MONDAY 10TH DECEMBER 2018

Buhari Urges Africans to Unite against Corruption Atiku, Tinubu celebrate Ribadu

Adedayo Akinwale and Shola Oyeyipo in Abuja

President Muhammadu Buhari has called on every African, especially the younger generation, to collaborate on

every front towards ensuring that corruption becomes a thing of the past on the continent. This is coming as the presidential candidate of the Peoples Democratic Party

(PDP), Alhaji Atiku Abubakar, has described Buhari’s war against corruption as a sham and congratulated the pioneer Chairman of the Economic and Financial Crimes Commission (EFCC), Malam Nuhu Ribadu,

who was recognised alongside seven others and organisations globally for their efforts in fighting corruption in Nigeria. Named in January 2018 as the African Union Anticorruption Champion, Buhari

made the call yesterday when he declared open the 2018 Africa Youth Congress against Corruption (AYCAC2018) with theme: ‘Winning the Fight Against Corruption: A Sustainable Path to Africa’s

Transformation,’ at the old Banquet Hall of the State House, Abuja. “As Africa promotes regional integration and global Continued on page 8

Don’t Meddle in Lawyer, Client Relationship, NBA Tells EFCC… Page 8 Monday 10 December, 2018 Vol 23. No 8636. Price: N250

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Fuel Crisis Looms as Marketers Order Depots’ Shutdown Ndubuisi Francis, Chineme Okafor in Abuja and Peter Uzoho in Lagos

THE FUTURE ON PARADE.... L-R: Executive Director, Zenith Bank Plc, Mr. Dennis Olisa; Group Managing Director/ Chief Executive Officer, Mr. Peter Amangbo; his wife, Chinyelu; and Executive Director, Mr. Tope Fasoranti, with children during the bank's 2018 Christmas Youth Parade in Lagos...yesterday

Oil marketers under the aegis of Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) yesterday directed their members to shut down all depots in the country at midnight to protest federal government’s failure to pay them their outstanding subsidy claims estimated at N800 billion. The Nigerian National Petroleum Corporation (NNPC) has, however, described the action of the marketers as economic sabotage. The Ministry of Finance had announced, at the weekend, Continued on page 10

2019: Despite Presidential Veto, INEC Forecloses Use of Incident Form To rely on extant law, regulations to back card reader Adedayo Akinwale in Abuja The Independent National Electoral Commission (INEC) has said despite the refusal of President Muhammadu Buhari to assent to the Electoral Act (Amendment) Bill 2018, which

makes the use of card reader mandatory, the 2019 elections will not be conducted with incident form. INEC’s assurance is coming as the Peoples Democratic Party (PDP) Presidential Campaign Organisation

has said the use of incident form in the impending general elections would be unacceptable to it. The electoral body, however, said the rejected bill would have addressed the controversies that trailed

the 2015 exercise especially the place of technology and others that the amendments seek to address. Responding to THISDAY enquiry yesterday, INEC’s Director of Voter Education and Publicity, Mr. Oluwole

Osaze-Uzzi, said the presidential veto has created no lacuna in the electoral legal regime, explaining that the Electoral Act 2010 as amended in 2015 would be the operative law. According to him, “While

it may be better to have the necessary amendments to avoid some of the controversies that trailed the 2015 exercise, especially the place of technology and others the Continued on page 8

Obasanjo: I am Not Neutral, Nigerians Must Vote for Change… Page 10

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Don’t Meddle in Lawyer, Client Relationship, NBA Tells EFCC Alex Enumah in Abuja The Economic and Financial Crime Commission (EFCC) lacks the locus standi to meddle in client and lawyer contractual relationship, the Nigerian Bar Association (NBA) has said. In a communique issued yesterday at the end of NBA’s National Executive Council (NEC) meeting held in Abuja, the association insisted that the fees that are paid by a client to his lawyer are not only a matter of privilege but also contractual. Briefing journalists yesterday, the NBA President, Mr. Paul Usoro (SAN), said the NEC deliberated on, and adopted as its resolution, a report he forwarded to the EFCC in respect of criminal charges filed against him by the federal government. Copies of the communiquÊ and Usoro’s report were made available to journalists

yesterday. Usoro spoke against the background of his impending arraignment today in a Federal High Court in Lagos, over N1.4 billion money laundering allegations levelled against him by the EFCC. The sum was alleged to have been received from the Akwa Ibom State Government. The NBA noted in the communique that Usoro was investigated by the EFCC based on a bank’s N300 million inflow into his law firm’s account on March 14, 2016. Usoro also said he was investigated based on the subsequent outflows from the account to various senior counsel between March 22 and 23, 2016. The NBA NEC observed that the inflow was payment by Governor Udom Emmanuel of Akwa Ibom State in respect of an Election

Petition Appeal that was determined by the Supreme Court, for which Usoro served as the coordinating counsel. The NBA said it observed that the EFCC appeared to be straining hard to criminalise the fees that were earned by the lawyers for their legitimate work. It said, “Usoro’s case is not the first of these intrusions. We all recall the case of Mike Ozekhome (SAN) when the EFCC attempted to forfeit his fees on the pretext that the funds came from illegal sources. “If these EFCC incursions are not checked, the Bar and the practice of our profession are doomed.� According to the NBA, the practice of law is founded on the independence of the legal practitioner and his courage to advocate on behalf of his client to the best of his ability and conviction. “That independence and

the courage of the advocate are now being threatened and trampled upon by the EFCC. “Lawyers now have to work and walk on tip-toe, looking over their shoulders to determine whether the EFCC would be coming after them solely on account of their courage and independence in advocacy. “That does not bode well for the profession or for legal practice generally.� The association held that client, lawyer privilege had judicially and historically acknowledged that issues of fees, as between a lawyer and his client, were a matter of privilege. According to the NBA, “The recent decision of the Court of Appeal that was delivered on June 14, 2017 between Central Bank of Nigeria v Registered Trustees of the NBA affirmed this position. “By questioning lawyers on the legitimate fees that

they have earned from clients, the EFCC is breaching the lawyer-client privilege and showing complete disregard for the judgments of the courts in this regard. “As we all know, nonparties to a contract are complete strangers thereto and lack the locus standi to question and/or determine the propriety of such contract(s). “The EFCC stands in that position in this and other matters of this nature; it lacks the locus standi to question the basis for the fees.� On the 2019 general elections, NBA averred that several actions of government and its agencies continued to threaten and undermine the rule of law in the country and must be resisted. It said, “As we approach the general elections in 2019, vigilance must be our watchword as there are already signs of storms in our horizon.

� It behoves on us as lawyers and the conscience of society to be vigilant, vocal and remain on the vanguard of fighting for free, fair and credible elections where the will of our people will not be subverted. “The votes of our people must count, and their will must not be sabotaged or subverted, and this applies to all the levels of polls – presidential, gubernatorial, National and State Houses of Assembly.� The NBA also condemned in the rampant killings of lawyers in the country, attacks on court premises, spate of kidnappings, menace of herdsmen, and other forms of criminalities across the country. The umbrella body of all lawyers in Nigeria called on the federal government to be more proactive in addressing the hydra headed challenge of insecurity in the country.

started its zonal presidential campaigns was an indication that the All Progressives Congress (APC) could not win the election in a free and fair contest. He stated, “I want to tell INEC that it is a major unacceptable embarrassment that the business of incident forms will now take precedence over the card reader. “Card reader is what must be encouraged to be the only thing that will be used for the 2019 elections. But how can we trust the integrity of the process if it is compromised by incident forms and underage people voting.� Sowunmi insisted that the

2019 elections should be a celebration of the development of the country’s democratic journey, which he said could only be achieved if INEC conducts free, fair, credible and transparent elections in 2019. An online newspaper at the weekend reported that at least 13.5 million Nigerians voted manually, without biometric accreditation, in the 2015 presidential election, according to data from INEC, part of the problems the amendment bill seeks to address. The data, obtained by DeepDive Intelligence, shows that Buhari, candidate of the APC, won in nine of the 10 most-affected states, notwithstanding that the

non-use of PVCs during the poll cut across all the political parties’ strongholds. The 2015 presidential election had two major contenders, Buhari and Goodluck Jonathan, Nigeria’s first incumbent president to lose a re-election bid. Of the 31,746,490 accredited voters in the election, 13,536,311, representing 42.6 per cent of voters, voted without biometric accreditation. Out of this number, 10,184,720 votes are from states won by Buhari and 3,351,591 votes came from states won by Jonathan, the PDP candidate, representing 75 per cent and 25 per cent of accredited voters respectively.

the world. The winners, who were drawn from Asia, America, Africa, Oceania and Europe, were celebrated in an event held in Putrajaya, Malaysia. While speaking with THISDAY yesterday, the spokesperson of PDP presidential campaign organisation, Mr. Segun Sowunmi, congratulated Ribadu on his award, adding that he was one of the stars that Atiku discovered and allowed to contribute his quota to the fight against corruption during that era. He lamented that the present occupiers of office have not been able to get anybody to acknowledge their efforts or recognise them because their anti-corruption fight has been less acceptable to the people in its scope, style, language and civility. He said the anticorruption fight of the Buhari administration is a shame, which has not earned the administration any commendation because the activities of the present government are hijacked by two men as confirmed by the wife of the president, Mrs. Aisha Buhari.

Sowunmi stressed that anti-corruption war is a continuous process, adding that it would enjoy attention from Atiku as president. He noted that EFCC, the Independent Corrupt Practices and other related offences Commission (ICPC) and Due Process Office were all part of the creative genius by the then PDP administration to mitigate and reduce corruption in systematic and process driven manner. Sowunmi stated, “Going forward, Atiku is going to do a whole lot more especially along the line of ensuring that transparency that exist in the collection of revenue will now be mirrored in the expenditure side of the money. So, whatever it is that Bank Verification Number (BVN) has achieved, a transparent revenue window is going to help achieve it and also help to curtail the outflow of those monies. “We are going to use technology in implementing a programme that will allow all the drawing out of government money to be transparently seen by all and sundry, just like BVN allows them to see all the

revenue. We have done well in the revenue side, we are now going to do even better in the expenditure side. “Our team is being carefully

2019: DESPITE PRESIDENTIAL VETO, INEC FORECLOSES USE OF INCIDENT FORM amendments seek to cure, we can still have good elections with the extant act as we did in 2015, which were adjudged free, fair and credible.� Reacting to a report by an online newspaper that 13.5 million voters voted for Buhari without full biometric accreditation in 2015, Osaze-Uzzi said, “How was this determined? Biometric accreditation does not determine who a person votes for. Put another way, the card reader is used for biometric accreditation. It doesn't determine how such persons vote. “Incident forms will not be used in 2019.� President Muhammadu Buhari had last week, for

the fourth time withheld his assent to the amendment bill, citing legal drafting errors. In separate letters dated December 6 titled, ‘Presidential Decision to Decline Assent to the Electoral (Amendment) Bill, 2018’, addressed to the President of the Senate, Dr. Bukola Saraki, and Speaker Yakubu Dogara of the House of Representatives, Buhari explained that he was declining assent “principally because passing a new electoral bill this far into the electoral process for the 2019 general election, which commenced under the 2015 Electoral Act, could create some uncertainties about the applicable legislation to govern the process.�

The president also listed four provisions of the bill that required drafting amendments by the National Assembly. They include Section five of the bill amending section 18 of the principal act, which should indicate the subsection to which the substitution of the figure “30� for the figure “60� is to be effected and Section 11 of the bill amending Section 36 should indicate the subsection in which the proviso is to be introduced. But the PDP presidential campaign said the use of incident form would not be acceptable to it in 2019. One of the spokespersons, Mr. Segun Sowunmi, said that outpouring of goodwill by Nigerians since the PDP

BUHARI URGES AFRICANS TO UNITE AGAINST CORRUPTION prosperity, corruption remains a major stumbling block to the realisation of the seven aspirations of the African Union Agenda 2063 and the United Nations Sustainable Development Goals (SDGs),� he said, adding, “We must, therefore, fight it from all angles and avenues without ceasing. And only a united front led by the African youth can change this present narrative to a great story of African transformation.� Quoting the late fiery lawyer and renowned Nigerian anti-corruption crusader, Chief Gani Fawehinmi, Buhari added, “You do not justify your crime by a defence that there are other criminals.� He described corruption as, “Once-hidden taboo and hydra-headed challenge that freezes our aspirations and dents the hopes of our youth for a newly emergent Africa.� He said, “Of particular interest to the youth, as reflected in the Nouakchott Declaration, is the emphasis on the imperative of investing in the demographic dividends through anti-corruption, education and sensitisation campaigns, targeting young

people as a means of bringing about behavioural change.� Buhari commended the efforts of Mr. Moussa Kondo from Mali for his Accountability Lab in the Republic of Mali, designed to build sustainable coalitions of accountapreneurs. He also commended Mr. Maxence Melo from the United Republic of Tanzania and founder of JamiiForums, for strengthening the viability of whistleblowing policy tools. Also praised by Buhari was Nigeria’s Damilola Olawale, founder of Code IT, for using technology to give young people the tools to demand transparency in the management of public resources. The Commissioner for Political Affairs, African Union Commission, Mr. Minata Samate Cessouma, commended Buhari’s doggedness in the fight against corruption and for co-opting the youth into the fight against graft. In his remarks, the acting Chairman of EFCC, Mr. Ibrahim Magu, who spoke on behalf of anti-corruption agencies in Nigeria, regretted that corruption in Nigeria and

Africa is very high.

Atiku Celebrates Ribadu, Tags Buhari Anti-corruption War a Sham Meanwhile, the presidential candidate of the PDP, Atiku, has described Buhari’s war against corruption as a sham and congratulated Ribadu, who was recognised alongside seven others and organisations globally, for his efforts in fighting corruption in Nigeria. The former EFCC boss who was nominated for the award by a Nigerian non-profit organisation, African Centre for Media and Information Literacy (AFRICMIL), was honoured in the category of Anti-Corruption Lifetime Achievement, at the Third annual Sheikh Tamim Bin Hamad Al Thani International Anti-Corruption Excellence (ACE) Award 2018. The award was established to shine a light on the fight against corruption across the world and acknowledged the outstanding contributions towards the prevention and the fight against corruption that are being made around

Continued on page 10

TOP GAINERS IKEJHOTEL DIAMONDBANK LASACO REGENCY NESTLE TOP LOSERS NEWREST ASL SCOA NNFM

NGN NGN 0.17 1.87 0.09 1.02 0.02 0.29 0.01 0.21 69.00 1,549.00 NGN 0.70 6.30 0.32 2.93 0.50 4.80 CHAMS 0.02 0.22 NAHCO 0.19 3.41 HPE Nestle Nig Plc â‚Ś1,549.00 Volume: 178.994 million shares Value: N1.556 billion Deals: 2,631 As at Friday 07/12/18 See details on Page 39

% 10.0 9.6 7.4 5.0 4.6 % 10.0 9.8 9.4 8.3 5.2

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Obasanjo: I am Not Neutral, Nigerians Must Vote for Change Femi Ogbonnikan in Abeokuta Former President Olusegun Obasanjo yesterday said he would not sit on the fence or be neutral in next year’s general elections, emphasising his commitment to a change of a government he thinks has hindered the economic development of the country. Obasanjo’s position was made known in a statement by his media aide, Mr. Kehinde Akinyemi, in which he denied media reports that he had decided not to support any candidate for next year’s presidential election. The former president, who already declared his support for the presidential candidate of the Peoples Democratic Party (PDP), Alhaji Atiku Abubakar, said he would

not sit on the fence when he needed to be out and active for people to know where he stands in the best interest of Nigeria. He accused the President Muhammadu Buhari administration of incompetence, corruption, lack of focus, insecurity, nepotism and brazen impunity, saying that only a fool would sit on the fence or be neutral when his or her country is being destroyed. The statement explained that Obasanjo’s comment during a recent function in Owu, Ogun State did not suggest his neutrality, asserting, “Only a fool will sit on the fence or be neutral when his or her country is being destroyed by incompetence, corruption, lack of focus, insecurity, nepotism,

Obasanjo brazen impunity and denial of the obvious.� According to the statement, “While Chief Obasanjo is in Cairo to attend the maiden edition of the Intra-African Trade Fair (IATF), of which he is Chairman of the Advisory

Council, his attention has been drawn to a report by the News Agency of Nigeria (NAN) with the headline ‘Atiku: Obasanjo Shifts Political Gear to Neutral.’ “It is disingenuous, if not malicious, for anyone to suggest that Chief Obasanjo was being neutral when he chose not to use the Owu Convention as a platform for political campaign but instead adopt a communal and familial approach in talking to members of his Owu family. “For the records, and as accurately reported by some media organisations, what the former president said at the convention in Iwo was that while he would not impress any candidates on them, Nigerians should

vote for credible candidates who will drive growth and development and make their lives better than it is now. “Obasanjo is no such fool nor is he so unwise.� It said the former president urged Nigerians to stop complaining about their current situation and advised that they should go out to get “beneficial change,� knowing that, “such change will not come if they remain inactive just complaining and complacent and they allow themselves to be deceived by sycophants and enemies of Nigeria.� It quoted the former president, “If they do not become active and get much needed change of the current administration

to a government that will improve the economy, regain the confidence of investors and generally drive growth, development and economic progress with security, what is coming will be much worse than what Nigerians currently suffer.� He said he would continue to speak against poor governance and nobody should manipulate his stance on the 2019 presidential election. Obasanjo was an ally of Buhari, whom he supported for the 2015 general elections. He had, however, accused the president of nepotism, poor performance, and sectionalism and declared his support for the PDP presidential candidate.

Flight Operations May Be Paralysed as FAAN Withdraws Services over Debt

Chinedu Eze

Flight operations to some domestic destinations may be paralysed as the Federal Airports Authority of Nigeria (FAAN) said it would withdraw services from yesterday midnight from the Kebbi Airport, Bebi Airstrip, Cross River and Gombe States airports over debts. FAAN provides compulsory services like security, fire cover, marshalling and rescue operations in all the airports in the country as recognised by the International Civil Aviation Organisation (ICAO) and the International Air Transport Association (IATA). Without these services, the airports would be immediately shut down and this would

adversely affect air travel in the yuletide season when there is huge passenger movement as airlines record the highest schedule flights. The General Manager, Corporate Affairs of FAAN, Mrs. Henrietta Yakubu, who confirmed the withdrawal of services by the agency, said Gombe, Kebbi airports and Bebi airstrip owed FAAN a total of N808, 610, 160. Yakubu said Gombe airport owes FAAN N607,289,972; Kebbi owes N124,547,240, while Bebi airstrip owes the agency N76,772,948. A statement issued by the agency said: “Following a final notice of payment issued to the above airports over a month ago, the Federal Airports Authority of Nigeria hereby

notifies airlines, passengers and the public that effective from midnight of December 9, 2018, we are constrained to withdraw the services of our security officers and airport fire and rescue services from Gombe, Kebbi and Bebi airports. “This action has become imperative as the management of Gombe airport is indebted to the Authority to the tune of N607,289,972, while Kebbi and Bebi airports are indebted to the tune of N124,547,240 and N76,772,948 respectively, without any concerted effort to pay up the debts. The FAAN has issued a Notice To Airmen (NOTAM) to this effect in order to give operators into the airports the opportunity to review their logistics plan.�

In response to the NOTAM, Arik Air has announced that it would withdraw its operations from Gombe Airport, Osubi Airport in Warri and also move its Lagos-Port Harcourt flight services which emanates from MMA2 back to the General Aviation Terminal (GAT) of the Lagos airport, which is the airline’s operational base. In a statement signed by Arik Air spokesman, Adebanji Ola, the airline said: “The FAAN has notified airlines of the withdrawal of services to Osubi and Gombe airports. “In a NOTAM issued on December 8, 2018, FAAN stated that it would be withdrawing aviation security, firefighting and rescue operations from Bebi and Gombe airports from midnight of December 9, 2018.

“Consequently, Arik Air will be suspending its flights to Gombe airport and move Port Harcourt flights out of MMA2 from December 10, 2018, until further notice. All Arik Air flights to Omagwa Airport in Port Harcourt will as from the same date operate from Murtala MUhammed Airport Terminal One otherwise known as General Aviation Terminal (GAT).� But FAAN in its statement was silent on withdrawing services from MMA2 and also did not say it would withdraw services from Osubi airport in Warri. But Head of Communications of Dana Air, Kingsley Ezenwa, told THISDAY that the airline would not make a statement

yet until after meeting with BASL, and expressed the hope that the matter would be resolved with FAAN without leading to the agency withdrawing its services. Ezenwa said such withdrawal would drastically affect airlines and passengers this holiday season and hoped that there would be amicable resolution to the matter. While reacting to comments on the adverse effect the withdrawal of services would have on flight operations, an official of FAAN, Funsho Shogunle, said the agency had decided to take this step as the last resort; after all other overtures to make the concerned agencies abide by their part of the bargain failed.

pay the first tranche of N236 billion last Saturday.

Meanwhile, the NNPC has described the action of the marketers as economic sabotage. The Managing Director of the Pipeline and Products Marketing Company (PPMC), Mr. Umar Ajiya, stated this yesterday in Abuja after a meeting between the officials of the NNPC and the oil marketers. Ajiya warned that the government would not tolerate any attempt by any individual or group to disrupt the distribution of petroleum products during the Yuletide. The corporation said, "All IPMAN and major marketers, as well as all NNPC Retail sites would continue to work throughout the period, 24 hours and seven days in a

week. In addition to that, there is a commitment from the NNPC, the majors and the unions to ensure that all their workers participate in the distribution of petroleum products throughout this festive period. "Therefore, a repeat of the 2017 situation is what we are prepared to avert because government, this time around, would not tolerate from anybody, whether single or group, the issue of petroleum products scarcity, as it happened last year, because that would be termed as economic sabotage." Similarly, oil workers under the aegis of Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and the Nigerian Union of Petroleum and Natural Gas Workers (NUPENG) urged the government and marketers to quickly resolve the issue before it plunges the country

into another round of crisis. Speaking on behalf of the oil workers, the National President of PENGASSAN, Mr. Francis Johnson, said the association had intervened in the crisis to protect the interest of its members, as well as that of the country. He said, "PENGASSAN, as one of the major stakeholders in the oil and gas industry, we are concerned. We are also looking at it that the year is coming to an end; they are also talking about 2019 politics and elections. We do not want to do anything to overheat the polity and make Nigerians go through a lot of stress. "For us, we have said, and we are aware that there have been series of meeting to resolve the issue. We stand by that; and we appeal to both government and the oil marketers to look at the larger interest of Nigeria and do what is needful for Nigeria to grow from strength to strength.�

tank, Rule of Law and Anticorruption Centre (ROLACC), celebrates corruption fighters, academics and campaigners from around the world. In a letter to Ribadu, Tinubu reminded him that his work is not finished yet and that he still has much to

give Nigeria and the world. He said, “The award shows that a person of integrity and commitment can make a difference and indeed be successful without sacrifice of principle or ethics. “In recognition of your

intrepid work as the first chairman of EFCC and for your contributions to good governance and anti-corruption worldwide, the award was more than warranted. It was richly deserved. You personify the best of our nation.�

FUEL CRISIS LOOMS AS MARKETERS ORDER DEPOTS’ SHUTDOWN that the federal government had reached an agreement with the marketers after meeting the parties to begin the payment of the money owed them. But DAPPMAN, in a counter statement yesterday by its Executive Secretary, Mr. Olufemi Adewole, denied the ministry’s claim, saying they never signed any agreement with the federal government, insisting that their planned seven-day ultimatum still stands and ordered the shutdown of depots. Adewole said, “Premised on our inability to pay December salaries and to avoid owing staff for work done without any hope of pay, it is hereby agreed, since our staff have been disengaged, all DAPPMAN member depots are not in a position to operate hence will shut down all loading operations at midnight, Sunday, December 9, 2018 until the federal government pays

our calculated claims. “This decision is binding on all members of the association and full compliance is expected from every member company of the association. The association shall revert in the same vein with any other directives as might be deemed necessary.� According to Adewole, the association took the bold step to stop the financial haemorrhage of its members, which arose from the federal government’s failure to pay its members’ outstanding claims. He said, “As you are aware, the association reviewed the suspension of the ultimatum given to the federal government in December 25, 2017, which was suspended due to the intervention of well-meaning Nigerians and the federal government’s promise to immediately pay marketers the outstanding subsidy-induced debts. “Unfortunately as at today,

and almost 12 months to the date, all we got so far are invitations to meetings and dialogues which have so far not stopped the daily increasing interest on these debts (which are owed to banks, AMCON, PPPRA, and PEF(M)B) and FIRS) and which, also has not manifested as credit to marketers.� In a telephone interview with THISDAY, the Special Adviser on Media to the Minister of Finance, Mr. Paul Abechi, said the relevant agencies of the government met with oil marketers last Thursday to resolve the subsidy payment controversy, adding that it was unfortunate for any group to claim otherwise. Abechi noted that people had begun to exploit the political season to advance their interests, adding that to further show government’s commitment to defray the subsidy arrears, it offered to

It’s Economic Sabotage, Says NNPC

BUHARI URGES AFRICANS TO UNITE AGAINST CORRUPTION put together to be made up of those who are very fugal, who are very conscious of usage of government money, that is part of the reason while Peter Obi is the Vice presidential candidate “We celebrate Nuhu Ribadu, we celebrate EFCC,

we encourage the present man to work harder so that in the future he can also be celebrated.�

Tinubu Commends Ribadu The National Leader of the

APC, Senator Bola Tinubu, also congratulated Ribadu for winning the global lifetime award for anti-corruption, saying the award was a testament to his dedication in fighting corruption. The award administered by Doha, Qatar-based think

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

Yakassai, Adebanjo Disagree with Buhari on Electoral Act Amendment Bill Shola Oyeyipo in Abuja

Two notable Nigerian elder statesmen have disagreed with the decision of President Muhammadu Buhari to withdraw his assent to the Electoral Act Amendment Bill 2018, which a number of Nigerians considered as capable of improving the country’s electoral system. Former liaison officer to ex-President Shehu Shagari and founding member, Arewa Consultative Forum (ACF), Alhaji Tanko Yakassai, who was particularly uncomfortable with the sequencing of the election, urged lawmakers to take up the challenge of overriding President Buhari’s veto. “I hope members of the National Assembly will summon the courage to override the veto of the president so that everybody will be elected on his own merit. I don’t know why the president wants to depend on the merit of others to get to power. He can get to

power on his own merit and others can get to power on their own merit,” Yakassai said. The elder statesman added that: “I did not support the position of the president because I think it is important that in this country, every person who is contesting election, the mandate he gets is his own mandate. Electing president along with members of the National Assembly has not clearly defined who has the mandate. “In my opinion, a member, who is elected on his own, the electorate gave him the mandate to himself, not to anybody. “When anyone is contesting as a president or a governor, he should get his own mandate separately so that when it comes to the question of performance, people will know who has performed, according to the mandate given to him or who has not performed. But if you join two people with the same mandate, then you are neither here nor there. So, that is the reason why I am not in support

PDP Fires Back at Oshiomhole over Attack on Obasanjo, Atiku Chinedu Eze

The Peoples Democratic Party (PDP) has fired back at the Chairman of all Progressives Congress (APC), Adams Oshiomhole, for attacking the former Nigerian President, Chief Olusegun Obasanjo and PDP presidential candidate in 2019 election, Alhaji Atiku Abubakar. In a statement signed by the spokesman, PDP Presidential Campaign, Akin Osuntokun, the leading opposition party said, “If anyone has a case to answer before God and man, Oshiomhole would rank very high as a contender. From his mercenary escapades as labour leader through his scandalridden tenure as governor of Edo State to his equally scandal and hooliganism-ridden tenure as APC chairman, he surely is a formidable candidate for multiple lifetime penitence and purgatory. “I bear first hand witness to his outing as a member (in his capacity as deputy president of the Nigeria Labour Congress) of a fourman civil society delegation invited to a classified debriefing session on the Presidential election annulment crisis rocking Nigeria by the German government in 1994. This would be my first encounter with the high level treachery that characterised that unfortunate episode in Nigerian history. They run with the hare and hunt with the wolf.” Osuntokun also recalled that it was during his tenure as the NLC president that his Jekyll and Hyde career truly blossomed, noting, “it was labour racketeering at its most unconscionable. While shouting alluta during the day, these people were busy

hobnobbing in the night seasons with officers and agents of the government on how to contrive the beginning and end of labour strikes.” Osuntokun argued that Oshiomhole’s antecedence as governor of Edo State has been most authoritatively captured in the petition submitted to the Economic and Financial Crimes Commission (EFCC) two years ago by Bishop Osadolor. “Rather than take action to clear his name, he took shelter in the curious decision of the EFCC to ignore the petition. “An innocent man would have been properly outraged and sued the petitioner for defamation of character rather than rely on the curious inaction of the EFCC. Despite constituting an eyesore and a festering wound in the conscience of public spirited Nigerians, it is consistent with the tragic hypocrisy of the Buhari government that its anti-corruption agencies have not deemed it fit to invite Oshiomhole to come and account for this monument to corruption. The PDP campaign spokesman noted that instead of inviting the APC Chairman, he was rewarded with the chairmanship of the campaign of a president seeking reelection on the platform of fighting corruption. “Of course, he wasted little time in drawing attention to the authenticity of how the maggot is always found in the company of putrefaction. This is why barefaced hooliganism and corruption have come, once again, to define his career--according to the First Lady, Mrs Aisha Buhari, Governors Amosun, Okorocha, Yari and similar casualties.”

of the position of the president.” On his part, Afenifere chieftain, Chief Ayo Adebanjo, is of the opinion that the decision of the president is simply to secure victory in 2019 by stopping some of the innovations introduced in the amendment. “To people like me; I am not

surprised. I have always known him to be a dictator. All his pretence to democratic principles is just a fake. He knows that with the amendments the possibility of rigging will be removed; under aged voters and duplications will be removed. “These are the circumstances

that he used to win in the 2015 election and the moment that possibility is removed, he is sure he is going to lose. “For him to withdraw his assent is not a surprise to me! It is only to educate those who have believed in his fake identity to know that the man is not

what he claims to be. “He is a dictator. He wants maximum power. “We have been calling everybody to ensure that Buhari is removed. He knows that and that is why he putting impediments on the way,” he added.

RISING AGAINST RAPE…

L-R: Centre Manager, Mirabel Centre, Juliet Olumuyiwa-Rufai; Founder, Man Up Initiative\Speaker, Temidayo Seriki; Co-founder, We Rise Initiative\Convener of the Dialogue, Laila Johnson-Salami; Founder Jewels Hive Initiative\Speaker, ToyinFalaiye; and founder, The 300 Project\Speaker, Paul Ifendi Ukonu, during the ‘Hear Me Too’ dialogue to end the 16-day campaign on rape and sexual assault crisis by We Rise Initiative at Lekki, Lagos…recently

APC’s Campaign Will be Based on Achievements, Says Spokesman Unveils campaign council soon Onyebuchi Ezigbo inAbuja The ruling All Progressives Congress (APC) has said that achievements and track records will form the yardstick for seeking the mandate of the people in the 2019 general elections The party said it expected the Peoples Democratic Party (PDP) to kick-start its zonal campaign on apologetic note over past misrule in the last 16 years. On the issue of the composition of its National Campaign Council, the party said it would soon make it public and also unveil the campaign itinerary of the presidential candidate. APC also said another issue

that will form the key plank of its campaign messages will be the personality of the presidential candidate of the PDP. Speaking with journalists yesterday in Abuja, APC National Publicity Secretary, Mallam Lanre Issa-Oniru, said his party expected PDP leaders to visit all the zones and apologise instead if jumping into rally. “What we expect the PDP to do in this rally is to go to the zones and apologise profusely - demonstrate remorsefulness, which they have failed to do. And they keep going to those zones for rally to insult people,” he said. When asked why his party

is yet to constitute National Campaign Council, Onilu said: “Well, we don’t have any problem at all and we are very okay. Because campaign rally as you may know is just one aspect of it. There are many other platforms to engage with the people. Rally, is just one. “When we go out for campaign, we will be doing two things because this campaign for APC is about two issues. Character of persons who have come forward to say they want to rule us. We are going to bring character into focus, he said. Speaking on the candidate of the PDP, the spokesman of the ruling party stated that his party won’t

go too far looking “for who will review his past record in government.” According to Onilu, former President Olusegun Obasanjo is the best person to review the character of former Vice President, Atiku Abubakar. “And he copiously did that in his book already and we will bring that into focus. And we have evidence to that and we must bring that to focus.And we must continue to thank President Obasanjo for being so patriotic to have alerted the country to the danger inherent in bringing somebody like former Vice President Atiku close to Nigeria’s assets and resources.

Emefiele: Poor Disbursement of Intervention Funds Responsible for New MFB Nume Ekeghe The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has said the proposed National Micro Finance Bank (MFB) will address the concerns around the several intervention funds that are lying idle in the vaults of the apex bank . Emefiele, who made the clarification at the post press briefing at the end of the 10th annual bankers committee retreat yesterday in Lagos, also urged bankers to encourage and promote

export. The bankers committee annual retreat attempted to articulate how to open up lending to critical sectors of the economy that can serve as a catalyst for economic growth with this year’s theme: ‘Export-led transformation of the economy: Engine for susta2inclusive growth. Emefiele had said at the opening of the retreat that a national MFB slated to be launched in January would leverage on the existing NIPOST presence in 774 local government

areas which will aid the CBN and the bankers committee effort in accessing the Anchor borrowers fund, SME fund and other initiatives tailored towards SMEs, farmers and the CBN’s financial inclusion drive. The CBN governor said the issues bordering on access to credit is a molar bottleneck that must be addressed in order to create the much needed jobs that the country needs. According him, “We have the N210 billion SMEs fund and the N60 billion Agric SMEs fund

which will be N90 billion by the end of the year. “But even the bankers have complained that not all of those funds have been disbursed, and sometimes, I feel embarrassed when people say ‘how come we have not heard about it or we have not accessed it’.” He said the CBN under the auspices of the bankers committee and the National Postal Service decided to create its own independent channel where these funds can go out very quickly.

