency in May 2017. “We also hold that the said agreement subsists between labour and the government of Ondo State irrespective of who mounts the mantle of leadership particularly when the state Head of Service remains the signatory to both the agreement and the committee report. “In view of the above, we call on the government to please pay in line with our agreement as analysed in our letter under reference on or before 12 noon Tuesday, November 13, 2018. “Failure on the part of government to accede to our request may not be able to guarantee industrial peace by resuming our suspended strike of June 30, 2016”, the letter stated.

Congress (APC), Tambuwal’s deputy, Ahmed Aliyu Sokoto is the governorship candidate. According to the list, 34 candidates would contest for the seat but sources within the commission said the candidates are up to 50 and would be displayed this

week. On the other hand, the PDP Chairman in the state, Ibrahim Milgoma, has assured members that there is “no cause for alarm” as there is still time for substitution. Speaking on the list so far pasted, Alhaji Mohammed Musa, Sokoto State INEC

Head of Voter Education said there is still room for changes. According to him, all the political parties still have between now up till 1st of December 2018 to either substitute or make necessary arrangement in their party’s candidature.

N’ DeltaYouths Ban Presidential Candidates Without Restructuring Agenda Ernest Chinwo in Port Harcourt Youths in the Niger Delta region have warned that they would not welcome any presidential candidate who is opposed to restructuring during campaigns for the 2019 elections. The youths made the declaration in a communique issued in Bori, Rivers state by their leaders at the 23rd anniversary of the execution of rights activist, Ken Saro-Wiwa, and nine other Ogoni patriots by the federal government. The communique released yesterday was signed by President, Ijaw Youth Council, Eric Omare; President, National Youth of the Ogoni People, Matthew Dighi; and their

counterparts from Urhobo, Isoko, Akwa Ibom, Ibibio, Oron and Itsekiri. The communique noted that after the huge price the likes of Saro-Wiwa paid in the struggle for emancipation of the Niger Delta, the region continues to suffer deprivations and mass poverty under a federal leadership hegemony which deploys the massive wealth from the region to develop other parts of the country. “Niger Delta region, having exhaustively deliberated the historic struggles of our people over the years for a fair and equitable Nigeria, resolved that, “Defective federal structure and unjust laws are responsible for the underdevelopment of the region “For Nigeria to make progress, there must be holistic

political, economic, and social restructuring of the country. We demand complete resource control by the federating units of the country and payment of tax to the centre in a restructured Nigeria. “Any presidential candidate in the 2019 election that doed not believe and would not restructure Nigeria after the 2019 elections should not come to the Niger Delta region to campaign for votes,” he added. The region’s youths also called on incumbent President Mohammadu Buhari to fulfill its promises of cleaning up Ogoniland in line with UNEP’s report as well as the presidential directive on oil multinationals to relocating headquarters to operating environment.

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Buhari, APC will Be Humiliated in 2019, Says Atiku Support Group Omon-Julius Onabu in Asaba President Muhammadu Buhari and his party, All Progressives Congress (APC), would be rejected in a humiliating manner at the 2019 general election, the Delta State chapter of the Nigerians Asking For Atiku (NAFA) has said. The group also passed a vote of confidence on the Alhaji Atiku Abubakar and Peter Obi as well as the Governor Ifeanyi Okowa and Kingsley Otuaro 2019 presidential and governorship tickets respectively. In a communiqué at the end of its 3rd state executive meeting held in Asaba at weekend, the pro-PDP political pressure group claimed that President Buhari has woefully failed the honesty and integrity test on which he reportedly rode to power in 2015, saying his reelection bid was clearly heading for failure. In a communique signed by the Delta State NAFA Coordinator, Dr. Fred Latimore Oghenesivbe, and Secretary of NAFA, Prince Sunny Ajemudia, the group said;

“President Buhari and the leadership of the APC have done inestimable damage to the socio-economic fabrics of the Nigerian nation.” The economic recession experienced at the inception of Buhari administration was a pointer to “the gross inefficiency of the APC national government,” the group noted, adding that ‘’the failure of APC and Buhari to provide the positive change promised Nigerians in 2015 has ridiculed the image of the country and crumbled the global rising profile of Nigeria rated in 2014/2015 as one of the fastest growing economies in the world before Buhari assumed office.” NAFA, therefore, predicted that “the APC and its presidential candidate, Buhari, shall suffer acute humiliation and rejection in coming election, as eligible voters who have been suffering untold hardship, hunger, joblessness and frustration are already warming up to vote Atiku and Obi as the next president and vice-president of Nigeria.

“It is obvious that our country has collapsed to the absolute dismay of Nigerians, especially our teeming youths who mobilised for the fake APC ‘Change’ in 2015. Nigerians do not need soothsayers to tell them that Buhari and APC are sinking and shall be relegated to the dustbin of political history in 2019.

“NAFA Delta resolved to campaign massively in the state for Atiku-Obi and Okowa-Otuaro tickets at both presidential and governorship elections. It’s a task that must be done and its glaring that the fast decaying APC has lost respect and the confidence of Nigerians. “We frown at the illegal WAEC attestation certificate

issued to President Buhari. WAEC has no business attesting to the results of an examination it never conducted. “The unscrupulous certificate saga has further revealed the fake integrity of Buhari who, in recent times, exposed himself as a dishonest man, bereft of ideas and essential leadership qualities to point

the way forward for our dear country.” Nonetheless, the group also passed a vote of confidence on its State Coordinator, Oghenesivbe, describing him as ‘’a well-focused, proactive, humorous, trustworthy leader,” urging him to remain committed as NAFA Delta coordinator.

