WEDNESDAY 28TH NOVEMBER 2018

Buhari Takes Fight to Boko Haram, Visits Troops in Borno N’ Assembly investigates defence spending Suspects fraud in arms purchase and deployment Iyobosa Uwugiaren, Kingsley Nwezeh and Shola Oyeyipo in Abuja In an apparent effort to boost the morale of soldiers fighting Boko Haram in the North-east,

President Muhammadu Buhari yesterday called off his fiveday casual leave as a mark of respect for the victims of the insurgents’ attacks across the battlefields in the region.

He is, according to

presidency sources, also scheduled to visit the troops at the theatre of war shortly.

Buhari had planned to spend the casual leave at his home country, Daura, Katsina State from November

27 to December 2. He had earlier cancelled his official trip to Benin City, the Edo State capital, where he was originally billed to inaugurate the Edo-Azura Power Plant and grace the Chief of

Army Staff (COAS) Annual Conference.

Presidency sources said the cancellation of the trips would also enable the president to continue his on-going meetings and consultations with relevant

security and community intelligence personnel aimed at addressing the worsening security challenges.

Buhari is expected to declare Continued on page 8

Endangered ISPs Lament High Interest Rate, Dwindling Business… Page 10 Wednesday 28 November, 2018 Vol 23. No 8624. Price: N250

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Darkness Looms as N710bn Power Supply Fund Draws Down Chineme Okafor and Amaka Mozie in Abuja

A CHEERFUL GIVER...

L-R: Former Chairman, Zenith Bank, Mr. Steve Omojafor; former First Lady, Lagos State, Mrs. Doja Otedola; her son and Chairman, Forte Oil Plc, Mr. Femi Otedola; and Catholic Archbishop of Lagos, Archbishop Adewale Martins, at the laying of foundation of the Faculty of Engineering building, Augustine University, Epe, Lagos State, donated by Otedola... yesterday

Electricity generation companies (Gencos) in Nigeria’s power sector yesterday warned that the prevailing nationwide power supply situation may decline significantly from December as the N701.9 billion payment assurance scheme initiated by the federal government through the Central Bank of Nigeria (CBN) and the Nigerian Bulk Electricity Trading Plc (NBET), is drawn down.

The fund will be drawn down before 2019 that it is originally designed to last.

The fund was put in place Continued on page 8

Again, Concerns Mount over Role of Police in Akwa Ibom Gov storms assembly to avert his removal

Okon Bassey in Uyo and Udora Orizu in Abuja The role of the police in the resolution of political disputes was again called to question yesterday as the crisis in the House of Assembly of Akwa Ibom State worsened with

five members, whose seat had been declared vacant, gaining access to the assembly complex reportedly with the aid of the police in an alleged attempt to begin a removal proceeding against Governor Udom Emmanuel.

The seats of the five

lawmakers, Mr. Nse Ntuen (Essien Udim State Constituency); Mr. Otobong Ndem (Mkpat Enin State Constituency); Mr. Victor Udofia (Ikono State Constituency); Mr. Gabriel Toby (Etim Ekpo/ Ika State Constituency) and

Mr. Idongesit Ituen, were recently declared vacant by the Speaker, Mr. Onofiok Luke, after they defected from the ruling Peoples Democratic Party (PDP) to the main opposition All Progressives Congress (APC).

Since then, there had been

tension as the five members, with the aid of security agencies, particularly the police, had tried to gain control of the assembly. Yesterday, they eventually made it to the chambers and attempted to hold proceedings.

The other members, led

by Luke, who would later be joined by Emmanuel, soon stormed the assembly premises and overwhelmed the opposing legislators.

After regaining control of the assembly complex, the Continued on page 10

Finally, Okorocha's Aides, Imo Assembly Members Defect to DPP… Page 8

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Finally, Okorocha’s Aides, Imo Assembly Members Defect to DPP Amby Uneze in Owerri At last, Imo State Governor, Chief Rochas Okorocha, yesterday announced the movement of his son-in-law, Mr. Uche Nwosu, other aides and members of the State House of Assembly from the All Progressives Congress (APC) to the Democratic People's Party (DPP).

Okorocha, who spoke with journalists at the Government House, Owerri, however, promised to work for the victory of Nwosu as the next governor of the state

in 2019 even as he remained in the APC as its candidate for Orlu Senatorial District.

He also accused the APC governorship candidate in the state, Senator Hope Uzodinma, of duping the deputy governor, Mr. Eze Madumere, former Secretary to the State Government, Mr. George Eche, and his predecessor, Mr. Jude Ejiogu, from the governorship ticket.

According to him, what happened in APC primaries in many states presents interesting scenario as the party he said is known for

justice, equity and fairness has been dented by the National Chairman, Mr. Adams Oshiomhole.

He said, "What happened in Imo was a clear case of injustice, where Uche Nwosu won the primary and was robbed of the ticket. This injustice must be addressed.

However, in spite of the fact that my aides are leaving the party, I am still a member of APC and will not leave the party.

"I tried to persuade them not to leave, but they have made up their minds. I have

done what I can to make them remain in the party, they disobeyed me. I don't have any moral justification to stop them.

"President Buhari is not behind the injustice done by the party in the state but Oshiomhole is solely responsible for all the injustice meted to my people in Imo State.

For me, I am still a member of APC. Buhari still remains my candidate and I will support him."

Okorocha maintained that Imo people did not play

politics of party but politics of individual, revealing that the people's interest in APC was by his own making.

He contended that among the various governorship candidates in the state, his son-in-law, Nwosu, remained the best and vowed to support him to fulfill his governorship ambition.

The governor stated that most of his aides who were presumed to have betrayed him never did so, but were given fake hopes, adding, "They were deceived into believing an illusion. This is

a scam played out by Senator Hope Uzodinma after all the efforts they put up in making Uzodinma the governorship candidate; he now realized that they cannot be trusted with any position, including that of his running mate.

This is the game behind the game."

Nwosu had contested the APC governorship primary election in the state but lost out to Uzodinma, sparking off a wave of protest from Okorocha that has culminated in yesterday’s defection of his associates.

three lawmakers, Mohammed Sani Abdu, Isaac Gyang and Hassan Saleh, however, urged the house to investigate the funding for the military’s fight against the insurgency.

The Speaker, Hon. Yakubu Dogara, who presided over the deliberations, expressed worry over the killing of the soldiers, noting that something must have gone wrong in Nigeria’s war against insurgency, especially considering that countries like Chad, Cameroon are securing their borders more effectively.

The lawmakers resolved that the probe, which is to be conducted by an ad hoc committee, should be constituted immediately to also look into the operational lapses that led to the killing of the soldiers by the insurgents.

The lawmakers also called on the military high command to release the names of fallen soldiers after due

consultation with members of their families.

Dogara urged that there is urgent need to curb insecurity in the country, wondering whether or not the Multinational Joint Task Force (MJTF), which comprises Chad, Niger, Cameroon and Benin Republics are still tackling the Boko Haram in the Lake Chad region.

Abdu (Bauchi, APC) particularly called for the probe of the $1billion recently appropriated by the National Assembly to prosecute the Boko Haram insurgency.

Also contributing to the debate, Aliyu Magaji called for the immediate sack of the entire service chiefs, saying they have failed and wondered how long they would be there to be attending funeral services of soldiers.

Abdulsamad Dasuki, who chairs the House committee

on Navy, claimed that the armed forces is not only technologically backward, it could only boast of about 200,000 soldiers, which he said is not enough to protect about 200 million Nigerians and its borders stretching from the Chad Basin to the Atlantic Ocean.

Dasuki, who also claimed that the service chiefs had failed to live up to expectations, insisted that Buhari has failed Nigerians on his promise to secure the country.

A ranking senator who spoke with THISDAY last night alleged that corruption among military high command might have compounded the security challenges in the North-east in the past few months.

He said in spite of the huge funds the present government

accidents breakdown to include 113 deaths occurring from 110 accidents in 2015; 140 deaths from 124 accidents in 2016; 95 accidents caused 113 electrocution in 2017, and From 87 deaths from 82 accidents between January and October 2018.

Ewesor said in this regards: “Operators present should note that what we are working at is zero electrical accidents and most especially electrocution.�

He added that electricity accidents do not just happen, and traced their causes to usage use of power by the public which in this regards accounts for 55 per cent of the causes.

Other causes he noted include encroaching on right of ways, poor adherence to safety rules by the operators and aging networks.

Ewesor charged electricity distribution companies (Discos) in the sector to improve on their safety practices, especially replacing aging installations in their networks. “This your aging network, if you don’t start changing and maintaining them, as we go on, we will not have power to supply to Nigerians,� said Ewesor.

Similarly, the Minister of Power, Works and Housing, Mr. Babatunde Fashola, who was represented by the Director for Distribution in the ministry, Mrs. Briskila

Sapke, urged power sector operators to comply with the Nigerian Electricity Regulatory Commission (NERC) rules on right of ways and safety operations to reduce the accident figures.

Fashola said, “We have made concerted efforts in recent times to stakeholders to intervene on encroachment of right of way of power lines which hinders maintenance.�

BUHARI TAKES FIGHT TO BOKO HARAM, VISITS TROOPS IN BORNO open today, the Chief of Army Staff (COAS) Annual Conference, which was moved from Benin City to Maiduguri, Borno State, at the Government House Conference Hall and use the opportunity to visit troops fighting Boko Haram.

The presidential visit comes after months of deadly raids by the IS-affiliated jihadists on military bases, which have left scores of troops dead or missing in the volatile North-east.

In a posting on Twitter on Monday, presidential spokesman, Mr. Bashir Ahmad, said Buhari would attend the army conference in Maiduguri as well as address troops to boost their morale. “President Muhammadu Buhari has cancelled his planned official visit to Benin, Edo State tomorrow, to visit Maiduguri, Borno State on Wednesday,� he wrote.

The president had

severally noted that fighting terrorism had taken a global dimension, which necessitated international collaboration among states facing similar security challenges.

He had reassured Nigerians of his continued commitment to their security and of his efforts to sustain the momentum in the previous significant successes recorded against the terrorists, advising Nigerians against making a political capital out of the national tragedy.

N’Assembly Investigates Defence Spending Meanwhile, believing that the huge funds budgeted to wage war against Boko Haram terrorist group are not being properly utilised by the military authorities, the National Assembly has

commenced investigations into alleged dirty deals by military high command.

THISDAY gathered yesterday that the leaderships of both the Senate and House of Representatives have directed their relevant committees to probe how the huge funds budgeted for the prosecution of the on-going war against terror in the last three and a half years has been spent.

From the House of Representatives, the Deputy Minority Leader, Hon. Chukwuka Onyema, in a motion moved under matter of urgent national importance, urged that after the killing of 118 soldiers and their commanding officer, Lt. Col. Ibrahim Sakaba, with about 150 more soldiers and officers still missing, the house should extensively deliberate the issue.

While amending the motion,

Continued on page 10

DARKNESS LOOMS AS N710BN POWER SUPPLY FUND DRAWS DOWN to guarantee prompt payments for power supplied to the grid.

Already, the Gencos stated that gas suppliers had begun to issue them notice of disconnection, adding that the Alaoji Independent Power Plant owned by the Niger Delta Power Holding Company (NDPHC) has been disconnected from gas supply by Total while First Independent Power Limited in Rivers State has equally been issued notice of disconnection.

But their claims, which were made at the 2018 edition of the Power Safety Summit (PSS) in Abuja, have been debunked by the NBET, which said there was no cause for alarm, and that it was working hard to ensure payments to Gencos for power supplied to the national grid were made promptly.

The Gencos’ warning and NBET’s assurance also coincided with the disclosure at the summit by the Nigerian Electricity Management Services Agency (NEMSA) that a total of 453 people had died of electricity related accidents in the country’s power sector within the last 46 months.

The N701 billion was obtained as a loan from the CBN by the NBET to enable it meet up with payments to Gencos for power supplied to the grid considering that monthly remittances of the 11 electricity distribution companies (Discos) to it for

power sold to them have remained inadequate to pay the Gencos.

Speaking on the sidelines of the PSS shortly after making a presentation, the Executive Secretary of the Association of Power Generation Companies (APGC) which is the umbrella trade association of the Gencos, Dr. Joy Ogaji, stated that the Gencos were worried the stopgap fund was fast depleting and would not last more than December 2018.

Ogaji, also noted that the Gencos had tried without success to meet with representatives of the federal government in this regards.

She added that when the N701 billion finishes, it would be difficult for the Gencos to continue generating power to the grid. “For the Gencos, we have a contractual obligation with the government and we don’t have a direct contract with the Discos, so, government owes us through the NBET to pay us. “We are really worried and have called for meetings with the government but as it looks, government is not able to find other solutions because the plan for the N701 billion was such that by this time of the year - December, the Discos’ collections and remittance would have increased to 80 per cent, and at that point, the government would with the

PSRP (Power Sector Recovery Programme) and the loan from the World Bank see to this,� said Ogaji.

Asked why the Gencos were worried since the PSRP was there to take care of incoming financial liabilities, Ogaji stated: “The body language shows that the PSRP is in the freezer and they are not in a hurry to de-freeze it. When you ask stakeholders, they tell you the PSRP is alive but even the World Bank isn’t sure about the status of the PSRP.�

Continuing, she said: “This is not about Gencos saying they will shutdown. The factors of production will just outplay. Right now, Total has shut off (gas supply to) the Alaoji NIPP because they have not been paid since May, and I mentioned this earlier. First Independent Power Limited (FIPL) has gotten a warning letter from Shell and two other companies have also been given warning letters. “If there is no gas, and you know about 89 per cent of our power comes from gas, we don’t need to say it, automatically, if there is no gas, we cannot generate.�

However, in a note exchanged with THISDAY on the development, the head of corporate communications at the NBET, Henrietta Ighomrore, stated that the fund was still in operations and not going to deplete so

soon.

Ighomrore, equally explained that the NBET was working with the government to ensure that payments due to the Gencos were met, and power generation uninterrupted.

According to her, “The 701.9 billion is still operational, NBET is committed to making payments to the Gencos. We will continue to pursue and meet our obligations to the Gencos. “The idea of the 701.9 billion did not come from the Gencos, it was the in-house team of NBET that came up with the facility, and with the support of the Honourable Minister of Power, we approached the government and the Federal Executive Council gave the approval.� “NBET continues to make payments and explore creative ways to ensure improvment in payments to Gencos. There is no cause for alarm. The sector is moving forward and to the next level,� she added.

Meanwhile, the NEMSA has said that at least 453 persons were electrocuted in 46 months since 2015.

NEMSA’s Managing Director, Mr. Peter Ewesor, who disclosed this at the PSS, charged operators in the power sector to work hard to attain a zero target for accidents and electrocutions in the sector.

He gave the electrical

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Endangered ISPs Lament High Interest Rate, Dwindling Business Emma Okonji The operations of internet service providers (ISPs) are currently under threat over high interest rate, high cost of equipment as well as the declining business.

According to the operators, the incursion of telecom companies into their market is also taking a toll on their operations.

The Managing Director of Swift Networks, one of the few surviving ISPs in the country, Mr. Charles Anudu, who raised the concern, called on the federal government to intervene in order to revive the sector.

Although the sector has growth potential and contributing immensely to telecoms growth, the issue of high interest rate and high cost of equipment is threatening to crumble the once vibrant

sector that provides internet connectivity to homes, offices, organisations and individuals.

According to Anudu, ISP business is capital intensive and banks collect as much as 25 per cent interest rate per annum on loans offered to ISPs for purchase of equipment, which he said has skyrocketed.

"Aside high interest rate and high cost of equipment, we spend so much in maintaining co-location sites that run diesel 24/7 and we are sometimes faced with destruction of underground fibre cables that transmit internet capacity from one location to another, thereby disrupting internet connectivity," Anudu explained.

Another chief executive officer of an ISP firm, who preferred anonymity, blamed the situation on the inability of the Nigerian

Communications Minister, Adebayo Shittu Communications Commission (NCC), the telecoms industry regulator, to come up with the new Data Floor Price that would determine the charges of internet service delivery and also protect the smaller ISPs, due to the incursion by the telecoms.

Presently, only few ISPs were able to renew their licences in 2018, an indication that more ISPs may have gone under this year.

According to findings by THISDAY, since 2011, the number of licensed ISPs has dropped significantly, following the incursion of telecommunication operators such as MTN, Globacom, Airtel, 9mobile and ntel, as they currently offer mobile internet service, which hitherto was the traditional service offering of ISPs. Statistics obtained from the Nigerian Communications Commission’s (NCC) website showed that 205 ISPs were licensed between 2007 and 2015.

But the number has reduced to 92 as at January this year, before additional seven were licensed, bringing the total figure to 99 presently.

The seven newly licensed ISPs include: Bava Network and Technologies Limited; Netzplan Resources Limited; Sentient Networks Limited; Standard Communications Limited; Service Aggregation & Distribution Limited; Passage Telecommunications Nigeria Limited; and IP Express Limited.

Confirming the reduction in the number of licensed ISPs in the country, NCC said only 10 per cent of the 103 licensed ISPs in the country had approached it for licence renewal this year.

This means that about 90 per cent of ISPS are out of business.

The commission said the larger telecom industry of which ISPs are integral part, are beset with numerous challenges.

It listed issues of power; accessibility to forex;

multiple taxation/regulation; infrastructure; vandalism as well as high cost and long delays in obtaining right of way and permits, as reasons for the decline in ISP operations.

The Director, Licensing and Authorisation at NCC, Ms. Funlola Akiode, recently said the commission witnessed tremendous decline in the number of applications for ISP licences while the renewal rate of the licence category also dropped drastically. “In the past five years, the commission has licensed a total number of 103 ISPs nationwide but about 10 per cent has applied for renewal of the licence, and this is alarming, which could be the reason why some ISPs have not rolled out services in accordance with the conditions of their licences,� Akiode said.

Ibom State and I want the whole world to know and to hear me. We have seen total breakdown of law and order today by the Nigerian Police. “The same police that I am using the resources of the state to make sure that we maintain peace and order in this state.

This state had been the most peaceful in this country. “We maintain all the oil installations so that we could get money out of here and send to Abuja for the police force to be maintained. Is the same police force that today supervised by the commissioner who came in against the court of law. “What did the Speaker do?

The speaker was maintaining law and order. The court ordered the Speaker that those who had defected, their seats should be declared vacant.

This is not the first time in line with the rule of law. “But since last night, when we heard about this, we called the Commissioner of Police and told him we have heard that you want to escort those sacked three members against the rule of law. “And this morning, even when they were drumming the so-called Warsaw, we have seen a trace of it today. Some people were arrested with fake uniforms. They came with 18 AK 47 rifles. They have been arrested but unfortunately as I am speaking right now, these same person through the orders of the Commissioner of Police, were asking that

those people should be let go. “This was the same Warsaw that was pronounced and that we had reported to the Inspector General of Police; we had reported to the presidency, all the security agencies and nobody took steps to address it. “So they are leaving Akwa Ibom people to defend themselves. We have called on all the powers-that-be; we call on the international community, this is a war that has been declared. I have never heard when Nigerian Police is partisanship. This is the first time that the entire police structure is belonging to a particular political structure.�

In a reaction to the incident, the opposition group, Coalition of United Political Parties (CUPP), accused the presidency, IG of police, APC National Chairman, Mr. Adams Oshiomhole, and former governor of the state, Senator Godswill Akpabio, of being behind the crisis.

Its spokesperson, Mr. Ikenga Ugochinyere, said the opposition parties received with shock “the news of another display of impunity and legislative rascality by five suspended members of the Akwa Ibom State Assembly,� who he said, “are apparently

being sponsored by Senator Godswill Akpabio, APC government and other AntiDemocratic forces desperate to remove the state governor Emmanuel Udom.�

According to him, "We are more worried that these five lawmakers and their pay masters could unleash this mayhem on the State Assembly for the second time in less than two weeks without any arrest by the police and other relevant security agents in the state."

"We heard on good authority that these hoodlums imported by these sponsored five lawmakers, forced their way into the legislative house at the early hours of today with the aid of policemen drafted by the Inspector General of Police (IGP) Mr. Ibrahim Idris, the National chairman of the All Progressives Congress (APC) Adams Oshiomhole to destabilize the state Assembly."

He stated further, that the five suspended State Assembly members with the support of the police forced their way into the chambers to first sack the speaker, elect a new one, and thereafter constitute a committee to commence removal proceedings against the state governor.

He added that the conspiracy will never work and that the opposition parties condemn in strong terms this attempted abuse on our democracy by a few misguided elements in the state and their pay masters.

told THISDAY that there are growing concerns over the application or otherwise of arms and ammunitions available to the military in view of the recent attack by terrorists at the 157 Battalion, Metele, Borno State that led to the death of 118 soldiers.

There are also issues concerning ‘’incompetence of commanders’’ and prevailing substance abuse within the ranks and file, factors that have affected the overall performance in the fight

against insurgents.

For instance, going by the record of military purchases since 2015, the three services, army, air force and the navy, have boasted robust funding.

The Chief of Air Staff, Air Marshal Sadique Abubakar, had said the federal government made purchases and conducted repairs of a total 49 aircraft, including the 12 Tucano Aircraft ordered from the United States to be delivered in 2020.

In the 2018 Budget, the

military proposed N38 billion for the purchase of ammunition, jet fighters, amoured tanks, landing ships, patrol vehicles and boats among others.

Going by the record of appropriations since 2008, a total of N6 trillion would have been expended on defence by the end of the 2018 fiscal year.

A significant part of this budget was said to have been concentrated on the war against insurgency.

AGAIN, CONCERNS MOUNT OVER ROLE OF POLICE IN AKWA IBOM governor and the speaker severely criticised the police for their role in the crisis, saying the security agency had become partisan.

Their position received boost from the party’s National Publicity Secretary, Mr. Kola Ologbondiyan, who called on President Muhammadu Buhari to rein in the police, which he said had become “embarrassingly partisan.�

He said in an interview with THISDAY, “We are confronted with a situation in which a police force funded with public tax has become so partisan that it now sees itself as an arm of the ruling party. This is unfortunate and the president must rise above partisanship to deal with this ugly development.�

Ironically, the APC National Chairman, Mr. Adams Oshiomhole, was not impressed by the conduct of the police as he told journalists yesterday that the agency’s conduct during yesterday’s pandemonium at the assembly complex was partisan on the side of the PDP. He accused the police of aiding the state governor to dislodge the five APC members from the complex instead of enforcing their right to seat and carry out their intention.

The Inspector General of Police, Mr. Ibrahim Idris, has had to make frequent changes to the headship of the police command in the state since the crisis started.

First to be appointed in its wake was Bassey Abang, who was quickly replaced by the incumbent, Musa Kimo.

Yesterday’s pandemonium began with forcible entry into the assembly by the five APC lawmakers to commence removal proceedings against the state governor.

They were, however, resisted by other members and the governor.

In the ensuing commotion, security operatives deployed in the assembly, journalists, staff of the assembly and visitors, were forced to run for their lives as live bullets were freely released from different corner of the assembly complex.

The governor and the speaker were shielded to a safe corner as the newly posted police chief, Kimo, arrived the assembly complex about 10.11a.m to the embrace of gunshots and the rowdy session.

Some persons sustained various degree of injuries as the Hilux car that reportedly belonged to the factional Speaker, Ntuen, was burnt as his driver attempted to escape from the premises, while another vehicle was burnt on the road leading to the complex.

THISDAY gathered that trouble started as early as 8a.m when the police reportedly escorted the five APC lawmakers to the state assembly chamber for sitting, using alleged fake mace.

During their plenary, the

sacked lawmakers were said to have summoned the state Commissioner for Works, Mr. Akparawa Inyang, and also commenced removal proceeding against the state governor.

As the APC lawmakers were waiting outside the chamber after rising from the sitting, the governor’s convoy drove in with the PDP lawmakers and immediately, there was a free-for-all as thugs broke into the assembly and descended on the APC lawmakers.

Some of the APC lawmakers had to scale the perimeter fence of the assembly to safety, with others escaping from being lynched.

Emmanuel, who addressed a world press conference at the Governor’s Lodge shortly on returning from the assembly complex, blamed the police for being partial.

He lamented that the state was under siege with the connivance of the police.

He said, “Let the whole world know that Nigerians fought and gave their lives in this country to enjoy democracy we currently have today. But in Akwa Ibom State, due to the ambition of selfish people that this state had given opportunity to become what they never dreamt they would become when other people gave them opportunity. Some of them were commissioner for six years and governor for eight years, making 14 years. “But today, that democracy is being threatened in Akwa

CUPP Accuses Presidency, Akpabio, IGP of Plot to Destabilise Akwa Ibom

BUHARI TAKES FIGHT TO BOKO HARAM, VISITS TROOPS IN BORNO had received to engage the terrorist group, it has not bought any ammunition in the last three years.

According to him, ‘’Our investigation has revealed that it was the several units of highly effective sophisticated weapons from Eastern Europe, which former President Goodluck Jonathan administration bought that the military is still using.

For instance, it was gathered that the former administration acquired 60

units of computerized T72 tanks, alongside 30 units of transports vehicles, which were said to have been deployed in various war fronts against the insurgents before now.

The source said that some of the equipment from Israel was received in August 2014.

Other arms acquired by the former administration include, 40 units of BTR, with heavy fire power capability; 100 units of D30-122 mm; two units of mi 35 hind; 50

units of tanks T72 combat; 20 BMP 1, 30 trucks Knaz 6X6; 20 tanks transporter 8X8; 40 truck Steyer 6X6; 25 BTR4/30mm; 100 81mm motar; 200 RPG G7; 100 122mm motar; 18D30-122mm; 100 120mm motar; 12 20 BM70 New and 10 units of Demining System anti-mine and others.

A lot of this military equipment were said to have been delivered to the Nigerian Army on January 27, 2014.

A defence source also

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

Senate to FG : Suspend Planned 500% Increase in Tariff on Alcoholic Beverages Suggests maximum 50% hike

Deji Elumoye in Abuja The Senate yesterday directed the federal government to suspend the implementation of the proposed 500 per cent hike in excise tariff on alcoholic beverages and tobacco products.

It advised that the implementation of a new

excise tariff rate should not be effected until all relevant stakeholders are carried along and a resolution reached to pave the way for consensus and implementation approach.

This was sequel to the adoption of the report of the Senate Committee on Finance headed by Senator John Enoh (Cross River Central) presented

Orjiako Realises N710m from Sale of Shares in Seplat Goddy Egene

September 30, 2018 as against a loss of N1.62 billion in the The Chairman of Seplat corresponding period of 2017.

Orjiako had told shareholders Petroleum Development Company Plc, Dr. A.B.C Orjiako, last June that the company would has sold 1.2 million ordinary put more investment in its gas shares of his holdings in the business in 2018 so as to boost company between October10 revenue and deliver more returns to investors. and November 1, 2018.

According to him, most of The shares, which were sold at an average price of N592.02 the investments would be in per share amounted to N710.424 gas business, which he said contributed about 27 per cent million.

In notification to the Nigerian of its revenue in 2017.

“Our strategy to diversify Stock Exchange (NSE) yesterday, the Chief Financial Officer of and grow our sources of Seplat, Mr. Roger Brown, said income through the expansion following the sale, Orjiako of our gas business continues now holds a direct interest in to gain momentum. Since the 16,151,325 ordinary shares and government launched various an indirect interest in 29,800,000 initiatives to stimulate investment ordinary shares of the company in the gas sector, including totalling 45,951,325 shares which opening the Domestic Supply equates to a voting interest of Obligation (‘DSO’) price to 7.81 per cent based on issued commercial market forces, Seplat has been at the forefront of gas share capital of 588,444,561.

Brown said the notification commercialisation and made was made in accordance with substantial investments in Rule 12 of the Amendments to support of the government’s the Listing Rules of the NSE and energy agenda,” he said.

Also speaking on the Article 19 of the EU Market Abuse Regulations of the London performance of the company, Stock Exchange (LSE), the two Chief Executive Officer of bourses, where Seplat is listed. Seplat, Austin Avuru, said: The shares of the company “I am pleased to report that closed negatively yesterday, Seplat made a return to full-year shedding 9.6 per cent or N62.70 profitability in 2017, registered to close at N590 per share. Year- strong cash flow performance to-date, the stock has shed 5.7 per and significantly strengthened cent, compared to the 18.5 per the balance sheet. In a year cent declined so far suffered by of contrast, we were plagued throughout most of the first half the NSE All-Share Index.

Seplat , which is the only by force majeure at the Forcados petroleum production exploration terminal…Our proactive and firm listed on the NSE, recovered decisive management coupled from a loss of N45.4 billion in with the strong underlying 2016 to a profit of N81.1 billion fundamentals of the business have seen us emerge from an in 2017.

The company has also shown exceptionally challenging period very bright prospects in the a much fitter and stronger current financial year, having business that is well equipped recorded a profit of N27 billion to deliver long-term value for for the nine months ended our shareholders.”

Lagos Obas to Sanwo-Olu: Focus on Lagos as Governor Segun James The All Progressives Congress (APC) governorship candidate in Lagos State, Mr. Jide Sanwo-Olu, has been advised to focus on the state and its people when he is eventually elected as governor.

The advice was given by the paramount ruler of Iruland, Oba Idowu Abiodun Oniru and his Ajiran counterpart, Oba Tijani Adetunji Akinloye, even as they had both thrown their weights behind the aspiration of the candidate

The monarchs who made the statements during separate courtesy visits to their palaces by the APC candidate and his entourage, told Mr. Sanwo-Olu to make Lagosians and the state the focus of his policies when he is elected as the Governor.

Oba Oniru, who was effusive in his prayers for Sanwo-Olu and his running mate, Dr. Obafemi Hamzat, described the duo as a good omen for Lagos, adding that the state has never had it so good with the quality of candidates that the APC has presented.

at plenary which considered a motion on “the urgent need to review the excise tariff increment in order to save local distillers of beverages from looming extinction.”

The Senate, however, advised that a tariff hike of not more than 50 per cent should be adopted, “as it becomes necessary for the federal government to increase the tariff rate in order to boost revenue generation as the rate will provide more leniency to the affected manufacturers and give more hope for the survival of the indigenous companies.”

It also resolved that there was serious need to increase the import duties of foreign alcoholic beverages and tobacco products in order to give local indigenous companies more competitive edge.

The upper legislative chamber advised the federal government to sensitise and carry along the producers and consumers of alcohol and tobacco products to understand the need for the increase and its advantage in adding to the economic fortune of the country.

The Senate further agreed that if the new excise tariff rate was allowed to be implemented by the government, it would stand at about 500 per cent after the three years incremental period.

The lawmakers also argued that if the tariff was fully implemented without review, it was capable of compelling affected companies that could not stand with the new rate to either shut down or relocate their full operation to neighbouring African

countries with favourable and flexible taxation policies for the sector.

The increase in the excise tariff rates on alcoholic beverages and tobacco products was approved

by President Muhammadu Buhari after the adoption of the recommendation of the Tariff Technical Committee of the Federal Government.

It was reported that the federal government resolved to increase the excise rate because of its drive to increase revenue generation and the belief that taxation is a veritable tool in controlling the consumption of alcohol beverages as they have negative health effect on consumers.

The Manufacturers Association of Nigeria (MAN) had at a public hearing organised by the Senate raised

the alarm that the increase would give more competitive advantage to foreign products because foreign products would not be affected by the increment.

MAN which described the increment as “outrageous as it stands at 500 per cent,” added that “if the new rate is fully implemented after the three years incremental period, it is believed that a number of the local manufacturers will have no other option than to suspend operation.”

The association suggested that 35 per cent increment at maximum should be implemented by the government, saying it would guarantee the survival of the industry rather than 500 per cent increment which would put the entire industry in a very difficult situation.

TAKING CHARGE

New Osun State Governor, Mr. Gboyega Isiaka Oyetola (left), signing the oath of office before the Chief Judge of Osun, Justice Adepele Ojo, at the Osogbo City Stadium....yesterday

MTN Group May Lose More Executives Amid Nigerian Crisis Emma Okonji with agency report MTN Group may lose more high-ranking executives in the next few months, according to sources familiar with the matter, just as the company, Africa’s largest wireless carrier by sales, continues to battle the $10. 134 billion allegation, which is a combination of $2 billion unpaid tax arrears and $8.134 billion alleged funds repatriation out of the country between 2007 and 2015, which the Central Bank of Nigeria (CBN) has asked it to refund to government coffers.

Chief Innovation Officer at MTN Group, Herman Singh, is expected to leave soon and will move on to start his own tech venture, according to close sources who asked not to be mentioned as the information hasn’t been made public. The

exit will come as the Chief Technology Officer, Babak Fouladi, prepares to join Dutch telecommunications firm, KPN NV, in a similar role next week.

MTN confirmed Fouladi’s departure, which was announced by Rotterdam-based KPN earlier this month. But Singh has declined to comment.

According to Bloomberg, the executives are leaving after a three-year period of considerable turmoil at MTN. The $5.2 billion fine in Nigeria in 2015 embroiled MTN in 10 months of negotiations and prompted a management overhaul. Earlier this year, authorities in the Nigeria announced another round of multi-billion-dollar demands.

The stock has halved over the period, valuing the carrier at 169 billion rand ($12.2 billion). That’s

even as demand for data services in Africa booms and MTN expands in fast-growing services such as mobile money.

The company agreed to a partnership with Orange SA last week to ease payments across the continent, Bloomberg said yesterday.

The shares of MTN Group declined a further 2 per cent yesterday to 88 rand as of 1.13 p.m. in Johannesburg, which is the steepest fall in a week.

MTN Chief Executive Officer, Rob Shuter, was hired from Vodafone Group Plc two years ago in the wake of the first Nigeria penalty, which was eventually settled for about $1 billion.

Fouladi was lured from the same company later that year. Singh, formerly with MTN’s crosstown rival Vodacom Group Limited,

was appointed in 2015.

Another high-ranking executive, Stephen Van Coller, left MTN at the end of August to take the helm of technology firm EOH Holdings Limited.

Originally hired as head of mergers and acquisitions, the former investment banker was moved to run digital services before quitting less than two years into his tenure.

MTN’s latest dispute with Nigerian authorities is over an allegation that the company illegally transferred $8.1 34 billion out of the country and owes $2 billion in tax arrears.

While the transaction matter looks close to being wrapped up, with Central Bank Governor, of Nigeria (CBN) Mr. Godwin Emefiele, said he was going to “the verge” of announcing an amicable resolution.

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NEWS

Jonathan: Anenih Played Politics of Ideology, Commitment Saraki, Secondus, Oshiomhole, George, others pay tributes Adedayo Akinwale in Abuja Former President, Dr. Goodluck Jonathan, yesterday said the late Chief Tony Anenih was one of the few Nigerian politicians who played politics of ideologies and commitment.

He added that despite a few unpleasant things done to him as a member of the Peoples Democratic Party (PDP), he served the party wholeheartedly till his last day.

The former president made this known in Abuja at a church service as part of the activities lined up for his (Anenih) final journey home.

Anenih who died on October 28, 2018, would be buried on December 1, 2018, in Uromi, Edo State.

Dignitaries at the church service were Senate President, Dr. Bukola Saraki; Chairman, PDP Board of Trustees (BoT), Senator Jibril Walid; the

National Chairman of All Progressives Congress (APC), Adams Oshiomhole, former Secretary to the Government of the Federation (SGF), Anyim Pius Anyim; Speaker of House of Representatives, Yakubu Dogara; PDP chieftain, Chief Bode George; National Chairman of PDP, Prince Uche Secondus; Governor of Edo State, Godswin Obaseki, among others.

Jonathan stressed: “When I looked at the few activities of Anenih politically, I feel he’s one of the few Nigerian politicians that you can say played politics of either ideology or commitment.

“From the time of former President Olusegun Obasanjo in 1999 to late President Umaru Musa Yar’Adua, to my time, there are few things that were done to Anenih that were not too good, I can say if it were other people they would have left PDP, maybe

go into another party.

“But no matter the political ups and downs, he remained steady, he remained committed in PDP. He stayed and served the party until his last day.

It’s difficult to have that kind of character. Yet there are still others like that in the party, but Anenih was one of the foremost leaders of PDP.” The former president also revealed that the day he was told that Anenih was admitted in the hospital, he went there to check on him and see how he was doing.

He said: “When I got go the hospital, he was lying

in the bed, he struggled to explain to me what happened and in fact he summoned the doctor to explain to me; if I was not a son to him, he couldn’t have done that.

“The doctor had to show me the scan on his brain, and told me about the injury he sustained when he fell, and that he was bleeding in the brain, but he gave me hope that the bleeding appeared to stop and if that happened, we will have hope that he would be sustained and that the next stop would be to take him out of the country for a follow up.

“I was hopeful. The next day I travelled back to Bayelsa State, but after few days when I made enquiry, I was told that he has been moved to the Intensive Care Unit. For five minutes, I couldn’t do anything because the condition I saw him was critical and if he had been moved to ICU, that means things were getting bad.

“Of course, before I returned to Abuja, one of the saddest stories came that he had left us. It was a terrible story for people like us. He mentored me as his son until he left us.”

Saraki said for over 40 years, Anenih worked tirelessly for the country and for the party.

He stated that he was always looking for solutions, peace and bridge building to unite the country and looking for compromises.

The Senate president added: “If we have many people like him, this country would be a great country.”

On his part, Oshiomhole said despite their political difference, he always referred to him as his son, adding that he is always proud to call him father.

2019 Elections Important to EU, Says Dutch Envoy Wike alleges FG plans to use security to disrupt elections in Rivers, Akwa Ibom Ernest Chinwo in Port Harcourt The Ambassador of Netherlands to Nigeria, Mr. Robert Petri, has said the European Union (EU) is interested in the conduct of the 2019 elections, and would monitor the process to ensure compliance with standards.

This is as Rivers State Governor, Nyesom Wike, declared that the All Progressives Congress (APC)led federal government is working in liaison with security agencies to disrupt 2019 governorship election in Rivers and Akwa Ibom States.

Speaking in Port Harcourt yesterday when he paid a courtesy visit to Wike, Petri, assured Nigerians that the EU would closely monitor the forthcoming elections to ensure they are credible.

He said: “We are getting closer to the general electionswhich is very important . We need free and fair elections conducted in a peaceful environment.

“The European Union, which we are part of, will send monitors for the presidential and governorship elections. It is important that the elections are conducted in a friendly environment.”

Petri also said the Government of Netherlands is interested in the clean up of Ogoni land.

In his remarks, Wike stated that the federal government plans is to mobilise its rigging security apparatus from all other states to the two states on a later date for the manipulation of the two strategic governorship elections.

The Rivers State governor urged the EU to pay closer

attention to the two elections.

“When I raised the alarm that the federal government is plotting to plant 800 guns in Rivers State to destabilise the state, it is the truth. It is real.

“The federal government working with the security agencies is planning to disrupt the 2019 governorship election in Rivers and Akwa Ibom States. They want to ensure that the elections don’t hold with other states, so that they can mobilise security agencies to manipulate the results,” he said.

The governor noted that the international community must work with Nigerians to ensure that what happened in Osun State is not repeated in the Niger Delta.

Wike said if the Independent National Electoral Commission (INEC) and Police could allow 55 per cent free and fair elections, Nigerians would be happy.

“As members of the EU, we want you to use your position to prevail on INEC and security agencies to allow the will of the people.

“Manipulating the electoral process is corruption. This administration claims that it is fighting corruption, but that is not true. When a PDP member defects from their party, the issue of corruption against him ends,” he said.

The governor stated that the president has refused to sign the amended Electoral Act because they have ulterior motive.

On the clean up of Ogoni, Wike regretted that the APC-led federal government has politicised the exercise, which is only thrown up during elections.

MOURNING A GREAT FATHER

LR: Son of the deceased Mr. Tony Anenih (Jr); window, Justice Mariam Anenih; Mrs. Christy Borah; Mrs. Stella Ehkahmah; and Mrs. Patricia Edo-Osaige, during the Service of Songs for the late Chief Tony Anenih in Abuja...yesterday

Oyetola Sworn in as Osun Governor Promises prompt payment of salary, 30,000 jobs Yinka Kolawole in Osogbo The inauguration of Governor Gboyega Oyetola of Osun State took place yesterday as oath of office was administered to him by the state Chief Judge, Justice Adepele Ojo. The Deputy Governor, Mr. Benedict Olugboyega Alabi, also took his own oath of office.

Speaking after taking the oath, Oyetola promised to ensure prompt payment of workers’ salaries and the creation of 30,000 jobs for the unemployed youths in the first quarter of his administration.

The governor, who was elated, also vowed to follow the legacies of Chief Obafemi Awolowo, Chief Bisi Akande and the immediate past Governor, Rauf Aregbesola, for their enduring legacies.

Speaking further, Oyetola equally promised to urgently put in place economic submit for an all-round development in the state.

He opined that for the state to be economically stable, he would encourage total industralisation and agricultural development

Oyetola also promised that he would build on the progress already achieved by doing so on the farms, in industries, villages, schools, persons, until everyone in this state feels the beneficial influence of progressive good governance in their lives.

He also remarked that “he will become the defining hallmark of intervention in governance in the next four years through social partnership between government and the people based on the execution of a social contract.”

According to him, “We will combine the sagacity of Awolowo, the vision of Bola Ige, the wisdom of Akande, the dexterity of Bola Tinubu and the innovative capacity of Aregbesola to make our state even greater.”

Continuing, he said: “We will ensure that workers’ salaries are paid promptly bearing in mind the financial inflow of the state.

We shall also resolutely defend, extend and prioritise the welfare of workers and pensioners.

“To reposition the economy of our great state, we shall organise the Osun Economic Summit within the first quarter of our first

year in office. The multi-stage, multi-stakeholder summit will dissect and recommend strategies which will drive meaningful youth employment, enhance food security, agricultural development, activate mining prospects and boost tourism potential of this state. We will also showcase Osun State as a strategic location for industrialisation.”

Oyetola further stressed that he would develop the free trade zone while strengthening Small and Medium Enterprises (SMEs) as a way to enhance their productive capacity to generate jobs and create wealth.

To further boost the local economy and increase the revenue base, the governor said he shall make the state a cultural destination and a tourism enterprise zone in the Southwest region.

He equally promised to improve on the Internally Generated Revenue (IGR) of the state in ways that do not bring additional burden to the people. “We will make health and education more

accessible.

Employment opportunities will be created through industrialisation and expansion of agricultural activities through appropriate incentives,” he added.

Oyetola said the administration would also promote equitable and value-based developmental education that emphasizes competence and character as reflected in the principle and philosophy of Omoluabi.

He pledged to sustain the massive investment in school infrastructure development. In his remarks, the representative of President Muhammadu Buhari, the Secretary to the Government of the Federation (SGF), Boss Mustapha, commended the peaceful handing over and thank the people of the state for allowing peace to reign.

He then called for good governance which he described as the bed of development.

In his message, the All Progressives Congress (APC) leader Senator Bola Tinubu, commended Aregbesola for a job well done, adding that he ran a progressive government.

THISDAYt WEDNESDAY NOVEMBER 28, 2018

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COMMENT

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

HELEN: FREEDOM AT LAST

Too many innocent Nigerians are in prisons for the wrong reasons, writes Sonnie Ekwowusi

H

elen (not her real name) is a 14-year-old girl.

Her parents habitually reside in a remote village in Imo State. They are very poor. They have neither money nor the wherewithal to send Helen to school even though she displays some learning capabilities. About 11 years ago, Helen’s uncle, a motor spare parts dealer based in Lagos, showed interest in Helen’s plight. He told Helen’s parents that he would like Helen to start living with his family in Lagos so that he could enroll her in a good secondary school in Lagos. Convinced that fortune was finally coming the way of their daughter, Helen’s parents unhesitatingly agreed and thanked Helen’s uncle for his generosity. On arriving at her uncle’s residence in Lagos Helen was initially treated well. But afterwards her aunt instructed that she should be doing all the chores in the house. As if that was not enough, Helen’s uncle informed her that his motor spare parts business was going down and consequently she should start hawking oranges in the streets of Lagos to earn some money for her school fees and upkeep. This was how Helen became an orange hawker. Every day Helen sees her cousins go to school while she remains at home doing household chores. On finishing her household chores, she carries her tray of oranges on her little head and goes about the streets hawking oranges.

This lingered for about two years. But one day some law enforcement agents raided the street where Helen and her colleagues where engaged in hawking. They arrested Helen and other young hawkers, whisked them off to an unknown destination and later dumped all of them in prison. So, Helen became a forgotten prisoner in the prison. For nine years Helen remained in prison for an undisclosed offence or offences.