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COMMENT

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

BUHARI’S GOSPEL OF FAIR PLAY

Nduka Uzuakpundu writes that the president should be commended for urging aggrieved party members to pursue their rights in the courts

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n this season of defections, it may appear unusual that some members of the ruling All Progressives Congress (APC) are leaving it for other parties. In Ogun and Kogi States, where a crisis has been brewing in the past three months, a number of APC lawmakers at the National Assembly have decamped to the Allied People’s Movement (APM), and the main opposition party – the Peoples Democratic Party (PDP). The other day, the Speaker of the House of Representatives, Yakubu Dogara, had the onerous – if embarrassing – duty to announce, in the Green Chamber, that one Adekunle Kabir Akinlade from Ogun State had left the APC for the PDP. On the same date – November 29, 2018 – a member of the House, Kabiru Ajana, from Kogi State, left the APC for the PDP, and Salisu Garba left for the Social Democratic Party (SDP). In Bauchi State, it was reported that four members of the State House of Assembly – alongside the Deputy Speaker, Abdulmumini Fanti had left the APC for the PRP. Of the four, one was a senatorial aspirant and another, a House of Representatives’ material. The defectors in Bauchi State, for instance, led by an APC member representing Bauchi constituency, Abdullahi Shehu, said they pulled with them some 300,000 APC supporters to the PRP. Their reason was that they were cheated and denied ticket for the 2019 general election. All this – and quite a handful more, as in Imo State, where Governor Rochas Okorocha’s bizarre and inordinate ambition to foist his son-in-law, Uche Nwosu, on the people of the state, as his successor – have tended to question the tidiness of the activities by nomadic and less democratic politicians on the promising fortunes and orderly progress of democracy in the country’s Fourth Republic. It’s been argued, by some commentators, that, while instances of alleged injustice, purported lack of internal democracy and unsubstantiated streaks of favouritism by some top policymakers of the APC may have fuelled the spate of defections, that, in itself, was not the right – if progressive – option for the aggrieved members of the APC. But, the flip side of that deposition is that, in theoretical terms, they were adult members of the APC who fanned such obviously fissiparous tendencies, in exercise of their constitutional right of choice of a political party that appealed to them. Still, such nomadic activities are not, in any way strange to politics in Nigeria, except that, taking place, with some frightening rapidity in some crucial states – Ogun, in the South-West geo-political zone, for instance – on the eve of the 2019 general election, such defectors may well be labelled – almost oppositely – as fifth columnists: a group of individuals, who are bent, for clearly selfish reasons, to eat, rather voraciously, by any means necessary, into the electoral blessings of the APC. That much – and a lot more – could be said of such APC members, given that their hasty decisions to defect to other parties was informed by their selfish desires or misplaced perception of they being the naturally-anointed members of the party – and so deserving, implicitly, of the party’s ticket for whatever post they intend to contest in the 2019 general election. It would be recalled that, in Imo State, for instance, the APC’s National Chairman, Comrade Adams Oshiomhole, pressed the cause of

A CALL FOR AGGRIEVED PARTY MEMBERS TO PURSUE THEIR RIGHTS IN THE COURTS SHOULD NOT CREATE ANY CONCERNS FOR THE PARTY, IF ITS LEADERSHIP IS CONFIDENT THAT IT HAD DONE THE RIGHT THING

progressive democracy – to uproarious applause – when in the state’s primaries, he rooted against Okorocha’s intention to build a family dynasty. No real and truly transparent democracy, in the 21st century that is desirous of even and fair distribution of power and resources, and sustainable human development can make any good defence for Okorocha’s botched, undemocratic and selfish move. But while complaints against the manner in which the Oshiomholeled skippers of the APC conducted some of the state primaries raged, President Muhammadu Buhari overruled Oshiomhole, somewhat diplomatically. The aggrieved members of the APC – those of them who perceived the various state primaries as too flawed to have produced the results transmitted to the Independent National Electoral Commission (INEC) regarding the winners – Buhari said, had the right to seek redress in the courts. Buhari should be commended for insisting on due process, transparency, fair play and justice. One of the major criticisms against the parties – across the political terrain – has been the lack of internal democracy. Buhari’s intervention, in sympathy with the aggrieved members of the APC, had a touch of someone with a brimming sense of history: recall that it was for lack of internal democracy, amongst other flaws, that the PDP lost the 2014 election to the APC. It was for the attendant harsh reality of post-elections – of an uncomfortable spell in political Siberia, as it were – that some members of the PDP decamped to the APC. A call for aggrieved party members to pursue their rights in the courts (especially where such members genuinely feel that they have explored all internal mechanisms for redress) should not create any concerns for the party, if its leadership is confident that it had done the right thing. Put differently, as Buhari honestly desires unity and cohesion in the APC, his comment was a statesman-like demarche – more of ‘damage control’ – soon after INEC had frowned on the state primaries. It’s a well-calculated master stroke, to steel Buhari as an individual, who is unswerving in sinking the roots of the country’s democracy. That same comment, this writer believes, was one consistent with Buhari’s informed personal intent to register the promise of “change� from the wrong – if criminal and self-destructive – acts for which the PDP was notorious. It was also a comment, further, that was in tune with the provisions of the constitution. As one commentator said recently, “No Section of the Nigeria’s 1999 Constitution gives power to the NWC of the APC to take away the constitutional right of Nigerians, who are members of the APC to approach any court to address their grievances.� There are two clear messages from Buhari: the one to the APC’s NWC that a visible majority of its members being beneficiaries of due democratic and legal processes could do a lot less with intra-party high-handedness; the other, that there’s a pressing need for the members of the APC, who have defected to return to the family and explore a legal process to right the alleged injustice done to them. Both the party leadership and aggrieved members of the APC would do well to heed Buhari’s fatherly advice. Uzuakpundu, formerly of Daily Times, wrote from Lagos

2019 ELECTION, INEC AND HISTORY

The electoral body should do more to ensure a credible election, writes Ayo Oyoze Baje

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he surging tide of fears and apprehensions by concerned citizens with regard to the possibility of the Prof. Mahmood Yakubu-led Independent National Electoral Commission (INEC) to conduct free, fair and credible elections come 2019 cannot be swept aside with a wave of the hand. The reasons are both profound and obvious. Firstly, if the contentious electoral shenanigans that played out with allegations of vote buying in Ekiti governorship poll and subsequently the use of might-is- right in the re-run governorship election in Osun State are anything to go by, the fears are as real as the wavy lines on our palms. In fact, not a few of the local and international observers, who monitored that election, decried the deployment of the crude instruments of intimidation, hooliganism and outright disfranchisement of some eligible voters. According to the Southwest leadership of the Peoples Democratic Party, (PDP) about 4,387 votes were allegedly removed from the total ballots polled by the party. But that is just part of the cloud of doubts hovering over the next set of elections. For instance, the use of TraderMoni coming on the eve of the general election, as a social intervention fund for the long-neglected marketers is suspicious. Worsening the allegation is the request for the numbers of the beneficiaries’ Permanent Voter Cards (PVCs). This raises some fundamental questions. What is the PVC number for? Also, why should pupils in some public primary schools in Kaduna State requested to fill forms stating similar PVC numbers? How do we also explain or even rationalize the presence of the top army chiefs as the incumbent President Buhari presented his manifesto tagged the ‘Next Level’ in November? That is not

all. Why should the National chairman of PDP, Prince Uche Secondus allege before the European Union (EU), United States (US) and other international agencies that INEC has perfected a rigging arrangement through manipulated card readers and special election result sheets doctored to favour the APC? Is this a possibility? According to INEC’s director of Information and voter education, Oluwole Osaze- Uzzi, the PDP might be lacking the knowledge of how the Smart Card Readers (SCR) works. It cannot be preloaded. Lest we forget, back in 2015 the then opposition party, the APC was alleged by the Directorate of the State Security Services to be attempting to clone some electoral materials. But the party described it all as hogwash, as it accused INEC of a deliberate manipulation of the process to favour the then ruling political party, the PDP. INEC denied such and as fate would have it, PDP lost the presidential contest. Nonetheless, at the heart of heightened tension prior to the general elections is the desperation for political power. This is coming from both the President Muhammadu Buhari-led APC to hang on to power by all means possible as well as the PDP, championed by Atiku Abubakar, its presidential candidate vowing to push his rival out by all the constitutional methods at its disposal. The onus therefore, lies squarely on the shoulders of INEC to discharge its statutory functions to the nation without fear or favour to meet international standards. This is well spelt out in Section15, Part 1of the Third Schedule of the 1999 Constitution (as amended). So it is in Section 2 of the Electoral Act 2010.The subsisting laws empower INEC to conduct elections into elective political offices. These include

executive offices such as that of the president, vice president, governors and their deputy. Also listed are elections into legislative offices such as the Senate and House of Representatives. INEC has the capacity to score the bull’s eye. It is on record, for instance, that specifically in June 1993 the then National Electoral Commission of Nigeria under the Chairmanship of Prof. Humphrey Nwosu gave Nigeria such widely adjudged credible elections. The Commission used the Option A4 voting system and Open Ballot System. Most unfortunately, that milestone election which should have served as a template for subsequent ones was crudely annulled by the IBB-led military junta. The rest, as they say is history. The million-naira question remains and reverberates: Can we have such free, fair and credible elections in 2019? According to a political analyst, Boladale Adekoya in a media chat the signs are not looking bright because there is a general distrust. “Most importantly, there is that feeling that those within the presidency will do everything to hold on to power, most especially with the help of security agencies. So largely, I think the fear of PDP is tangible and should serve as a form of caution to the present INEC Chairman to ensure he doesn’t become partisan while putting to check the elements that played out in Osun State.� This runs against the assurance repeatedly given by President Buhari both to the country and the international community that all would be well. For me, we should give INEC and the president the benefit of doubt. Even then we should learn from the hands of history. So, where did we get it wrong? Put in its proper perspective, while Prof.Maurice Iwu held sway, electoral anomalies such as under-age voting in parts of the north, multiple registration, non-

serialization of ballot papers as well as deliberate delay in the display of the voter register took the centre stage especially in the 2007 polls. Indeed, so questionable was the outcome of the polls that the independent observers of the election and the international community cried blue murder. There were reported incidents of the carting away of electoral materials between Abuja and Kogi State. The same sad scenario played itself out in parts of Delta State. INEC worsened matters by the controversial disqualification of candidates who refused to appear before its screening committee. That was contrary to Section 32(1-5) of the former Electoral Act 2006. Matters got to an ugly head on the day of the election when some eligible voters could not locate their names on the voter register and were therefore, disenfranchised. Some candidates’ names, party logos and photographs were missing from the ballot papers. There were several reported incidents of mishandling of logistics characterized by late arrival of electoral materials, even keeping the voters waiting till 2.00pm for accreditation to commence! In addition to multiple thumb printing by paid fraudsters, snatching of ballot boxes with some top government functionaries involved went on with spree. Yet, announcement of results took place in Abuja instead of the state capitals in clear violation of the Electoral Act. Between then and now, the Prof. Attahiru Jega-led INEC made some positive input with electronic voting and the use of PVC. The same eyes of history are currently riveted on the Prof. Yakubu-led INEC to overcome the challenges of the power of incumbency, under-age voting, vote-buying and undue influence of security forces. Will he succeed?

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EDITORIAL Fire And The Harmattan Season There is need to invest more in safety equipment

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he Harmattan haze has announced its arrival and is gradually creeping and putting people and businesses at the risk of fire disasters across the country. Already, cases of fire outbreaks caused by the dry and dusty wind are becoming widespread, with the attendant losses. And since human and material toll from fire outbreaks are getting increasingly high, we call on both the government and the public to embrace safety measures that will mitigate these avoidable losses. So much devastation was wreaked in recent weeks when assets and goods running into billions of naira were lost to fire that razed shops in Kano, Kebbi and Anambra States. Yet there are several of such cases that are not reported. Given its character as an extremely dry wind that originates in the Sahara, it is easy for fire to spread at the slightest ignition when the harmattan blows south wards, spreading its tentacles across the western coast. Fire occurrences linked to weather have in recent years become a global crisis. The only problem is that it is not an issue that the authorities and critical stakeholders in our THE RELEVANT country pay attention AUTHORITIES SHOULD to. Yet, a relevant case study which WORK AGAINST should serve as an INDISCRIMINATELY eye opener of this SITUATING PETROL danger and what it is STATIONS TOO CLOSE capable of inflicting TO RESIDENTIAL is the California APARTMENTS wildfire. Although a perennial problem, the scale of the outbreak this year is considered the most devastating in California’s history. Beside the over 600 people declared missing and 63 confirmed dead, the cost of putting out the inferno is staggering. More than 5,600 firefighters were mobilised, with 23 helicopters in the air while 630 fire engines were on the ground. The fire has burned 138,000 acres of land and took weeks to contain.

Letters to the Editor

The California fire, sparked by strong winds and lingering drought, has reduced many of the affected towns to ashes and destroyed more than 10,000 homes and businesses. But the firm responses by associated agencies to the challenges emanating from the humanitarian crisis should serve as a wake-up call for authorities in this part of the world on how to handle disasters of similar scope.

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

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

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

HABIBAT DEEN AS A SOCIAL DEMOCRAT

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he problem of our politics is the foundation. The foundation of our politics is generally defective as it is based on politics without principles, direction and ethos. Today, we now have a political amazon that understands the defectiveness of the very foundation of our politics and democracy which has not been able to give the people results that translates to dividends. Mrs.Habibat Deen is a politician that understands and have a strong position on virtually every issue that defies our political advancement as a people. Her victory at the PDP primaries was not a fluke but a confirmation of a fact: that the people have come to realize and imbibe the message of change which emphasizes a fresh start and new type of politics philosophies. Her positions emphasizes the economics, the environment, transparency in government, foreign policies, national security, social issues, agriculture and most importantly education. Habibat is a self-styled democratic socialist and a new deal era-Nigerian progressive who is pro- labour and emphasises reduction of economic inequality. She described herself often as a democratic socialist and an admirer of aspects of social democracy as practiced in some Scandinavian countries. Habibat identifies her conception of democratic socialism which stipulates creating an economy that works for the benefit of all,

iven that private and public businesses, schools, hospitals and homes are susceptible to fire-related disaster at this time when dry wind tends to elevate the severity of combustion, we question the readiness of our disaster response agencies, particularly our fire fighter, to such tragedies. Combating fire disaster in the harmattan season is a task that usually exposes the ill-preparedness of the fire fighters and the country’s poor firefighting equipment. Usually their vehicles are without water to quench fire while they are always shorn of funds to upgrade their obsolete equipment. Meanwhile, there are standard safety measures we must begin to enforce. The relevant authorities should work against indiscriminately situating petrol stations too close to residential apartments. This is becoming all too common in our country. In addition, corporate bodies and individuals must also invest in safety equipment and measures to forestall fire outbreaks. Business and property owners must inculcate the culture of subscribing to insurance and indemnities that cover their homes, property, personal effects and businesses as this will minimise losses in the event of a fire outbreak or other natural disasters. In the same vein, they should avoid overloading electrical sockets or outlets with a lot of appliances at the same time to prevent sparks that may lead to fire. They must also routinely train their staff on comprehensive fire emergency evacuation procedures. These and other measures are important to guard against avoidable losses arising from the rage of nature like harmattan fire.

not just the very wealthy in the society, reforming the political systems which she states is grossly unfair in many respects and corrupt, recognises health care and education as rights, protecting the environment and creating a vibrant democracy that recognises the people first as cornerstone of development. She advocates a democratic socialism that is not tied to marxism or the abolition of capitalism, it instead describes a programme of extensive social benefits funded by the governments. Habiba is a social democrat and not a democratic socialist, and the two ideologies are fundamentally different from each other. Social democracy does not mean the abolition of capitalism but support for a mixed economy, combining private enterprise with government spending, social insurance programmes, Keynesian macroeconomics policies, and democratic participation in government and in the work places- all of which are parts of her platforms. She sees the House of Representatives which she is aspiring to be a member to represent the good people of Ankpa Omala Olamaboro federal constituency as a market place to debate our nation’s developments and growth, her security, environment and the economy. She has a visionary grasp of how for too long the politics of fear, secrecy, cronyism, and blind faith has combined with the degrading of the public sphere to create an environment dangerously hostile to the voice of reasons. .Isah Abbas Ankpa, Kogi State

LADO SULEJA: MAN OF THE MASSES

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lhaji Lado Suleja, who represents Suleja Constituency in the House of Representatives, is without doubt a politician with pedigree. Being privileged to be in his campaign team on the day I visited his Constituency Office recently, I witnessed firsthand how people poured encomiums on him to no end; evidence of his sterling service to the people. He soon quietly receded to his private office. But despite the mammoth crowd, I was astonished that no security operatives were around him. He later waddled through the same crowd to observe his prayers despite his very busy schedule. It was a lesson for me that whatever we do in life, we must endeavour to put God first. But it was a testimony to the fact that Hon Suleja is a true Muslim whose faith in Allah is unshakeable. In my view, he set himself apart as a man who would not allow his job block the path to his creator. Alhaji Suleja has impacted on his constituency in no small measure. In the area of education, he gave free exercise books, mathematical sets, uniform and sandals to pupils in the public schools in Suleja Local

Government and its environs. In the provision of basic infrastructure, the unanimous view is that he has surpassed expectations of the people. Little wonder, he has earned the nickname Mutum mai Jama’a or Man of the masses. He has provided boreholes, street lights, potable water, as well as giving cash donation to widows, among other people-oriented programmes. He empowered youth in the constituency with the donation of tricycles, bicycles and other valuable materials that could guarantee their financial independence. In the area of advocacy, he tried his best to organise series of seminars for the youth, aimed at encouraging them to shun violence and embrace peace, having made them understand that only in the environment of peace and harmony would there be meaningful development. Hon Suleja is widely believed to have worked himself to easy re-election in the 2019 election and I have no doubt he would sail through any opposition in the constituency to continue his giant strides. There popular saying, one good term deserves another, suits the man of the masses. Anjorin Adeolu Joseph, Abuja

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Group Politics Editor NSEOBONG OKON-EKONG

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

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

Flashpoints Ahead of a Bumpy Election Year Nseobong Okon-Ekong and Ojo Maduekwe write that aside the issues that are pointers to a likely flawed 2019 elections, there are also flashpoint states which if left unchecked could lead to a breakdown of law and order

Buhari

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he 2019 general election is expected to be the most disorganised and flawed since Nigeria’s return to democracy in 1999, a drawback to the electoral reforms recorded by past governments up to 2015. Concern keeps piling up that the All Progressives Congress (APC), which is rounding up its first term after defeating the Peoples Democratic Party (PDP) in 2015, does not intend to relinquish power soon. The United States Institute of Peace (USIP) electoral violence risk assessment on Nigeria, alleges that the APC may use “intimidating tactics� to shore up the votes, as well as to “deter large turn-out of electorate in the opposition strongholds.� Even the APC leader and Nigeria’s president, Muhammadu Buhari, who prior to his election in 2015 was alleged to have brokered a gentleman’s agreement to do only a term, has since reneged. As the party’s 2019 presidential candidate, he is now running for his second term.

Yakubu

Oshiomhole

Secondus

Following what critics say are its failures to secure the country, revive the economy and uplift millions of Nigerians out of poverty, the popularity of the APC, as well as Buhari’s, that saw a bewildered populace buy into the party’s change promises in the 2015 elections has since dipped. After the recent claim by the National Bureau of Statistics (NBS) that it was lacking funds to update the unemployment data, critics of Buhari worry that the unemployment figures might now be higher than the 18.8 per cent rate that was last released by the NBS in the third quarter of 2017. They allege that the figures may have ballooned to a point that the APC-led government, worried that it might be used by the PDP to campaign against them ahead of next year ’s election, has refused to fund the NBS. Ranked as the poverty capital of the world, with 86.9 million Nigerians (this figure represents nearly 50 per cent of Nigeria’s estimated 180 million population) now living in extreme poverty. Last week Wednesday the Global

Terrorism Index (GTI) in its 2018 ranking on terrorism, ranked Nigeria, for the fourth consecutive year since 2015, third position among countries worst hit by terrorism. The activities of Boko Haram and the Fulani militia have been blamed for this ranking. In responding to this dwindling fortune, Buhari and the APC claim that a single tenure of four years is not enough to deliver the change they promised Nigerians during campaign in 2015. They are now promising anew to “consolidate� their “achievements� in the next four years. Delivering his speech at the launch of his ‘Next Level’ campaign ahead of the 2019 elections, Buhari said his government, over the last three and a half years, had laid the foundation for a “strong, stable and prosperous� Nigeria, and needed four extra years to take it to the next level. Worried of the possibility of voterapathy, Buhari and the APC are pulling all the stops and taking no chances. Their actions have been interpreted by the PDP as an attempt to rig the election.

On more than three occasions, the opposition PDP through its national chairman, Uche Secondus, has expressed concern that the elections might not be free and fair, alleging that “INEC will rig the elections�. The USIP had stated that according to several Nigerians they spoke to during the conduct of their research, there were fears that “any regression from the level of performance achieved by INEC in 2015... would be viewed... as deliberate attempts to frustrate the will of the voters.� Critics of the president have stated some of the issues which they claim are pointers that the APC government intends to compromise the election. Also there are states which they say are flashpoints to watch out for, and which they suspect the APC would take advantage of. According to USIP, “states such as Adamawa, Anambra, Ekiti, Kaduna, Kano, Lagos, Plateau, and Rivers are of greater risks of election violence.� Investigation by THISDAY, following the running internal crises generated by the controversial nationwide party

‘Security Agents Should Know They May be Held Accountable’ Mr. Gbenga Olawepo-Hashim, presidential candidate of the Peoples Trust says political parties and candidates should publicly commit to peaceful elections by singing a joint declaration What are the security concerns bothering you in the 2019 elections? Boko Haram resurgence, incipient Shiite rebellion due to high handedness, bloodletting by murderous, raiders in the Middle Belt, activities of armed terrorists groups in North west Nigeria, and the likelihood of politicising the security agencies as we

QUICK FACTS: r 5IF 6OJUFE 4UBUFT *OTUJUVUF PG 1FBDF (USIP) electoral violence risk assessment on Nigeria, alleges that the APC may use “intimidating tactics� to shore up the votes, as well as to “deter large turn-out of electorate in the opposition strongholds.� r'BJMVSF UP TFDVSF UIF DPVOUSZ SFWJWF the economy and uplift millions of Nigerians out of poverty has led to a dip in the popularity of the APC, as well as Buhari r/JHFSJB JT SBOLFE BT UIF QPWFSUZ capital of the world, with 86.9 million

approach the elections.

publicly make a statement that security officials are enjoined to discharge their duties impartially without favoring any political party.

and Lagos.

What part should political parties play in ensuring conduct of peaceful elections? Parties and candidates should publicly commit to peaceful elections by singing a joint declaration. The President should

In what state(s) do you anticipate worrisome infractions during the election? Kano, Kaduna, Borno, Yobe, Bauchi, Benue

Can you vouch for the impartiality of security agencies? They can be impartial if they want to be. They need to know that they may be held accountable for their actions at anytime even after the tenure of the incumbent.

Nigerians (this figure represents nearly 50 per cent of Nigeria’s estimated 180 million population) now living in extreme poverty r5IF (MPCBM 5FSSPSJTN *OEFY (5* JO JUT 2018 ranking on terrorism, ranked Nigeria, for the fourth consecutive year since 2015, third position among countries worst hit by terrorism. The activities of Boko Haram and the Fulani militia have been blamed for this ranking r#VIBSJ BOE UIF "1$ DMBJN UIBU B TJOHMF tenure of four years is not enough to deliver the change they promised Nigerians during campaign in 2015. They are now promising anew to “consolidate� their “achievements� in the next four years r1PTTJCJMJUZ PG WPUFS BQBUIZ GSPN UIF

millions of Nigerians, Buhari and the APC are pulling all the stops and taking no chances. Their actions have been interpreted by the PDP as an attempt to rig the election r0O NPSF UIBO UISFF PDDBTJPOT UIF opposition PDP through its national chairman, Uche Secondus, has expressed concern that the elections might not be free and fair r"DDPSEJOH UP 64*1 iTUBUFT TVDI BT Adamawa, Anambra, Ekiti, Kaduna, Kano, Lagos, Plateau, and Rivers are of greater risks of election violence.� r*OWFTUJHBUJPO CZ 5)*4%": GPMMPXJOH the running internal crises generated by the controversial nationwide party

primaries conducted by the APC, have included the following states as part of the flashpoints to watch out for: Akwa Ibom, Delta, Imo, Kwara, Kogi, Sokoto, Yobe and Benue r0OF PG UIF JTTVFT UIBU BSF MJLFMZ QPJOUers to the APC plans to rig the elections is Buhari’s refusal to assent the 2018 Electoral Amendment bill passed by the National Assembly for the fourth time r"OPUIFS JTTVF PCTFSWFST DMBJN BT proof the APC was gearing to rig the 2019 elections is the partisanship exhibited by the security agencies during the conduct of recent elections such as the 2018 Ekiti and Osun gubernatorial elections and by-elections in Kwara and Bauchi

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Amosun

Okorocha

primaries conducted by the APC, have included the following states as part of the flashpoints to watch out for: Akwa Ibom, Delta, Imo, Kwara, Kogi, Sokoto, Yobe and Benue. One of the issues that are likely pointers the APC plans to rig the elections is Buhari’s refusal to assent the 2018 Electoral Amendment bill passed by the National Assembly for the fourth time. There are reports that the “closeness� of the 2019 elections and the “need not to cause confusion as regards the provisions of the law� regarding the elections, are reasons why Buhari rejected the bill this time. For the three times he had rejected it, there was never a time the president cited closeness to next year ’s elections as reasons for not assenting, which is why observers believe that his refusal again to sign had always been because he fears an amendment bill will mean he loses reelection. Few days before Buhari’s refusal to assent the bill, opposition political parties under the Coalition of United Political Parties (CUPP), had alleged that he was refusing to sign because of a “hidden agenda�. A source who spoke to THISDAY last week says the president was uncomfortable with the insertion of a clause in the bill which allows for the use of smart card readers, arguing that that section, which provides for the transmission of counted votes from the ward level to the state level, could be a great impediment to rigging and other electoral frauds. There are insinuations that Buhari

does not want the use of card readers for the elections, but rather that incident forms be used instead, because most of his supporters in the northern part of the country are underage and legally barred from voting. Critics of the president who make this allegation say that he knows a card reader would recognise this flaw. Another issue observers claim as proof the APC was gearing to rig the 2019 elections is the partisanship so far exhibited by the security agencies during the conduct of recent elections such as the 2018 Ekiti and Osun gubernatorial elections and by-elections in Kwara and Bauchi. In Osun, during the controversial rerun election, the Nigerian media had made a detailed report of how security agencies in cohort with thugs belonging to the ruling APC in the state, providing them cover, had intimidated voters and denied them from voting. This took place in areas of the state said to be strongholds of the PDP. These issues aside, the flashpoint states also pose a serious threat to the free and fair conduct of next year ’s elections. In Akwa Ibom for instance, the APC’s Pointsman, Senator Godswill Akpabio, said to be under pressure to deliver, is bent on justifying his defection to the ruling party. Akpabio has been fingered as the mastermind behind the recent invasion by thugs belonging to the APC young wing in the state, backed by former members of the state House of Assembly in cohort with the police. It is alleged that one of the conditions

given to Akpabio to avoid prosecution by the Economic and Financial Crimes Commission (EFCC) by defecting to the APC is that he must deliver Akwa Ibom to the APC. Under pressure, he’s resorted to every imaginable tactics, including violence. In Rivers state, the immediate past governor and now transportation minister, Rotimi Amaechi, hopes to correct the impression that his failure to deliver the APC’s candidate in the 2015 governorship election was due to the “federal might� factor and not because he was incapable. During next year ’s elections, observers believe he will stop at nothing to ensure the APC wins majority of the elections holding in the state, if not all. The controversial APC party primaries produced three disgruntled states, two of which are potential flashpoints, namely Ogun and Imo. The governors of these states, Ibikunle Amosun and Rochas Okorocha, in retaliation for the defeat they suffered in not having their chosen candidates emerge as the APC’s gubernatorial candidate in their states, have vowed to work against their party’s governorship candidate in 2019. Delta is another flashpoint that causes concern, with the likes of Senator Ovie Omo-Agege and the Great Ogboru who is the gubernatorial flagbearer for the APC in the state. There are fears that Ogboru, who has been trying for years to be governor, would stop at nothing to get elected this time and hopes to deplore “federal might� to realise this ambition. Moving up north to Sokoto state,

there are concerns that a battle between the incumbent governor, Aminu Tambuwal against two of his predecessors, namely Attahiru Bafarawa and Aliyu Wamakko, with the collaboration of a host of APC state and federal members would be tough as both Bafarawa and Wamakko would like to justify their defection to the APC. Recently, developments from Benue has been quiet, but the state remains a flashpoint for the 2019 elections, as the threat posed by members of the Miyetti Allah, an umbrella organisation for the Fulani ethnic group remain. Members of the organisation are alleged to still occupy communities and farms in Benue after driving the original indigenes away. In Kwara it will be a tough battle. The APC national chairman, Oshiomhole and the APC leader and former Lagos state governor, Bola Tinubu are determined that the Bukola Saraki political dynasty crumbles. Following the recently held Kwara by-election where the ruling PDP in the state suffered a humiliating loss to the APC, Oshiomhole said that he was happy that Saraki suffered a “humiliating defeat� and that the Kwara people were “determined to dismantle� the senate president’s structure. With the spade of political instability across the country, and the internal crisis in the APC escalating in the weeks leading to the elections, there are concerns that this could threaten Nigeria’s democracy; and that the APC-led government failures will only aggravate the problem.

‘Politicians Have Weaponised Poverty’ Mr. Iboro Otu, Akwa Ibom State governorship candidate of the Abundant Nigeria Renewal Party addresses security concerns in the 2019 general elections Why do you think members of the public allow themselves to be used by politicians to cause mayhem? I don’t think any right thinking person, who has a job, food to eat and a future, would allow themselves to be so cheaply used in causing mayhem. I strongly believe these paid hands are hungry jobless miscreants – ironically stymied by same politicians - whose only avenue of making money is by presenting themselves as tools and agents of destruction. Certain people in certain quarters believe when youths are kept unemployed and hungry, they’ll do any bidding of theirs. Such myopic and self-destructive patterns have existed over the years. Our present crop of politicians, sadly, have weaponised poverty. They have designed a formula where our youths believe when you do the bidding of politicians, you stand a chance of getting political relevance. This is how most

make one correct sentence.

Otu

of the present crop of political leaders rose. This is also why you notice they are bereft of ideas and can’t even

If politicians love the people, why do they mastermind destruction of lives and property? Our politicians don’t love our people; they love themselves and use our people to achieve their aims. And even at that, I strongly doubt they love themselves at all when I look at the actions they stand behind. No one has monopoly over violence. History can tell us events that start big wars and even the Arab spring were not tectonic events but little impunity taken too far. This is why I often ask, do these politicians know what they are doing when they take hungry people and arm them? Many local governments are ungovernable and inaccessible to both our state government and security services, how did this come about? Where did these guys get the weapons? These are serious questions that need to be addressed.

We are beginning to see states like Akwa Ibom were once generally acknowledged as peaceful, showing signs of becoming a flash point in the 2019 elections, what is responsible for this? These are signs of chickens coming home to roost. This stage was set many years ago when a government come to power and setup up a reward system where political thugs and minions were rewarded with power. Two things happened; the thugs bred more thugs; and upcoming youths saw thuggery as a way to political relevance and prosperity, and thus were negatively inspired. What happened afterwards was a proliferation of pitiable scenes where young people would gather every morning from Monday to Sunday in parlours and joints, waiting for political godfathers to stop by so they could sing praises and get raises.

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FEATURES

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

Struggle to Save Igbo Language from Extinction David-Chyddy Eleke examines how the 2011 UNESCO prediction of Igbo language going extinct by 2050 has spurred groups and individuals to sit up and take preventive action

Some Igbo elders at the Igboekulie event in Anambra State

S

ometime in 2011, the United Nations Educational, Scientific and Cultural Organisation (UNESCO), an organ of the UN had predicted that some languages may go into extinction before the year 2050. This may be because of the dominance of other more widely spoken languages over them. Igbo language was listed as one of those that may possibly be phased out by then. The prediction did not look like a fake one because most Igbo families, even though they reside in Igbo land do not speak the language, fueling the fear that truly, before long, the language may be a forgotten one. The fear of this reality has caused groups and even some government actors to give Igbo Language support, organising programmes that will help young people take interest in it. Among these groups is Igboekulie, a socio cultural interest group of the Igbos that champions the cause of the people of the area. Led by Prince Ben Onuorah, Igboekulie does not only support the language but also helps to bring to the front burner issue bothering the people of the area, be it politics, religion, culture and others. But Igboekulie is not alone in this as the Anambra State Government has also been working assiduously to ensure the sustainability of not just the language but tradition, culture and norms, with which the Igbo people are associated.

Propagating Igbo Language President, Igboekulie, Prince Onuorah who spoke to THISDAY during a recent event tagged; Asusu Igbo Amaka (Igbo language is good), which was put together by his group to reward secondary school students who did well in the language said the group was working hard to forestall the UNESCO prediction. This year's Asusu Igbo Amaka, which held in Awka, rewarded a total of six students who scored best grades in this year's secondary school certificate examination. Onuorah said, "We are motivated by the need to encourage our students to see Igbo language as not inferior to other subjects where prizes are regularly given to winners. "We are motivated by the need to have more competent speakers of our language, especially among children and youths. We are motivated by the desire to have more Igbo teachers and a

lot of more Igbo language teachers, and more books published in Igbo language. "Above all, we are motivated by a compelling determination to ensure that Igbo language does not go extinct or die as predicted by the UNESCO. We will continue to support the speaking of Igbo language, to ensure that the prediction does not come to pass."

Winners Incidentally too, this year's event had all six winners from the state and national category as Anambra State indigenes. Kingsley Nwafor, Adannaya Ezeh and Chinecherem Ike who emerged as winners in the state category all hail from Anambra and studied at St Joseph High School, Umuona, Aguata Local Government Area, while in the national category, Chinemelum Nwosu who emerged as the overall best student in the nation, Adaobi Okeke and Kenechukwu Anyichie emerged as the first and second runners up, though from Anambra, were students of Sacred Heart College, Uwani, Enugu. Teachers from both schools were also presented with cash gifts for their role in ensuring that students of their school came tops in the competition. Onuorah explained that data determining

We are motivated by the need to encourage our students to see Igbo language as not inferior to other subjects where prizes are regularly given to winners...We are motivated by the desire to have more Igbo teachers and a lot of more Igbo language teachers, and more books published in Igbo language

PHOTO: GOOGLE the winning students was supplied by the West African Examination Council, WAEC, which is in partnership with the organisation. He added that the need to reward the teachers were also thought up because, without them, the students would not have been very good in the subject.