PDP Group Denies Existence of Governorship, Senatorial PROMOTING FERTILITY... Candidates in Borno L-R: Product Development Manager, Fertility Franchise Merck Nigeria, Mr. Eleojo Abutu; Chairman of the occasion, Dr. Ibrahim Wada; Chief Nseobong Okon-Ekong A coalition of the Peoples Democratic Party (PDP) support group in Borno State has declared at a press conference held yesterday in Lagos that the public should disregard anyone parading himself as the party’s governorship candidate and Borno Central senatorial district’s candidate. Chairman of the group, known as, Yerwa-Oodua PDP support group, Bakura Goni Makinta and its secretary, Mustapha Mustapha, insisted that the Independent National Electoral Commission (INEC) must adopt the former Minister of State for Power, Mohammed Wakil as the PDP governorship candidate, as well as, a former speaker of the state assembly, Bukar Kachallah as the PDP candidate for Borno Central senatorial election. They made the call at the end of its 26th quarterly stakeholders meeting which began on Friday and ended at the weekend in Lagos. The group, with headquarters in Ijora-Lagps, is “the coming together of hundreds of PDP members from Borno State who live in South-western states of Lagos, Ekiti, Ogun, Ondo, Osun and Oyo” They added that whereas some PDP members were making reference to 2011 in which an incumbent governor lost the Borno Central senatorial election to PDP, they ignored the fact that back in 2011, the PDP had the advantage of Mohammed Goni as its governorship candidate. The group concluded that, “the PDP in Borno State must

therefore admit that at the situation stands, APC candidates are contesting unopposed unless we do everything possible to accelerate our case and get the court to order to INEC to uphold candidates from primary elections conducted by the lawful state executives of the PDP under our legitimate state chairman, Alhaji Usman Baderi”. “Ahead of the 2019 general election, the PDP in Borno State currently has no valid candidates particularly for the governorship and Borno Central senatorial election until ongoing court appeal cases between the two factions of the party are determined in weeks to come. Notwithstanding publication of the names of Alhaji Mohammed Imam for the governorship and Senator Mohammed Abba Aji for the Borno Central senatorial election by the INEC, the two persons are not valid candidates because their primaries were conducted by an unlawful state executive committee under the so called chairmanship of Alhaji Zannah Gaddama whereas a federal high court in Maiduguri had two months ago delivered a judgment clearly recognising that the valid state executives of the PDP in Borno State are those under Alhaji Usman Baderi as state chairman.” The group said the federal high court judgment still subsists because there is no other order by any court of competent jurisdiction setting aside that federal high court judgment citing that the PDP state secretariat near Sir Kashim Shettima way in Maiduguri is under the use of Alhaji Usman Baderi while the illegal chairman, Zanna Gaddama operates from a private residence.

Consultant Gynecologist, National Hospital, Dr. Olubunmi Ladipo, and Professor of Reproductive Medicine and Development, University of Paris, Prof. Jean Noel Hugues, during the Merck fertility symposium in Abuja... yesterday KINGSLEY ADEBOYE

2019: Utomi Kicks against INEC’s Recognition of Ogboru as Guber Candidate Omon-Julius Onabu in Asaba Delta State Governorship aspirant in the last primary election under the All Progressives Congress (APC) elections, Professor Pat Utomi, has rejected the list of candidates published by the Independent National Electoral Commission (INEC) at the weekend. The published INEC list has Chief Great Ovedje Ogboru, as the (APC) governorship candidate for Delta State in the 2019 election. Utomi said the alleged breach of the rule of law by the party and INEC was an indication the party has given up on Delta State. Utomi said, “It was in view of these brazen breaches of rule of law that the US Ambassador recently raised concerns and noted that undermining the rule of law is worst offence than corruption.

“What happened in Asaba and was regarded as governorship primary by the Jones Erue faction, which produced Ogboru as candidate was a complete farce. “What happened in Asaba that day was treasonable felony that should be prosecuted, or else it becomes a precedent of contempt of the rule of law, also considering the security and international image implications of what happened, I decided to challenge it in Court. “The entire exercise and the aftermath have clearly proved that the Ogboru/Omo-Agege faction, which the Jones Erue state working committee stands for, is unpopular, not credible, without integrity and not a true representation of Delta APC. “The faction that represents the broader group of APC members is the one led by the Cyril Ogodo-led State Working Committee (SWC)

which was constitutionally elected through a credible congress and formally inaugurated by the former APC national chairman, John Odigie-Oyegun. “In deference to the authority of the national leadership, people, even me, had followed the party’s directive on the adoption of the consent judgment, before an Asaba Court rejected the authenticity of the consent list emanating from the consent judgment. Utomi said the views around the world is that criminal elements have hijacked the ongoing electoral processes as evident in the primaries of the APC and PDP in Nigeria and the Nigeria state may be considered rogue state before the international community if the products are allowed to succeed.” He called for a Global Stop List

to blacklist those abusing the rule of law, adding “they should be put on the watch list and their assets frozen”, noting that their conduct has dropped the business integrity ranking of the country. On next move should the legal option fail and Ogboru remains the INEC candidate for Delta APC, Utomi said, “I have had offers of platforms. The ADC and SDP were parties I had worked with. But the idea was to merge into one bigger umbrella of progressives. “They have been offering me platforms and had told me they have ticket waiting for me and their ideologies do not in any way violate my principle. So nothing is ruled out. I don’t necessarily need a title to do what I use to do but I want to see to the end of the whole APC process. My supporters should keep hope alive, we must rescue Delta.”

Soldiers Embark on Environmental Sanitation in Delta Market Sylvester Idowu in Delta Civilian and military relationship received a boost last weekend with the Joint Task Force (JTF) code named Operation Delta Safe carrying out an environmental exercise at Effurun market in Uvwie Local Government Area of Delta State as part of the ongoing Operation Crocodile Smiles 111. Officers and soldiers of sector One of JTF, led by the

Commanding Officer, Col. Alhassan Grema, stormed the market in the early hours to cart away mounted refuse which had been the hallmark of the market. The Army Chief, top officers including the Commanding Officer, 3 Battalion, Effurun, Major S Y Hassan, as well as the Chairman of the council, Hon. Ralp Onayaike, with his officials mopped up all refuse that littered the market in the

exercise that lasted for about five hours to the admirations of the traders and customers alike. Speaking during the exercise, Grema said the exercise was part of the ongoing Operation Crocodile Smiles 111 to foster civilian and military relationship in the area. He said Soldiers were friends of Nigerians employed to protect the territorial integrity of the country as well as the indigenes. Grema urged residents to

see the military as their friends and cooperate by availing it with relevant information about criminals to enable them live peacefully. Chairman of Uvwie Local Government, Hon. Onayake commended the JTF for the exercise noting that the gesture will solidify relationship between his people and the military. He urged youths of the area to see the military as their friend out to protect them.