She was never arraigned in any court let alone granted bail or charged or convicted for any offence(s). After searching for Helen for two weeks without success, Helen’s parents and uncle concluded that Helen had been kidnapped and used for a ritual.

But two months ago something happened to Helen which she perceived as a miracle from God. There is this group of Catholic ladies who worship at the Church of Assumption, Falomo, Lagos. Over the years, these ladies have freely chosen to be visiting the prisons from time to time to console and comfort the prisoners there especially those categorised as the Awaiting-Trial-Inmates (ATI). The ladies usually take some foods and drinks and gifts items with them to give to the prisoners. Before leaving the prison the ladies do not forget to pray and sing Gospel praises with the prisoners. Two months ago, these ladies went to visit a certain prison in Lagos. In the course of doing so they encountered Helen. She narrated her story to them: how she went about hawking one day only to be arrested and dumped in prison for nine years without trial.

The ladies felt sorry for Helen. Some of the ladies could not control their emotions anymore. They broke down in presence of Helen and the prison warden and wept. After leaving the prison the ladies met and resolved that they would do everything possible to ensure that Helen regained her freedom. They briefed a lawyer who engaged the relevant authorities in some discussions that eventually culminated in the release of Helen from prison. Holding her two hands up and looking up to high heavens on the memorable day she regained her freedom, Helen yelled: “I now truly believe that Jesus is alive! Jesus has

THE STATE HAS NO RIGHT TO ARBITRARILY DEPRIVE A CITIZEN OF HIS OR HER FREEDOM EXCEPT IN ACCORDANCE WITH THE RULE OF LAW

saved me. I now believe that Jesus is aliveâ€?. Not even the intervention of the Catholic ladies and some passers-by who had surrounded Helen could stop her from yelling on top of her voice: “I now truly believe that Jesus is alive‌.â€?

First, the above testifies to our appalling criminal justice system. Too many innocent Nigerians are in prisons for wrong reasons. In fact about 64% to 70% of the ATI in the various Nigerian prisons are suspects who had been picked up by the Police at the scene of a crime or linked with some minor offences or misdeamenours. There are many Helens languishing in the various Nigerian prisons. Each time I visit the prison I always come out dispirited and demoralised.

Why? Because lots of ATI in prison are simply victims of gross miscarriage of justice. For example, for pilfering a loaf of bread a hungry small boy can be arrested and dumped in a Nigerian prison. The painful aspect is that the bulk of these ATI are suspects whose terms of imprisonment would have ended if they are timeously charged to court and convicted.

The staggering percentage of ATI in our various prisons is indicative of one thing-a systemic failure in our criminal justice system.

Consequently, all hands must be must be on deck to de-congest the Nigerian prisons and secure the freedom of the innocent. Expecting the government to take the initiative in this issue is a sheer waste of time. Oftentimes the government is irresponsible. For example, successive Federal Attorneys-General in successive governments in Nigeria who have been mooting wonderful ideas on prison reforms, ameliorating the plight of ATI and all that have ended up doing nothing in that regard. Our current Federal Attorney-General is so embroiled in partisan politics that he doesn’t spare any thought for prison reforms and the plight of the ATI. So, rather than endlessly waiting for the government that will never come, public-spirited individuals, NGOs, corporate organisations, Churches, Mosques and others should erect frameworks of solidarity for assisting the poor, needy and prisoners. By securing the freedom of Helen, the Catholic ladies have shown that all of us, whether we are in government or not, lawyers or not, rich or poor, influential or not, can render assistance to the poor, needy, naked, hungry, socially-uprooted, marginalised and prisoners languishing in various prisons in Nigeria. Beyond making money and answering big names, Nigerian lawyers should render pro-bono legal services to ATI aimed at securing their freedom. Lawyers aspiring to offer legal services to rich politicians and moneybags should also aspire to render such services to the poor, the oppressed, the marginalised and prisoners. Nigerian lawyers should remember that the law profession is a vocation for proper ordering of society, or, in the postulation of Justice Chukwudifu Oputa (of the blessed memory), that law is “a shield and a fortress against tyranny and oppression‌.â€?

Man was conceived in freedom. At Gettysburg, Abraham Lincoln stated that before everything else, America was conceived in freedom. Similarly, Nigeria was conceived in freedom. Freedom is an inalienable right not a caprice of the state. Therefore the state has no right to arbitrarily or capriciously deprive a citizen of his or her freedom except in accordance with the rule of law.

NIGERIA’S DIGITAL SWITCHOVER: LET US MOVE FORWARD Dele Olowu argues the need to speed up the digital switchover project

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he digital switchover has become a global obsession and most modern state systems are anxious to embrace the option. Nigeria, not surprisingly, from early on, sought to optimally exploit the potential of the digital switchover. However, until recently, its policy response has been uneven and frequently, a mixture of inertia and sudden bursts of change. Under Buhari, the switchover policy appears to have enjoyed more clarity and stable patronage.

This is a useful departure. It is also ideologically fitting. A proper digital deployment is consistent with Buhari‘s resolution to diversify the economy and create more jobs. It is widely recognised that a complete digital switchover such as Nigeria contemplates, is bound to have a decisive impact on the Nigerian economy.

A digital switchover will make Nigeria the largest digital television market in Africa, and will also give an incredible leverage to film, music and drama productions. What Nigeria has on her hands in prospect, is a cultural explosion of revolutionary proportions. And yet, this project, has until lately, continued to suffer from fecklessness. A deadline announced by the International

Telecommunicatiins Union (ITU) for compliance with the digital switchover, was famously flouted

by Nigeria. However we were in excellent company as several countries, many of them with excellent pedigree, also missed the deadline. At the end of the nine-year switch over deadline, Malawi, Mozambique, Tanzania and Rwanda had complied. Nigeria fell short!

Funding has been a longstanding demon, and has often threatened to rubbish even the most illustrious of our national initiatives. The digital switchover project commenced in October 2008 with the launching of the Presidential Advisory Committee on the Transition from Analogue to Digital Broadcasting. But after presenting a report in June 2008, nothing was heard from the panel again, until 2012 when the federal government issued a white paper on the report. Government had earlier hinted at June 17, 2012 being the switch over deadline. This did not work nor did the IT- sanctioned date of June 2015. However the first real push began with the inauguration of a 14-man panel headed by Mr Edward Amana.

Working with the National Broadcasting Corporation, there is now a new resolve to realise the digital switchover.

In this new era of dynamism, considerable progress appears to have been made and the

NBC is charging forward. It is good to know that the digital switchover has been launched in Abuja and also in the Jos area. Popular expectation is that phase by phase, the entire nation will ultimately be covered. An important element of this process is also the nomination of signal distributors. The understanding of the public is that one distributor emerged from the NTA with whom it has a historical association, while the other has emerged from a diligent bidding exercise. This has kicked up a bit of dust within and outside the National Broadcasting Commission. This should be expected, given the continental and corporate jealousies produced by the competition for digital patronage.

There is already a growing concern that Nigerian airwaves are being increasingly dominated by expatriate entities. The inclusion of Pinnacle Communication as one of the signal distributors should reduce the anxieties of those who hanker after increased Nigerian participation in our economic life. But this should not produce needless sentimentality or a tolerance for non-optimal performance. It is therefore good that Pinnacle has rolled out in Abuja, Kaduna, Gombe and has deployed transmitters and equipment in 12 sites across the federation.

We live now in a more liberal environment

in which national economies encourage the indulgent presence of foreign entities and assets.

But not so long ago, the governing orthodoxy was that Nigeria needed to control the commanding heights of the nation’s economy. This was the rallying cry behind General Gowon’s indegenisation decree of 1972. This put corporate discretion dominantly in the hands of indegenous Nigerians in the management of enterprises. This changed the face of corporate Nigeria significantly and placed control in Nigerian hands.

We are not going back to the barricades to fight off expatriate domination but we require to be on our guard. And one of our endangered frontiers is the broadcast environment which now seems to be threatened by an armada of foreign programmes and foreign entities. We do not plead an indulgence of mediocrity or a reduction in standards. But it is becoming obvious that the Nigerian assertiveness in the digital switchover project is beginning to challenge the comfort of the expatriate lobby. They should be told to get off and seek solace elsewhere. The digital switchover is a huge project and contains even huger prospects for changing the national economy and creating employment. We have already lost enough time. Let us maintain a steady gaze now and follow the project to the end.

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EDITORIAL Death And Consumer Goods There is a compelling need to enlighten farmers and retailers on how to preserve food

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he recent panic over beans, a popular staple food, has deepened the urgent need for the education of farmers and retailers on the proper way to preserve many of our food items. The worry came as result of the public health implications of misapplied chemicals on food consumers. A video had gone viral on how some retailers were using Sniper, a powerful insecticide, to preserve beans before bagging it for sale. The practice is reportedly common place, often used to eliminate or protect beans from weevils’ infection. It has also been established that other food items like banana, plantain, corn, sorghum, apples and vegetables are improperly preserved or hurriedly ripened with dangerous chemicals.

Sniper, a dichlorovinyl, available across the counter, is a dangerous chemical used for killing bugs and insects. Indeed, the Coordinating Director of the Nigeria Agricultural Quarantine Service, (NAQS) Dr Vincent Isegbe said sniper is injurious to health, if applied as a pesticide. “Sniper in beans is a material equivalent of death in pot,� he said. “So, it may not be an exaggeration USEFUL AND RELEVANT to say that sniper in INFORMATION beans is a weapon of mass destruction.�

FROM PLANTING TO Calcium Carbide, HARVESTING AND another dangerous PRESERVATIONsubstance used by SHOULD BE PASSED welders, is also often ON TO FARMERS AND used by many retailRETAILERS MANY OF ers in the ripening of WHOM ARE UNAWARE banana and plantain and other produce OF THE RISKS for quick money.

The revelation on beans has brought to the fore the grave dangers many innocent Nigerians are regularly exposed to on a daily basis. Over the years, hundreds of families had perished after the consumption of contaminated food items either at home or at parties.

The causes of many of these deaths were never accurately determined, but it is becoming increasingly

Letters to the Editor

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clear that some of them could have been caused by wilful contamination of foods. “Why are so many people going down with liver, kidney and lung failure?� asked Audu Ogbeh, Minister of Agriculture and Rural Development. “Nobody knows exactly which particular misconduct of ours is leading to the damage of the health of our people. Add all that to bad water that people are drinking in the communities then you can see why our life expectancy is so low�.

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DIRECTOR, PRINTING PRODUCTION

ome of these problems are obvious or at least have been pointed out by others. But most absurdly, we have done little or nothing about them. In 2015, for instance, the European Union (EU) banned the exportation of beans from Nigeria on the grounds that the level of pesticide was dangerously high. The ban still subsists. Many of our produce shipped out at great cost have also been rejected and shipped back because of their mode of preservation or shelf life. Some of the meat and poultry sold in the open market are reportedly preserved with dangerous chemicals. “They inject chickens and make them look so nice and attractive.

But people will rather go for them or even dig up buried ones by customs because they free meat� said Ogbeh of the harmful chickens and related foods smuggled across the borders because of the manner in which they are preserved.

There is therefore the crying need to ďŹ nd an enduring solution to ensure that the food we put on the table or the ones we export meet with minimum standards. Last week, Ogbeh called on the National Orientation Agency (NOA) and other regulatory agencies to collectively ensure proper public awareness on the right use of chemicals. The National Agency for Food and Drug Administration and Control (NAFDAC) must be well positioned to live up to its responsibilities. The agriculture ministry itself could do a lot better by ensuring that useful and relevant information - from planting to harvesting and preservation- is passed on to farmers and retailers many of whom are unaware of the risks.

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OUR SOLDIERS AND THE METELE TRAGEDY

he recent massacre of our soldiers by Boko Haram at Metele in Borno State will forever remain a disturbing phenomenon in the psyche of men and women of goodwill in our nation. We now regularly lose soldiers in numbers to the terrorists as if our military is one of a stone-age era despite all the claims by the presidency and military top brass that “Boko Haram has been technically defeated�.

Unfortunately for the soldiers, their families and Nigerians, there was no sense of urgency or even outrage from both the presidency and the military top brass as would have been expected. It all looked like business as usual as it took the presidency five whole days before it could muster any sense of responsibility to make a statement on the unfortunate and disastrous incident, and this only followed the outpouring of outrage against the presidency by the citizens for what many thought was the presidency’s lackadaisical attitude towards the fatal fate of the soldiers.

The pertinent questions Nigerians are asking are: how come Boko Haram still had the kind of audacity displayed in that attack on Nigerian soldiers when the presidency and the military top brass had earlier told us that the terrorist organisation had been “technically defeated�?

How come what now seems to be one of the deadliest attacks on our soldiers is coming only days after the Nigerian Army showcased its newly acquired military hardware on its twitter handle, precisely on October 30, 2018, with the following caption: “Breaking News. Nigerian Army receives large consignment of ammunition: The NIgerian Army has received

a shipment of various ammunition to further enhance its operational capabilities and combat efficiency.�

Also, how come this deadly attack is coming only months after President Buhari approved the controversial $1bn for the purchase of military hardware, precisely in April 2018?

At that time, not few Nigerians expressed doubts as to the real reason why that humongous amount was approved by the president singlehandedly without any legislative input as required by our laws. The question many are still asking now is: what happened to that money? What happened to the degraded and technically defeated Boko Haram? Can we still trust our leaders and the service chiefs on this fight against insurgency?

There is the assertion in authoritative quarters that despite the many singsongs of a defeated Boko Haram and how President Buhari and his anointed service chiefs have been directing the affairs of the military, the soldiers themselves have confirmed that their morale is at an all time low and that they are being sent to the war front with weapons far inferior to those of the terrorists, and this is despite all the noise about getting new and sophisticated weapons to prosecute the war against terrorism.

Some of the soldiers who escaped the onslaught of the terrorists have been widely quoted by the media to have narrated the following heartbreaking condition of the army: “See what the Nigerian Army has been doing to us. They brought us here. See how they killed our fellow soldiers, they burnt them inside the tanks,� a narrator in the video said. “This is a Third World vehicle, a tank manufactured in 1972; and Albarnawi broke all of it. They want to use us and we are not getting anything from them. We want to tell the government

of our condition‌.

In August this year, a band of soldiers shot sporadically in the premises of the Maiduguri airport in protest over shabby handling of their affairs by their commanders.

Soldiers are not known to easily lose their cool against their superiors to the extent of openly threatening to shoot them because they always know the consequences of such actions.

But it seems the complacency, lack of management capacity and unfair treatments meted to the soldiers by their superiors were enough for their tempers to so boil over irrespective of the consequences.

The soldiers themselves feel cheated, and they have so declared on several occasions. They have almost always complained about their poor welfare including the nonpayment, and sometimes delay, in payment of their allowances.

The Nigerian soldier is, no doubt, gallant, and has enormous capacity, courage and determination to defend us as citizens and protect our territorial integrity as a nation. But when the enemy parades superior firepower, courage and determination take flight, naturally.

When Buhari appointed a majority of the service chiefs from a particular region and religion, he and his supporters defended it and claimed that even if all his appointees come from one region and religion in a multicultural, multi-religious and multiethnic nation like Nigeria, it means nothing as long as they are competent.

Today, nothing exposes the shallowness and puerility of such appointments.

Jude Ndukwe, jrndukwe@yahoo.co.uk

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WEDNESDAY NOVEMBER 28, 2018 ˾ T H I S D AY

NEWS

Obaseki Walks Osibodu Out of Govt House for Throwing State into Darkness Adibe Emenyonu in Benin City Mild drama ensued at the office of the Edo State Governor, Mr. Godwin Obaseki, yesterday when the governor walked the Managing Director of the Benin Electricity Distribution Company (BEDC), Mrs. Funke Osibodu, out of his office for failing to meet obligations to electricity consumers in the state and throwing the state into darkness for weeks.

This happened when the governor received members of the House of Representatives Committee on Power led by Hon. Daniel Asuquo, who were in Government House on a courtesy visit.

The governor was surprised to see the BEDC boss, whose name was not on the list of expected guests to the Government House, who embedded herself among the National Assembly delegation to gain access to the governor, who has been in darkness with millions of residents for weeks.

Speaking with the delegation after Osibodu had left the gathering, the governor said BEDC has continued to fail in collaborating with the state government to provide stable electricity in the state, instead the company has posed as an obstacle to meeting the goal.

According to Obaseki, “BEDC has been an obstacle all the way. They would not provide electricity and also not allow you to get alternative sources of power.

The state will not allow it.

“As governor of the state, we have lost confidence in BEDC. We don’t want them here. We are in darkness.

Let us remain in darkness until we find people who are capable of delivering electricity.

This is our position.”

Obaseki said despite the fact that the state generates about 600 to 700 megawatts of electricity, the people are still in darkness, wondering how he is expected to explain the irony to the people, who are well aware that they produce a substantial amount of electricity in the country.

He noted that BEDC has failed to recognise that they have to be patriotic and responsible to the state and the country, instead, they have been noncommittal about the issue of power distribution.

“To assist, we set up electricity committee across the local government areas chaired by the Deputy Governor of the state, Philip Shaibu, with BEDC as member to understand the challenge. But BEDC frustrated our resolve to finding a lasting solution to the issue of providing electricity to our people,” he stated.

Earlier, Chairman of the House of Representatives Committee on Power, Hon. Daniel Asuquo, said they were in the state for an oversight function on the activities of BEDC and other players in the electricity value chain.

He said the state consumes half of daily power supply

under the BEDC, noting that the state has the highest number of consumers on the network, which makes it critical to engage the governor and people of the state on the level of service delivery by players in the value chain.

The senator said: “We are here to see how to intervene to ensure that you deliver on your electioneering promises to the people of the state as you are answerable to them.”

In its reaction to the development, the BEDC said the visit by the House of Representatives Committee on Power, in company with officials of the Nigerian Electricity Regulatory Commission (NERC), BEDC, the Transmission Company of Nigeria (TCN) and the

Niger Delta Power Holding Company, was aimed at updating and assisting in finding solutions to the recent power-related issues in Benin.

It said, “The BEDC continues to be a responsive and responsible distributor of electricity across the franchise states of Edo, Delta, Ondo and Ekiti and is committed to serving its customers better.

“In addition, it is on record that out of the nine per cent allocation that the BEDC gets from the national grid, Edo State gets above 40 per cent, while the other three states share the balance. We intend to continue to work towards ensuring that various bottlenecks across the power value chain are eliminated to the benefit of

our customers in all our franchise states.

“As a host community, we shall also continue to support the good people of Edo State in ensuring that an enabling environment that will create jobs and improvement in the lives of the Edo citizens is sustained. It should be noted that Edo State has the highest number of prepaid meters all over the country and with the introduction of Meter Asset Provider by the NERC, we shall further accelerate the metering of consumers with effect from first quarter of 2019 when the scheme is expected to kick off in order to rapidly reduce estimated billing.”

According to the statement, as a stopgap

on the recent reduction in power supplied to Edo State on some feeders in Central Benin, arrangement was made to connect customers on the affected feeders to existing functional ones in a manner that would not overload the system and to provide supply albeit on limited basis, pending when normal supply will resume after the replacement of the repairs of the faulty transformers.

“Several announcements have been made on locations affected. We expect normalising of the situation soonest. We encourage customers to make use of our existing customer complaints channels when there are issues/complaints while we look forward to serving our customers better.”

FG Announces Recovery of N540bn Through Whistleblower Policy Olawale Ajimotokan in Abuja The Economic and Financial Crimes Commission (EFFC) has recovered over N540 billion through the whistleblower policy the federal government disclosed yesterday.

The revelation was made by the Minister of Information and Culture, Alhaji Lai Mohammed, at the 71st General Assembly of the Broadcasting Organisations of Nigeria (BON) in Port Harcourt.

The minister said the EFCC Whistleblower policy which was introduced in 2016 by the Ministry of Finance, recovered over N527 billion, $53 million, and £122,890 respectively.

Mohammed, who was represented by the Director, Public Relations and Protocol, Ministry of Information and Culture, Mr. SunnyAdejoh Baba, said the EFCC similarly successfully launched a major onslaught on the high and the mighty of the society, including senior military officer and their civilian accomplices indicted in shady deals, leading to the recovery of choice assets across the country.

He enjoined the media to align itself with the policies and programmes of the federal government, aimed at ridding the country of corruption, in order to free funds for development projects,

which will uplift the standard of living of the citizenry.

“This effort should not be seen as the sole effort of the president or the government alone. The media has a duty to ensure that the programmes of the government, meant to uplift the lots of the citizenry, are projected as a national cause and not just as that of the president or the administration,” Mohammed said.

He also said the BON General Assembly is taking place at an auspicious time in view of next year’s general elections.

He appealed to the broadcasting organisations not to yield their platforms to the purveyors of hate speech and fake news.

The minister also called on the broadcasting outfits to promote unity, stability and the development of the country.

“Anything short of this would amount to a criminal abdication of a sacred duty which could spell doom for our collective national life.

We have had enough sordid examples to learn from that we ought not to allow a repeat at this critical time of our national development.

“It is therefore of utmost importance that the media and specifically, broadcast media, does not allow itself to become a purveyor of fake news and hate speeches,” the minister said.

AS ANENIH GOES HOME....

LR: Former President, Dr. Goodlluck Jonathan, his wife, Patience , Deputy Senate President, Ike Ekweremadu; and Justice of the Supreme Court, Justice Mary Peter Odili, during the Service of Songs for the late Chief Tony Anienih in Abuja...yesterday

PDP: We areYet to Issue Presidential Campaign Timetable Forum tasks FG, INEC, political parties on peaceful election Adedayo Akinwale in Abuja The Peoples Democratic Party (PDP) has said it is yet to issue its official time-table.

The main opposition party stated that its Presidential Campaign Council led by Senate President, Dr. Bukola Saraki, would soon make public the authentic timetable for the party’s presidential campaign, adding that such information would have the full seal of the party and disseminated through PDP official handles.

The National Publicity Secretary of the party, Mr. Kola Ologbondiyan, in a statement yesterday said: “The attention of the PDP has been drawn to a phony post circulating the social media, purported to be the PDP presidential campaign

timetable.”

“The fabricators of the post even went further to allocate venues and dates for zonal rallies, which they claimed to have emanated from the PDP presidential campaign council.

“For the avoidance of doubt, the PDP clarifies that it has not yet released any timetable or timelines for our presidential campaigns.

Similarly, our party has not yet allotted any dates or venues for our campaigns.”

The leadership of the PDP therefore urged all its members and supporters across board to completely disregard the said timetable on the social media, as it did not emanate from the PDP. Meanwhile, the Patriotic Forum of Presidential Candidates (PFPC) has appealed to the federal government, the Independent

National Electoral Commission (INEC), and the political parties to avoid any acts capable of jeopardising national coexistence in the forthcoming general election.

Its Secretary, Dr. Onwubuya Breakforth, at a press conference yesterday in Abuja, said the aim of the Forum was to engage government to do more on the current state of internal security for the wellbeing of Nigerians and guarantee credible electoral process before, during and after 2019 general election.

He added that the forum which is made up of 40 presidential candidates has also taken it upon itself to interface with the law enforcement agencies, especially the Nigeria Police Force not to interfere with the electoral process or allow itself to be used by any group or person to influence election results in favour of

any particular candidate.

Breakforth, said: “The overall objective of the Forum is to advocate and ensure the delivery of free, fair, credible and violence free election come 2019, as it is most important to have Nigeria united as indivisible entity after the polls.

“We therefore appeal to the government, INEC, political parties and stakeholders seeking political offices on the various political platforms in the forthcoming elections and the electorate to avoid any acts capable of jeopardising our national coexistence and the chance of having peaceful and credible election in 2019.”

The forum also urged the INEC to continue playing its constitutional role as an unbiased and neutral umpire throughout the 2019 general election.

THISDAYt WEDNESDAY NOVEMBER 28, 2018

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T H I S D AY ËžWEDNESDAY NOVEMBER 28, 2018

MIDWEEKPOLITICS

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

A N A LY S I S

The Man Who Wants to Lift Lagos Higher Vanessa Obioha writes that Babajide Sanwo-Olu the Lagos APC gubernatorial candidate may be ready chart a new course that promises to change the narrative of Lagos State

B

abajide Sanwo-Olu was all smiles as he walked into the almost full hall of the All Progressives Congress office in Ikoyi where the conference was scheduled. He took turns shaking the hands of journalists as they introduced themselves to him, even though he was familiar with some of the faces there. Within minutes, he arrested everyone’s attention with his speech.

Prior to the APC Lagos state gubernatorial primary, little was known about Babajide Sanwo-Olu. His last post before he declared his intention to contest for governorship was the Managing Director of LSPDC. Some imagined that he dropped out of the sky.

As his town criers went around town, singing of his towering achievements and advertising him as the right man to rule Lagos state, Sanwo-Olu assumed another identity: Fashola’s Boy. Indeed he is a Fashola mentee. It shows in his manner of speaking. Like Fashola, SanwoOlu doesn’t woo with ambiguous words. He speaks the language of the people, simple and clear. Having worked closely with the former Lagos state governor, Babatunde Fashola as the Commissioner for Establishments, Training and Pensions, it is no news that he knows how to handle his audience, offering pragmatic solutions to problems without blinking or stuttering.

As the fight in the APC Lagos state over who to lead the state intensified, the narrative changed to that of the party’s national leader, Bola Ahmed Tinubu’s political game in the state. Sanwo-Olu became known as Jagaban’s poster boy, a title that the incumbent governor Akinwunmi Ambode once wore like a badge of honour.

If Sanwo-Olu was swayed by these monikers or not, he didn’t disclose at a recent conference.

His answer to such insinuations was for the people to look out for his deliverables. “There will always be narratives about my personality. People will always say this or that but I don’t think that should be the case. It is the case of what you can deliver. My record shows my achievements in the past nine years.

I have done a lot which made these people with pedigree believe in me.

It goes to confirm who I am to a lot of these people. These are people that have worked with me, that I have worked with, that know my character, what I stand for, my capabilities of who I am, and what I can achieve,and what I have done. So it’s not just what we are saying, it is because we have worked, and we’ve earned it. Everybody that had issues with the party, directly or indirectly, I know all of them. We’ve all been together for 18 years. So, for them I was not like a card liner in any of the position. I’m a people’s person, so we can bring all of our burden, and we can all resolve it. And that is what I think I will bring to the people.�.

To be sure, Sanwo-Olu is not new to politics or governance. Though he is a surveyor by profession, he has been working in the corridors of power since the former deputy governor Femi Pedro appointed him as his Special Adviser on Corporate Matters in 2003, a title he disclosed was formed by him to specifically see how government and private sectors can work together. He has attained other positions along the line and even after leaving government in 2011, still played active roles in some government dealings. Under the Ambode administration, he headed the Lagos State Development and Property Corporation (LSDPC) where he once again made landmarks in his ability to make more money for the department without taking a kobo from the government. He glowingly told the newsmen that if anything, he has been paying dividends

OFF THE CUFF: r0O UIF A"NCPEF *TTVF MFU NF TUBUF JU here that there is no Ambode issue. He is my governor. We are one party and our goals are the same. A better and greater Lagos is our challenge Sanwo-Olu clearing the air on the rumoured hostility between and Lagos State Governor Akinwunmi Ambode r8IFO * MPPL BU NZ FYQFSJFODF JO QVCMJD service, I realised that God has prepared me for this moment. I believe that my contribution

Sanwo-Olu

to the state. He also acquired knowledge in the area of government administration and civil responsibilities at the United States’ John F. Kennedy School of Government.

Some of his notable public sector achievements include the supervision of the Bureau of Public Enterprises (BPE) privatization projects.

He set up and was the Pioneer Board Chairman of Lagos Security Trust Fund. The LAGBUS System and the Control & Command Centre in Alausa were subsequently established under his directives.

With just few months to the general elections, Sanwo-Olu has already rolled up his sleeves, ready to take up the herculean task ahead of him should he win the election in February. The following days will see him barnstorming as he prepares to face off his number one contender in the state, Jimi Agbaje of the People’s Democratic Party (PDP). He recently paid a visit to the Oba of Lagos state, Rilwan Akiolu who urged him to work for the people of Lagos through good governance that will improve the quality of their lives. “Asiwaju Bola Tinubu started a very good work in Lagos and fought for the interest of Lagos. Babatunde Fashola also did very well and Akinwunmi Ambode who is presently in is also doing well. When you get to office by the grace of God you must carry on with the good work of your predecessors and take Lagos to higher level of development.�

Like previous governors, Sanwo-Olu comes with the message of ‘igbega Eko’ (to lift Lagos higher).

To do this, he has to curb the issue of traffic, housing and waste management confronting the state now.

Lagos is already groaning from overpopulation. Accommodation is costly while walkways and under bridges have been deployed as shelters by the vagrants of the society. As a surveyor, Sanwo-Olu offers ways to resolve the housing deficit. First of all, there is need to study what the deficit really is. “It is real that there is a huge housing deficit.

The solution is not a one mega solution that will fit all. We are dealing with the study to actually determine what the deficit is. Part of the things that I talked about while in LSPDC is creating financing. That’s why I said it was the private sector people that was putting money into public sector intervention. We will bring about some of the extinct model back. You can

very quickly accelerate development with the private sector but with government policies.

We also need to realise that the Lagos that we are dealing with, is the Lagos that have 1/3 of its very small 367,000 sq km, as water. Lagos is also a city that is below the sea level, covered all by water. There is an ecological issue that we need to do it. It is pretty different from when you go to some other places in Ogun, and Oyo state, where you take half a metre and dig down and start your building. The moment you want to build two, three floors, you begin to have issues around soil texture, you begin to have issues around what kind of foundation.

We always run away from this conversation and say affordable house, affordable this, affordable that. What exactly is affordable house? is there anything called affordable rod, is there affordable iron works? If I’m going to do for you a two storey building, I’m expected to use 16mm iron steel, will I bring that down and use 8mm instead? Well, I know that I know the challenge of building that and I know the effect of that. Or if I’m supposed to mix four bags of cement with half a ton of granite, and I mix it up, and I know in six months or thereabouts, it will crack. So, what exactly is affordable? We need to stop navigating these areas and let us have narratives that are proper; we can put all of those things well. “What we should be saying is not that housing is affordable, but something that can meet the economic indexes of Lagos bracket of people. Let us look at the economic index of civil servants, let’s look at the economic index of middle market, let’s look at the economics of urban middle market, and the very poor. I have been uniquely opportuned to have been to a city called BogotĂĄ, in Columbia. And part of the things that I have realised that we have not done well, is how to transfer title. If you can transfer title very well, you can unlock all the potentials that our city needs in housing. And what do I mean? If someone that is in Badia, if the man know very well that he can get a title at no cost to him, he will be able to put a commercial appreciation. The moment you have a title, there’s a commercial value already. . We are not going to relax, and sit back and to say to you 100,000 housing estates will be built. You know when we were in school then they said housing for all by year 2000, then they took it to 2010 again, now it’s 2022. All of those things are narratives that people talked about. If you

to the public service made it possible to be appointed as acting Commissioner for Economic Planning, then Commissioner for Commerce and Industry and later Commissioner for Establishment and Training. My public service career has crowned the glorious achievements of my journey to the private sector where I had worked in the financial industry Sanwo-Olu explaining the perceived divine intervention in his trajectory as a public servant r* TIBMM JNNFEJBUFMZ FNCBSL PO GVMM SFTUPSBtion of the glory of the state and make the people the cornerstone of government. I will restore the environment that has become the source of seri-

ous anxiety to Lagosians. I will relieve residents of Lagos State of the persistent gridlocks and hiccups that has made life nasty and brutish for all of us Sanwo-Olu making promises on some of the things he hopes to accomplish if elected governor of Lagos State r.Z BQQSPBDI XJMM OPU CF UP TMJOH JOTVMUT CVU to provide solutions to the problems of the day Sanwo-Olu replying to an allegation against

by Govenor Ambode r* UIJOL JU JT JNQPSUBOU UIBU * BMTP UIBOL UIF executive governor of Lagos State, Mr Akinwunmi Ambode for a good fight. I want to thank

go to Bogotå in Columbia, they have the best title model. How do we give titles to somebody who has shops? You have a building that has six shops, how do we give titles to them? World bank will always come and say that we need to do this or that. I was there in LSPDC, they gave us some money to do drainage system but it could still not solve 30% of anything that they gave us. It is research, it is consultancy... So you really don’t get hold of the 100% government money that you are taking from them. It is we, we need to think through our own local solution.�

Part of the problem of housing deficit according to the surveyor is waste of space. “I see us wasting a lot of resources. If I go to your three bedroom, or your four bedroom flat, I see your space, there’s a lot of waste. If you go to London, and you come across a three bedroom flat, you will see once you land, it is there. If your need is two bedroom, why do I need to build four bedrooms? If your need is a studio apartment, why do I need to give you a two bedroom? It is because we have not been asking right questions. It is because we have not been doing the right study to know a need for people. For a population that we are dealing with, we need to interact about these things. It is smart construction. That in itself can give us a 20 to 25% improvements in how we do our work. It is not every flat that must have garden, no, because this is Lagos. You know what a two bed looks like in New York? Our culture must change, understanding of these things must change, we must understand and see that it is not the size, it is the functionality. It is not the size, it is what it does for me.

Also, I’ve been doing research on the difference between shelter and accommodation, and what do I mean? If you go to your very, very sore areas, they’ve done it in other country, you have what we call shared services. Have my room, you have your room, and they properly built it, we have a shared kitchen. That’s what a megacity needs. At the Ileya festivals and likes, if you want to go to your palace in your other state, you can go. You have all of the rooms, 20 rooms, you have the space there. Once you come here, everything is measured. Those are some of the narratives that we need to have, that is what we give us that availability.�

He reiterated his point that there is nothing like affordable housing and using substandard materials is unacceptable. However, he disclosed that there is an ongoing conversation with some Korean companies to provide smart models that can help them address the issue properly.

Waste is a monstrous issue which the present administration have failed to conquer.

For Sanwo-Olu, waste will continue to be a conundrum residents change their understanding of disposing waste. “It is an holistic solution that we need to think and come up with. Waste management won’t start from your kitchen, we have to tell ourselves the truth. It has to start with how we sort our waste. We have been talking about it for the past 10 to 15 years. We need to incentify the people so that they will take us seriously. If for example we come and collect waste and it has been sorted, we need to give you a reward, a reward that is beneficial, that is what we are working on. It’s either a token or a ticket if you comply to our rules. We don’t come from the angle of sanction, rather from the angle of a reward so it will help others to want to do it.

In waste management, if you start from good sorting, then you can do recycling.�

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

him for giving us the opportunity, to let this direct primary come to stay and we were able to have it. I want to thank him. I want to wish him the very best in the remainder of his tenure as the executive governor of Lagos State Sanwo-Olu praising Governor Ambode for his role in the Lagos APC gubernatorial primary r:PV IBWF BMM XPSLFE UJSFMFTTMZ GPS UIF MFWFM we are now. I am indeed grateful and appreciate all your efforts. Lagosians, with what you have done for me, I cannot take you for granted. I will cherish it for the rest of my life Sanwo-Olu promising not to take Lagosians for granted

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T H I S D AY ˾ WEDNESDAY NOVEMBER 28, 2018

POLITICS

ADC Presidential Candidate Condemns FG’s Plan to Borrow More Money

CUPP Accuses Presidency, Akpabio, IGP of Plot to Disrupt Akwa Ibom, Impeach Udom

Segun James

Udora Orizu

The presidential candidate of the African Democratic Congress (ADC), Mr. Obadiah Mailafia has said that it was treasonable for the federal government to source huge loans to build a railway line to the Niger Republic.

He said that such action does not make economic and political sense.

Mailafia, an economist who worked with the Africa Development Bank said this while fielding the questions on The Morning Show on Arise Television. He said that the decision was foolish and of no economic value to the nation.

Mailafia who was a former deputy governor of the Central Bank of Nigeria (CBN), said that even though he could not stop government from borrowing as it makes economic sense to do so, he however stressed that “it was foolish to borrow at commercial market rate to build a railway to another man’s country. It is a mark of insanity in my view.

Those who do that sort of thing might as well go and live in Niger, if that is what they want.

I have nothing against Niger, I speak fluent French and I have visited the country many times.

“We have good relationship, but it does not make sense and I consider it treasonable to borrow

money to build railway leading to another man’s country. It is an act of treason as far as I’m concerned. We should borrow, but we should borrow only for capital expenditure.”

He said that the government recently borrowed over $1.2bn which was frittered away and could not be accounted for. He said given the opportunity, his administration will not allow wastefulness.

Mailafia said that ministers, director generals and other top government officials would sign a performance contract, adding that those who fail to perform would be shown the way out.

He lamented that the All Progressives Progressives (APC) government in the country was leading the nation to hell with its kind of policies, adding that they the party has lost the moral credibility to govern the country.

He stressed that the APC does not deserved a second term.

“Their Next Level is the next level to hell, if we allow these people. This is the worse government in bigotry. They don’t deserve a second term. They don’t have the capacity. They don’t have the capability to lead this country. They have divided us along ethnic and religious lines.

They’ve lost the moral credibility and the moral legitimacy to govern this country.”

The Coalition of United Political Parties (CUPP) has accused the presidency, the Inspector General of Police, the National Chairman of the All Progressives Congress (APC), Comrade Adam Oshiomhole and Senator Godswill Akpabio of being behind the alleged failed plot to disrupt Akwa Ibom and Impeach Governor Udom Emmanuel with five sacked law makers.

The organisation’s National Spokesperson, Ikenga Ugochinyere, said opposition parties received with shock the news of another display of impunity and legislative rascality by five suspended members of the Akwa Ibom State House of Assembly,

who he said, are apparently being sponsored by Senator Godswill Akpabio, the APCled federal government and other anti-democratic forces desperate to impeach the state governor, Emmanuel Udom.

According to him, “We are more worried that these five lawmakers and their pay masters could unleash this mayhem on the State House of Assembly for the second time in less than two weeks without any arrest by the police and other relevant security agents in the state.”

“We heard on good authority that hoodlums imported by these sponsored five lawmakers, forced their way into the legislative house at the early hours of today with the aid of police men

drafted by the Inspector of General of Police (IGP) Mr. Ibrahim Idris, the National chairman of the All Progressive Congress (APC) Adams Oshiomhole to destabilize the state Assembly.”

He stated further, that the five suspended State Assembly members with the support of the police forced their way into the chambers to first sack the speaker, elect a new one and thereafter constitute a committee to commence impeachment proceedings against the state governor.

“This desperation by the APC to take over Akwa Ibom state even ahead of 2019 general election is capable of leading to a repeat of the unfortunate political drama that truncated our

democracy in 1983. We will not seat down and allow Akpabio and his APC sponsored agents to destabilise Akwa Ibom State Assembly and by extension create another political recipe for a possible collapse of our democracy,” Ugochinyere said He urged the people of the state to be vigilant and never allow Senator Akpabio, and the APC to remove the speaker or governor in an undemocratic manner. He also called on the United Kingdom, the United States of America to place a visa ban on Senator Akpabio, APC National Chairman Oshiomole and the Inspector General of Police and any other politician involved in the sordid drama.

Ezekwesili Expresses Readiness to Fight for Rights of Nigerians The Presidential candidate of the Allied Congress Party of Nigeria (ACPN), Dr. Obiageli Ezekwesili, has expressed readiness to fight for the rights of Nigerians and eradicate poverty in the country.

She said this at a dinner in Lagos where Ellen JohnsonSirleaf, former president of Liberia, endorsed her presidential ambition.

During the dinner, which was organised by Women in Successful Careers (WISCAR), Ezekwesili narrated her age-long friendship with Sirleaf, part of which was her role as a senior adviser on economic reforms to the ex-Liberian president.

The ACPN presidential candidate explained that the exemplary leadership of Sirleaf showed that when “a woman stands up to say ‘I want to lead’, she is ready to serve.”

Ezekwesili said that Nigerians needed “a leader that is willing to give their all in character , competence and capacity to serve the people and take the country out of stagnation, mediocrity and cycles of failure in the hands of old order politicians.”

According to her, women and youths must find their voice in our country, and demonstrate that they are fed up of poor quality leaders who have held the country down regardless of which political party holds sway.

“It is time to vote them out so we can build a prosperous, stable and harmonious nation where everyone has equal opportunity to do well,” she added.

While urging Nigerians not to give up on the country, she

said, “It is either we all resigned to hopelessness, surrendered and said thank you Nigeria, you defeated us, or we did one more thing; and that is, to mobilize ourselves as citizens and elect as President in 2019, a person whose track record of service to Nigeria and Nigerians is well known.

That person is Oby Ezekwesili.”

“I detest the bad leadership by old order political class while the country totters. I am therefore ready to mobilise my fellow citizens to fight for Nigerians.

Nigeria needs all of us to fight for her rescue from the grips of those who are planning to be re-elected or elected again so that they can fail even more and watch more citizens join the already 87 million extremely poor Nigerians.

“The 2019 election is our opportunity to say ‘No’ with finality. It is truly now over for those who cannot offer any innovative ideas for the development of our country.

“In recent time, we haven’t seen people break out of poverty as it used to happen. A lot of our politicians and elite like me all had the opportunity to break out of poverty through access to education. Sadly these days, our people are trapped in poverty and parents cannot give qualitative education to take their children out of poverty. It is an entrapment that we must urgently destroy. ” She warned that Nigeria cannot make progress with the increasing rate of poverty and declared that she was ready to rescue Nigeria from mismanagement.

ANOTHER FEATHER TO HIS CAP

L – R: Lamido of Adamawa, Alh. Dr. Muhammadu Barkindo Aliyu Mustapha,former Vice President & PDP Presidential Candidate, Alh. Atiku Abubakar and Speaker, House of Representatives, Rt. Hon. Yakubu Dogara at the special Durbar in honour of the new Wazirin Adamawa Alhaji Atiku Abubakar at the Lamido’s Palace in Yola

Group Urges Media to Project Women in Politics Udora Orizu The Women in Media Development Initiative (WIMDI) in collaboration with Women in Politics Forum (WIPF) and Centre for Democracy and Development (CDD) has urged media organisations to make concerted efforts in projecting women who are contesting for elective positions in the 2019 general elections.

The President of WIPF, Ebere Ifendu while giving her remarks at the ‘Media and Elections Campaign: Gender Responsive Reporting’ training for women journalists, in Abuja stated that there was a need to forge a good relationship with the media to project female candidates.

She said, “Women in politics need visibility from the media. The

2019 elections are just around the corner, we have women candidates and the major thing we need from the media is visibility. 80 percent of the women contesting actually don’t have money to pay for visibility but you can do a lot to project them. The media are the greatest people in this country and all over the world that can influence voters.”

“If you present our candidates as women that can win and deliver, the populace will listen, but if you are not talking about them and you are projecting only the men, that’s why you hear people talk about, this election being about Buhari and Atiku.”

Ifendu lamented that nobody is really talking about Oby Ezekwesili, who according to her is more articulate and qualified than

Buhari and Akitu.

“We have a woman as articulate and as qualified as Oby Ezekwesili contesting and nobody is even talking about her. Why are saying that it’s just between Buhari and Atiku. Oby is very qualified and if you ask me more qualified than the two but we are not talking about her. This an opportunity for us to interact with women in politics and then the media.”

She further said that the gender and equal opportunities bill is before the parliament and nobody is talking about it because women don’t have the number, adding that they had to still go and beg the men but they always stand against their desire to have the gender and equal opportunity bill passed.

Ifendu appealed to the media organizations to project the female

candidates, by giving them serious publicity.

“We hope to get partnership with the media for serious publicity of the female candidates.

The women are ready to be interviewed. Let’s work together lets project our women, let’s see what we can do in having more women in governance. We lost during the last primaries, instead of having more women contesting next year, the numbers dropped due to party politics, internal party democracy that’s lacking, the high cost of forms and so much harassment and intimidation. So the few women that are contesting I don’t want to hear that they didn’t win the election. Also appointive positions are there, if we project this women, government will see that’s need to appoint them.”

SDP Candidate Alleges Plot to Substitute His Name Sylvester Idowu The House of Representatives candidate of the Social Democratic Party (SDP) for Warri Federal Constituency, Chief Monday Keme, has raised the alarm over an alleged plot by some unnamed politicians to substitute his name as the party’s candidate in the 2019 general elections.

Keme, who, however, did not mention names of those behind the plot, noted that the plan was to substitute his name as the duly elected candidate of the party during the primary for one of the aspirants who failed to pick the ticket of another political party in the area.

Addressing newsmen in Warri, the SDP candidate called on the state and national leadership of

the party to resist the plot to replace his name as the candidate of the party.

“Sometime in August 2018, the National Working Committee of the SDP met and issued Notice of the 2019 General Election where interested members of the party were requested to purchase Expression of Interest and Nomination Forms starting August 20th to September 7th,

2018.