Incentives by Anambra State Government On the other hand, Anambra State Government in their quest to promote the language and save it from extinction, the state governor, Chief Willie Obiano, had during his assumption of office announced some incentives for some categories of teachers too boast their efforts and promote learning in the state. Some of them included teachers in far flung riverine communities where teachers dreaded to be posted, teachers of core science subject and also teachers of Igbo language, who receive additional 30per cent atop their monthly salaries. Principal Secretary to the governor, Sir Willie Nwokoye, who represented Obiano at the event said, the governor has been very proactive in matters that concern the study of Igbo language, and has diligently paid all incentives promised the teachers, adding that such gesture has in turn impacted on the learning of Igbo language in the state. He said "Of course, you know that Anambra is the only state where teachers of basic science subjects, and Igbo language are paid higher salaries as incentives. In Anambra too, you know that Wednesdays have been marked as days when we speak only Igbo languages, both in schools, government establishments and others. Even Igbo traditional attires are the only acceptable form of dressing on those days, so you can see that we have done all that we can to ensure the preservation of the Igbo language, here in Anambra." This year's event featured a lecture from Dr. Ngozi Emeka-Nwobia, the head of department, Language and Linguistics, Ebonyi State University, who spoke on the topic 'keeping Igbo language' relevant in our modern and technology driven world. She told the secondary school students who formed a better percentage of the guest, and other guests too that she has as an Igbo teacher, speaker and enthusiast achieved more that teachers of subjects which were deemed to be more important. "I have travelled round the

President of Igboekulie, Prince Ben Onuorah world, courtesy of the opportunity granted me by virtue of being an Igbo language teacher. I have presented papers in very prestigious places and met very important people. "If anyone tells you that you can not go far by studying Igbo language, tell them it's a lie. I have students who gained admission the same year in our university, and one shouted God forbid when she was asked if she would like to study Igbo language, but years after graduation, the Igbo language graduates have long secured employment, because a lot of opportunities abound in the area and there are only few people in the field, but those who studied other courses enter into competition on how to secure a job", she said. The event ended, leaving students feeling high about the language, but the high point of their feeling was when the winners were called up to the podium and rewarded with various cash prizes, plaques and executive handshakes with dignitaries while their parents watched on. A senior secondary one student of St John Secondary School, Miss Nneamaka Uzoma told THISDAY that, "this event has changed the way I see people who speak Igbo language. Before now, used to think its a sign that one was not brilliant to speak Igbo, but now I know it is not true."

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FEATURES

Promoting Occupational Health Safety for Female Journalists In partnership with Ethnic Heritage Centre, FRLP Fellow and female journalist with THISDAY Newspaper, Yinka Freda Olatunbosun, recently organised a seminar on occupational health and safety seminar,especially targeted at female journalists. Sunday Ehigiator reports

T

here can never be too many seminars highlighting the importance of female journalists to stay safe, all the more so as they are often subjected to unending harassment and other grave dangers in their work places. The opinion of Abeer Saady, former vice president of the Egyptian Press Syndicate, and safety trainer, whose experience as a correspondent covering conflict zones, as well as domestic hazards, speaks volume. In one of her handbooks entitled ‘The Third Gender’, she wrote that “women journalists wage a war on two fronts: the war to survive, and the war against the system, as they are under pressure to prove themselves, which may subject them to greater danger�. Saady’s advice to women starting off in journalism is “never endanger yourself physically or mentally, to prove anything to anyone,� adding that, she realised that after five personal injuries, losing colleagues, and suffering trauma. It was with the view of sensitising female journalists on ways to mitigate against some professional hazards and risk associated with the journalism profession, that Female Reporters Leadership Programme (FRLP) Fellow, an initiative of the Wole Soyinka Centre for Investigative Journalism and Free Press Unlimited and female journalist with THISDAY Newspaper, Olatunbosun Yinka Freda, in partnership with Ethnic Heritage Centre, recently organised a seminar on occupational health and safety seminar, especially targeted at female journalists.

A cross-section of participants at the seminar on occupational health and safety for female journalists in Lagos

Safety in the Newsroom In her introductory remarks, Olatunbosun said: “In the words of William Wordsworth, 'In ourselves our safety must be sought, by our own right hand it must be wrought'. With that, I welcome you to a much-trumpeted seminar on occupational health and safety for female journalists in our organisation. "I chose to limit this newsroom project to the women journalists not because our subject excludes the male. I prioritise the women in my organisation because women by tradition are vested with the role of keeping children and the home safe. "In recent years, there has been an increase in the number of nursing mothers at THISDAY. Many women have to juggle their roles as mothers, wives and substitute mothers with their editorial responsibilities. Sadly, the issue of our collective health and safety had not been a subject for formal conversation like this because a deluge of other issues have eroded our zest for punctuality at the newsroom, team spirit and strategic newsroom projects. "Our occupational health and safety is a serious concern judging by the rising reported cases of mental health disorders, lifestyle related illnesses and premature deaths. As clichĂŠ as it may sound, we are in a profession that is rated as one of the most dangerous in the world. "In addition, the risks of getting to work safe has become higher with the continuous blockage of all major routes leading to Apapa by articulated truck drivers, turning a once-beautiful town into a nightmare and what the philosopher Thomas Hobbes would call 'a state of war' in which life is 'solitary, poor, nasty, brutish and short'. In this state of war, nothing is wrong, nothing is unjust. "As you may know, this seminar is a newsroom project I designed in partial fulfillment of the requirements for all fellows of the Female Reporters Leadership Programme, an initiative of the Wole Soyinka Centre for Investigative Journalism and Free Press Unlimited. If anyone had woken me up earlier this year to tell me that in November, I would be organising a seminar, I would have responded 'dream on'. "This fellowship has opened my eyes to the possibilities out of an almost impossible situation. The fellowship has served as an indispensable support system with its assemblage of resultdriven mentors who refined us using kind words, sound knowledge of the media industry and professional nudge which manifested in different forms such as surprise phone calls and

FRLP 2018 Fellow, Yinka Olatunbosun (THISDAY) and the Chair, National Association of Women Journalists, Lagos Branch, Alh. Sekinat Lawal light-hearted conversations during residency.

Challenges On the challenges faced she said: "The whole story of my becoming a fellow working on a newsroom project in THISDAY will be incomplete without the mention of some of the challenges I encountered in and out of the newsroom. "I met with lazy pessimism, mockery and short-sighted comments which, ironically, did not deplete my level of confidence but activated an under-utilised chunk of my thinking faculty. "Initially, this newsroom project was conceived as one that should be domiciled in the THISDAY physical building. But with wide consultations, I discovered that impact does not necessarily require a physical environment. The previous

Our occupational health and safety is a serious concern judging by the rising reported cases of mental health disorders, lifestyle related illnesses and premature deaths. As clichĂŠ as it may sound, we are in a profession that is rated as one of the most dangerous in the world

Sanni Abdulmumuni from the Nigerian Red Cross Society demonstrates some basic First Aid training for female journalists at the Ethnic Heritage Centre

plan to hold this seminar at THISDAY office in Apapa would have launched us all into some irksome journey with the risk of it being counterproductive. So I sought partnership with the Ethnic Heritage Centre to provide a mini-retreat ambiance for our well-being."

Credits "I cannot possibly take credit for the planning and execution of this seminar. I want to thank the Chairman, THISDAY Newspapers for building a reputable brand that has opened doors of opportunities for us all. I want to express my gratitude to the Managing Director, Mr. Eniola Bello for his quick approval of this project. "I am immensely grateful to our editor, Mr. Bolaji Adebiyi, for his professionalism governed by sound judgment; Ms Chiemelie Ezeobi, our Group Features Editor, for her patience as I had missed deadlines occasionally while working on my project story and seminar. I am particularly thankful to my mentor for life and friend, Mr Nseobong Okon-Ekong who inspite of his busy political calendar as Group Politics Editor, demanded excellence in every step of curating this newsroom project. "I appreciate the goodwill messages from Mr. Kunle Adewale, Ms. Funke Olaode, Mr. Charles Ajunwa, Ms Rebecca Ejifoma, Ms Evelyn Osagie and Ms Margaret Mwantok. I am indebted to Ms. Funke Aboyade for grooming me to be a journalist and believing in me. "To my resource persons, I want to thank you for your selfless service and commitment to this programme. I am indebted to the management of Ethnic Heritage Centre who made the space available for free for ease of commuting on such short notice. I thank all my supportive mentors as well as my fellow fellows. I hope you do enjoy the seminar, thank you".

Threats against Female Journalists In her presentation, a Health and Safety Environment Professional, Olasunmbo Olajubu, highlighted the various threats against female journalists, positing that they face twice the threats as faced by their male counterparts. Olajubu cited the assault and murder of Bulgarian journalist Viktoria Marinova and the recent deaths of female journalists all over the world as proof of the dangers female journalists have to face every day, stating that sexual harassment remains another key issue. However, she pointed out precautions every female journalist should adhere to which ranges from cultivating actions and habits that would ensure their safety while working, stressing that, “decent dressing is as an important step in escaping such dangers�.

Need to do Better In her opinion, President, Nigerian Association of Women Journalists (NAWOJ), Alhaja Sekinah Lawal said, the stress of working as a female journalist and the rush to meet deadlines has led to recent loss of lives, especially pregnant women, during delivery. She added that the pressure to meet-up and be at par with the menfolk in the journalism career eventually leads to poor health, and called for better treatment of the female journalists and conducive environment, without discrimination for them to thrive. One of the highlights of the event was when Evelyn Osagie, a respected journalist, and celebrated performance poet, stage named Evelyn D'Poet, echoed the message of the seminar with an impactful performance; urging women to rise above the abuse they suffer. Also giving practical simulations was a Red Cross official, who showed all present safety tips and precautions to take when facing certain situations.

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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 Deputy Speaker, House of Assembly,Hon Toun Adediran; Chairman Lagos Mainland Local government, Hon Rashidat Omolola Essen,and Lagos Central Senatorial District Representatives,Senator Oluremi Tinubu,during the oďŹƒcial commissioning of Senator Oluremi Tinubu Capacity Development Centre for skill Acquisition at Lagos Mainland pry school, Apapa Road .Lagos...recently

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L-R; Chairman, Lagos State Chapter, Nigerian Institute of Public Relations, Mr. Olusegun Mcmedal; Key Speaker, Ceo/Lead Consultant, Ladybird Limited, Mrs. Bunmi Oke; Managing Director, Modion Communications, Mr. Odion Aleobua; Chairman, Photojournalists Association of Nigeria (PJAN), Mr. Demola Akinlabi and Director, Public Aairs, Lagos State Ministry of Education, Mr. Adesegun Ogundeji, during the presentation of Award to Mr. Odion Aleobua, during the PJAN 2018 Annual Conference, entitled: the impact of Photojournalism on brand building; The Corporate Communications Perspective, by the PJAN, in Lagos...recently

L-R; Retail Cluster Head, Wuse & Garki, First City Monument Bank (FCMB), Mr. Mohammed Ojibara; Manager, National Lottery Regulatory Commission (NLRC), Mr. Malachi Oahimire; the winner of star prize of N2million at the grand ďŹ nale of the ‘’FCMB Millionaire Promo Season 5’’ in Abuja & North Region, Hajia Idi Awawu; Regional Head, Abuja & North of the Bank, Mr. Lukman Mustapha and another oďŹƒcial of the NLRC, Mrs. Ebele Nwokoye, during the cheque presentation to the winner in Abuja...recently

L-R: Managing Director, Energia Limited, Engr. Leste Aihevba; Chairman, Energia Limited Board of Directors, Mr. Geroge Osahon; Representative of Zonal Controller, Department of Petroleum Resources, Mrs. Adaeze Moedu; President General, Ebendo Community, Mr. Friday Ozobeme; Commissioner for Oil and Gas Delta State, Hon. Freeman Fregene and General Manager, External Relations, Oando Energy Resources, Mr. Kofo Tunji-Olagunju, during the commissioning of the newly built housing estate in Emu-Ebendo, Delta State...recently

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BUSINESSWORLD R A T E S MONEY MARKET OVERNIGHT OBB

A S

A T

REPO 26.08 % 24.33%

CALL 1-MONTH 3-MONTH

27.50% 20.50 % 20.63%

D E C E M B E R S & P INDEX INDEX LEVEL 1-DAY MONTH-TO-DATE

349.48% 0.13% 0.01%

Group Business Editor Obinna Chima

Email obinna.chima@thisdaylive.com 08024557078, 08152447875

7 , 2 0 1 8 S & P INDEX 1/4 TO DATE YEAR TO DATE

0.63% 6.07%

EXCHANGE RATE N306.85/1US DOLLAR* *AS AT LAST FRIDAY

Quick Takes Diamond Bank Rewards More Customers

STAKEHOLDERS’ ENGAGEMENT

L-R: Chairman, Chartered Institute of Bankers of Nigeria (CIBN) Enugu State, Mr. Cyprian Ezeagu; President/Chairman of Council, Dr. Uche Olowu; Acting Enugu Branch Controller, Central Bank of Nigeria (CBN), Mr. N. Kanu and Assistant Director, CBN Enugu, Mr. A. Asamor, during a stakeholders’ engagement with the central bank in Enugu‌recently

NNPC Accounts: Insurers Cautioned against Misconduct Ebere Nwoji As the bidding process for the underwriting of the Nigerian National Petroleum Corporation (NNPC) business for the 2018/2019 financial year commences, insurance underwriters and brokers have been advised to seize the opportunity to prove their capacity. About 600 insurance brokers and underwriters were involved in the race for the corporation’s business this year, higher that 500 bidders that took part last year. At the opening of the bid process, the Group Managing Director NNPC, Maikanti Baru, had said through the open process which gave every

INSURANCE interested insurance underwriter and broker the opportunity to participate, the corporation had saved as much as $30 million (N1.0800billion) premium in the last three years. Maikanti had also said the corporation insisted on transparency in carrying out the process, adding that this had brought about positive changes in business transactions. “The thrust of this result is transparency and openness, which has improved the chances, for new participants to participate in doing business in the sector,’’ he had said. To this end, the President of

the Nigerian Council of Registered Insurance Brokers(NCRIB) and Managing Director, Scib Insurance Brokers, Mr Shola Tinubu, stressed the need for insurers to cooperate with the NNPC. Speaking in an chat with THISDAY, he also advised them to be flexible regarding the terms of the deal. The NCRIB boss also said the corporation on its part should give the lead brokers more autonomy much earlier in the process, to jointly (with NNPC) control and direct the renewal activities. “This should ordinarily commence with agreeing the renewal strategy, arranging

I&E FX Inflows Drop to $1.98bn in November The total capital importation through the Investors’ and Exporters’ foreign exchange window (I&E window) in November 2018 was a total of US$1.98 billion. The amount recorded in November, according to the November monthly economic report by FSDH Merchant Bank Limited, was the lowest recorded since August 2017. This, the Head of Research and Strategy at FSDH Merchant Bank Limited, Mr. Ayodele Akinwunmi, while throwing more light on the report, attributed the development to an indication of foreign investors’ careful approach to investing in Nigeria. According to Akinwunmi, the CBN remained the largest contributors to the inflow in November, the same trend observed in the last three months. There was accretion to the external reserves in Novem-

ECONOMY ber following four months of consistent drawdown. Akinwunmi noted that the proceeds from the US$2.86 billion Eurobond issuance contributed to the growth of external reserves in November. The CBN continued with its tight monetary policy stance in November with the objective of maintaining stability in the foreign exchange market. Consequently, yields on the federal government securities increased in November compared with October except on 91-day treasury bills. “Although the aggregate outflow in the market in November exceeded the inflows, the NTBs maturity repayment in November led to increase in liquidity. This led to a decrease in rates and yields in the interbank market. “Also, the limited outlets for

the liquidity in the financial market led to a drop in the interbank rates. FSDH Research expects a total inflow of about N2.68 trillion to hit the money market from the various maturing government securities and Federation Account Allocation Committee (FAAC) in December 2018. “We estimate a total outflow of approximately N579 billion from the various sources, leading to a net inflow of about N2.10 trillion,� Akinwunmi added. The Debt Management Office (DMO) through the CBN had cancelled the auctions scheduled for the 13th and 20th December, 2018, while it will redeem the maturing securities. “FSDH Research believes the DMO will use the proceeds of the Eurobond to redeem the maturing FGN Securities leaving investors with huge liquidity looking for investment outlet. “Consequently, the yields on

Diamond Bank Plc has continued to reward its loyal customers who are its DiamondXtra savings account holders. The bank held a draw where a total of 1,016 customers had a chance to win from N59 million and cars for star prizes The quarterly draw which held over the weekend in Lagos, saw Mrs. Uche Ann Daniel, a customer from Festac branch, Lagos, won the star prize of a brand new Hyundai Accent car, in the DiamondXtra Season 10 third quarterly draws.The draw which took place in Lagos, started o by rewarding ďŹ ve people who had accounts in Ikeja GRA Lagos with N20,000 and then went on to announce winners of N1 million education grant for ďŹ ve years, where the winner is paid N100,000 monthly for ďŹ ve years. Also, there were three winners of rent for a year worth N1, 000,000 each and other cash prizes. Speaking on what prompted the draw, the Head, Regional Businesses, Lagos Directorate, Diamond Bank, Mr. Chris OďŹ kulu said: “In this environment, we really do not have a culture of saving so it is an opportunity for us to encourage people to save. “This account is a savings extra and that means that as you are saving, you also have the opportunity to also win. “And also this draw is for our loyal customers who have been saving money; this draw gives you the opportunity to win. So this promo is a way we encourage people to save and also giving back to the society.â€?

AFRIFF Partners Tecno Mobile

Theorganisersofthe2018editionoftheAfricaInternationalFilmFestival (AFRIFF) have partnered Tecno Mobile to organise the annual festival. ThefestivalseekstobringthediversityofAfricanďŹ lmsintooneexperience by screening vast ďŹ lm categories including feature ďŹ lms, documentaries, short ďŹ lms and others. The event also brings together various ďŹ lm makers and actors in the continent to share their dierent ďŹ lm making and acting experiencesforthepurposeofimprovingtheindustryinNigeriaandAfrica alike.Inastatement,theManager,PublicRelationandStrategicPartnership, Tecno Mobile, Jesse Oguntimehin, noted that as part of the company’s commitment to developing and encouraging smartphone photography and ďŹ lm making, TECNO Mobile had a strong presence made up of key members of its marketing and creative department at all the key events duringthefestival.Thestatementalsonotedthatthebrandalsosponsored and presented the AFRIFF short ďŹ lm category award at the glamorous AFRIFF Globe Awards to the eventual winner ‘1745’, “on hand to present theawardwereTECNONigeria’sMarketingManagerAbelHuoandT-BOY, the TECNO mascot.â€? According to Oguntimehin, “TECNO does not only develop amazing products, we also create and partner with experiences that highlight the unique features of our devices. “WiththeinternationalnatureofAFRIFFanditsfocusonďŹ lmculture,we have brought the strength of our Camon series to fore. We are deďŹ nitely looking forward to playing a bigger role at next year’s edition. “GuestsontheredcarpetsuchasOmotolaJalade-Ekeinde,RitaDominic, Ego Boyo, Ini Edo and Uche Jumbo had the opportunity to experience the amazing selďŹ e quality of theTECNO Camon X Pro and 11, while interacting with T-Boy and the media.â€?

the bidding process for local insurers, offshore reinsurance brokers and off shore insurers in that order,â€? he added. According to him, the NNPC had pointed out that one of the requirements for the bid was strong corporate governance standards. But Tinubu added: “I am not aware that the NNPC could have adduced the savings achieved to the fact that so many brokers were involved in the non-price bid process. “Whatever savings achieved on the oil assets programme Trophy Lager Rewards Consumers are more attributable to the Trophy Lager, from the stable of International Breweries Plc, recently management and activities organised a three-day beer carnival to celebrate the AlaaďŹ n of Oyo, Oba Lamidi Olayiwola Adeyemi III’s 80th birthday in Oyo with pomp, music, fun Continued on page 24 and prizes. The event, which provided an exciting and culturally appealing experience for consumers, also saw the brand reward winners in its ongoing national consumer promo, tagged ‘Honourable Millionaires Promo,’ which was instituted to celebrate Trophy Lager’s 40 years of facilitating goodwill and celebration for Nigerians. A statement explained that consumers had a great time as they were thrilled to comedy, drama and government securities and the musical performances from top artistes Speaking on the rationale for interest rates in money market the initiative, Consumer Connections Manager, IB Plc, Jumoke Okikiolu, may drop in December. This is noted that the celebrations are two-fold. “On one hand, our decision to in line with the trend that FSDH celebrate with Kabiyesi is very much aligned with our brand values as he Research observed in December is a personage who stands tall in the promotion of Yoruba socio-cultural 2017 following the issuance of values of honour, integrity and quality service. Eurobonds. “Also,thisďŹ estahasaordedustheopportunitytocelebrateandreward “The CBN may not increase our highly esteemed honourable men and women, who have stood with the yields on the fixed income the Trophy brand for 40 years, for their support and loyalty, in a unique securities in December except and fun way,â€? Okikiolu said. there are indications of significant capital flight from the financial system from foreign investors. “Given the limited investment options in Nigeria, the yields “We have called on NIPOST and of the Open Market Operations they have agreed to join us in this. (OMO) may remain at the current They would provide their facilities levels till the end of the year. in 774 local governments and this “Although yields on bonds would be their own contribution by way of equity into the establishment may increase above the current of the national MFB. We would levels early next year, FSDH provide the infrastructure and this Research believes the yields are MFB would be available in 774 local attractive at the current level. governments across the nationâ€? Investors should strategically position in the bonds Investors should take advanCBN Governor Continued on page 24

Godwin EmeďŹ ele

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BUSINESSWORLD NNPC ACCOUNTS: INSURERS CAUTIONED AGAINST MISCONDUCT

of the offshore reinsurance brokers as the root pricing on this type of transaction is obtained from the rear while lead local brokers traditionally add value by concluding the process locally. “For the non-oil programme, the lead local brokers are more responsible as the pricing is obtained by them directly from the front end, at their interaction with the local insurer market. “So it is more the brokers handling of completion between insurers that brings about efficiency in premium costs and as such savings where achieved� Tinubu said. Although indigenous insurers have over the years been yearning for control of larger chunk of the corporation’s business, this has not happened despite the Local Content Act. Presently, less than 30 per cent of the NNPC business is in the hands of indigenous insurers while the rest is insured with foreign firms. Over the years, reason often adduced by the corporation for this development was low capital base. I&E FX INFLOWS DROP TO $1.98BN IN NOVEMBER

tage of the current yields in the long end of the secondary Treasury Bills market “We also spot some opportunities in the Eurobond market for investors with Dollar to invest. The bearish trend in the equity market persisted in November 2018. The Nigerian Stock Exchange All Share Index (NSE ASI) depreciated by 4.90 per cent (a loss of 4.97% in US Dollar) to close at 30,874.17 points. “Year-to-Date (YTD), the Index recorded a depreciation of 19.27 per cent. Similarly, the market capitalisation recorded a month-on-month loss of 4.90 per cent (a loss of 4.97% in US Dollar) to close at N11.27 trillion (US$36.74bn). The persistent decline in the Nigerian equity market can be attributed to the continued pullback from foreign investors due to political considerations and rising global yields. The increased yields on fixed income securities in Nigeria also led to reallocation of portfolios away from the equity market,� the report stated.

Group Business Editor

Obinna Chima

Capital Market Editor

Goddy Egene

AgriBusiness/Industry Editor

Jonathan Eze

Comms/e-Business Editor

Emma Okonji

Senior Correspondent

Raheem Akingbolu (Advertising) Correspondents

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

Nume Ekeghe (Money Market) Nosa Alekhuogie (Maritime)

NEWS

FG Commences N100bn Fresh Borrowing through Sukuk Bond Nume Ekeghe and Sunday Ehigiator The federal government, through the Debt Management Office (DMO), last Friday announced the commencement of the second phase of the N100 billion, Sukuk bond issuance for infrastructure development. This, the government said, was as a result of the success of the 2017 Sukuk bond, whereby 25 roads were successfully constructed and rehabilitated across the six geo-political zones, and investors got their dividends as at when due. Speaking to journalists, the Director General, DMO, Ms. Patience Oniha, said the previous Sukuk bond was a huge success, with a promise of improved benefits for investors in the new debt instrument. According to her, “Sukuk is just like any other of federal government investment platforms, only that its lifespan is just for seven years. Simply put, federal government has some capital projects on road infrastructure to undertake, but need your investors to fund it and resell to the federal government at completion. “Sukuk pays a high interest rate of 15.743 per cent upon every investment, and I think it’s the highest return on investment you can ever find

on any investment currently in Nigeria. “It has a zero risk rate, and the returns on investment are tax-free. Sukuk holders can trade the Sukuk on the Nigerian Stock Exchange and FMDQ OTC Securities Exchange, and it qualifies as liquid assets for banks and other institutions.� Speaking further, she said: “The Sukuk investment certificate may be used as collateral

for securing credit facilities from financial institutions, and it likewise provides additional flexibility in asset allocation for all classes of investors. “We implore the general public and cooperate bodies to invest in this fresh phase of Sukuk. To invest, contact the DMO or the financial advisers to obtain the application form.� On his part, the Deputy Managing Director, FBN Quest Merchant Bank, One

of the financial advisers for instrument, Mr. Taiwo Okeowo, highlighted the benefits those who took part in the last phase derived, adding that, new investors should expect more. He said: “Those who took part in the last Sukuk have realised that every promise we made, we have delivered on it. In fact, even the federal government is proud to showcase the Sukuk issue as an example of programmes that work.

“It’s a situation where we promised to have money dedicated to specific projects, and we are able to show Nigerians, the project where this money has really made a difference.� He further added: “And indeed, it’s actually a lot easier because these are known roads, and the sign boards of Sukuk are on each and every of those roads we did in all the geo-political zones in Nigeria, so we all can see it while we drive on them.�

SUPPORTFOR CREATIVE INDUSTRY

L-R: Wife of Lagos State All Progressives Congress (APC), Gubernatorial Candidate, Mrs Ibijoke Sanwo-Olu; Lagos APC Gubernatorial candidate, Babajide Sanwo-Olu; Wife of the Vice President, Mrs. Dolapo Osinbajo; CEO, Ebonylife Films, Mo Abudu; GMD/CEO, Keystone Bank Limited, Dr. Obeahon Ohiwerei and Executive Chairman, Lagos Internal Revenue Service, Mr. Ayo Subair, at the premiere of ‘Chief Daddy’ in Lagos... recently

New Airline, Quorum Aviation, Unveils Board, Management Team Chinedu Eze A new airline operator, Quorum aviation, which recently secured its Air Operators’ Certificate (AOC), has unveiled its board and management team, made up of experienced personalities in and outside of the aviation industry. The CEO and Managing Director of the company, Abiola Lawal, said the company, which has launched charter operations into the oil and gas sector, among other areas, secured its AOC after scaling through five rigorous stages of the exercise with the Nigerian Civil Aviation Authority (NCAA). Lawal, while speaking to journalists at the Murtala Muhammed Airport,Lagos, at the weekend, said Quorum

has imbibed safety as its core mission statement and would do everything possible to ensure safety is not jeopardised in its operations. “Our target is to be able to support off-shore exploration, the oil and gas business. However, securing the AOC is a major milestone; the AOC is a rigorous, exhaustive and very expensive one too, but we are grateful that the Authority puts us through the process. There are five phases of multi-layer aspects including manpower, facility, demonstration, manuals and others. “But we give kudos to the NCAA which ensures that all these requirements are met as part of the laid down safety procedures. At Quorum Aviation, we have imbibed safety

as our core mission statement�, he said. Speaking on the composition of the board, Lawal said the airline deliberately chose the best hands in the sector, adding that corporate governance remains key to the success of the company. “For me, corporate governance is key. Our Board composition was not randomly done. It is a result of a serious selection process. We looked for men and women of integrity. “We also looked at corporate governance, that is key to any company that wants to add value, we went through a thorough process in getting the Board, we wanted the right persons in regulation, operations and we wanted solid people in finance too,� he added.

“Abiodun Michael is the Quality and Safety Manager while Director of Maintenance is very experienced Ben Okafor, formerly of Bristow, Caverton, Aero and OAS. In addition, the company is guided by top class advisory board of distinguished and accomplished men and women in different walks of life,� he added. Quorum Aviation was incorporated in 2011 as an indigenous aviation logistics company. The company was set up to pursue opportunities in the rotary (helicopter) business primarily for oil and gas clients as well as VIP charter services. The company was awarded the AOC in 2018 to engage in commercial aviation services.

The company was founded and run by a very experienced team with combined years of experience of over 100 years in aviation and oil and gas by the senior management team, he said. Quorum operates in the aviation and logistics business by flying customers to both onshore and off-shore designated locations especially for the oil and gas industry and for tourism. The company currently offers charter services for maritime and coastal surveillance purpose; VIP transportation and video shoot for large events. It also offers emergency evacuation service; aircraft consultancy services; oilfield engineering and special transportation to political rallies.

BEDC Partners Ekiti to Enhance Power Supply BEDC Electricity Plc (BEDC) is partnering with Ekiti State Government (EKSG) on an arrangement for more improved power supply. This, is to enable the state power its streetlights for about 10hours a day, as against the present situation where streetlights were powered for about three hours daily. The BEDC in addition to this arrangement assured the state government that power would be restored to the tourism corridor of the state by middle of December. Communities in

the tourism hub which have been out of supply included; Ikogosi-Ekiti host of the Ikogosi Warm Spring Resort, Ipole-Iloro, base of Ariata Waterfalls and Erinijiyan Ekiti. According to a statement, the development emerged after a recent meeting between BEDC management team led by the Managing Director/CEO, Mrs. Funke Osibodu and Ekiti State Governor, Dr Kayode Fayemi in Ekiti. The CEO had at a press briefing in Benin hinted that there was ongoing rehabilitation of

Ikogosi/Erinijiyan/Ipole Iloro on Aramoko 33kv feeder, adding that communities in these areas should have more stable power by next month and that 15 other communities were being considered for connection before end of December. She explained that in connecting some state public utilities directly, Maximum Demand (MD) prepaid meters would be connected to reduce complaints between the company and the state government. On the issue of total supply available to the state, she said

this could be improved upon from the present level. On metering, she spoke on the Meter Asset Power (MAP), which she said was aimed at closing metering gap in the nation’s power sector, adding that BEDC had keyed into the scheme and would be ready for the implementation before the end of first quarter of 2018. Responding, Fayemi who expressed optimism about the improved power supply in the state apart from the three communities said, “based on this meeting it is clear there will be

improvement in power supply and relations in the state and this will translate to improved economy.� The meeting was called to work out an arrangement for improved power supply across the state, including how BEDC can connect communities that are out in the shortest time, how can the state’s public utilities such as hospitals, schools, government and water corporation be directly connected and how can the total supply available to Ekiti state can be improved upon from the present state.

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BUSINESSWORLD

MARKET REPORT

Investors Commit N11.1bn to Equities amid Marginal Decline Goddy Egene

the recent arrest of Huawei’s Chief Financial Officer rattled the investors and led further uncertainty in the United States. As a result of this, the performance of developed markets was largely bearish across board. In the US markets, the S&P 500 and the NASDAQ closed the week lower, down 2.3 per cent and 1.9 per cent respectively while the UK FTSE shed 2.8 per cent. Similarly, France’s CAC 40 went down by 3.2 per cent; Germany’s XETRA DAX shed 3.5 per cent while Japan’s Nikkei 225 depreciated by 3.0 per cent. Hong Kong’s Hang Seng fell by 1.7 per cent. Also, in Asia and the Middle East, there was a bearish performance as four of five indices recorded losses. UAE’s ADX General Index and Qatar’s DSM 20 index equally recorded the worst return of 2.2 apiece followed by Saudi Arabia’s Tadawul ASI that shed 1.9 per cent and Thailand’s SET Index which went down by 1.0 per cent. Turkey’s BIST 100 emerged as the lone gainer with a return of 2.5 per cent.

Investors staked N11.192 billion on 1.107 billion shares in 14,430 deals at the stock market last week even as the market recorded a marginal decline. The amount was, however, lower than the N14.277 billion invested in 1.199 billion shares exchanged in 15,841 deals the preceding week. The market had ended the month of November with a fall of 4.9 per cent following persistent bear run. While the market is heading towards a negative close this year, the first week of the last month of the year witnessed a performance that raised the hopes of some level of recovery. The Nigerian Stock Exchange (NSE) All-Share Index (ASI) posted a marginal depreciation of 0.02 per cent to close at 30,866.82, while market capitalisation ended at N11.269 trillion. Similarly, all other indices finished lower with the exception of the NSE CG, NSE Main Board, NSE 30, NSE Banking, NSE Consumer Goods, NSE Oil and Gas, NSE Lotus II and NSE Pension Indices that rose by 0.82 per cent, 0.41 per cent, 0.10 per cent, 0.89 per cent, 0.64 per cent, 1.98 per cent, 0.08 per cent and 0.03 per cent respectively while the NSE ASeM index closed flat. Daily Market Performance Although the market ended with a marginal decline, three out of the five trading sessions were positive. The local bourse started the week on a bearish note as investors took profit in bellwether stocks such as Dangote Cement Plc, Nigerian Breweries Plc, Stanbic IBTC Holdings Plc, PZ Cussons Plc and Access Bank Plc among the losers’ led to the decline recorded. But activity level improved as volume and value traded rose by 0.1 per cent and 13.6 per cent respectively to close at 249.7 million shares and N2.7 billion respectively. The top traded stocks by volume in today’s session were FCMB (103.5 million shares), FBN Holdings Plc (22.1 million shares) and UBA (20.3 million shares ) while the top traded stocks by value were Dangote Cement Plc (N674.7 million), GTBank (N609.5 million), and Zenith Bank Plc (N453.6 million). The equities market rebounded on Tuesday following bargain hunting in banking stocks propelled the rebound as investors swooped of UBA, GTBank, FBN Holdings, Stanbic IBTC Holdings and Zenith Bank Plc among others. In all, 24 stocks appreciated, while 14 depreciated. AXA Mansard Insurance Plc and Diamond Bank Plc the price gainers with 9.8 per cent apiece trailed by University Press Plc with 7.5 per cent. United Bank for Africa Plc added 6.6 per cent, just as Union Diagnostic and Clinical Services Plc went up by 4.1 per cent. GTBank Plc and FBN Holdings Plc chalked up 3.7 per cent and 2.7 per cent respectively. Conversely, Linkage Assurance Plc led the price losers with 9.6 per cent, followed by Veritas Kapital Assurance Plc with 9.0 per cent. May & Baker Nigeria Plc and Mutual Benefits Assurance Plc shed 8.0 per cent each. Other to price losers were: Regency Alliance Insurance Plc (4.7 per cent); Lafarge Africa Plc (4.4 per cent). The cement manufacturing firm, yesterday announced plans to raise N89.2 billion from the market through a rights issue. The positive performance was sustained on Wednesday. However, on Thursday, performance was negative as the NSE ASI shed 1.1 per cent due to profit taking in market bellwethers. To close the week, the market rebounded, hence a marginal weekly decline posted.

Other Markets Just like Nigeria, performances of other markets in Africa were bearish as five out of six markets declined due to renewed sell-offs by investors.