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T H I S D AY ˾ MONDAY NOVEMBER 12, 2018

MONDAYSPORTS

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

Pinnick Dismisses FIFA Leaks as Hopeless, Weak Documents Duro Ikhazuagbe with agency report President of the Nigeria Football Federation (NFF), Amaju Melvin Pinnick, insisted at the weekend that the Football Leaks from persons who hacked into the official and private emails of FIFA’s top officials were nothing more than hopeless and weak documents that are not capable of doing any substantial damage to the administration of football at the global level. A report from the Football Leaks had last week alleged that FIFA reached an agreement with both Manchester City and Paris Saint-Germain when they were in breach of the Financial Fair Play regulations. The Football Leaks’ report by German newspaper Der Spiegel made the shocking revelation that FIFA had personally intervened to help PSG and Man City not get affected by the FFP restrictions, after they had clearly gone well above the limit for spending. An investigation that has been conducted by EIC Network has said that many senior FIFA officials, ex-general secretary and Gianni Infantino have been involved in this. By Pinnick who is CAF’s 1st Vice President said the NFF and the continental body remain loyal to the Gianni Infantino led FIFA and is not moved by such football leaks. “The Leaks are hopelessly weak and it does not affect the fact that Africa sticks with Gianni,” Pinnick declared. He stressed: “The entire NFF Executive Committee including myself remain avowed loyalists of Mr. Infantino and we will continue to give him our support. “For us, the hawkers of these weak leaks are thoroughbred blackmailers whose objective is to try and smear the reputation of persons who are working so

hard and diligently to reposition FIFA. Over the past three years, FIFA has embarked on a worthwhile journey to regain its integrity and credibility, and the works of the President, Mr. Gianni Infantino and the Secretary General, Ms Fatma Samoura, are outstanding in this regard. “Financially, socially and in the area of transparency, FIFA has turned the positive corner from the crisis and credibility deficits of 2015. We now have a FIFA that is truly global in outlook and pursuing the interests of all six Confederations and 211 Member Associations without any fear or favour. Some persons are definitely not happy about that,” observed the CAF top chief. Pinnick further insisted that the commitment of Mr. Infantino and the FIFA Administration to projects and programmes that impact positively on the game worldwide outweighs whatever the disgruntled leakers can put in the public sphere. “Nigeria and – I have good reason to believe – the whole of Africa is not bothered by whatever the haters have. We stick with Mr. Infantino and the current administration at FIFA. “When Mr. Infantino came into office, he opened all the windows to inclusiveness, diversity and true development across board. “Today, there are six female members of the FIFA Council and 39 women in the Council and different committees. The FIFA Administration is composed of 45% women and is headed by a glorious and highly-qualified African in Ms. Fatma Samoura. “There are plans for a 48-team FIFA World Cup that will see more of the smaller countries enjoying the limelight and financial benefits of playing at that highest level, and that could happen as early as Qatar 2022. “FIFA’s financial situation has

CHINESE SUPER LEAGUE

Mikel’s Tianjin Teda Escapes Relegation by Whiskers

r Ighalo’s Changchun Yatai not so lucky, relegated

Despite their 5-1 away loss to Guangzhou Evergrande, John Mikel Obi’s Tianjin Teda escaped relegation yesterday as only Odion Ighalo’s Changchun Yatai joined the already relegated Guizhou Hengfeng. Ighalo netted 21 goals for Changchun Yatai this season after he scored 15 in the previous campaign. Changchun Yatai ended the 30-match week series with 32 points just like Mikel’s Tianjin Teda and Chongqing Lifan. Incidentally, all the three clubs lost their last matches. But Mikel’s Tianjin Teda and Chongqing Lifan escaped relegation owing to better head-to-head records with Changchun Lifan. Prior to Sunday’s matches, the four teams above were in the relegation zone with an identical 32 points, and the losers between Changchun and Dalian would face more risks of becoming the second and last team to be relegated after Guizhou Hengfeng were already doomed with two

rounds to go. In their do-or-die match, the visiting Changchun missed their best chance in the beginning of the first half, as Dane international Lasse Vibe hit the wood. A header from Duvier Riascos, top scorer of the 2010-2011 China Super League season, broke the deadlock in the 21st minute for Dalian who made it 2-0 in the 63rd minute when Belgian Yannick Ferreira Carrasco also found the net. The 2-0 victory ensured Dalian to remain in the first tier league in China with 35 points. Also yesterday, Tianjin visited China Super League defending champions Guangzhou Evergrande and broke the deadlock first in the first half, before Guangzhou scored five goals later on for a season record of 82 goals. Chongqing lost to Guizhou 1-0 and completed the season with 32 points, the same as both Tianjin and Changchun.

improved from the extreme low of $930million during the 2015 crisis to about $6billion in the current cycle. “As a body committed to harvesting the best for its people, CAF strongly aligns with Mr. Infantino’s vision for the 48-team

World Cup, as well as the plans for a World Nations League and an expanded FIFA Club World Cup, which all means more money for development, particularly in our developing climes. “With Mr. Infantino, Ms. Samoura and the current

administration, Africa (including our country Nigeria) is guaranteed meaningful growth at a great pace, which is something some persons and groups are pretty scared of,” he further observed. Pinnick also praised FIFA’s new Forward Programme, which replaced the ‘Goal’ programme,

saying the investment of over $1 billion (a four –fold increase) worldwide between May 2016 and December 2018, which is planned to be even bigger in the 2019-2022 cycle, deserves a robust applause of the global football community.