“As an interested party member, I bought the forms and submitted to the party through the Delta State Chairman, Hon. Oke Idawane.

“On September 28th, 2018, I appeared before the party screening committee in Asaba and was screened and issued a certificate as the only candidate of the party in Warri Federal Constituency.”

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

On the Martyrs’ Trail: Christianity's Darkest Hour, Uganda's Brightest Moments

Unspeakable Cruelty: The magniďŹ cent Martyrs Shrine in Munyonyo, Kampala, belies the troubled past, depicted in the sculpture of the mutilated body of St. Andrew Kaggwa Emmanuel Ukpong

A

round 1886, in the Kingdom of Buganda in present day central Uganda, 45 young Christian men defied a ruthless king and refused to renounce their faith. Their fate was unspeakably gruesome: they were burnt alive, beheaded, castrated and dismembered. Of the 45 martyrs, 22 were Catholic, while 23 were Anglican.

They are now known as the Martyrs of Uganda.

It is said that while the early missionaries sowed theseed of Christianity in Uganda, it was the blood of the martyrs that actually watered it.

Given the record-keeping limitations of 19th century Uganda, their inspirational stories would have been lost. In the 1920s, witnesses to the brutalities were tracked and identified, making them of great interest to The Vatican. Perhaps the most famous of them was Dennis Kamyuka. Kamyuka, one of the few who narrowly escaped martyrdom, lived to tell the story, passing on at the age of 90. The most credible witnesses were invited to The Vatican in Rome, were their accounts of the martyrs’ torture and executionswere

documented in graphic detail.

Since then their story has captured the imagination of the world. In Uganda, Martyrs’ Day (June 3) is a public holiday to commemorate their sacrifice. Three Popes (Paul IV in 1969, John Paul II in 1993 and Francis in 2015) have visited to pay their respects. Shrines have been built in their honour. Universities, schools, churches and institutions have been named in their honour.

Following the Catholic Church’s stringent verification processes, all of the 22 Catholic martyrs are now saints. The martyrs have become a big drawfor faith tourism in Uganda, pulling in 60 million people yearly and millions of dollars in much needed foreign exchange.

A Dominant Presence The Catholic Church has built a vast network of faith tourism infrastructure to support the inflow.

Yes, the Catholic Church. The Mother Church has an unquestionably dominant presence throughout all of Uganda. Nearly 70 per cent of Uganda’s population of 40.10 million (2018 estimate) is Catholic.

The largest bank in the country (Centenary Bank) is Catholicowned. Its investment in human resources and support infrastructure

is massive: well-developed martyrs trail, a museum, martyrs shrines, tour guides, helpful literature and signage, publications and documentaries, efficient transport system, to name but a few.

In short, the Ugandan Martyrs has become a viable industry in its own right.

Close collaboration with the Uganda Tourism Board (UTB) means tourists and pilgrims can enjoy an absorbing spiritual journey, retracing the footsteps of the martyrs. Pilgrims can relive the arrest, torture, the slow and painful death match of each of the martyrs.

It is also a great opportunity to soak in the sights and sounds of some this magnificent country, from Kampala, the bustling capital city to Jinja, the source of the River Nile. UTB offers London-style city tour services, and there is so much to savour. Uganda’s 93, 065 sq. km sits in the rainforest. It means lush vegetation, picturesque houses shrouded in green trees, sugarcane and coffee plantations stretching endlessly on either side of the highways, dense tropical forests, giant avocado and mango fruits.

And then there are hills of Kampala, originally seven hills but now 21.

Where the Saints Went Marching

On‌.

For a true feel of the martyrs’ ordeal, we kicked off our tour from the Munyonyo Martyrs’ Shrine in Kampala. A fitting point to start because this was where King Nwanga in May 26, 1986 summoned the people of Bugunda to his palace to set off an orgy of unutterable torture and mass executions. Separating the Christians from the rest, King Nwanga uttered the infamous words, “Those who do not pray stand by me, those who do pray stand over there.� Fifteen young men stood apart. The king asked them again if they wanted to remain Christians. They answered with an emphatic “yes.� He then summarily condemned them to death.

Three young men – St. Denis Ssebugwawo, 16, St. Andrew Kaggwa, about 30, and St. Pontiano Ngondwe, 38 – were the first to be martyred. It was a slow, painful and ghastly death. Denis, a prominent member of the Church choir, was the first to pay the supreme price for Christ.

As soon as the king handed down the harsh judgment, the torturers and executioners took charge. In the chilling words of Elizabeth, our guide, “Denis was just bleeding and they took him around and showed

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Elegance: The GhaddaďŹ Mosque, an architectural masterpiece in the heart of Kampala, seats up to 15,000 worshippers other Christians what was going to happen to them if they continued their faith. When they started their journey, it was the same day of 26th May of 1886. He was beheaded in the morning and in the afternoon it was discovered when they were going on their journey along the road that other martyrs were killed the same day.â€? Denis Ssebugwawo is now the patron saint of musicians and choirs.

Andrew was beheaded and cut to pieces in Munyonyo.A statue stands at the exact spot where he fell. Pontiano, a guard at the royal palace, was speared. As he bled slowly, he begged his captors to finish him off but they refused. They wanted other Christians who witnessed or heard of the gruesome executions to have a rethink. It had the opposite effect; it strengthened their resolve instead. Pantiano bled to death several days later. His statue, complete with a spear on itschest, stands in the shrine. Another monument featured two sword- and machete-wielding solders leading two exhausted martyrs on a journey of no return.

The Munyonyo Martyrs’ Shrine is set on a hill surrounded by a dense forest. According to Elizabeth, the thick trees predate the dark era of the massacre but test results were being awaited to establish their exact age. The tropical forest was on the verge of losing its virginity, no thanks to a two-lane highway being constructed through it. The Shrine is also home to a magnificent Cathedral completed in 2016 following groundbreaking in 2015 by the visiting Pope Francis. Inside the 1,

600-seater auditorium, we saw five pilgrims on their knees, all deep in meditation and completely unaware of our presence.

Like all good tour guides, Elizabeth encouraged us to visit the souvenir shop on the grounds of the Cathedral. It was well stocked with items ranging from rosaries to wooden carvings of the Virgin Mary. The colourful rosaries caught our attention. Remi, the Managing Editor, picked two rosaries and asked for the price. I was jolted when the attendant replied, 30, 000 apiece. She meant UGX30, 000, not N30, 000. And one USD could fetch you as much as UGX3, 744.

Meaning we only needed to pay $3 or roughly N2, 400. So, heart, be still. We snapped up a pair and left substantial change in Ugandan Shillings for charity – a perfect way to show our appreciation for our time at the Shrine. Time to leave, but not before Elizabeth stressed the point that a parish priest was not only a Nigerian by the name Father Cyprian but also a “very nice gentleman.�

One up for Nigeria.

In Love with Nollywood The good feeling wasn’t going to last. Regina, our UTB guide and Vincent, our driver saw to that— by introducing football into our conversation. No big surprise here: It was the eve of the Word Cup in Russia, downtown Kampala was brimming with giant digital billboards promoting various product tie-ins andNigeria had announced its final team list. So, with the global soccer fever in the air, they were eager to remind

us that Nigeria has never beaten Uganda in any competitive football match. As I am more familiar with rocket science than the beautiful game, I looked at Remi to rescue us from the Ugandan duo. But Remi’s expressionless look seemed to suggest they had a point. “Do you know the only time Nigeria can beat us?� Regina asked, cashing in on our momentary vulnerability. “The only time Nigeria can beat us is if you cheat or bring Patience Ozokwor to come to the field and do juju!� That set off an uncontrollable, all-round laughter in the tour truck.

Another one up for Nigeria, the “juju� part notwithstanding.

Like most Ugandans, Regina and Vincent had seen many Nollywood movies and knew all the big stars.

Their dream was to meet Aki and Pawpaw. Vincent had a memory stick full of Nigerian music plugged permanently on the dashboard.

From Davido to Tekno, tunes after tunes blared endlessly from his audio system. Mind you, they were not trying to impress us: Nigerian music and movies are truly popular in the East African country.

We had no way of confirming this, but the word around town was that Ugandan girls love Nigerian men. Andquite unlike their Nigerian counterparts, who they claim worship money, Ugandan girls are all for the care and attention.

As we maneuvered our way through the hilly and winding streets of Kampala, we came face to face with the magnificent Uganda National Mosque. A stunning architectural masterpiece, the mosque

sits on the Kampala Hill and is visible from much of the capital city.

It seats up to 15, 000 worshippers with provision for another 1, 000 in the gallery. It is also known as the Gadhafi Mosque, apparently in honour of the late Libyan strongman, who donated it to Uganda in 2006. The beautiful mosque attracts worshippers as well as tourists. The word on the street was that Gadhafi had a mistress in Toro, one of the Kingdoms in Uganda, and built the mosque partly as a monument to the romance. Grateful Ugandans have since returned the compliment, honouring him with Col Mohammed Gadhafi Way just opposite the mosque.

We almost got carried away admiring the imposing mosque before our guide sounded the alarm, “Watch your phones and bags!� We were in no particular danger but the warning was repeated at distressingly regular intervals, particularly as we entered the busy part of Kampala Road. It was quite a scene: young men parading menacingly; snarling traffic; shops and shoppers; the heavy presence of financial services institutions; sleek telephone and electronics outlets;trucks barely out of the way, disgorging their wares; all enveloped in the humidity of the tropical rainforest.

And what better time to be reminded that it was nearly lunch break. So off to one of the finest Indian restaurants in Kampala.

Can you smell the curry? r&NNBOVFM 6LQPOH "WJBUJPO BOE 5SBWFM KPVSOBMJTU XSPUF JO WJB FNNBOVFMVLQPOH!HNBJM DPN

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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; Former Military Governor of Lagos State, Rear Admiral Ndubuisi Kanu (rtd); author and celebrant, Mr. Bala Yesufu; his wife, Anita Yesufu; Chairman of the occasion, Aremo Olusegun Osoba; and Permanent Secretary, OďŹƒce of the Deputy Governor of Lagos State, Mrs. Yetunde Odejayi, who represented the Deputy Governor, during a Lecture to mark Mr. Yesufu’s 60th birthday and the public presentation of his book entitled: “ Export Architecture Roadmap,â€? held at NIIA in Lagos,.. recently

L-R; General Overseer, Apostle Joseph Agboli; Wife of General Overseer, Pastor (Mrs) Blessings Agboli, and Head of Protocol, Deacon Onyeka Ezechina, all of the Victorious Army Ministries Int’L at the Church’s Bethel Victory Convention 2018 press conference in Lagos...recently

L-R: Chairman, Mortgage Warehouse Funding Limited, Mr. Sonnie Ayere; Senior Special Assistant to the President on Infrastructure, Ms. Ime Okon; Managing Director/CEO, FMDQ OTC Securities Exchange Mr. Bola Onadele. Koko; and President and Founder, First World Communities Brigadier General Tunde Reis (Rtd.), at the Series II Housing Roundtables in Lagos ...recently

L-R: Glo Customer Care Representatives, Ayo-fasan Temitope; Operations Manager, the Shell Sta Cooperative Investment and Thrift Society Limited, Sunkanmi Faniran; Globacom Regional Activation Manager, Lagos and Ogun, Olufolahan Faseyitan; Business Development. Manager, Shell Coop, Mary Akwuobi and Glo Customer Care, Abiodun Ogunkoya, at the Shell Sta Cooperative Investment and Thrift Society Trade Expo in Marina, Lagos...recently

Senator Magnus Ngei Abe presenting cheque to one of the beneďŹ ciaries of his Annual Law School Support Scheme in Port Harcourt...recently

Tutor-General/Permanent Secretary, Lagos State Education District 1, Dr. (Mrs.) Yinka Ayandele; Executive Director, Business Development, First City Monument Bank (FCMB), Mrs. Bukola Smith and Group Head, Business Banking/SMEs of the Bank, Mr. George Ogbonnaya, during the Lagos Small Business Summit, organised by SME100 Africa and supported by FCMB, in Lagos....recently

L-R: Member, British American Tobacco Nigeria Foundation (BATNF) Executive Working Group, Mr. Innocent Azih; agriculture expert, Dr. Aloefuna Ekenechukwu; Chairman, NEPAD Business Group Nigeria, Chief (Dr) Nike Akande; Communications and Event Manager, BATN Foundation, Tajudeen Akinwande, and Executive Secretary, NEPAD Business Group, Mr. Oluwole Dosumu, at the fourth NEPAD Rice Investment Summit in Abuja...recently

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BUSINESSWORLD R A T E S MONEY MARKET OVERNIGHT OBB

A S

A T

REPO 7.17 % 6.33%

CALL 1-MONTH 3-MONTH

5% 8.88 % 9.08%

Group Business Editor Obinna Chima Email obinna.chima@thisdaylive.com 08024557078, 08152447875

N O V E M B E R S & P INDEX INDEX LEVEL 1-DAY MONTH-TO-DATE

347.03% 0.00% -0.25%

2 3 , 2 0 1 8 S & P INDEX 1/4 TO DATE YEAR TO DATE

-0.08% 5.33%

EXCHANGE RATE N306.70/1US DOLLAR* ĚŠ

Quick Takes LSETF BeneďŹ ciaries Receive Cheques

LagosStateGovernor,MrAkinwunmiAmbode,haspresentedcheques to another batch of over 2,000 beneďŹ ciaries of the Lagos State Employment Trust Fund (LSETF) loan programme, saying it was gratifying that the initiative was meeting the objectives of creating jobs and contributing to the growth of the economy.

Thiswasinadditiontotheover10,000beneďŹ ciarieswhohadreceived morethanN7billionandhavecreatedover25,000newjobsinthelast threeyears.SpeakingatthepresentationceremonyheldatLTVBlue Roof,Agidingbi,Ikeja,GovernorAmbodeexpressedfulďŹ lmentthatthe initiative, which was a brain child of his administration, had positively impacted many Lagosians and help to scale up entrepreneurship with many businesses now thriving. “Today is a historic day. It is one of those days that we have this fulďŹ llment that we tried our hands on something that was never done before and years after, we are able to see the result and I just want to say a big thank you to all of you that have accepted to be partners in this programme and to just congratulate ourselves that a day like this can come in Lagos State.

SUPPORTFOR MSMES

L-R: Chairman, Board of Trustees, Lagos State Employment Trust Fund (LSETF), Mrs. Ifueko Omoigui Okauru; Lagos State Governor, Mr. Akinwunmi Ambode; beneficiary, Mr. Ismaila Sunmonu and Executive Secretary of LSETF, Mr. Akintunde Oyebode, during the cheque presentation ceremony to beneficiaries of the fund in Lagos‌recently KOLAWOLE ALLI

W’Bank: NNPC’s 3-month Deduction for Subsidies Surpass 2017 Disbursement Chineme Okafor The Nigerian National Petroleum Corporation’s (NNPC) deductions from crude oil sales revenue for petrol subsidies in the first three months of 2018 alone exceeded the deductions for the whole of 2017, a report by the World Bank has revealed.

Specifically, the Bank in report titled: “Nigeria Biannual Economic Update for Fall 2018,� disclosed that while the deductions for the 2017 full year totalled N107.3 billion, that for January to March 2018 alone, was a total of N139.3 billion.

The report pointed out that landing and transportation costs for imported petrol continue to be higher than the capped domestic pump price, “giving rise to cost under-recoveries by the NNPC.�

Independent oil marketers have stopped importing petrol since 2016 for this reason. “The volume of petrol imported by NNPC in 2018

ENERGY has been higher than in any other year. During the first three months of 2018, NNPC imported more than half of what it had imported in the whole of 2016. “The need to shore up fuel inventories may have contributed to this, but there have also been widely reported cases of fuel smuggling to neighbouring countries where pump prices are higher than the subsidised price in Nigeria,� it stated.

The report had three broad aims: key developments in the Nigerian Economy in the recent past; assessment of likely economic outcomes in the shortto-medium term given the policy developments and highlights of key short-term risks. In addition, it contained an in-depth examination of selected highly relevant economic policy topics.

It explained that federallycollected revenues were higher

in the first half of 2018 than in the corresponding period of 2017, with both the oil and non-oil revenue components surpassing their levels in first half of 2017 in nominal terms.

The increase in net oil and gas revenue collections, it noted were particularly significant at 140 per cent, mainly on account of higher oil prices in 2018, relative to 2017 which had an average price of $71.3 per barrel. “The oil and non-oil revenues were however lower than the government’s targets. While the oil price was higher than the budgeted price (US$71.3 compared to the conservative oil benchmark price of US$51 per barrel), oil output came in lower than the target (an estimated actual production of 2.0mb/d, compared to 2.3mb/d budgeted).

Furthermore, deductions from gross oil revenues were higher than planned. “The various prior deductions by the NNPC from oil sales (including ‘cost under-recovery’

for unbudgeted petrol subsidies) contributed to net oil revenues in first half being 34 per cent below budget,� said the report.

It further stated: “Available data indicate that NNPC deductions from crude oil sales revenue for petrol subsidies in the first three months of 2018 exceeded the deductions for the whole of 2017.

On how far the country has fared with its plan to exit the practice of engaging joint venture cash call in its oil production business, the report noted that: “The government indicated, since 2017, that it will introduce a new funding mechanism for the joint venture cash call payments (JVCC), allowing for cost recovery by the international oil companies (IOCs). “However, cash call transfers still continue to be made by NNPC from gross oil sales revenue, despite the JVCC not being budgeted for. “The government also indicated Continued on page 24

FGN Savings Bond Offers Retail Investors’Attractive Returns Goddy Egene The Federal Government of Nigeria Savings Bonds (FGNSB) are becoming attractive to retail investors going by the interest rates offered on the security in November.

The interest rates of 13.4 per cent and 12.4 per cent for the 3-year FGNSB and 2-year FGNSB respectively are the highest since October 2017.

Analysts have said the rates are attractive to retail investors compared with the alternative returns from savings accounts offered by Nigerian banks. “The current interest rates

ECONOMY on the FGNSB are also higher than the current inflation rate of 11. 26 per cent (October2018 figure), which means that the real interest rates on the FGNSB are positive. Consequently, retail investors should position for the December 2018 FGNSB auction, which should be open for subscription on Monday, 03 December 2018,� analysts at FSDH Research said.

According to the firm, given the current interest rate movements in the country, FSDH Research expects the interest

rates on the December FGNSB auction to inch up marginally from the levels recorded in November 2018.

The Debt Management Office (DMO) introduced the FGNSB in March 2017 to provide an avenue for low-income earners to earn consistently good returns over time. The security has some benefits, which include the provision of an investment opportunity, offering attractive returns with low investment risk.

The FGNSB is an initiative of the federal government to encourage a culture of national saving among low-income earn-

ers. The FGNSB also helps to diversify the funding sources of the government.

As at June 2018, the FGNSB contributed N8.52bn to the total domestic debt of N12.15trn.

The FGNSB currently offers tenors of two years and three years. The interest rate on the three-year tenor is higher than the two-year tenor. The average interest rate on the two-year tenor between March 2017 and November 2018 was11.79 per cent.

The average interest rate on the three-year tenor between Continued on page 24

.Operators Hail Book on Shipping Majorstakeholdersinthemaritimeindustryandshippingenthusiasts have commanded a book on shipping titled: ‘ABC of Shipping and Ports Operation in Nigeria,’a new publication which will be launched onThursday. Among those who have hailed the book and its author, Mr. Charles Odeyovwi Okorefe, was the Chairman, Nigerian Ports Consultative Council (NPCC), Kunle Folarin, who observed that the book has something unique about the industry. “It has presented the fundamentalandbasicinstrumentstounderstandingtheintricacies andproceduresthatarecriticalfactorstoshippingandportoperations in Nigeria and beyond,â€? he stated.While commending the scope and depth of the publication slated for launch in Lagos, the NPCC boss added: “Students, researchers and lecturers will also ďŹ nd the book usefulandaformidablereferencematerialandguide.â€?ForDeraNnadi, a Deputy Comptroller of the Nigeria Customs Service (NCS), the bookisaninterestingcontributiontothedevelopmentofthenation’s maritime industry, a publication he said would endure the test of time in trade, commerce and ports operation. He added: “Trade and commerce are synonymous with Customs and port operation. In the wakeofglobalisationandexplosionincommunication,management oftradehasadirectcorrelationwithanation’spolitical,economicand environmental security. “For these reasons, this book will continue to be relevant for students, current and intending port users and shipping practitioners so long as world trade remains dynamic.

The author, Mr. Charles Okorefe deserves commendation for this phenomenal piece of academic work.� On his part, Prof. Bamidele BadejooftheGeographyandRegionalPlanningandDean,Facultyof Environmental Studies of Olabisi Onabanjo University, Ago-Iwoye, Ogun State.

Dakuku, Others for PFSO Conference

The Managing Director of the Nigeria Ports Authority (NPA), Hadiza Bala-Usman,Director-General,NigerianMaritimeAdministrationand SafetyAgency(NIMASA),Dr.DakukuPetersideandtheComptrollerGeneral of Customs, retired Col. Hameed Ali, are among dignitaries expectedatthe2018NationalConferenceofthePortFacilitySecurity OďŹƒcers (PFSO) Forum of Nigeria holding in Calabar, Cross River State. The PFSO Forum is the body of government and private sector top security oďŹƒcials responsible for the protection of lives and properties at the seaports in Nigeria. The National Chairman of the PFSO Forum, Emmanuel Onyebadi, in a statement, said the conference, which would hold on 29th and 30th November 2018, has the theme: “Integrated Maritime Security Architecture: A Panacea for Economic Growth in Nigeriaâ€?. Onyebadi, said the event is to provide an avenue for top port security oďŹƒcials to brainstorm of ďŹ nding ways of improving on security situation at the seaports, terminals and jetties across the country. He said the members of the PFSO Forum have maintained a high level of professionalism since the group was formed after Nigeria ratiďŹ ed and complied with the provisions of the International Ships & Ports Facility Security Code (ISPS Code) 14 years ago.

“I am going to have a moratorium on foreign borrowing. This is because it is unnecessary, it is a lazy man’s’ economics. In Nigeria, we have 200 million people with a big economy, so if you can’t generate income internally, it means you are not doing something right�

Presidential Candidate, YPP,

Prof. Kingsley Moghalu

“T o o t

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W’BANK: NNPC’S 3-MONTH DEDUCTION FOR SUBSIDIES SURPASS 2017 DISBURSEMENT through its 2018 budget plans to restructure its ownership (equity) in joint venture oil assets to reduce the joint venture costs to the Nigerian government. It is not clear how much progress has been made on this front,� added the report.

Continuing, the report stated: “Net accrual to the Excess Crude Account (ECA) in first half of 2018 was negative. This was despite the fact that actual oil prices were higher than the budget oil price benchmark (i.e. the assumed oil price used to prepare the federation revenue framework) of US$51 per barrel. “The ECA was established on the basis of Section 35 of the federal Fiscal Responsibility Law which stipulates a commodity (oil) price-based fiscal rule requiring that savings should accrue to the ECA if the price exceeds the budget benchmark. “However in recent past, FGN SAVINGS BOND OFFERS RETAIL INVESTORS’ ATTRACTIVE RETURNS April 2017(when it was introduced) and November 2018 was 12.73 per cent. The FGN pays the interest on the Bonds on a quarterly basis.

As a result, the FGNSB is a more attractive investment option than a savings account as it is exempt from all forms of tax and offers a higher interest rate than a savings account. “An additional benefit of the FGNSB is its relative liquidity as investors can trade the Bonds on The Nigerian Stock Exchange (NSE) if they wish to sell before maturity.

Our findings show that the volume of FGNSB available for trading at the NSE is small. “Therefore, stockbrokers and the DMO need to do more sensitisation programs than are currently being done to create an active secondary market for investors to trade their bonds. Also, an investment in the FGNSB may be used as collateral to borrow money in any financial institution in Nigeria,� FSDH Research stated.

Group Business Editor

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

ÙÎÎã Ă‘Ă?Ă˜Ă?

AgriBusiness/Industry Editor

Ă™Ă˜Ă‹ĂžĂ’Ă‹Ă˜ äĂ?

Comms/e-Business Editor

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

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

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

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

Bad Road Threatens Completion of N3.5bn Baro River Port Eromosele Abiodun Despite promise by the past managements of the Nigerian Inland Waterways Authority (NIWA) to fix roads linking river ports in the country, THISDAYS findings have revealed that bad state of the road leading to the Baro river port, Niger State is threatening the completion of the project.

The complex, which was awarded at N2.5billion while the cargo handling equipment worth about N1.5billion was completed in 2016, is yet to be commissioned. Also, some cargo handling equipment are yet to be installed due to the bad condition of the road leading to the port.

The former acting Managing Director of National Inland Waterways Authority (NIWA), Mr. Danladi Ibrahim said in a chat with journalists recently that the Baro river port Niger state, had been completed and was ready to start operations.

The N3.5 billion Baro River port awarded under the administration of former President Goodluck Ebele Jonathan between 2011/12 at a cost of N2.563 billion to Messrs CGGC Global Projects Limited.

However, since the completion, the contractor handling the installation of Cargo handling equipment has not been able to deliver it due to the bad state of the roads.

It was gathered that no one could access the river port by road as it has been cut off by gullies which made the road un motorable even by motorcycles.

For instance, the access road leading to the river port from

the Gegu express way in Kogi State is not motorable and requires urgent rehabilitation by the federal government if the project is to be of any economic value to the nation.

The Managing Director of First Index Nigeria Limited, the contractor handling the installation of the Cargo handling equipment at the River Port, Mr. Opeyemi Olabanji explained that they are going through serious challenges because of the deplorable condition of the access road. He said they cannot move their cranes and other cargoes to the port, noting that

the cargo handling equipment are very heavy and the trucks carrying the equipment cannot pass through the bad road.

He, however, hoped that the federal government will see the need to urgently fix the road for the interest of the nation and for evacuation of the handling equipment to the river port.

Olabanji, however, urged the federal government to commence permanent solution to the dilapidated access road if it wants the river port to be in proper use and contribute to the development of the country.

He said: “I commended

NIWA for the palliative measures they are putting to make sure the equipment arrives at the river port but emphasis must be made for a lasting solution to the deplorable condition of the road. Baro River Port, which is considered as the flagship port of the Northern part of the country cannot function as it is now.�

A top management staff of NIWA had told newsmen that the port has remained unused because of the bad state of the road. According to him, “Much fund has been invested in the Baro River Port project running

into over N3.5billion.

It is embarrassing that the port still remains unused, simply because the major road leading to the port is impassable.�

He, however, urged the federal government to urgently ensure that the road is captured in the 2019 budget of the country to allow the river port to be put in proper use and halt the deterioration. When contacted, the General Manager, Corporate Affairs, Tayo Fadile confirmed that the River Port has been completed in 2016 but has become un accessible due to the bad state of the road.

AWARD WELL DESERVED

L- R: Group Head, Non-Interest Banking, Sterling Bank Plc, Basheer Oshodi; Company Secretary/Chief Legal Counsel, Justina Lewa and Divisional Head, Commercial Banking,Tunde Adeola, at the Pearl Awards held in Lagos‌recently

Our Investment in LPG to Reduce Gas Emission, Says Matrix Energy Sylvester Idowu in Warri Matrix Energy Limited has said its investment in the Liquefied Petroleum Gas (LPG) in Nigeria is more of social responsibility with the ultimate aim to raise awareness of energy consumers to cleaner and cheaper energy.

The Chief Marketing Manager, Mrs. Toyin Sowumi who disclosed this recently at a ‘Meet Your Customers Forum’ in Warri also said it was targeted at minimising effect of global warming.

She said besides the fact that

the company decided to assist the federal government to take more Nigerians away from dirty and dangerous energies sources, it targets helping to beat down the greenhouse gas emission.

According to her, Nigeria has one of the lowest LPG user figures in Africa, with about 66 per cent of domestic and industrial energy consumers still relying on firewood, a practice that has steadily worsen deforestation and attendant negative climate change in the country.

To achieve the target of taking the LPG consumption rate in

Nigeria from about 600 metric tons per annum to around two million by the year 2025, Sowumi said Matrix currently supplies 30 per cent of LPG distribution across Nigeria and also deployed 65 LPG trucks to deliver to its customers in different parts of the country and planning to procure more for easy distribution of product. “We called the forum, among other things, to encourage those who are into the LPG business and support them as much as possible. Also, we are trying to support the climate

change campaign, to ensure that the effect of the greenhouse emission is reduced. You know that LPG is a cleaner source of energy.�

In his contribution, the Terminal Manager of Matrix Group, Mr. Rapheal Biu said the forum was to create awareness on cleaner and cheaper energy. “We want people to be aware of its benefits; it is cleaner and cheaper and from the records of the Nigerian Bureau of Statistics, we now know that 66 per cent of Nigerian population still uses firewood,

which means deforestation, all these increase the greenhouse emission. “We want to make sure that while meeting our present needs, we don’t jeopardise the livelihood of future generations, a way to do that is to promote and encourage the use of LPG�, he said. Biu disclosed that currently, the consumption rate of LPG in Nigeria is about 600 metric tons per annum and the per capita for Nigeria is about 2KG, which is still very small, compared to other African countries.

Adeyanju Hails Private Terminal Operators over Improved Welfare Eromosele Abiodun The President General of the Maritime Workers Union (MWUN), Comrade Adewale Adeyanju has praised private terminal operators at the nation’s seaports for their effort at improving the welfare of dockworkers.

Adeyanju, who stated this while speaking with newsmen in Lagos, said dockworkers now enjoy much better working condition compared to what was obtained in the pre-concession era. Operators, he stated, have substantially increased the wages

earned by dockworkers from an average of N10,000 before the 2006 port concession to about N150,000 today.

According to him, “Before concession, they are just using us as slaves in our fatherland.

Nobody can talk about what his take home pay was. Sometimes, some people get between N10, 000 and N20, 000 per month but today, it has improved tremendously to between N100, 000 and N150, 000. It has increased tremendously.�

Adeyanju, who lauded terminal operators for increasing the wages of dockworkers in spite

of the low volume of import in the country, appealed to the federal government to urgently fix the dilapidated port access roads, which he said, is adversely affecting port operation and the nation’s economy.

He said: “The roads to the seaports have contributed to most of these problems and it has had adverse effect on our members. Because of the bad roads, some of the vessels that are supposed to come to the port are sometimes diverted to neighbouring countries. “Some of the dockworkers are on payment by tonnage; some are

on permanent employment while some are on unit payment. For those on payment by tonnage, it is the higher the tonnage, the better payment for them so the bad road is affecting our members.�

The union leader, however, appealed to the terminal operators to urgently sign the Collective Bargaining Agreement (CBA) for a review of retirement benefit for dockworkers. “We are not being rigid in negotiations so that we can accommodate both the employer and the employee. We are not demanding so much because we

felt all of us are working together.

If the economy is improved, the lives of the workers will also improve. We don’t want to be rigid in our negotiation and that is what is causing the delay now. “I need to appreciate the terminal operators for calling us for review of the collective bargaining agreement that we are doing now. They have offered something reasonable which has been approved by both parties but the areas concerning us is the (dockworkers) retirement benefit that should be paid by the operators and not the stevedoring contractors,� he said.

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Group Harps on Investing in CooperativeVentures Peter Uzoho and Oluchi Chibuzor The Cooperative Rating and Award Society of Nigeria (CRASoN), has stressed on the need for the federal and state governments as well as private entities to commit financial resources and technical knowhow into cooperative ventures.

Speaking in Lagos recently, ahead of its award night, the Chief Executive Officer, CRASoN, Mr. Victor Oyegoke, said the association focuses on monitoring and tracking cooperative societies in Nigeria in other to weigh their impacts on Nigerian economy and boost their capacities.

Oyegoke, explained that cooperative societies has the capabilities to turn around the economy of Nigeria for better, noting that the sector contributes significantly to the country’s economy going by the number of persons it em-

ploys in productive ventures.

According to him, cooperative societies hold well above N5 billion as its share of the country’s gross domestic product (GDP). He maintained that government should take cooperative business very serious, as according to him, such elevates the world by helping in poverty alleviation in line with the Sustainable Development Goals (SDGs).

He said: “Most great nations rose to where they are through cooperative enterprises, and a good number of them give top priority to the activities of its cooperative societies as a driving force of their economy. “We want government to channel recovered looted funds into cooperative businesses by supporting existing ones especially in the agricultural sector with finance, an enabling environment, and technical know-how to revamp the economy.�

Oyegoke, further called on the national assembly look into the Nigerian Cooperative Act with a view to reforming it, saying the existing one had become outdated, as it was last amended in 2004. “I enjoin people to come together to think of cooperative ventures (Not political cooperatives) as a viable and feasible means of making impact to oneself and the economy as a whole. We are doing everything possible to take Nigeria’s cooperatives to meet up with international counterparts of great economies�, he said.

Oyegoke, however, stressed that CRAoS, in collaboration with the Federal Ministry of Agriculture and Rural Development, and the Department of Cooperatives would award some outstanding cooperative societies and some key stakeholders that have contributed immensely to the growth of cooperative enterprises.

FoodCo Launches Staff Scholarship Scheme FoodCo Nigeria Limited, a diversified consumer goods company with interest in retail, fast food and manufacturing has announced the commencement of its staff scholarship scheme.

This is as the company plans to launch an additional scholarship programme for secondary schools in Oyo State before the year ends.

Executive Director of the company, Mr. Ade Sun-Basorun, described the scholarship scheme as a personnel development initiative aimed at empowering FoodCo employees to actualise their personal and professional aspirations even as they add value to the organisation.

He said: “We initiated the FoodCo Staff Scholarship Scheme in response to some of the challenges that staff go through in attaining their quest for higher education. “We have noticed that over time, many of our staff desire to further their education but are confronted by

financial constraints that either limit their dreams or make the journey unduly challenging. “Recognising the value they bring as internal stakeholders of the company, we decided to provide the financial intervention as a way to encourage them in their aspirations and also to show appreciation for the excellent work they do for the business. “Presently, the scholarship is open to staff with Ordinary National Diploma who wish to further their education and have spent at least two years in the company. We are excited to do this because we are a company that places premium on staff welfare as well as human capital development in Oyo State,� he added.

Founded in 1982 as a fresh food stall in the Bodija area of Ibadan, FoodCo has since grown its operations to become the largest supermarket chain in Oyo State and second in south-west Nigeria, outside

Lagos. It also boasts the biggest and longest running restaurant chain in the city, a feat management attributes to the hard work and dedication of the company’s over 400 employees. Twenty well performing associates, who qualified were awarded the scholarships. And it is expected that more staff will become eligible in subsequent editions.

Similarly, Sun-Basorun also announced that the company has concluded plans to offer scholarships to secondary school students in the community. According to him, “Beyond awarding scholarships to members of our staff, we will also kick-start a scholarship program for secondary school students in Ibadan. We are also excited about this because the good people of Ibadan have supported the FoodCo brand all through our 36 years of operations and this is the very least we can do in appreciation.�

Guinness, FRSC Commence Safety Campaign Jonathan Eze Guinness Nigeria Plc in partnership with the Federal Road Safety Corps (FRSC) have commenced the “Ember months� Responsible Drinking Awareness Campaign.

The initiative is a special road safety programme to curb recklessness on the roads during the last quarter of the year through to the Christmas-New year festive season.

Both organisations have consolidated this partnership over the years, culminating in the yearly “Ember Months� programme, during which motorists and the public in general are enlightened about the dangers of drink-driving, especially during the last quarter of the year (Ember

Months) when celebrations, festivities and human and vehicular traffic tend to be at their peak.

Guinness also donated Breathalyser kits, a device to test if motorists are driving under the influence of alcohol, to FRSC at the event.

The ceremony, which took place in Benin, Edo State was attended by the Road Transport Employers Association (RTEAN), National Union of Road Transport Workers (NURTW), the FRSC Zonal Commander, Kehinde Adeleye, officers and men of the Federal Road Safety Corps, Guinness Benin Leadership Team and the members of the press.

During the event, Everest Oghonim, Packaging Manager, Guinness Nigeria Plc said:

“Guinness Nigeria Plc, is the only truly Total Beverage Alcohol Company in Nigeria that has maintained its leadership position in creating awareness about responsible drinking through various programmes and partnerships with different stakeholder groups; customers, consumers and employees.�

He further said that, “Guinness Nigeria has partnered with the FRSC since 2004 when the first awareness programme on responsible drinking was organised and both organisations have continued to strengthen this relationship by jointly hosting the annual ‘Ember Months’ programme during which motorists and the public are educated about the consequences of drinkdriving.�

ELEVATING TO THE NEXT LEVEL Marie-Therese Phido

When it isTime to Move On I remember when I knew it was time to move on from my job. One, I was no longer fulfilled with the job I was doing and secondly, it had stopped becoming part of my long term plans. Many of us are in this same situation but do not know how to plan our next step.

According to Jacquelyn Smith of Forbes and Teri Hockett the chief executive of career site What’s For Work? says some employees know when they’ve reached a point where it’s time for a change, “because they reflect on a regular basis to ensure their job aligns with their long-term goals.�

In Smith’s article, “14 Signs Its Time to Leave Your Job�, she says, as for others, they don’t realize they’re unhappy with their job until someone points it out to them, or they realize they spend too much time at, or outside of work being unhappy about their position, she adds. “It’s the topic that keeps them up at night thinking, what should I do? They consult with friends and family, seeking advice, to validate their reasoning.

They know the answer, which always involves change, but the difficult part is making the change itself.�

While, “Sara Sutton Fell, CEO and founder of FlexJobs, says some people are able to see the signs that it’s time to leave their job, and they’ll either try to improve the situation, simply gripe about it, or go into denial that the situation isn’t as bad as they think.

But others are unaware of the signals that it’s time to get out, she says.�

According to Sutton there are signs that it is time for you to leave your job and if you have multiple of these signs below, you need to give it strong consideration.

You lack passion. I dripped with passion when I was very into my job.

But the day I started to lose interest all of the passion ebbed away and the work became a real drag. What saved me before it started to affect my performance evaluation was that I was head-hunted and that quickly gave me a way out, if I had not gotten that way out, it would have been very detrimental to my career.

Where you want to be is having a spring in your footsteps and jumping out of bed to go to work every morning because you are excited about the possibilities of the day. Jumping out of bed in excitement was where I was for many years. Lynn Taylor, l workplace expert and author of Tame Your Terrible Office Tyrant; How to Manage Childish Boss Behavior and Thrive in Your Job, says if you’re not doing what you love, you will never tap your true potential. “It will just continue to be ‘a job,’ and eventually each day will seem more of a grind.�

You’re miserable every morning. Quite simply, you dread going into work, Sutton Fell says.

You’re consistently stressed, negative, and/or unhappy at work. If you get anxious or unhappy just thinking about work, that’s a good sign that it’s time to move on, Sutton Fell says.

Your work-related stress is affecting your physical health. “The work, people, or culture is unhealthy, and it has a negative impact on you physically and mentally,� Hockett says. “The stress is present both inside and outside of work; it’s consuming. Your family and friends are affected by this, too. Stress affected me so negatively, that it was terrible to be around me. I was angry all the time. � Taylor says when work starts affecting your health–physical,

mental, or both–it’s time to get out.

You don’t fit in with the corporate culture and/or you don’t believe in the company anymore. “You feel that there are ethical or moral differences in how the company and you believe the firm should operate; cultural differences; work ethic clashes, and so on,� Taylor says. Whatever the issue, you’re morally misaligned with your employer, and it’s an uncomfortable workplace setting.

Your work performance is suffering. If you’re no longer productive at work, even though you’re capable of performing the task(s), you might want to start looking for new work, Hockett says.

You no longer have good work-life balance. When you find that you’re spending less time with your family because of work, or you cannot commit the necessary time to your job, you should consider looking elsewhere, Sutton Fell says.

Your skills are not being tapped. Management doesn’t acknowledge that you have more to offer than what you’ve been contributing for a significant amount of time, you’ve been passed over for promotion, or attempts to take on more challenging assignments have failed, Taylor says. “No one has said anything, however, you are no longer getting the plum assignments, you are no longer asked to attend key meetings, or your proposals are met with silence or denial,� Hockett adds. “These are signs that you should be looking for a new opportunity.�

Your job duties have changed/increased, but the pay hasn’t. Sometimes there’s a good reason for this—but Sutton Fell says it’s usually a sign you should go.�

Taylor says. That’s especially true if the company is performing well, but it’s not reflected in your salary or other rewards.

Your ideas are not being heard. If your ideas are no longer heard or valued; you can’t seem to get time with the ‘powers that be’; or you cannot get approvals or acknowledgment for great work, think about finding a new job, Taylor says.

You’re bored and stagnating at your job.

If you’re not growing or learning anything new, it might be time to leave, Sutton Fell says. Hockett says when you’ve outgrown the position and there is no opportunity for advancement–or you seem to work the same job day in, day out without any opportunity for growth, even though you crave more–it’s time to get out.

You are experiencing verbal abuse, sexual harassment, or are aware of any type of other illegal behavior. If you’re the victim of bullying, sexual harassment or other egregious behavior, you should certainly keep an eye out for other positions, regardless of what corrective measures you’re taking, Taylor says.

Once you realize it might be time to leave your job, you’ll first want to set goals for yourself detailing what you are looking for in terms of responsibilities, company culture and compensation. Give yourself a timeline for exiting and work assiduously towards doing so, after you have looked at the pros and the cons and sought counselling to ensure that it is all not in your imagination.

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

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As Flour Mills Gets Buy Rating Despite the negative impact of theApapa gridlock that affected its half-year performance, analysts see huge potential in Flour Mills of Nigeria Plc, writes Goddy Egene Flour Mills of Nigeria Plc (FMN) is a leading manufacturer of food and agro-allied products. The company has a highly diversified product base with huge potential to deliver good returns on investments. Although the company has been recording positive results over the years, it ended the half year(H1) to September 30, 2018 with lower bottom-line due to the general difficult economic environment, the Apapa traffic and logistics challenges.

The company announced a revenue of N269.737 billion and profit after tax(PAT) of N5.069 billion for the H1 2018. FMN recorded a 49 per cent increase in selling and distribution expenses to N4.13 billion, compared to N2.77 billion of the same period last year, as it increased its marketing spend.

Administrative expenses rose to N9.852 billion, compared with N8.352 billion, while finance cost fell from N16.267 billion to N11.229 billion in 2018.

The reduction in finance cost came as a result of settlement of overdraft facilities and replacement of high interest yielding loan facilities with cheaper loan facilities. Investment income grew by six per cent to N290 million, from N270 million of the same period as last year. The increase was due to short-term investments. However, profit before tax fell to N8.392 billion, from N13.477 billion while PAT stood at N5.069 billion as against N9.355 billion in 2018.

Company explains performance Commenting on the result, the Group Managing Director of FMN, Paul Gbededo, said: “In the face of persistent economic challenges and a difficult operating terrain, we continue to pursue our growth strategy to gain market share in all key product segments. Operations in Apapa continues to suffer major setbacks in traffic and logistics challenges, impacting in a marginal drop in our volume and top line activities.

With improved marketing and promotional activities for most of the key food businesses, we envisage new gains in the remaining part of the year, as we continue to focus on innovative products that deliver on great consumer experience.�

Gbededo had said the company’s focus remained on growing and building long-term value for stakeholders, following the successful raising of N39.9 billion through a right issue early this year. “The Rights Issue is aimed at strengthening our balance sheet and positioning the Company for sustainable growth. We value the strong level of support shown by our shareholders and our focus remains on growing and building long-term value for all stakeholders,� he said.

Analysts’ Assessment Looking at the results of the company, analysts at FSDH Research, said the financial performance of FMN Plc suffered from the temporary tough operating environment in H1 2018. They explained that the gridlock in the Apapa area of Lagos,where the company has its main business operations has increased the cost of running the business and increased delivery time. According to them, the weak purchasing power and the weak economic performance in Nigeria have had negative impacts on the operations of the company.

The analysts said the drop in revenue was as a result of the company’s strategy to focus on market leadership. “This means an increase in volume of sales in some product categories at lower selling prices in response to lower input cost. Thus, customers received more value for their money. Our analysis of the company’s revenue by business segment shows that food accounted for 64 per cent of the company’s total revenue. The company’s cost of sales (COS)decreased by 9.63 per cent to N237.62 billion from N262.93 billion in H1 2017. Despite the decline in COS, gross profit decreased by 9.56 per cent to N32.12 billion in H1 2018 from N35.51 billion in H1 2017. Its COS as a percentage of turnover remained flat at 88.09 per cent in 2018 from 88.10 per cent in 2017,� FSDH said.