Egypt’s EGX30 recorded the largest loss, down 7.0 per cent, followed by Ghana’s GSE Composite that fell by 0.7 per cent. Mauritius SEMDEX index shed 0.5 per cent, while Kenya

NSE-20 closed 0.2 per cent lower. Morocco Casablanca MASI emerged as the lone gainer closing the week 0.3 per cent. According to Afrinvest (W.A),

Market Turnover A look at the turnover for the week showed that the Financial Services Industry remained led the activity chart with 891.032 million shares valued at N7.180 billion traded in 8,929 deals, thus contributing 80.5 per cent and 64.2 per cent to the total equity turnover volume and value respectively. The Oil and Gas Industry followed with 76.097 million shares worth N519.777 million in 993 deals. The third place was Services Industry with a turnover of 45.890 million shares worth N81.670 million in 355 deals. Trading in the top three equities namely: FBN Holdings Plc, First City Monument Bank Plc, and Diamond Bank Plc, accounted for 547.260 million shares worth N2.409 billion in 2,605 deals, contributing 49.44 per cent and 21.53 per cent to the total equity turnover volume and value respectively. Also traded during the week were a total of 84,714 units of Exchange Traded Products (ETPs) valued at N1.219 million executed in 10 deals. A total of 2,908 units of Federal Government Bonds valued at N2.516 million were traded last week in 11 deals compared with a total of 16,686 units valued at N16.442 million transacted the previous week in 10 deals. Price Gainers and Losers Also, the price movement chart showed that 30 equities appreciated in price during the week, higher than 25 in the previous week, while 38 equities depreciated in price, lower than 41 of the previous week. Diamond Bank Plc led the price gainers with 56.9 per cent, trailed by Ikeja Hotel Plc with 11.3 per cent. AIICO Insurance Plc added 11.1 per cent, just as Jaiz Bank Plc and Champion Breweries Plc garnered 10.0 per cent and 9.6 per cent respectively. Other top price gainers included: Oando Plc(9.5 per cent); Learn Africa Plc (8.6 per cent); Cutix Plc(8.2 per cent); Wema Bank Plc (7.8 per cent) and FBN Holdings Plc (7.0 per cent). Conversely, Continental Reinsurance Plc led the price losers with 12.5 per cent, trailed by Prestige Assurance Plc with 10.9 per cent. NewRest ASL Nigeria Plc shed 10 per cent, just as MRS Oil Nigeria Plc went down by 9.9 per cent and 9.8 per cent in that order. Other top price losers were: Northern Nigeria Flour Mills Plc (9.4 per cent); Tans-Nationwide Express Plc (9.2 per cent); First Aluminium Nigeria Plc , Niger Insurance Plc (9.0 per cent apiece) and Cement Company of Northern Nigeria Plc (8.3 per cent).

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INSIDE BROAD STREET

Airtel to Establish Payment Service Bank Emma Okonji Airtel Nigeria has announced plan to set up a Payment Service Bank (PSB) in Nigeria, following the Central Bank of Nigeria (CBN) issuance of guidelines for licencing PSBs in the country. The telecoms company also commended the CBN for issuing guidelines for licencing of PSBs in Nigeria, saying the move would help promote financial inclusion as well as enhance access to financial services to the rural poor, low income earners and financially excluded of the society. Airtel said it would apply for the PSB licence through a subsidiary and in line with the CBN guidelines, as it has a vision of becoming the largest and most secured PSB in Nigeria. With a subscriber base of over 40 million customers, and retail

footprint across major nooks and crannies of the country, Airtel intends to leverage its distribution to drive financial inclusion among the unbanked and financially excluded. Commenting on the CBN guidelines for Mobile Banking License, the Chief Executive Officer and Managing Director of Airtel Nigeria, Mr. Segun Ogunsanya, said: “We welcome the development and we express profound appreciation to the CBN for its commitment to driving financial inclusion through technology. “In line with the guidelines shared by the CBN, we have commenced the process of applying for a license as we believe that we are at a vantage position to empower and connect more Nigerians as well as deliver mobile banking services to the door steps of the

financially excluded. Folks will no longer need to keep their money inside cooking pots or under their beds because we will securely connect them to the financial system.� As conceived by the CBN, PSBs are expected to leverage on mobile and digital channels to enhance financial inclusion and stimulate economic activities at the grassroots through the provision of financial services. Accordingly, PSBs are envisioned to facilitate high-volume low-value transactions in remittance services, micro-savings and withdrawal services in a secured technology-driven environment to further deepen financial inclusion and help in attaining the policy objective of 20 per cent exclusion rate by 2020.

Spar Opens 14th Store in Nigeria Raheem Akingbolu One of the leading hypermarket chain stores in the country, Spar Nigeria, has announced the opening of its 14th store; the largest of its outlets in Opebi, Lagos. The opening of the store which coincided with its Black Friday Sales recently, saw the hypermarket offering its customers a discount of 70 per cent in every purchase made. The store has an array of products that caters to the various needs of Nigerian consumers such as food and grocery, butchery and bakery, wine and spirit, fresh farm foods, frozen foods, laptops, mobile phones, electronics products and other household items. Managing Director, Spar Nigeria, Opebi Store, Mr. Haresh Keswani, affirmed that the Opebi store was the largest and 14th outlet in Nigeria, noting that there are nine stores in Lagos with Abuja and Port Harcourt having two each and one outlet in Enugu

and Calabar respectively. Speaking in the same vein, the Chairman, Artee Group, Asiwaju Solomon Kayode Onafowokan, said the Opebi store remains the largest hypermarket store in Nigeria and it is strategically located in Opebi to respond to the yawning of the residents of that area. He said: “We are opening the largest hypermarket here in Opebi because of the cravings of our ever growing customers especially from this community. The uniqueness of Opebi is that we have all our products here, electronics, food and grocery, wines, perfumes, frozenproducts just to mention a few. “We have free parking space for ourcustomers, most of our products are made in Nigeria, about 65 per cent. We also have other imported goods and products for non-Nigerians to enjoy. “We have ensured that all our food and grocery products are approved by the regulatory authorities in Nigeria and our prices are affordable. Right now

we have an unbeatable promo going on due to Black Friday Sales that we are currently offering our dear customers with 50 per cent , 70 per cent off some of our products, this will last for eight days and we encourage our customers to take advantage of this window.� The new outlet was commissioned by the Oba of Lagos, His Highness Oba Rilwan Akiolu in the presence of other well-meaning dignitaries. Speaking at the launch, the Oba of Lagos said with the opening of the new store, SPAR Nigeria has demonstrated it was committed to economic growth of Nigeria. “SPAR Nigeria remains one of the leading hypermarket stores in Nigeriaand with this new outlet in Opebi, the residents of this area will now enjoy varieties of affordable consumer goods and products that SPAR offers to the general public. I will want to thank the company for opening this store here in this strategic location.�

Firm Sensitises Entrepreneurs on Importance of Collaboration in Businesses Oluchi Chibuzor The Africa Balloon Conference (AFBC) has organised it maiden event in the continent which was centred on how to create a robust platform for businesses to growthrough collaboration and networking. Speaking at the official lunch of the 2018 conference, tagged, “Balloon Perk,� held recently in Lagos, the Convener and Chief Executive Officer, PEC Events, Funmi Omoyele, noted that, AFBC came out of the need to strengthen the balloon industry in Nigeria and Africa like they did in developed nations and to create global visibility for entrepreneurs interested in balloon business in the continent, to leverage on the value chain of sector, which was put at billions of naira. She urged the government to consider empowering

unemployed youths in respective areas of the enterprise. The balloonist, who also said the balloon industry, holds diverse opportunities for potential investors, added that it has helped them to train various prospective clients across different states in Nigeria with world class balloon decoration and business skills. “We have brought in masters and experts in the industry and in business to skilfully guide you on how to navigate profitably and scale up your individual businesses, and to lead in deepening the conversations needed to move the industry forward, while creating a robust platform to engender the necessary engagements, inclusiveness, networking, synergy and collaboration among all players and stakeholders,� she told her audience. She further added: “That the conference will

High Liquidity Persists in Money Market

continue to champion development and shall contribute our meaningful quota to tackling the unemployment menace among the people, especially the youths and furnish them with marketable skills to help them setup their own business, so they can in turn employ and train others.� However with the industry currently emerging and disruptive in nature beyond the event industry in areas such as arts, tourism, economic empowerment, environmental sustainability, manufacturing, education, panelists believed that stakeholders needed to equip themselves with tools and skills to compete with the global standards, while calling for more investors to go into manufacturing of different accessories as all the materials are currently imported.

Despite the aggressive liquidity mop up initiated by the Central Bank of Nigeria (CBN) since the closure of Nigeria’s Treasury Bills (NTBs) issue calendar for 2018, the level of liquidity in the system has remained at an elevated level. The central bank had intensified its open market operations (OMO) in order to manage the volume of liquidity in the system. OMO is one of the central bank’s liquidity management instruments, whereas treasury bills are government debt, basically to support the budget deficit. According to analysts at Afrinvest Securities Limited, the impact of the rapid rate of mop ups initiated by the CBN last year has increasingly been reflected on system liquidity levels over the past two weeks. Last week, following OMO maturity worth N684.8 billion which hit the system, the CBN sought to keep system liquidity in check via mop-ups on every day of the week save for Friday. System liquidity was said to have opened the week higher last week, than the preceding week, but trended lower to settle at about N133.1 billion last Wednesday. This decline was largely due to OMO auctions floated by the CBN on each of the days, mopping up N54.6 billion, N94.5 billion and N92.1 billion on Monday, Tuesday and Wednesday respectively. “The mop ups by the apex bank, were largely in anticipation of the OMO maturity worth N684.8 billion on Thursday. “Following the maturity, liquidity level expanded to N763 billion whilst the CBN floated an OMO auction which mopped up N691.5 billion from the system on Thursday. “Cumulatively, the CBN mopped up N932.8 billion via OMO auctions in the week, however, analysis of amount offered against subscription levels provides more insight,� a report by Afrinvest stated. The total amount offered in the week stood at N1.6 trillion, while total subscription was N935.3 billion, which implied an under subscription of 0.6 times. Furthermore, the report revealed that in two of the sessions, ‘No Sale’ was recorded on the shorter tenors. Average rate across tenors stood at 11.8 per cent, 13.5 per cent and 15 per cent on the short, medium and long tenors respectively. “In our view, we believe that the weak subscription at the auctions, despite robust system liquidity, was largely due to investor’s taking advantage of more attractive rates at the secondary market, especially on the shorter tenors,� the report stated. Accordingly, Money market rates – Open Buy Back (OBB) and overnight rates – opened the week at 6.7 per cent and 7.7 per cent lower than 16.6 per cent and 17.4 per cent respectively at the close of the preceding week.

This week, maturing OMO worth N498.7 billion and treasury bills worth N551.4 billion are expected to hit the system and as a result, the CBN is expected to sustain the bout of mop ups. “We also anticipate that money market rates will remain within a single digit band,� Afrinvest stated. Forex Market The naira remained fairly resilient last week as the central bank injected US$210 million into the interbank foreign exchange market to provide liquidity and stability. In the parallel market, the naira appreciated by 1.1 per cent from N370/US$1, to close the week at N366/ US$1. The level of appreciation was attributed to the CBN’s special intervention in the BDC segment of the market last Thursday. In contrast, the CBN spot rate shed 5 kobo to close at N306.85/US$1, while in the Investors’ & Exporters’ FX Window the naira opened the week at N364.10/US$1 and lost N1.06 to close the week at 365.16/US$1. Also, activity level in the I&E FX window dipped by 15 per cent week-on-week to US$1.3 billion, from US$1.4 billion the prior week. In the FMDQ OTC FX Futures Open Contract market, total subscriptions rose 4.6 per cent week-on-week to US$4.6 billion, from US$4.4 billion, the preceding week, with notable buying interest in the July 2019 contract. The central bank is expected to sustain its intervention in the market, to support the foreign reserves. Bond Market The bond market seems to have settled into a lull, as activity levels have remained pressured by investors’ focus on shorter term instruments given more attractive yields. Consequently, the average Ask-yield on FGN bonds increased by 13 basis points to settle at 15.6 per cent. Also, activity levels remained depressed in the week, as volumes of N97.7 billion were traded on the FMDQ OTC market, relative to the preceding week’s volume of N221.4 billion. “We expect yield to continue on this trend until the elections in 2019, as demand is expected to remain relatively weak for as long as yields on treasury bills outstrip FGN bonds at this magnitude,� Afrinvest stated. The buying activities in Sub-Saharan Africa sovereign Eurobonds market picked up in the week, as average yield on the instruments pared by 16 basis points to 8.2 per cent. Similarly, the yields on the Nigeria Sovereign Eurobonds declined, falling by 21 basis points to settle at 8.1 per cent. “We expect developments from the OPEC meeting to shape sentiment towards these assets over the coming week and for the rest of the

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SON Seeks Support to End Contraband Business Eromosele Abiodun The Standard Organisation of Nigeria (SON) has called for the cooperation of importers in the country in order to end contraband importation. This is just as the agency disclosed that it intercepted N22.7 billion worth of substandard products this year. The Director General of SON, Osita Aboloma dislcosed this during a sensitisation workshop organised for maritime stakeholders in Lagos. He stated that substandard products which posed grave

dangers to lives and properties, as well as the economy of the nation had been seized and destroyed by the agency. The SON DG, who was represented by the director, DG’s Office, Alhaji Mohammed Kabiru, lauded the Association of Nigeria Licensed Customs Agents (ANLCA), the National Association of Government Approved Freight Forwarders (NAGAFF) and other key stakeholders in the maritime sector for their continuous support and collaboration with SON. According to him, “The nation’s economy and the lives of Nigerians are also further

endangered due to the influx of substandard goods. It is worthy to note that the value of substandard products that SON has seized in the past one year is estimated to be over N22.7 billion (both destroyed and awaiting destruction). Some of these products are: tyres; electric cables; LPG cylinders; lubricants; communication cables; unfortified sugar. “I therefore implore you to join us to sensitise and educate all importers and the public on the importance of quality goods and products as well as the dangers associated with substandard and life-endangering products.

“The works of standardisation, quality assurance as well as campaign against the menace of substandard products remains a collaborative and partnership endeavour among SON and its stakeholders.� He added, “Suffice to state that over 80 percent of products that enter into Nigeria daily, monthly or yearly are via the nation’s seaports and waterways. “It is therefore critical to collaborate with the maritime sector operators in the quest for zero import of substandard and unwholesome products as well as the Federal Government’s

Ease of Doing Business (EODB) Policy. “One major way of bringing the players on board the standards and quality voyage is through sensitisation/ enlightenment. “You may wish to recall that similar forums have been organised by the SON in recent times across the country. The end, they say, justifies the means. “This workshop’s objectives include, providing a veritable avenue for cross-fertilisation of ideas, views, suggestions and solutions on how to move the Nation’s maritime sector

forward, especially in furtherance of the federal government’s Ease of Doing Business policy relative to Electronic clearance, destination inspection and the on-going repositioning of the Nation’s Ports.� He also bemoaned the noninvolvement of the agency in cargoes clearance at some seaports and border points in the country. “It is important to note that non-involvement of SON at some Ports of entry in the country operations has continued to pose challenges, particularly to the agency’s compliance and monitoring units,� he explained.

ICAO Inaugurates Training Centre at MMIA Chinedu Eze The International Civil Aviation Organisation (ICAO) has inaugurated the ICAO Aviation Security Training Centre (ASTC) at the Murtala Muhammed International Airport MMIA), Lagos. The centre would be under the management of the Federal Airports Authority of Nigeria ( FAAN), which received a Certificate of Recognition at a brief ceremony to mark the event at the weekend. The centre is located at the FAAN training school, which has been rated by ICAO as meeting the international aviation training institution, hence its qualification to host the centre. To further reinforce the importance of the training centre, the British Government also signed Memorandum of Understanding (MoU) on aviation security with FAAN for the development of manpower, especially Aviation Security Personnel (AVSEC) in the sector. ICAO said the training centre would cater for aviation institutions in West and Central Africa sub-regions. Speaking at the inauguration ceremony, the Managing Director of FAAN, Saleh Dunoma, said the objective of the centre was to contribute to the development of manpower, adding that it was also expected to meet the training needs of the West Africa region and even beyond. “It will provide opportunity to handle all aviation security training in West and Central Africa,� he said. Also speaking, Director general, Nigerian Civil Aviation Authority (NCAA), Capt. Muhtar Usman, said the endorsement of the school by ICAO, showed that FAAN was ready to contribute to the ICAO global aviation security training programme and that the agency has been meeting the expectation of the international aviation body, which is known for its stringent standards on aviation safety, security and other standard practices. “The request for the designation of FAAN AVSEC Training school as n ICAO Aviation Security Training Centre was made on June 8, 2017 after which an evaluation by ICAO was conducted in May 2018 by the Regional Security Officer for Western and Central African Office (WACAF) and under 24 months, the request was

granted.� While thanking ICAO for the privilege, Usman said the reason for the request for an ASTC was purely for the provision of AVSEC training courses to cater for the English speaking states in the West Africa Sub-region. “In furtherance of our position on this request, I wish to inform ICAO that presently in Nigeria, there are five certified ICAO AVSEC Instructors and over 60 qualified national AVSEC instructors that can be of service at the ASTC. “It is hoped that the designation of the FAAN training school as an ICAO ASTC will attract patronage from the airport communities of the West Africa subregion and its environs thereby contributing to the development and improvement of aviation security training in the region and elsewhere,� he said. Also speaking, ICAO Regional Director, Mr. Mam Sait Jallow, said one of the main pillars of ICAO’s aviation training policy was the recognition for training organisations, adding that during assessment of the orgnisation, ICAO validates entities to provide competencybased training and to manage it in a manner that effectively suppers the training of aviation professionals with the appropriate skills. He added that, “With the recognition of the ASTC of Nigeria, the network of aviation security training centres (ASTC) now includes 35 centres wisely distributed in all ICAO regions, to provide aviation security training at the international (ICAO ), regional and national levels to all categories of personnel involved or responsible for implementation of security measures, policies and procedures in accordance with its strategic objectives to improve the level of implementation of Annex 17 Standards. He added further that, “the certificate of recognition issued by ICAO to the ASTC of Nigeria means that it has been duly demonstrated that the Centre meets the general and specific requirements in this respect, and that is able to continue to meet such requirement during the period of validity of the certificate of recognition. “Marinating the certificate therefore requires all stakeholders to redouble their efforts through the implementation of a coherent and comprehensive monitoring programme.�

COMMONWEALTH DINNER

L-R: Country Head (Nigeria), Commonwealth Enterprise and Investment Council (CWEIC), Mr. Obinna Anyanwu; Permanent Secretary, Lagos Office of Overseas Affairs & Investment (Lagos Global), Dr. Oguntimehin Olukayode; Special Representative to Governor of Akwa Ibom State in Lagos, Mr. Samuel Bassey; representative from Pan African Capital Holdings, Mr. Michael Ebbi; MD, Chimons Limited, Engr. Chibuike Achigbu; MD, CZAR Projects Limited, Mr. Chiedu Nweke; Chairman, CWEIC, Lord Marland of Odstock; Operating Partner for Helios Investment Partners, Mr. Boye Olusanya and MD/ CEO, L. A.TCleveson, Mr. Sam Okwulehie, at a dinner for CWEIC Nigeria strategic partners during Odstock’s visit to Nigeria‌recently

GE Nigeria Trains 250 Entrepreneurs in TwoYears, Launches Portal Emma Okonji GE Nigeria, a global digital industrial company has trained 250 entrepreneurs in different fields of engineering in the last two years of the commencement of its GE Nigeria Lagos Garage. Committed to train more Nigerians, the technology company has launched an elearning portal where interested Nigerians can log on to, interact with training instructors and apply for six weeks intensive training programme, where the initial 500 candidates would be selected and 50 shortlisted for another set of training. The e-learning portal was launched for its Lagos Garage advanced manufacturing training program with the

objective of extending the training program’s reach to thousands of Nigerians across the country. The portal was launched during GE’s Lagos Garage Week 2018, a year-end series of events held annually at the Lagos Garage, located in GE’s Lagos office in Victoria Island, Lagos. Speaking as the special guest of honour at the GE e-learning portal launch, the Lagos State Commissioner, Ministry of Science and Technology, Hon. Hakeem Fahm, who was represented by the Permanent Secretary, Mr. Kayode Ogunnubi, commended GE on its collaborative partnership with the Lagos State government for several years.

According to him, “Lagos State is at the forefront of ICT development in Nigeria and the training programs like the GE Garage that equip youths with innovative skills, is one of the ways we believe we can develop the economy of the state and by extension the entire country.� He said the state government recently sponsored 22 entrepreneurs to Washington DC in the United Sates for training that would boost skills acquisition among Nigerian youths. Director, Communications and Public Affairs, GE Africa, Patricia Obozuwa, expressed pleasure at the continued success of the Lagos Garage since inception. “Our goal is to empower

Nigeria entrepreneurs with the relevant skills required to compete on a global scale. I’m happy to say that so far, over 250 people have successfully graduated from the advanced manufacturing training program we offer here at the Garage� she said. Obozuwa added that with the e-learning platform, interested entrepreneurs no longer have to be physically present at the Garage to benefit from the innovative training that the hub offers. During Garage week, GE opens up its innovation hub to the public for interested entrepreneurs to register for carefully curated courses in advanced manufacturing and business development.

AIM Focused on Accelerating Growth Across Africa, India, Middle East’ Ugo Aliogo The Partner and Advisory, Africa, India and Middle East (AIM) EY, Hennie Human, has said the initiative is focused on accelerating growth across Africa, India and Middle East. Human noted that the firm was also considering how to improve profitability across these three markets. Human, who disclosed this in Lagos, during a recent media parley, noted that two years ago,

the firm started reviewing its businesses across Africa, India and the Middle East market and identified that the real drivers exist specially from a client perspective. He also stated that due to their clients’ need for a seamless integrated service in the emerging markets; they started with the integration of the advisory businesses across Africa, India and Middle East, saying “this has pulled together more than 7,000 consultants across these

three areas.� Human, who revealed that the firm has the largest emerging market consultancy in the world through the integrated vehicle, noted that some of the key reasons for the integration of AIM was to look at how to accelerate growth across all three markets of Africa, India and the Middle East. According to him, they are also looking at how to improve profitability of delivery across these three markets.

According to him: “We are also looking at leveraging investments and making sure that we get the most from our investment from these markets. An important driver was to increase resilience at any point in time for any of our markets because there are different cycles. “We have an incredible amount of intellectual property across these three markets. Like what happens in business, it is not integrated, the intellectual states local.

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Keystone to Deepen Retail Banking Nume Ekeghe Keystone Bank Limited will explore every good platform to deepen its strength in the retail and youth segments of the Nigerian economy and beyond. The Group Managing Director/CEO of Keystone Bank Limited, Dr. Obeahon Ohiwerei, was quoted in a statement, to have said this in Lagos, during a partnership between EbonyLife Films and the bank to premiere the movie, ‘Chief Daddy’. He reiterated that the bank’s sponsorship of the movie aligns with its corporate objectives of supporting SMEs and empowering enterprising entrepreneurs. “By partnering this movie, Keystone Bank is actively promoting the culture of personal fiscal responsibility by encouraging everyone, young and old to take advantage of the bank’s expertise to learn about and set up financial instruments that will give them and their loved ones an assurance while they are here and long after.� Ohiwerei stated. The Keystone Bank boss said the lender, which recently

signed up popular Nollywood actor, Funke Akindele Bello, popularly known as ‘Jenifa’ as its official brand ambassador, prides itself in its ability to hand-hold different sectors of the economy in order to nurture them and help them to grow. While commending the producer of the movie, the Keystone Bank boss said: “I salute Ebony Life TV for their innovation and Mo’ Abudu their CEO for her entrepreneurial drive. These values resonate with our culture at Keystone Bank. “It is remarkable projects like these that have served to place the Nigerian Movie industry on the global market.� Commenting on the movie, which will be in cinemas from Dec. 14th, EbonyLife Films CEO, Mo’ Abudu, said that the movie was centred on the life of an extravagant and larger-than-life billionaire industrialist, Chief Beecroft, who is known to be a pillar of the society.� All seems well in the Beecroft household until Chief Daddy passes away and suddenly the ‘wheels begin to turn’ and things go awry,� she said.

Bank Directors Calls for Measures to Enhance Professionalism, Ethics Nume Ekeghe Members of the Bank Directors Association of Nigeria (BDAN) are soliciting the corporation of the Chartered Institute of Bankers of Nigeria (CIBN) in the area of professionalism and ethics in the industry. BDAN is planning to hold its conference by the second quarter of 2019, where new directors would be inducted. Leading her new team during a visit to the governing council of the CIBN in Lagos, Osaretin Demuren, president of BDAN, explained that the aim of the

induction would be to enlighten new directors on their roles and responsibilities as directors, thereby complementing the efforts of the executive directors and also the CIBN. Demuren, disclosed that the association was working to establish an alumni group for bank directors. The theme for the conference is, ‘Cyber security and performance of banks -the role of the board.’ Speaking further, Demuren said: “The experience I have, I can always advocate for integrity, honesty, which is why we are here. Whatever CIBN is doing,

we are only complementing it. “What am I bringing on, just to guide the association to know their roles and responsibilities and work by rules of the banking industry and it is all about ethics and professionalism in the banking system.� In his response, the President/ Chairman of council, CIBN, Mr. Uche Olowu, said the institute would give BDAN all the necessary support. Olowu commended BDAN for its successful AGM and also on the theme of the conference. While noting the efforts of the institute in the cyber secu-

rity space, the CIBN president stressed that banking sector remains vital for the growth of the Nigerian economy. He emphasised the need for promoting ethics and professionalism in the sector, while assuring BDAN of the Institutes support in awareness creation and capacity building of the directors. “CIBN would give you all the necessary support. Banking is a very important sector and we should find a way of collaborating more to ensure that the non-executives directors are properly trained.

Alpari Holds Training on Forex Trading Udora Orizu in Abuja One of the leading companies on forex trading, Alpari has called on Nigerians to venture into currency trading and take advantage of the opportunities that are bound for wealth creation. Speaking during a training organised by Alpari on forex trading, the CEO Alpari Research and Analysis, United Kingdom, Roberto Ambrosio, said the company embarked on the training to educate, equip interested participants on the nitty gritty of forex market. He said the forex market is the kind of market that can be traded in any condition regardless of the volatility of the market, saying that unlike the stock market, one can still make money from the forex market regardless of the direction of the market. “There is a lot of interest, a lot of curiosity to understand more about this market and also unfortunately what has gone wrong when they tried it before and this is one of the biggest reasons why we here in order to share our experience, our knowledge in order to give more information to the people so that they can approach this market with knowledge without making the mistakes that are usually made when you start trading and also to give them to tools in order to make informed decisions, when they do their investment, trade or forex or whatever kind of investment they want to do. “It is one of the financial market that can be traded in any condition, nowadays we are experiencing sparky volatility of stock and some currencies have been volatile, like stock for example in which you can make money only

when the stock rise, in the currency market on the spot market, you can make money whatever the direction of the market is, of course you have to have the tools to manage this volatility properly and get the right direction or limit your losses when the direction you are trading is wrong,� Ambrosio said. Also, the Marketing and Partnership Manager, Stephen Abanobi, said the forex industry in Nigeria has been in existent for less than 10 years, saying, “I am proud to say that Alpari has been one of the first companies to bring forex into the country, we opened here in 2010, and we have been operating then till now.� According to him, “Alpari have had clients coming on and increasing from year to year, and currently worldwide we have over 20 million clients. “In Nigeria alone, we keep growing, this event we have will continue to bring awareness to people who want to invest or trade the forex market, a lot of people are beginning to believe that this is an industry where they can actually have legitimate financial transactions for profit sake and its true lay a veritable platform to actually gain financial independence. “And I believe that Nigerians are happy that the likes of companies of Alpari are here, a reliable broker, and through companies like ours they are able to trust other brokers, and still till today, we proud to say that we are number one�. One of the trainees, Ovie Oyaigbevwen said the reason for his participation was to get the skills on how to detect when it is important to invest in the forex market and when to exist from the market.

130TH ANNIVERSARY CELEBRATION

L-R: Vice President/Chairman, Public Affairs and Advocacy Committee, Lagos Chamber of Commerce and Industry (LCCI), Mr. Sola Oyetayo; Deputy President, Mr. Knut Ulvmoen; President, Mr. Babatunde Ruwase and Deputy President/ Chairperson, Finance and General Purpose Committee, Mrs. Toki Mabogunje, at the LCCI 130th anniversary dinner held in Lagos‌recently ETOP UKUTT

Sustainable Institutions are Built on Corporate Governance’ Ugo Aliogo Strong corporate governance has been adjudged to the central in building sustainable institutions in public and private sector respectively. Speaking at the Institute of Directors’ Nigeria (IoD) 2018 Fellows’ Night and Investiture with the theme: ‘Building Sustainable Institutions,’ held in Lagos recently, the Group Managing Director, Custodian Investment Plc, Mr. Oluwole Oshin, said sustainable institutions address the interwoven mix of managerial decision influenced by financial and environmental and social indices. He also noted that sustainable institutions bring more financial

values, measures how its action impacts the environment and actively work on reducing it, adding that they also care about employees, customers and communities. Oshin, further stated that for organisations to build sustainable institutions; there is need address corporate governance, people and skills, culture, inclusiveness and inequality. “Enduring institutions are built by selfless committed and dedicated and focused leaders. Successive leaders of sustainable institutions are therefore expected to be an embodiment of integrity. “Another ingredient is governance. A sustainable institution is built around good governance or good corporate

governance. I am referring to both the public and private sector. The benefits of good governance are innumerable ranging from corporate successes to investor confidence, minimisation of waste and corruption, risk management and positive brand reception. “Those are some of the key benefits; government must be principled based and not subjective,� he noted. The Custodian Investment boss explained that enduring institutions are governed by effective constitutional, regulatory and legal framework drawn up by its board of directors. According to him, organisational guidelines must be distilled down the hierarchy of any organisation in order to ensure buy-in of staff.

He added that the recently exposed code of corporate governance draft was a sign that the code was set out to address most of the challenges faced on the journey to building sustainable institutions. He however stated that it would be good to also consider a home-grown code that aligns with Nigeria’s culture and level of development. According to him: “A one-sided fits all code may not be the best for us since most industries are young and companies are mini-small and medium size run by entrepreneurs. “They would probably require a code with a development orientation, one which seeks to directly balance governance objective and growth.�

Anambra Plans N1.5bn Investment on Land Development Anambra State government is planning to invest the sum of N1.5 billion to develop over 5000 hectares of land within communities in the state. Governor Willie Obiano who disclosed this, added that N383, 385,000.00 had been set aside for facilities to small holder farmers through Anambra State Small Business Agency (ASBA) and N195, 000,000 for procuring agricultural inputs this planting season. Obiano stated this recently at the opening of the 2018

Anambra International Trade Fair and the flag off the 2018 Dry Season Farming, in Awka, further disclosed that plans were on “to access the N3.5 billion Central Bank of Nigeria facility for Commercial Agriculture Credit Scheme (CACs) and Accelerated Agricultural Development Scheme (AADS). “We are currently developing other agricultural schemes with NIRSAL to ensure that the set targets on rice, cassava and fish value chains are achieved.� Abiano also stated that the state

has registered over a 1,000 new farmers in the first seven months of 2018, bringing the total number of farmers from 109,137 in 2017 to 110,144. The governor also disclosed that rice production rose from 244,235 metric tons in 2016 to 345,000 metric tons in 2017 and is expected to stand at 440,000 metric tons by the end 2018, while cassava production shot up from 1,792,596 in 2016 to 1,881,589 metric tons in 2017 while maize production increased from 39,902 to 43,521 metric tons in

the last planting season even as land utilization also increased in the period under review due to the influx of more people into agriculture. Agriculture is the number one pillar in Obiano’s administration, because it has very high potentials for empowerment and employment generation, food security and poverty reduction. On assumption of office, Obiano unfolded a master strategy to transform the agricultural sector into a leading player in national and global food markets.

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‘Public-Private Sector Investment Vital to Achieving Food Security’ Ugo Aliogo The Managing Director, BASF West Africa Limited, Jean-Marc Ricca, has said public-private sector partnership remains vital in achieving food security in the country. Ricca, disclosed this in Lagos recently, at the BASF’s Food Innovation Cluster Stakeholder Workshop, organised to foster partnerships, promote cooperation and commitment along the food value chain. He stated that innovations

would impact how the world would feed the growing population amidst decreasing natural resources, soil degradation and climate change. He also stated that the government, private sector and international organisations needed to collaborate to ensure sustainable food security, adding that these stakeholders should work together to produce multifaceted solutions. “The key to ensuring food security lies in public-private partnerships. Innovations will

impact how the world will feed the growing population amidst decreasing natural resources, soil degradation and climate change. “The government, private sector and international organisations need to collaborate to ensure sustainable food security. These stakeholders should work together to produce multi-faceted solutions.� Ricca, further stated that from production, processing, storage and transportation of food, improvements need to be made to ensure food safety

and quality during processing and ensure minimum waste. In his remarks, the Director Food Fortification and Partnerships at BASF West Africa, Andreas Bluethner, noted that at BASF, they were working with stakeholders along the food value chain to provide innovative products and solutions to ensure high yields during production; food fortification ingredients to enhance nutrition value of food and cold chain solutions to address food wastage. According to Ricca, “We look

at challenges as possibilities. If you look at the negative side of Nigeria, you will only see problems, but if you look at it positives, there are so many opportunities. “It is a tough business environment, it is complex and sometimes it is hostile, but the outlook is positive and this year was bit tough, but it does not change our commitment to the Nigerian business environment. “Despite the difficult economic circumstances, we opened in February this year, the first

ethnic hair care laboratory in Africa here in Lagos. We have to continue to invest and focus and value creation in Nigeria.� He said in a tough business environment like Nigeria, organisations must have the right skill set in the industry. He said the food innovation cluster was a platform for people seeking or offering solutions in the food value chain to exchange, network and partner to improve business sustainability and food security globally.

NIPCO IntensiďŹ es Plan for Nigeria’s Deforestation Peter Uzoho NIPCO Plc has heightened plots to weaken deforestation rocking parts of Nigeria with multi-million dollar investments. The Managing Director of NIPCO, Mr. Sanjay Teotia, disclosed this in Abuja, at the 8th Annual International Conference and Exhibition organised by the Nigerian Liquefied Petroleum Gas Association (NLPGA), saying “this is being done through NIPCO’s huge investments in cooking gas sub-sector.â€? Teotia said the feat has not only created lots of awareness on the benefits of gas as domestic cooking fuel, but has also served as drawback to deforestation in the country. While throwing the company’s weight behind the federal government’s agenda to grow the LPG sub-sector, he promised continuous and deliberate efforts in supporting government’s genuine desire to make LPG domestic cooking fuel of choice among the populace. Teotia said: “We diversified in the gas realm in 2009 with the inauguration of a stateof-the-art LPG plant in Lagos with a total storage capacity of 4,800MT spread across three spheres and a three-point loading gantry.