Vice President, Prof Yemi Osinbajo (left) receiving the 19th National Sports Festival Unity Torch from Minister of Sport, Solomon Dalung…recently

FG Assures Stakeholders No Umeh Aiming to Banish Further Postponement of 19th Failure as Rainoil Tennis National Sports Festival Tournament Begins Olawale Ajimotokan in Abuja

The Federal Government has reassured sports stakeholders in the country that the 19th National Sports Festival will hold as scheduled in Abuja from December 6. There has been heightened fear that the games might be postponed again in view of lack of activities from the Federal Capital Territory, the host of the NSF. But the Permanent Secretary of the Federal Ministry of Youth and Sports Development, Adesola Olusade, who is also the Chairman of the Games’ Main Organising Committee (MOC) promised at the weekend that the festival which had suffered several postponements in the past since it was awarded to Cross River State, would not face another humiliation as all hands are on deck to showcase a memorable tournament next month. Olusade said the festival was introduced to showcase and discover talents across the country, in addition to creating sporting

friendship among Nigerian youths. He said 15,000 athletes and officials are expected in Abuja, adding they are not resting on their oars to ensure that the festival is successful. “I want to assure all participating contingents as well as sports loving Nigerians to be ready as the government will not entertain any further postponement of the festival this time around,” Olusade said. He hinted that the federal government weighed all the options including facilities and funding before moving the Festival to Abuja. He further highlighted that Sports Minister, Solomon Dalung was also interacting with all the stakeholders, including the 36 states and FCT, the sports federations, members of both the Main Organising Committee and Local Organising Committee and NSF marketing and management company, the Greenfield Assets, on how to make the festival a worthwhile event.

The Main Draw of the second edition of the Rainoil Open Tennis Championship will serve off this morning at the Tennis Section of Ikoyi Club 1938 with focus on Joseph Umeh who is aiming to end second fiddle roles. Umeh is the top player on the Nigeria Tennis Federation (NTF) ranking but has been unable to translate this to silverware. Five times the tough-hitting player has been in finals of national tournaments but has lost all. Last year, he lost in the final of the maiden edition of this Rainoil Tournament to Henry Atseye to make it look as if a jinx exists for him. Speaking ahead of today’s first round games Umeh insisted he is out to end his bad run. “I’m looking forward to end my bad run, I have been on top of my game and I just need to push hard and I believe this is the time for me to win a national tournament.” However, it is not only Umeh that is eyeing the N500,000 star prize money on offer by Rainoil. Number 2 seed, Emmanuel Sylvester wants an improvement over the second round he got knocked out of this tournament last year by Chima Michael. “I was disappointed with my outing last year may be because I’m just back from injury but this year I’m in a very good shape and I look forward to

win this tournament because I would be very happy to win this tournament because Rainoil are my sponsor,” declared the 22-year-old, who as a teenager won the inaugural Rainoil Top-Eight Masters, which metamorphosed to the current tournament. Meanwhile, some of the last men’s singles qualifiers played yesterday include; Kareem Badmus defeated Usman Kushimo 6-1, 6-1 to earn a spot in the main draw. Those who are already through to the Main Draw include; John Dickson, Matthew Abamu, Franklin Ronald, Peter Lawal, David Dawarire, Pius Lawrence, Michael Ambrose, Ismaila Adeshin, Nurudeen Adebisi and Olalekan Bello. In the women’s singles, defending Champion, Sarah Adegoke will have to be on the look out for Blessing Samuel who is after her crown. Both players are the top two seeds. Interestingly, some of the junior players who are expected to make waves include, Serena Teluwo, Oiza Yakubu, and Olamide Aluko. These kids who are the future of Nigeria’s female tennis have already proved their worth on the international scene, playing the ITF junior tournaments in Togo early this year. They made their ways into the Main Draw starting this morning.

T H I S D AY ˾ MONDAY NOVEMBER 12, 2018

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MONDAYSPORTS

Real Betis Inflicts First League Home Defeat in Two on Barca Barcelona lost a home league match for the first time in two years as the Spanish champions were beaten 4-3 by Real Betis’s expert display at the Nou Camp. Junior Firpo gave Betis

a deserved lead after 20 minutes, before veteran Joaquin made it two before the break. Lionel Messi scored a penalty in reply but a Marc-Andre ter Stegen error saw Giovani lo Celso

add a third for Betis. Arturo Vidal’s tap-in gave Barca hope, but Sergio Canales got the away side’s fourth, before a Messi consolation. Ernesto Valverde’s side remain at the top of La

Liga, one point ahead of Atletico Madrid and Alaves. Fourth-placed Espanyol can move level on points with victory at Sevilla later on Sunday. The hosts had Ivan Rakitic sent off for a

second yellow card with eight minutes left when trailing 3-2 and were powerless to match a determined and clinical Betis side, despite Messi’s two goals on his return from a fractured arm suffered three weeks ago. Barca’s previous home league defeat came on 10 September 2016, when they lost 2-1 to Alaves.

Betis had lost on their past eight visits to the Nou Camp and had not won there for more than 20 years. But they came away with three points that lifts them up to 12th in the table courtesy of an impressive display built on adventurous counterattacking and smart play in possession.

Premiership: City Returns to Top with Derby Win against United

r Mkhitaryan stretches Arsenal’s unbeaten run to 16 games

Lionel Messi (left) walking away from the camp Nou main-bowl a sad man after Barcelona lost 3-4 to Real Betis

LaLiga: Real Madrid Beats Celta to Narrow Barca Lead Real Madrid last night narrowed the gap on La Liga leaders Barcelona to four points with a hard-fought victory at Celta Vigo. Karim Benzema put Madrid ahead with an expert finish from Luka Modric’s pass. After the break Benzema’s shot hit the post and went in

off defender Gustavo Cabral to put Real 2-0 up but Celta’s Hugo Mallo scored with a smart volley. Sergio Ramos chipped in a penalty and Dani Ceballos smashed home in stoppage time after Cabral was sent off, with Brais Mendez adding a late consolation.