The company said it was mostly as a result

of increased marketing activities geared to boost the top line. “FSDH Research believes the difficulties in moving goods around the country especially in Apapa because of the bad transportation system contributed to this. However, reconstruction work is going on to ease traffic in the area,� it said.

The company’s Earnings Before Interest and Tax (EBIT) decreased by 34.71 per cent to N19.24 billion from N29.47 billion in 2017 The company recorded a net finance charge of N10.94 billion in 2018, a decrease of 31.60 per cent from N15.99 billion in 2017. “This was a reflection of debt refinancing through the Rights Issue as well as a drop in interest rate in the market. The PBT fell by 38.4 per cent to N8.30 billion in 2018 from N13.48 billion recorded in 2017. The PAT was N5.07 billion in 2018, from N9.36 billion in 2017, representing a decrease of 45.81 per cent.

The gross profit margin increased marginally to 11.91 per cent in 2018 from 11.90 per cent in 2017, while the EBIT margin decreased to 7.11 per cent from 9.88 per cent. Similarly, the PBT margin decreased to 3.08 per cent from 4.52 per cent while the PAT margin decreased to 1.88 per cent in 2018, down from 3.13 per cent.

Balance Sheet A further analysis of FMN Plc’s balance sheet position as 2018 compared with full year (FY) March 2018 showed an improvement in

In the face of persistent economic challenges and a difďŹ cult operating terrain, we continue to pursue our growth strategy to gain market share in all key product segments. Operations in Apapa continues to suffer major setbacks in trafďŹ c and logistics challenges, impacting in a marginal drop in our volume and top line activities

the company’s cash position. The company took advantage of the Real Sector Support Facility (RSSF) during the period. This is a strategic move to access low cost long-term funding available in the market to support large corporates that are in critical segments of the economy. The total fixed assets decreased by 0.26 per cent to N217.33 billion in H1 2018 from N217.90 billion in FY 2018. The cash and bank balances increased by 20.09 per cent from N22.25bn in FY 2018 to N26.71 billion in H1 2018.Trade debtors increased in HY1 2018 by 20.7 per cent to N15.94 billion, from N13.21 billion in FY 2018. The company’s trade creditors increased by 6.68 per cent in H1 2018 to N49.7 billion from N46.59 billion as at FY 2018. FMN Plc’s working capital stood at a negative N5.67 billion in H1 2018 from a negative N25.54 million in FY 2018. The company’s net assets for the period increased marginally by 0.63 per cent to stand at N151.57 billion in H1 2018, from N150.62 billion as at FY 2018. The total assets of the company which stood at N408.71bn as at HY1 2018 were financed by a mix of equities and liabilities in the ratio of 37.08 per cent and 62.92 per cent respectively.

Also, an analysis of the liabilities showed that the short-term liabilities stood at N180.48 billion, accounting for 70.19 per cent of the total liabilities. The short-term liabilities constituted mainly of borrowings and trade and other payables, which accounted for 53 per cent and 38 per cent respectively of the total short-term liabilities.

Borrowings decreased by 8.42 per cent to stand at N95.17 billion in H1 2018. The company’s long-term liabilities stood at N76.67 billion accounting for 29.81 per cent of the total liabilities. Long-term liabilities constituted mainly of long-term borrowings, which stood at N45.26 billion representing 59 per cent of total long-term liabilities and a 54.08 per cent increase from FY 2018.

Although the company recorded an improvement in the net cash flow, its net cash generated from operating activities dropped significantly to N39.75 billion from N69.75 billion in 2017. The cash used up in financing activities dropped from N65.60 billion in 2017 to N 8.19 billion in 2018.

Strategic Focus FMN aligns itself to take full advantage of the agriculture agenda of the FGN, which enables it to consolidate its position in the food product and ancillary business. The company invests in backward integration

initiatives by reaffirming its commitment towards future profitable growth via recapitalisation of various subsidiaries. The Kaboji Farm, its first agricultural investment has turned out to be a centre for seed and best agricultural practice in maize and soya bean.

The company has also entered into a strategic partnership with Corteva Agriscience, agriculture division of DowDuPont.

According to FSDH, the collaboration is expected to lead to both parties working together on key aspects of the maize value chain in Nigeria, with a focus on promoting modern farming techniques and practices, capacity development and knowledge transfer for the local production and use of improved and quality inputs, including seeds and crop protection.

Forecast In their forecast, FSDH considered positive factors such as FMN Plc’s product diversification, enjoying economies of scale; backward integration into agro-allied and farming activities, numerous investments in high profit margin products; anticipated growth in revenue despite challenging environment; import substitution focus and wide distribution network.

The analysts also looked at negative factors such as the prevailing stiff competition in the industry; the current weak consumers’ spending; security challenges in some parts of Nigeria and possible currency devaluation “Looking at the medium to long-term outlook of the company and the impact of the aforementioned factors, we are of the opinion that the impact of the positive factors would be higher on both the revenue and the profitability of the company than the negative factors. We therefore estimate a turnover of N501.06 billion, N512.75 billion, N570.86 billion, N635.56 billion and N694.87 billion for the periods ending March 2019, 2020, 2021, 2022and 2023. We estimate EBIT of N33.86 billion, N37.21 billion, N41.43 billion, N46.12 billion and N50.43 billion, and EBITDA of N37.13 billion, N41.01 billion, N45.81 billion, N51.15 billion and N56.17 billion for the same period using EBIT margins of 6.76 per cent, 7.26 per cent, 7.26 per cent, 7.26 per cent and 7.26 per cent respectively,� they said.

The estimated their PBT forecasts for the periods as follow: N13.57 billion, N21.95 billion, N27.99 billion, N32.65 billion and N40.63 billion. “Adjusting for tax, our PAT forecasts are N10.11 billion, N16.35 billion, N20.85 billion, N24.32 billion and N30.27 billion. PAT margin for the period are 2.02 per cent, 3.19 per cent, 3.65 per cent, 3.83 per cent and 4.36 per cent. Our forecast final dividend for the FY 2019 is N1.04 per share,� they said.

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Jimoh: Stock Prices Depressed Because of Uncertainty in the Economy The Managing Director/Chief Executive Officer of Coronation Merchant Bank, Mr. Abubakar Jimoh, in this interview speaks about opportunities in the merchant banking sub-sector as well as how developments in the economy are affecting stocks listed on the Nigerian Stock Exchange. Obinna Chima presents the excerpts: What is the state of merchant banking in Nigeria presently?

You know that historically, merchant banks or investment banks generally are designed to operate in the wholesale sector of the economy and also to help significantly with capital market development and in the advisory space. That was what used to be the case even before the exit of most of the merchant banks in the past. Now that the merchant banks are back, we are playing that role. It is a sector that takes time to develop. It is not something that will bring about massive profitability for the operators and shareholders in a short period. Having said that, the five merchant banks that are in operation have done very well. Because we are also not so bullish in terms of taking risk, the quality of assets in the sector is quite high, compared with what is obtained in a commercial bank. So, the health of the merchant banking sector is quite strong and that is good for the economy.

Some have argued the capital market is literally dead considering the low level of activity. Do you agree with that?

The capital market is not dead. You are looking at the stock market. Even when the stock market has come down in terms of performance, that is just a sign of the economic cycle. The economy comes in cycle – bust and boom. Now, we are in a downturn situation. But the companies that are in the stock market are still very much active in the economy. So, you see the likes of Dangote, Seven Up, the banks, they are still in the stock market and not dead. However, the environment reflects on the price of stocks. So, what you can say is that market price of equities is depressed, because of uncertainty in the economy and the fact that we are just coming out of recession. This happens in every economy.

If you look at the United States, the stock market over a three-week period in recent time dropped by more than 2,000 points.

That does not mean the market is dead.

So, if you are going into the stock market, you have to be ready for some capital loses.

But in the long-run, you make more money than just putting your money in savings.

However, as capital market operator, we operate beyond that. So, capital market operation includes to be able to raise money for people that operate in the economy. So, in the last three years of our operation, we have raised more than $300 billion for operators in the market. That means there is still strong support of investors for those companies. We have structured very innovative products that have helped companies that would not ordinarily be able to raise money in a secured manner, on their own. We are happy to have participated in those kinds of offers. So, there are many parts of the capital market and of it is the stock market.

Jimoh controlling more than two per cent of trade volume in Nigeria today. That is significant given the size and age of the bank.

If you are doing more than two per cent of the trade volume, what is your outlook in terms of numbers in the medium term?

We are going to remain a merchant bank, but we are going to focus on trade finance.

Hopefully, we intend in the next five years to be able to control more than seven per cent of trade volume in Nigeria. That is significant given the size of our business and the size of volume that we want to be able to capture in the market.

What is your share of the merchant banking market in Nigeria?

In a number of areas where we play, in the last three years, we have demonstrated that we are leaders in the sector. So, if you take federal government bond trading, we are number three by FMDQ league table, including all other banks and not just in the merchant banking sub-sector. If you take trading in treasury bills, we are about number seven, this also includes every bank in Nigeria. That means we have established ourselves in the area we decided to operate.

Even as a small merchant bank, we are

The economy comes in cycle – bust and boom. Now, we are in a downturn situation. But the companies that are in the stock market are still very much active in the economy

What do you think should be done to encourage lending by banks?

Lending is not just based on the fact that one wants to lend. The environment has to be supportive. I think the level of lending that we are seeing in the banking sector is a reflection of the economy. You lend with the hope that you are going to be able to collect your money back. If the environmental factors do not support that view, then you see people pulling back from lending. Having said that, banks are still lending. Maybe the growth rate is not as high as it should be. Maybe after the election and there is more visibility on the direction of the country, I am sure more banks would expand their portfolio in terms of lending.

What are the reoccurring risks to lending?

The risk is as much as is in the economy.

So, if the economy is not very strong, that means the people that are coming to borrow have higher risks of default. That will influence the kind of decisions that people make on the volume of lending they are going to do. Remember, banks’ monies don’t belong to the bank. A significant portion of it is depositors’ money. And the first responsibility they have is to protect that money, because you don’t want a case where you need to pay your customer and the

loan you used the money for has gone bad. It has a bigger negative impact on the economy. So, you are better off to protect the money, do the reasonable lending you have the capacity to and then you hope that the future gets better and you can expand on your lending book.

As a merchant, are you permitted to lend to the agriculture sector?

As a merchant bank, you are permitted to support all sectors. However, you have to determine your risk appetite and the area where you are able to operate. As I mentioned before, we are wholesale bank.

So, when I am lending in agriculture, I am lending to wholesale firms like Olam and not the retail farmers that operates at the retail level.

What are your key areas of interest?

We are in the areas where the central bank wishes to support. So, we are very strong in manufacturing, agriculture and we have sizable representation in Fast Moving Consumer Goods.

What is your medium-term outlook for the sector?

The merchant banks are going to get stronger, bigger and continue to contribute to economic growth.

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Sankey: Agribusinesses Now Have More Financing Windows The Head of Agricfinance at Diamond Bank Plc, Lois Sankey, in this interview speaks about efforts by the bank to support start-ups in the agriculture value chain.

Oluchi Chibuzor provides the excerpts: What is Diamond Bank doing to support startups in agribusiness?

We are participating in Micro, Small and Medium Scale Enterprises Development Fund (MSMEDF) and the newly introduced AGSMEIS which supports both existing and startup agribusinesses and other SMEs. We are supporting startups including agribusinesses under our BET platform. In 2018, agribusiness was one of the winners of the cash price while, this year an Agritech startup (Beat Drone) was one of the winners at our TechFest event and, we will continue to support more relevant players at start up level across the sector.

Apart from the BET program, is there any other form of support that Diamond bank provides to the agric sector?

We provide significant advisory services at no fees to existing clients and non-clients in the course of our engagements with all our agribusinesses who are seeking financial support irrespective of their relationship status with the bank. Our advisory services are one-on-one and based on the underlying business and proposal presented. Largely, it is focused on business structure, technical competence, market and marketing plans and product quality requirement, among others. We provide a feedback and suggestion on proper financial records, operations, personnel and management as well as available sources of funding and requirements for accessing such funding.

What advice do you give startup in the agribusinesses space who require loans?

We advise startups to find an area they are passionate about, have some knowledge or training on, have a registered business name/company.

They must also have a simple well-articulated business plan supported with cash-flow projections in a simple format. We advise them to approach the enterprise as a business not as a hobby, thus the items mentioned above need to be put in place. These do not need to be complicated; this is what our business seminars and the BET series offers SMEs including agribusinesses who do not have to be our customers to benefit.

How active is the bank in availing the CBN intervention funds such as the Commercial Agriculture Credit Scheme (CACS), the MSMEDF, etc.?

We have been involved in the all the intervention funds, but we have a lot of room to do more and we are working in partnership with tractor service providers, non-governmental facilitating agency and the CBN to increase the availability of fee for servicing agricultural equipment for land preparation, planting, harvesting and processing. This we hope to achieve significant mileage in 2019.

Do you have any form of partnership with NIRSAL and how many farmers have this relationship impacted on?

We are in active collaboration with NIRSAL under the Anchor Borrower Program(ABP) window across six value chains in the north, south and west regions in specific states. The value chains include cassava, rice, sorghum,

We advise startups to ďŹ nd an area they are passionate about, have some knowledge or training on, have a registered business name/company. They must also have a simple well-articulated business plan supported with cash-ow projections in a simple format

Sankey millet etc. In addition, we are in active engagements with NIRSAL on the tractor refurbishing project as well. We would also be working with NIRSAL and Macedonia ginger producer group in Kaduna state in 2019 for end-to-end upgrade of the value chain for export of high quality dried split ginger.

What about partnership with private organisations for capacity building and training on good agricultural practices?

SMEDAN has a mandate to provide capacity building initiatives for SMEs. Farmers need to organise themselves as a business individually and as groups to facilitate access to such services.

There are trained private business service providers (BAS providers) that USAID have empowered to help startups. Aggregators of farmers provide training on good agricultural practices to farmers and we are in collaboration with Farmers online and MTN to provide financial inclusion services to farmers across 10 states under the Diamond Yellow platform, through this platform we also plan to provide basic market information to farmers on specific things like insurance, weather information, input information, etc. What we have seen however is a reluctance by small businesses to engage these service providers and an intervention is required in this aspect to make the services known, accessible and affordable Does the bank have any special consideration for women in agriculture, in terms of pricing, tenure and collateral requirements?

The bank has a woman proposition for all SMEs, including agriculture where they can get our funds at two per cent less than non-women

owned enterprises. Collaterisation for most of the funds is required because we have to provide some collaterals also for the intervention funds available either through treasury bills deposit or direct debit or both. We recently launched a cash-based lending product which provides a certain limit of lending amounts without any collateral but simply based on the business verifiable cash flow. We have lent over N2 billion under this pilot and will scale organically through 2019.

How much has the bank disbursed to agribusinesses in the past 5 years?

Well, over 30 billion, out of which only 20 per cent is intervention funds. This is a significant growth, compared with the N3.5 billion total lending to the sector in 2011.

What processes/infrastructures should be put in place to enhance growth in the sector?

There must be partnerships with actors in the key value chains; value chain financing approach and triangulation of deals involving all actors in the cash to cash cycle. In addition, there is need for access roads to the farming communities to enable easy access to the sources of food production baskets; irrigation facilities for small holder level use at affordable rates and provide training on utilisation of same; the use of mechanisation equipment for land preparation, planting, harvesting and processing of produce in clusters of food baskets. Furthermore, there is need to make provision of more farm gate storage and handling facilities suitable to the focused Vc i.e conditioning centers for perishables like tomatoes, yams , vegetables

etc; farmers must adopt improved technology such as drones to map, plant, apply fertiliser and pesticides and general improvement in the adoption of precision farming and the adoption of the use of improved varieties by farmers and good agricultural practices eg adoption of aflasafe to control and minimize aflatoxin infestation in our produce which is a carcinogen that affects acceptability of some of our produce for export.

Also, the adoption of out grower schemes by the larger farmers to expand hectarage without necessarily owning the land is very important What do you think can make banks to stop seeing the agriculture sector as high-risk sector?

If the above mentioned structural, technical, capacity, environmental and policy issues are better improved, technology and mechanisation can be improved through financing by banks especially if the government policies are tweaked to suit achievement of the mentioned requirements banks are eager to expand their portfolios profitably Farmers have started benefitting from crowd funding schemes which appears to be successful, what message is that sending to the banks and what lessons can be garnered from this?

It is a good development as the agribusiness are having more and more ďŹ nancing windows opened to them.

Recently the sector has witnessed natural disasters, attack on farmers/destruction of farmlands. How do banks structure their support for farmers putting all these into consideration?

All agric loans must be insured to provide a cushion for both lenders and borrowers in the unfortunate event of a flood or similar disasters that negatively impact yield. There is need have more insurance company’s providing this service at affordable rates and be efficient in processing claims to engender adoption and confidence. NIRSAL has brokered the provision of Yield index based insurance where payout is triggered not by the occurrence of an actual disaster but by the failure to achieve projected minimum yield for a particular value chain in a particular location.

FEPSAN Hails Ban on Fertilizers Jonathan Eze Following a total ban recently placed on the importation of all blends of the nitrogen Phosphorous and Potassium (NPK) fertilizers, the Fertilizer Producers and Suppliers Association of Nigeria (FEPSAN) has commended the federal government, saying the move will boost local capacity.

The body further said the move would go a long way in stemming the importation of poor quality NPK fertilizer

blends and protect the soil from toxic fertilizers imported by unscrupulous business people.

In a statement signed by FEPSAN President, Mr. Thomas Etuh, the association said the only way the federal government has demonstrated its commitment to improving agricultural production was by taking such strong step that would position the entire agricultural value chain and allied industries to support the Nigerian economy while widening the already open opportunities for foreign

exchange earnings.

Etuh, said with the initiative alone, the government was already on the verge of saving more than N720 billion in foreign exchange, saved thousands of jobs while also creating the enablers for even more job creation in the agro allied industry.

He stressed that NPK Fertilizer blends from Nigeria are produced with specific soil composition in mind, a situation that, unlike most imported blends which destroy the soil, preserves and

adds value to soil nutrients. “Fertilizer blending plants in Nigeria are growing and have demonstrated capacity to produce exactly what Nigerian farmers need to enrich Nigerian soil for improved food production. “We have demonstrated this and have attestations from farmers to support this claim and when I say we have the capacity, I mean we have such capacity in quantitative and qualitative terms,� he stated.The FEPSAN President added that members of the association already have

installed capacity at more than 20 blending plants spread across the country to produce up to four million tons of high quality NPK fertilizer blends, a figure that surpasses the 1.5 million tons, which the highest volume ever utilized by Nigerian farmers. “We are aware that a lot more Nigerians are adopting agriculture as a business, especially in response to the Federal Government’s drive for food security. FEPSAN, in heeding the patriotic call for food security has placed itself in a position to

ensure Nigerian farmers have all the best quality fertilizer the need. This also places us in a strong position to export to other countries in West and Central Africa, especially since we have capacity to produce more than what Nigerian farmers will need in the foreseeable future,� Etuh continued.

He said government did the right thing because no economy that desires to grow should encourage the importation of what it has capacity to produce and at affordable prices.

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PenCom Boss Charges Compliance Officers on Professionalism Ebere Nwoji The Acting Director General National Pension Commission(PenCom), Mrs. Aisha Dahir-Umar, has charged pension compliance officers to ensure they discharge their statutory roles with the required sense of professionalism, independence and integrity.

Dahir-Umar, who gave the charge at the 2018 compliance officers’ forum held at Uyo, Akwa Ibom State, said the commission organised the forum which the maiden edition held in 2012, in

fulfilment of Section 80 of the Pension Reform Act (PRA), 2014 which requires that Compliance Officers regularly meet and share ideas on how best to optimally perform their functions and promote standards of excellence thereby constructively impacting the pension industry.

She said the commission has done a lot and was still doing much to promote a stable and sustainable pension industry.

Highlighting some of the efforts, the Acting PenCom DG who was represented at the forum by the Head Surveillance

Department of the commission, Mr. Datti Mohammed Yola, said “the Commission adopted zero tolerance for non-compliance and consultative supervisory philosophy in the issuance of guidelines and the review of existing ones to further promote sound corporate governance in the industry and ensure the security of the pension assets.�

She said in addition, the commission had this year moved to a more risk-based approach to supervising pension operators by aligning its supervisory framework with that of the Financial Services

Regulation Coordinating Committee (FSRCC), adding “We believe this will promote better risk management in licensed pension operators.�

She also said the Commission, recently released the framework and guidelines for the implementation of the micro pension scheme, which is targeted at increased participation of employees in the informal sector, the multi-fund structure and revised guideline for fund accounting as well as revised circular for branch opening and service centre by PFAs. According to her, similar to this,

circulars on pension enhancement and processing procedures of deceased benefits entitlement were also released by the commission as she reminded the compliance officers that monitoring and reporting of non-compliance with regards to the implementation of these guidelines and other existing regulations remains part of their responsibilities. She said the forum would therefore focus on reviewing compliance and ethical culture; institutionalisation of Know Your Customer (KYC) processes in the industry; matters of identity theft in data capturing;

emerging risks and its mitigating factors as well as other general industry operational issues. “It is my expectation that this forum will further enhance the capacity of each compliance officer towards the effective discharge of his/her functions. “I therefore urge all of you to contribute positively at the forum and assure you that the Commission would continue with its consultative philosophy, transparency and good corporate governance in the implementation of the Contributory Pension Scheme in Nigeria�, she assured.

NAICOM Embarks on Restructuring, Creates New Directorates Ebere Nwoji The National Insurance Commission(NAICOM) said it has embarked on a major restructuring exercise that will enable it accommodate new directorates and state branch offices across the country.

The commission, said the exercise would also witness the creation of three more directorates to bring its total number of directorates to nine.

The regulator, in a statement to this effect signed by the head, Commissioner’ Directorate Rasaaq Salami, listed the new directorates as legal and liquidation, Inspectorate, policy and regulation and corporate governance , enforcement and compliance. “Under the new structure, three more directorates have been created in the Commission bringing the total number of directorates to nine. “In the same vein, the Supervision and Inspectorate Directorates have been merged into one Inspectorate Directorate while the Authorisation and Policy (A&P) Directorate have been split into two (2) separate Directorates namely: Policy & Regulation Directorate and, Corporate Governance, Enforcement & Compliance Directorate�, Salami said. He said in addition to this,

the following personnel have been appointed to man various positions in the commission: Mrs. Adeshola Obeya has been appointed as the Acting Secretary to the Commission, Malam Adamu Balanti appointed Director of Lagos office, Mr Olufemi Oba Director Finance and Admin,Mr Barneka Thompson, Director inspectorate, Mr Pius Agboola, policy and regulation, Mr Habila Amos Admin and Human Resource Director,Mr Leonard Akan,Corporate governance, enforcement and compliance, Dr Talmiz Usman, legal and liquidation , Mr Adewale Motajo.

Research , Statistics and Strategy and Malam Rasaaq Salami, as L-R: Executive Chairman, XL Security and Protection Services Limited, Charles Nwodo Jnr; Ambassador of Sweden, Inger Ultvedt and Managing Director Commissioner’ office. Director, XL Security and Protection Services Limited, Sylvester Williams, when the ambassador hosted Swedish companies operating in Nigeria, in He said all changes and ap- Lagos ... recently ETOP UKUTT. pointments are with immediate effect, adding that the exercise was part of NAICOM’s efforts at repositioning for better service delivery.

He said the exercise had seen the commission expanding its Lagos, Nigeria, 25 November, by “this purpose called Heritage officers the expectations they want this, control officers exchanged branch network by creating 20 from internal control and audit. ideas on how they work in their 2018: The MD/CEO of Heritage Bank.� additional state branch offices Akamadu also said they used different regions to get results.�

Some of the primary issues Bank Plc, Ifie Sekibo has empha“So when they get back to across the six geo-political zones. sized the importance for human x-rayed at the annual conference the opportunity to review their He also said four out of the capacity development amongst were to ensure adherence to achievements in internal control their bases, they are able to apply existing five zonal offices namely: staff of financial institutions for corporate governance across and audit throughout the year what they had learnt to improve Enugu, Ilorin, Port Harcourt and board, how to attain free fraud and what their challenges had operations for the overall benefit improved operations.

Kano, have been converted to The MD who stated this at transactions, faster and seamless been and what could be done of the bank.�

Internal control, as defined in branch offices thus bringing the a 3-day yearly Internal Control transactions, deepen synergy to improve their operations in accounting and auditing, accordtotal number of branch offices and Audit Conference organised amongst Internal Control Unit the future. of the Commission in the states Besides this, the Chief Audit ing to Wikipedia, the online free

by Heritage Bank in Lagos, said (ICU), Audit & other Units, to to 24. training acquired personally and ensure workable & functional Executive, said the conference was dictionary; is a process for assurarranged by corporate organisa- system, cost cutting, due diligence also a forum where the internal ing of an organization’s objectives tions to individuals is useful not in the process of tickets, cohesion control and audit officers of the in operational effectiveness and only to the person but key to in the working processes amongst bank from all the regions of the efficiency, reliable financial reportcountry get first hand feedbacks ing, and compliance with laws, other key issues. the corporation growth.

Speaking earlier at the event, from executive management regulations and policies while He, however, advised staff participating at the conference Chief Audit Executive of the about what the bank is doing, from a broad concept, internal to be rigorously committed in bank, Prince Akamadu, said the the direction of the bank and the control involves everything that and primary business objective of upholding integrity, as their job conference was where officers of expectations of the management. controls risks to an organization.

It is a means by which an orgaHe said the conference has the bank is to create sustainable qualities define each person’s the bank responsible for internal control and audit across the helped over the years to enhance nization’s resources are directed, value, unique solutions and character. superior economic returns for Also, Sekibo stressed the need country gather together yearly the operations of the bank, adding monitored, and measured. It plays that, “We churn out policies and an important role in detecting and our clients and shareholders. for staff to cultivate savings to review their activities.

He said the conference was also new procedures every time and preventing fraud and protecting Rand Merchant Bank Nigeria culture for their future, whilst have over 15 years of transacnoting that the fate of every staff an avenue where the executive sometime application could be a the organization’s resources, both tional experience in Nigeria of the institution is tied together management of the bank tell the challenge and also at a forum like physical and intangible. ranging from advisory roles on infrastructure projects, mergers and acquisitions to the funding of various transactions across multiple sectors. “We have an extensive The ongoing strategic partner- the country through the Interna- spendings across the nation. The frivolous demand.

Gwadabe, said that on its part, pool of investment banking ship between the Central Bank tional Money Transfer Operations strategic partnership, actions and talent, including fixed income, of Nigeria (CBN) and the As- (IMTOs) forex window has helped pre-actions of the CBN and ABCON has ensured that its currency and commodities sociation of Bureaux De Change the status of the local currency. ABCON have stopped distor- members continue to make dollar experts who understand the Accordingly, the CBN, spot rate tions to the exchange rate due to accessible to critical end-users like Operators of Nigeria (ABCON) Nigerian and broader African has kept the naira stable at both closed last week somewhat flat ongoing politicking and campaign travellers demanding personal and business travel allowances, landscape. the official and parallel markets at N306.75/$1 from N306.70/$1 spending in the country.� “Over the past five years, Continuing, he said the school fees and medical bills despite huge campaign spending in the prior week. Similarly, the we have created a core client exchange rate at the Investors & determination of the central payment abroad among others. by political parties.

Gwadabe, said the ongoing base of solid local companies, ABCON President, Alhaji Exporters Forex window closed bank to maintain the IMTOs multinationals and financial Aminu Gwadabe, was quoted at N364.70/$1. At the parallel forex window for the over ABCON automation and consponsors. Using a targeted in a statement to have said market and BDCs, the naira 4,000 BDCs on weekly basis figuration of soft token for forex approach, we have meaningfully measures initiated by the CBN traded at N363/$1 throughout has brought steady liquidity return rendition by over 4,000 supported our clients through including the sustenance of dollar the week. To this end, Gwadabe in the market and discouraged BDCs nationwide will enhance different economic cycles and supply to over 4,000 Bureau De said: “The naira remains stable unethical market behaviours transparency and financial will continue to do so.

Change (BDC) operators across despite political parties campaign like hoarding, speculation and integrity of the operators.

BUSINESS MEETING

Sekibo Emphasizes Need for Human Capacity Development amongst Staff of Banks

Rand Merchant Bank Wins Award Rand Merchant Bank Nigeria (RMB) has disclosed that it recently won the BusinessDay Merchant Bank of the year award.

The chief executive officer, RMB Nigeria Michael Larbie, while commenting on the feat, was quoted in a statement to have said: “We are proud of our growth and overall financial performance. RMBN will continue to focus on its clients and partner with them to develop new products and solutions. “We intend introduce a wider range of products to suit all our clients’ needs and through that capture their mind share and become a go-to partner for advice, structured financing, lending and trade solutions. “We expect to consolidate on our client relationships and position ourselves as a trusted, hard thinking and solutionist adviser and financier.�

Furthermore, he said the vision

ABCON Partners CBN to Sustain Naira Stability

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Imperative of Financial Inclusion Niyi Ajao The United Nations Development Programme (UNDP) measures human development across countries in three basic dimensions: a long and healthy life, access to knowledge and a decent standard of living.

Financial Inclusion on the other hand focusses on citizens’ access to financial services in such a manner that enables every adult citizen to realise his/her full potential and life aspirations.

Therein lies the obvious correlation between financial inclusion and human development, and this explains the recent buzz and increased activity, in Nigeria and the rest of the world, on growing financial inclusion as a means of lifting citizens out of poverty, improving citizens quality of life and enhancing the capacity of citizens to contribute meaningfully to national development.

In the words of the Consultative Group to Assist the Poor (CGAP), a global partnership of leading development organisations, “Poverty. Inequality. Migration. Financial services are foundational to addressing some of these pressing global issues and achieving a wide array of development goals, as evidenced by an expanding body of research. Numerous studies have demonstrated that access to bank accounts and payment services have a measurable impact on poverty.�

With the reported high poverty level in Nigeria in particular, it is imperatively urgent to enhance financial inclusion.

The objective of this piece is to simply the meaning of financial inclusion, to explain why there has been so much talk and writing on the subject lately, and to challenge readers and indeed all adult Nigerians to go ahead, without delay, and take full advantage of the benefits that financial inclusion offers.

Kajole Nanda and Mandeep Kahur of Indian Guru Nanak Dev University defined Financial inclusion simply as “where individuals and businesses have access to useful and affordable financial products and services that meet their needs that are delivered in a responsible and sustainable way. Financial inclusion is defined as the availability and equality of opportunities to access financial services�.

The financial inclusion agenda is that every adult must have access to banking services as a matter of right. The system must provide a lot of convenience to the process of: a.

Opening transaction accounts i.e. bank accounts or mobile money wallets; b.

Saving money in the account to earn interest; c.

Sending and receiving money in a convenient and affordable manner; d.

Very convenient and low cost means of paying bills and making daily purchases; e.

Access to finance to meet personal obligations and to establish and operate businesses i.e. loans at affordable rates and under friendly conditions; f.

Investing in instruments for higher returns(fixed deposit, mutual funds, bonds, stock, etc); g.

Insuring risks around assets; h.

Savings for Pension.

Levels of Financial Inclusion/Exclusion Whoever is taking full advantage of the eight services enumerated above is said to be financially included, the individual who uses a few of the services is said to be financially underserved, while the person who does not use any of the services is said to be financially excluded.

The goal of financial inclusion advocacy is to get every adult Nigerian to be financially included i.e. financially served.

There are 35 million BVN at the moment.

Estimated 10 million of this number are adjudged to be financially included and financially served, this being the BVN holders are actively engaged in financial transactions through banks, microfinance banks, etc, while the remaining 25 million are generally considered to be financially

underserved.

Also an estimated seven million financially underserved individuals do not own bank accounts but enjoy limited financial services through informal arrangements such as cooperatives, esusu, etc.

It follows therefore that only about 42 million (42%) of the estimated 100 million adult Nigerians enjoy some form of financial inclusion while about 58 million (58%) adult Nigerians are financially excluded.

EFiNA in a separate study of 2016 estimates that 41.6 per cent of 96.4 million adult Nigerians are financially excluded.

According to the World Bank Global Findex Report 2017 “Financial inclusion is on the rise globally. The 2017 Global Findex database shows that 1.2 billion adults have obtained an account since 2011, including 515 million since 2014. Between 2014 and 2017, the share of adults who have an account with a financial institution or through a mobile money service rose globally from 62 percent to 69 per cent account ownership has remained largely unchanged in developing economies where it was already about 70 percent or more in 2014, such as Brazil, China, Malaysia,

There are 35 million BVN at the moment.

Estimated 10 million of this number are adjudged to be ďŹ nancially included and ďŹ nancially served, this being the BVN holders are actively engaged in ďŹ nancial transactions through banks, microďŹ nance banks, etc, while the remaining 25 million are generally considered to be ďŹ nancially underserved

and South Africa.�

Financial inclusion holds so much promise and benefits for all.

A recent study by McKinsey Global Institute estimates that financial inclusion has the potential of boosting world GDP by $3.7 trillion by 2025 (6% growth), $4.2 trillion in new deposits, $110 billion annual reduction in government leakages, and $2.1 trillion new credits/loans.

The World Global Index 2017 report indicates that an estimated 1.7 billion adults are unbanked and financially excluded worldwide out of estimated world adult population of five billion.

The poor, women, rural dwellers, and refugees constitute a large percentage of the financially excluded worldwide.

The urgency of growing financial inclusion cannot be overemphasised given the stack reality of the situation if we must advance the cause of eradication of poverty and improve the quality of life of the generality of our people.

Impediments and Solutions The EFiNA survey of 2016 provided some insights into factors that may be responsible for the high level of financial exclusion in Nigeria in particular e.g. 56.1 per cent of the survey respondents attributed their exclusion to irregular income and unemployment.

It showed that 30.7 per cent of the respondents complained that bank branches are too far from them, while 11 per cent cited inability to read and write. Also, 10.5 per cent complained about bank charges and 10.1 per cent did not have a means of identification and also complained that banks demand too much documentation.

It is noteworthy that financial services industry stakeholders are responding to these financial inclusion impediments.

The various government and private sector job creation and other empowerment initiatives including vocational training and improved access to loans will go a long way to attract the 56.1 per cent who complained of irregular or no income.

As regards the scarcity of bank branches particularly in rural areas, the Nigeria banking industry has embarked on the Shared Agency Network Expansion Facility (SANEF) project to rapidly grow the number of financial services agents from

the present 60,000 to 500,000 by year 2020.

These bank agents are providing basic banking services to the populace and they would be located close to homes and offices including rural areas where there are no bank branches.

This, in fact, presents job and entrepreneurship opportunities to individuals and retail businesses who meet the minimum agent banking criteria. The 11 per cent who can neither read nor write are encouraged to take advantage of the formal and informal adult literacy programmes provided in many communities. Stakeholders continue to seek various ways to reduce operational costs to engender more friendly service fees, to address the bank charges concerns. Also, banks now open no-frills accounts with the requirement of just a mobile phone number or phone number and a means of identification only, to address the complaint of too much documentation.

Conclusion In this modern time, being financially included is not a choice. Every individual who desires to live life in full and to realise his/her potentials must take advantage of various financial services that Central Bank-licenced financial services providers have made available, leveraging appropriate technologies such as the internet, mobile phone, ATMs and kiosks and indeed bank branches and appointed financial services agents.

That young school leaver who wants to run a startup will easily realise his/ her dreams by latching onto the benefits that financial inclusion brings. Likewise, the apprentice who is ready to start his/ her trade, the petty trader who wants to grow the business, and that farmer who needs a small loan to start or expand his/ her farm. The financial services industry is wide open with innovative financial services designed to meet the needs of the diverse groups of people in our country, to enable everyone realise his/her full potential towards improving quality of life and ultimately growing the national economy.

Ajao is the Acting CEO, Nigeria InterBank Settlement System Plc and Financial Inclusion Thematic Group Lead of the NESG Financial Inclusion & Financial Management Policy Commission

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Auto Stakeholders Count Loses amid Stagnating Demand

Enelamah passed through the mandatory legislative arcades, and currently waiting to be accented by the executive.

To say the investors are in a dilemma The country’s automotive sub-sector may as it were, be enmeshed in fresh round of would be an understatement as majority uncertainty, if the recently retained 14 percent of them have either given up hopes that Monetary Policy Rate (MPR) is anything to anything meaningful would come from the Memorandum of Understandings earlier endorse. signed with the local stakeholders who Just last Thursday 22 November 2018, the Central Bank of Nigeria (CBN) Gover- are similarly still waiting endlessly for the executive accent. nor Godwin Emefiele announced after the However, a flash of relief came in 264th Monetary Policy Committee meeting December 2016, when the Federal Governin Abuja that the decision to sustain the MPR underscores the confidence CBN had ment ordered a restriction of vehicle imports through the land borders but that in the various policies and administrative respite soon paled into obscurity as smugmeasures it had deployed lately, which glers returned to the creeks to railroad it said has resulted in the moderation in used vehicles popularly called tokunbo domestic price levels and stability in the into the country via porous land borders. foreign exchange rate.

Prospective new vehicle buyers have Enthusiastic as Emefiele sounded, he was also mindful of the fact that some key resorted to patronizing used vehicles imports moments after they discovered sectors of the economy had continued to the vehicles could still find their way into experience what he described as “Signifithe country, once again dashing the hopes cant challenges, baring the tepid recovery of the domestic economy from recession,� of local vehicle assembly plants who have watched helplessly as combined sales but warned that effort should be stepped figures plummeted from 50, 000 units up to strengthen aggregate output and annually, (using 2014 statistics) to a paltry demand.

The automotive sector may undoubtedly not be unconnected with the significant challenges the CBN Governor pointed at in his observation, especially when viewed against precarious turmoil that has thrust the sector in the last couple of years against obnoxious winds.

Patronage of new automobiles, be it passenger cars, commercial vehicles, vans and even heavy-duty vehicles have continued to decline year-on-year, leaving stakeholders in a quandary of hesitation.

Those particularly affected are the stakeholders who had upon the inauguration of the National Automotive Industry Development Plan late 2014, liaised with some Foreign Direct Investments (FDI) to stake their resources in the emerging automotive sector.

The FDIs had indeed came in their hundreds, hoping that the Federal Government was truly committed to the speedy development of the automotive sector, but no sooner they staked their funds than they perceived some cracks and crevices in the policy document, believed to have

Manny Philipson

Patronage of new automobiles, be it passenger cars, commercial vehicles, vans and even heavyduty vehicles have continued to decline year-on-year, leaving stakeholders in a quandary of hesitation

14, 500 units in 2016 and less than 10, 000 units in 2017, the worst in five years.

Situations at the marketplace are still not promising yet as transactions at the end of the third quarter of 2018 is nothing to cheer. In fact, the performance index by the end of the year may not usher even a glimmer of hope as majority of the emerging plants have had their most horrible year ever, downsizing workforce and underutilizing their plants.

Peugeot Automobile Nigeria (PAN) for instance, who had invested hundreds of millions of naira to retool the Kaduna plant in readiness for the new policy implementation that it hoped would get the plant to a promising beginning is at crossroads of improbability, watching its plants gather dust and moist in the cocoon of its factory at Kakuri Industrial Estate Kaduna.

PAN, which has remained a milestone in Nigeria’s automobile industry, was conceived in 1969 by the then Federal Military Government under the leadership of General Yakubu Gowon, and in the build-up to actualize the dream, 16 reputable vehicle manufacturing companies were invited to tender their proposals for the establishment of vehicle assembly plants in the country.

While PAN and Volkswagen of Nigeria assembled passenger cars, Leyland, ANAMMCO and Styr were conscripted to assemble trucks and agricultural equipment. They all produced at their respective installed capacities until the 1990s when they gradually became moribund.

New investors have since acquired majority stakes in these plants at the inauguration of the National Industrial Development Plan in 2014, retooling and rejuvenating the plants.

Former VWoN for example was acquired by VON Automobiles Nigeria Limited who retooled the factory and converted the facility to a multipurpose vehicle assembly plant, assembling Nissan brand of vehicles, Hyundai vehicles and Light Commercial Vehicles as well as Ashok Leyland range of trucks and buses.

These facilities are capable of manufacturing the entire vehicular needs of the country if adequately managed and

supported by the Federal Government through effective policies and assured of sealess access to Forex, but ironically, the host being the Federal Government doesn’t appear to be taking these investments seriously as it rarely patronize the products of the plants.

Only recently, Nissan sub-Saharan Africa, a key FDI in Stallion NMN, the local Nissan custodian had in October 2018 announced a fresh MOU (Memorandum of Understanding) with Ghana to commence vehicle assembly at a new plant that would also service the growing demand for Nissan vehicles in that country and parts of the West African sub-region.

This development, no doubt, is an affront on Nigeria who in 2014 became the first country in sub-Saharan Africa to accommodate a Nissan plant and of course the first to roll out on line a wholly indigenous Nissan model.

What this implies is that, Nigeria may be losing the opportunity it earlier got on a platter to become a potentially viable Nissan hub in West Africa to newcomer Ghana, and could as well be relinquishing the resultant commercial gains.

Nigeria, however, need not cry over spilt milk as it has a substantially buoyant youthful population that could play a large role in fostering the growth of the country’s automobile market if the needed machinery is put in place.

Blue chip companies including Oil and Gas concerns could as well as enhance the patronage of locally assembled vehicles to encourage the plants to expand production just the government too has a role to play in the growth and acceleration of the market.

Government should introduce marketsupport initiatives, especially around regulations, helping with seamless credit schemes, granting tax holidays, and ensuring seamless access to FX, while disseminating information to both manufacturers and consumers alike to avoid undue asphyxiation. t1IJMJQTPO JT QSJODJQBM QBSUOFS BU .FEJB "EWPDBUF -JNJUFE BO BVUPNPUJWF SFTPVSDF BOE NBSLFUJOH DPNNVOJDBUJPOT DPNQBOZ

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EDUCATION Caverton Boss: Promoting Education through Private Participation The need for public and private sector synergy to develop the country’s education sector was the centre of discourse recently when a businessman, philanthropist and Chairman, Caverton Offshore Support Group, Mr. Aderemi Makanjuola donated a 500-seater ultra-modern lecture theatre to the Lagos State University, in commemoration of his 70th birthday. Funke Olaode reports Education no doubt is the solid rock of any society as it catapults a nation from obscurity to a developed world that commands respect among the comity of nations.

Against this backdrop, the private sector, corporate organisations and individuals have been charged to collaborate with government to move the Nigeria education sector to a greater height.

This remark was made by the Governor of Lagos State, Akinwunmi Ambode at the inauguration of a 500-seater ultra-modern lecture theatre donated by the Chairman of Caverton Offshore Support Group, Mr. Aderemi Makanjuola to the Lagos State University (LASU) to mark his 70th birthday.

Among others, the event was attended by the Pro-Chancellor, University of Lagos, Dr. Wale Babalakin; Chairman of Honeywell Group, Mr. Oba Otudeko; the Oba of Lagos, Rilwan Akiolu; Pro-Chancellor of LASU, Prof. Adebayo Ninalowo; LASU Vice-Chancellor, Prof. Olarenwaju Fagbohun and Prof. Akin Oyebode who delivered the commemoration lecture.

The governor thanked Makanjuola, a philanthropist for building such an exceptional edifice, saying that the government needs more of such kind gesture from individuals and corporate organisations to address the infrastructural deficit in the education sector.

He said while it is a fact that education is the bedrock of national development, running a qualitative education system is capital intensive, adding that due to the competing demand of other sectors and the scarce resources, government needs the support of individuals and corporate organisations to provide adequate infrastructure for public schools. “Whatever we need to do in terms of endowment we need to start thinking about legacies that we will leave behind for posterity,� he added.

According to the donor, the desire to give back to society especially LASU was borne out of his involvement with the institution, having been part of the governing council since late 80s. “Education is important and I believe if we have good environment for learning, students will excel. I felt that I should do something because when you help people you are helping yourself.

Again, anything for Lagos should be the best.

I went to the University of Leicester in United Kingdom and I felt Lagos, Centre of Excellence deservers the best that I must give back.

Makanjuola seized the opportunity to publicly thank his guardian since childhood, Alhaji Jimoh Gbadamosi for his support, saying that his virtues and values made him to become who he is today.

He thanked his wife, Yoyinsola for her support in raising the children.