“As at the time of its inauguration, it was the biggest LPG storage in the country thus creating veritable avenue to store gas and distribute effectively with the scores of LPG trucks commissioned by the company.� According to him, in 2017, the company improved on its storage capacity and other LPG infrastructures in a bid to meet growing LPG stakeholders’ interest. He stated that NIPCO inaugurated the biggest LPG single sphere in Africa with a capacity of 5,600MT and increased the loading arms in the gantry to five in a bid to ease loading of trucks for onward distribution of the product to all the nooks and crannies of the country. Teotia added: “Today, NIPCO controls a major share of the LPG market with its massive storage facilities and other infrastructures put in place to aid access to the product by the populace. “The peerless service being provided by the company has made it depot of choice by many bottling plants and others in the business of LPG. “The improved storage facility and product reception at the terminal has been a major boost in the effective turnaround of LPG vessels berthing at the Apapa jetty.�

Smile,Taxify Collaborate to Boost Driver-Rider Experience Nosa Alekhuogie Smile Communications Nigeria is set to enhance the experiences of Taxify drivers and their riders through a strategic partnership deal with Taxify. The move was designed to improve internet connectivity on trips with 4G LTE, that would also help drivers reduce operating cost on every trip. The partnership, which is available to all registered drivers across Nigeria, offers them the opportunity to own a Smile device bundled with a bespoke data plan at an affordable rate. The service would also include free in-car superfast broadband internet access to improve rider’s experiences on the go. Announcing the partnership in Lagos recently, the General

Manager, Sales and Distribution at Smile Nigeria, Onamari Horsfall, said: “This partnership is very exciting for both organisations. It combines the innovative services that empower Smile customers to stay in touch with loved ones and achieve more, with Taxify’s reliable and safe rides necessary for passengers to commute.� Country Manager for Nigeria at Taxify, Uche Okafor, said: “The strategic partnership with Smile is consistent with our mission to be the best way to move within the country. Better internet access equals a more reliable and rewarding service both on the driver end and the rider end and this partnership will be instrumental to help guarantee an overall better experience for everyone within the Taxify ecosystem.�

COURTESYVISIT

L-R: Immediate Past President, Chartered Institute of Bankers of Nigeria(CIBN), Prof. Segun Ajibola; Chairman of the Council, Bank Directors Association of Nigeria (BDAN), Mrs. Osaretin Demuren; President, CIBN, Dr. Uche Olowu and BDAN Council Secretary, Dr. Jude Monye, during a courtesy visit by BDAN to CIBN in Lagos ‌recently SUNDAY ADIGUN

Total E&P Cooperative Society Organises Entrepreneurship Programme Oluchi Chibuzor As part of its corporate social responsibility (CSR), Total E&P Multipurpose Cooperative Society in partnership with Junior Achievers Nigeria has organised and entrepreneurial programs for primary and secondary schools in Lagos and Port-Harcourt respectively. The programme was designed to help them explore their potential as self-starters and innovators. According to a statement signed by Head of Legal Compliance and Communications, Total E&P Nigeria, Staff Multipurpose Co-operative Society, Henry Hector-Amiwero, the company

through the cooperative was committed to implementing a growing number of community outreach initiatives, with a focus on entrepreneurship. The statement revealed that with the partnership, both organisations are committed to developing and implementing programs to help students become entrepreneurial thinkers and ready in other to develop thriving ideas that culminate into business ventures. It also stated that that the “entrepreneurial program introduces secondary school students to the essential elements of entrepreneurship, business plan and then challenges them to start ventures while still in

high school. “Students learn about advertising, competitive advantages, financing, marketing, and product development that makes them self-starters and innovators.� According to Hector-Amiwero, who noted that employees of Total E&P Nigeria Staff Cooperative Society had been trained by staff of JAN Nigeria on the entrepreneurial modules, said the training enabled them to transfer necessary skills to the various schools selected for the initiative. According to him, “the entrepreneurial journey with students of Ekate Grammar School Lagos and Holy Rosary College, Port -Harcourt kicked off in September and

was concluded on the 22nd of October. “During our visits to classrooms, volunteers and role models, through a variety of experiential activities with the students, to help them better understand the relationship between what they learn in school and their successful participation in a global economy, were exposed to realities of 21st century with entrepreneurship as the driving force.� Meanwhile, the Executive Director, Junior Achiever Nigeria, Simi Nwogwugwu, expressed gratitude to the staff of Total E&P Cooperative society limited for working with them to raise future meticulous business leaders.

Osinbajo Commends Air Peace, FEHN over Fight againstViolence Vice President Yemi Osinbajo has commended Nigeria’s leading carrier, Air Peace and its sister organisation, The Foundation for Ethnic Harmony in Nigeria (FEHN), for their commitment to efforts to stamp out gender-based violence in the country. Speaking at the opening ceremony of the National Conference on Sexual and Gender Based Violence Response in Nigeria held in Abuja recently, Osinbajo said he was pleased that Air Peace was on board the campaign to protect women, children and other vulnerable members of

the society from violence. The vice president presented a joint award to FEHN and Air Peace for their partnership with the “government and people of Nigeria on gender based violence.� The award was received by the Chief Operating Officer of Air Peace, Mrs. Oluwatoyin Olajide, who pledged that the airline and its not-for-profit organisation, FEHN would continue to seek ways to support the federal government in its projects aimed at protecting vulnerable members of the society. Delivering a goodwill message

at the conference, the Assistant Procurement Manager of FEHN, Mrs. Motunrayo Boladale, commended Osinbajo and his team for rising in protection of women, children and other vulnerable members of the society through the National Conference on Sexual and Gender Based Violence Response in Nigeria. She urged strategic action against gender-based violence, saying FEHN and AIr Peace were battling the scourge through training, empowerment of women by tasking them with sensitive positions and creation

of job opportunities to take the focus of members of the society from violence and other crimes. “The reality of gender-based violence in this age is one that continues to wear frail not only the societal fabric of the African continent, but also the entire world. Unfortunately, in recent years the trajectory of cases of domestic violence, sexual exploitation, early marriage and rape of minors in Nigeria has become rather alarming. Sadly, majority of the victims operate in such vulnerable state that there is the possibility of a recurrence.

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‘Revamping Seaports, Harmonising Charges, Critical for Nigeria’s Growth’ Oluchi Chibuzor As the Lagos Seaports currently battles with congestion, some stakeholders in the maritime industry have beckoned on the government to develop other major seaports in the country to properly distribute business across the ports. This they stated would allow market forces to determine various tariffs and rates charged by the regulatory bodies operating in the Industry. Speaking at the Maritime Business Roundtable Breakfast Meeting, tagged; “Tariffs and Rates as Stimulant of Growth for the Nigerian Economy,� held in Lagos, the Chairman, Zoe Maritime Resources Limited, Mrs. Oritsematosan EdodoEmore, said tariffs and rates are used by governments in many jurisdictions to advance their nations economic interest. Activities in other ports, she stated, would create competitiveness which is lacking in the industry and reduce over-reliance on the Lagos ports. This, she also said would increase Ease of doing Business around the seaports, saying government agencies should focus on facilitating trade rather than their current philosophy of generating income only at the detriment of overall masses who bear the charges. According to her, “As a developing nation in a global economy, Nigeria needs to understand how to use all the tools available at her disposal to advance her economic interest and to develop the nation maritime industry one of the tools is tariffs and rates, thereby stimulating export and protecting local industries from the effects dumping.� In her keynote address, the

Lagos State Commissioner of Commerce, Industry and Cooperatives, Mrs. Olayinka Oladunjoye, who was represented by the Director of Industry, Lekan Ogunbowale, noted that the theme was currently an issue within the maritime industry. She stressed the need for stakeholders to take advantage of global developments to drive international business traffic into Nigeria as bases for foreign investment in the African continent. She said optimal use of resource remains a catalyst for growth of the Nigerian economy stressing that, “not doing so is a source of concern as it impacts on operators in different ways, while it equally serves as a veritable tool of revenue generation to the government, this is the time to optimally utilise our resources towards building a virile and sustainable maritime sector. “There are no doubts that internal and external policies and infrastructural development would normally have impact on the growth pattern, hence there is need to explore ways in which the maritime sector can be positioned as driver of economic development.� She explained. The Chairman, Genesis Worldwide Shipping Limited, Captain Emmanuel Ihenacho stressed the need to build infrastructure to sustain the already stretch facility in Lagos ports that has been in usage over forty years and counting. Meanwhile, representative of the Executive Secretary, Nigerian Shippers Council, Mrs. Margret Ogbonna, said, “there is need kick off other ports and infrastructural development to cope with the dynamic nature of the industry.

Stakeholders Seek Special Ministry for Maritime Sector Eromosele Abiodun Following the huge potential that the maritime industry holds, some stakeholders have called on the National Assembly to champion a complete reform of the maritime sector by sponsoring and enacting a bill that will lead to the creation of Ministry of Maritime Industry (MoMI). When created, the stakeholders said the ministry, would assist the federal government to restore the lost glory of shipping and maritime sector of the economy. Speaking at a forum organised by the Senate Committee on Marine Transport in collaboration with the Federal Minister of Transport in Lagos, the founding president of the Nigerian Chamber of Shipping (NCS), Mr Olisa Agbakoba and other stakeholders urged members of

the National Assembly to impress it on the federal government to create a special ministry for the maritime sector and introduce other reforms that will bring about efficiency and productivity at the nation’s sea ports. Agbakoba, a front line maritime lawyer also bemoaned the collapsed of the ports access roads and decried the situation, which has resulted to additional transportation costs as a result of inaccessibility to the ports, which warranted demurrage on both empty and loaded containers. According to him, “What we need is appropriate policy mechanism and appropriate legal framework and appropriate institutions. We really do not need the maritime industry under the ministry of transport; what we need is a ministry of shipping.� While narrating the trouble people were facing going and

coming from the Lagos ports, Agbakoba urged members of the committee and the federal government to direct the contractor handling the Ijora bridge to fix the failed section of the bridge to reduce the hardship. On her part, the Chairman, Seaport Terminal Operators Association of Nigeria (STOAN), the umbrella body of terminal operators in the country, Vicky Haastrup, said that the closure of a section of the Ijora Bridge, which links Apapa to other parts of the Lagos metropolis through the Wharf Road, contributed significantly to the problem of quick cargo clearance from the ports. Terminal operators, she said, were facing serious challenges in paying their workers because of the numbers of days it takes to berth vessel at their terminals because of the gridlock.

Also speaking, the Chairman of Port Consultative Forum, Kunle Kunle and other speakers at the event suggested improvement in infrastructure and service delivery, among others, as a way of getting better overall productivity in the industry. The Director -General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr Dakuku Peterside; the Executive Secretary, Nigerian Shippers Council (NSC) Mr Hassan Bello and Managing Director Nigerian Inland Waterways (NIWA), Olorunnibe Mamora, commended the committee for bringing legislative matter to the door step of Nigerians. The committee members, the trio said, deserved commendation based on their patriotic and pragmatic approach to issues of national interest.

Itex Targets 30% Market Share on Payment Solutions, Expands Services NEW AIRLINE UNVEILED Emma Okonji Itex has said it will surpass 30 per cent market share of the country’s payment solutions, given its new business model for service expansion. This followed its successful partnership with the Central Bank of Nigeria (CBN) and the Nigerian Interbank Settlement System (NIBSS), on the initial implementation of an interoperability platform for the successful cashless Nigeria rollout that resulted in the digital connection of over 220,000 Point of Sales (PoS) machines across the country. Announcing its expansion plan and and its new brand identity in Lagos recently, its Managing Director and CEO, Mr. Ernest Uduje, listed some of its expanded service offerings from payment channels to include PayVice, TAMS, Internet Payment Gateway, Afrimart and other bespoke services for its clients. According to him, “The Itex POS terminal application software is highly robust, with extreme flexibilities that allows for customised transactions (both traditional and digital) required by merchants or acquirers. Itex has an extensive client

portfolio spanning 19 African countries, with more than 67,000 POS terminals deployed to merchants, commercial banks, agent network, transnational corporations and governments across Africa. “The PayVice is a valueadded service, which includes an electronic wallet system that enables funds transfers, utility, transport and logistics bill payments. PayVice also enables QR Code payments. “Itex’s Terminal Application Management System (TAMS) platform, is ahighly robust and multifunctional e-commerce platform with features including EMV cards switching and processing capabilities, as well as digital payment channels with features like QR code payment, reporting and automated fraud prevention systems, while Itex Internet Payment Gateway is a platform for processing online payments for online retailers, omni channels or traditional brick and mortar stores. “Afrimart is a platform designed to create new business opportunities for African SMEs and general merchants on the quest for growth and expansion by creating visibility and accessibility to African buyers and suppliers.�

L-R: Board members, Quorum Aviation, Nnamdi Udoh; Captain Dapo Olumide; chairman, M.D. Abubakar; Managing Director, Abiola Lawal and Company Secretary, Sade Doherty, at the unveiling of the board and management of the airline in Lagos‌recently

Enelamah Calls for Collaboration to Enhance Ease of Doing Business The Minister of Industry, Trade and Investment, Dr. Okechukwu Enelamah, recently reiterated that the current administration believes a conducive business environment is crucial to achieving the government’s diversification agenda. He pointed out that even though significant milestones had already been recorded, the greatest effect would only be possible with the active collaboration of state and local governments. Enelamah, was quoted in a statement, to have said this at the 10th meeting of the National Council on Industry, Trade and Investment, with the theme, “Ease of Doing Business: The Role of States and Local Governments,� which took place in Abia State. He pointed out that President Muhammadu Buhari had shown strong political will by establishing and supporting the Presidential Enabling Business Environment Council (PEBEC)

with an ambitious mandate of removing constraints and bottlenecks in doing business in Nigeria and by signing the Executive Order 001 which promotes transparency, default approvals and one government. The minister took stock of some of the successes recorded by the government so far in diverse areas. “Business registration in Nigeria can now be concluded within 48 hours with the automated platform by the Corporate Affairs Commission (CAC),� he said. On trading across borders, Enelamah listed some of the completed reforms to include reduction in import documentation requirements from 14 to 8 and export documents from 10 to 7, introduction of advance cargo manifests and scheduling of joint physical examination anchored by the Nigerian Customs Service. Other reforms, according to him, included the passage

and signing into law of two bills to ease access to credit for MSMEs. “These two Bills are the Secured Transactions in Movable Assets Act 2017 and the Credit Reporting Act 2017,� Enelamah said. He stated that the Bank of Industry (BOI) had “reviewed its credit processes to customers with a view to reducing the turn-around time associated with loan applications and approvals. “BOI has also reformed loan application process to provide clear and easily accessible information to the public on processes, timelines, fees and conditions. “Technologies were deployed to improve service delivery in the Ministries in the areas of SME platform, digitizing and simplifying the provision of government services. Examples include Commercial Law Department in our Ministry, digitising One Stop Investment

Centre and Pioneer Status Incentives Processes at the Nigeria Investment Promotion Council,� he said. Enelamah also disclosed that the federal government on 27th July, 2018 issued a directive, compelling all Ministries, Departments and Agencies to comply with the Ease-of- Doing Business Reforms. “These reforms are beginning to yield positive results on the World Bank’s Ease–ofDoing Business ranking. The World Bank also ranked Nigeria during the first three years of President Buhari’s Administration as one of the 10 most reforming and improved economies in the World,� he said. The minister said the next frontier of these reforms can only work with the active collaboration of state and local governments who need to come up with relevant Doing Business reforms.

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M O N DAY Ëž DECEMBER 10, 2018

BUSINESS/MONEYGUIDE

CIBN Accredits UBA, Unity BankTraining Schools Oluchi Chibuzor The Chartered Institute of Bankers of Nigeria (CIBN) has given Certificate of Accreditation to the United Bank for Africa (UBA) and Unity Bank’s training schools respectively. Speaking at the ceremony which tok place in Lagos recently, the Group Head, Human Resources, UBA, Patricia Aderibigbe, said the bank was already preparing for the fourth industrial revolution currently disruptive in nature. She said: “We are committed to developing our teaming 15,000 staff through various programmes that encourage learning on the job,� adding that with the bank going full digitisation, there was need for enhanced capacity building. Aderibigbe said UBA was the first to introduce artificial banking in Nigeria, saying UBA is constantly innovative to meets

the demands of the industry. According to her, “We are the only bank in 23 countries in Africa, and the only African bank in the United States of America, the accreditation is an opportunity to keep us on our toes because we are never resting on our laurels and the biggest room anywhere is the room for improvement.� For Unity Bank, since the emergence of the new board and management, the financial institution has continued to push the limits of its transformation and growth agenda to new heights. A statement from the bank said the accreditation was one of its management’s efforts towards building competitive workforce that are capable of delivering effective and efficient services to its numerous customers. Commenting on the feat, the Managing Director/Chief Executive Officer, Mrs. Tomi Somefun, said in view of the ever-evolving

financial technology landscape, fuelled by advances in mobile technologies, there was a growing need for continuous capacity development in order to meet the demands of increased customers’ sophistication. She explained: “While the bank is focusing on retail and SMEs and the technology to drive and encourage savings culture, it is also developing its workforce through continuous capacity building initiatives. “This is in line with the two-pronged customer-centric banking approach being deployed to deliver quality banking services to SMEs in the agricultural value chain.� Speaking at the occasion, President/Chairman of Council, CIBN, Mr. Uche Olowu, congratulated both banks. “You deserve the accolades for making it through the rigorous and painstaking processes of Accreditation and linkage respectively.

L-R: Chairman, itex Integrated Services Limited, Dr. Frederick Igbinedion; MD/CEO, Ernest Uduje; Head Sales and Marketing, Ibiyemi Okuwoga and Senior Software Developer, Sanusi Segun, during a media briefing to announce the company’s expansion in Lagos...recently

SekiboAdvocates Legislation on Funding for Creative Industry The Managing Director/ Chief Executive, Heritage Bank Limited, Mr. Ifie Sekibo, has called for appropriate legislation that will enhance flow of funds to the creative industry and help maximise the potential of operators in the industry. Sekibo, made this call while speaking on the contributions of Heritage Bank to the creative industry. He said: “Financial institutions will be able to invest more if there is a proper law militating against piracy, there will be value for your money and creativity and thereby making the banks to want to invest more in the creativity industry.� He noted that collaboration

between the government and banks was needed to maximise the potential of the creative industry. A statement quoted him to have explained: “We need to push government to be able to create legislations, policies that will enhance this seeming passion and turn it into business opportunities and by so doing, it will turn to economic and empowerment of our people. “There is a lot we need to do as banks and government so that we can enhance creativity in terms of culture. “Government policies are extremely important in achieving this. If there are no proper policies, funding becomes a problem.

“And the collaboration between banks and government is needed to define what kind of policy and what kind of funding needs to applied. These and many more are things to look at critically. “Take for example, Nollywood script writer that has no proper propriety or intellectual property law protecting his script, he is unable to monetise it. “But if there is proper government policy, then he is able to take it to the bank and monetise it and he is able to grow the industry. “This cuts across, even if it is an artist and there is no law or policies guarding artworks, anybody can steal and sell his ideas anytime.�

Agusto & Co Assigns Crownrise Finance B+ Agusto & Co has assigned a B+ rating on Crownrise Finance Plc. The rating according to Agusto & Co was supported by the adequate capitalisation of Crownrise Finance Plc. Agusto & Co also attached a “positive outlook� to the rating based on the expected improvement in the funding profile, increased earnings and profitability of Crownrise Finance Plc. “This also represents a positive outlook for investors in our medium term investment and funds placement products,� the Managing Director/Chief Executive, Crownrise Finance Plc, Mr. Babatunde Rufai-Lariba said. Crownrise Finance Plc is one of Nigeria’s first generation finance companies licensed in

1992 by the Central Bank of Nigeria (CBN). Following the industry challenges triggered by the 2008/2009 global economic meltdown, the company emerged with a capital base well above industry threshold and now operates from its recently acquired Corporate Head Office in Lagos. While the B+ rating affirms the impact of recent efforts of the company’s Board of Directors, led by Mr. Jonathan Babalola, a former Director of Other Financial Institutions Department of the Central Bank of Nigeria (CBN), to reposition the company to play critical role in the rejuvenation of the country’s economy, Agusto and Co, however, stated that the rating was constrained by some structural framework issues,

including weak funding profile. Commenting further, RufaiLariba, said: “The current board is committed to positioning the company as a leader in financing SMEs for profitable contribution to the economy while ensuring sound corporate governance and strong risk management practices, which commenced with raising the company’s capital base above the regulatory threshold. “Having achieved capital base above the regulatory threshold, the board and management have commenced implementing strategic measures to strengthen the risk management framework and enhance management capacity by recruiting highly experienced professionals with sound track record of performance.

Leo Burnett Wins NB Account In a keenly contested multiagency pitch, a Lagos based advertising agency, Leo Burnett Lagos has emerged winner of the highly coveted Nigerian Breweries Below-the-line (BTL) design account. Nigerian Breweries is the leading brewery firm in Nigeria with over 32 brands in its portfolios. Leo Burnett was said to have won the creative development account of the brewery giant effective November 2018. Feedback from the pitch indicated that Leo Burnett Lagos demonstrated a

clear understanding of the target audience as shoppers and not just as consumers in designing trade channel communications that focused on Premium and Modern Trade. Nigerian Breweries was impressed with the agency outing and therefore, congratulated Leo Burnett for its understanding of the brief. A Nigerian Breweries representative who pleaded anonymity said, “We appreciate the quality of work presented and look forward to a fulfilling

partnership with Leo Burnett.� While expressing optimism over the business, the Chief Operating Officer of Leo Burnett Lagos, Lekan Lawal said, “We are both thrilled and honoured to be partnering with Nigerian Breweries as we collaborate in deepening the tremendous affinity of their brands in Nigeria through a thorough understanding of the consumers, using our proprietary ‘Arc’ shopper marketing tool that allows us understand people not just as consumers, but as shoppers.�

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

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OPEC DAILY BASKET PRICE AS AT THURSDAY, 6 DECEMBER 2018

The price of OPEC basket of ďŹ fteen crudes stood at $58.79 a barrel on Thursday, compared with $60.08 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), ZaďŹ ro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela SOURCE: OPEC headquarters, Vienna

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M O N DAY ˾ DECEMBER 10, 2018

MARKET NEWS

Renewed Demand Lifts Diamond Bank Shares by 57% in Five Days Goddy Egene Renewed demand for the shares of Diamond Bank Plc last week bolstered its price by 56.92 per cent, from a low of N0.65 to N1.02. The lender, which got approval of the Central Bank of Nigeria (CBN) to operate as a national bank, had suffered serious value erosion following speculations of its likely acquisition by one of its peers in the industry.

However, the speculations were denied by the financial institution, a development that was followed by the approval its application by CBN to convert from an international bank to a national bank. And in apparent positive reaction to these developments, some investors increased their demand for the shares of Diamond Bank Plc. Consequently, the stock recovered by 56.92 per cent to lead other price gainers’ chart

P R I C E S MAIN BOARD

F O R DEALS

for the week. The bank had said in a statement that its re-licencing as a national bank, “supports Diamond’s objective of streamlining its operations to focus resources on the significant opportunities in the Nigerian retail banking market, and economy as a whole.” According to the bank, the move follows its decision to sell its international operations, which included the disposal of

S E C U R I T I E S

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

its West African Subsidiary in 2017 and Diamond Bank UK, the sale of which is currently in its final stages. “The change to national bank status also enables the bank to maintain a lower minimum capital requirement of 10 per cent as against 15 per cent required for international banks. This creates room for the bank to deploy more capital for stronger growth in the quarters ahead through additional investment in

T R A D E D MAIN BOARD

A S

technology platforms, customer acquisition and expansion of loans to the critical sectors of the economy.” Commenting the Chief Executive, Diamond Bank Plc, Mr. Uzoma Dozie, said: “The move to a national banking license marks a continuation of our strategy to focus on Nigeria’s significant fundamental trends, including a large underbanked population and Africa’s biggest economy.

O F

By focusing and optimising our resources towards Nigeria and the priority area of retail banking, we will be better positioned for longer term growth and greater profitability. “The reduction in minimum capital requirement also increases our capacity to expand the quantum of business and product services we can offer consumers, as well as representing a key step in strengthening our financial position.

0 6 / 1 2 / 2 0 1 8 DEALS

MARKET PRICE

QUANTITY TRADED

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˾ MONDAY, DECEMBER 10, 2018

40

Monday, December 10, 2018

THISDAY AFRINVEST 40 INDEX

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Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index Price Previous Current Current Price Change Change Price Weightin ROE Price YTD Index to Change g Date

Performance of the local bourse was slightly bearish this week as Ticker

sell-ŽīƐ ŝŶ ŵĂƌŬĞƚ ďĞůůǁĞƚŚĞƌƐ ŵĂƌŐŝŶĂůůLJ ƐƵƌƉĂƐƐĞĚ ƚŚĞ ďĂƌŐĂŝŶ ŚƵŶƟŶŐ ĂĐƟǀŝƟĞƐ ǁŝƚŶĞƐƐĞĚ ŝŶ ŵŽƐƚ ŽĨ ƚŚĞ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶƐ͘

-15.6% 30.1%

P/BV

Divinden Earnings d Yield Yield

6.7% 12.7%

20.8%

7.4%

5.9x

0.7x

1

Guaranty Trust Bank PLC

34.90

-0.3%

21.8%

-14.4%

-13.9%

34.1%

5.6%

5.2x

2.0x

7.7%

19.2%

ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶƐ ŝŶ ƚŚĞ ǁĞĞŬ͕ ƚŚĞ ůů ^ŚĂƌĞ /ŶĚĞdž ; ^/Ϳ

2

Zenith Bank PLC

23.55

0.2%

14.2%

-8.2%

-9.2%

23.7%

3.4%

4.0x

1.0x

11.8%

24.7%

Nigerian Breweries PLC

80.00

0.0%

ĚĞƉƌĞĐŝĂƚĞĚ ϮďƉƐ t-o-t ƚŽ ƐĞƩůĞ Ăƚ ϯϬ͕ϴϲϲ͘ϴϮ ƉŽŝŶƚƐ͘ /Ŷ

3

6.3%

-40.7%

-40.8%

13.8%

6.4%

26.8x

3.8x

4.7%

3.7%

4

Nestle Nigeria PLC

1,549.00

4.7%

9.5%

-0.4%

-0.4%

85.8%

26.3%

28.0x

21.8x

3.1%

3.6%

5

Dangote Cement PLC

184.00

-0.5%

5.9%

-20.0%

-20.0%

20.1%

9.8%

19.2x

4.1x

5.7%

5.2%

6

FBN Holdings Plc

7.60

-0.7%

5.7%

-13.6%

-13.5%

6.6%

0.8%

5.4x

0.4x

3.3%

18.4%

ĐĂƉŝƚĂůŝƐĂƟŽŶ ĚĞĐƌĞĂƐĞĚ ďLJ EϮ͘ϳďŶ t-o-t ƚŽ Eϭϭ͘ϯƚŶ͘ dƌĂĚŝŶŐ

1,301.39 0.11%

P/E

ůƚŚŽƵŐŚ͕ ƚŚĞ ďĞŶĐŚŵĂƌŬ ŝŶĚĞdž ƉŽƐƚĞĚ ŐĂŝŶƐ ŽŶ ϯ ŽĨ ƚŚĞ ϱ

ĂĚĚŝƟŽŶ͕ zd ƌĞƚƵƌŶ ŵŽĚĞƌĂƚĞĚ ƚŽ -ϭϵ͘ϯй ĂŶĚ ŵĂƌŬĞƚ

THISDAY AFRINVEST 40

ROA

7

Access Bank PLC

7.45

2.1%

3.8%

-28.7%

-29.7%

14.1%

1.7%

3.1x

0.5x

8.7%

32.3%

ĂĐƟǀŝƚLJ ǁĞĂŬĞŶĞĚ ĂƐ ĂǀĞƌĂŐĞ ǀŽůƵŵĞ ĂŶĚ ǀĂůƵĞ ƚƌĂĚĞĚ

8

United Bank for Africa PLC

7.50

-3.8%

3.8%

-27.2%

-28.0%

15.4%

1.8%

3.4x

0.6x

11.2%

29.4%

ĚĞĐƌĞĂƐĞĚ ďLJ ϳ͘ϲй ĂŶĚ Ϯϭ͘ϲй t-o-t ƚŽ ϮϮϭ͘ϰŵ ƵŶŝƚƐ ĂŶĚ

9

Ecobank Transnational Inc

15.50

-3.1%

3.6%

-8.8%

-4.7%

12.1%

1.0%

4.9x

0.6x

SEPLAT Petroleum Development C

598.90

0.0%

EϮ͘ϮďŶ ƌĞƐƉĞĐƟǀĞůLJ͘ dŚĞ ƚŽƉ ƚƌĂĚĞĚ ƐƚŽĐŬƐ ďLJ ǀŽůƵŵĞ ǁĞƌĞ

10

3.5%

-2.0%

-4.4%

25.9%

15.3%

2.6x

0.6x

3.1%

38.2%

11

Stanbic IBTC Holdings PLC

46.50

-1.1%

3.9%

12.0%

13.7%

35.7%

4.6%

6.9x

2.2x

2.2%

14.5%

& E, ;Ϯϲϴ͘ϵŵ ƵŶŝƚƐͿ͕ & D ;ϭϯϯ͘ϵŵ ƵŶŝƚƐͿ ĂŶĚ / DKE E<

12

Unilever Nigeria PLC

38.90

0.0%

2.9%

-5.1%

-3.3%

24.7%

11.5%

18.1x

2.7x

1.3%

5.5%

13

Guinness Nigeria PLC

73.00

0.0%

2.1%

-22.3%

-22.3%

8.8%

5.0%

19.6x

1.8x

2.5%

5.1%

14

Lafarge Africa PLC

12.50

0.0%

0.5%

-72.2%

-72.2%

-53.7%

-7.9%

0.8x

12.0%

-51.9%

15

Fidelity Bank PLC

1.92

-1.0%

1.2%

-22.0%

-25.6%

11.3%

1.5%

2.5x

0.3x

5.7%

39.9%

16

Oando PLC

5.15

0.0%

1.3%

-14.0%

-14.0%

10.9%

1.7%

4.3x

0.3x

17

Dangote Sugar Refinery PLC

13.50

3.1%

0.9%

-32.5%

-33.7%

32.6%

16.4%

5.4x

1.6x

13.0%

18.6%

18

Okomu Oil Palm PLC

72.00

0.0%

1.4%

6.4%

6.4%

39.3%

29.7%

6.9x

2.4x

4.2%

14.6%

19

International Breweries PLC

29.45

0.0%

0.5%

-46.0%

-46.4%

24.6%

7.4%

30.8x

7.0x

20

Flour Mills of Nigeria PLC

20.20

-3.8%

0.5%

-30.3%

-30.3%

7.6%

2.3%

6.9x

0.6x

4.9%

14.4%

E/' Z/ E Z t Z/ ^ – ǁŚŝĐŚ ĚƌĂŐŐĞĚ ƚŚĞ ^/ Ϭ͘Ϯй ůŽǁĞƌ͘

21

Transnational Corp of Nigeria

1.14

-0.9%

0.5%

-21.9%

-23.0%

13.6%

3.0%

5.4x

0.7x

1.8%

18.4%

,ŽǁĞǀĞƌ͕ ŽŶ dƵĞƐĚĂLJ ĂŶĚ tĞĚŶĞƐĚĂLJ͕ ƉƌŝĐĞ ĂƉƉƌĞĐŝĂƟŽŶ ŝŶ

22

UAC of Nigeria PLC

10.00

0.0%

0.4%

-40.8%

-40.8%

0.4%

0.2%

78.7x

0.4x

6.5%

23

Diamond Bank PLC

1.02

9.7%

0.4%

-32.0%

-35.0%

-5.8%

-0.7%

24

Total Nigeria PLC

198.00

0.0%

0.5%

-13.9%

-13.9%

34.6%

7.5%

6.9x

2.2x

8.6%

25

FCMB Group Plc

1.51

0.0%

0.6%

-4.4%

8.4%

1.2%

2.0x

0.2x

6.6%

50.6%

26

11 PLC

174.80

0.0%

0.5%

-10.2%

-10.2%

38.0%

16.8%

5.8x

1.9x

4.6%

17.1%

84.6%

8.3%

7.4x

1.4x

;ϭϬϰ͘Ϭŵ ƵŶŝƚƐͿ ǁŚŝůĞ & E, ;EϮ͘ϬďŶͿ͕ 'h Z Edz ;Eϭ͘ϴďŶͿ ĂŶĚ E' D ;Eϭ͘ϮďŶͿ ƚŽƉƉĞĚ ƚƌĂĚĞƐ ďLJ ǀĂůƵĞ͘

dŚĞ ůŽĐĂů ďŽƵƌƐĞ ƐƚĂƌƚĞĚ ƚŚĞ ǁĞĞŬ ŽŶ Ă ďĞĂƌŝƐŚ ŶŽƚĞ ĂƐ ŝŶǀĞƐƚŽƌƐ ƚŽŽŬ ƉƌŽĮƚ ŝŶ ůĂƌŐĞ ĐĂƉ ƐƚŽĐŬƐ – ^d E / , E' D ĂŶĚ

ƉƌĞǀŝŽƵƐ ĚĞĐůŝŶĞƌƐ – ^d E / , E' D ĂŶĚ 'h Z Edz –

ůŝŌĞĚ ƚŚĞ ďĞŶĐŚŵĂƌŬ ŝŶĚĞdž ďLJ Ϭ͘ϳй ĂŶĚ Ϭ͘ϱй ƌĞƐƉĞĐƟǀĞůLJ͘ KŶ dŚƵƌƐĚĂLJ͕ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ŶĞŐĂƟǀĞ ĂƐ ƚŚĞ ^/ ƐŚĞĚ ϭ͘ϭй ĚƵĞ