It was Madrid’s fourth straight win under caretaker manager Santiago Solari, who was put in charge after Julen Lopetegui was sacked the day after a 5-1 defeat at Barcelona on 28 October. Champions Barca had earlier on Sunday lost 4-3 at home to an impressive Real Betis side, and

this Madrid victory brings the European champions back into the Spanish title race. La Liga rules say temporary managers can only be in place for 14 days, and it is expected Argentine former Madrid winger Solari, 42, will be made permanent manager today.

Cavani’s Hat-trick for PSG Inflict More Misery on Thierry Henry Edinson Cavani inflicted more misery on Monaco and their manager Thierry Henry last night with a hat-trick to send Paris St-Germain 13 points clear in Ligue 1. Henry’s struggling side were totally outclassed by the French champions as Cavani scored the

first three goals. Neymar added the fourth from the penalty spot as Monaco suffered a second successive 4-0 defeat. Henry’s side have won just one league game all season and are second bottom - five points from safety. Cavani opened the scoring from

PSG’s first meaningful attack - the Uruguay forward tapping home Neymar’s pass - before doubling the lead with another close-range finish. Both goals were awarded after a short delay while they were reviewed by the Video Assistant Referee (VAR).

Former Napoli player Cavani completed his hat-trick after half-time before Neymar’s penalty - after Kylian Mbappe was fouled by Djibril Sidibe - completed the rout. It could have been worse for Monaco but Julian Draxler and Mbappe had efforts disallowed.

Manchester City returned to the Premier League summit with a convincing 3-1 derby victory over Manchester United at Etihad Stadium yesterday even as Arsenal maintained its unbeaten run this season. Elsewhere in the Premiership, substitute Henrikh Mkhitaryan scored a late equaliser to stretch Arsenal’s unbeaten run to 16 matches and deny Wolverhampton Wanderers a famous win at the Emirates. The fifth-placed Gunners are three points behind fourthplaced Tottenham while Wolves remain 11th in the table. Pep Guardiola’s Manchester City were seeking the result they needed to go back to the top of the table after Liverpool’s lunchtime win over Fulham at Anfield - and it was rarely in doubt after David Silva bundled home an early goal to give them a narrow interval advantage. City got the second goal their superiority deserved with Sergio Aguero’s rasping, rising finish past David de Gea three minutes into the second half following an exchange of passes with Riyad Mahrez. Jose Mourinho’s side, without injured Paul Pogba, barely mounted a serious threat but were given hope of earning an unlikely point just before the hour when Romelu Lukaku was hauled down by Ederson seconds after he had come on as substitute. Anthony Martial sent the Brazilian the wrong way from the spot. It briefly revived memories of last season’s dramatic derby here when United came from two goals down to win, but City never looked like losing control and wrapped up the win two minutes from time when substitute Ilkay Gundogan took advantage of static United

defending to beat De Gea from close range following a 44-pass move. Manchester City’s answer to Liverpool briefly returning to the head of the Premier League table was emphatic as this win was a comfortable as the scoreline suggests, arguably even more so. Liverpool and Chelsea remain unbeaten in the Premier League, although Maurizio Sarri’s side slipped as they were held to a 0-0 draw by Everton. City are two points clear of Liverpool but have a goal difference of +31 as opposed to +18 and this was another of their most difficult fixtures negotiated with their usual flair. At the Emirates Stadium, Mkhitaryan denied Wolverhampton Wanderers a famous win. Ivan Cavaleiro’s close-range finish looked like securing the Black Country club their most eye-catching victory since returning to the Premier League this season. The visitors pounced on an error by Granit Xhaka, Cavaleiro and Raul Jiminez exchanging passes before the former tapped home. Lucas Torreira and Hector Bellerin both went close to equalising while leading scorer Pierre-Emerick Aubameyang hit the post before Mkhitaryan’s 86th minute cross went straight past Rui Patricio. In a thrilling contest, Wolves almost snatched it in stoppage time when 18-year-old substitute Morgan Gibbs-White hit the bar. Alex Iwobi, starting a league game for the first time since 28 October, lasted until half-time before he was replaced while Mesut Ozil was also taken off as under-par Arsenal struggled against their vibrant opponents.

Gombe Bulls, Kwara Falcons Drag NBBF to Court

Marketing Manager, Promasidor Nigeria Limited, Mr. Abiodun Ayodeji, with some of the winners of the Lagos edition of the 2018 Loya Milk Swim Meet, a secondary school swimming competition sponsored by Loya Milk, held in Lekki…recently

The Gombe Bulls Basketball Club and Kwara Falcons Basketball Club have dragged the Nigeria Basketball Federation (NBBF) board led by Musa Kida to an Abuja High Court over its plan to organise an ‘abridged’ Premier Basketball League for the purpose of selecting the country’s representatives in the 2018/2019 Africa Basketball League, the FIBA Africa Champion Clubs tournament. In the suit No. FHC/ CS/1317/2018 filed on November 6, 2018 on behalf of the managements of Gombe Basketball Association and Kwara Basketball Associations respectively,

the clubs are seeking an Order of Interlocutory Injunction prohibiting and/ or restraining the Musa Kidaled NBBF from conducting any fresh Premier Basketball League for the “purposes of selecting men’s representatives of the 2018/2019 Africa Basketball League pending the determination of the substantive suit”. They argued that the 2018 Kwese Premier Basketball League which is the recognised avenue for such selection, has been concluded and Gombe Bulls as champions and Kwara Falcons as runners-up qualified to represent the country at the continental championship.