On the building, he said the governor did a lot to ensure that the building was erected and that the lecturers were committed and it helped to complete the building within six months. “Let us continue to invest in infrastructure.�

Makanjuola also encouraged all to help mankind and be forward-looking. “Opportunities are there and that is why we should encourage the younger ones. I remember when we started Caverton, nobody gave us a chance, but today here we are.�

On his part, the Chief Missioner, Ansa-Ud-Deen Society of Nigeria, Sheik Abdulraham, commended the donor for his heart of kindness, saying, “he is a man of means who places posterity above prosperity by deciding to invest in education and donate a lecture theatre to LASU. “This is a selfless service to humanity. I don’t know him to be a politician. He is a man who believes in today and tomorrow by investing in the youths. If we have people like Aderemi Makanjuola, there is hope in this country. God will continue to enrich him with good health.�

In his remarks, the vice-chancellor thanked the state government for giving the university a face-lift, which he said has boosted the confidence of students and teachers of the institution and even made the alumni proud of “this beautiful citadel of learning.�

L-R: Governor Akinwunmi Ambode; the donor, Mr. Aderemi Makanjuola, his wife, Yoyinsola; Oba Otudeko; Mr. Babajide Sanwo-Olu; and Prof. Adebayo Ninalowo at the event The visibly elated Fagbohun described Makanjuola as a benefactor and hero. “Since the establishment of the institution, it has produced eminent people who have gone out to shape both social, political and economy of the nation.

The government has changed the narrative by changing it from a perceived glorified secondary school to a university that we can be proud of. “His commitment no doubt has opened floodgates of goodwill which we are benefitting today from unassuming businessman and philanthropist.

Today, that 500-seater lecture theatre is standing tall and it has changed the landscape of LASU. The name Remi Makanjuola has now become part of the legacy of LASU.�

Pro-Chancellor and Chairman, Governing Council, Prof. Adebayo Ninalowo extolled the virtue of the Caverton boss, whom he described as a distinguished Nigerian with a noble gesture humble; unassuming and gentle man. “I respect this man for his simplicity; he is a generous man whose generosity cuts across and I am not surprised that LASU benefitted from his kind gesture. This is not the first lecture theatre he will be donating. He donated one in Minna, early this year, he donated one at Summit University in Offa, Kwara State in memory of his late mother.

This is the third one; we are indeed grateful.�

In his brief speech, Babalakin, the Chairman of Bi-Courtney Group also canvassed “more funds for higher institutions. He said it is a self-protective policy to spend more on the education sector. “If we fail to develop our universities, we will face the consequence in the future. So we must meaningfully invest in Nigerian education for the sake of posterity. “Education is at a cross road today in Nigeria and if we don’t find a solution early enough we will all regret it. If we don’t spend a lot of money on education from all sources, government, public, private, donor, alumni and so on, we have a long way to go.�

In his commemoration lecture titled ‘Town and Gown: Giving in the Age of Scarcity’, the guest lecturer, Prof. Akin Oyebode called on universities’ management to seek other means of generating funds outside government subvention in order to have adequate funds to run their institutions. “From every university in Nigeria from the University of Ibadan to the newest, they need more funding. So anytime anyone thinks of university by provision of bursaries, scholarships or whatever

L-R: The VC, LASU, Prof. Olanrewaju Fagbohun with Pa Gbadamosi Photos: Etop Ekutt we are happy because we are improving the situation of our universities. “Governments alone cannot undertake development projects required in our universities. Facilities cannot be enough so governments cannot do it alone. We are not in universities to make money.

We are in to improve the stock of human capital.

So we need more funds in our universities,�

Oyebode said.

Commending Makanjuola for the gesture, the retired professor said the like of Makanjuola is rare. “There is no way we can write the history of LASU without mentioning Aderemi Makanjuola.

He is not a politician. He does not want a vote from us. But he simply built this lecture theatre to add value to LASU and humanity at large.

The rich should take a cue from him to build facilities for our higher institutions.�

In his goodwill message, Oba Akiolu described Makanjuola as an incredible man who decided to leave a legacy. “Funding of education is very important because it is the only catalyst that can change the society. Remi Makanjuola is somebody that is dear to my heart. I am not surprised at what he has done today. His father too was a generous giver. I know this will not be the end

of his kind gesture in providing infrastructural projects for education.�

An ally of the celebrant, Mr. Akin Kekere-Ekun said: “Remi Makanjuola is a man of integrity, upright, honest and impeccable character, who dabbled into a terrain once reserved for the expatriates, aviation. Today, he is a success story.

Makanjuola I know he is a committed man to his God, family and society. “This is not the first time he would be committed to LASU. He donated money for research at Lagos Medical Institute. He is a man who is very much in line with education because he believes education is a gift of life. Beyond Nigeria, his alma mater, Leicester University, United Kingdom had also benefitted from his milk of kindness, as he has contributed generously to the institution.�

Extolling the virtue of the celebrant, the All Progressives Congress governorship candidate in Lagos, Mr. Babajide Sanwo-Olu said: “Makanjuola is a man that I have emulated in the last 30 years. As a young university leaver, he is man I looked up to and watched how he grew his business. I learnt a lot from him as a man of impeccable integrity. A man of sound mind who has dedicated his life to God and humanity.�

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EDUCATION

Edwin Clark Varsity to Lead in Environmental Research, Says VC Sylvester Idowu in Warri The Vice-Chancellor, Edwin Clark University (ECU), Kiagbodo, Delta State, Prof Timothy Olagbemiro has said the university would be one of the leading institutions in environmental research in the country.

The VC, who said this during a press conference at the university, added that with the rate of environmental pollution in the Niger Delta region, the institution will be a reference point in environmental remediation.

He regretted that the Niger Delta region, in spite of being the goose that lays the golden egg in the country, has been neglected by successive governments, describing the region as the poorest in the country with all its lands polluted as a result of oil exploration and exploitation.

According to him, the institution will lead other universities in the country to solve and remediate the Niger Delta environment and bring it back to its past glory of being one of the most fertile land in the world.

Olagbemiro described the institution as one of the fastest growing private universities in the country that has all its courses accredited by the National Universities Commission (NUC).

He disclosed that ECU is currently running

four faculties: Faculty of Sciences, Faculty of Humanities, Social and Management Sciences, Faculty of Science and Faculty of Law. He added that the NUC had carried out accreditation for 14 programmes of the institution, which were due in May/June 2018, and granted the university full accreditation for all of them with scores ranging from 79 per cent to 98 per cent. “With this success story, ECU is poised to do more by ensuring that it offers the best academic standard in every serene, conducive and safe environment for learning.�

On international collaboration and partnership, Olagbemiro said the university is “fully aware of the importance, advantages and gains of global recognition and interaction, thus it has entered into partnership with the United Kingdom and the United States of America. “Today, ECU is in partnership with Coventry University, United Kingdom, Chicago State University, USA and Reinhardt University, Waleska, Georgia, USA.�

He added that the partnership with the foreign universities involves students’ exchange programmes, saying, “no doubt this initiative will expose Nigerian students who will pass through

FG Urges Edo to Access UBEC Fund Adibe Emenyonu in Benin City The federal government has advised the Edo State government to fully access and properly utilise funds made available through the Universal Basic Education Commission (UBEC).

It said it has sustained the funding of the basic education sub-sector through UBEC and supporting state governments in the discharge of their basic education obligations.

The FG stated that it has from 2015 to 2018, through UBEC, allocated to states N164,032,877,186 as matching grants; N34.9 billion as teachers’ professional development; N52.4 billion for instructional materials; and N6.9 billion for special education.

The Minister of Education, Mallam Adamu Adamu, who made this known recently in Benin City while delivering the keynote address at the Edo Summit to mark the second year anniversary of Governor Godwin Obaseki, said he has keyed into the two strategic pillars of the country’s educational plan.

Adamu, who was rep-

resented by the Executive Secretary of UBEC, Dr. Hamid Bobboyi, commended Obaseki for making Edo one of the states with the lowest number of children out of primary school and warned unqualified teachers to either acquire the requisite qualification or disengage from teaching on or before December 31, 2019. “We must acknowledge the issue of out-of-school children which has over the decades been a key challenge to the effective delivery of basic education in Nigeria. With over 10 million pupils outside our primary school system, it is essential for all stakeholders to sustain their efforts in ensuring that these figures are substantially brought down. It is essential for us to break this vicious circle.�

Obaseki said his reform in basic education led to the introduction of what he termed the Edo BEST and that over 7,000 teachers were trained on pedagogy with an improvement in the quality of teaching in public schools.

ECU to the world, and will also enable foreign students to come to Nigeria. Non-African students will have first-hand knowledge of Nigeria as a country and Africa as a continent other than what their country’s media and literature teach them about Africa.�

The VC said apart from running four faculties with 25

fully accredited programmes, the institution also runs a one-year foundation programme that enables students who successfully complete the programme to be admitted into 200 level (direct entry). “For a university that is just three years old and going to its fourth year, ECU with all modesty, has done well and all

glory must be given to Almighty God.�

He said the university, located in the serene town of Kiagbodo, Burutu Local Government Area, has a conducive learning environment and is easily accessible, adding that ECU also has seasoned administrators that are experienced in university administration. “ECU is fully residen-

tial; all our students live on campus in a wellspaced and conducive hostel accommodation.

Like the saying goes, graduating students of a university should be found worthy in character and learning. ECU ensures that the students are well catered for to ensure tested academic and moral rectitude,�

Olagbemiro said.

L-R: The overall winner of Tax Debate for Lagos Secondary Schools, Miss. Akinbobola Oluwatunmise of Epe Senior Grammar School; Deputy Director, Education District VI, Oshodi, Mr. Akinyemi Akintomide; President, International Centre for Tax Research and Development, Mrs. Morenike Babington-Ashaye; and Chairperson, Society for Women in Taxation (SWIT), Lagos Chapter, Mrs. Dena- Rose Ajayi, at the inaugural tax debate for Lagos secondary schools organised by SWIT in Lagos‌ recently PHOTO: ETOP UKUTT

UBA Foundation Rewards Dangote Foundation Donates N1bn Hostel to ABU Essay Contest Winners Uchechukwu Nnaike The UBA Foundation has rewarded winners of the National Essay Competition for secondary schools across the country, as 14-year-old Miss Divine Odjegba of the International High School Delta State emerged the overall winner receiving the star N2 million scholarship, as well as a laptop and a trophy.

The first and second runnersup were 15-year-old Miss Halimat Ozemoka of University Preparatory Secondary School, Edo State and 16-year-old Adiankpo Ini-Iso Christopher of Nigerian Christian Institute, Akwa Ibom State; they got scholarships worth N1.5 million and N1 million respectively, as well as brand new laptop computers.

The 12 finalists, out of about 6,000 students that entered for the competition, were honoured at the grand finale, which held at UBA Headquarters in Lagos on Monday. The remaining finalists also received laptops and other prizes.

A visibly elated Odjegba, who was accompanied by her mother, expressed delight to have come top in the competition though she never expected to emerge the overall winner. She said winning the competition has given her the confidence that she can face any kind of challenge and emerge winner.

She added that the prize

would help her actualise her dream of becoming a gynaecologist. “This is something I prayed about and worked hard to achieve. I was in shock to hear my name announced as the winner and my mother and I cried for joy. I am very grateful to UBA and the foundation for this huge opportunity and making me believe in myself.

This grant will go a long way to support my bid for quality education.�

This year’s edition saw over 500 per cent increase in participation from students across all states.

While congratulating the winners, the CEO of UBA Foundation, Mrs. Bola Atta, commended them for their brilliance. “Every student who sent in an entry is a winner.

To be confident about your writing skills and ambitious enough to enter a competition to enhance your educational path is laudable. For those that did not win, I will say do not be discouraged. Take it as a challenge to perfect your writing skills and enter for the competition again in 2019.�

Atta said the foundation, being the CSR arm of UBA Plc, makes it a point of duty to give back to communities where UBA operates. “Education in any capacity remains one of the foundation’s focus areas as it is the bedrock of any nation.�

The Aliko Dangote Foundation (ADF) is set to inaugurate a N1 billion hostel it built for the Ahmadu Bello University (ABU) Zaria, Kaduna State.

The management of the university described the Dangote hostel project as a “big relief,� saying that accommodation is one of the nightmares of the sprawling university.

The Director, Physical Planning and Municipal Services of the university, Muhammad Aminu Sambo said: “This is a big relief because the university has limited accommodation in relation to the number of students admitted every year.

This is one of our nightmares.�

Speaking to journalists, Sambo said out of the over 50,000 students admitted yearly, the university could only provide accommodation for only about 13,000. He commended the President of Dangote Group, Aliko Dangote and urged all able Nigerians to emulate him and intervene in the education sector.

In his reaction, the Chief Architect of ABU, Yabani Abubakar, described the hostel as a monumental intervention, saying that it is a set of 10 blocks with 36 rooms each. Abubakar, who is the Chief Physical Planning and Development Officer (CPPDO), said the newly-built Dangote Hostel has been completed and will be inaugurated during the upcoming convocation ceremony.

According to him, as part of his commitment, Dangote visited the hostel recently and directed that new state-of-the-art facilities like solar power be installed.

He said the hostel is located in Phase II section of the main campus and will be initially used as a wholly-male hostel from next academic session.

The Managing Director and CEO of the Aliko Dangote Foundation, Zouera Youssoufou, had said supporting education is one of the foundation’s priorities, adding that the ADF was recently endowed with $1.25 billion.

The National President of the Ahmadu Bello University Alumni Association, Prof.

Ahmed Tijani Mora, recently noted that the contribution of the foundation to the education sector, and more importantly to the school, is unprecedented and as a result, the alumni association conferred a Corporate Award on the business mogul.

The Vice-Chancellor of the University, Prof. Ibrahim Garba, commended Dangote, saying that the support was timely as the university has limited accommodation facility for its students.

The group had recently donated a world-class Dangote Business School worth N1.2 billion to the Bayero University Kano and donated another Business School complex in the University of Ibadan, among other interventions.

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FEGCOOSA Bemoans Suicide Rate among Youths Funmi Ogundare

The Federal Government College Ogbomosho Old Students’ Association (FEGCOOSA) has expressed concern over the rate of suicide among youths, saying that it is making moves to address the anomaly in the country.

Briefing journalists recently in Lagos about its end of year programme with the theme ‘Fostering Togetherness’, scheduled to hold on December 1 in Ikeja, the Chairman, End of Year Committee, Mr. Anthony Akarah said there have been many cases of depression leading to youths committing suicide and described the issue as worrisome.

He said a resource person would be employed to speak on the issue, adding that the

association’s objective is to contribute its quota to national discuss.

“During our gathering, we will seek how to add value to ourselves by helping one another in all ramifications. We identify topical issues every year that are of national importance to impact lives.”

The Global President, Mrs. Yetunde Jaiyesimi called on the government to ensure that unity colleges return to their forrmer glory through fostering unity among the people.

She expressed concern that corruption has eaten deep into the polity which brought about the rot in the college established 41 years ago. This she said is one of the reasons the old students had to give back to the school and refurbished its facilities.

She recalled when she was admitted as a student in 1979 saying, “we had a small number of students at the time and government paid a lot of attention to the college, subvention also came on time, dormitories were not overcrowded and teachers were dedicated.

“Most of the buildings were relatively new and our laboratories were well equipped. When we were in school, we were not bothered about tribe or where you were from. The selection process into the federal government college was televised at the time and Nigeria was good such that even the children of the rich were proud that they schooled in Nigeria.”

Jaiyesimi expressed concern about the rot in the college over the years saying, “each

time we go back to the school, our hearts bleed, we see the decadence and values eroded.”

About the programme, she said the association would be using the period to network with each other and give awards to distinguished old students who have done well in supporting their alma mater, do a whole lot of humanitarian activities.

“It is a time to network and thank God; and celebrate our achievement, projects that we have given back to the college. It is also a time when we celebrate our teachers who trained us over the years, we also honour our best students as we will be honouring the best students in the last West African Senior School Certificate Examination (WASSCE).”

KEHINDE OMORU www.kayomoru.com

DOING JUSTICE TO BASELINES

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L-R: Oluwatoyin Grace Alade, Ivie Cynthia Aigbe, Olusola Opaluwa and Kafayat Abimbola Adeyemo, who all bagged master’s degree during the 70th anniversary convocation ceremony of the University of Ibadan… recently

NNPC/CNL JV Pledges Commitment to Quality Education Sylvester Idowu in Warri

The Nigerian National Petroleum Corporation (NNPC), Chevron Nigeria Limited (CNL) Joint Venture has expressed its commitment to improving the quality of education in the country.

The Managing Director, CNL, Jeffrey Ewing said this at the award presentation ceremony for the 2018 Awokoya Memorial Chemistry Competition held at the Petroleum Training Institute (PTI) Conference Centre, Effurun, Delta State.

The competition was organised by NNPC/CNL Joint Venture, in partnership with the Chemical Society of Nigeria (CSN) and the Delta State Ministry of Education.

It was initiated to promote the study of the subject among secondary school students of Delta State and in memory of Stephen Awokoya, a chemistry professor, who died on March 15, 1985.

Ewing, who was represented by the Policy, Government and Public Affairs Superintendent, Mr. Tony Emegere, said over the years, the joint venture has shown its commitment through investment in education infrastructure, sponsorship of manpower development programmes and award of scholarships.

“We are committed to improving the quality of education in Nigeria because education is important for the development of the country. Our corporate

belief is that education remains a veritable tool for personal and societal growth and sustainable development.”

The MD said the NNPC/CNL JV is pleased that its contribution to education is helping to improve the country’s ability to develop quality manpower in various fields, including the oil and gas industry.

He said aside the fact that the Chemistry competition is helping in immortalising the person is was named after, it also helps students to develop their mental attitude for personal development and thus add value to the society.

He said the company is assured that with the support and commitment of the state ministry of

education and the CSN, the competition will continue to stimulate students’ interest in the study of Chemistry and other science and technology subjects for a long time to come.

Ewing said he is happy that the competition is achieving its intended objectives, adding that it can only grow bigger, better and stronger.

On his part, the President of CSN, Professor Sunday Okeniyi, who was represented by Ebitimi Perezi, commended NNPC/CNL JV and the state government for their support, saying that the competition is in line with the society’s core value of rewarding individuals with exceptional academic performance.

Posture Correction Tools Ùß ×Ëã ÐÓØÎ Ë Øß×ÌÏÜ ÙÐ ÞÙÙÖÝ ÐÙÜ ÍÙÜÜÏÍÞÓØÑ ÚÙÝÞßÜÏ ßÝÏÎ Ìã ÚÒãÝÓÙÞÒÏÜËÚÓÝÞÝ ËØÎ ÖÓÕÏ ÚÜÙÐÏÝÝÓÙØËÖݲ ÒÏã ËÜÏ ÌËÝÓÍËÖÖã ÙÐ ÞáÙ ÞãÚÏÝ̋ ËÝÝÏÝÝ×ÏØÞ ËØÎ ÍÙÜÜÏÍÞÓÙØ˛ ÒÏ ËÝÝÏÝÝ×ÏØÞ ÞÙÙÖÝ ÎÏÞÏÜ×ÓØÏ ÞÒÏ ÚÜÙÌÖÏ× áÒÓÖÏ ÞÒÏ ÍÙÜÜÏÍÞÓÙØ ÞÙÙÖÝ ÐÓâ ÞÒÏ ÚÜÙÌÖÏײ ÒÏÓÜ ÜÏÑßÖËÜ ËØÎ ÚÜÙÚÏÜ ßÝÏ áÓÖÖ ÌÜÓØÑ ãÙß ÚÙÝÓÞÓàÏ ÜÏÝßÖÞ ÙàÏÜ ÞÓ×Ï˛ Ù×Ï ÙÐ ÞÒÏ ÍÙ××ÙØ ÏâË×ÚÖÏÝ ËÜÏ ÌÜÓÏÐÖã ÎÏÝÍÜÓÌÏÎ ËÝ ßØÎÏܲ Dowel Rod: ÒÏ ÎÙáÏÖ ÜÙÎ ÓÝ ËØ ËÝÝÏÝÝ×ÏØÞ ÞÙÙÖ ÐÙÜ ÌÙÎã ÚÙÝÞßÜÏ˛ Þ ÓÝ Ë ÖÙØÑ ËØÎ ÖÓÑÒÞáÏÓÑÒÞ ÝÞÓÍÕ ÞÒËÞ ÓÝ ÚÖËÍÏÎ ÙØ ÞÒÏ ÌËÍÕ ÞÙ ÙÌÝÏÜàÏ ÝÚÓØËÖ ËÖÓÑØ×ÏØÞ˛ Þ ÍËØ ÌÏ ßÝÏÎ ÞÙ ÎÏÞÏÜ×ÓØÏ ÓÐ ãÙß ÒËàÏ ÞÒÏ ÞÏØÎÏØÍã ÞÙ ÐËàÙÜ Ë ÚËÜÞÓÍßÖËÜ ÝÓÎÏ ÙÐ ÞÒÏ ÌÙÎã˛ ÙÜ ÎÏÞÏÜ×ÓØËÞÓÙØ ÙÐ ÞÒÏ ÚÙÝÞßÜϘ ãÙß ×Ëã ÌÏ ËÝÕÏÎ ÞÙ ÚÏÜÐÙÜ× Ë ÐÏá ÎÙáÏÖ ËÝÝÏÝÝ×ÏØÞ ÏâÏÜÍÓÝÏݲ ØÏ ÝßÍÒ ÏâÏÜÍÓÝÏ ÓÝ ÚÏÜÐÙÜ×ÏÎ ÙØ ÞÒÏ ÕØÏÏÝ ËØÎ ÒËØÎݲ Ùß áÙßÖÎ ÌÏ ËÝÕÏÎ ÞÙ ÎÜËá ãÙßÜ ÌÏÖÖã ÓØ áÓÞÒÙßÞ ÍÜÏËÞÓØÑ ËØã ÝÚÓØËÖ ×ÙàÏ×ÏØÞ˛ ÒÏ ÎÙáÏÖ ÜÙÎ ÓÝ ÚÖËÍÏÎ ÙØ ÞÒÏ ÝÚÓØÏ ÓØ Ë àÏÜÞÓÍËÖ ÚÙÝÓÞÓÙØ˛ ÓÐÞ ãÙßÜ ÜÓÑÒÞ ÖÏÑ ËØÎ ÖÏÐÞ ËÜ× ÝÓ×ßÖÞËØÏÙßÝÖã˛ Ù×Ï ÌËÍÕ ÞÙ ãÙßÜ ÙÜÓÑÓØËÖ ÚÙÝÓÞÓÙØ ËØÎ ÞÒÏØ ÖÓÐÞ ãÙßÜ ÜÓÑÒÞ ËÜ× ËØÎ ÖÏÐÞ˛

Ð ÞÒÏ ÎÙáÏÖ ÜÙÎ ×ÙàÏݘ ÞÒÏ ÎÏÞÏÜ×ÓØËÞÓÙØ ÓÝ ÞÒËÞ ãÙß ÐËàÙßÜ ÙØÏ ÝÓÎÏ ÙÐ ãÙßÜ ÌÙÎã ËØÎ ËÖÖÙá ãÙßÜ ÌËÍÕ ÞÙ ÝËÑ˛ Braces: ÙÝÞßÜÏ ÍÙÜÜÏÍÞÓàÏ ÌÜËÍÏÝ ËÜÏ ßÝßËÖÖã ÜÏÍÙ××ÏØÎÏÎ Ìã ×ÏÎÓÍËÖ ÚÜÙÐÏÝÝÓÙØËÖÝ ÐÙÜ ÚÙÝÞßÜÏ ÍÙÜÜÏÍÞÓÙØ˛ ÒÏã ËÜÏ ÝÙÐÞ˜ ØÙØ̋ÏÖËÝÞÓÍ ÝÞÜËÚÝ ÞÒËÞ ËÜÏ ÎÏÝÓÑØÏÎ ÓØ Ë áËã ÞÙ ÚÜÙàÓÎÏ Ë ÝÏÍßÜÏ ËØÎ ØÙØ̋ÌÓØÎÓØÑ ÐÓÞ˛ ÒÏã ËÜÏ ÙÐÞÏØ ÏÛßÓÚÚÏÎ áÓÞÒ ÏËÝÓÖã ËÎÔßÝÞËÌÖÏ ÒÙÙÕ̋ËØÎ̋ÖÙÙÚ ÍÖÙÝßÜϘ ÞÙ ÓØÍÜÏËÝÏ ÙÜ ÎÏÍÜÏËÝÏ ÞÒÏ Ë×ÙßØÞ ÙÐ ÝßÚÚÙÜÞ ËØÎ ÚÜÏÝÝßÜÏ˛ ÒÏ ÚÙÝÞßÜÏ ÍÙÜÜÏÍÞÓàÏ ÌÜËÍÏÝ ÚÜÙàÓÎÏ ÝßÚÚÙÜÞ ÞÙ ÞÒÏ ÌËÍÕ ×ßÝÍÖÏݲ ÒÏã ÍËØ ÌÏ ßÝÏÎ ÌÙÞÒ Ìã ËÎßÖÞÝ ËØÎ ÍÒÓÖÎÜÏØ˛ Ùß ËÜÏ ËØ ÓÎÏËÖ ÍËØÎÓÎËÞÏ ÐÙÜ ÞÒÏ ßÝÏ ÙÐ ÚÙÝÞßÜÏ ÍÙÜÜÏÍÞÓàÏ ÌÜËÍÏÝ ÓÐ ãÙßÜ ÔÙÌ ÜÏÛßÓÜÏÝ ãÙß ÞÙ ÝÓÞ ÐÙÜ ÖÙØÑ ÒÙßÜݘ áÒÓÍÒ ÚßÞÝ Ë ÖÙÞ ÙÐ ÝÞÜËÓØ ÙØ ãÙßÜ ÌÙÎã ÙÜ ãÙß ËÜÏ Ë ÝÚÙÜÞÝÚÏÜÝÙØ áÒÙ ÒËÝ ÞÙ ÚÏÜÐÙÜ× ÜÓÑÙÜÙßÝ ÏâÏÜÍÓÝÏݲ Ð ãÙß ÒËàÏ ÞÙ Ìßã Ë ÚÙÝÞßÜÏ ÍÙÜÜÏÍÞÓàÏ ÌÜËÍϘ ÞÒÏØ ÑÙ ÐÙÜ ÞÒÏ ÙØÏ ÞÒËÞ ÒËÝ Ë ÞÏÜÜã ÍÖÙÞÒ ÚÜÙÞÏÍÞÙܲ Þ áÓÖÖ ÕÏÏÚ ãÙßÜ ÌËÍÕ ÎÜã˛ Ý ÒËÝ ÌÏÏØ ×ÏØÞÓÙØÏÎ ËÖÜÏËÎã˜ Ë ÚÙÙÜ ÚÙÝÞßÜÏ ÙÚÏØÝ áËãÝ ÞÙ Øß×ÏÜÙßÝ ÒÏËÖÞÒ ÚÜÙÌÖÏ×ݲ Þ ÎÓÜÏÍÞÖã ËÐÐÏÍÞÝ ÞÒÏ ÚÙÝÓ̋ ÞÓÙØ ÙÐ ÞÒÏ ÌÙÎã˪Ý ÍÏØÞÏÜ ÙÐ ÑÜËàÓÞã˛ ÒÓÝ ÏàÏØÞßËÖÖã ËÐÐÏÍÞÝ ÌËÖËØÍÏ ËØÎ ÍÙÙÜÎÓØËÞÓÙØ˛ ÒÏÜÏÐÙÜϘ ÓÝ ÓÞ àÏÜã Ó×ÚÙÜÞËØÞ ÞÙ áÙÜÕ ÞÙáËÜÎÝ ×ËÓØÞËÓØÓØÑ Ë ÍÙÜÜÏÍÞ ÚÙÝÞßÜÏ˛ Ùß ÍËØ ßÝÏ ËØã ÙÐ ÞÒÏ ËÌÙàÏ ÝßÑÑÏÝÞÏÎ áËãÝ ÞÙ ÍÙÜÜÏÍÞ ãÙßÜ ÌÙÎã˪Ý ÚÙÝÞßÜÏ˛ ÒÏ ÌÏÝÞ ÓÎÏË ÓÝ ÞÙ àÓÝÓÞ Ë ×ÏÎÓÍËÖ ÚÜËÍÞÓÞÓÙØÏÜ ÐÙÜ ÎÏÞÏÜ×ÓØËÞÓÙØ ÙÐ ÞÒÏ ÜÙÙÞ ÍËßÝÏ ËØÎ ÜÏÍÙ××ÏØÎËÞÓÙØ ÙÐ ÚÙÝÞßÜÏ ÍÙÜÜÏÍÞÓÙØ ÎÏàÓÍÏÝ ËØÎ ÏâÏÜÍÓÝÏݲ Mrs Kehinde Omoru writes from the UK

T H I S D AY Ëž Í°ÍśËœ Í°ÍŽÍŻÍś

35

KWASU VC Tasks FG on ASUU’s Demands Hammed Shittu in Ilorin The Vice-Chancellor of Kwara State University (KWASU) Malete, Professor Abdulrasheed Na’Allah, has called on the federal government to find lasting solution to the demands of the Academic Staff Union of Universities (ASUU) to avoid incessant strikes in the country’s universities.

He said no meaningful contribution can be made to academic careers of the students while embarking on strike.

ASUU has been on strike for the past three weeks over the non-implementation of

its demands by the federal government. The development has forced students of public universities, except University of Ilorin to be on compulsory holiday.

Na’Allah, who said this while briefing journalists on the forthcoming special convocation of the university, where three eminent personalities would be awarded honorary doctoral degrees, appealed to the federal government to rise to the situation to move university education forward in the country.

The three eminent personalities to be honoured are former President of Ghana, John Kufor, (honorary

doctorate in Public Admission); first Chief Executive Officer of Guaranty Trust Bank (GTB), Prince Tajudeen Adeola (honorary doctorate in Entrepreneurship); and an Ilorin based singer, Alhaji Aminu Jayigbade Alao (honorary doctorate in Literature).

He said the ongoing ASUU strike is not a good omen for the academic growth of the country. “It is high time the federal government saved the university education in Nigeria because these incessant strikes would not take us anywhere in the country.�

Na’Allah, who said KWASU has never been on strike since its establishment nine years

ago, added, “this ugly situation needs to be addressed by the federal government by ensuring that a lasting solution is proffered so as to move university education forward in the country.�

On the university’s convocation ceremony, he said it was a joint decision of the management and senate of the institution to confer honorary degrees on the three eminent personalities to show appreciation for their contributions to the socio-economic development of the society.

Na’Allah, who added that the university has achieved a lot since its establishment, said

Master Daniel Adekunle (middle) with his mother Ms. Funmi Ogundare (left) and grandmother, Mrs. Rosaline Ogundare, during his matriculation at Babcock University, Ilisan Remo, Ogun State‌ recently

Establish Sports University, Gregory Varsity Graduates 100 at 3rd Parents Tell FG deficiencies in their academics Convocation Kuni Tyessi in Abuja Parents of Ladela School, Abuja have called on the federal and state governments to establish a specialised university that will concentrate solely on sports.

The Chairman of the Parent Teacher Association (PTA), Dr. Joshua Usman, who made the appeal during the school’s annual inter-house sports competition, said the government is yet to get things right with its insistence on academics and paper qualifications.

Usman, who was represented by a parent, Dr. Mainasara Umar, said excellence in sports is itself an exceptional talent, which should be celebrated, adding that there are many sports that are going into extinction and need to be revived.

He said Nigeria has reached the time when sports activities need to be enlisted in the stock market as it is yet an untapped area that has the potential of generating revenue, judging from the fact that many countries are diversifying their economies. “The federal government needs to develop a sports university so that talented and gifted individuals that have

will be promoted to the sports university. That is why even in the Nigerian development curriculum, we are getting it wrong. “We always put so much emphasis on academics and paper qualification. Excellence in sports is itself an exceptional talent which should be celebrated, especially now in Africa when we are seeing the light of the day as sports enthusiasts are even getting to the level of presidency. Look at Liberia for example, the president was a footballer.�

The Executive Director of the school, Mrs. Angela Ajala said apart from bringing the children together to learn team work, sports builds their character, instils team unity, togetherness and discipline. She said the world has evolved and as such, parents should encourage their children to take up careers in sports. “In this present generation, we are no longer following the traditional career of doctors and lawyers; careers have changed now. The careers of the future are the careers of skills and arts that will propel the child. So we encourage parents to allow their children to go into sports.�

The Gregory University, Uturu, Abia State has graduated 100 students who it described as ‘Global Leaders’ during its third convocation ceremony held at the institution’s main auditorium recently.

The 100 graduands were trained with state-of-art teaching aids in line with the university’s culture of ensuring high academic standards.

Out of the 100 graduands, four persons graduated in the first class category; 58 made second class upper division; 33 made second class lower division; while five came out with pass and third class.

The ceremony also witnessed the conferment of honorary doctoral degree on some distinguished Nigerians who were specially selected for their outstanding contributions to the development of the society.

The awardees were: the Senator representing Abia North Senatorial District, Mao Ohuabunwa; veteran highlife music maestro and leader of Oriental Brothers International Band, Chief Ferdinand Opara; Olympic gold medalist, Assistant Police Commissioner, Chioma Ajunwa-Opara; President General

of Peoples Club of Nigeria, Prof.

Innocent Ekeh; and the Managing Director of Urban Radio FM, Enugu, Chike Madueke.

Speaking during the convocation ceremony, the Chancellor, Prof. Gregory Ibe charged the graduating students to demonstrate the skills and competencies they acquired at the institution anywhere they find themselves.

He also urged them to always remain the best in whatever they do, saying that they have been thoroughly groomed and equipped with necessary skills, especially entrepreneurial skills to conquer the world and become the best. “I hereby charge you to remember the letters of the line in our school song that says ‘in every quest, we still remain the best’. Therefore as you depart the land of Uturu, where knowledge drops as dew, remember that you have been thoroughly equipped with the necessary skills and competencies that will enable you to be the best where you find yourself, go ye into the world and shine forth the light of GUU so that people may see your good works and glorify our God in heaven.�

NBC Renovates Classrooms in Enugu As part of its commitment towards enriching lives in its host communities, a main thrust of its CSR and community development programmes, the Nigerian Bottling Company Limited (NBC) recently renovated a block of four classrooms at Ngwo-Uno Secondary School, in Udi Local Government Area, Enugu State.

The school block, which was constructed by the company in 1997, to bridge the infrastructure gap identified in the school at the time, was recently renovated to maintain the facility as a conducive environment for students to keep learning.

The inauguration ceremony had in attendance, the Deputy Governor of the state, Mrs. Cecilia Ezeilo; Chairman Udi Local Government Area, Nestor Ochin; the state Commissioner for Education, Uchenna Eze; Igwe Basil Ugwuozor Ozor; the Principal of the school, Mrs. Victoria Okafor, among others.

While inaugurating the facility, Ezeilo commended the company for the initiative, which she said which would enhance the learning environment in the school. “This NBC project complements an on-going initiative of the state government on the extensive renovation of school buildings and the construction of new structures in schools at all levels in the state. In addition, the state government is providing instructional materials and other necessary equipment to the schools. It is refreshing to see the commitment from

private organisations to positively impact lives and living standards in their local communities.�

The deputy governor urged other well-meaning private sector organisations, as well as individuals and groups to emulate NBC and make their own contributions towards providing a better learning environment for students.

Speaking on behalf of the Managing Director of NBC, the Country CSR Manager, Mr. Ekuma Eze said the company embarked on the project because it was identified as an impactful way to support development in one of its host communities, with the knowledge that students learn better when they view their learning environment as positive and supportive.

The Chairman, Post Primary Schools Management Board, Nestor Ezeme assured the management of NBC of the board’s support in ensuring that the facility remains conducive for learning. “Now that the NBC has provided us with this block of classrooms, we would further equip it with the computers initially promised by the state government.�

Reacting to the gesture, the monarch, Igwe Basil Ugwuozor Ozor commended the company for the initiative, which he said would have far-reaching positive impact on children of the community. He urged other corporate entities to emulate NBC’s contributions to community development and youth empowerment.

Lafarge Africa National Literacy Contest Produces Winners Funmi Ogundare Winners have emerged in the fifth Lafarge Africa National Literacy Competition (LANLC) with the theme ‘Bridging the Literacy Gap Together’. They are Master Kehinde Lawal and Idowu Ayomikun, who represented Lagos State, defeating 10 other pupils from Nasarawa, Kano, Rivers, Ebonyi and Gombe States. They smiled home with varying cash prizes, trophies and gifts.

The competition, launched in 2014 as a flagship CSR intervention by the organisation, has since grown to become a national initiative impacting children and teachers across the country.

Speaking at the grand finale held recently at the Civic Centre, Lagos, the Chief Executive Officer, Lafarge Africa, Michel Puchercos commended all the students that participated in every stage of the competition. “Apart from the cash prizes received, those who take part in this competition, go away with skills indispensable for building a sustainable future.

We recognise the importance of better literacy skills in helping individuals succeed in life. The competition builds capacity and contributes to developing this much-needed skill in public primary school students across Nigeria.�

He said since the launch of the initiative, it has impacted more

than 500,000 students across 544 local government areas, adding that with this year’s competition, it is delighted to have more critical stakeholders to broaden the scope of the intervention and improve the literacy skills of public school students. “The competition has been endorsed by the Universal Basic Education Commission (UBEC), a parastatal of the Federal Ministry of Education in charge of basic education across the country, for its outstanding contribution to the development of literacy in public primary schools.�

Nobel Laureate, Professor Wole Soyinka, who presented the keynote address titled ‘Bridging the Literacy Gap Together’, commended the company for taking up the initiative to urgently bridge the country’s widening literacy gap.

He expressed delight that some states known for high illiteracy levels were represented at the grand finale, saying, “it shows that the battle against illiteracy is not lost, it can be won.�

The Minister of State for Education, Professor Anthony Anwukah commended the organisation for taking literacy to the grassroots and also giving children from the areas the opportunity to compete with their colleagues and age mates from the urban areas, thereby sharpening their skills and improving their self-confidence which is essential to their development.

40

T H I S D AY Ëž Í°ÍśËœ Í°ÍŽÍŻÍś

CITYSTRINGS

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Stemming the Tide of Drug Abuse Chiemelie Ezeobi writes that the recent seizure of about N340 million worth of Tramadol at Apapa Port in Lagos by the National Drug Law Enforcement Agency is a call to action against the increasing menace of drug abuse

W

orld over, security agencies thrive on intelligence reports.

Often times, these intelligence reports require diligent follow ups and patience in tracking it through. For the National Drug Law Enforcement Agency (NDLEA), it was no different. The intelligence report they received about some containers fully loaded with illegal drugs like Tramadol designated to land in Nigeria came over a year ago.

While bidding their time, they tracked the containers unknown to the importers. The containers, which were on the watch-list of NDLEA since November 2017 were brought to the Nigeria Customs Service (NCS) for search based on the agency’s reasonable suspicion of the containers. Based on that intelligence report, the NCS dropped 28 of 62 containers slated for search, among which 12 of them were found to contain Tramadol, said to worth about N340 million.

The discovery was made public by NDLEA Head of Public Affairs, Mr. Jonah Achema, who said the tablets which were in various dosages ranging from 120 milligrams to 250 milligrams, were recovered from 12 containers in Apapa port.

According to Colonel Muhammad Abdallah (retd), Chairman, NDLEA, it is doubtful that this influx of Tramadol is for legitimate use. He said: “Tramadol, which is a derivative of Opiate is for post-surgery application but even if everybody in Nigeria undergoes surgery every year, we do not need the quantity that enters our country. It only suggests their diversion for illicit use."

These seizures are worrisome because in Nigeria, painkillers like Tramadol and Codeine have become the rave for recreational drug users. While others opt for Codeine, a cough syrup, the rave of the moment however is tramadol, an over the counter pain medication, because of its availability and low pricing.

The seized drugs being ooaded from the impounded containers

Worrisome Trend As if the recent discovery by NDLEA was not worrisome enough, the recent confessional statement of a suspected cultist, simply identified as Tolu, on the alleged stockpiling of illicit drugs by dealers, has further compounded already existing fears on the menance of illegal drugs on the society.

Tolu, who was arrested and paraded by the police in Lagos along with other suspected members of the notorious 'Awawa boys of Agege' in his confessional statement had revealed the possibility of the massive importation of Tramadol and Codeine by some businessmen.

In his confessional statement he alleged that dealers have placed order for the importation of Tramadol and Codeine, going by the rate of its acceptance by the youths. The 17-year-old regaled journalists how drug dealers are now stockpiling their shops with Tramadol and Codeine ahead of the Christmas and New Year celebrations.

The suspect alleged that most dealers have stocked their warehouses, adding that most of the buyers are youths. He said: "Most drug dealers and their agents are determined to distribute Tramadol to various areas. I sell and also use Tramadol and Codeine at times.

"Buyers are not allowed to go away with the packs. Each satchet is sold to known customers in order not to attract attention. In Agege, cart pushers are the highest users Tramadol."

His revelation was consistent with past ones, which had revealed that narcotics are shipped into Nigeria using carried variety of ships, from normal commercial or fishing vessels.

Investigations have indicated that past investigations carried out around the Apapa Ports indicate that while trafficking routes manned by narcotic agents have continued to change inline with intelligence report, small ships laden with drug cargos often drop their anchor outside Lagos waters, while small speed boats are used by dealers to go and pick the consignments at sea. This was further collaborated by a confession by a chandelier who said those who are into trans-shipment of cargoes at sea are often involved in drug deals.

Clampdown The recent upsurge in the clamour for such illicit drugs has necessitated a call to action for

Some of the cartons of seized Tramadol all Nigerians and those in authority. This recent developed prompted Achema to give a renewed call for nationwide action against drug abuse.

He however added that narcotics agents have intensified efforts at clamping down on wholesale and retail outlets for illicit drugs. He said the renewed effort accounted for the seizure of over N300 million worth of Tramadol at the port.

The only authorised oral dosage strengths for the market are 50 mg and 100 mg and any higher dosage is not approved for use in Nigeria and should not be in circulation in the country.

This makes any Tramadol tablet in excess of 100 mg an illicit drug, which only NDLEA has the statutory mandate to seize

He said the seizure came on the heels of a similar exercise late last year during which the agency seized 160 million tablets of the Tramadol at the same Apapa Port, adding that the agency has since charged the clearing agent behind the shipment of the 160 million tablets of Tramadol to court.

Stressing that the agency is also on the trail of those behind the shipment of the recent seizure he said: "This operational success by the agency is a product of a painstaking intelligence drive.

Following the Tramadol crisis in the country and the entire West African sub-region, the agency has been gathering intelligence on the shipment of illicit Tramadol into the country.

"The intelligence available to the agency was passed to the Nigeria Customs Service (NCS) in the spirit of inter-agency cooperation. Two of the suspected containers first arrived at the Apapa Port late last year, followed by another 12 until a total of 62 of them later berthed. The agency's vigilance made it difficult for the importers to divert the deadly consignments.

"On November 10, 2017, NCS positioned 12 of the containers out of which six of the containers were found to contain 160 million tablets of tramadol of 220 and 250 milligrams dosage. The remaining containers were not positioned for search until Wednesday November 14, 2018 when NCS positioned 23 of the containers from which a total of 581 million tablets of tramadol were seized. As at press time, 39 of the containers are still outstanding,

with NDLEA having strong suspicion that several more tramadol tablets would be found from them."

Achema said the crackdown on the importation of illicit Tramadol was as a result of the pervasive abuse of the drug by the populace. He added that the NDLEA had in 2017 reached out to National Agency for Food and Drug Administration and Control (NAFDAC) for an appropriate template for the suppression of the worrisome supply and abuse of Tramadol.

"There was a consensus between the two drug control agencies that the only authorised oral dosage strengths for the market are 50 mg and 100 mg and that any higher dosage is not approved for use in Nigeria and should not be in circulation in the country. This makes any Tramadol tablet in excess of 100 mg an illicit drug over which only NDLEA has the statutory mandate to seize.

"NDLEA also has the mandate to investigate and prosecute the offenders. The Tramadol tablets discovered so far are purely illicit, in various dosages ranging from 120 to 250 milligrams, are above the permissible threshold of 50 and 100 milligrams.

The drug consignments are with all the trappings of illicit drug trafficking. They were imported from India using false documents in the name of an unregistered company.

"As the search continues, it is only hoped that inter-agency rivalry will not overshadow the need to bring this illicit drug criminals to book in the overall interest of the nation."

41

T H I S D AY Ëž Í°ÍśËœ Í°ÍŽÍŻÍś

CRIME&SECURITY

Pastor Arraigned for Alleged Abduction, Having Carnal Knowledge of Member's Wife Adibe Emenyonu in Benin City

The 34-year-old Pastor of the Global Influence Ministry, Mr. Joseph Igwemoh, has been arraigned before an Oredo Magistrate Court for allegedly abducting and having carnal knowledge of his member's wife, one Mrs. Stella George.