20.6%

23.3%

3.2%

0.1x

1.3% -68.8% 14.5%

27

Forte Oil PLC

18.00

0.0%

0.2%

-58.6%

-57.1%

ƚŽ ƉƌŽĮƚ ƚĂŬŝŶŐ ŝŶ ŵĂƌŬĞƚ ďĞůůǁĞƚŚĞƌƐ͘ dŽ ĐůŽƐĞ ƚŚĞ ǁĞĞŬ͕ ƚŚĞ

28

PZ Cussons Nigeria PLC

10.90

0.0%

0.2%

-47.1%

-48.5%

ŵĂƌŬĞƚ ƌĞďŽƵŶĚĞĚ ;нϬ͘ϮйͿ ĨŽůůŽǁŝŶŐ ŐĂŝŶƐ ŝŶ E' D,

29

Cadbury Nigeria PLC

9.45

0.0%

0.3%

-39.7%

-39.4%

4.7%

1.9%

33.0x

1.5x

1.7%

3.0%

0.0%

0.4%

-9.3%

-9.3%

37.0%

24.8%

2.5x

0.8x

3.2%

40.7%

47.0%

17.5%

9.4x

4.2x

8.3%

10.7%

0.7x

6.8%

E/' Z/ E Z t Z/ ^ ĂŶĚ E/d,͘

30

Presco PLC

62.15

31

NASCON Allied Industries PLC

18.00

0.0%

0.4%

-2.7%

-6.3%

UPDC Real Estate Investment Tr

8.10

0.0%

0.3%

-19.0%

-19.0%

32

13.6%

1.0x

1.4%

33

Union Bank of Nigeria PLC

5.35

0.9%

WĞƌĨŽƌŵĂŶĐĞ ĂĐƌŽƐƐ ƐĞĐƚŽƌƐ ǁĂƐ ůĂƌŐĞůLJ ďƵůůŝƐŚ ĂƐ ϯ ŽĨ ƚŚĞ ϱ

0.3%

-31.4%

-28.8%

5.3%

1.0%

9.7x

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

4.8%

17.2%

ŝŶĚŝĐĞƐ ƵŶĚĞƌ ŽƵƌ ĐŽǀĞƌĂŐĞ ĂƉƉƌĞĐŝĂƚĞĚ t-o-t͘ dŚĞ Kŝů Θ 'ĂƐ

35

Sterling Bank PLC

1.68

-1.2%

0.5%

55.6%

48.7%

10.6%

1.1%

4.4x

0.5x

1.2%

22.6%

36

Dangote Flour Mills Plc

6.30

-0.8%

0.2%

-48.1%

-48.1%

0.0%

0.0%

0.8x

3.2%

ŝŶĚĞdž ŐĂŝŶĞĚ ƚŚĞ ŵŽƐƚ͕ ƵƉ Ϯ͘Ϭй t-o-t ĚƵĞ ƚŽ ďƵLJ ŝŶƚĞƌĞƐƚ ŝŶ

10.3%

37

GlaxoSmithKline Consumer Niger

14.50

0.0%

0.2%

-32.9%

-32.9%

12.1%

7.2%

11.6x

2.0x

54.0%

market bellwethers K E K ;нϵ͘ϲйͿ ĂŶĚ ^ W> d ;нϭ͘ϲйͿ͘

38

Chemical and Allied Products P

31.50

0.0%

0.2%

-7.4%

-11.8%

66.2%

30.2%

14.7x

9.8x

6.5%

6.8%

^ŝŵŝůĂƌůLJ͕ ƚŚĞ ĂŶŬŝŶŐ ĂŶĚ ŽŶƐƵŵĞƌ 'ŽŽĚƐ ŝŶĚŝĐĞƐ ĂůƐŽ ŐĂŝŶĞĚ

39

Beta Glass PLC

68.30

0.0%

0.2%

33.1%

33.1%

17.7%

11.5%

8.3x

1.4x

1.7%

12.0%

40

Transcorp Hotels Plc

6.10

0.0%

0.1%

-15.4%

-15.4%

6.9%

3.8%

11.9x

0.8x

2.0%

8.4%

Ϭ͘ϵй ĂŶĚ Ϭ͘ϲй t-o-t ƌĞƐƉĞĐƟǀĞůLJ ĚƵĞ ƚŽ ďĂƌŐĂŝŶ ŚƵŶƟŶŐ ŝŶ & E, ;нϳ͘ϬйͿ͕ ' hZ Edz ;нϭ͘ϲйͿ ĂŶĚ E ^d> ;нϰ͘ϯйͿ ͘ KŶ ƚŚĞ

T o p 10 G a i n e r s

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

ŇŝƉ ƐŝĚĞ͕ ƚŚĞ /ŶƐƵƌĂŶĐĞ ĂŶĚ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ŝŶĚŝĐĞƐ ƐŚĞĚ ϯ͘ϭй

T ic k er

P ric e

P ric e C hg %

ĂŶĚ Ϯ͘ϭй t-o-t ƌĞƐƉĞĐƟǀĞůLJ ĚƵĞ ƚŽ ƐĞůů ƉƌĞƐƐƵƌĞ ŝŶ D E^ Z

IKEJ A H OT EL

1.87

10.0%

D IA M ON D B N K

1.02

9.7%

LA SA C O

0.29

7.4%

;-ϭ͘ϭйͿ KEd/E^hZ ;-ϭϮ͘ϱйͿ ĂŶĚ E' D ;-ϭ͘ϲйͿ͘

R EGA LIN S

/ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ ƐƚƌĞŶŐƚŚĞŶĞĚ ƚŚŝƐ ǁĞĞŬ͕ ĂƐ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ ;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ ŝŶĐƌĞĂƐĞĚ ƚŽ Ϭ͘ϴdž ĨƌŽŵ Ϭ͘ϲdž ŝŶ ƚŚĞ ƉƌĞǀŝŽƵƐ ǁĞĞŬ͕ ĨŽůůŽǁŝŶŐ Ϯϵ ƐƚŽĐŬƐ ƚŚĂƚ ĂĚǀĂŶĐĞĚ ĂŐĂŝŶƐƚ ϯϲ ƚŚĂƚ ĚĞĐůŝŶĞĚ͘ dŚĞ ďĞƐƚ ƉĞƌĨŽƌŵŝŶŐ ƐƚŽĐŬƐ ĨŽƌ ƚŚĞ ǁĞĞŬ ǁĞƌĞ

/Z^ Zs/ ;-ϭϬ͘ϬйͿ ůĞĚ ƚŚĞ ůŽƐĞƌƐ͛ ůŝƐƚ͘ &ŽůůŽǁŝŶŐ ƚŚƌĞĞ ĚĂLJƐ ŽĨ ĂƉƉƌĞĐŝĂƟŽŶ ƚŚŝƐ ǁĞĞŬ͕ ǁĞ ĂŶƟĐŝƉĂƚĞ ƚŚĂƚ ŝŶǀĞƐƚŽƌƐ ǁŝůů ƚĂŬĞ ƉƌŽĮƚ ŝŶ ĞĂƌůLJ ƚƌĂĚĞƐ ŶĞdžƚ ǁĞĞŬ ĂůƚŚŽƵŐŚ ǁĞ ĞdžƉĞĐƚ ĂŶ ƵƉƚƵƌŶ ďLJ ƚŚĞ ŵŝĚĚůĞ ŽĨ ƚŚĞ ǁĞĞŬ͘ EĞǀĞƌƚŚĞůĞƐƐ͕ ǁĞ ŵĂŝŶƚĂŝŶ Ă ĐĂƵƟŽƵƐ

ŽƵƚůŽŽŬ ŝŶ ƚŚĞ ŶĞĂƌ ƚĞƌŵ ĂƐ ŽǀĞƌĂůů ŝŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ ƌĞŵĂŝŶƐ

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

P ric e C hg %

60.4

0.0%

FCM B

22.4

0.0%

D IA M ON D B N K

14.3

9.7% -1.2%

5.0%

ST ER LN B A N K

11.9

4.7%

Z EN IT H B A N K

11.1

0.2%

WEM A B A N K

0.55

3.8%

GUA R A N T Y

7.7

-0.3%

D A N GSUGA R

13.50

3.1%

F ID ELIT YB K

6.7

-1.0%

A C C ESS

7.45

2.1%

UB A

6.0

-3.8%

5.35

0.9%

D A N GF LOUR

5.0

-0.8%

23.55

0.2%

FB NH

3.8

-0.7%

UB N Z EN IT H B A N K

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 IR SER VIC E

6.30

-10.0%

SC OA

2.93

-9.8%

NNFM

4.80

-9.4%

CHA M S

0.22

-8.3%

NA HCO

3.41

-5.3%

UB A

7.50

-3.8%

20.20

-3.8%

1.45

-3.3%

ET I

15.50

-3.1%

FCM B

33.7

0.0%

WA P IC

0.40

-2.4%

D A N GF LOUR

31.9

-0.8%

F LOUR M ILL NP FM CRFB K

ǁĞĂŬ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ƉŽůŝƟĐĂů ƵŶĐĞƌƚĂŝŶƚLJ͘

Vo lum e

OA N D O

0.21

/ DKE E< ;нϱϲ͘ϵйͿ͕ /< : ,Kd ;нϭϭ͘ϯйͿ ĂŶĚ // K ;нϭϭ͘ϭйͿ ǁŚŝůĞ KEd/E^hZ ;-ϭϮ͘ϱйͿ͕ WZ ^d/' ;-ϭϬ͘ϵйͿ ĂŶĚ

T ic k er

1549.00

N EST LE

8.6%

T ic k er

Value

P ric e C hg %

OA N D O

310.8

0.0%

GUA R A N T Y

270.0

-0.3%

Z EN IT H B A N K

259.5

0.2%

NB

182.6

0.0%

ST A N B IC

101.9

-1.1%

D A N GC EM

59.0

-0.5%

UB A

45.5

-3.8%

N EST LE

41.3

4.7%

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 Ë&#x153; ͚͸Ë&#x153; ͺ͸͚͜

41

MARKET NEWS

Flour Mills Lists N20.110bn Bonds on NSE, FMDQ OTC Securities Exchange Goddy Egene Flour Mills of Nigeria Plc last Friday listed its Series 1 and 2 N20.110 billion bonds under its N70 billion bond issuance programme on the FMDQ OTC Securities Exchange and Nigerian Stock Exchange (NSE). The flour milling, food and agro-allied products firm issued N10.110 billion Series 1 and N10 billion Series 2 senior unsecured fixed rate bonds in a transaction that was strongly supported by the institutional investor

community and oversubscribed by 190 per cent within the price guidance. The Series 1 bonds was priced at 15.50 per cent for a tenor of three years with bullet repayment at maturity, whilst the Series 2 bonds priced at 16.00 per cent for a tenor of five years with a one-year moratorium on principal payment and an amortising profile. The proceeds of both issuances, amounting to N20.110 billion, were used entirely to refinance existing debt

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

obligations of the company and streamline its maturity profile. The company explained in a statement that notwithstanding declining market conditions with five-year benchmark yields rising from record lows of 10.45 per cent at the start of the year to 15.45 per cent highs in September, the success of the transaction was largely due to the momentum created during very well attended investor roadshow meetings in Lagos and Abuja. Commenting on the listing, the Chairman of the board

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 0612-2018, unless otherwise stated.

of directors of FMN Plc said: â&#x20AC;&#x153;FMN is delighted to return to the capital markets with such a successful outing especially with the level of interest shown by investors. The response from the market vindicates the Companyâ&#x20AC;&#x2122;s decision to have taken this additional step in diversifying our financing options. We are very pleased to have worked with our advisors, Stanbic IBTC Capital Limited as lead issuing house, along with ARM Securities Limited, FBNQuest Merchant Bank Limited, FCMB Capital

Markets Limited, United Capital Plc and Zenith Capital Limited as joint-issuing houses, on a highly successful transaction.â&#x20AC;? Also speaking, the Group Managing Director, FMN Plc, Mr. Paul M. Gbededo, said: â&#x20AC;&#x153;The transaction will help the company achieve its strategic objective of sustaining its market leadership position with our foods and agro-allied businesses, whilst fostering our vision of Feeding the Nation, Everyday.â&#x20AC;? According to him, in 2012, the company commenced

implementing backward integration programmes through its agro-allied business initiatives, primarily to support its core food business and have continued to pursue strategic business opportunities such as capacity expansion and realignment of its core food business. â&#x20AC;&#x153;More recently, our focus is on volume growth, market share and diversification of existing product lines whilst improving efficiencies in supply chain and manufacturing sites,â&#x20AC;? he said.

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 158.80 160.16 -10.44% Afrinvest Plutus Fund 100.00 100.00 11.00% Nigeria International Debt Fund 274.46 276.07 18.75% 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 1.31% ACAP Income Funds 0.63 0.63 6.92% 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 12.70% AIICO Balanced Fund 2.21 2.23 -3.76% 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 16.49 16.98 -9.78% ARM Discovery Fund 355.25 365.96 -8.69% ARM Ethical Fund 28.22 29.07 3.29% ARM Money Market Fund 1.00 1.00 12.66% 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 130.47 131.38 -13.99% AXA Mansard Money Market Fund 1.00 1.00 12.29% 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 13.17% Paramount Equity Fund 11.46 11.76 3.38% Women's Investment Fund 100.93 103.52 0.30% 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 N/A N/A N/A Cordros Milestone Fund 2023 N/A N/A Cordros Milestone Fund 2028 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 12.32% Coronation Balanced Fund 0.84 0.85 Coronation Fixed Income Fund 1.16 1.16 10.38% 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 N/A N/A N/A EDC Nigeria Money Market Fund Class B N/A N/A N/A 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 1,170.18 1,170.93 11.53% FBN Heritage Fund 140.52 141.70 0.74% FBN Money Market Fund 100.00 100.00 12.73% FBN Nigeria Eurobond (USD) Fund - Institutional $112.12 $112.68 3.00% FBN Nigeria Eurobond (USD) Fund - Retail $111.84 $112.40 2.86% FBN Nigeria Smart Beta Equity Fund 145.71 147.76 -8.24% 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 1.20 1.22 -6.99% Legacy Debt Fund 3.22 3.22 11.40% Legacy USD Bond Fund 1.02 1.02 2.43% 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 12.26% Nigeria Entertainment Fund 106.19 106.55 5.86% 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 12.16%

Vantage Balanced Fund 2.15 2.16 1.63% Vantage Guaranteed Income Fund 1.00 1.00 15.44% Kedari Investment Fund (KIF) 123.73 123.91 7.49% LOTUS CAPITAL LTD ďŹ ncon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.19 1.21 4.14% Lotus Halal Fixed Income Fund 1,090.43 1,090.43 12.89% 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 11.09 11.19 -14.26% Meristem Money Market Fund 10.00 10.00 11.79% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.33 1.35 11.66% PACAM Fixed Income Fund 12.12 12.18 9.81% PACAM Money Market Fund 10.00 10.00 11.53% 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 127.32 127.74 -1.84% 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 13.82% 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 2,297.56 2,312.32 4.55% Stanbic IBTC Bond Fund 188.28 188.28 8.12% Stanbic IBTC Ethical Fund 0.94 0.95 -6.44% Stanbic IBTC Guaranteed Investment Fund 245.49 245.53 13.74% Stanbic IBTC Iman Fund 158.77 160.59 -11.34% Stanbic IBTC Money Market Fund 100.00 100.00 11.94% Stanbic IBTC Nigerian Equity Fund 8,392.84 8,494.78 -11.73% Stanbic IBTC Dollar Fund (USD) 1.10 1.10 6.87% 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 N/A N/A N/A United Capital Bond Fund N/A N/A N/A United Capital Equity Fund N/A N/A N/A United Capital Money Market Fund N/A N/A N/A United Capital Eurobond Fund N/A N/A N/A United Capital Wealth for Women Fund N/A N/A N/A 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 11.12 11.28 -7.67% Zenith Ethical Fund 12.19 12.30 -5.62% Zenith Income Fund 20.62 20.62 11.73% Zenith Money Market Fund 1.00 1.00 11.85%

REITS NAV Per Share

Yield / T-Rtn

9.00 139.49 51.55

-20.11% 5.31% 1.42%

Bid Price

Offer Price

Yield / T-Rtn

10.21 115.39 87.80

10.31 117.83 89.45

-13.73% -19.22% -19.63%

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

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

4.02 7.22 14.48 12.13 141.04

4.06 7.30 14.58 12.33 143.04

-15.14% -24.50% -17.03% -38.14% 4.99%

NAV Per Share

Yield / T-Rtn

107.13

17.03%

SPECIALIST FUNDS Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

The value of investments and the income from them may fall as well as rise. Past performance is a guide and not an indication of future returns. Fund prices published in this edition are also available on each fund managerâ&#x20AC;&#x2122;s website and FMANâ&#x20AC;&#x2122;s website at www.fman.com.ng. Fund prices are supplied by the operator of the relevant fund and are published for information purposes only.

40

T H I S D AY Ëž ÍŻÍŽË&#x153; Í°ÍŽÍŻÍś

CITYSTRINGS

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

Mourning in LaďŹ agi over Boat Mishap Hammed Shittu, who recently visited the ancient town of Lafiagi in Edu Local Government Council, writes that the drowning of 19 persons, aged between 12 and 19, has uncovered the underbelly of the abandoned 46km road project that should ordinarily link Kwara and Niger States, thus limiting the incessant occurrence of boat mishaps in the riverine community

T

he ancient town of Lafiagi in Edu Local Government Council of Kwara State was recently thrown into mourning following the death of 19 children, who drowned after the passenger boat they boarded capsized midway. The boat was said to have been conveying about 22 persons across River Niger when it capsized.

Abandoned Road Since water transportation is the only means of transportation for the Edu riverine community, the incident was certainly not the first of its kind, as reported cases of boat mishaps characterise their daily living. This is because the only road that links Lafiagi to Niger State, which is 46km, had been abandoned by the successive governments of Kwara and Niger States for years. The development has continued to make it impossible for the residents of the two states to enjoy the road transportation system to either move about their respective businesses or socialise among themselves. It is on this premise that the people of the two neighbouring towns have resorted to water transportation as the only way to move across the border towns of the two states.

A typical situation of passengers crossing from Chewuru jetty on passenger boats without safety jackets

Tragedy However, on December 1, 2018, the absence of a connecting road between the two states was again brought to the fore. On a day they should be celebrating the beginning of another month and the last month of the year, the town was thrown into mourning following the news that the boat that was conveying some families to one of the towns in Niger State for Wolimat Quran programme capsized in the river. As soon as information of the tragedy filtered into the village, residents trooped to the river bank, where the flying boat always takes off, to confirm what happened. On ascertaining the veracity of the news, it was tears galore, Apart from the loss of lives, goods like rice, clothes and other household materials

Since water transportation is the only means of transportation for the Edu riverine community, the incident was certainly not the ďŹ rst of its kind, as reported cases of boat mishaps characterise their daily living. This is because the only road that links LaďŹ agi to Niger State, which is 46km, had been abandoned by the successive governments of Kwara and Niger States for years

One of the survivors of the boat mishap, Hajia Aisetu Yusuf

prepared for the programme also sunk in the river.

Cause Upon inquiries, THISDAY gathered that the flying boat was not supposed to carry the passengers as the only ferry boat being used for transportation has been down for almost six months without being attended to by the management of the ferry. The development according to THISDAY checks however prompted the use of flying boats, which ordinarily should carry only eight passengers but instead carried about 22 people of that fateful day of the incident.

Rescue Efforts Following the incident, men of the Nigeria Police Force and Kwara State Fire Service were said to have moved to the scene on a rescue mission. The rescue team, however was able to rescue only two on the day of the incident. However, the Secretary of the Lafiagi Traditional Council, Alhaji Sulyman Aliyu, who confirmed the ugly development said the victims were aged between 12 and 19. The secretary also confirmed that four corpses were recovered on

One of the bereaved husband, Alhaji Idris Salihu with the children of deceased, Hajia Salihu at LaďŹ agi

the day of the incident. Also, the Public Relations Officer of the state police command, DSP Ajayi Okasanmi, who also confirmed the incident said the officers of the force and other security agencies had joined the local government council to recover the corpses. As at then, however said that the number of the passengers and the victims could not yet be ascertained as the recovery exercise was still ongoing. Also reacting, the Director of Personnel Management of Edu Local Government Council Area, Mr. Toso Balogun said about 20 people boarded the flying boat to the Niger State to attend the Wolimat Quran ceremony. He said the rescue team deployed to the Chewuru boat depot first rescued 10 people, while searching for corpses on the river Niger continued until the rest were found. Balogun however called on the government to construct a bridge over the river that would link to Niger State. He also called on the government to construct the 46km road, so as to put an end to the ugly situation in the town.

Pensive Mood Meanwhile, a visit by our cor-

respondent to the ancient town of Lafiagi recently showed the pensive and mourning mood that had continued to trail the tragedy. The community have continued to throng into the family houses of those that lost their loved ones during the flying boat mishap that happened in the town. Business activities that once characterised the social life of the people of the ancient town have become dull, as skeletal business were going on during our correspondent's visit to the town.

Survivors One of the survivors of the tragedy, Hajia Aisetu Yusuf told our correspondent in Lafiagi that it was the grace of God that helped her to survive the tragedy. She said the incident happened 8.30 pm on Saturday, December 1, 2019 on their way to Niger State to attend a Wolimat Quran programme of one family's daughter. She said: "As we are going, I saw water coming into the boat at the back and I alerted the driver of the boat because the boat was carrying more than the normal passengers. "Apart from the passengers that include nursing mothers and their

41

T H I S D AY ╦╛ ═п═о╦Ь ═░═о═п═╢

CRIME&SECURITY CRIME SITUATION REPORTS

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EMERGENCY NUMBERS FOR IMO STATE POLICE COMMAND B 1PMJDF $POUSPM 3PPN /PT PS C $PNNJTTJPOFS PG 1PMJDF D %FQVUZ $PNNJTTJPOFS PG 1PMJDF "ENJO E %FQVUZ $PNNJTTJPOFS PG 1PMJDF 4$**% F %FQVUZ $PNNJTTJPOFS PG 1PMJDF 0QT G "SFB $PNNBOEFS 0XFSSJ H "SFB $PNNBOEFS 0SMV I "SFB $PNNBOEFS 0LJHXF J 1PMJDF 1VCMJD 3FMBUJPOT 0G├аDFS *NP 4UBUF SOURCE: Imo State Police Command

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├аDFS 1130 Source: The Lagos State Police Command

KNOW YOUR POLICE OFFICERS (4) - The Deputy Inspector General of Police, Force Criminal Investigation and Intelligence Department (FCIID): DIG HYACINTH DAGALA MEDGU 5IF /JHFSJB 1PMJDF '$**% JT UIF IJHIFTU JOWFTUJHBUJOH BSN PG UIF /JHFSJB 1PMJDF *UT GVODUJPOT JODMVEF JOWFTUJHBUJPO BOE QSPTFDVUJPO PG TFSJPVT BOE DPNQMFY DSJNJOBM DBTFT XJUIJO BOE PVUTJEF UIF DPVOUSZ 5IF EFQBSUNFOU BMTP DPPSEJOBUFT DSJNF JOWFTUJHBUJPOT QSPTFDVUJPO UISPVHIPVU UIF GPSDF 'PS FGGFDUJWF BOE FG├аDJFOU BENJOJTUSBUJPO UIF /1' $*% JT EJWJEFE JOUP TFDUJPOT XJUI NPTU PG UIFN IFBEFE CZ B DPNNJTTJPOFS PG QPMJDF 5IF TFDUJPOT BSF "ENJOJTUSBUJPO "OU 'SBVE 4FDUJPO 5IF $FOUSBM $SJNJOBM 3FHJTUSZ $$3 4QFDJBM "OUJ 3PCCFSZ 4RVBE 4"34 4QFDJBM &ORVJSZ #VSFBV 9 4RVBE (FOFSBM *OWFTUJHBUJPO 4QFDJBM 'SBVE 6OJU 4'6

-FHBM 4FDUJPO 'PSFOTJD 4DJFODF *OUFSQPM )PNJDJEF "OUJ )VNBO 5SBG├аDLJOH 6OJU $*# 4*# 'PSDF $*% "OOFY ,BEVOB SOURCE: Police Force Headquarters, ABUJA.

The scene of the boat capsize

Dagala Medgu

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INTERNATIONAL

Brexit Deal Defeat Could Topple UK Government, Says May Prime Minister Theresa May warned on Sunday that parliament’s rejection of her Brexit deal could leave Britain in the European Union and bring the opposition Labour Party to power. The embattled leader’s message came with her government fearing a heavy

defeat on Tuesday of the draft withdrawal agreement she signed with Brussels last month. Media reports said May is under pressure from her cabinet to delay the vote and fly to Brussels to secure more concessions ahead of a planned summit with 27 fellow

EU leaders on Thursday and Friday. But Brexit Secretary Stephen Barclay told the BBC: “The vote is going ahead.” May said Britain “would truly be in uncharted waters” if the draft struck after nearly two years of tough talks is voted down less than four

Five Officials Die in Helicopter Crash A helicopter crashed Sunday in eastern Sudan, killing at least five local officials who were on board, state media reported. Witnesses said the helicopter caught fire after hitting a communications tower as it tried to land in a field in the state of Al-Qadarif. “Flames and thick dark smoke rose from the aircraft,” one of the witnesses, Adam Hassan, said. Al-Qadarif governor Mirghani Saleh, his cabinet chief, the local minister of agriculture as well as the local police chief and head of border guards were killed,

state television said. It did not give details about the circumstances of the crash near the border with Ethiopia, or say if there were any survivors. Sudan’s state news agency SUNA gave a slightly higher toll of six government officials killed. It said an unspecified number of other people were taken to hospital for treatment, without providing further details. Most of Sudan’s military and civilian fleet consists of old Soviet-made aircraft, and the country has suffered a series of crashes in recent

years, with the military frequently blaming technical problems and bad weather. In October eight people were injured in a collision between two Sudanese army planes on the runway at Khartoum airport. Weeks earlier in September, two pilots were killed when their military jet crashed near Omdurman, Khartoum’s twin city on the west bank of the Nile. That accident came days after a military helicopter crashed and caught fire on landing in Darfur, though all passengers were rescued.

months before the March 29 Brexit date. “It would mean grave uncertainty for the nation with a very real risk of no Brexit,” she told the Mail on Sunday. “We have a leader of the opposition who thinks of nothing but attempting to bring about a general election, no matter what the cost to the country… I believe Jeremy Corbyn getting his hands on power is a risk we cannot afford to take.” – ‘Out of control’ – May is facing her biggest crisis since coming to power a month after the nation voted by a 52-48 margin in June 2016 to leave the world’s largest single market after 46 years. She is under attack from more strident Brexit backers in her own party as well as europhiles who want either a second referendum or a pact that maintains stronger EU-UK ties than the one offered by May. Her comments on Sunday are aimed at tamping down the hardline Conservative Party revolt led by the likes of her former foreign minister Boris Johnson.

May’s team has been arguing for a number of days that her vision offers the cleanest break between the UK and EU that Brexit supporters can hope for at this late stage. But Johnson used a column in the Sun on Sunday to argue that “the best way to get a great deal is to prepare for no deal” by rejecting May’s draft. Corbyn’s party is hoping that failure in parliament on Tuesday will trigger a broader revolt that leads to early elections and returns Labour to power for the first time since 2010. “I think time is really running out for her and if you can tell me if she will still be prime minister on Tuesday evening then perhaps I can tell you what we do next,” Labour shadow minister John Trickett told Sky News. “Maybe she doesn’t quite know either, by the way. I think things have run out of control.” European officials said they might be able to find a way to offer a token concession in Brussels that May could take

back to London and show rebellious MPs. But they added that such tinkering cannot alter the basis of the withdrawal agreement itself. “Theresa May will come to the European summit on December 13 and 14 to ask for a renegotiation and the 27 will tell her no, the texts have been agreed,” an informed European source told AFP on condition on anonymity. “They will then retreat and work on the (accompanying) protocol or clarify a point that is deemed important so that she can take it back to parliament.” May would then be expected to submit the touched-up version for a second vote at an unspecified date. The European Court of Justice could inject still more drama into the Brexit endgame when it rules on Monday whether Britain can unilaterally halt its split from the bloc. The ECJ could also decide Brexit can only be postponed or suspended by unanimous agreement of the other 27 nations. May has rejected the idea of putting the brakes on Brexit.

Saudi Foreign Minister Rules out Extraditing Suspects in Khashoggi’s Case Saudi Arabia’s foreign minister on Sunday ruled out the extradition of suspects in the murder of journalist Jamal Khashoggi, after Istanbul’s chief prosecutor filed warrants for the arrest of two former senior Saudi officials. Turkish officials said last week that the prosecutor’s office had concluded there was “strong suspicion” that Saud al-Qahtani, a top aide to Crown Prince Mohammed bin Salman, and General

Ahmed al-Asiri, who served as deputy head of foreign intelligence, were among the planners of Khashoggi’s October 2 killing at the Saudi consulate in Istanbul. “We don’t extradite our citizens,” Saudi Foreign Minister Adel al-Jubeir said when asked about the arrest warrants at a news conference at a Gulf Arab summit in Riyadh. Last month, the U.S. Treasury sanctioned 17 Saudis, including Qahtani

but not Asiri, for their role in Khashoggi’s murder. The Saudi public prosecutor has said the order to repatriate Khashoggi came from Asiri and that a travel ban has been imposed on Qahtani. Jubeir declined to confirm or deny whether the men were currently detained, referring the question to the Saudi public prosecutor.

466bn Migrants’ Remittances Triple Global Development Aid in 2017, Says UN Statistics released by the UN yesterday indicated that migrants from developing countries sent home 466 billion dollars in 2017, tripling the amount sent globally for development aid. The world body released the figure on the eve of the two-day Intergovernmental Conference to Adopt the Global Compact for Safe,

Orderly and Regular Migration, which opens in Marrakech, Morocco, today. According to the UN, 3.4 per cent of the world’s population today, representing 258 million, are international migrants of which 50 million are children. It noted the number of men and women were

almost at par, adding that the migrants spent 85 per cent of their earnings in their host countries. The world body stated that most of the migrants moved through safe and legal means, while more than 60,000 migrants died since 2000 while undertaking dangerous journeys in search of greener pastures. The UN General Assembly decided to launch a process of intergovernmental negotiations, leading to the adoption of the Global Compact for Migration. The modalities for the conference were further elaborated in resolutions 71/280 of April 6, 2017, 72/244 of December 24, 2017 and 72/L.67 of July 31, 2018. It is the first-ever agreement on a common approach to international migration in all its dimensions.

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WRI: Over 10,000 Female Children Abused Daily in Nigeria Segun James While over 603 million females are living in environment where domestic violence is not yet a crime in world, more than 10,000 female children abused every day in Nigeria alone. The founder of the We Rise Initiative (WRI), a nongovernmental organisation empowering women and girls to rise above systemic oppression and the stigmatisation of feminism, Ms. Laila Johnson-Salami,

disclosed this in Lagos yesterday. Johnson-Salami said studies have shown that almost one in every three women or girls has been abused one way or the other, mostly by people close to them. Also, one in every eight boys is also victim of such abuses. She lamented that most of these abuses come in form of rape from which the victims were forced not to disclose it because it is seen as a taboo. According to her, the

situation is even made worse by the fact that laws in the country also discriminate against the victims. Johnson-Salami said: “The biggest problem is that even when the abuses are reported, the police who are to take action on the issues

do not know what to do.” She disclosed that surprisingly, most of the traffickers of abused victims are women themselves, stressing that it was for this reason that many of the abusers get way with their crimes.

Johnson-Salami said in the 21st century Nigeria, the law against rape does not even apply to male victims as it is assumed that you cannot rape a boy. “That is why we must speak up. This cannot be allowed to continue.

“Every year, the United Nations holds a 16 day campaign against genderbased violence, encouraging people to take a stand against gender-based abuse and (WRI) has contributed to this with a viral campaign,” she added.

Ambode Decries Killing of 18 LASTMA Officers on Duty Gboyega Akinsanmi Lagos State Governor, Mr. Akinwunmi Ambode, yesterday disclosed that 18 officers of the State Traffic Management Authority (LASTMA) have been killed in 2018 alone while discharging their lawful responsibilities in different parts of the state. Apart from the LASTMA officers that were killed on duty, Ambode also disclosed that 24 others were permanently incapacitated in various hospitals due to attacks they suffered while carrying out their lawful duties in the state. He reeled out the figure after a strategic session with LASTMA leadership and heads of other security agencies in the state at LASTMA head office in Oshodi to address the traffic situation and the killing of a LASTMA officer, Mr. Rotimi Adeyemo last week. Among others, the strategic session was attended by the State Commissioner of Police, Mr Imohimi Edgal; CEO of LASTMA, Mr. Chris Olakpe; General Manager of LASTMA, Mr. Olawale Musa; Chairman of Lagos Neighbourhood Safety Corps, Mr. Israel Ajao; Lagos State Sector Commander, Federal Road Safety Corp (FRSC), Mr. Hyginus Omeje; State Commander, Nigeria Security and Civil Defence Corp, Mr. Tajudeen Balogun. Speaking at the session, Ambode ordered LASTMA and all the relevant security agencies to henceforth strictly enforce the provisions of the Lagos State Road Traffic Law, 2012 to bring about public order and safety on the roads across the state. The governor, also, ordered the State Attorney General and Commissioner for Justice, Mr. Adeniji Kazeem “to immediately increase the number of Mobile Court in the state to 20 to prosecute traffic offenders to serve as deterrent to others who might want to indulge in the violation of traffic laws.” With the killing of the LASTMA officers last week, Ambode disclosed

that at least 18 LASTMA officers had been killed while discharging lawful duties while 24 others were permanently incapacitated in various hospitals in the last one year. “We have not been churning out this data just because we believe Lagos residents will understand that these men and women that we put on the line of duty are harmless. They do not have anything to protect them than just traffic laws, which they are enforcing. “This is a sober moment for us. I need to appeal to all our law enforcement officers, most especially LASTMA officers. This government is with them. We will do everything to protect their lives and create an atmosphere to allow them to do their work properly.” Although he approved N10million compensation to the family of the deceased officer, Ambode warned that the state government would not fold its arms and allow the violation of the laws, hence the decision to order enforcement of the laws with immediate effect. “The state government will go down and deal squarely with any traffic offender from this moment onward. We cannot allow people to continue to commit offence for which we need to discipline for. We do not want people to take advantage of this season and the forthcoming elections to violate laws. “We have majority of our people to protect and we have the majority of our people to also make sure that they use the roads safely. So, we will not allow traffic offenders to go scot-free anymore,” the governor said. Also speaking at the session, Edgal said the synergy between the security agencies and traffic officers would now be intensified to ensure that they are safe and they work longer periods, just as urged Lagosians to continue to be law abiding and promptly report any security breach around them.

ANTI GRAFT WAR CONTINUES...

L-R: Chairman, African Union Advisory Board on Corruption, Mr. Begoto Miarom; Minister of Federal Capital Territory, Alhaji Mohammed Bello; President Muhammadu Buhari and Minister of Foreign Affairs, Mr Geoffrey Onyeama, during the 2018 Africa Youth Congress against Corruption, held at the Presidential Conference Hall, State House Abuja…yesterday

US Envoy: Nigerians Represent Real, Sustainable Wealth of the Nation United States Ambassador to Nigeria, Mr. Stuart Symington, has said Nigerians represent the real and sustainable wealth of their country, noting that true leadership must showcase the people. Symington made the remarks at the African Business Conference Plus 2018 with the theme: ‘Human Capital: The key to Africa’s Transformation’, in Lagos. The conference was organised by the American Business Council (ABC) in partnership with the Lagos Business School

(LBS). Symington, in a statement by the Director-General, American Business Council (ABC), Mrs. Margaret Olele, said citizens are the greatest resources of Nigeria, adding that without them, there would be no leader. “I am here to let you know the greatest resource of this country. As an ambassador, I have seen first-hand the diversity of the country as well as its potential. “The most successful people you will remember think in terms of people. “Their value for people is

what makes them stand out, that is why I strongly believe that the greatest resource for this country is you,” he said. The ambassador said the time was apt to scale up partnerships between U.S companies and credible institutions like LBS in order to improve vocational studies and requisite talents in areas that would enhance Africa’s growth. Similarly, the President, American Business Council, Dr. Lazarus Angbazo, said the US companies operating in Nigeria are keen on training.