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MONDAYSPORTS

Zenith Bank Hails NFF on Future Eagles’ Progress Banking giants, Zenith International Bank PLC has heaped encomiums on the Nigeria Football Federation (NFF) for the progress the federation has made with the cadet teams since the signing of the partnership agreement between both establishments a couple of years ago. The partnership birthed the Future Eagles’ U13/ U15 project, on the wings of the NFF/Zenith Bank Future Eagles Championships. The heartwarming words of praise were showered on the NFF leadership by the GMD/ CEO of Zenith Bank PLC, Mr. Peter Amangbo when the NFF, led by the its President, Mr. Amaju Melvin Pinnick, presented the U15 National Team, Future Eagles, to its partners at Zenith International Bank PLC headquarters in Lagos. Speaking at the event, Amangbo expressed delight at the work done so far by the Federation with regards to the Future Eagles, as well as the talents already produced through the project, whilst also encouraging the lads to maintain discipline and focus on their chosen careers. “I feel delighted to have you all here. I want to thank the NFF for the great job they’ve done in the last few years. We have never had it this good. Everyone recognises the revolution that has taken place in Nigerian football. From today, you are now members of the Zenith family. “Times are changing and you must start the right way. You all have a great future ahead of you. Football has gone to another level. For you to achieve your full potential, the most important thing is you must be very disciplined. If there’s no discipline and you don’t listen to your coaches, you

will waste your talents. “Those making waves today started like you, but to accomplish their goal, they maintained discipline. Have it at the back of your minds to avoid taking substances, smoking and drinking excessively as these are capable of destroying careers,” Amangbo said. On his part, NFF President Pinnick commended Zenith Bank for being the first sponsor that came on board in his first year as President of the NFF, as he observed that the relationship has continued to blossom over the years. He also joined in appealing to the top management of the leading financial institution to consider a proposal by Ms. Aisha Falode for the integration of a Future Falcons U13/U15 project to fish out talented girl footballers. “NFF/Zenith Future Eagles’ program has helped achieve our dream when we were first elected four years ago. We thank the Chairman of Zenith Bank, Mr. Jim Ovia and the Board and Management. Without your support, we would not have been able to discover and raise what is now widely described as the future of Nigerian football. “I would like to support the call by Ms. Falode for Zenith Bank to also invest in women football by adding a Future Falcons Project because it will help in promoting the game from the cradle with the girl child. “The Super Falcons, by the way, are the most successful national team in the country, having won the Africa Women Cup of Nations a record eight times,” Pinnick stated. Amangbo assured that the bank will look into the proposal. Earlier, 1st Vice President of the NFF, Seyi Akinwunmi revealed that the composition of the Future Eagles that came

Super Falcons Set to Hit Ghana for AWCON Title Defence Cup holders, Super Falcons of Nigeria will on Wednesday this week fly into the Ghanaian capital, Accra before making their way to Cape Coast ahead of the commencement of the 11th Women Africa Cup of Nations finals. The Falcons have now spent six days at the world-renowned football facility, Sol Beni Sports Centre (owned by ASEC Mimosas Football Club) in Abidjan, following a three-week preparatory programme at the Jubilee Chalets and Resort in Epe, Lagos State. Eight-time champions Nigeria head Group B of the continental showpiece and will contend with the Banyana Banyana of South Africa, Chipolopolo Queens of Zambia and an Equatorial Guinea team restored into the

tournament only few days following a CAF Appeal panel ruling. Only Nigeria and Equatorial Guinea have been successful at the 20-year old continental fiesta, with the latter emerging winners on the only two previous occasions that Nigeria did not triumph. While the Guineans have won on the only two occasions they hosted the tournament (2008 and 2012), the Super Falcons have established Africa as their footstool, winning at home in 1998, 2002 and 2006, winning in South Africa in 2000, 2004 and 2010, winning in Namibia in 2014 and winning in Cameroon in 2016. Hosts Ghana, Algeria, Mali and Cameroon will battle things out in Group A in Accra.

for the courtesy visit included a Future Eagles’ product of the 2015 set, Wale Ali who has now progressed to the U20 Boys National Team, Flying Eagles, and members of the Future

Eagles who were part of the WAFU B Nations Cup triumph in Niger Republic and those in the silver medal-winning Nigeria team to the 2nd African Youth Games in Algeria earlier in the

year. Also in attendance with the members of the Future Eagles team at the Zenith Bank headquarters were NFF Executive Committee

members Aisha Falode and Ganiyu Majekodunmi. Others include, Coach Danladi Nasidi, Mr. Adewale Adeyinka (Team Administrator), Mr. Dotun Coker, Coach Siji Lagunju (Assistant

The leadership of the Nigeria Football Federation (NFF) and Management of Zenith International Bank in group photograph with the Nigeria Under-15 boys, the Future Eagles… on Friday

Talents Delight Officials as 2018 Loya Milk Swim Meet Ends in Lagos The Lagos edition of the Loya Milk Secondary School Swimming Competition season three held last weekend and it recorded a perfect completion rate, an accomplishment which officials described as a pointer to the enormous potential of Nigeria in the sport. All the participants in the six-event competition, hosted by Children’s International School, Lekki, completed the events without the assistance of lifeguards. David Oyekan, a swimmer and coach at Meadow Hall School, said the professionalism and speed exhibited by the contestants was rare among amateurs of their age. He added that they would do much better if given more attention and training. Ten schools competed for a total of 18 medals in 25 metres freestyle for boys and girls, 50 metres freestyle for boys and girls, 100 metres relay for boys and girls. The participating schools include American

International School, British International School, Children’s International School and Chrisland Schools. Others were Edgewood College, Emerald High School, Grange School, Greenspring School, Straightgate College and Meadow Hall School. British International won two gold, one silver and two bronze medals; while Children’s International won two gold and two silver medals. Edgewood, Greenspring, Grange, Chrisland, American International and Meadow Hall also featured on the medal chart. Reviewing the three-year old competition, Marketing Manager Promasidor, Biodun Ayodeji said the company would evaluate the initiative with a view to identifying areas of improvement. He assured that the company was committed to sustaining the competition. Ayodeji stated: “We are very consistent in our strategies. So, we are committed to the success

of the initiative. We started this, two years ago with a single location. We extended to two locations last year, and this year we are doing four. “We may maintain the number of locations next year while reviewing the prizes upwardly. We may also do two instead of one competition in some locations to give more schools the opportunity to participate. We will consider other options such as partnering relevant clubs,” he further said. Ayodeji explained that Loya Milk is fortified with 50 percent extra calcium to help consumers achieve optimum physical wellbeing and build stronger bones, tougher teeth and healthy heart. He added: “The interest of Loya Milk in swimming resonates with its unique brand identity. Loya Milk’s unique HiCal fortification makes it the choice milk for individuals who desire to live healthy. The Secretary General of the Nigeria Aquatics Federation, Sani Mohammed