The woman, said to be a chorister in his church, was actually wedded with her husband, Paul Nosakhare

by Igwemon.

Igwemon, who was arraigned on two count charges bordering on abduction and act likely to cause breach of peace, was accused of sleeping with Stella inside his church, pleaded not guilty

to the charges.

According to the charges, “that you Pastor Joseph Ig wemon on October 15, 2018 at about 1200 hours in your church, Global Influence Ministry at No 16 Owosenj Street, off Mission Road, did conduct yourself in a manner likely to cause the breach of peace by having carnal knowledge of one Stella George who is a chorister in your church, having wedded her and her husband one Paul Nosakhare and thereby committed an offence punishable under section 249 (d) of the Criminal Code Cap 48 Vol II Laws of the defunct Bendel State of Nigeria 1976 as applicable in Edo State. “That you Pastor Joseph

Igwemon on the same date, time and place in the aforesaid Magisterial district did abduct one Mrs. Stella George by keeping her in your house for months, knowing that she is married and thereby committed an offence punishable under section 361 of the Criminal Code Cap 48 Vol II Laws of the defunct Bendel State of Nigeria 1976 as applicable in Edo State.�

Presiding Magistrate, Mrs. Isi Ukhun Iyoha, granted the pastor bail in the sum of N200,000 and a surety in like sum, who must be again fully employed.

The case was adjourned to November 29, 2018 for definite hearing.

CRIME SITUATION REPORTS

SECURITY TIPS (PART 29) r %POhU BMMPX ZPVS DIJMESFO XIP DBOhU SFDPHOJTF WPJDF UP PQFO EPPST for strangers/visitors. r 4UBZ BXBZ GSPN BOZ TUSBOHF NBO XIP MPPLT MJLF B QSFHOBOU XPNBO he may be carrying harmful products. r -PDL VQ ZPVS DBST FWFO XIFO ZPV QBDLFE UIFN JO ZPVS DPNQPVOE Protect your cars and motorcycles keys from being duplicated by suspected criminals. r 1SPUFDU ZPVS TJN DBSET GSPN CFJOH TUPMFO CZ TVTQFDUFE DSJNJOBMT else they can use it for ransom negotiation. r 5FMM UIF UFBDIFST PG ZPVS DIJMESFO OPU UP SFMFBTF UIFN UP BOZCPEZ except on your request with evidence from you. r %POhU BMMPX TUSBOHF QFPQMF UP TMFFQ JO ZPVS IPVTF EJSFDU UIFN UP UIF OFBSFTU 1PMJDF TUBUJPO /JHFSJB 4FDVSJUZ BOE $JWJM %FGFODF $PSQT /4$%$ %44 r %POhU USBWFM XJUIPVU JOGPSNJOH BOZCPEZ SOURCE: Department of State Security

EMERGENCY NUMBERS FOR IMO STATE POLICE COMMAND (a) Police Control Room Nos: 08034773600 or 08098880197 (b) Commissioner of Police: 07065679050 D %FQVUZ $PNNJTTJPOFS PG 1PMJDF "ENJO

E %FQVUZ $PNNJTTJPOFS PG 1PMJDF 4$**% F %FQVUZ $PNNJTTJPOFS PG 1PMJDF 0QT

(f) Area Commander Owerri: 08034501453 (g) Area Commander Orlu: 08033280491 (h) Area Commander Okigwe: 07037527225 (i) Police Public Relations Officer, Imo State: 08081574002 SOURCE: Imo State Police Command

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.

1.Adeniji Adele, Lagos Island 09062887864 2. Isokoko 09062887856 3. Ilupeju 09062887848 4. Festac 09062887841 5. Alakuko 09062887861 6. Badagry 09062887852 7. Ajah 09062887849 8. Ikorodu (Igbogbo) 09062887858 9. Ketu 09062887866 10. Ikotun 09062887870 (FOEFS %FTL 1PMJDF $PNNBOE (3" *LFKB %JWJTJPOBM 1PMJDF 4UBUJPO 13. JWC Alakara 09062887859 SOURCE: Lagos State Police Command

LAGOS CP AND PRINCIPAL OFFICERS

Babandede Tasks Immigration OďŹƒcers to Show Rededication The wife of the Comptroller (FOFSBM PG *NNJHSBUJPO )BKJB Guadatu Babandede, has urged officers and men of the service to rededicate themselves to duty in the overall interest of the nation.

Babandede who is the National President of Immigration Officers Wives Association (IMMOWA), said it has become more expedient going by the important role the service plays when receiving foreign nationals who are visiting the country for the first time.

She made this call when she

paid a courtesy call on the Assistant Comptroller General of Immigration (ACG), Zone A, Lagos, Mohammed Alfa.

Babandede who was represented at the ocassion by the Zonal Chairperson *..08" ;POF " )BKJB Aisha Alfa, said the conduct of the service's officers is very important when dealing with visitors coming into the country.

She also urged officers to treat passport applicants with utmost respect, although she noted that the issuance

of passport had improved tremendously in the country.

She said: “I bring you good tidings from our National 1SFTJEFOU )BKJB (VBEBUV Babandede on whose instance I and members of our great association are here.

"She has noticed the good work you are doing at the zonal level and has directed us to urge you to keep the good work."

Responding the ACG Zona A, thanked members of the association for deeming it fit to visit the zone.

1. CP Imohimi Edgal, Commissioner of Police Lagos State 08033040870 %$1 "ZVCB &MLBOBI /BCVOJ %FQVUZ $PNNJTTJPOFS PG 1PMJDF Administration 08033422152 %$1 .VIBNNFE "MJ "SJ %FQVUZ $PNNJTTJPOFS PG 1PMJDF 0QFSBtions 08073666669 "$1 .PIBNNFE %BOMBEJ "SFB $PNNBOEFS " -BHPT *TMBOE 08034668470 5. ACP Sani Sabo, Area Commander B Apapa 08038452224 6. ACP Godwin Eze, Area Commander C Surulere 08023407772. "$1 "LJOCBZP 0MBTPKJ "SFB $PNNBOEFS % .VTIJO 8. ACP Yusuf Ajape, Area Commander E Festac 08037073372 9. ACP Ibrahim Zungura, Area Commander F, Ikeja 08052058001 "$1 "SVNTF + % "SFB $PNNBOEFS ( 0HCB "$1 .JMMFS %BOUBXBZF "SFB $PNNBOEFS ) 0HVEV 12. ACP Felix Oben, Area Commander J Elemoro 08033320682 "$1 )PQF 0LBGPS "SFB $PNNBOEFS , .PSPHCP 14. ACP Ishola Olarenwaju, Area Commander L Ilashe, 0810321160 15 ACP Agbaminoja Toyin, Area Commander M Idimu 08081776484 16. ACP Mohammed Ahmadu, Area Commander N Ijede 08055554664 17. ACP Abdulsalam Gazali Alade, Area Commander P Alagbado 08033539984 18. CSP Chike Oti, Police Public Relations Officer (PPRO), 07065246927 Source: The Lagos State Police Command

38

W E D N E S DAY Ëž NOVEMBER 28 2018

BUSINESS/MONEYGUIDE

CBN Injects Fresh $210m into Forex Market Nume Ekeghe The Central Bank of Nigeria (CBN) yesterday intervened in the wholesale segment of the foreign exchange market, offering the sum of $100 million to dealers in that window.

In the latest round of intervention, which was announced yesterday, the CBN also made interventions of $55 million each in the small and medium scale enterprises (SMEs) and invisibles segments to meet the needs of customers.

The Director, Corporate Communications Department at the CBN, Mr. Isaac Okorafor again assured of the Bank’s continued mediation in the interbank foreign exchange market in order to guarantee stability.

The Bank had last week also intervened in the wholesale segment of the inter-bank foreign exchange market to the tune of $210 million.

Meanwhile, the naira continued its stable run against the United States dollars yesterday, exchanging at an average of N362/$1 in the BDC segment of markets across Lagos and Abuja.

The President of the Association of Bureaux De Change of Nigeria (ABCON), Alhaji Aminu Gwadabe, was quoted in a statement to have said measures initiated by the CBN including the sustenance of dollar supply to over 4,000 Bureau De Change (BDC) operators across the country through the International Money Transfer Operations

(IMTOs) forex window has helped the status of the local currency.

Gwadabe said: “The naira remains stable despite political parties campaign spendings across the nation. The strategic partnership, actions and preactions of the CBN and ABCON have stopped distortions to the exchange rate due to ongoing politicking and campaign spending in the country.�

Continuing, he said the determination of the central bank to maintain the IMTOs forex window for the over 4,000 BDCs on weekly basis has brought steady liquidity in the market and discouraged unethical market behaviours like hoarding, speculation and frivolous demand.

FG Urged to Strengthen CreditAdministration, Mgt,to Grow Economy Eromosele Abiodun To quicken economic growth, there is need to strengthen credit administration and management so as to eliminate waste from the system and get both lenders and beneficiaries of credit facilities accountable, the Chief Finance Officer of Heyden Petroleum Limited, Dr. Jerry Igwilo has said. Speaking after his induction ceremony as a Fellow in Credit Administration at the Lagos Business School, he said the nation needs to borrow more to finance its huge infrastructure development. He, however warned governments at all levels to desist from borrowing just to finance recurrent expenditures like salary payment.

Igwilo, who was inducted along with many other eminent credit professionals as Fellows of

Institute of Credit Administration, was of the view that at about 21 per cent ratio to GDP, Nigeria’s debt portfolio was still below debt limits, but advised that the country should only borrow for capital projects which could benefit future generation.

According to him, “For us to grow our economy, for us to build the quantum of infrastructure that we require in this economy today, the country needs to borrow. But one thing that is critical and very important is that when we borrow, we must manage it well. “We should not borrow to manage our recurrent expenditure, for non-capital expenditures. That is wrong. We must borrow for capital expenditure only. “So, I think the country is good to borrow but the administration of this borrowing must

be enhanced so that the goals and objectives of the borrowing are met and the country as a whole will be developed in a way that future generation will enjoy it.�

He expressed worry over huge non-performing loans in the banking sector and the economy at large, blaming it on failure of professionals and the lenders to apply guiding principles of credit which he called the 5C’s of credit. “We still have a lot of work of to be done in credit administration and management. We have a lot of non-performing loans in the banking sector which is a fundamental issue of credit.

If the credit process was done right and appropriately too, there would be significant reduction in non-performing loans (NPL) in the system.

Fidelity Bank to Reward More Customers Nume Ekeghe Fidelity Bank Plc yesterday presented the first set of winners of its Get Alert in Millions (GAIM) season three promo.

At the first presentation of the promo, 13 customers went home with cash prizes of N1 million and N2 million respectively, while 18 others went home with consolation prizes which ranged from table top fridges, television and power generating sets.

The 31 winners that emerged at the first monthly draw of the promo cut across the six draw zones: Lagos, southwest, north, Abuja, south-east and south-south. Speaking at the presentation, Executive Director of the bank, Chijioke Ugochukwu, said the bank has

sustained the promo so as to improve the living standard of its customers.

GAIM3 which is eight promo conducted by the bank in 11 years allows customers from across the country to win million in monthly and bi monthly draws. She urged customers to imbibe a savings culture which is a prerequisite for qualifying for the promo whilst encouraging those yet to have account with the bank to do so.The winners expressed gratitude to the bank, saying they did not believe the news when they were initially told of their wins. One of the winners who won N1 million, Ogene Prince Udoka, said he had his doubts when he was initially informed of his win.

Udoka, who travelled from the eastern part of the country to claim his prize said he intends

to surprise his mother, celebrate the festive period and invest the rest of the sum.

Another winner, who runs Charkyl Energy Limited, said he has been telling his friends and associate to open accounts with Fidelity Bank since his he received the news. “At first when they called me, I didn’t believe because I thought it was all those scammers so I sent one of my boys to go and check at the bank. “He came bank and told me that they said I won N1 million but is still did not believe until my account officer called me.

This Fidelity Bank promo is real I can testify to it� he said.

A former winner who won N1 million at the second edition of the promo held last year, Chizoba John, also won a consolation prize going home with a flat screen television.

Firm Organises Forum on Ethics and Compliance The Udo Udoma & BeloOsagie(UUBO) is concluding arrangements to hold its Investigations, Compliance and Ethics (ICE) Academy scheduled for December 6, 2018 in Lagos.

The academy, which is another event in UUBO’s learning and engagement series has as its theme: ‘Best Practices from the Frontline.’ In anticipation of the event, a Partner in the firm, Yinka Edu, said: “A strong

culture of ethics and compliance is the foundation of a robust risk anagement programme, and we at UUBO are committed to increasing the knowledge pool for corporate entities who wish to remain ahead of the curve in terms of compliance and ethical business practices.�

According to her, the 2018 ICE Academy, designed as a highly interactive forum, would be a free-to-attend convening helmed

by a carefully selected regional and international experts in the field of investigations, compliance and ethics. Commenting on the event, the Managing Partner and co-founder of the Kenya office of leading African law firm, Bowmans, Richard Harney, said: “Africa has long been viewed as a continent where carrying out business is a challenge, partly due to inefficiency and corruption.

R-L: Managing Director, Chief Executive Officer, Asset Management Corporation of Nigeria (AMCON), Mr. Ahmed Lawan Kuru receiving an award from the President of the Alumni Association of the National Institute, Mr. Khaleel Bolaji, at the Presidential Dinner for the Graduating Senior Executive Course 40 Participants at Army Headquarters Command Officers’ Mess in Abuja‌recently

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

MARCH 2018 Broad Money (M2)

24,303,049.86

-- Narrow Money (M1)

10,912,604.10

---- Currency Outside Banks

1,668,378.21

---- Demand Deposits

9,244,225.90

-- Quasi Money

13,390,445.76

Net Foreign Assets (NFA)

15,619,134.18

Net Domestic Assets(NDA)

8,683,915.68

-- Net Domestic Credit (NDC)

26,267,136.53

---- Credit to Government (Net)

3,823,345.45

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

5,433,209.43

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

-1,609,863.98

---- Credit to Private Sector (CPS)

22,443,791.08

--Other Assets Net

-17,583,220.85

Reserve Money (Base Money)

6,746,646.49

--Currency in Circulation

1,668,378.21

--Banks Reserves

4,357,551.58 Ëž Ă™Ă&#x;ĂœĂ?Ă? Ě‹

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

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

OPEC DAILY BASKET PRICE AS AT MONDAY, 26 NOVEMBER 2018

The price of OPEC basket of ďŹ fteen crudes stood at $59.29 a barrel on Monday, compared with $60.27 the previous Friday, according to OPEC Secretariat calculations.

The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), ZaďŹ ro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

SOURCE: OPEC headquarters, Vienna

39

W E D N E S DAY ˾ NOVEMBER 28 2018

MARKET NEWS

Continental Reinsurance Offers to Buy Out Minority Shareholders Goddy Egene Continental Reinsurance African Investments Limited (CRe Investments), which is the parent firm of Continental Reinsurance (CRe Nigeria)Plc, has proposed to buy all the outstanding shares of CRe Nigeria. In a notification to the Nigerian Stock Exchange (NSE), yesterday, the board of CRe Nigeria, said it has received an offer from CRe African Investments Limited to acquire all the

outstanding and issued shares through a scheme of arrangement. According to company, CRe Investments is making this offer in order to initiate a much needed restructuring exercise for CRe Nigeria, with a view to consolidating the CRe Nigeria’s operations and repositioning it for enhanced competitiveness in the global insurance market.

It is intended that the transaction will be executed through a Scheme of Arrangement under

P R I C E S MAIN BOARD

F O R

DEALS

Section539 of the Companies& Allied Matters Act Cap C20 Laws of the Federation of Nigeria 2004 and other applicable rules and regulations.

CRe Investments is offering N2.04 per share for the 10,372,744,314 ordinary shares of 50 kobo each or one ordinary shares of $1 each in the capital of CRe Investments for every 176 ordinary share of 50 kobo each held in CRe Nigeria The proposed scheme consideration

S E C U R I T I E S

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

represents a 46.76 per cent premium to the last traded share price of the Company on October 5, 2018, being the last business day prior to the date the proposal was received from CRe Investments and a 36 per cent premium on the trading price as at close of the last business day, November 19, 2018. The company said it had received the Securities & Exchange Commission’s ‘No Objection ‘to the scheme.

T R A D E D MAIN BOARD

A S

The scheme is also subject to the approval of the shareholders at a CourtOrdered Meeting as well as the sanction of the Federal High Court. The meeting is scheduled to hold on December 20, in Lagos. “Shareholders are advised to exercise caution when dealing in CRe Nigeria’s shares until a further announcement is made,” the company advised.

Meanwhile, trading at the stock market remained bearish

O F

with the NSE All-Share Index declining by 1.3 per cent to close loser at 31,173.71 due to sell-offs in Seplat (-9.6 per cent ), Dangote Cement Plc (-1.4 per cent) and sustained profit taking in GTBank (-2.5 per cent).

Thus, year-to-date (YTD) declined has worsened to -18.5 per cent. However, volume and value traded improved, rising by 73.7 per cent and 41.9 per cent to 182.1 million shares and N2.8 billion respectively.

2 6 / 1 1 / 2 0 1 8 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

˾ WEDNESDAY, NOVEMBER 28, 2018

40

Wednesday, November 28, 2018

THISDAY AFRINVEST 40 INDEX

ThisDay Afrinvest Sheds 155bps zĞƐƚĞƌĚĂLJ͕ ƚŚĞ dŚŝƐ ĂLJ ĨƌŝŶǀĞƐƚ ƐŚĞĚ ϭϱϱďƉƐ ƚŽ ƐĞƩůĞ Ăƚ

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

ϭ͕Ϯϵϴ͘Ϭϯ ƉŽŝŶƚƐ ĂƐ ƐĞůů ƉƌĞƐƐƵƌĞƐ ŝŶ GUARANTY (-2.5%), ZENITH (-1.5%), and DANGCEM (-1.0%) dragged the index.

Ticker

Current Price

dŚĞƐĞ ƐƚŽĐŬƐ ĐƵŵƵůĂƟǀĞůLJ ĂĐĐŽƵŶƚ ĨŽƌ ϰϮ͘ϰй ŽĨ ƚŚĞ ŝŶĚĞdž͘

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

THISDAY AFRINVEST 40 1,298.03

Local Bourse Extends Losing Streak͙ASI drops 129bps

dŚĞ ďĞĂƌŝƐŚ ƚƌĞŶĚ ĮůƚĞƌĞĚ ŝŶƚŽ LJĞƐƚĞƌĚĂLJ͛s trading session ĂƐ ƚŚĞ E^ ůů ^ŚĂƌĞ /ŶĚĞdž ; ^/Ϳ ĚĞĐůŝŶĞĚ ϭ͘ϯй ƚŽ ƐĞƩůĞ Ăƚ ϯϭ͕ϭϳϯ͘ϳϭ ƉŽŝŶƚƐ ĚƵĞ ƚŽ ƐĞůů-ŽīƐ ŝŶ SEPLAT (-9.6%), DANGCEM (-ϭ͘ϰйͿ ĂŶĚ ƐƵƐƚĂŝŶĞĚ ƉƌŽĮƚ ƚĂŬŝŶŐ ŝŶ GUARANTY

(-Ϯ͘ϱйͿ͘

dŚƵƐ͕

ŵĂƌŬĞƚ

ĐĂƉŝƚĂůŝƐĂƟŽŶ

depreciated by Eϭϯϭ͘ϰďŶ ƚŽ ƐĞƩůĞ Ăƚ Eϭϭ͘ϰƚŶ ǁŚŝůĞ zd ĚĞĐůŝŶĞĚ ƚŽ -18.5%.

dŚĞ ǀŽůƵŵĞ ĂŶĚ ǀĂůƵĞ ƚƌĂĚĞĚ

ROA

P/E

P/BV

-15.9%

29.8%

19.4%

7.3%

6.0x

0.7x

6.6%

Guaranty Trust Bank PLC

35.00

-2.5%

21.9%

-14.1%

-13.7%

34.1%

5.6%

5.2x

2.0x

7.6%

19.2%

2

Zenith Bank PLC

23.60

-1.5%

14.3%

-8.0%

-9.0%

23.7%

3.4%

4.1x

1.0x

11.6%

24.7% 3.8%

Nigerian Brew eries PLC

4

Nestle Nigeria PLC

5

Dangote Cement PLC

79.40

0.0%

6.3%

-41.1%

-41.2%

13.8%

6.4%

26.6x

3.8x

4.7%

0.3%

9.1%

-4.6%

-4.6%

85.8%

26.3%

26.8x

20.9x

3.2%

3.7%

193.00

-1.0%

6.2%

-16.1%

-16.1%

20.1%

9.8%

20.1x

4.3x

5.4%

5.0%

6

FBN Holdings Plc

7.35

-2.0%

5.5%

-16.5%

-16.4%

6.6%

0.8%

5.3x

0.4x

3.4%

19.0%

7

Access Bank PLC

7.10

-2.7%

3.6%

-32.1%

-33.0%

14.1%

1.7%

3.0x

0.4x

9.0%

33.9%

8

United Bank for Africa PLC

7.50

-2.0%

3.8%

-27.2%

-28.0%

15.4%

1.8%

3.4x

0.6x

11.2%

9

Ecobank Transnational Inc

15.75

0.0%

3.6%

-7.4%

-3.2%

12.1%

1.0%

4.9x

0.6x

590.00

-9.6%

3.5%

-3.5%

-5.8%

25.9%

15.3%

2.6x

0.6x

3.1%

38.8%

48.95

0.0%

4.1%

18.0%

19.7%

35.7%

4.6%

7.2x

2.3x

2.0%

13.8%

10

SEPLAT Petroleum Development C

11

Stanbic IBTC Holdings PLC

12

Unilever Nigeria PLC

39.50

0.0%

2.9%

-3.7%

-1.8%

24.7%

11.5%

18.4x

2.7x

1.3%

5.4%

Guinness Nigeria PLC

74.00

0.0%

2.2%

-21.3%

-21.3%

8.8%

5.0%

19.9x

1.8x

2.5%

5.0%

0.6%

-71.0%

-71.0%

-53.7%

-7.9%

0.9x

10.9%

-49.9%

5.7%

Lafarge Africa PLC

13.00

-5.5%

15

Fidelity Bank PLC

1.92

-3.5%

1.2%

-22.0%

-25.6%

11.3%

1.5%

2.5x

0.3x

ĂŶĚ ϰϭ͘ϵй ƚŽ ϭϴϮ͘ϭŵ ƵŶŝƚƐ ĂŶĚ EϮ͘ϴďŶ ƌĞƐƉĞĐƟǀĞůLJ͘ dŚĞ

16

Oando PLC

4.95

2.1%

1.3%

-17.4%

-17.4%

10.9%

1.7%

4.1x

0.3x

ǁŚŝůĞ CCNN

;EϲϴϮ͘ϵŵͿ͕ NESTLE

;Eϱϱϭ͘ϰďŶͿ ĂŶĚ

NIGERIAN BREWERIES ;EϮϵϳ͘ϳďŶͿ ǁĞƌĞ ƚŚĞ ƚŽƉ ƚƌĂĚĞĚ

ƐƚŽĐŬƐ ďLJ ǀĂůƵĞ͘

29.4% 20.2%

13 14

ACCESS ;Ϯϵ͘ϯŵ ƵŶŝƚƐͿ ĂŶĚ TRANSCORP ;ϮϮ͘ϰŵ ƵŶŝƚƐͿ

11.4%

1,485.00

LJĞƐƚĞƌĚĂLJ ŚŽǁĞǀĞƌ ŝŵƉƌŽǀĞĚ ĂƐ ƚŚĞLJ ĂĚǀĂŶĐĞĚ ďLJ ϳϯ͘ϳй

ƚŽƉ ƚƌĂĚĞĚ ƐƚŽĐŬƐ ďLJ ǀŽůƵŵĞ ǁĞƌĞ CCNN ;ϯϳ͘ϵŵ ƵŶŝƚƐͿ͕

Divinden Earnings d Yield Yield

1

3

-1.55%

ROE

39.9% 24.3%

17

Dangote Sugar Refinery PLC

13.15

0.4%

0.9%

-34.3%

-35.4%

32.6%

16.4%

5.2x

1.5x

13.3%

19.1%

18

Okomu Oil Palm PLC

75.50

0.0%

1.4%

11.5%

11.5%

39.3%

29.7%

7.2x

2.5x

4.0%

13.9%

19

International Brew eries PLC

30.75

0.0%

0.5%

-43.6%

-44.1%

24.6%

7.4%

32.2x

7.3x

20

Flour Mills of Nigeria PLC

19.50

-4.9%

0.5%

-32.8%

-32.8%

7.6%

2.3%

6.7x

0.5x

5.0%

14.9% 18.1%

3.1%

21

Transnational Corp of Nigeria

1.16

-2.5%

0.6%

-20.5%

-21.6%

13.6%

3.0%

5.5x

0.7x

1.7%

22

UAC of Nigeria PLC

10.10

2.0%

0.4%

-40.2%

-40.2%

1.4%

0.6%

79.2x

0.4x

6.5%

23

Diamond Bank PLC

0.81

-5.8%

0.3%

-46.0%

-48.4%

-5.8%

-0.7%

24

Total Nigeria PLC

-14.5%

-14.5%

34.6%

7.5%

6.9x

2.2x

8.7%

14.6%

25

FCMB Group Plc

-5.1%

6.7%

1.0%

2.5x

0.2x

6.7%

40.5%

5.3x

1.8x

5.0%

196.50

0.0%

0.5%

1.50

-1.3%

0.6%

0.1x

1.3% -86.6%

26

11 PLC

160.00

-3.0%

0.5%

-17.8%

-17.8%

38.0%

16.8%

Insurance Index Emerges Lone Gainer

27

Forte Oil PLC

17.30

-9.9%

0.2%

-60.2%

-58.8%

29.7%

3.0%

28

PZ Cussons Nigeria PLC

10.55

-9.8%

0.2%

-48.8%

-50.1%

1.0x

1.4%

WĞƌĨŽƌŵĂŶĐĞ ĂĐƌŽƐƐ ƐĞĐƚŽƌƐ ǁĂƐ ůĂƌŐĞůLJ ďĞĂƌŝƐŚ ĂƐ ϰ of 5

29

Cadbury Nigeria PLC

9.75

6.0%

0.3%

-37.8%

-37.5%

4.7%

1.9%

34.0x

1.6x

1.6%

2.9%

30

Presco PLC

62.15

0.0%

0.4%

-9.3%

-9.3%

37.0%

24.8%

2.5x

0.8x

3.4%

40.7%

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%

ŝŶĚŝĐĞƐ ƵŶĚĞƌ ŽƵƌ ĐŽǀĞƌĂŐĞ ĚĞƉƌĞĐŝĂƚĞĚ͘ dŚĞ /ŶƐƵƌĂŶĐĞ ŝŶĚĞdž ĞŵĞƌŐĞĚ ĂƐ ƚŚĞ ůŽŶĞ ŐĂŝŶĞƌ ĚƵĞ ƚŽ ƉƌŝĐĞ ĂƉƉƌĞĐŝĂƟŽŶ ŝŶ CONTINSURE (+9.7%). KŶ ƚŚĞ ŇŝƉ ƐŝĚĞ͕ ƚŚĞ Kŝů Θ 'ĂƐ ŝŶĚĞdž ĚĞĐůŝŶĞĚ ƚŚĞ ŵŽƐƚ͕ ĚŽǁŶ ϱ͘ϵй ĨŽůůŽǁŝŶŐ

1.3x

33

Union Bank of Nigeria PLC

5.15

2.0%

0.3%

-34.0%

-31.4%

5.3%

1.0%

9.3x

0.5x

34

Julius Berger Nigeria PLC

21.00

0.0%

0.3%

-25.0%

-25.0%

17.3%

1.8%

5.8x

0.9x

4.3x

35

Sterling Bank PLC

1.64

0.6%

0.5%

51.9%

45.1%

10.6%

1.1%

36

Dangote Flour Mills Plc

6.25

1.6%

0.2%

-48.6%

-48.6%

0.0%

0.0%

37

GlaxoSmithKline Consumer Niger

14.50

0.0%

0.2%

-32.9%

-32.9%

12.1%

7.2%

ƉŽƐƐŝďůĞ ĂƌďŝƚƌĂŐĞ ŽƉƉŽƌƚƵŶŝƟĞƐ͘ dŚĞ ĂŶŬŝŶŐ /ŶĚĞdž

38

Chemical and Allied Products P

34.95

9.4%

0.3%

2.8%

-2.1%

66.2%

30.2%

ƚƌĂŝůĞĚ͕ ĚŽǁŶ ϭ͘ϳй ĚƵĞ ƚŽ ƐĞůů-ŽīƐ ŝŶ GUARANTY (-2.5%)

39

Beta Glass PLC

68.30

10.0%

0.2%

33.1%

33.1%

17.7%

11.5%

8.3x

40

Transcorp Hotels Plc

6.10

0.0%

0.1%

-15.4%

-15.4%

6.9%

3.8%

11.9x

ƐĞůů ƉƌĞƐƐƵƌĞƐ ŝŶ SEPLAT

(-ϵ͘ϲйͿ ůĂƌŐĞůLJ ĚƵĞ ƚŽ

and ACCESS (-Ϯ͘ϳйͿ͘ ^ŝŵŝůĂƌůLJ͕ ƚŚĞ ŽŶƐƵŵĞƌ 'ŽŽĚƐ ĂŶĚ /ŶĚƵƐƚƌŝĂů ŝŶĚŝĐĞƐ ƐŚĞĚ ďLJ Ϭ͘ϲй ĂŶĚ Ϭ͘ϵй ƌĞƐƉĞĐƟǀĞůLJ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ůŽƐƐĞƐ ŝŶ PZ (-9.8%), FLOURMILL (-ϰ͘ϵ йͿ͕ CCNN (-0.8%) and WAPCO (-5.5%).

/ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ Further Weakens /ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ ĂƐ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ ;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ ĨƵƌƚŚĞƌ ǁĞĂŬĞŶĞĚ ƚŽ Ϭ͘ϲdž ĨƌŽŵ

T o p 10 G a i n e r s

CONTINSURE (+9.7%) and CAP ;нϵ͘ϰйͿ ǁĞƌĞ ƚŚĞ ďĞƐƚ ƉĞƌĨŽƌŵŝŶŐ ƐƚŽĐŬƐ ǁŚŝůĞ AGLEVENT (-10.0%), FORTE OIL (9.9%) and PZ (-ϵ͘ϵйͿ ůĞĚ ƚŚĞ ůĂŐŐĂƌĚƐ͘ dŚĞ ƐŝŐŶŝĮĐĂŶƚ ƐĞůů ŽīƐ ŝŶ ďĞůůǁĞƚŚĞƌƐ ŽďƐĞƌǀĞĚ LJĞƐƚĞƌĚĂLJ ƉƌĞƐĞŶƚƐ ďĂƌŐĂŝŶ

ŚƵŶƟŶŐ ŽƉƉŽƌƚƵŶŝƟĞƐ ĨŽƌ ŝŶǀĞƐƚŽƌƐ͕ ƚŚƵƐ ǁĞ ĞdžƉĞĐƚ ĂŶ ƵƉƟĐŬ ŝŶ ŵĂƌŬĞƚ ƉĞƌĨŽƌŵĂŶĐĞ ƚŽǁĂƌĚƐ ƚŚĞ ĞŶĚ ŽĨ ƚŚĞ ǁĞĞŬ͘

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

10.7% 4.8%

17.2% 23.2%

0.4x

1.2%

0.8x

3.2%

11.6x

2.0x

51.7%

8.6%

16.3x

10.9x

5.9%

6.1%

1.4x

1.6%

12.0%

0.8x

2.0%

8.4%

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

T ic k er

P ric e

P ric e C hg %

B ET A GLA S

68.30

10.0%

1.70

9.7%

34.95

9.4%

C A D B UR Y

9.75

WEM A B A N K

T ic k er

Vo lum e

P ric e C hg %

CCNN

37.9

-0.8%

A C C ESS

29.3

-2.7%

T R A N SC OR P

22.4

-2.5%

6.0%

UB A

12.5

-2.0%

0.57

5.6%

FB NH

12.1

-2.0%

M C N IC H OLS

0.47

4.4%

FCM B

8.2

-1.3%

OA N D O

4.95

2.1%

F ID ELIT YB K

7.7

-3.5%

UA C N

10.10

2.0%

D IA M ON D B N K

6.1

-5.8%

UB N

5.15

2.0%

GUA R A N T Y

5.3

-2.5%

NP FM CRFB K

1.56

2.0%

UN ILEVER

4.9

0.0%

C ON T IN SUR E CA P

Ϭ͘ϵdž ƌĞĐŽƌĚĞĚ ŝŶ ƚŚĞ ůĂƐƚ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶ ĂƐ ϭϰ stocks appreciated against 23 ĚĞĐůŝŶĞƌƐ͘ BETAGLAS (+10.0%),

18.7% -12.1%

T o p 10 L o s e r s T ic k er

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

P ric e

P ric e C hg %

A GLEVEN T

0.27

-10.0%

FO

17.30

-9.9%

PZ

10.55

-9.8%

590.00

-9.6%

SEP LA T

T ic k er

Value

P ric e C hg %

CCNN

682.9

-0.8%

N EST LE

551.4

0.3%

NB

297.7

0.0%

A C C ESS

212.2

-2.7%

P R EST IGE

0.77

-9.4%

UN ILEVER

195.3

0.0%

VER IT A SKA P

0.21

-8.7%

GUA R A N T Y

184.9

-2.5%

D IA M ON D B N K

0.81

-5.8%

SEP LA T

124.8

-9.6%

WA P C O

13.00

-5.5%

UB A

93.9

-2.0%

F LOUR M ILL

19.50

-4.9%

FB NH

88.2

-2.0%

A IIC O

0.63

-4.5%

Z EN IT H B A N K

86.0

-1.5%

Investment Research

Brokerage Ayodeji Ebo | aebo@afrinvest.com

Robert Omotunde |

Bolaji Fajenyo | bfajenyo@afrinvest.com

Jolomi Odonghanro | jodonghanro@afrinvest.com

romotunde@afrinvest.com

T H I S D AY Ëž Ëœ ÍşÎ€Ëœ ͺ͸͚͜

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MARKET NEWS

Investment One Financial Services Holds Forum to Mark 10th Anniversary Goddy Egene Investment One Financial Services, a leading company in Investment management is celebrating its 10th year anniversary. The company, which started its journey as GTB Asset Management in 2008, officially rebranded to Investment One Financial Services in 2012 when it moved from being an asset management to becoming a financial services group. Over the years, the group has grown with subsidiaries including; Investment One Stockbrokers

International, Investment One Pension Managers, Investment One Funds Management, Investment One Capital Management and Investment One Vencap, which offer trust services, financial advisory services, securities brokerage, real estate, private equity/venture capital, fund management and pensions services to individuals, corporate institutions, state governments and government agencies.

The company has also covered grounds in the technology space by pioneering the Virtual Investment Simulator (VIS), an online trading

A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager.

Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return.

An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the

simulator game which has hosted occasional leagues and rewarded top traders in the game at the end of the leagues. Towing the same line, the company’s easy trade platform also allows clients regardless of their location to trade online.

And to commemorate their 10th year anniversary, Investment One Financial Services said it would hosting a special symposium tagged: “Ideas Shaping the future� on the tomorrow (November 29,) at Landmark Event Centre, Victoria Island) which is inspired by the company’s 10 years of excellence

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 2611-2018, unless otherwise stated.

celebration. “The event promises a host of speakers knowledgeable in different sectors as they merge their ideas to create practical ideas for the future across key sectors. The event is free but registration is mandatory, which can be done at www.investment-one.com,� the company said.

Through its subsidiaries, Investment One Financial Services offer private banking services, which it said are dedicated to providing high net worth and institutional clients with distinctive and bespoke

wealth management, trust products and services to enable them preserve their wealth, whilst providing competitive returns and ensuring flexibility for their needs. “We dedicate time to understand each client’s needs and weigh their risk appetite to offer distinct investment solutions,� the company explained.

It also offered structured finance and advisory services where its experienced and competent advisory team provide a suite of specialised investment banking services to its esteemed clients,

which include private and public companies, governments, statutory corporations and multilateral financial institutions.

The company equally has mutual funds business that that provides individual and corporate clients access to its collective investment management services. It also provides pensions administration product and services to individual and corporate pension schemes, just as its brokerage business executes client mandates to buy or sell fixed income and equity securities on the Nigerian Stock Exchange.

Offer price: The price at which units of a trust or ETF are bought by investors.

Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return.

NAV: is value per share of the real estate assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 1 270 1680 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund N/A N/A N/A Afrinvest Plutus Fund 100.00 100.00 N/A Nigeria International Debt Fund N/A N/A N/A ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund 0.83 0.84 1.03% ACAP Income Funds 0.63 0.63 6.73% 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 2.21 2.23 -3.85% 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 16.67 17.17 -8.76% ARM Discovery Fund 357.94 368.73 -8.00% ARM Ethical Fund 28.20 29.05 3.23% ARM Money Market Fund 1.00 1.00 12.39% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 13.47% Paramount Equity Fund 11.54 11.84 4.10% Women's Investment Fund 101.39 103.99 0.76% 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 N.A Cordros Milestone Fund 2023 N/A N/A N/A Cordros Milestone Fund 2028 N/A N/A N/A CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund 1.00 1.00 12.20% Coronation Balanced Fund 0.85 0.86 Coronation Fixed Income Fund 1.15 1.15 10.02% 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 11.82% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 12.42% 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 1,168.42 1,169.17 11.37% FBN Heritage Fund 142.09 143.31 1.88% FBN Money Market Fund 100.00 100.00 12.76% FBN Nigeria Eurobond (USD) Fund - Institutional 112.52 112.92 3.36% FBN Nigeria Eurobond (USD) Fund - Retail 112.27 112.67 3.24% FBN Nigeria Smart Beta Equity Fund 146.66 148.74 -7.68% 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 1.21 1.24 -5.94% Legacy Debt Fund 3.21 3.21 11.07% Legacy USD Bond Fund 1.02 1.02 1.97% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Growth Fund N/A N/A N/A Coral Income Fund N/A N/A N/A GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund 100.00 100.00 12.20% Nigeria Entertainment Fund 105.79 106.10 5.38% INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 12.03%

Vantage Balanced Fund 2.15 2.17 1.77% Vantage Guaranteed Income Fund 1.00 1.00 15.11% Kedari Investment Fund (KIF) 123.28 123.50 7.12% 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 1.20 1.22 4.50% Lotus Halal Fixed Income Fund 105.79 106.10 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 11.16 11.25 -13.78% Meristem Money Market Fund 10.00 10.00 11.42% 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 N/A N/A N/A PACAM Fixed Income Fund N/A N/A N/A PACAM Money Market Fund N/A N/A N/A 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 126.71 127.11 -2.32% 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 1.69 1.69 13.50% 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 2,314.35 2,329.41 5.31% Stanbic IBTC Bond Fund 187.92 187.92 7.92% Stanbic IBTC Ethical Fund 0.96 0.97 -4.46% Stanbic IBTC Guaranteed Investment Fund 244.96 245.00 13.50% Stanbic IBTC Iman Fund 161.51 163.34 -9.81% Stanbic IBTC Money Market Fund 100.00 100.00 11.54% Stanbic IBTC Nigerian Equity Fund 8,569.31 8,673.95 -9.90% Stanbic IBTC Dollar Fund (USD) 1.10 1.10 6.70% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.17 1.18 -1.53% United Capital Bond Fund 1.58 1.58 10.26% United Capital Equity Fund 0.70 0.71 -7.39% United Capital Money Market Fund 1.00 1.00 12.65% United Capital Eurobond Fund 106.43 106.43 6.35% United Capital Wealth for Women Fund 1.08 1.09 3.85% 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 11.19 11.35 -7.28% Zenith Ethical Fund 12.14 12.25 -6.59% Zenith Income Fund 20.55 20.55 11.29% Zenith Money Market Fund 1.00 1.00 11.71%

REITS

NAV Per Share

Yield / T-Rtn

9.00 139.26 51.55

-20.11% 5.13% 1.42%

Bid Price

Offer Price

Yield / T-Rtn

117.07 89.66

119.55 91.35

0.00% -18.04% -17.92%

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

4.05 7.28 14.80 12.77 141.03

4.09 7.36 14.90 12.97 143.03

-14.49% -23.81% -15.23% -34.89% 4.99%

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 manager’s website and FMAN’s website at www.fman.com.ng. Fund prices are supplied by the operator of the relevant fund and are published for information purposes only.

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THISDAYt WEDNESDAY NOVEMBER 28, 2018

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46

WEDNESDAY NOVEMBER 28, 2018 ˾ T H I S D AY

INTERNATIONAL

Impunity Bane of Africa’s Political Devt, Says Ex-Ghanaian President Hammed Shittu in Ilorin Former President of Ghana, Mr. John Kuffour, yesterday lamented the act of impunity and non-adherence to the rule of law on the part of African leaders.

He said such attitude portends a serious danger to the socio- economic and political stability of the

continent.

Kuffour made this disclosure in Ilorin, Kwara State capital, after he was awarded Honourary doctoral degree in Public Administration by the management of the Kwara State University, Malete, during the special convocation ceremony of the university.

Other personality honoured at the event is a foremost

UK Can Unilaterally Reverse Brexit, EU Top Court Told Britain can unilaterally reverse its decision to leave the EU, Europe’s top court was told on Tuesday at an urgent hearing in a case supporters of membership hope could pave the way to a second referendum and ultimately stop Brexit.

Lawyers for a group of Scottish politicians want the European Court of Justice (ECJ) to interpret whether Britain can revoke its notice to withdraw from the EU under Article 50 of the Lisbon Treaty without agreement of the other 27 states.

Britain is due to exit the world’s biggest trading bloc on March 29 but it remains unclear whether British Prime Minister Theresa May’s draft divorce deal agreed with the EU on Sunday will be passed by parliament on Dec. 11.

Aidan O’Neill, lawyer for the Scottish politicians told a hearing of a full court of Luxembourg justices, who have expedited the case because of its urgency, said all parties agreed that Article 50 could be revoked.

However, he said the European Commission and Council of the European Union argued that it could only be done with the unanimous agreement of the other 27 EU states.

The British government has fought to stop the ECJ even hearing the case, saying it is hypothetical and irrelevant because ministers have no intention of

reversing Brexit.

May has also consistently ruled out a second referendum.

“The petitioners’ case is that it’s fundamental to the treaties and values of the EU that a member state can revoke a withdrawal notice from the EU without agreement of all other council states,” O’Neill said.

O’Neill told the court those behind the case needed to know what their options were before imminent legislative votes.

May has warned if her deal is not passed by UK lawmakers, Britain could leave without a deal or that there could be no Brexit at all.

That latter statement has given added significance to the outcome of Tuesday’s case at the ECJ – whose supremacy over UK legal matters May has cited as one reason to leave the EU. If the ECJ concludes Britain can unilaterally reverse Brexit, it could give British lawmakers (MPs) a third viable option as an alternative to May’s deal or what ministers describe as a chaotic no deal scenario – staying in the bloc after another referendum.

Article 50 states that if a state decides to withdraw, it has two years to agree an exit deal with the remaining 27 EU members, although this process can be extended if the European Council unanimously agrees.

Six Civilians, Rebel Killed in Eastern DR Congo Six civilians and a rebel fighter were killed overnight during an attack by the ADF armed group in the troubled east of the DR Congo, civilian and military sources said Tuesday.

The attack in the town of Oicha sparked a protest by several thousand conflict-weary residents of nearby Beni, the scene of frequent raids blamed on the Allied Democratic Forces, a Ugandan jihadist group.

“The ADF raided overnight Monday,” Beni administrator Donat Kibwana told AFP. “They were repelled by the army but unfortunately they killed six civilians, and the army killed one ADF (fighter).”

Army spokesman Captain Mak Hazukay confirmed the death toll from the attack, which comes less than four weeks before crucial elections set for December 23 in the vast former Belgian colony.

Jonas Mbulete, a resident of Oicha, which is around 30 kilometres (18 miles) north of Beni, said the assailants burned five homes.

Two other people died Monday

during a separate attack blamed on the ADF. The army of the Democratic Republic of Congo and troops of the UN peacekeeping mission MONUSCO began a joint operation against the group two weeks ago.