He said they spent over N1.6 billion on training and development in 2017 from N340 million they spent in 2016. Angbazo, who is the Chief Executive Officer of General Electric (GE) in Nigeria, said a recent talent survey carried out by the company showed a clear deficit in the area of engineering profession. According to him, the study showed that about 4,600 talents were available in the Nigerian market for profession that needs over 14,000 talents.

Olawepo-Hashim Accuses APC, PDP of Playing Games with Nigeria’s Stability Frontline presidential candidate, Mr. Gbenga Olawepo-Hashim has accused the two dominant parties, the All Progressives Congress (APC) and the Peoples Democratic Party (PDP) of playing politics with Nigeria’s stability through the way and manner they are handling the Electoral Act. The candidate running on the platform of the People’s Trust (PT) and regarded as a third force in the build-up to the February 2019 presidential elections, stressed that rather than presenting themselves as statesmen, the candidates are rather obsessed with immediate partisan gains.

He told journalists at an interactive session in Lagos while reacting to the president’s refusal to give accent to the Electoral Act, which he said was passed by the PDP- controlled National Assembly. Olawepo-Hashim stated: “The president is conducting himself like a typical Nigerian politician of the era of political decline, rather than behaving as a patriot that I have always thought he is. By his actions, he is simply saying let me benefit from the fraudulent process for my 2019 bid. You can push for the new law in 2023 when I will not be contesting.”

The prominent politician, who is believed to be flying the flag of the young and the active, noted that the PDP-led legislature had ample time to correct the perceived lacunas in the Electoral Act, which they had created in the first instance. He continued: “In the task of nation building, political leaders sometimes have to rise above the fray and take decisions in the national interest, even when they do not seem to benefit from it. Some of us did this before. In 2000, when some of our colleagues wanted to change our two- year tenure to four years, I led the opposition to this, even though I would

have been a beneficiary of that exercise as a National Executive Committee (NEC) member” The PT presidential candidate called on the electorate and the entire citizens of Nigeria not to be discouraged from participating in the next polls as a result of the shenanigans of APC and PDP. He regretted that since what he called the “garrison” election in Osun State and the unfortunate decline of assent to the Electoral Act, the APC has been trying to spread fear in the hearts of would-be voters that their votes will not count.

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Kachikwu: Why OPEC Did Not Grant Nigeria Further Exemption in Output Cut Deal Chineme Okafor in Abuja The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has clarified that the Organisation of Petroleum Exporting Countries (OPEC) did not grant Nigeria further exemption in the cartel’s output cut deal because the country did not request for further exemption. Kachikwu told THISDAY on the sidelines of the recent OPEC meeting in Vienna, Austria, that while Nigeria cannot be said to be comfortable with its current oil production levels, it could not ask to be exempted from the cut. “We didn’t ask for exemption;

we wanted to make sure everybody shared in the pain. If some happenstance occur, you are expected to come back to ask for exemption,” said Kachikwu, who noted that the country had been exempted twice in the last deals that were reached. Collectively, OPEC and their non-OPEC allies agreed to cut their outputs by 1.2 million barrels of oil per day (mbd), with OPEC countries accounting for 800,000 barrels a day (bpd) of the cut, while non-OPEC will cut 400,000 bpd. Kachikwu, told THISDAY that Nigeria could contribute up to 40,000 bpd to the 800,000 bpd

OPEC will take out. He said this represented about 2.5 per cent of the 1.7mbpd current production level of Nigeria. Speaking on the output deal negotiations, he said: “We had to navigate that. Nigeria had the unique responsibility of having to navigate the Saudis who we get along very well with, and the Iranians, who we get along very well with, and then try to sort of forge them to decide over and by the time we left yesterday (Thursday), some had agreed on the volume of cuts; some on the concept of cut or whether or not the language will be written into the resolution that will be

Jordan King, Abdullah Condoles Buhari over Killing of Soldiers President mourns Aruwa’s passing Shola Oyeyipo in Abuja President Muhammadu Buhari yesterday received a condolence message and assurance of support in the fight against terrorism from His Majesty King Abdullah II bin Al-Hussein of Jordan, who prayed for peace and unity in Nigeria and African. The Senior Special Assistant to the President on Media and Publicity, Mr. Garba Shehu, said King Abdullah, who is from the Hashemite family of Jordan, spoke with President Buhari in a telephone conversation, and commended the Nigerian Army for their courage and resilience in the face of challenges in fighting terrorism. According to him, “President Buhari thanked King Abdullah for his concern on the recent setbacks that led to the loss of military lives in the North-east region. The president assured him that several measures had been discussed and were being implemented to steer the country from the unfortunate occurrence. “President Buhari told King Abdullah that he would continue to work towards total elimination of terrorism in the Lake Chad basin area. “He commended King Abdullah for his support and steadfastness for the global effort against terrorism, describing the collaboration between Jordan and Nigeria and the rest of Africa, through the platform of Aqaba Counter Terrorism Retreats, as very beneficial,” Garba said. The Aqaba Counter Terrorism Retreats is convened by King Abdullah. In another statement made available by his Special Adviser on Media and Publicity, Mr. Femi Adesina, President Buhari condoled with government and people of Kaduna State over the death of Senator Muktar Ahmed Aruwa, who represented Kaduna Central constituency in 1999 and 2003. The president commiserates with the National Assembly, family, friends and political associates of the deceased, recounting the many contributions of the senator to the growth of democracy in Nigeria, especially during his days at the legislature. President Buhari affirmed that Aruwa lived to serve the country in many facets, including sports,

noting that founding Ranchers Bees Football Team in Kaduna by the late senator provided a

platform for grooming youths for the national team and international clubs.

announced.” According to him: “It was more of the mechanics of how do you present it to the market as opposed to the substance of the resolution itself and that was what we broke yesterday and decided to take a break and come back with cool

heads today.” He stated that though the exemption was available to a specific number of countries, others could still ask for an exemption on special occasions. “If you are a unique country and your unique circumstances

require that you will be given attention in a particular month to be exempted from that cut, you will write to the President of the OPEC Assembly and he will review that and come up with a decision,” Kachikwu explained.

Buhari to Present 2019 Appropriation Bill to N’Assembly This Week Deji Elumoye in Abuja

The 2019 federal budget estimates approved last Friday by the Federal Executive Council, FEC, is to be presented to the National Assembly this week. The Senior Special Assistant to the President on National Assembly Matters (Senate), Senator Ita Enang, who spoke with THISDAY in Abuja yesterday, expressed optimism that the budget estimates will be presented by President Muhammadu Buhari to the joint sitting of the National

Assembly this week. “I am optimistic that the 2019 Appropriation Bill will be before the National Assembly before this week runs out”. According to him, the Executive is in touch with the legislature over the budget presentation by President Buhari “and we have been advised to do a notification letter to this effect.” The letter, he further said, “is what we are trying to firm up and send to the leadership of the National Assembly and this will get to them very shortly”.

Sources told THISDAY that the notification letter may be read on the floor of both the Senate and House of Representatives when they reconvene on Tuesday while the actual presentation of the budget proposal may be on Thursday. The tentative dates, sources however said, are subject to how soon the Assembly leadership gets the president’s notification letter informing of a date for him to present the 2019 Appropriation Bill to the lawmakers.

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Appeal Court Nullifies Conviction of Shell MD, Others Ejiofor Alike The Court of Appeal sitting in Port Harcourt has set aside the order of a High Court of Rivers State, which sentenced the Managing Director of Shell Petroleum Development Company of Nigeria Limited

(SPDC), Osagie Okunbor, and two other senior officers of the company to three months in prison for contempt. The appellate court gave the ruling, following an appeal of the committal order filed by SPDC. The High Court had on

October 9, 2018, ordered Osagie; SPDC Company Secretary, Nike Oyinlola; and the Managing Counsel for Litigation, Sub-Sahara Africa, Keibi Atemie, to be committed to prison for disobeying a 2008 judgment of the High Court to forfeit the land on

which the Bonny Oil Export Terminal is built. But SPDC, in a statement after the committal order, said the company had not disobeyed any court order and had appealed the conviction. “We do not accept that

SPDC has disobeyed any lawful order of court and have accordingly appealed this judgment. SPDC has utmost respect for the courts and the laws of Nigeria,” said the SPDC statement. The Bonny Oil Terminal on Bonny Island in Rivers State

is a critical national asset in which the federal government holds 55 per cent interest. The terminal receives crude oil from international and local oil companies through the Trans Niger Pipeline and the Nembe Creek Trunk Line for export.

Buhari Constitutes Committee on State Legislature, Judiciary Autonomy Shola Oyeyipo in Abuja In compliance with the fourth alteration to the 1999 Constitution, President Muhammadu Buhari has constituted a Presidential Implementation Committee on Autonomy of State Legislature and Judiciary. Presidential spokesman, Mr. Femi Adesina, in a statement issued yesterday stated that the purpose of the committee was to drive the actualisation of the autonomy granted to the legislature and judiciary at the state level. Names of members of the committee are: Nigeria’s Minister for Justice and Attorney-General, Abubakar Malami (SAN) (chairman); Presidential Liaison to the National Assembly, Senator Ita Enang; Chief Judge of Kogi State, Justice Nasiru Ajanah; Chief Judge of Bayelsa State, Justice Kate Abiri; Grand Khadi of the Gombe State Sharia Court of Appeal, Kadi Abdullahi Maikano Usman, and acting President of the FCT Customary Court of Appeal, Justice Abbazih Musa Abubakar Sadeeq. Others are: Chairman, Conference of Speakers of State Legislatures of Nigeria and Speaker of Lagos State House of Assembly, Hon. Mudashiru Obasa, and Speaker of Taraba State House of Assembly, Hon. Abel Peter Riah; Judiciary Staff Union of Nigeria is to be represented by Marwan Mustapha Adamu while Parliamentary Staff Association of Nigeria will be represented by Bala Hadi.

Still on the committee are representatives of Body of Chairmen of Houses of Assembly Service Commissions, Musa Mustapha Agwai; Senate Committee on Judiciary, Human Rights and Legal Matters, Senator David Umaru; House of Representatives Committee on Federal Judiciary, Hon. Aminu Shagari; the Accountant General of the Federation, and the Secretary of the National Judicial Council. Others are: Director-General of the Nigerian Governors Forum or another representative as the forum may wish to nominate; Chairman of the Forum of State Finance Commissioners in Nigeria; President of the Nigerian Bar Association (NBA), Paul Usoro (SAN), and Chike Adibuah, representing Civil Society Organisations. According to Adesina, terms of reference of the committee include “To assess and review the level of compliance by all the 36 states of the federation with Section 121(3) of the 1999 Constitution (as amended); to monitor, ensure and cause the implementation of financial autonomy across the judiciary and legislature of the 36 states; to consult and relate with the appropriate federal and state MDAs; to ensure and where necessary enforce the implementation of constitutional provision; and to come up with appropriate modality or model to be adopted by all the states of the federation for implementation and/or compliance with Section 121(3) of the 1999 Constitution (as amended).”

Jonathan Greets Danjuma at 81, Describes Him as a Courageous Patriot Former President, Dr. Goodluck Jonathan, has felicitated with former Chief of Army Staff (COAS) and ex-Minister of Defence, General Theophilus Danjuma (rtd) on the occasion of his 81st birthday, describing him as a courageous patriot. In a goodwill message which the former president personally signed, Jonathan highlighted Danjuma’s outstanding military career, crusade for equity and generosity as exemplary qualities worthy of emulation. The message, according to a statement issued by Jonathan’s media adviser, Mr. Ikechukwu Eze, also thanked God for bestowing on the former minister the grace of a long life, kind heart and great wisdom. The statement said: “It is my pleasure to warmly congratulate you on your 81st birthday. I join your family, friends and other well-wishers to thank God Almighty for bestowing His exceeding grace on you. It has

pleased the creator to bless you with a momentous career, long life and great wisdom. “You are a great nationalist and a courageous patriot who fought to keep Nigeria together at a time the unity of the country came under threat. As an elder statesman, you have continued to lend your weight to the effort to unite and develop our country while channelling your resources towards improving the cause of the common man. “Your outstanding military career, high sense of duty, successful entrepreneurship, crusade for equity, passion for human dignity and generosity are exemplary traits worthy of emulation. “I wish you a longer life in good health and more productive years as you continue to lend your voice and energy to the effort to build a country of our collective dreams.”

SHOW OF APPRECIATION…

Governor of Osun State, Mr. Gboyega Oyetola (left), making some remarks before the Alaafin of Oyo, Oba Lamidi Adeyemi, during the thank you visit in appreciation of the monarch’s attendance in his recent swearing-in ceremony as Osun State governor, at the Alaafin’s Palace in Oyo…yesterday

EFCC to Prosecute Candidates Before 2019 Elections, Says Magu Shola Oyeyipo in Abuja The chairman, Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, has assured Nigerians that all candidates of political parties seeking election into various offices in 2019 will be charged to court before the next year election. The anti-corruption agency boss, who spoke

with journalists yesterday shortly after an African Union Youth Congress against Corruption with the theme: “Combating Corruption: A Sustainable Path to Africa’s Transformation,” held at the banquet hall of the presidential villa, Abuja also hinted that EFCC is closely monitoring politicians’ spending on their campaigns. According to Magu, “by

the grace of God all those candidates that have cases with us on corruption will be charged to court before the election.” “When asked if he could be mention names of those involved, he said: “I don’t want to personalise it.” On campaign spending, he said the EFCC is monitoring what the candidates are putting into their campaigns.

“It is not only here in this country, we are also partnering other countries to monitor campaign money,” Magu said. When asked to shed more light on the investigation into the allegation of bribery against the Kano State Governor, Abdullahi Ganduje, Magu said: “The case against Ganduje is in court and I would not want to comment on it. As I told you before we are still on it.”

Shekau’s Boko Haram Kills Two Soldiers in Another Borno Attack Two soldiers were killed when suspected Boko Haram fighters loyal to factional leader Abubakar Shekau attacked a military base in Borno State, security sources told AFP yesterday. The twin gun and suicide attacks happened early Saturday evening at Gulumba village, in the Bama district of Borno State. The use of human bombs is a hallmark of the Shekau faction, which is known to operate in the area. Last month, Shekau released

a video claiming attacks against troops in Gulumba. “We lost two soldiers and two more were injured in the attack by the Shekau faction,” said one military source. “The terrorists came in nine gun trucks with a suicide bomber at about 5:50 pm (1650 GMT) and attacked the base.” Asecond source said the suicide bomber tried to infiltrate the base but was “neutralised” by troops. He also said two soldiers were killed and two others were injured. “The terrorists faced stiff

resistance and were forced to withdraw,” he added. Neither source wanted to be identified as they were not authorised to speak to the media. Attacks by fighters loyal to Shekau have reduced considerably in recent months, which sources attribute to the firebrand leader’s ill health. Instead, the IS-backed Boko Haram faction Islamic State West Africa Province (ISWAP) has been blamed or claimed responsibility for a wave of attacks against the military since July.

ISWAP split from Shekau’s faction in mid-2016 in protest at the latter’s indiscriminate targeting of civilians, and pledged to hit only “hard” military or government targets. AFP has reported 22 other attacks on military bases since mid-July, including two last Thursday and Friday in the Rann and Bama areas of Borno. Eight soldiers were killed in an attack on December 1 in the village of Buni Gari, in neighbouring Yobe State.

SEC: Nigeria’s Infrastructure Deficit to Hit $878bn by 2040 The Securities and Exchange Commission (SEC) yesterday said the country’s infrastructure deficit would hit $878 billion by 2040, and therefore called for active utilisation of green bond for infrastructural gap. SEC acting Director-General, Mary Uduk, stated this at the 2018 annual workshop organised by the Capital Market Correspondents Association of Nigeria (CAMCAN) in Lagos. She said Nigeria should tap

into green bond opportunities, adding that the commission would continue to promote an active enabling and regulative environment for its issuance. “The future holds opportunities for renewable energy, energy efficiency, infrastructure, food, agriculture, and the task ahead is to ensure funds are channeled to green projects with multiple sociomerits,” Uduk said. Uduk said there must be more

domestic participation in green bonds investment for Nigeria to claw its way out of deficit in infrastructure, power and energy, transportation as well as eliminating environmental degradation. The DG SEC, who was represented by Head, Registration and Market Infrastructure Department, SEC, Mr. Emomotimi Agama, said it was necessary for Nigeria to stand at the forefront of innovations and initiatives.

She noted that the second tranche of green bonds which had been issued presented an opportunity for the country to solve its infrastructural deficit. “The biggest opportunity, to my mind, which green bond issuances will present, is the potential to solve Nigeria’s infrastructural deficits, improve agriculture and alleviate poverty as well as protecting the environment-a multi-faceted strategy,” she said.

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Saraki: PDP Has All it Takes to Win 2019 Elections Says party will contest against INEC

Hammed Shittu in Ilorin and Ugo Aliogo in Lagos The Director General of Atiku/ Obi Campaign Organisation and Senate President, Dr. Bukola Saraki yesterday in Ilorin, Kwara State capital, disclosed that the leaders of the Peoples Democratic Party (PDP) in the state and at the national level have what it takes to win the 2019 general election. Saraki, however, raised the alarm that the main opposition political party would face stiff battles from the Independent National Electoral Commission (INEC) and the security agencies in the elections, stating that despite the perceived obstacles, PDP is confident of victory. Saraki, who is the national leader of the PDP, said the party would not only sweep the elections in Kwara State but will win the presidential election by the grace of God. He asked his supporters not to be afraid of the federal might in the forthcoming general electionS, pointing out that he had confronted such situations in two previous elections and floored the incumbents. Saraki disclosed these yesterday at the inauguration of a 42-man Campaign Council for the state chapter of PDP held at ABS constituency office in Ilorin. The Senate president said while the 2019 elections, like any other election has its challenges, experience has shown that with the right tactics and strategies, the PDP will win the state again. According to him, “Don’t be afraid; don’t create fears in

your heart, as I have heard all the talks of the opposition about using the federal might. But we have seen it all. “We saw it in 2003; we saw it in 2015 or don’t you know that they used federal might in 2015? In 2015, with federal might, we defeated them. It was you that God used then, and in 2019, with those who have come to join us, we will defeat them again.” He, however, asked members of the Campaign Council to demonstrate utmost faithfulness in the discharge of their duties to achieve the desired results. Saraki recalled that the Mandate Office has been the platform for every electoral victory of the party since 2003 expressing confidence that God is with his political structure to win the next poll again. “Every election has its challenges. But, we have what it takes to tackle it, and once you are committed, victory is ours,” he said, as he tasked the party on the need to implement a rigorous campaign to ensure everyone is reached. In another development, Saraki has alleged that PDP would face stiff battles from INEC and the security agencies in the election, stating that despite the perceived obstacles, the party is confident of victory. Saraki, who disclosed this yesterday in Lagos at the 2018 Atiku Traders Cup unveiling ceremony organised by Unit2Unit Initiative, noted that one of the biggest challenges in the country is the ability of the electorate to protect their votes. He said: “The pledge you

FG Excited as Firm Invests $600m in Iron Ore Mining, Steel Production Ndubuisi Francis in Abuja The federal government at the weekend expressed excitement over a $600 million (N183 billion) investment in an integrated iron ore mining processing and steel production in Kagarko Local Government Area of Kaduna State by African Natural Resources and Mines Limited. The Minister of Finance, Mrs. Zainab Ahmed, conveyed government’s excitement during a meeting with officials of the company led by Mr. Raj Gupta. A statement by the minister’s Special Adviser on Media and Communications, Mr. Paul Ella Abechi, said the investment would boost the solid minerals sector and the entire economy, which will lead to increased revenue generation and job creation under the diversification policy of the federal government. Ahmed said: “In a bid to diversify away from oil and increase government revenues, I met this evening with African Natural Resources and Mines Limited led by Mr. Raj Gupta who are investing $600million in an integrated iron ore mining, processing and steel production project in Kagarko Local Government Area, Kaduna State. “This is about the first major investment in the mining sector in more than two decades. The project will have a capacity of

5.4 metric tonnes per annum and will create 3,500 direct jobs and thousands of indirect jobs.” According to her, the steel plant will generate 36 megawatts (mw) of electricity to the national grid to boost the already generated megawatts of power for other economic activities. According to her, “About 36 megawatts of electricity is to be generated from the waste heat which will increase power supply to the local council to help develop other industries and urbanise the local area. The surplus will also be added to the national grid.” The minister added that the company’s steel would carry out beneficiation, pelletizing and convert iron into direct used iron for steel manufacturing to galvanise the industrial space into a hub of production of finished goods for local consumption and export. “The integrated steel manufacturing project has its focal point in mining iron ore, beneficiating, pelletizing and transforming into Direct Reduced Iron (DRI) which is the primary raw material in steel manufacturing,” Ahmed said. She expressed optimism that the project would massively impact on the local people and the county at large based on the potential it has to transform the socio-economic life of Nigerians.

wrote is so personalised. The part that is so personalised in the pledge in protecting your vote. “We acknowledge the importance of traders in the economy, and the impact you have played in contributing to the economy. The message we have for traders is that they should go and cast their vote on election

day. Don’t stay in your house and give excuses why you could not vote. We are imploring you to come out in en mass to vote and protect your vote. The biggest challenge we have in this country is the ability to protect our vote. It is obvious we know that we are going to win, but the next challenge we have is protecting

our votes.” Saraki, who was represented at the event by the Onuoha Nnaji, noted that from their campaign analysis, they have discovered that they are contesting against three entities-the candidate, INEC and security agencies. “So, we should acknowledge that it is not just a fight, there are

other forces behind. INEC is a force, and the security agencies are also a force.” The Senate president further noted that the All Progressives Congress (APC)-led government has displayed how the security agencies and INEC can be a force with the Osun and Ekiti States elections.

ALUMNI ASSOCIATION…

L-R: Sustainable Business Chair, University of Edinburgh, Scotland, Prof. Kenneth Amaeshi; Publisher, The Abuja Inquirer, Dan Akpovwa; and Group Managing Director, Transcorp Hotels Plc, Valentine Ozigbo, all members of the Chevening Alumni Association, during the 2nd Chevening Nigeria Alumni Leadership Summit held in Lagos …yesterday

2019: Old Midwest Group Holds Summit on Restructuring Alex Enumah in Abuja A movement for the emancipation of the old Midwest region has scheduled a summit in the Delta State capital, Asaba, to drum the need to restructure the federation and for a more equitable distribution of the country’s resources. The summit, billed for December 12, 2018, according to its convener, Dr. Don Pedro Obaseki, would be used to task all the 2019 presidential aspirants their plans for the old Midwest region which

currently comprises of Edo and Delta States. Obaseki said the people of the region have been so marginalised that they can no longer hold back while their resources are being frittered away. “The summit is being put together to allow all those who aspire to rule Nigeria after 2019 to tell us what they intend to do about our marginalisation. We will do everything humanly possible to make sure that those who do not want to change are situation in Edo and Delta do not have our votes,” said Obaseki.

He traced the marginalisation of the region and its people to the incursion of the military into Nigerian politics, stressing that today while other regions of the country had been split into several states, the Midwest only boasts of two states. “We want our people to know that as at 1966 January 15, when the military first intervened in politics in Nigeria, we were one over four. There were just four capitals in Nigeria: Kaduna for the northern region, Enugu for the eastern region, Benin

City for the midwestern region and Ibadan for the western region”, he said. “Following the creation of more states by the military administration the old Midwest region had shrunk to two over 36 or arithmetically one over 18”. Obaseki said while the movement is not calling for a break-up of the country, it is advocating for a more equitable and justifiable distribution, not only of the wealth of the country, but also of the originating sources of those wealth and the powers there from.

Bayelsa Lauds Buhari, Jonathan, Osinbajo, Others for Attending Dickson Mother’s Burial Emmanuel Addeh in Yenagoa The Bayelsa State Government yesterday expressed its gratitude to all those who attended the funeral activities of late Mrs. Goldcoast Dickson, mother of the state Governor, Seriake Dickson. The state government also lauded the many contributions made by individuals and organisations as well as the prayers offered by the clergy. The state Commissioner for Information and Orientation, Daniel Iworiso-Markson, in a statement on behalf of the government, described the turnout at the burial as massive and gratifying. Iworiso-Markson in the statement noted that there couldn’t have been a better way

to show the love and solidarity those who attended the funeral activities have for the Dickson’s family and the state in general. He stated that the government viewed the tremendous outpouring of support as an immeasurable love and infinite friendship which would never be taken for granted, but will forever remain indelible. The statement stressed that the state government holds in high esteem those who personally attended the burial and those who couldn’t but sent representatives. It stated that it profoundly thanked President Muhammadu Buhari for his condolence message which was read by the Secretary to the Government of the Federation (SGF), Mr. Boss Mustapha; former President,

Dr. Goodluck Jonathan; Vice President Yemi Osinbajo and his wife, Dolapo. The statement further appreciated pormer Vice President and Peoples Democratic Party (PDP) presidential candidate, Alhaji Atiku Abubakar; his running mate, Mr. Peter Obi; the Deputy Senate President, Ike Ekweremadu, among others for paying their last respect to the departed matriarch of the Dickson’s family. Also mentioned in the statement was the Speaker of the House of Representatives, Yakubu Dogara, who represented the National Assembly; the Governors of Delta State, Dr. Ifeanyi Okowa; Cross River State, Prof. Ben Ayade; Edo State,

Mr. Godwin Obaseki; Rivers State, Nyesom Wike; Abia State, Okezie Ikpeazu; Ebonyi State, Dave Umahi, and Sokoto State, Aminu Tambuwal. Others are the Chairman of the PDP, Prince Uche Secondus; members of the party National Working Committee (NWC); former Governor of Delta State, Chief James Ibori; former Governor of Sokoto State, Attahiru Bafarawa; the Chairman of the Board of Trustees (BoT) of the PDP, Walid Jibrin, among others. The late Dickson who died on August 8, 2018, at the age of 72 was buried at Enimieyi Compound, Esinekrizi Quarters, Toru Angiama Community of Patani Local Government Area of Delta State last Saturday.

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Again, Falana Disagrees with FG on ‘No Work No Pay’ Rule Asks EFCC to stop sealing up suspects’ assets Lagos-based human rights activist and Senior Advocate of Nigeria (SAN), Femi Falana, has argued that the directive of ‘no work, no pay’ rule of the federal government against striking members of the Academic Staff Union of Universities (ASUU) cannot be justified in law on the grounds that only the Governing Councils

of the affected institutions are empowered by the relevant laws to subject the academic staff to any form of disciplinary action. Falana has also advised the Economic and Financial Crimes Commission (EFCC) to stop sealing up assets belonging to suspects of financial crimes. The senior lawyer said in a statement yesterday that

Terror War: FG in Talks with US for Early Delivery of 12 Tucano Aircraft Kingsley Nwezeh in Abuja Following the extension of the delivery date of the 12 A-29 Super Tucano aircraft to 2021 by the United States, the federal government has resumed negotiations with the US Defence Department in a bid to secure an early delivery of some of the aircraft.. Minister of Defence, BrigadierGeneral Mansur Dan-Ali (rtd), said government was “negotiating” with US government for the delivery of “some of the aircraft” earlier than the scheduled date. “Government is worried about the delay and the new delivery date. We are still negotiating. We are getting some. The communication line is still open”, he said. “They(USDepartmentofDefence) are working according to specifications which would determine those to be delivered”, the minister, who spoke through his Public Relations Officer, Colonel Tukur Gusau, said. Speaking on the matter,Air Force spokesman,Air Commodore Ibikunle Daramola,saidtheChiefofAirStaff,Air MarshalAbubakar Sadique, appealed to the US officials to deliver the aircraft at an earlier date. He said the delay in the delivery of the fighter planes was based on “the internal workings and bureaucracy of the US Defence Department”. In a related development, THISDAY further gathered that Nigerian Air Force pilots and

engineers were already undergoing training in Italy on the handling of the six Augusta 109 Power Helicopters purchased by the government. At a recent meeting with the officials of the United States Department of Defence, the Chief of Air Staff, Air Marshal Sadique Abubakar, had appealed for the release of two of the aircraft before the scheduled date of delivery to aid Nigeria in the war against insurgency. Delivery of the 12 aircraft was originally billed for 2020. He said the defeat of ISIS in Syria and Iraq had the unfortunate effect of exacerbating the problem in Nigeria with the transfer of fighters and equipment into and around the West African sub-region, “thereby emboldening the terrorist group who now have more sophisticated weapons and equipment”. But in an interview with THISDAY, Defence spokesman, Brigadier-General John Agim, said recent reorganisations in the armed forces were “strategies” designed to win the war against insurgency”. “The military has never stopped fighting the insurgents. Reorganisations in the military were part of strategies to continue the war in spite of the challenges and comments in some quarters to the contrary. “The military is determined to keep the peace of the nation and win the war”, he said.

Sowore’s Supporters Arrested by Lagos CP for Pasting Posters Presidential candidate of the African Action Congress (AAC), Omoyele Sowore, has cried out over the continued detention of his supporters by the Lagos State Commissioner of Police for pasting campaign posters. Sowore, who made the shocking revelation via his twitter handle @yelesho, said: “Just spoke with the DPO of Area F, and he shockingly revealed that the Lagos State Commissioner of Police, Imohimi Edgar ordered that our supporters be kept in detention for pasting my posters. Edgar hasn’t been reachable since.” According to the state Police Public Relations Officer, CSP Chike Oti, the anti-crime patrol team of the Lagos State Police Command arrested “six young men for…ripping posters of other political parties and replacing them with that of

the African Action Congress (AAC).” Chike added that the exhibits recovered from the suspects are “a poster bearing the picture of the presidential candidate of the AAC, Sowore; brush, bucket containing gums and torn off posters of other political parties.” The supporters, who were pasting posters as at the time of their arrest in Ikeja (Under Bridge) in Lagos, are Olagokun Banwo, Olagokun Odunayo, Omidiji Damilola, Koolkloud Henry, Ugagu Joseph and Kate Michael. The AAC presidential candidate, who is also a pro-democracy campaigner and human rights activist, has decried the move, and called for their immediate release from detention. The police commissioner could not be reached as at the time of filing this report.

the salaries and allowances of striking lecturers cannot be seized without due process. Last week, the federal government directed the Vice Chancellors of all federal universities in the country to apply Section 43 of the Trade Disputes Amendment Act by seizing the salaries and allowances of the striking members of ASUU. Falana stated that based on his stance on the matter, the Minister of Labour and Productivity, Dr. Chris Ngige, has not challenged the decisions of the Supreme Court which he cited ‘that it is the exclusive powers of the Governing Council of every

university to discipline lecturers whose employment enjoys statutory flavour’. However, he said: “With magisterial authority, Ngige was reported to have said that until section 43 of the Trade Disputes Amendment Act which disentitles employees to payment of salaries and allowances during strikes ‘is expunged or repealed through legislative process by the National Assembly, it remains not just applicable but a point of law for compliance by all citizens of Nigeria’.” Falana further noted that: “It is curious to note that the

minister did not disclose that the federal government has always put the law aside in a bit to end strikes embarked upon by workers in the public service. In other words, a clause is usually inserted in collective agreements that employees who had taken part in an industrial action would not be damnified in any manner whatsoever and howsoever.” He stated that the practice was judicially endorsed in the case of Senior Staff Association of Nigerian Universities v Federal Government of Nigeria (unreported suit no NIC/8/2004 whose judgment was delivered

on May 8, 2007) where the National Industrial Court held that “...it is perfectly lawful for an employer to choose to dispense with the ‘no work no pay’ rule. “In other words, strike pay is lawful if an employer chooses to pay same and not to penalise the strikers in any other way for the strike. It is lawful for employees to agree with their employer that wages will be paid and no other detriment suffered even if the strike embarked upon.” In another development, Falana yesterday advised the EFCC to stop sealing up assets belonging to suspects of financial crimes.

RECEIVING DIVINE ENDORSEMENT…

L-R: Wife of Pastor, House on the Rock, Enugu, Rev. Edwin Bia Yeibo, Sonia; Pastor Yeibo; Governor Ifeanyi Ugwuanyi of Enugu State; and American singer, Don Moen, during the ministry’s gospel concert in Enugu… yesterday.

NLCVows to Move against Political Class over Failed Health Sector Kuni Tyessi in Abuja The Nigeria Labour Congress (NLC) has vowed to give more trouble to the political class who after failing to fix Nigeria’s health sector, run to other countries to access quality healthcare services. The Congress said it would achieve this by mobilising its counterparts in over 163 countries to frustrate Nigerian political elite who embezzle the country’s resources and run to other countries. The NLC President, Ayuba Waba, gave out their intention when the officials of the Medical and Health Workers Union, led by its President, Josiah Biobelemoye, gave him a surprise reception at Nnamdi Azikwe International Airport, Abuja, while returning from Denmark yesterday. NLC president was at the

meeting in Denmark to elected President of the International Trade Union Confederation (ITUC). ITUC is the largest trade union federation in the world and represents 207 million workers across the globe with 331 labour centres in 163 countries. Wabba is the first African to be elected President of ITUC. The election is for a term of four years. Waba said: “Initially, we are struggling alone, but now we have over 163 countries that we can give instruction and they will extend solidarity to Nigerian workers. “It is also high time our politicians, looters and elites realised that once they loot our resources, we are going to liaise with the airport workers, once they are leaving the country to another destination. They should be sure that we will mobilise people to

turn them back. “They must stay here and fix our economy and make Nigeria work. Therefore, having 207 million workers under the banner of the ITUC, and giving us the mandate to provide leadership for them, it means that it will be well for all Nigerian workers, and those issues that have made us slaves in our own country must continue to receive appropriate attention.” While insisting that the political elite should either fix the health sector or face more trouble in the years ahead, the NLC president said: “When they go outside this country to access quality healthcare without fixing our healthcare, we will tell our counterparts out there that if they go with headache, they will come back with hypertension because that is not what we

expect.” He vowed that the NLC would fight the recent introduction of ‘no work, no pay’ policy by the federal government to a stand-still, noting that such policy has no place in modern industrial relations. Wabba, therefore, called on President Muhammadu Buhari to “actually give space for consultation. Let him not only hear from one side-his appointees-who, in most cases, have failed in their responsibilities. “He should also hear the perspectives of the unions and the workers, he will realise that where the truth lies.” According to the NLC President, “The people who have failed in their responsibilities to this country, resort in feeding the various strata of the country with lies.