had disclosed during the Abuja competition that the organisation would partner Loya Milk to identify and nurture young swimmers. Mohammed, who lauded the brand for the initiative and called on other corporate entities to emulate the gesture, said he had selected some young athletes from the Abuja edition he would present to the Federal Ministry of Sports and Youth Development for grooming and inclusion in the national team for future competitions. Loya Milk Swim Meet was first organised for 10 schools in Lagos in 2016. Season 2 held in both Lagos and Port Harcourt, the Rivers State capital, while the just-concluded season 3 was hosted in Ibadan, Port Harcourt, Abuja and Lagos. In addition to the secondary school swimming competition, Promasidor motivates Nigerian youths through Cowbellpedia Mathematics TV Show and Promasidor Harness Your Dream, a career guidance workshop for public secondary schools.

80 Golfers to Participate in 7th Annual Southern Sun Ikoyi Golf Tourney In line with its tradition of fostering tourism through sports within its business community, The 2018 Annual Southern Sun Ikoyi Golf Tournament has been scheduled to tee off on November 16 at the lush green of Lakowe Lakes and Golf course in Lagos.

According to the organisers of the event, over 80 golfers nominated by corporate sponsors representing various sectors of the economy are expected to feature at this 7th edition. The golf tournament is considered one of the strategic plans developed by the luxury hotel to

reinforce its commitment to the promotion of sporting activities, relaxation and networking within its community. Speaking at a media briefing ahead of the tourney, General Manager, Southern Sun Ikoyi, Mark Loxley, used the opportunity to appreciate the traditional

sponsors of the tournament for their support while recognizing new partners. He reiterated that preparations are in top gear to ensure that partners and stakeholders of the Southern Sun Ikoyi brand have a truly memorable and fun day at this year’s tournament.

Monday November 12, 2018

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Price: N250

MISSILE PDP to El-Rufai

“Instead of fixating on our party and the soaring popularity of our presidential candidate, we expect el-Rufai to show remorse that he was part of those who brought in the Buhari administration, which has inflicted so much pain on Nigerians in the last three and half years” – The Peoples Democratic Party (PDP) advising the Kaduna State Governor, Nasir el-Rufai to face the myriad of problems he has caused in the state for which the people have resolved to vote him out and stop his attempt to further foul the nation’s political space.

ALEXOTTI OUTSIDE THE BOX

alex.otti@thisdaylive.com

Leadership, Transparency and Accountability I was privileged to speak at the annual conference of the Institute of Chartered Secretaries and Administrators of Nigeria, (ICSAN), Port Harcourt on October 19, 2018. I have taken liberty to share excerpts of my presentation with readers today.

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eadership is arguably the most popular subject of discuss at various conferences and seminars around the world. It is generally agreed that everything falls or prospers on leadership. The usually fully subscribed events on leadership around the world and especially in Nigeria show that as a people, we are in search of leadership given the outcomes of our national life. The pain for me often lies in this consideration: that citizens of nations that are clearly far ahead of us in all development indices seek leadership. The question therefore is: do we seek the same leadership they seek? What kind of leadership do we really seek, relative to them when we jointly attend such conferences? I remember a particular challenging comment from a speaker in one of the seminars I attended, where the speaker tried to explain why the West paid little attention to Africa in their foreign policies. He said on an economic and productivity basis, if Africa (and by the way that includes the “giant” of Africa) is taken out of the global economic map, the world will lose nothing materially. As leaders in Nigeria, we are poor by our own making and for lack of leadership we have impoverished ourselves. One of the challenges this subject faces in Nigeria is its immediate association with “titles and positions” like the President of the Federal Republic or the Governor of a state. Indeed, we will not be wrong to think this way, after all, they take decisions that tend to rob off on us either for good or for bad. In our case, it would appear that a lot of cluelessness does exist among us when it comes to our form of leadership. We set out to improve the ease of doing business in Nigeria, after several years of independence. We have managed to achieve No.145 out of 190 countries, a drop from the last report card. The idea that we supply other countries more stable electricity than we can give ourselves, or how we allow our ports in Port Harcourt, Calabar, Warri and the like to run aground and Lagos is congested, or how we fail to plan out our infrastructure like the roads in Apapa or the National rail network just shows the quality of our stuff. How difficult can it be to build the Second Niger Bridge or set out to dredge the Niger River. We tend to set goals, which we are clearly unable to meet, or never intend to achieve. How do we explain Ajaokuta steel, Aladja Steel, The Aluminum Smelter Company, Nigerian Airways, the perpetual gas flare in the midst of insufficient gas supply, the deceitful argument around petroleum product subsidy versus cost under-recovery? One could go on and on. One must confess that putting the blame successfully on others is psychologically comforting, but it is meaningless in its contribution to progress. One of the lessons we learnt quickly as children is to exclude ourselves from blame. When our mothers say, who broke the glass we quickly say “not me” as if your lack of blame shields you from the impact of the loss of the broken glass. That is okay as a child but certainly not characteristic of leadership. Our Lord did advise us that there is a pathway to leadership, which we often miss; and it is our evaluation of the role and responsibility we have in the outcomes and