Marchers on Tuesday carried banners reading “Enough is enough” and bearing slogans in support of the army and MONUSCO. Beni has also borne the brunt of an Ebola outbreak that has claimed 240 lives as of the last health ministry bulletin on Monday.

The ADF started out in 1989 with the aim of overthrowing Uganda’s President Yoweri Museveni, who was seen as hostile to Muslims. But it went on to absorb other rebel factions into its ranks and started carrying out attacks in 1995.

Forced westwards by the Ugandan army, the group relocated most of its activities to the DRC, finding a lucrative niche in the vast central African country’s lawless, resource-rich east.

artiste, Alhaji Aminu Jayigbade, who was awarded Honourary doctorate in Literature.

According to Kuffor, “The democratic governance must be able to thrive on the continent, and leaders should emerge without any form of coercions.

“Leaders in Africa must ensure due process is taken into consideration on who emerges in the political parties primaries, this would help assist the voters to elect their leaders.

“Electorate remains a major factor in good governance, hence there should be no infringement on their rights in order to promote good governance and stability.”

He also said Africans must be in search of enlightened and creative leaders in all spheres of life and in respective African countries to surmount present challenges and ensure exciting

future on the continent.

The former president said the poor governance on the continent came about through poor leadership and poor allocation of resources.

Kuffor, who called for true-servant leadership among future African leaders, said such leaders must have grasp of geopolitics around them and resolve to render peaceful and prosperous services to ensure sustainable development on the continent.

“Future leaders on the continent must be made to know that true governance will be brought about with respect for country and the people; respect for individuals and general humanity, which will make it possible for sustainable development to be achieved, while keeping corruption to barest minimum. Such leaders do not happen by chance,”

he said.

On the 2019 general election in Nigeria, President Kuffor advised that people must accept that democracy has come to stay in the country, adding that government should encourage participation by majority of the people.

“Nigeria is the most populous country on the continent. Whatever you do here reflects on life and everything else on the African continent.

“So, my prayer is that the people of Nigeria will exercise their rights of choice in accordance with the federal constitution to give themselves a sort of leader they desire.

When they get such leader, they should ensure that checks and balances in the system is respected by government, and the media should be watchdog when things go awry. This

should be done according to law. Everything should be as decided or determined by the constitution,” he said.

Kuffor, who lauded the management of Kwara State University for the Honourary doctorate bestowed on him, promised to continue with his humanitarian gesture in order to develop the African people.

On his part, the Chancellor of the university and former Permanent Representative at United Nations, Professor Ibrahim Agboola Gambari, said poor governance, downright impunity, lack of transparency, inadequate accountability among others remain major challenges facing the country.

Gambari said the Honourary awards were bestowed on the two awardees in appreciation of their contributions to the social life of the common man in the society.

Tunisians protesting against the expected visit of the Saudi Crown Prince to the country, in Habib Bourguiba Avenue in the capital Tunis… yesterday AFP

Merkel, Erdogan, Others Call on Russia, Ukraine to Embrace Dialogue Chancellor Angela Merkel has called for moderation in the flare-up between Russia and Ukraine as Moscow decides whether to release more than 20 Ukrainian sailors it detained in the waters off Crimea.

Also Turkish President Tayyip Erdogan said on Tuesday in Ankara that Russia and Ukraine should solve problems between them through dialogue, saying Ankara wanted the Black Sea to be a “sea of peace”.

Moscow shot at and seized three Ukrainian naval vessels near the disputed Crimea region at the weekend.

The EU, U.S. and NATO have called for the sailors and their vessels to be released immediately.

Merkel telephoned Russian President Vladimir Putin late Monday after earlier speaking to Ukrainian President Petro Poroshenko also by telephone.

“The chancellor stressed the necessity for de-escalation and dialogue,’’ Government

spokesman, Steffen Seibert said after the call with Putin.

Ukraine’s navy said Russian border guards fired at its ships in waters separating the Black Sea and the Sea of Azov off the Crimean peninsula on Sunday.

Russia annexed Crimea, the site of a major Russian naval base, in 2014 in retaliation for Ukraine ousting its pro-Russian president, amid mass protests calling for closer ties with the West.

Ukrainian lawmakers approved a decree from Poroshenko on Wednesday that declared martial law in the area of Ukraine bordering Russia and the Black Sea coast for 30 days.

If the situation normalizes, martial law can be lifted again at any time, the head of the National Security Council Oleksandr Turchynov said.

Erdogan made the comments in a speech to his party’s lawmakers after Ukraine on Monday imposed martial

law in parts of the country in response to Russia’s seizure of three Ukrainian naval ships at the weekend.

Russia and Ukraine should de-escalate the situation in the Sea of Azov and solve the conflict without the use of force, Austrian Foreign Minister, Karin Kneissl, said on Tuesday.

“De-escalation is the commandant of the hour,” Kneissl told the Berlin Security Conference, urging dialogue through the UN or the Organisation for Security and Cooperation in Europe.

“It’s important to solve this conflict verbally and not with weapons.”

Ukraine on Monday imposed martial law for 30 days in parts of the country most vulnerable to an attack from Russia.

Poroshenko said that was necessary to bolster Ukraine’s defences after Russia seized three Ukrainian naval ships and took their crew prisoner at the weekend.

However, Europe may need to impose tougher sanctions against Moscow, following Russia’s seizure of Ukrainian vessels, an ally of German Chancellor Angela Merkel said on Tuesday.

Poroshenko has warned of the “extremely serious” threat of a land invasion after Russia seized three Ukrainian naval ships and took their crew prisoner at the weekend.

Norbert Roettgen, a member of Chancellor Angela Merkel’s Christian Democratic Union, who chairs the German parliamentary foreign affairs committee, said Russia’s behaviour was deeply worrying and that tougher sanctions were an option.

“So far there are no talks about tougher sanctions but I generally would not rule this out,” Roettgen told Deutschlandfunk radio.

“In my view, such behaviour cannot remain without consequences and I don’t think one should say that there won’t be any further sanctions.”

47

WEDNESDAY NOVEMBER 28, 2018 ˾ T H I S D AY

NEWSEXTRA

PDP, APC Tango over Borno Killings Onyebuchi Ezigbo and Adedayo Akinwale in Abuja The Peoples Democratic Party (PDP) and All Progressives Congress (APC) yesterday continued their exchange of words over killing of over 100 soldiers in Metele, Bornor State

by Boko Haram terrorists.

While the PDP described the effort by the APC to justify President Muhammadu Buhari’s neglect of the troops fighting Boko Haram insurgents in the North-east as reprehensible and a slap on the sensibility of Nigerians, the ruling party

accused the opposition party of politicising the death of the soldiers.

PDP wondered why the APC attempted to wave off the revelations, which it said are already in the public domain, that officials of the Buhari presidency are allegedly diverting funds meant for military equipment and welfare of our soldiers to finance Mr. President’s re-election campaign.

In a statement y by its National Publicity Secretary, Mr. Kola Ologbomdiyan, the main opposition party said by this, the APC has fully demonstrated

Court Declines OAU Sex-for-Mark Lecturer Bail The Federal High Court in Osogbo yesterday declined the bail application of ex-lecturer with Obafemi Awolowo University, Professor Richard Iyiola Akindele, dragged before the court for demanding sex in order to awards marks to one of his students, Monica Osagie.

Though counsel to the defendant, Francis Omotoso, filed an application for his bail, the application was opposed

by Kehinde Ayantoye, a senior legal officer with the Independent

Corrupt Practices And Other Related Offences Commission (ICPC), who filed a counter affidavit deposed to by a detective, Afolabi Oluwatoyin.

Justice Maureen Onyetenu said allegations contained in the counter affidavit were weighty and directed the prosecution to produce evidence to back his claim.

She ordered that the defendant be remanded in prison custody till December 17, 2018.

that it attaches no value to the lives of the soldiers or other Nigerians.

He said, “If the APC were not jittery over revelations that it is a core beneficiary of this evil racket, why is it rushing to defend the Minister of Defence on findings that he diverted military funds to produce campaign materials for the APC including an electronic momento, with APC logo boldly inscribed on them?

“The APC, in its hallucination, forgot that Nigerians already know that the neglect of the Buhari presidency led to the killing of our soldiers and that the president and the APC had remained unconcerned and only started shedding crocodile tears after a public outcry on the killing and their ominous silence.”

“It is therefore an unpardonable assault on the sensibility of Nigerians for the APC to, in anyway, attempt to justify President Buhari’s negligence and inaction toward the welfare of our soldiers as well as the diversion of military fund for Mr. President re-election campaign at the expense of the lives of Nigerians.

“If the APC is not complicit in this heinous crime against our nation, we challenge it to join the PDP in demanding for a National Assembly inquest into the killing and the handling of anti-insurgency funds under President Buhari, instead of this resort to wicked hypocritical posturing.”

The PDP therefore challenged the APC to explain to Nigerians why it took President Buhari, as Commander-in-Chief, a whole week to express ‘shock’ over the killing of over 100 of our soldiers?

“Does that not portray our president as a commander who has abandoned his troops and cares less of happenings in the front?

“What has the APC to say to the fact that the Buhari presidency failed to act on the threats by insurgents to attack the military base days before the deadly invasion and killing of our soldiers?

The PDP noted that what has APC to say to the fact that at the time the soldiers were being attacked by insurgents, the Service Chiefs were busy participating in President Buhari’s re-election campaign

rally and launch of ‘Next Level’ mantra, stolen from a foreign institute?

“What has the APC to say to the fact that instead of being at the forefront of investigations, our Minister of Defence was busy using military funds to produce campaign souvenirs for President Buhari and the APC? On its part, the APC dismissed the allegation levelled against it that it diverted military funds to finance the 2019 election campaigns as frivolous.

In a statement issued yesterday by its National Publicity Secretary, Mallam Lanre Isa-Onilu, the ruling party said it would not go into the retrogressive practices the PDP was notorious for during its defunct rule.

“God forbid that the APC inherits and applies such morbid practice as brazenly displayed during the immediate-past PDP administration where funds allocated to fight the Boko Haram insurgency in the Northeast were shared among PDP leaders and their cronies.

APC said it is clear that the PDP and its presidential candidate, Alhaji Atiku

Abubakar, have decided to politicise the death of the soldiers in the hands of the terrorists at the Metele base.

The party said PDP and Atiku are playing desperate politics using the blood of fallen heroes as a fair game.

“Their actions are callous and insensitive to the families and dependants of the late soldiers and indeed our military which battles daily to ensure our territorial integrity.

“Nigerians see through PDP’s ploy to score political points as elections approach, and it will surely backfire,” it said.

APC expressed its sympathy over the death of the military and other security personnel who have lost their lives in the line of duty.

It urged the armed forces to remain focused on the brave task of securing the country.

“The President Buhari-led APC administration remains solidly committed to bringing lasting peace and security to all parts of the country and ensuring that previously displaced persons are rehabilitated to resume their normal and productive lives,” it said.

LPDC Disbars Seven Lawyers, Suspends 12 Admonishes newly call to bar to uphold ethics of profession Alex Enumah in Abuja The Legal Practitioners Disciplinary Committee (LPDC) yesterday disclosed that it had between January and November this year disbarred seven legal practitioners and suspended 12 others over various acts of professional misconduct.

Life Bencher and Chairman Body of Benchers, Alhaji Bashir Dalhatu, who made the disclosure, warned that professionalism is the hallmark and life of the legal profession, hence lawyers must at all times maintain the highest level in the discharge of their duties.

Dalhatu, who was speaking at the call to Bar ceremony of the August/September graduands of the Nigerian Law School, warned the new lawyers to always be guided by professionalism and ethics of the profession so as not to suffer similar fate.

“The LPDC is a committee of the Body of Benchers which is responsible for considering and determining allegations of misconduct against any person whose name is on the toll in his capacity as a legal practitioner and is capable of bringing our noble profession into disrepute.

“Therefore, the committee will discipline erring lawyers whose conduct negate the sacrosanct standards of the profession or amount to infamous conduct in a professional respect,” he said.

“From January to November, 2018, seven lawyers were disbarred, 12 were suspended (ranging from one year to three years) and one lawyer was admonished.

“You are therefore advised to be of good behaviour and abide

by the ethics and traditions of the profession to avoid being brought before the committee,” he added.

Dalhatu advised the new lawyers to apply wisdom and have the courage to refuse to act for a client when the client’s instructions would cause them to violate the rules of professional conduct.

He said as young lawyers, they must imbibe discipline and shun the get-rich-quick syndrome, adding that they should not be in a hurry to venture out on their own until they have garnered relevant experiences from senior lawyers.

Director-General of the Nigerian Law School, Prof.

Isa Chiroma (SAN), enjoined the young lawyers to make the best of the legal profession and adhere strictly to its norms and ethics if they must excel in the profession.

The new 4,779 lawyers were among the 5,846 candidates who emerged successful in the August/September 2018 Bar final examinations.

Giving a breakdown of the general performance at the exams, Chiroma noted that 161 (2.75 per cent) candidates came out with first class; 694 (11.87 per cent) second Class Upper; 1,275(21.27 per cent) second class lower and 2,649 (45.3 per cent).

Chiroma noted that out of the 161 first class graduands, 113 were females while the remaining 48 were males.

“The general performance, which is unprecedented, justifies the huge investment and sacrifice made by all concerned,” Chiroma said, promising to sustain and surpass the attained record.

DESERVING HONOUR

Deputy Chancellor, Igbinedion University, Lucky Igbinedion, presenting a plaque to the Chairman, Editorial Board, The Nation Newspapers, Mr. Sam Omatseye, after delivering the 17th convocation lecture at the university at Okada...Friday

Metuh Accuses EFCC of Freezing His Accounts Alex Enumah in Abuja Former spokesman of the Peoples Democratic Party (PDP), Chief Olisa Metuh, has accused the Economic and Financial Crimes Commission (EFCC) of freezing all his bank accounts thereby making it impossible for him to meet his financial obligations particularly to his family.

Metuh made the allegations yesterday at the resumption of his corruption and money laundering trial before Justice Okon Abang of the Abuja division of the Federal High Court.

The EFCC is prosecuting Metuh and his Destra Investments Limited, on seven counts of money laundering and fraudulent receipt of N400m from the Office of the NSA on November 22, 2014, for

the PDP’s campaign activities.

Metuh, while given evidence in his own trial specifically told the court that due to the action of the anti graft agency, he could no longer feed his family or buy things as common as water and pain-relieving medicine like Panadol.

According to him, he discovered the no-debit order placed on his account after his failed transaction on one of the accounts yesterday.

“The EFCC seized my accounts yesterday night and I can’t get money to feed my family.

“I am in total shock as I am here talking to you. I don’t even know what to say.

“They seized all my accounts in every bank in this country. As I am, I don’t have money to buy Panadol or water to drink”, he

said.

While he claimed that the action of the EFCC was not unconnected with his ongoing trial of N400m he allegedly received fraudulently from the Office of the National Security Adviser in 2014, Metuh wondered why the EFCC having earlier seized his assets with the Asset and Resource Management Company Limited and his funds in other banks move to freeze his remaining accounts.

Metuh told the judge that following the development he was ready to end the case and submit himself to the judgment of the court.

His lawyer, Dr. Onyechi Ikpeazu (SAN), said he had no objection to what his client was saying except the part where he

spoke about ending the case.

Responding, Justice Abang however told the defendant that the issue he complained about was not part of the case before him.

He advised the defendant to ask his lawyer to discuss the issue with the prosecuting counsel, Mr. Sylvanus Tahir, who was present in court.

Metuh had earlier tendered the print-outs of some news reports of news conferences he organised as the spokesperson of the PDP in July 2015.

He had said the news conferences which were critical of the All Progressives Congress and the President Muhammadu Buhari administration earned him threats and eventually his arrest and subsequent prosecution.

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A’Ibom, Delta Get Lion Share as States Received N1.23tn FAAC Allocation in Six Months Generated N579.49bn IGR

James Emejo in Abuja The 36 states of the federation received a total sum of N1.23 trillion as net allocation from the monthly Federation Account Allocation Committee (FAAC) in the first half of the year, the National Bureau of Statistics (NBS) has said.

It added that a total revenue of N1.74 trillion was available to the states within the review period.

Also, the statistical agency said the states, including the Federal Capital Territory (FCT) generated a total sum of N579.49 billion as Internally Generated Revenue (IGR) within the first half of the year.

This, indicated a growth of 27.7 per cent year on year when compared to the sum of

N453.83 billion recorded within the first six months of 2017.

Records showed that Delta and Akwa Ibom States received the largest share of FAAC allocations of N101.18 billion and N100.20 billion respectively within the review period.

While Bayelsa received N77.13 billion, Rivers got N85 billion.

Osun is the least beneficiary of net FAAC receipts in six months with only about N10.24 billion.

Meanwhile, the NBS, in its State Level IGR report for the second quarter (Q2, 2018) released yesterday, further explained that 28 States posted growth in IGR while eight states including Abia, Anambra, Benue, Taraba, Kebbi, Kwara, Ebonyi and Enugu recorded a

decline at the end of the half year estimate.

It however, pointed out that the value of states foreign debt profile stood at $4.22 billion while domestic debt had reached N3.38 trillion as at the end of June 2018.

However, Lagos State IGR stood at N196.39 billion representing 16.88 per cent half year growth when compared

to N168.02 billion in half year 2017 record.

This was followed by Rivers which generated N60.90 billion as well as Ogun (N42.51 billion).

Nasarawa’s IGR was N3.80 billion; Niger (N4.86 billion); Ondo, (N9.41 billion); Osun (N4.77 billion); Oyo (N12.37 billion); Plateau (N6.26billion); Sokoto (N5.65 billion).

Others are Taraba (N2.61 billion); Yobe (N1.62 billion); and Zamfara (N2.65 billion); Gombe (N2.39 billion); Kebbi (N2.03 billion); Ekiti (N2.74 billion); Borno (N3.06 billion ); Adamawa (N3.17 billion); Katsina (N3.48 billion); Jigawa (N4.80 billion).

Others include, Benue which

generated N6.06 billion; Kogi (N5.44 billion); FCT (N35.31 billion); Kano (N18.55 billion); Akwa Ibom (N11.83 billion); Cross River (N9.75 billion); Imo (N7.01 billion); Delta (N29.79 billion); Enugu (N12.29 billion); Anambra (N7.06 billion); Kwara (N10.04 billion); Bayelsa (N6.87 billion); Kaduna (N16 billion) and Edo (N13.80 billion).

Melete Killings: Afenifere Demands Sack of Service Chiefs James Sowole in Akure Disturbed by the killing of more than 100 soldiers by the terrorists group, Boko Haram in Melete, Borno State, the Pan-Yoruba socio-political group, Afenifere, yesterday called for the immediate sack of the service chiefs as a first step of addressing the level of insecurity in the country.

Afenifere made the call in a communique issued at the end of its general assembly, held at Ijapo.

Akure, Ondo State residence of its leader, Chief Reuben Fasoranti.

In the communique read by its Publicity Secretary. Mr. Yinka Odumakin, the group said it was devastated by the killings, saying the massacre raised serious concerns about the state of Nigeria’s armed forces combat readiness.

Afenifere said the incident became worrisome because it came in spite of the $1billion the government claimed it disbursed months back to equip the nation’s military against insurgency.

“We were more pained at this tragic and monumental loss by the high insensitivity the federal government displayed on this matter.

“The government first kept quiet for six days after the incident and when it found its voice there were no soothing words for the bereaved families.

“It had hardly made the bland statements before descending into the gutter of political quarreling over the killings at a time a more sensitive leadership should have declared national mourning for the high casualties recorded which many countries never matched in wars that lasted for several years.

“Afenifere demands as a first step the immediate removal of the Service Chiefs who are already in their retirement years but are still kept in service by the President in what many have interpreted as partisan needs as we move towards the next elections “Their illegal stay in spite of

not being effective, has equally killed morale in the armed forces as three sets of officers have now had their careers stagnated,” Afenifere stated.

The group said the sack of the service chiefs should be followed with a probe of what has happened to defence allocations as the country cannot reconcile its extremely vulnerable troops and wailing soldiers in the forest with the heavy spendings the government claimed it has committed to security.

While commiserating with all the bereaved families and officers and men of the armed forces at this grievous moment, Afenifere prayed that God will comfort them and intervene in the affairs of Nigeria.

It also condemned the continuous insecurity, particularly kidnapping of innocent citizens in Nigeria and especially in the South-west by herdsmen.

The group specifically mentioned the kidnapping of six Ondo indigenes on November 14 as they were returning from Akure to Ikare Akoko.

“The people who were kidnapped at Ago Ajayi, a farm settlement between Ose and Ikare in Akokoland, included five men and woman snatched in two cars.

“They were released after three days in captivity after being subjected to life threatening experiences and ransom paid.

Their abductors made them to view the horror of decapitated bodies of their previously killed victims as they wielded AK 47 rifles.

“These unhinged security challenges continue to daily show that the country’s security architecture has collapsed under the crushing weight of unitary arrangement that concentrate the country’s security apparatus only in the hands of the federal government.

Afenifere, therefore said Nigeria cannot continue without decentralising the police for proper security at state levels.

CORPORATE EXECUTIVES

L-R: Vice Chairman, Association of Licensed Mobile Payment Operators, (ALMPO), Kelechi Uloh; Chairman, Chinedu Onuoha; and Managing Partner, Rham Durham, Consulting Limited, Tony Monye, at the just concluded ALMPO Conference in Lagos...recently

Amaechi: N’Assembly’s Refusal to Approve $30bn Loan Stalling Overhaul of Rail System Deji Elumoye in Abuja The federal government yesterday accused the National Assembly of stalling the complete overhaul of the country’s railway network due to its refusal to allow government access to foreign loan facility.

Minister of Transportation, Mr Rotimi Amaechi, who made the allegation while appearing before the Senate Joint Committees on Land Transport and Foreign and Local Debts, emphasised that the refusal of the Senate and by extension, the National Assembly to approve the $30bn foreign loan requested for the complete overhaul of Nigeria’s rail system by the federal government is stalling the project .

He specifically said that for the federal government to construct standard gauge of rail lines from Port Harcourt to Maiduguri, a whopping sum of $12.8bn will be required, which is equivalent to about N9trillion, the entire size of a whole year budget for the country.

Amaechi made this disclosure while appearing before the Senate Joint committees investigating the alleged abandonment of the Eastern rail lines in the rail revitalisation projects across the country.

He told the lawmakers that there was no plan to exclude the region from the rail project and assured the committee that the area is already captured in the 2018 borrowing plans of the federal government, part of which was the $30bn foreign

loan from China Exim Bank.

According to him, although as Executive , the required design for the project has been done but approval for both the design and costing are being delayed by bureaucratic bottleneck caused by the Public Procurement Act ( PPA).” The Public Procurement Act is very tedious and take a long time to conclude the process which must be followed because President Muhammadu Buhari had always insisted that the rule of law be followed to the letter.

“The president insists on rule of law and the law passed by the National Assembly in terms of public procurement is very tedious and not easy to conclude; it takes a very long

time. Similarly the law passed by the National Assembly on the Bureau for Public Procurement is very tedious” , he said.

Amaechi also pointed out that railway project was very capital intensive, and that the Federal Government did not have sufficient fund to implement the railway projects across the country at the same time.

He explained that following the paucity of funds confronting the government, the All Progressives Congress (APC)-led administration had decided to adopt a systematic approach in the project execution, saying that it was as the loan was approved, then government would apply the fund and do what it could afford.

UCTH Denies Report on Stolen Babies Bassey Inyang in Calabar The management of the University of Calabar Teaching Hospital (UCTH) has described as false reports making the rounds that three new born babies and valuables were stolen by armed robbers in the hospital last Sunday.

Addressing a press conference at the hospital yesterday, the management of the hospital said such report which alleged that robbers invaded the Paediatric unit of the hospital and stole babies never happened, saying the report is false and a figment of the imagination of

the writers.

Chief Medical Director of UCTH, Professor Thomas Agan, while addressing journalists stated that the news is a blatant lie and such information is inimical not just to the hospital but to the entire country.

“I want to tell the world, and indeed everyone who is watching that indeed it is a blatant lie aimed at disparaging the hospital and the management of the hospital. Truth is that it has never happened and it will not happen.

“It is true that there are some security challenges nationwide, there

is no where that we do not have security challenges in this country.

When I was called, I put a call to the head of Pediatric Department to tell me whether this thing happened and they said it never happened and I said its better we tell the world because this type of journalism is not only inimical to the hospital but to the entire country. I do not know the source from which this person got the information.

“That report is totally false because in terms of security, the Department of State Services patrol here on regular basis, Operation

Skolombo is mandated to work here. It is true that because of the non-release of funds for outsourced services, the out-sourced services have not been functioning properly, but that does not mean that security is zero. As far as this story is concerned it is a lie and very disheartening”, Agan said.

Also speaking, the President of the Association of Resident Doctors, UCTH, Dr. Antigha Cobham said he was on call duty and no incident of such happened throughout his duty tour at the hospital.

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FG Monetises Minimum Wage to Permanent Secretaries Olawale Ajimotokan in Abuja Although the federal government is hedging on paying N30,000 as the new minimum wage for public workers, THISDAY checks have revealed that in view of the extant monetisation policy, it is the permanent secretaries that stand to reap the benefits when it is passed into law by the National Assembly.

The Nigeria Labour Congress (NLC) and state governors are still haggling over N30,000 as the minimum wage for workers, several days after the Tripartite Committee on National Minimum Wage submitted its report to President Muhammadu Buhari.

Buhari set up the committee headed by Amal Pepple to fashion out a new minimum wage acceptable

to workers and stave off industrial strike by workers under the aegis of the NLC and Trade Union Congress (TUC).

However, some public workers have disclosed the term ‘minimum wage’ can no longer be applied since the federal government has stopped the mass employment of workers at the baseline Level 01 Step 01 in line with the monetisation policy initiated by the Olusegun Obasanjo Administration in 2003 to reduce the cost of governance.

Rather, THISDAY checks revealed, the permanent secretaries are entitled to four domestic workers, whose cumulative salaries are monetised and paid in bulk to the permanent secretaries as part of their fringe benefits.

In addition to a driver, it

is gathered that a permanent secretary is entitled to a cook and two house cleaners, who, before the policy would have been employed and posted as level 01 step 01 baseline workers.

The least paid workers who fall within that category are those currently graded on the minimum wage of N18,900 per month, with total annual salary amounting to N226,800.

The argument in the civil service is that since the baseline workers are no longer directly employed by government, the proposed

new minimum wage of N30,000 will end up as freebies padded into the permanent secretaries’ emolument.

The allegation against majority of the permanent secretaries is that some of them are short circuiting the monetisation policy by not complying with the quota of four domestic workers for which they are remunerated under the policy.

“While the permanent secretaries have their own drivers, some neither employ cooks nor house cleaners. We have instances where their

relations live with them and they hide under the guise of monitisation policy to claim they are paying those workers,” sources that confided in THISDAY said last night.

Under the new minimum wage proposal before government, the annual cumulative sum of N360,000, or the package due for each of the four domestic workers a permanent secretary is entitled to under the monetization policy, will be added to his package.

Since government has ceased to employ at the base

level, those employed at the Grade level 04 Step 01 for school leavers will officially step as the least paid in the federal civil service.

Those in this cadre, who can only be employed by Level 17 Directors, Permanent Secretaries and Head of Service via special memos, will earn a little more than N34,000 per month.

The Federal Civil Service Commission is the supervising authority of employment of workers in officer cadre of Grade Level 06 Step 01 into the service.

Otedola Donates Engineering Faculty Complex to Augustine University Billionaire businessman and Chairman of Forte Oil, Femi Otedola, has donated a multimillion-naira complex to the Augustine University’s engineering faculty.

This was made known yesterday at a sod-turning ceremony to mark the first day of construction for the university’s faculty of engineering’s complex in Epe, Lagos State.

On hand for the occasion were the Proprietor of the institution and the Catholic Archbishop of Lagos, Dr. Alfred Adewale Martins; Otedola’s octogenarian mother, Lady Doja Otedola; the Chairman of the Board of Trustees of the university, Sir Steve Omojafor; the Vice-Chancellor of Augustine University, Prof. Steve Afolami; a member of the fundraising committee, Chief Sena Anthony, among other dignitaries.

They all commended Otedola and his family for the financial assistance and otherwise they had rendered to the university from its conception to date.

Speaking during the event, Otedola said, like his father, he was passionate about education and development of the country.

“My father was very passionate about a university being built in Epe because he was very passionate about education.

Rather than spend my money on building more houses or buying a jet for myself, I decided to spend the money to support this laudable cause by the Lagos Catholic archdiocese through the Augustine University,” the oil magnate told journalists.

Speaking about the importance of the building, Martins noted: “With this engineering faculty, we’re delighted that it’s taking off because it is one area that we think with the kind of technological development that Nigeria needs we can begin to find the realisation within that faculty – that’s not to say that the arts and the social sciences are not making contributions.

We have had those contributions for many years. We are truly delighted that we have this

beginning.”

He recounted how he was encouraged by former President Olusegun Obasanjo to donate towards the completion of the Ecumenical Centre in Abuja and the former president’s rejection of his desire to make a private donation.

“I went to his office; he had arranged for a press briefing and I said, ‘Please, let’s make this a private affair.’ But he insisted that he needed to make this public so that when the Dangotes and the Adenugas saw me contribute towards the building of the church they also would be encouraged to make similar donations.

“So, it is with this project – I want all my friends to know – because the hand of God is in it.

It is a worthy cause. My mother persistently encouraged me to support the Augustine University project. Subsequently, I decided to build an engineering faculty for the university – which would be my home – for the glory of God. I can assure you that this project will be completed in good time,” Otedola explained.

The university which began operation in 2015, is already running at least eight courses subscribed to by 200 students up to 400-level.

Expressing their delight regarding the donation by Otedola, Afolami, Omojafor and Anthony stated that the business mogul had once again set a fine example for other philanthropists.

Sharing their sentiments, the billionaire’s mother, Lady Otedola, stated: “I think I’m the happiest person today and I’m sure I’ll always be happy. It is always on record that this Augustine University was meant to be built at OdoRagunsin. Sometime in 1994 my late husband, Sir Michael Otedola, was approached to make financial donation to them. He was able to help get this large parcel of land for the university through the supports of the then-Alara of blessed memory.

PDP HEAVYWEIGHTS

L-R: Senate President, Dr. Bukola Saraki; ormer Vice President and PDP’s presidential candidate, Atiku Abubakar; Deputy Senate President, Ike Ekweremadu; National Chairman, PDP, Prince Uche Secondus; and National Organising Secretary, PDP, Col. Austin Akobundu (rtd.) during a meeting at Ekweremadu’s Abuja residence.....Monday

No Court Order Shut Our Premises, Says Nigerian Breweries Jonathan Eze Nigerian Breweries Plc yesterday said that the National Lottery Regulatory Commission did not present any court order to shut down its operations in Abuja and Lagos last week.

The company, through its Head of Government’s Relations, Mr. Vivian Ikem, explained that although the issues arose from the demand for payment of certain disputed fees which the commission is claiming from the company for various consumer sales promotions, no court order was shown by the officials of the

commission with regard to the shutting down of the company premises.

According to him, prior to the clampdown, the Nigeria Employers’ Consultative Association (NECA), on behalf of its member companies, including Nigerian Breweries Plc, had instituted an action at the Federal High Court (FHC) in Suit No: FHC/ ABJ/CS/306/12 against the commission challenging its powers to regulate consumer sales promotions in the country.

Ikem maintained that the matter is also subsisting at the Court of Appeal in Suit

No: CA/A/267/2016 arising from the appeal brought at the instance of the Commission, while a cross-appeal was subsequently instituted by NECA against the decision of the FHC. “As a law abiding corporate citizen, Nigerian Breweries Plc has always ensured that all our consumer sales promotions are vetted and approved by the Advertising Practitioners Council of Nigeria (APCON) and the National Agency for Food and Drug Administration and Control (NAFDAC).

“Since being established over 70 years ago, Nigerian

Breweries Plc has remained one of the highest contributors to government revenue through taxes and levies paid to various levels of government. In 2017, we contributed by way of taxes and other levies, about N75 billion to the treasury at both the Federal and State levels,” he said.

Ikem reiterated that the company has always ensured that it complies with all legitimate demands of government agencies which are in accordance with the rule of law and has never sought to or seek to deprive government of its legitimate revenue.

Union Offers Free Medical Outreach at Urhobo Day The Urhobo Progress Union, America (UPUA) has announced that it will conduct free medical outreach programme to mark the 2018 Urhobo day celebration under the auspices of the Urhobo Progress Union, worldwide.

The body said it would conduct the exercise on December 1, 2018 at Uvwiamuge-Agbarho by 8a.m.

In a statement signed by the Secretary-General, UPUA, Dr Felix Okpe, the union said the celebration was scheduled to hold from November 29 through December 2, 2018.

“The free medical outreach program that is open to the public, will cover diabetes,

hypertension, and vision screening and counseling. In recent times, these medical conditions have become very common in Urhoboland, leading to avoidable fatalities in many cases, and other serious medical conditions in other instances,” the union said.

It said the programme was designed as an intervention and proactive exercise to tackle these medical challenges in Urhoboland.

“UPUA is also using the opportunity of the Urhobo day celebration to bring awareness to the dangers of these medical conditions. UPUA is therefore, calling on all adult Urhobo

sons and daughters to take advantage of this opportunity to get screened, and counseled on these medical issues, where necessary.

“UPUA, an affiliate of UPU, is a North America based nonprofit umbrella organization of Urhobo organisations whose membership comprises of Urhobo sons and daughters, and others who identify with the Urhobo culture and traditions by marriage and association. UPUA membership is spread across the United States and Canada. Part of UPUA’s objective and mission premised on unity, strength, and progress, include pursuing charitable causes in health care,

education, and human capital development in Urhoboland.

Through its charitable causes and intervention, UPUA has contributed to the unity and progressive development in Urhoboland over the years,” the body also said.

The union said UPUA’s representatives at the Urhobo day celebrations would be joined by volunteers during the scheduled medical outreach programme, noting that the programme is a demonstration of body’s commitment to qualitative and extensive access to healthcare in Urhoboland.

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Osinbajo: We Have Spent over N600bn on Education in 2018

Shell commits N1.3bn to 2018 secondary school, undergraduate scholarships

Iyobosa Uwugiaren in Abuja and Ernest Chinwo in Port Harcourt The federal government said yesterday that it had so far spent over N600 billion on education sector in 2018, saying that in spite of the difficult economic situation, President Muhammadu Buhari made sure that education was not neglected.

Vice-President Yemi Osinbajo stated this at the opening ceremony of a two-day ‘Stakeholders’ Workshop on Sustainable Funding for Education in Nigeria’, which took place at the Presidential Villa Banquet Hall, Abuja.

The workshop was organised by the Federal Ministry of Education in collaboration with Federal Ministry of Finance.

According to the vice-president, “We were able to increase capital allocation to education; for instance, in the federal budget, capital allocation was increased from N23.53 billion in 2015 when we came–that was the allocation.

In the budget that we did, we took up the capital allocation to N35.99 billion in 2016.

“Then in 2017, we took it to up to N56. 81bn and this year, the current capital budget on education is N102.9 billion. So, this shows substantial increase in education budget; in addition, there is the UBEC funding which in 2018 amounted to N109.86 billion.

“In fact, if you include the recurrent budget, the amount allocated to education by the Federal Government this year is more than N600 billion.’’

The vice-president who was represented by the Minister of Budget and National Planning, Senator Udo Udoma, stated that additional funds were also made available through the Tertiary Education Trust Fund (TETFUND),

adding however, that the amounts were still insufficient to provide the high quality education which the administration was determined to give to all Nigerians; hence the importance of the stakeholders workshop.

Osinbajo urged stakeholders to seek ways of increasing funding to education from all the tiers of government–the federal government, state and local governments.

He added, “While government funding is important and critical, it is not the only source of funding for education. There are two broad sources of funding for educationthe most important are the grants from governments at all levels; that is the Federal and state and local governments in the form of capital budgets, recurrent budget and special allocation.

“The second source of funding are from non-governmental sources—these include contributions from sources such as school charges, private donations, corporate sponsors, alumni associations, charitable and faith-based associations and among others.’’

Osinbajo explained that the workshop was expected to come with innovative ways by which increased funding of education could be achieved from all possible sources including any additional sources they could identify outside the aforementioned.

Also speaking at the event, the Minister of Education, Malam Adamu Adamu, said that funding education was a very crucial issue; informing the importance attached to the workshop.

He said that funding is key to the delivery of qualitative education which is the foundation for national growth and sustainable development, adding that upon his appointment, he met a lot of challenges in the basic, secondary

Yoruba Leaders Hold Colloquium on 2019 The Yoruba leaders across party lines will hold a colloquium in Lagos on December 3.

In a statement by the Political Adviser to former Deputy National Chairman of Peoples Democratic Party (PDP), Chief Olabode George, Prince Uthman Shodipe-Dosumu, the event is meant to look at issues that are germane to the 2019 election.

According to him the colloquium with the title: ‘Yoruba nation yesterday, today, and the challenges of 2019,’ will hold at the Recital Hall, Muson Centre, Onikan Lagos by 12 p.m.

The colloquium which will have George as the Keynote Speaker will also have in attendance the Pan –Yoruba Group, Afenifere leaders, Chief Ayo Adebanjo, Senator Femi Okurounmu and all elected candidates and leaders of all political parties in Yoruba land.

He said the occasion will be chaired by Chief Bode Olajumoke, noting that former Transport Minister, Chief Ebenezer Babatope will be one of the discussants.

Babatope will look at the Yoruba nation before and after

the 1914 amalgamation of the Southern Protectorate and the Northern Protectorate.

He will examine the key role played by the Yoruba leaders in the mould of late Herbert Macaulay, Chief Obafemi Awolowo, among others in the political development of the country.

He said: “It will also feature the need to foster unity and prepare the Yoruba race for the expected leadership role in the current and future political dispensation and our relevance in the growth of Nigeria.

“It is sad that the Yoruba nation that produced eminent Nigerians in all fields of endeavours, such as Professor Wole Soyinka, late Chief Rotimi Williams, late Professor Ayodele Awojobi and Chief Akintola has declined to a state of rudderless indifference without any rallying leadership.

“The colloquium will define a way forward for the race and the discussion will include the demands and the expectations of our people in the coming dispensation as 2019 beckons.”

and tertiary education as well as teachers’ professional development, technical education, access and quality of education.

The Minister added that against the foregoing, the ministry proposed the Ministerial Strategic Plan for Education hinged on 10 pillars, listing the pillars as -Out of School Children, Youth and Adult Literacy, Teacher Education, Basic Education, Curriculum Matters, Tertiary Education, Education Data and planning.

He said that increased funding of education had facilitated access to tertiary education in Nigeria but posed a huge financial burden on the funding of public institutions,

while urging Nigerians to disabuse their minds of the belief that funding education was the sole responsibility of the government.

Meanwhile, Shell Petroleum Development Company (SPDC) has said it has committed N1,334,050,000 in scholarships to secondary and undergraduate beneficiaries for 2018 on behalf of the Shell Joint Venture, JV. It said the amount does not include the JV’s financial commitment to the annual SPDC JV Niger Delta Post Graduate Scholarship which has provided overseas studies assistance of $700,000 to each of 79 beneficiaries till date.

General Manager, External Relations, SPDC, Igo Weli, said yesterday in Port Harcourt at the presentation of cheques yesterday to the 2018 awardees at the Shell JV Education Day that “Shell is committed because we believe education is the number one investment”.

Weli said Shell is further committed to enhancing sound education through investment in professorial chairs endowment, sabbatical attachment for varsity scholars, research development supports as well as its digital learning programme, among others.

The Minister of Education,

Mallam Adamu Adamu, represented by Olagunju Lateef of the ministry, commended Shell for its interest at, “Reducing, among parents and guardians, the burden of tuition and other sacrifices to train children in realising their dreams” The spread of the N1.3 billion 2018 Shell JV secondary school and undergraduate scholarships include N159,600,000 for 532 regular secondary school beneficiaries, N814.450,000 for 60 Cradle to Career (full secondary school scholarship) and N360,000,000 for 430 university undergraduates.

INTERACTIVE SESSION

L-R: Minister of Transport, Hon. Rotimi Ameachi; Director, Rail Transport Service, Mr. M. T. Babakobi; and Mr. Galalachi Okobiro, during an interactive session with the Senate Joint Committee on Land Transport and Local and Foreign Debt on the exclusion of the Eastern axis of Railway Line to be constructed in Abuja... yesterday JULIUS ATOI

Hold FG to Account on Credible Elections, Wike Tasks BON Sacks GMs of state-owned broadcast stations Ernest Chinwo in Port Harcourt Rivers State Governor, Nyesom Wike, has called on the Broadcasting Organisation of Nigeria (BON) to strive to hold the federal government to account on issues of credible elections.

This is as the governor also announced the sack of the general managers of three state-owned broadcast stations for failing to identify with BON. He also called on broadcasters to work to ensure that the votes of Nigerians count in 2019.

He spoke yesterday at the Government House Port Harcourt during a courtesy visit by the BON. “You have a responsibility. You have a role to play. If you don’t

play that role, history will not forgive you. You owe this country truthful reportage of the emerging political events”, he said.

The governor also announced the immediate sack of the General Managers of Rivers State Television, Garden City FM and Radio Rivers for failing to participate in the activities of the BON. “I hereby sack the General Managers of the three state-owned Radio Stations. BON will be here in Rivers State for their AGM and the General Managers of the three state-owned are not here, when those from other states are here.

People must learn to take their jobs seriously “, he said.

He also said, “BON must work towards telling the world that things are not working in the

country. This federal government has failed.”

He said that BON must strive to hold the federal government to account on issues of credible elections.

The governor said: “Why are you not broadcasting on key issues that negatively affect the people?

Why are you not telling the people the truth? BON should play their critical role as we head into 2019”.

The governor declared that President Muhammadu Buhari has refused to sign the fifth amended Electoral Act because they want to rig the 2019 general election.

“You must work to ensure that the votes of the people count in 2019. For us in Rivers State, nobody can rig us out. We are prepared to ensure that the votes of our people count. There

is only one party in this state and that is the PDP,” he said.

He noted that INEC as an institution has become irresponsible, working against the processes for credible polls.

Governor Wike said that the build up towards 2019 does not indicate that there will be credible elections.

Earlier, the Chairman of Broadcasting Organisation of Nigeria, Mr John Momoh, thanked the Rivers State Government for hosting the organisation.

He commended the Rivers State Governor for his outstanding projects delivery, urging him to continue to work on the path of development.

He said that BON are in Rivers State for their Annual General Meeting which will focus on broadcasting in a challenging media environment.

House Summons Fashola over Poor State of Roads, Bridges Shola Oyeyipo in Abuja The Minister of Power, Works and Housing, Mr. Babatunde Fashola, has been invited to appear before the House of Representatives over failure of a contractor to reconstruct the Mararaba-

Mubi-Michika-MadagaliGwoza road and three bridges at Kudzum, Delchimi and Wurogyande broken by Boko Haram.

A member representing Michika/Madagali federal constituency of Borno State, Hon. Adamu Kamale yesterday

moved a motion which was adopted, telling the House about the plights of the people of the areas due to the bad state of the road.

Kamale informed the House that a wooden makeshift bridge at Kudzum had broken down, consequently cutting Michika/

Madagali constituency from the rest of the country.

He noted that road users from Yola are now compelled to go through Mubi town and the bypass to access Michika/ Madagali federal constituency, making journey along the route inconvenient.

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Witness Tells Court How Two Died after Giving Statements against Nyako Alex Enumah in Abuja A detective with the Economic and Financial Crimes Commission (EFCC), Adekunle Odofin, yesterday told Justice Okon Abang of the Federal High Court sitting in Abuja that two persons who made “crucial statements” during the investigation into a N29bn fraud case involving a former Governor of Adamawa State, Murtala Nyako, died mysteriously.

The EFCC is prosecuting

Nyako alongside his son, Senator Abdul-Aziz Nyako, Abubakar Aliyu and Zulkifikk Abba on a 37-count charge of criminal conspiracy, stealing, abuse of office and money laundering to the tune of N29billion.

Five companies that allegedly served as conduit pipes for the illegal diversion of the funds Blue Opal Limited, Sebore Farms & Extension Limited, Pagoda Fortunes Limited, Tower Assets Management Limited and Crust Energy Limited, were equally charged before the court as the

Lawmakers Charge Buhari to Order Release of Judiciary Funds Shola Oyeyipo in Abuja President Muhammadu Buhari has been called upon to give a directive to the Minister of Finance, Zainab Ahmed, to release funds appropriated for the judiciary.

House of Representatives members, Hon. Aminu Shehu Shagari (Sokoto, PDP), in a motion titled: ‘Refusal of the Minister of Finance to Release Funds Outstanding to the Credit of the Judiciary,” had urged members to do the needful so that the money can be released.

The sum of N11 billion was approved for the judiciary in the 2018 Appropriation Act as against the sum of N100 billion which was proposed by the executive.

But according to Shagari, during an oversight visit of the House Committee on Federal Judiciary to the courts, it was discovered that the Minister of Finance has been withholding funds standing to the credit of

5th to 9th defendants.

According to a statement by the EFCC, Odofin, who is the 20th prosecution witness, told the court that the two persons who died, were very vital to the prosecution of the case.

Continuing in his evidence which began on June 23, 2018, the witness told the court that one Mohammad Maj Iro, who was the General Manager, Zenith Bank Plc, the Regional Manager in charge of North-east, and the Account Officer of Adamawa State 200 accounts, domiciled in Zenith Bank, died after making “crucial statements”, at the time of filing the case in the court.

While being led in evidence by

the prosecution counsel, Rotimi Jacobs (SAN), the detective told the court that the commission also extended invitations to one Dalhatu Abdulmalik, who was the cousin to Nyako and the Director of Ameak Investment Limited, Kirkelly Investment Limited and Pilkola Engineering Limited, and that after giving his own statement, during the point of filing the case in court, he also died.

Referring to Maj Iro, Odofin said he pulled out over N800million from the Adamawa State account, and credited same to Crust Energy Limited, the 9th defendant in the case, taking orders from the then governor

of the state, Nyako.

He explained that the behaviour of two accounts belonging to the state (Special Service Department, SSD, and Secretary to the State Government, SSG) drew the attention of the EFCC. According to him, “the behaviour of these accounts, showed how money was being withdrawn in multiple of N10million on different dates, running into billions of naira, by late Mohammad Maj Iro”.

He said: “The question is, why did Maj Iro withdraw money from Adamawa State account, without being a staff of the state government?

Investigations revealed that memos were originated from permanent secretaries of the SSD, Mohammed Ibrahim Jidado and that of the SSG, Emmanuel Ibrahim.

“Having generated these memos, same were forwarded to SSG for transmission to the number one citizen of the State, the governor. Upon the approval of these memos, same came back to the SSG”.

He explained that vouchers were raised after the approval of the memos, in the name of the Permanent Secretary, the Accountant and cashier as the same and now taken to Maj Iro.

the judiciary as at when due.

In his motion, Shagari, who emphasised that funding of judiciary, is on a first line charge as provided in Section 81 (3) of the 1999 Constitution, said: “Any amount standing to the credit of the judiciary in the Consolidated Revenue Fund of the federation shall be paid and disbursed directly to the’ National Judiciary Council for disbursement to the heads of courts established for the federation and the states under section 6 of this constitution.”

The lawmaker added “that intendment of the Drafter of our Constitution is also to promote and protect the doctrine of separation of powers.

He was particularly worried that by withholding funds appropriated to the judiciary, the efficiency of the judiciary L-R: Analysis and Advocacy Manager, PIND Foundation, Chime Asonye; Team Leader for Market Development in Niger Delta, Tunde could be disrupted.

Oderinde; Founder of Rise Networks, Toyosi Akerele-Ogunsiji; Deputy Executive Director, PIND Foundation, Tunji Idowu; and Nigeria There was no dissenting Country Director, DAI, Joe Abah, at the seventh Niger Delta Development Forum in Benin.yesterday. voice when the motion was put to vote by the Speaker, Hon. Yakubu Dogara, who called for a voice vote.

AVM Osho, Pioneer Presidential Pilot, for Burial The family of Air Vice Captain Samsudeen Adekunle Marshall George Ayo Osho Lawal, who was the military (rtd) has announced the governor. funeral programme for the In 1983, he was promoted to former presidential pilot who the rank of Air Vice Marshall died on October 13, 2018 at and appointed Air Officer the age of 78.

Operations, a position he held The wake-keep will take until his retirement in 1989. place tomorrow at the Osho was on the leadership of Shepherdhill Baptist Church, many groups at Shepherdhill Obanikoro, Lagos State, while Baptist Church, including the the funeral service will be held Yoruba section, the Shut-in, at the same venue on Friday, Prison and Evangelical November 30, after which the Ministries, and Home Ministry. body will be interred at Ikoyi He is survived by his wife, Cemetery.

Olufunmilayo, children and Osho was born in Mopa, grandchildren as well as his Kogi State, on December 4, aged mother.

1939. He joined the Nigerian Air Force as officer cadet after his military and flying training in Germany in 1963. Between 1967 and 1970, he served as OPs Officer and Commander of NAF Detachments and FPBs in Makurdi, Enugu and Benin.

He was one of the two pioneering presidential pilots on the Executive Fleet and flew the Presidential HS 125 and the F28. In 1977, he deputised as military governor of Lagos State under Navy Late Osho

DEVELOPMENT AGENTS

ASUU Strike: Parents, Students Call for Quick FG Intervention Some parents and students in Abuja yesterday urged the federal government to speedily intervene and resolve the ongoing strike by the Academic Staff Union of Universities (ASUU).

The parents, who spoke with the News Agency of Nigeria (NAN) in Abuja, expressed worry over the constant strikes embarked upon by the university lecturers’ union.

The federal government and ASUU on Monday had a meeting to resolve their agreement in order to suspend the lecturers’ strike.

However, the meeting that reportedly started at about 5 p.m. at the Federal Ministry of Education ended in another

deadlock.

A parent, Mrs Eunice John, said: “It is a pity what our government and ASUU is doing to this to our children who have been forced once again out of school.

“We know that many of the leaders have their children either studying in private universities or in other schools overseas, that is why they can always keep our children out of school.

“Many parents are struggling to pay school fees of their wards to keep them in school and out of the streets, yet these children are forced to come home and some now engage in various vices.

“That is not the only problem,

when their studies are disrupted, it affects them; imagine those who were in the middle of writing examinations having that flow disrupted.’’

John pleaded with the FG and ASUU to reach an agreement that would end the strike and ultimately help improve the education sector.

Mr. David Onilede, another parent said the strike was worrisome adding that it would affect the productivity of the students.

“I am worried at the sustained strike by ASUU. As a parent, the capacity of our children for productive interaction with their

studies is being jeopardised.

“I do not trust the federal government’s negotiating team; it seems that it is fixated on commercialising education at the tertiary level; ASUU should resist this.

“ASUU too, should be more flexible in their obsession with earned allowances; it portrays their struggles as selfish,’’ he said.

Mrs Jumoke Yusuf, a Public Servant, said that the constant and protracted lecturers’ strikes had marred the country’s university system, as continuous breaks in the learning process had negatively affected the students.

Group Seeks Credible Elections Ahead 2019 Ugo Aliogo The National Coordinator, Igbokwe Association, Daniel Nwafor, has tasked Nigerians on the need to vote for credible candidates in the 2019 general election both at the national and state levels in order to move the country forward.

Nwaofor, who disclosed this yesterday at a media briefing in Lagos, noted that as an association they don’t vote for political parties, but credible

candidates with a vision of what is needed to assist the economic challenges facing the country.

He also stated that the association is a social political group that builds and supports Igbo indigenes who want to move into politics and run for public office, adding that Igbos constitutes 40-45 per cent of the population of Lagos State.

“We have come to tell Nigerians that there is need to vote credible candidate

in the forthcoming general election to rule the country at the national and state levels.

We believe that those who live in Lagos form a large majority of any group from their town and whenever Lagos branch of any community speaks, people listens. We are telling Nigerians that we are not voting for political parties, but credible candidates,” he noted.

He urged Nigerians to come out and vote en masse for candidates with values and good political records.

He added: “We want people who have credibility to be voted into public office, not people that would ruin the destiny of this country. We have our members in Lagos and outside the country.”

In her remarks, the women leader, Igbokwe Association, Lolo UgoJesuse Ibe, noted that their goal is to build an associ a t i o n for the benefit of all, stating that they are not affiliated to any p o l i t i c a l p a r t y.

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Tax Tribunal to Hear 209 Cases Worth over N205bn The newly inaugurated Tax Appeal Tribunal yesterday commenced its sitting on tax-related cases with a warning that it would not tolerate any delay tactics during adjudication of tax disputes.

The Tax Appeal Tribunal

was established pursuant to Section 59 (I) and the Fifth Schedule of the Federal Inland Revenue Service (Establishment) Act, 2007.

It was specifically set up to adjudicate on all disputes arising from operations of the Companies Income Tax

ASUU Hails Judgment Voiding Sack of UniIlorin Lecturers Kemi Olaitan in Ibadan The Academic Staff Union of Universities (ASUU) has hailed judgment of the National Industrial Court (NIC), Akure, which nullified the sacking of two executive members of the union by the University of Ilorin.

Two executive members of ASUU, Kayode Afolayan, Chairman and Solomon Oyelekan, Secretary, were sacked by the authorities at the University of Ilorin on September 19, 2017.

After a year of legal tussle, the court presided over by Justice Abiola Adewemimo, faulted the action of the University for terminating the appointment of the ASUU executives without following due process and the rules of the institution.

The Judge also chided the institution for violating the rights of the respondent to fair hearing, declaring the action of the university as oppressive, dictatorial, tyrannical and a miscarriage of justice.

The presiding judge also ordered the immediate reinstatement of the sacked lecturers and the payment of their entitlements to date and other benefits which they are entitled to.

But reacting to the judgement

yesterday, the duo of Ibadan Zonal Coordinator of ASUU, Dr. Ade Adejumo and Chairman of the University of Ibadan, Dr. Deji Omole, described the ruling as a victory against tyranny and terrorism by the University of Ilorin administration, stating that ASUU as a law abiding union opted for the law-courts instead of taking laws into their hands.

According to them, by sacking the lecturers unjustly the University has inflicted emotional and psychological trauma on their members, but lauded the court for upholding the truth and nipping the tyrannical decisions at UNILORIN in the bud.

They said, “The judge ordered that the duo of Afolayan and Solomon Oyelekan be reinstated with full benefits and they must not suffer any monetary loss/promotion and seniority as a consequence of the purported dismissal. They must be paid the balance of their half salaries during suspension and full salaries, all allowances and other benefits from the day of purported dismissal till date.

“Dr Afolayan and Oyelekan were also awarded a sum of N500,000 each by the court for aggravated damages caused by the purported dismissal by the

Egba Indigenes Pay Tribute to Iyayi Efianayi Members of Egba Development Organisation, Lagos and Benin chapters last Sunday paid condolence visit to the family of late Dr. Iyayi Efianayi in Benin City.

Late Iyayi passed-away on October 11, 2018 in France while in transit from the United States of America where he went for medical checkup.

He was an indigene of Egba in Uhunmwonde Local Government Area of Edo State and grand patron of the Egba Development Organisation.

During the visit, the Vice-President of the organisation Mr. Julius Onaghise, paid glowing tribute to the late Iyayi, describing him as a father to all Egbas, benefactor to many, cheerful, humble and very God fearing.

According to him, Iyayi’s good works and contributions towards the development of Egba land and Edo state in general will never be forgotten.

In his words: “The passage of Iyayi is a loss to the family, a loss to Egba community and a loss to humanity; he was a genius with positive characteristics that distinctively singled him out among his peer. He led a life of selfless service to his immediate community, Egba, Benin Kingdom, Edo State, Nigeria and the world at large.”

As a human capital builder, he brought many Egba indigenes to societal competition; as an infrastructural provider, he singlehandedly provided infrastructure

that the government could not provide for rural communities for Egba community. Infrastructures such as good roads, educational institution, health facilities, electricity, security, economic empowerment amongst others.

He was a tree of unity personified whose death will remain a monumental loss to humanity and Egba community, but we are consoled with the fact that he led a fulfilled life”, he said.

Also, presenting a condolence letter on behalf of Lagos branch of Egba Development Organisation, Mr. Charles Igbinidu prayed for the repose of the soul of the Iyayi and that God should comfort members of his immediate family.

In his response, Dr. Caesar Osaheni-Iyayi, the eldest child of the deceased, said the most important thing is that his father was able to sow a seed of unity which is now being nurtured by all.

“I believe Egba is going to be stronger and we are going to uplift our father’s deeds.”

Prominent Egba indigenes at the occasion included, Mr. Abel Omoruyi, Chairman of Iyare Motors, Mr. Monday Osayande, President Egba Development Organisation and Chairman Ameosa Motors, Engineer Collins Idemudia, Mr. Jolly Osayande, Vice Chairman, Uhunmwonde Local Government Area, Mr. Smart Onaghise and many others.

Act, Petroleum Profit Tax Act, Capital Gains Tax Act, Stamp Duties Act, Value Added Tax, Taxes and Levies among others.

The tribunal, which was inaugurated by the Minister of Finance, Mrs Zainab Ahmed, on November 5 had about 209 cases that are pending at the various Tax Appeal Tribunals across the country.

The monetary value of 209 pending cases across the six geo-political zones of the Tax Appeal Tribunal is $18.80bn, N205.65bn and €0.821m based on figures provided by the ministry of finance.

The pending cases involved multinational companies, while the issues for determination are highly technical and painstaking.

The Tribunal is one of the windows provided in Nigeria’s tax administration system which offers an aggrieved party the opportunity to explore other dispute resolution mechanisms before gaining access to the law courts.

Among other things, it helps to reduce the caseload of the over-laden regular courts by

providing less formal fora for quicker, cheaper and expert resolution of tax disputes in the public interest.

Speaking at the opening session of the sitting, the Chairman of the Abuja zone of the Tribunal, Hon. Alice Iriogbe, warned those having tax disputes against adopting unnecessary delays strategies.

SEARCHING FOR INVESTMENT

L-R: Group General Manager/Human Resources and Admin Dangote Sinotruk , Mr. E. F. Ali; Ekiti State Governor, Dr Kayode Fayemi; and Group General Manager, Projects, Dangote Industries, Mr. Hikmat Bahadur; and Deputy General Manager, Mr. John Wang; during a meeting with the Dangote Group Team in Ado-Ekiti….Monday

Four Niger Delta States Fascinate Stakeholders with Devt Plan In what was both an eye-opening and intriguing session, four states from the Niger Delta west region including Ondo, Edo, Bayelsa and Delta, presented their long-term development plans to stakeholders at the seventh Niger Delta Development Forum.

The first-of-its-kind competitive session was held yesterday in Benin City, and was initiated by the Foundation for Partnership Initiatives in the Niger Delta (PIND) as an opportunity for states in the region to share their vision for state-led developmental planning processes and to get expert feedback on policy strategies.

Two states with the best presentations, the organisers assured, will be assisted with technical assistance and capacity support in bringing their plans to fruition.

Commenting on the performances, Joe Abah, DAI Nigeria Country Director and the lead judge at the event, said they did well in covering their respective development needs and presenting plans on how they hope to further develop.

He said the key qualities that determined how well they performed included the workability of their proposals, likelihood of being able to resource plans, capacity to deliver results, the extent to which there is an implementation plan, and how they have been to involve a variety of stakeholders.

“I believe by going through the exercise itself will be of benefit to them; and so whether or not a state emerges tops at the end of the exercise, we should have given them something with which to do more work,” he observed.

Other judges at the event were Toyosi Akerele, founder and Chief Executive Officer of Rise Networks, Seun Akinsanya, Lagos State Director of Economic

Planning, and Seun Ojo, Head of the Nigerian Economic Summit Group’s Public Policy Intelligence and Reform Management Unit.

Dara Akala, PIND’s Executive Director, said while delivering his welcome address that this year’s edition is the second time the forum will be held in Benin, Edo State. According to him, the aim of the forum is to bring together top government officials from the Niger Delta region in order to influence government policies and to mobilise investment into the region.

“This year’s focus will be on development planning in triggering sustainable development in that region,” he said, after lamenting the absence of a well-crafted, integrated development plan at

the sub-national level.

“The forum is built on the achievements and resolutions of last year’s forum where we agreed on the need to develop plans and encourage peer review mechanism to be able to address problems in the various states. That is why this year’s event is centred around development planning.”

Events at the forum also included a plenary session on consolidating planning and harmonising strategies for impact, which focused on the role of private sector in stateled development planning and lessons from Lagos and Cross River states on implementing policies and sustaining a strategic vision. Contributing on the

panel were Seun Akinsanya, Francis Ntamu, Chief Economic Adviser to the governor of Cross River State, and Mohammed Aliu Momoh, Facilitator of the Investment Working Group of the Nigerian National Assembly Business Environment Roubdtable (NASSBER).

The Niger Delta Development Forum is an annual event organised by PIND and supported by other organisations such as Market Development in the Niger Delta (MADE), the European Union, Department for International Development (DFID), Faculty for Oil Sector Transformation (FOSTER), and Development Alternatives Inc. (DAI).

THISDAYt WEDNESDAY NOVEMBER 28, 2018

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ÍşÎ€Ëœ ͺ͸͚΀ Ëž T H I S D AY

WEDNESDAYSPORTS

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

Super Falcons Land in Final against S’Africa, as BothTeams Qualify for W’Cup in France Femi Solaja After 120 minutes of energy sapping encounter which ended goalless, it was Super Falcons defender, Ngozi Ebere’s well taken penalty kick that shoots Nigeria ahead of Lioness of Cameroon into the final match of African Women football tournament (AWCON) but more significantly earned the country a World Cup ticket next year in France.

The feat also puts Nigeria as the only country on the continent to appear in all the editions of the tournament since the maiden edition in China in 1991.

Like it was in the opening group B matches of the tournament, the team will face the Bayana Bayana of South Africa in the final match on Saturday and both teams will have a lot to play for with Falcons seeking a revenge while the South Africans will aim at conforming their prowess as the new champion on the continent. The win against Indomitable Lionesses of Cameroon however did not come that easy as their deter-

AWCON 2018 mined opponent played a more robust football and controlled the early part of the match played at the Accra Sports Stadium and certainly looked quite skilful against the Cup holders, but the experienced Super Falcons held them at bay, and when the defence got breached, goalkeeper Tochukwu Oluehi was there to keep things tidy. Cameroon came close to score as early as the 4th minute through Ongene whose rising shot almost cut Nigeria’s goalkeeper on wrong foot but her intuition saved the situation and some minutes later, the Lionesses were on the prowl again with a firm header, but Oluehi again was alert.

In the 10th minute, Gaelle Enganamouit tested the Nigeria goal with a snap shot. Again Oluehi was aware.

In the closing stages of the first period, Nigeria pushed forward a bit, but an attempt

by Francisca Ordega to steal the ball from two defenders was fruitless, and Asisat Oshoala’s crisp shot was well saved.

In the second half, the fit and

technically savvy Cameroonians tried to pull strings from the midfield, only to meet their match in Halimatu Ayinde, Ngozi Okobi and Rita Chikwelu.

Okobi wasted a glorious chance in the 54th minute and at the other end, Oluehi again came to the rescue as Ngo Mbeleck’s chip appeared headed for the

net. Both teams hung on in a tedious, tiring extra time, with players spending quality time on the floor.

In the penalty shootout, Njoya Ajara and Raisa Feudjio scored for the Lionesses, with Onome Ebi and Rasheedat Ajibade netting for Nigeria, but Enganamouit’s effort was caught

by Oluehi and after Oshoala scored to put Nigeria ahead, the tireless Ngo Mbeleck saw her kick fly past the goalpost.

Defender Ngozi Ebere then put her effort firmly past goalkeeper Ngo Ndom to put Nigeria in the final and earn a ticket to the 2019 FIFA Women’s World Cup in France.

In the other semi final match, goals from Thembi Kgatlana and a rocket from fullback, Ramalepe sealed the final spot for South Africa against Mali.

Either the Lionesses of Cameroon or Mali can still qualify for the World Cup, depending on which of them win the losers’ final in Cape Coast on Friday.

Super Falcons players celebrating after the 4-2 shoot out win over Cameroon last night

Mikel Obi Foundation Holds Football Clinic in Partnership with KwesĂŠ The Mikel Obi Foundation in partnership with multi-platform broadcast network, KwesĂŠ, on Sunday held a football clinic for children in Lagos.

The clinic saw 150 boys and girls aged 3 – 15 years from the Little Tigers Football Club receive first-hand coaching on football basics namely; ball passing, receiving, trapping,

dribbling and shooting.

The football clinic is a buildup to the launch of “Nigeria’s Next Football Superstar�, a Mikel Obi Foundation initiative which is aimed at giving back to the community.

Mikel Obi, said the clinic “is about giving back to the community, to Nigeria. Home is where it all started for me. I

Toddler Dazzles at 50th Asoju Oba Cup Toddler, Semilore Owoiya was the main focus of the day yesterday at the ongoing 50th Asoju Oba Table tennis championship as she managed to break her height disadvantage but showed great potentials against other players to give the fans a lot to cheer.

Her status cannot convince that she is one of the players listed to compete in the cadet and junior divisions but five-year-old player proved everybody wrong when she stepped on the table for an encounter in the cadet event.

Her grip of the racket was not firm but she managed to return service to her opponent by holding on to the table. Even she was not expected to win any point in the encounter but the youngster dazzled with her strokes that fetched her some points despite losing 0-3 (3-11, 4-11, 3-11) to an experienced opponent – Patience Ojo, the pupil of Akinsemoyin Nursery and Primary School, Surulere was excited making her debut in a tournament.

Despite exiting the tournament early, Owoiya is relishing the experience and excitement

of the championship. “I am so excited competing in my first tournament. It was not that easy playing on a big table like this and in front of a large crowd. But I am so happy that I was able to put to use all the training my mother has given me since I decided to embrace table tennis. I look forward to more competitions,� the youngster said.

Her mother – Yetunde Thompson, a semifinalist at the 2006 edition of the championship explianed that she decided to introduce table tennis to her daughter in a bid to continue with her legacy. “I played to certain stage and at 45, I feel I cannot continue to play again and training my daughter will still keep me close to the game.

I also believe she can achieve what I cannot achieve as a player. But she must also do this with her education because I only had school certificate but I want her to exceed every of my limitation in life,� Thompson said. Like Owoiya, six-year-old Fatiu Animasahun was another youngster that caught the eyes of fans at the Molade OkoyaThomas Hall of Teslim Balogun Stadium as the tournament enters crucial stage today.

will always want to give back to Nigeria, to my community�.

He added that it was the right time as he now has the right support to make the initiative a success.

The KwesÊ brand ambassador and Super Eagles captain who was welcomed to the football pitch of the Children’s International School, Lekki with a

roaring applause and cheers also had a question and answer session with the kids.

He answered an array of questions from his experience at the 2018 FIFA World Cup, his career and life at Chelsea while also encouraging the children to take their education seriously despite their interest in football.

Njoroge Wins FirstBank Lagos Amateur Open Visiting Kenyan golfer, Sam Njoroge, stole the show on his first ever visit to Nigeria, where he also won his first ever International tournament; the 57th in the series of the annual Firstbank sponsored Lagos Amateur Open Golf Championship, which holed out at the golf section of Ikoyi Club 1938 recently. The 2-handicaper arrived Nigeria two days to the take off before unleashing his golf skill on his peers, even though he said the thought of winning was far from him when he got the invitation to be part of the international amateur championship. “I told myself this is my first visit, so I don’t expect I can win. I just want to play good golf, enjoy my game and leave the rest�, he said in a chat with Golf Nigeria. But all that changed after his opening round of 3-over par 75 when he found himself in contention in a field of 90-contenders, mostly Nigerians, many of whom had played on the course severally.

Scaling through the half way cut, Njoroge seemed better prepared for the final round.

Aided by what many described as his flawless swing, chipping and sublime putting skill, the young man instantly became

the topic of discourse around the Course. Some described his as a ‘witch’ on the course, while others simply say he is destined for a great future in golf.

Their thought and admiration for the Kenyan was eventually confirmed when he carded a level par 72, winning the competition by 4-shots over one of the tournament favourites, Monday Eze, who closed with 1-over 73, for 151-total.

Eze shots an opening 78 before, 4-shots off the winners opening 75 to duck in the second position. Eze who was disappointed at the outcome actually gave a good account of himself. He has won the coveted trophy twice and was gunning for his third title before the visitor pushed him down the leaderboard. Emmanuel L. was two-shot further back at 11-over par, over 36-holes while another Nigerian, Emmanuel Olusegun came fourth at +12.

Biodun Oyewoga completed the top-5 category in the competition at +17 over two-days. Already, Njoroge is eyeing pro golf career in Europe, saying, all things been equal, he hopes to be in United Kingdom by June next year in pursuit of long life dream of becoming a professional golfer.

The of President Nigeria Football Federation(NFF) Amaju Pinnick and Mr. Ben Langat, Managing Director, FrieslandCampina WAMCO Nigeria PLC, during the Federation’s visit to the company in recognition of Peak milk’s support to the Supper Eagles

UFC Action to Debut on DStv Soon UFC, the world’s premier mixed martial arts (MMA) organisation, is coming to DStv. SuperSport, The World of Champions can confirm that it has signed a long-term deal with the UFC, beginning in January 2019.

With over 40 live events a year and 100 hours of magazine programming, fans across the continent will see the world’s best mixed martial artists regularly appearing on their screens.

Household names such as former two-division UFC champion Conor McGregor and women’s featherweight champion Cris Cyborg are popular staples of UFC, but beyond them are a host of up and coming world-class athletes, including South African Don Madge who recently made his UFC debut with an explosive knockout of Te Edwards. “We’re pumped to start broadcasts in January,� said Gideon Khobane, Chief Executive

of SuperSport. “UFC consistently delivers high-octane action and cuts across all demographics. It’s a modern sport that understands the need to entertain, which is perfect for SuperSport and an evolving consumer market.� “We have such a strong roster of talented mixed martial artists coming through from across Africa that it is the perfect time for UFC to begin an exciting new relationship with SuperSport,� commented David Shaw, UFC Senior Vice-President International and Content. “The team at SuperSport are committed to building the UFC and we are looking forward to working closely with them in market to achieve our combined goals.�

Celebrating their 25th Anniversary this year, UFC has proven a phenomenon since its humble beginnings in the 1990s, securing a place in popular culture due to its high-profile athletes and compelling fights they produce.

55

ÍşÎ€Ëœ ͺ͸͚΀ Ëž T H I S D AY

WEDNESDAYSPORTS

PSG Confirms Neymar, Mbappe for Liverpool Clash Tonight Paris Saint-Germain manager Thomas Tuchel has confirmed Neymar and Kylian Mbappe are fit to face Liverpool in the Champions League this evening.

Neymar was forced off with a groin injury after just eight minutes of Brazil’s 1-0 victory over Cameroon in Milton Keynes during the international break, while Mbappe sustained a shoulder injury after an awkward landing during France’s 1-0 win over Uruguay in Paris.

But Tuchel revealed both will be available and told a press conference: ‘Neymar is 100 per cent fit, as is Mbappe, and they will be in the line-up tomorrow.’ The German is also wary of Liverpool’s attacking option and said: ‘We need to defend well against (Sadio) Mane, (Mohamed) Salah and (Roberto) Firmino. ‘Firmino may play any position in attack so we have to adapt. What is key for us is to play with confidence and we play to win. ‘A key thing for us is to pass the ball very fast and make swift decisions.’ PSG forward, Neymar during ďŹ nal training session yesterday in readiness for the crucial match against Liverpool tonight in Paris.

Tuchel’s side were put through ‘The more difficult it is, the their paces as they prepared for he has ‘100 per cent faith’ in his six from 12 and PSG with just 6) and it was a really bad one, the Group C encounter against players to deliver the result that one win from four games so far. but we are here tonight to win more you have to think about it. the Premier League outfit at the will transform their fortunes in This is a huge game for PSG a football game. We want to be PSG are dominant in their own but Klopp, who has Sadio Mane as good as possible. It’s a tough league and we have to make sure Parc des Princes on Wednesday the Champions League.

Liverpool’s manager is pre- available after recovering a mild one to come to Paris for a result, they are not too dominant against night. us. It’s much more difficult to PSG are currently one point pared for a stern examination illness, has confidence Liverpool but we are here, so let’s try. ‘I have no clue how it could prepare when my players don’t behind joint-leaders Napoli of his team’s credentials in the can deliver. Klopp said: ‘They and the Reds in the group in Parc des Princes against a Paris were never mind games. They go. But this is two very ambitious know their opponents.’ Klopp is a huge admirer of third place with two matches Saint Germain who themselves were injured, but I am pleased teams in an interesting situaare fighting to stay in Europe. for them. I always expected them tion in the group. We brought both Mbappe and Neymar but remaining.

The Ligue 1 side will face a Neymar and Kylian Mbappe will to play. Sadio came on the plane Belgrade back into the group, he has not spent extra time trying shock elimination should they lead the charge after recovering and the last time I saw him, he so we play for everything. From to brief his defence about to lose to Liverpool and Napoli from injuries but Klopp expected was fine. We are sportsmen and the beginning this group was contain the two most expensive always a difficult one. We haven’t footballers in the world. we want to win games. them to be fit. beat Red Star Belgrade. ‘This generation will have ‘We played in Belgrade (losing moaned about it and now we Group C is delicately poised, Meanwhile, Liverpool coach, watched 5000 Youtube videos Jurgen Kloop has instead that with Liverpool having taken just 2-0 to Red Star on November are here in Paris.

of Neymar and Mbappe, so there will be no surprises,’ said Klopp. ‘When they have the ball, with the speed of them, they are away if you are not compact. But I believe 100 per cent in our group. ‘How are we going to play?

We are going to be brave in a very difficult game. We enjoy these games. We enjoyed it against Manchester City, we enjoyed the first PSG game, even though it is unbelievably difficult. But when we are at our best, we are really not so nice to play against.’

Fellaini’s Late Strike Sends Man Utd to Next Round r.BESJE 3PNB .BO $JUZ 0UIFST RVBMJGZ Manchester United are through to the knockout stages of the Champions League but they their fans had to endure another night of frustration before Fellaini sealed their progress from Group H. The Belgian controlled a long diagonal ball from Luke Shaw in the first minute of injury-time and held off Loris Benito before turning to score.

Next month’s final game against Valencia in Spain is now an irrelevance.

This meant that United avoided a second goalless draw here in the space of four days, and the embarrassment of failing to score in three home European games in a row for the first time in their history.

You couldn’t fault Mourinho’s bravery. Following a desperately poor showing against Crystal Palace here on Saturday, he dropped Paul Pogba and Romelu Lukaku to the bench, and Alexis Sanchez from the squad completely.

The outcome looked like being the same. A slightly less lethargic United labouring to another draw in front of their own fans.

It might have been different had Marcus Rashford converted a glaring chance early on, but he didn’t and United were grateful to David De Gea for an incredible save in the second half.

United had gone backwards since a stirring win over Juventus

Fellaini delivers a late strike against Young Boys FC to give Manchester United the vital lone goal win at Old Traord last night

in Turin three weeks ago. A comprehensive defeat in the Manchester derby had been followed by a turgid goalless draw here with Crystal Palace, dragging Mourinho back to the dark days of September and early October.

The manager had hardly helped himself by questioning the ‘character’ and ‘personality’ of his young players before the Palace game, and the ‘heart’ of his entire team afterwards.

Mourinho reacted with a bold team selection last night. The absence of Pogba, Lukaku and Sanchez was a big surprise, and so too was the return of captain Antonio Valencia for the first time since he liked a social media post called for Mourinho to be sacked almost two months ago.

The night at least started well for United as they turned up on time, having suffered the embarrassment of being late for their previous two Champions League home games against

Valencia and Juventus.

The game began well too, with United producing the more dynamic start their manager had demanded.

There were less than five minutes on the clock when an over-hit pass from Luke Shaw was deflected into the path of Marcus Rashford.

The young England international sprinted clear with only David von Ballmoos to beat but his chip over the keeper clear the crossbar as well by a matter of inches.

Down on the touchline, Mourinho turned away in disgust. It was the kind of wasted chance that can prove so costly at this level. ‘You are always asking for Marcus Rashford to play, so you cannot complain,’ said Mourinho before kick-off, and once again Rashford had missed an opportunity to justify his inclusion as a central striker in place of Lukaku.

Another chance came his way from an incisive move in the 14th minute. This time the effort was on target but straight at Von Ballmoos who gathered comfortably.

When a flick from the impressive Jesse Lingard gave Rashford another sight of goal midway through the first half, he flashed a shot inches wide from yards.

United’s other best attempt of the half came from Fred, who rifled a shot over early on, but they reached the interval without a goal to show for their superiority.

Young Boys provided very little to cause their magnificent fans even greater excitement, or worry David De Gea, until

TON I GHT FI X TUR ES Atletico Vs Monaco Dortmund Vs Brugge PSV Vs Barca Spurs Vs Inter PSG Vs Liverpool Napoli Vs Zvezda Lokomotiv Vs Galatasaray Porto Vs Schalke RESULTS AEK 0-2 Ajax Bayern 5-1 Benfica Hoffenheim 2-3 Shakhtar Lyon 2-2 Man City CSKA 1-2 Plzen Roma 0-2 Madrid Juventus 1-0 Valencia Man Utd 1-0 Young Boys

added time at the end of the half when the ball reached Djibril Sow inside the six-yard box and he failed to convert it with an audacious flick well off target.

Kevin Mbabu fired into the side-netting for the Swiss champions shortly after the restart, but the second half was just as one-sided in United’s favour.

However, they were becoming increasingly erratic as the minutes

ticked by. Phil Jones ballooned one cross into the Stretford End, closely followed by a shot from Anthony Martial. Rashford flashed another effort wide of the post, bringing another disdainful look from his manager.

Mourinho sent on Pogba and Lukaku in the 65th minute to try to turn the game, but it was Young Boys who came closest to snatching victory.

AXA MansardPromotes Healthy Living with Kids’ Mini Marathon The 2018 Lagos Kids’ Mini Marathon was held on Saturday, November 3, 2018 in Ikoyi Lagos, in partnership with AXA Mansard Insurance plc as the official insurance sponsor of the event. The Marathon which was themed “Active Kids Rock�, was the 2nd Edition of what has become an annual family event promoting sports and healthy living. It was an opportunity for families and friends to bond and create memories that will last a lifetime, while promoting a charitable course and inspiring kids to become more physically active for a lifetime from an early age.

Speaking at the event, Mr Kola Oni, Group Head, Strategy & Marketing at AXA Mansard Insurance plc stated that, “we are excited to be a part of this iconic event as we once again partner with St. Saviors School to further promote wellness in

the society. Beyond this, it is also an opportunity to contribute towards helping disadvantaged children and ultimately promoting excellent primary education in Nigeria.�

Commenting further, Mr Oni said, “At AXA Mansard, we will continue to be at the forefront of health improvement and look forward to making a difference in the lives of kids, young adults and the community at large.

Supporting the Kids’ Marathonis our way as a leading insurer, of throwing our weight behind the leaders of tomorrow. We remain resolute in making Nigeria and the world at large a healthier place�

AXA Mansard Insurance plc is a member of the AXA Group, the worldwide leader in insurance and asset management with 166,000 employees serving 105 million clients in 62 countries.

Wednesday November 28, 2018

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Price: N250

MISSILE

PDP to Defence Minister

“Our party considers it insensitive and a gross impunity for the Minister of Defence to be engaging in patronising souvenirs for President Muhammadu Buhari at a time when our soldiers are being killed in their numbers” – The PDP accusing the Minister of Defence, Mansur Muhammad Dan-Ali, of showing more interest in APC’s re-election than the welfare of soldiers fighting the insurgency in the North-east.

JOEKESHI Atiku’s Dream to Make Nigeria Work GUEST COLUMNIST

T

he much-anticipated Atiku Abubakar policy document to make Nigeria Work Again has been launched and now available for public scrutiny.

Alhaji Atiku Abubakar, a former customs officer, a consummate politician and successful businessman was for eight years, the Vice President of the federal republic of Nigeria (1999- 2007). Atiku has been a constant feature in all-presidential elections since 2007 but this is the first time l can recall him issuing such an elaborate and detailed policy statement on his dream of making Nigeria work.

The document, perhaps first of its kind by any presidential candidate, is a work of many months by the former VP and his team of advisers and consultants. It is quite an interesting document, well-written, easy to read and comprehensive in the sense that it covers or laid out policy objectives on all sectors including and remarkably enough, sports and culture, which are not often government priorities.

Its introduction is a strong compendium or a detailed analysis of the problems confronting the nation. As it is said in base ball, it is a home run, and l have no doubt that Nigerian desk officials at the IMF, World Bank and the ADB would be glad to read the document and perhaps be comforted that a presidential candidate in Nigeria has shown deep understanding and knowledge of the country’s myriad of problems and indeed supervised strategic sessions to lay out what he would do as president if elected, including identifying the imbalance in the relationship between the federal government and the federating units as well as highlighting, the absence of justice, fairness and equity as the bane of the Nigerian society.

Indeed, our refusal as a nation to imbibe and uphold these values remain one of the greatest challenges facing us and perhaps the main source of the many angers and divisions in the country. About three years ago, then General Buhari, as the presidential candidate of the All Progressives Congress, of which Atiku was a major supporter and financier, penned a set of promises all of which began with “We will”. They were all repudiated as soon as he won and became president and for over a year the APC government was struggling to put in place a discernible and credible economic policy. In the process, the economy went into recession. The clear message from Alhaji Atiku Abubakar both from the document and the video launching the document is that he is ready and prepared to be president from day one. His policy document is his affirmation The document as stated above is divided into various sections dealing with each sector of our national life. On every sector, there is an overview, which summarily and in bullet forms restated the problems facing the sector. This is followed by the policy objectives and of course, what we shall do. Interested readers are best advised to pay more or greater attention to this section as it states what to expect from the Atiku presidency, at least in term of deliverables. This is where you find all Atiku’s promises and solutions to the economy including, privatization, job creation, infrastructural development (including power and roads) agriculture, manufacturing, poverty eradication, monetary and fiscal issues human capital development (education, health and ICT) and of course corruption. There are about 45-50 on the WHAT WE SHALL segment.

This is where l foresees some difficulties in what Atiku proposes to do to make Nigeria

Atiku work again.

Apart from the familiarity of the promises, to ensure that Nigeria works again would require bold and innovation initiatives on all fronts and a courageous leader with ambitious policies and programs and also prepared to take some hard decisions to move Nigeria forward. That did not come out strong or clearly enough in the policies outlined in the document and regrettably that’s what Nigerians are hungry for. In a fast moving world, driven by technology, which changes rapidly and in a world in which we are not pioneers, we cannot wait endlessly to see Nigeria progress to becoming an advanced nation in its own right.

Taking tentative steps is not what is required in a country with very high youth employment and increasing population, high infant mortality, 10 million children out of school, power output about 4000 mw for a population close to 190million or for a country which has been recently declared the poverty capital of the world, taking over from India, which built 44 million toilets throughout the country and in the process took twenty million people out of poverty and changed Indians sanitation behaviour I believe strongly that despite our negative feelings about our country, the fundamentals for Nigeria’s greatness are with us. What is missing is a conscientious leader or a leadership with the right vision to take the country across the finishing line. This where, the Buhari foundational argument is unacceptable. Thus, l urge Atiku and his advisers to revisit the document and engage in some serious critical and out of the box thinking. Something are clearly missing and examples abound especially in terms of quick wins or low hanging fruits that could create hope and rekindle confidence across board and within the first hundred days of the administration Let me highlight a few.

First, the decongestion of the Lagos ports. It appears the team is not too sure exactly what to do when the simple and long term solution is to embark on developing ports in other parts of the country, particularly in the Niger Delta that for years have been deliberately neglected. As far as l can remember, successive governments in Nigeria since the military have been dredging the Port Harcourt and Calabar seaports with both still not fully operational and functional.

If we dare to do some calculations, it will not surprise us that the amount governments in Nigeria have spent dredging some ports in this country would have been enough to build

many more and modern seaports.

Apparently too, the Atiku team did not consider it necessary or important enough to recognise the efforts of the Akwa Ibom state government to build a deep-sea port in the state. The planning, including the design of the lbom deep sea port are all in place and l believe some funding have been secured to commence construction of the port. What is wrong with the federal government under Atiku investing in the deep-sea port to accelerate its completion and insist as well, that the dredging of the Port Harcourt, Calabar and perhaps the Warri ports be completed in the first year of the administration? It is such dynamic decisions and a leader with such mind set and preparedness to act with military precision that will move Nigeria forward and quickly too.

Secondly, on manufacturing, there are four action points on the what- to - do segment of which l welcome the decision to review import duty on raw materials available in the country and on imported machinery. Beyond that l am sceptical about the efficacy of delaying all major economic policy formulation until consultation with the Manufacturers Association of Nigeria, Chambers of Commerce and all stakeholders are completed. For goodness sake, it would have been helpful if members of the bodies mentioned were among those invited to Dubai where the document was finalized. I honestly hate to believe that a number of the advisers have no idea on how to address Nigeria’s poor manufacturing capacity to the extent that the document failed even to identify manufacturing entities that the country urgently requires. What would have been appropriate and indeed what is being suggested is reflected further in the document in the health segment where it was noted that the Atiku government would “encourage medium and large scale pharmaceutical industries for the local production of essential drugs.”

Thirdly, on Agriculture, you see the same lack of dynamism, definitiveness and focus on the things we should be doing. There is the need for broader policy beyond the promised financial incentives that includes identifying the products the nation should focus on in order to achieve its dream of becoming an export nation.

If we really want to improve agriculture and its contribution to the nation’s GDP we should focus on reviving Nigeria’s traditional cash crops like cocoa, oil palm, cotton, rubber, timber, groundnuts, etc. To be successful, the federal government under Atiku would have to work in concert or compel the states to focus on developing agriculture something most of them currently do not show much interest in. In most of the states, funds are voted annually for agriculture with very little spent often times, on the purchase of tractors that are never used. A few years ago, the Akpabio administration in Akwa Ibom, voted N11 billion on agriculture but spent only N900, 000 on some empowerment programs which had little to do with agriculture. The middle belt or north central which should be surviving as the food basket of the nation, given its great agricultural potential is perennially engaged in either indigene - non indigene conflicts or indigenes and herdsmen war of attrition and a region so blessed, wallows in poverty.

Edo State was advised in late 1999 to focus on growing rubber across the value chain in order to become a global supplier of rubber products. Rubber like oil palm takes about five

to six years to mature and produce raw rubber, but almost produces for life. Eighteen years later no successive regime in Edo has given thoughts to that suggestion. l mentioned oil palm not only because of the domestic and global shortages but because it still holds a lot of promises for the south -south and south- east which in the 1960s survived on it. Indonesia and Malaysia with annual production of 45,000 and 40,000 metric tons respectively are the major producers in the world and both survive on it. They are followed by Columbia, with a million metric tons and Nigeria at 900,000+ metric tons and high domestic shortage.

As a result, in 2011 at the directives of the then governors of the six south –south states, the BRACED Commission, working with the states and a number of local and international experts and agencies, came up with a regional policy on agriculture which essentially asked all the six states to develop oil palm throughout the region in the first instance, and to choose, two other products from cassava, cocoa, rice, rubber, timber, banana/plantain and aquaculture in which they have comparative advantage and develop across the value chain. Instead the emphases of successive governments in the states have been on projects, essentially roads, building or rehabilitating a few schools and hospitals.

In highlighting these examples, it is simply to say that the states hold the key to the success of any diversification efforts with agriculture and industry as priority. It is also to emphasize as much as l can that to succeed the federal government as a matter of national interest or deliberate state policy must find ways of persuading states to put agriculture at the top of their agenda. If states are encouraged to focus on one or two major crops, significant progress will be made. Let us bear in mind that a number of countries in the world still depend on these primary agricultural crops to survive. Somewhere in the Atiku document it was outlined that states that are progressive in teams of development or doing well would be financially compensated as a form of encouragement.

This, however, should not be open ended, but should be qualified and limited to states that are doing well in agriculture and human capital development, particularly education, health and ICT. The criteria and evaluation must be stringent, high standard performance and evidence based to encourage seriousness and focus. It must not be federal characterised, as that remains the source of the injustice and unfairness in this country.

At this juncture, may l propose to the Atiku team to give serious and reasoned consideration to encouraging the creation of zones of economic development to promote regional economic cooperation and integration. This enables states to pool resources together for the development and prosperity of the regions. In the south west and south- south where this is being attempted, it is just the absence of the knowledge of the benefits of sub regional cooperation and lack of political will that continue to hinder progress.

Besides, governors in this country have the mindset of local champions. t"NCBTTBEPS ,FTIJ JT B SFUJSFE 'FEFSBM 1FSNBOFOU 4FDSFUBSZ NOTE: This piece is concluded in the online edition on www.thisdaylive.com

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