President Muhammadu Buhari

burden we bear. He said, figure out the log in your eyes first before you are able to help others deal with the speck in theirs. In other words, the fact that you can see the speck in your brother’s eyes is evident that you are not busy dealing with the log in yours. The implication is that our own personal leadership challenges represents a bigger (log) challenge than those we seem to see in others. If we are able to provide leadership in our own spaces, Nigeria will be a better place. The idea that the responsibility for your circumstance is external to you only makes you fail by removing from you the power and responsibility to do something about it. Leadership is responsibility, in this case, irresponsibility should be defined as a person giving up his right to influence his circumstance by putting the blame completely outside himself. This is the story of Nigeria and its leaders. Even though as a nation we have failed so much, some other leaders of the past or even the colonial governments or some other person but us is to blame. When things go right, we take the glory without acknowledging all those that made it possible—winners take all. Leadership is the process of influencing people to achieve an objective, which should be common to both the led and the leader. Actions that do not forge common objective choke the leadership ecosystem and do not encourage accountability and transparency. The objective so set is achieved through the commitment and willingness of both the leader and the led. Willingness is a very important part of being legitimately led, as without a collective commitment and willingness, no objective can be met. The challenge with leadership, however, is that both followers and leaders are not homogenous or naturally aligned, alignment is crucial and must be cultivated. It is not a natural occurrence. Any field left uncultivated yields an undesirable outcome (weeds), therefore leaders must learn to cultivate a common objective, passion, mutual respect and develop the systems that strengthen a focus on common objectives. Being more conscious of our differences than our similarities has never been so strong in our nation and unless we cultivate the value of our togetherness, our decision-making processes will be laced with divisive biases that slow down progress or promote inertia. How does a young man who has been refused admission from a higher institution as a result of his ethnicity forge a common ground with another who got the admission

with lower scores. The way we implement the federal character punishes legitimate aspiration rather than encourage integration. Let only performance discriminate among citizens because it holds within her the window of aspiration and endeavor. Of what use is trying to achieve what only a state of origin, religion or ethnicity can give if I am excluded on that basis seeing I cannot aspire to change my ethnicity, or state of origin. It is our view that leadership is a paradigm that exists in a maturity continuum that begins with a state or mentality of dependence progressing to a state of interdependence. When people are dependent in their mindset, they exhibit traits similar to that of children, being a child in this case has nothing to do with age or the “not too young to run” movement. Nigerian structures largely run on this paradigm. Dependence paradigm speaks in the following way: “You should take care of me, you did not come through for me, I blame you for my problem. Give me my share of the national cake, (without playing any role in baking it). This road is a federal road, I cannot fix it; (even though your people suffer the most from its lack of repair). Increase our revenue allocation so we can pay salaries (without taking any meaningful step to increase IGR).” In this state, people hold on to things and are governed by fear of the possible outcomes of losing their object of dependence, making it difficult to even pass the Petroleum Industry Bill. They will never support true federalism or state policing as they believe centralization and control is the source of their relevance and power. They hold themselves responsible for producing nothing. Even if they drive the entire people from their state away through bad policies, they suffer nothing as their federal allocation is unconnected to what they do or do not do. They mostly complain about the problems created by others or the problem of the country. The fact is, if you cannot live above the problem of a people, you cannot lift them out of it. The next stage is that of independence. This is characterized by a can-do spirit. While it is progress in the leadership maturity continuum, it nevertheless has disadvantages that frustrates cooperation. They have shown some success though. Here, you are your own man and see no need to negotiate or cooperate. You are proactive and are driven by your purpose and objective only. You have no room for others who hold a different view from yours. Leaders in this space often encounter a leadership bubble as they only hear what they want to hear. Their view of the world is fed by what the cabal around them say and contrary views must be coming from their opponents. Any channel of communication unsupportive of their actions is screened out. Their voice says listen to me, “understand my view because I understand what is going on”. They always want to win and do not recognize the concept of a wider stakeholder group needing consideration. They usually lead through intimidating others and because they hold the view that they are only accountable to themselves, the rule of law is only valid as long as it supports their course. When they fall, it is usually lonely as they have no support structure, they feel betrayed and most time end up as bitter. Given their disposition, they will seek leadership opportunity not to serve but to prove a point or sometimes settle old scores. The true place of leadership in the continuum

is the state of interdependence. Where the concept of leadership recognizes that other relationships and stakeholders are required for success. The language of interdependence will therefore be, “we can do it”, “we can cooperate and combine our talent for greater good”, “we can create something greater together”. This state is not afraid of employing the best possible talent, anywhere they can be found. This state, because it acknowledges other stakeholders knows it must be accountable and transparent. Leadership requires trust, and commitment to the objective, both of which are unviable ideas in an atmosphere lacking in transparency and accountability. Without trust, effective communication is difficult as conspiracy theories are built around every happenstance. This is why the freedom of information bill will prove one of the most useful tools in unlocking the capacity of our people in the coming years. Opaqueness are the tools of dictators, who think to lead they must keep the led in the dark. They are incapable of standing up to be challenged or giving account to the public of their stewardship. Interdependent leaders think win-win and seek to be sure they understand the perspective of different stakeholders making them keen listeners. Businesses in the private sector invest a whole lot into being transparent and are naturally accountable due to international standards of reporting. It is the reason the biggest corporations in the world are usually publicly quoted forcing leadership with accountability and transparency. This is the same also with the biggest economies in the world. The point is that every nation has leaders impacting their communities, some of them in the private sector leading through enterprise and some others in non-governmental and non-profit organizations and we need to acknowledge them as people who have risen above the challenges of the country to lead people out of despair. People like Abisoye Ajayi Akinfolarin, one of the top ten CNN Heroes, who helps disadvantaged girls change their communities by teaching them coding. We celebrate her and hope she gets enough votes from Nigeria especially and around the world to make her win and do more. Irrespective of the votes, she remains a winner by my evaluation. This is an opportunity to use our massive population for a good cause. We seek to have a critical mass of leaders that can bring real change in Nigeria. Leadership with accountability and transparency has also changed cities. Consider the case of Bogota, Columbia when in 1998 Enrique Penalosa took over. Bogota as a city faced similar challenges like Nigeria. They were experiencing economic recession, low citizen engagement, deep crisis in infrastructure and so on. They were able to transform through a frame work of transparency and accountability with a leader like Penalosa. They doubled their income, improved materially on their infrastructure deficit and grew their capex spend from 30% of total budget to 75%. Truly, amazing results can be achieved if all we did as a people and a government was to courageously pursue leadership with responsibility, accountability and transparency. Unfortunately, not all who are leaders have the characteristics or maturity required for the leadership state of interdependence. Just like Brian Tracy would say, “Leaders Think And Talk About The Solutions. Followers Think And Talk About The Problems.”

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