THISDAY Editor Loses Brother The family of John Ukwelibwang Ushigiale of Kakwalaka Village,

Late Paul Azungwu Ushigiale

Bendi 11 in Obanliku Local Council Area of Cross River State regrets to announce the death of their son, Paul Azungwu Ushigiale, who passed on recently after a brief illness. A statement signed by the Managing Editor, THISDAY, Joseph Ushigiale, on behalf of the family announcing the programme for his rite of passage, stated that a wake keep would hold at his residence, No. 3 Kings Avenue,

Lanre Bus stop, off Isheri - Igando road, Alimosho on Tuesday, December 11. It said the body would leave the General Hospital, Sankwala on a motorcade where it would be laid for a christian wake keep and vigil on Friday, December 14 in Kakwalaka village Bendi 2. The following day, Saturday December 15, according to the statement, an open air service to be conducted by the General

Overseer and Senior Pastor, Reigners Chapel, Pastor Caleb Abu Akagwu, would hold at Ushigiale compound along Kakwalaka - Ukweliko - Kutiang road followed by interment, entertainment and goodwill messages. The funeral rites would conclude with a thanksgiving ceremony on Sunday, December 16 at the Catholic Church, Kakwalaka village.

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Shettima, el-Rufai Storm Ekiti Today to Reconcile Warring APC Members Victor Ogunje in Ado Ekiti As part of the fence-mending moves initiated by the All Progressives Congress(APC) to resolve the crisis that emanated from the conduct of the party’s primary elections, the Governor of Borno State, Kashim Shettima and his counterpart from Kaduna State, Mallam Nasir el-Rufai will today(Monday) visit Ekiti State to mediate in the dispute causing disaffection within the party. The governors and members of the APC National Working Committee (NWC) peace and reconciliation committee were

mandated to resolve the crisis that arose from the conduct of the State and National Assembly primary elections held in the state in October, 2018. The primary election for the State and National Assembly seats were conducted in Ekiti State by a five-man committee headed Dr. Ibrahim Sule. Most crisis-ridden was the Ekiti North senatorial district where some senatorial aspirants - Dr Olusegun Osinkolu, Mr. Kayode Otitoju and Cyril Fasuyi had expressed their anger over the emergence of Senator Olubunmi Adetumbi in the primary election they claimed did not hold.

Also in the same zone, former House of Representatives’ member, Hon. Bimbo Daramola , Mr. Bunmi Ogunleye and Mr. Femi Ajayi alleged that results were allegedly conducted to favour one Mr Peter Owolabi to emerge as the candidate for Ekiti North Federal constituency 1. Also in Ekiti North constituency 2, Mr. Kolawole Akinlayo accused

some party stalwarts of deploying their influences and contacts to impose Mr. Ibrahim Olanrewaju as the party’s candidate against popular will. The APC State Chairman, Paul Omotoso, confirmed to journalists in Ado Ekiti yesterday that committee would visit the state today.

gains already made through the efforts of the state working committee (SWC) to ensure that the aggrieved are brought on the same page with the party. The APC chieftain added that all security outfits in the State would be contacted to provide adequate security, saying the committee members have nothing to fear.

He appealed to aggrieved aspirants to be peaceful and civil in their conducts to avert further crisis that could rip the party apart ahead of 2019. Omotoso said the local chapter of the party had gone far in persuading some of the aggrieved aspirants to embrace peace, saying the National Committee would only consolidate on the

Osinbajo Jets Out to Germany, Egypt Shola Oyeyipo in Abuja Vice President Yemi Osinbajo will today speak with a group of notable German business leaders in Berlin, Germany. A statement from the presidency which was signed by the Senior Special Assistant to the President on Media and Publicity, office of the Vice-President, Mr. Laolu Akande, said Osinbajo is scheduled to speak on the potential of the Nigerian market. According to Akande, Osinbajo would also speak on the gains recorded by the country through its ‘Ease of Doing Business’ reforms. He said: “The President Muhammadu Buhari administration ‘Ease of Doing Business’ reforms have helped in improving the country’s ranking in the World Bank’s Doing Business Index 2017, where Nigeria climbed up 24 places and was listed among the 10 most reformed economies globally. “Also, the World Bank noted that Nigeria made significant progress across several indicators, including starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency. “The Berlin business interactions with the vice-president is being organised by the Nigerian Embassy in Berlin in conjunction

with the German-African Business Association (Afrika-Verein), and the meetings will consolidate on the outcome of the German Chancellor, Angela Merkel’s visit to Nigeria last August.’’ Akande said while on the trip, the vice-president would equally meet with major German financial sector executives with interest in investing in Nigeria and other business leaders in sectors such as agricultural seeds production, technology and renewable energy. Osinbajo is expected to be in London tomorrow to be part of the Royal Society investment forum hosted by Jeune Afrique Media Group with the theme: `Investing in Africa’. “From there, he would proceed to Cairo, Egypt, where he would represent President Buhari later in the week at the First Intra-African Fair (IATF), taking place in Cairo from December 11 to December 17. At the IATF Nigeria Day programme, the vice-president will be delivering the keynote address. “The fair is being organised by the African Export and Import Bank (Afreximbank) in collaboration with the African Union to boost intra-African trade,’’ he said The spokesperson to Osibanjo said his principal, in company with government officials of relevant agencies, is expected to depart Nigeria on Sunday and is due back next Thursday.

Buhari Felicitates with Ayinla at 70 Shola Oyeyipo in Abuja President Muhammadu Buhari has felicitated with former Chief of Naval Staff, Vice Admiral Jubril Ayinla, who turns 70 on December 10, 2018. President Buhari, in a message by his Special Adviser on Media and Publicity, Mr. Femi Adesina, congratulated Ayinla for his outstanding military career, with many decorations for gallantry and outstanding leadership, and his contributions to the development of Nigeria, which include serving as Minister of Commerce and Tourism, and Minister of Health. “The president joins family, friends and professional

colleagues of the former Chief of Naval Staff in celebrating the many years of hard work, sacrifice and discipline that culminated in his reaching the peak of his military career. “President Buhari believes the wealth of knowledge and experience Admiral Ayinla gathered from service remain useful to the country, urging him to continue to inspire younger officers to imbibe the enduring legacies of integrity, loyalty and patriotism. “The President prays that God will bless Vice Admiral Ayinla and his family, and grant him more years of good health and wisdom to keep serving the country,” Adesina said.

TRAFFIC IN THEIR MINDS...

L-R: Chief Executive Officer, Lagos State Traffic Management Authority (LASTMA), Mr. Chris Olakpe; Commissioner of Police, Mr. Edgal Imohimi; Lagos State Governor, Mr. Akinwunmi Ambode; Commissioner for Transportation, Mr. Ladi Lawanson; Attorney General and Commissioner for Justice, Mr. Adeniji Kazeem; Chairman, Lagos Neighbourhood Safety Corp (LNSC), Mr. Israel Ajao; and Lagos State Sector Commander, Federal Road Safety Corp (FRSC), Mr. Hyginus Omeje, addressing journalists shortly after a meeting with heads of security agencies and officials LASTMA at the LASTMA Yard, Oshodi...yesterday,

Kaduna Government Mourns Senator Aruwa John Shiklam in Kaduna The Kaduna State Government has described the late Senator Mukhtar Ahmed Aruwa as a philanthropist and politician who contributed to the development of the state. Aruwa, who was said to be battling with an undisclosed prolonged health problem, died yesterday in Kaduna. The state government in a statement issued by the spokesman to Governor Nasir el-Rufai, Samuel Aruwan, said the state government was sad with news of Aruwa’s death.

The statement described the late senator as a philanthropist per excellence who assisted people in different sectors and made significant contributions to sports in the state, especially football and polo. The statement noted that Aruwa “established the Ranchers Bees Football Club that produced many stars, like Daniel Amokachi, Tajudeen Oyekanmi, Abubakar Balarabe and the Babayaro brothers. “He was also into farming where he employed many people and helped to develop several communities in our

state. “He was a member of Kaduna State Elders Committee and participated in several peace initiatives, including the Kaduna State Peace and Reconciliation Committee of 2011. “On behalf of the government and people of Kaduna State, we extend our heartfelt condolences to his immediate family.” The late Aruwan represented Kaduna Central senatorial district between 1999 and 2007 first on the platform of the All Nigeria Peoples Party (ANPP)

and later Peoples Democratic Party (PDP). The funeral prayers which was presided over by Sheikh Ahmad Gumi at the Sultan Bello Mosque in Kaduna was attended by many dignitaries, including former Vice President Namadi Sambo, former Kaduna State Governors, Ahmed Makarfi, Mukhtar Yero, and Nasir el-Rufai and the PDP governorship candidate in the state, Isa Ashiru, among several others. He was buried at the Turaki Aliyu Cemetery, Unguwar Sarki, Kaduna.

You’re APC’s Agent, Impostor, PDP Tells Kashamu The Peoples Democratic Party (PDP) has described the senator representing Ogun East, Senator Kashamu Buruji as a desperate paid agent of anti-democratic forces working to cause confusion, trigger violence and bloodletting in the 2019 general election and derail its hard-earned democracy. In a statement signed by its National Publicity Secretary, Kola Ologbondiyan, described “Senator Buruji is an interloper and impostor, who would soon face prosecution for printing and selling fake PDP nomination forms to members of the public, in violation of the provisions of the Electoral Act and the PDP constitution, which vest such powers only on the party’s National Working Committee.” According to the statement, made available via his twitter handle, “Senator Buruji would

also face the law for conducting phony governorship primary in Ogun State, with the name and colours of the PDP, an activity which only the NWC has the powers to conduct and which it had done after which it submitted the name of then PDP Ogun governorship candidate, Ladi Adebutu to the Independent National Electoral Commission (INEC) at the stipulated time” the party added. It is instructive to note that under the Electoral Act and the PDP constitution, only the NWC, and no other organ of the party at the national or state level, is empowered to submit a governorship candidate to INEC. The party states that “This function has been duly carried out by the PDP national leadership, under the chairmanship of Prince Uche Secondus, upon which

strength he handed Ladi Adebutu, our party’s official flag”. The party added that “Apparently in the desperation to pacify his paymasters and benefactors, Senator Buruji, in violation of the law, has been going around, causing confusion, parading himself as the candidate of our party, even when he did not stand for our primaries, and threatening our leaders, particularly, Prince Uche Secondus, with violence, as he even alluded in his press statement of December 9, 2018, for giving our flag to our candidate, Ladi Adebutu”. The PDP claimed it had “received reports from very high quarters that Buruji has been under pressure from his benefactors at the Buhari Presidency, who reportedly reached a pact with him to destabilise and distract our party with a promise to let him off the hook on his pending

fraud case, for which he is risking imminent extradition from Nigeria”. The statement added that “Buruji has lost all electoral value and cannot be a march for our governorship candidate, in popularity and acceptance by the people, as darkness has no comparison to the light. “The PDP, therefore, urges all security agencies and Nigerians in general to note that Senator Buruji is the aggressor and directly hold him responsible for any breakdown of law and order, since he has given a hint into such inclination by his violent outbursts and threats. “For us in the PDP, our candidate, Ladi Adebutu, is already coasting to victory with the people and there is nothing the Buhari Presidency can do to stop him,” the statement added.

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NEWSEXTRA

SERAP Asks Court to Compel Buhari to Investigate Ganduje over Alleged Bribery Udora Orizu in Abuja Socio-Economic Rights and Accountability Project (SERAP) has sued President Muhammadu Buhari over his failure to direct the Attorney General of the Federation and Minister of Justice, Abubakar Malami, or appropriate anti-corruption agencies to investigate the allegations of bribery against Governor Abdullahi Ganduje of Kano State, as contained in the widely circulated video clips purportedly showing Ganduje receiving bribe. SERAP had asked the president to direct the investigation of Ganduje, stating that there was relevant and sufficient admissible evidence, for him to face prosecution at the expiration of his tenure as governor. The organisation also sought protection for the journalist, Jaafar Jaafar, who reportedly published the video clips. However, SERAP said since the receipt of its letter and to date, President Buhari had failed to grant its requests. Also, a Kano State High Court last week stopped the Kano State House of Assembly from investigating the $5 million bribery allegation against Ganduje. SERAP said it was seeking an order for leave to apply for judicial review and an order of mandamus compelling Buhari to immediately direct

the investigation of allegations Granting the reliefs sought would amended) and anticorruption that although primarily a matter criminal allegation against a assist the Respondent to succeed agencies have the powers to of concern for Kano State, the sitting governor can and should of bribery against Ganduje. In the suit number FHC/L/ in his fight against corruption act on the allegations of bribery allegations of bribery against be investigated pending the CS/2055/18 filed on Friday at and help to combat corruption against Mr Ganduje for the sake Ganduje have assumed such time the governor leaves the Federal High Court, Ikoyi, among many state governors, of discharging their mandates, a proportion as to become office and loses immunity. SERAP expressed dismay Lagos, the organisation said, the who continue to allegedly ensuring transparency and a matter of concern to the applicant’s requests were not mismanage their states’ resources accountability, promoting the federation as a whole, and at the respondent’s failure onerous but simply based on with almost absolute impunity.” common good, peace, order therefore, to the government to instruct the Attorney General of the Federation “The Attorney-General of the and good government of the of the respondent. issues of public interest, good anti-corruption It reiterated that a sitting and governance, transparency and Federation has power conferred federation (which includes governor can be investigated agencies to investigate on him by section 174(1)(a) Kano State).” accountability. The organisation noted under Nigerian laws and any Ganduje The organisation added that of the 1999 Constitution (as it is in the interest of justice to grant the application, as the respondent has nothing to lose if the application is granted. The suit is also seeking an order to compel Buhari to instruct appropriate security and law enforcement agencies to ensure the protection and guarantee the safety and security of journalist Jaafar. The suit filed on behalf of SERAP by its counsel, Ms. Bamisope Adeyanju read in part: “Investigating allegations of bribery against Ganduje would be entirely consistent with the provisions of section 15 subsection (5) of the 1999 Constitution, which requires the government of the Respondent to abolish all corrupt practices and abuse of power, regardless of the state where such practices are taking place. The Constitution defines ‘government’ to include federal, state and local governments. “Growing allegations of corruption against many state governors have not been investigated and several of the governors involved are getting L-R: American Gospel Singer, Donnie McClurkin; Co-Pastor of House on The Rock Church, Ifeanyi Adefarasin; Senior Pastor of all House on away with their alleged crimes. the Rock Churches and Convener of The Experience, Paul Adefarasin; American Singer-Songwriter, Don Moen and Nigerian Gospel Artiste,

THE EXPERIENCE...

Nathaniel Bassey at The Experience Lagos Press Conference at Eko Hotels, Lagos...recently

Don’t Let EFCC Set Zamfara on Fire, Activists Tell Buhari Pro-democracy activists in Zamfara State, under the aegis of the Zamfara Unity Forum, have called on President Muhammadu Buhari, to warn the Economic and Financial Crimes Commission (EFCC) to steer clear of the politics of Zamfara State in order to avert a major crisis. In a statement issued yesterday and signed by Usman Bungudu, the convenor of the forum, the activists alleged that the anti-graft body has been contracted by politicians to intimidate and humiliate Mallam Daudu Lawal, whom the national leadership of the All Progressives Congress (APC) has nominated as the consensus governorship candidate of the party. “As we write this, we understand that the EFCC is seriously looking for charges to be brought against Lawal, who has been in detention for over one week. We understand that the arrest was orchestrated by a former permanent secretary who is desperate to replace Lawal as the APC candidate. It must be noted that this same former permanent secretary was indicted in the Abdulrasheed Maina pension scandal, yet the EFCC is allowing itself to be used by the same character. That is how low the EFCC has descended. This was not the original intention of those who set up the EFCC,” the forum alleged. The forum also noted, “We also understand that the retired permanent secretary is being aided and abetted by a

minister, even though the same minister was among those who conceded that Lawal should be the consensus candidate after the stalemate. Despite holding a strategic position in the security architecture of Nigeria, and despite his professional background, he has not used his weight to bring peace to Zamfara State, yet he wants to be governor. When a society does not examine the credentials of people who desire to rule over it, that is what happens. We do not oppose the ambition of any politician who wants to rule the state, but they must not set the state on fire because of their personal interests. Zamfara is bigger than all of us. “We are worried that the political interference by the EFCC is capable of inflaming passions in the troubled state where the security agencies are already overwhelmed by the activities of armed bandits. We do not understand why at this critical stage of the election timetable, the EFCC will decide to dabble into politics. Nobody has been able to reach Mallam Lawal since he was detained by EFCC and this is very curious. If anybody had predicted that this impunity would still be happening in Nigeria in 2018, it would have been dismissed as absurd. But it is still happening.” The forum therefore urged President Buhari to call the EFCC to order and ask the agency not to allow itself to be used as a tool in the hands of desperate, old and tired politicians.

Enugu ‘Nice, Calm, Peaceful’, Says Don Moen Popular American gospel singer, songwriter, pastor and producer of Christian worship music, Mr. Don Moen, yesterday expressed delight at the calm and peaceful atmosphere prevailing in Enugu State. Moen, who spoke in Enugu during the inspirational and soul-lifting gospel concert organized by House on the Rock ministry, which was graced by Governor Ifeanyi Ugwuanyi, said it was a nice and wonderful experience for him to visit the state. The gospel singer while presenting his popular rendition “God is Good”, noted the presence of God in Enugu State, saying: “God is moving in this state, it is showing that this will bring more blessings”.

Also at the event, the General Overseer/Presiding Pastor, Old Path Revival Commission, Pastor Alfred Itiowe, offered special prayers for the re-election of Ugwuanyi in 2019 as well as God’s guidance, protection and more blessings on him and his family. Pastor Itiowe commended the governor for his uncommon humility, closeness to God and commitment to peace and good governance in Enugu State, stressing that “we want God to position him for a greater second term”. He equally prayed against any plot aimed at undermining the untiring efforts of the governor to continue to advance peace and good governance in the state, declaring that “Gov.

Ugwuanyi is going higher in Jesus Name”. The climax of the event was the conferment of a “Leadership Excellence Award” on Gov. Ugwuanyi by House on the Rock’s pastor in Enugu, Rev. Edwin Bia Yeibo, and his wife, Sonia, “in recognition of your sterling visionary leadership in creating an enviable legacy of peace and security for Enugu State”. Responding, Ugwuanyi, who welcomed “all the powerful men of God” to event, including Mr. Moen, thanked the organizers of the concert for the honour to host “an event of this magnitude that is wholly devoted to the praise and worship of the living God”. “It only goes to strengthen our confidence that Enugu

State is truly in the hands of God”, the governor declared, recalling that “a few days ago, we concluded a seven-day prayer and fasting period for peaceful and successful elections in Enugu State come 2019”. His words: “I urge you to also support this intention with your prayers and indeed all that we are doing to make Enugu State a safer, more peaceful and more prosperous place for all. “I use this occasion to, once again, thank the Churches and all the religious organizations in Enugu State, for their unceasing support and prayers. For we know that with God on our side, all things will end in praise in Jesus Name. Amen”.

Buhari Applauds $21bn Savings on Imported Food Shola Oyeyipo President Muhammadu Buhari has commended Nigerians for reducing their taste for foreign products, which has increased Nigeria’s food self-sufficiency, and resulted in the savings of over $21billion. President Buhari, in a statement signed by his Special Adviser on Media and Publicity, Mr. Femi Adesina, said the humongous savings will be deployed to other critical areas like infrastructure, education, health care, and many others. Adesina said President Buhari’s comment was a reaction to recent disclosures by the Central Bank

of Nigeria governor, Mr. Godwin Emefiele, who spoke at the 2018 Annual Bankers’ Dinner, where he said: “Noticeable declines were steadily recorded in our monthly food import bill from $665.4 million in January 2015 to $160.4 million as at October 2018, a cumulative fall of 75.9 per cent and an implied savings of over $21 billion on food imports alone over that period. Most evident were the 97.3 per ncent cumulative reduction in monthly rice import bills, 99.6 per cent in fish, 81.3 per cent in milk, 63.7 percent in sugar, and 60.5 percent in wheat. We are glad with the accomplishments recorded so far.”

President Buhari said with the commitment of Nigerian farmers, and the support given by the government, “in no distant future, food importation will be completely alien to us, and we will even export actively, thus reversing our position as a mono- product economy.” The CBN governor equally spoke on the number of jobs created in the agriculture sector: “In the agriculture sector, the Anchor Borrowers’ Programme (ABP) has ensured that Nigeria emerged from being a net importer of rice to becoming a major producer, supplying key markets in neighbouring countries. As at October 2018, a total number of 862,069 farmers cultivating

about 835,239 hectares, across 16 different commodities, have so far benefited from Anchor Borrowers’ Programme, which has generated 2,502,675 jobs across the country.” Describing the development as “heart-warming,” the president said it was just a matter of time before a significantly positive impact would be made in the statistics of the unemployed in the country, particularly from the agriculture sector. He asserted: “We are on a productive voyage, which would see the ship of state berthing at the harbour of food self-sufficiency, gainful jobs, peace and prosperity for Nigerians.”

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T H I S D AY ˾ MONDAY DECEMBER 10, 2018

MONDAYSPORTS

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

NPFL NEWS…

Ezenwa: Why I Dumped Enyimba for Katsina Utd Femi Solaja with agency report

Super Eagles goalkeeper, Ikechukwu Ezenwa, has revealed why he left Nigeria Professional Football League (NPFL) giants Enyimba FC. The goalkeeper recently agreed to join Enyimba’s rivals Katsina United, who are also campaigning in the NPFL. “I needed to play regularly. Its a very important decision in my career,” Ezenwa said on Smooth FM yesterday. “Although I had a good time at Enyimba but as a player you have your

decisions to make and I’ve taken the decision to play for Katsina United “The deal has not been done but Ikechukwu Ezenwa is there to play for Katsina United in 2019,” he continued. “There is a possibility to play in Europe, its just a (verbal) discussion that I had with them (Katsina United) that they’re interested in having me play for them and I said yes, I’m going to play for them. “A man must have a plan B. As I’m talking to you Ikechukwu Ezenwa is a free agent

and I’m looking forward to moving on with my career in Europe and I know that if I’m to play in the NPFL in 2019, it has to be for Katsina United. Meanwhile, the NPFL transfer window that opened on October 20 is expected to close on

December 30. NFF’s Manager in charge of Transfer Matching System, Nasiru Jubril had announced that the first window for the 2018/2019 Season will end next week Thursday while the second window for any team that may want to beef their squads

opens between January 30 and February 28, 2019. “It is only within these periods that players can be registered/transferred locally, and from other countries to Nigeria. “However, players are free to move from Nigeria to other countries as long as the windows

in those countries are open,” Jibril stressed. The only exceptions to the rule, according to the ex international is open to professional players who are out of contract before the window must have closed or before the window opens for registration.

Atlanta United players and officials celebrating after defeating Portland Timbers 2-0 to win the MLS Cup in the United States of America…yesterday

Adesokan Rules S’Africa International Badminton Championship Ezinwa

CAF BEACH SOCCER

Supersand Eagles Defeats Libya, Ready for Tanzania Nigeria turned back Libya 6-3 yesterday afternoon to brighten her chances of a place in the semi finals of the on-going CAF Beach Soccer Cup of Nations in Sharm El Sheikh, Egypt. The win came about 24 hours after the two-time African champions lost 0-2 on penalty shoot-out to Senegal, after both teams ended it 4-4 at regulation and extra time. Emeka Ogbonna, best player of the last edition of the competition held in Lagos in 2016, contributed two of the goals to add to the lone strike he secured against four-time champions Senegal on Saturday, to take his tally to three at this tournament. Abu Azeez, another star player on the Nigeria side, also netted a brace, while Emmanuel Ohwoferia and Suleiman Ogodo got one goal

each as the Supersand Eagles handed the North Africans the same treatment they got in the hands of the Super Eagles in two 2019 Africa Cup of Nations qualifiers in October. With the Supersand Eagles having regained their buoyancy and marksmanship, debutants Tanzania are in the firing line as they take to the sands against Nigeria today starting from 2.30pm Egypt time (1.30pm Nigeria time). Coach Audu ‘Ejo’ Adamu is likely to throw another star player Victor Tale into the fray to ensure a baptism of fire for the East Africans, while paving the Nigerians’ route to the last four. The two finalists in Sharm El Sheikh will represent Africa at the 2019 FIFA Beach Soccer World Cup scheduled for Paraguay.

Nigeria’s Dorcas Adesokan one again did the country proud in Cape Town when she defeated Domou Amro of Jordan 22-20, 21-12 to emerge the champion of the South Africa International Badminton Championship, which ended yesterday. In the first set, Adesokan saw off an impressive Amro by two points, but the Nigerian

dominated the second set to win by nine points. The Jordanian had no answer to Adesokan’s incisive play in the second set and could only watch as the Nigerian went home with the top prize. Adesokan said she was very happy she won the championship especially with the challenges they had to surmount

as well as the effort and sacrifices made by Badminton Federation of Nigeria (BFN) to ensure they played at the championship. She promised to continue putting in her best effort while flying the flag of Nigeria. “First, I must commend the BFN for doing everything possible to get us to South Africa. Without their effort, it

wouldn’t have been possible. “The championship was keenly contested but I am happy to have emerged victorious. We had many top players at the event but the experience I have garnered at various international tournaments helped me a lot. I promise to continue doing my best for my country,” she added.

GOtv Boxing Night 17: Real MLS Cup: Atlanta Utd Beats One Eyes N1.5m Cash Prize Portland Timbers to Win Title Reigning West African Boxing Union (WABU) lightweight champion, Rilwan “Real One” Oladosu, has expressed his desire to win the best boxer award at GOtv Boxing Night 17 and the cash prize of N1.5m attached to it. The event holds on December 28 at the Tafawa Balewa Square in Lagos, and will feature live musical performances by Burna Boy, Wande Coal, Teni Da Entertainer and Daddy Showkey. In a telephone chat, Oladosu, who won N2.5million when he emerged best boxer at GOtv Boxing Night 14, said he will ensure he puts in his best when he takes on Mubarak Hamzat at GOtv Boxing Night 17. “I believe I am good enough for the best boxer prize. I have won it before and I hope to win it again. What the sponsors are doing is impressive and has changed the lives of Nigerian boxers. May God continue to bless them. But Hamzat should

perish any thought of winning. Real One cannot be defeated,” he said. GOtv Boxing Night 17, an eight-fight show, will be headlined by the World Boxing Federation (WBF) Intercontinental Super Featherweight title bout between Nigeria’s Segun “The Machine” Wahab, and Tanzanian Issa “Peche Boy”Nampepeche. The winner of the bout will have a chance to take a shot at the WBF world title in the weight division. Also scheduled for the day is an international middleweight challenge between US-based Nigerian, Oluwafemi “The Eagle” Oyeleye and Meshack “Smart Boy” Mwankemwa of Tanzania. Domestic big names in action include incumbent African Boxing Union champion (ABU), Oto “Joe Boy” Joseph, Olaide “Fijaborn” Fijabi, Ridwan “Scorpion” Oyekola and Nurudeen “Prince” Fatai.

Atlanta United early hours of yesterday won the MLS Cup in only their second season in the competition with a 2-0 win over Portland Timbers. MLS Most Valuable Player, Josef Martinez, opened the scoring on 39 minutes with his 35th goal of the season and Franco Escobar added a second after the break. It was Atlanta boss Gerardo Martino’s final game in charge before he becomes head coach of Mexico. “We won it, it feels good,” he said. “If I had to choose a way to leave somewhere, this is the best way.” Venezuela international Martinez broke the deadlock for the Five Stripes when he rounded Timbers goalkeeper Jeff Attinella before slotting the ball into an empty net. The Timbers, featuring former Aston Villa, Birmingham and West Brom defender Liam Ridgewell,

started the second half strongly but were soon undone when Martinez won a free-kick for Atlanta. Miguel Almiron’s setpiece was flicked on by Martinez into the path of Escobar, who fired into the bottom corner. “For me personally, this is up there with the top moments,” said Atlanta goalkeeper Brad Guzan, who previously played for Aston Villa, Hull and Middlesbrough. “You never know if you’re going to have this opportunity again.” Atlanta - who finished second in the Eastern Conference in the regular season - were formed in 2014 and started playing in the MLS in 2017. Victory is the city’s first major pro sports title since 1995 when the Atlanta Braves baseball team won the MLB World Series.

Monday December 10, 2018

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Price: N250

MISSILE Oil Marketers to FG “Since government globally is recognised as a continuum, FG is obliged to settle all legitimately incurred and verified sovereign debts due to marketers promptly” – Depot and Petroleum Products Marketers Association of Nigeria (DAPPMA) denying reaching an agreement with the Federal Ministry of Finance on the payment of the N800 billion subsidy arrears

ALEXOTTI OUTSIDE THE BOX

alex.otti@thisdaylive.com

Politics: Why We Must All Get Involved A few friends hosted a dinner in my honour at Federal Palace Hotel in Lagos yesterday. I’m taking liberty to share excerpts of my speech with readers today.

T

oday, I’ve chosen to talk about the low level of participation in our nation’s political process especially amongst our educated elite, professional class, young people, the clergy etc. I remember with great nostalgia, the vibrancy and political activism of the then irrepressible National Association of Nigerian Students, NANS. I am reminded of the public agitations which gets me wondering about what happened to us that we have not only been cowered into political disengagement and apathy but have allowed our political process to be hijacked by professional politicians and Lilliputians, not to mention their handpicked godsons and criminal apprentices. Consequent upon the abdication of our civic responsibility of political participation we have ceded the political playing field to fake merchants of change whose notion of governance is one that is geared at perpetuating their political dominance and self-aggrandizement. Ever since the advent of our nation’s second attempt at electoral and constitutional democracy, the governing elite who have straddled our political landscape have continued to be sustained by a culture of silence of both the likes of us here today and the dispossessed. Their grip on power has been strengthened by a silence and obsequiousness on the part of many Nigerians that has not only been defeating but also economically, socially and politically crippling. As a result of the self- imposed political disengagement by many of us bad things in our polity keep getting worse. It was Plato that quipped “one of the penalties of refusing to participate in politics is that you end up being governed by your inferiors”. A cursory look around the country both in governance and the staffing of our many institutions reveals the emergence of mediocrity, with the best and the brightest scared away either by revulsion of our politics, the do or die nature of our electoral process or the lack of faith, confidence and trust in our political system and processes. On the many rare occasions when some of the disillusioned and disaffected voiced their concerns and somewhat muffled comments of rebuke they are treated by a dismissiveness that bothers on ignorance and in some occasion outright hostility and indifference. As a consequence what we find at both the national, state and local government levels are a growing debt burden, economic stagnation and even deterioration, national instability, rising ethnic tensions, growing unemployment, rising incidence of religious intolerance, non-payment of worker’s salaries and pensions etc. It is therefore very unfortunate that in the face of such national malaise many of us still choose to sit on the sidelines or are ensconced in our silos of political apathy and indifference. The reality of our national predicament today is that never in the history of Nigeria’s national and state governance has there been on display for everyone to witness, such a degree of profound incompetence, moral bankruptcy, visionary blindness and governance ineptitude. Maybe it is time to make a semantic distinction between political engagement and political participation. While political engagement could be said to include financial contribution to candidates or political groups, voting, volunteering for campaigns and even making contacts with office holders political participation on the other hand could take the form of getting involved

INEC Chairman, Mahmood Yakubu

with any activity that shapes, affects the political process or outcomes, such as attending party conventions, and registering as a member of a political party. In a sense, it can be said there’s not much of a distinction between the two. Nevertheless, studies in political science inform us that one of the basic civic responsibilities of any citizenry is the extent to which they take part in the political system and process, whether they are voting for a candidate seeking political office, participating in acts of civil disobedience or simply making their opinions and beliefs known and while the aforementioned are the most common forms of political participation, others may include, blogging about a political issue, writing a letter to a public official, publishing opinion page essays, signing a petition, joining an activist group, running for political office etc. As we can see there are many ways to get involved in our political process here in Nigeria, yet the question remains, why the political apathy when as a country we are blessed with the largest concentration of an educated intelligentsia, experienced technocrats, and articulate social commentators in all of Africa? Why the political disengagement in the face of glaring governing mediocrity and incompetence? Why the public silence and subdued indignation when we can raise our voices in protest against mismanagement, malfeasance and the lack of accountability? Why fall victim to the intimidation, political harassment and threats of violence by criminal political elements? It is my honest opinion that there is so much we as citizens can do to change the trajectory of governance in this country if only we can all resolve to actively get involved rather than leave the political process to grafters and political charlatans. As we all know and as I’ve come to discover, every act of political conquest implies both the conqueror and the conquered with the conqueror imposing his views, vision, objectives and values on the vanquished. By staying away from any form of political involvement despite our positions in society, affluence or intellect, we have allowed ourselves to be part of the vanquished and the oppressed majority. Whether we like it or not, we all have invisible scars of the political system and process that have been exploited and hijacked by a criminal few, an electoral system whose integrity has never been a reality only an aspiration, a political process that empowers the strong while hastening the disappearance of the weak. It is time to face the reality that there is no perfect life or a perfect country hence it is our duty as good citizens not to be political bystanders but to get involved-to build a new era of politics

and leadership where we can disagree with one another and still remain friends as we search for common ground and compromise with willingness and humility. Most times, people in our positions in life tend to forget we are animals until we become preys. We isolate ourselves from happenings outside our cocoon of privileged comfort because we deem ourselves safe and unaffected by certain policy outcomes that affects others. Many of us suffer from severe cases of dissociation –removal from our emotional self until we become victims. Conscious of the fact that everything of lasting value demands a great degree of sacrifice and commitment and not a product of convenience it has been a source of enduring comfort to realize that the sacrifices of today give rise to the greatness of tomorrow and that the pain and regret of knowing that at one point in our lives we had the opportunity to bring about change in the lives of others is one that is difficult to live with. As Ronald Wayne, co-founder of Apple once stated, “the future belongs to those who can foresee it and give all it takes to get there”. I must confess that not many of us pause in our trepidation of what the future portends in this country and how to influence it or better still see the possibilities of a glorious future and work assiduously towards it realization. No country is better than its citizenry, its institutions and its constitution and to the extent that we aspire for a better nation let us not just make fame with our individual successes and achievements but use that fame to change people’s lives. Let us have hope- hope that sees beyond the darkness of the moment and the possibilities of the future as democracy does not have a self-correcting mechanism unless we help to set it on the right course. As a matter of fact, what sets democracy apart from every other form of government is the input of ordinary citizens and as one notable public opinion writer put it, “it is the input of ordinary citizens into their country’s future”. It is the input of both the powerful elite and the powerless when they cast their vote on election day. It is when they register their opposition to their political leaders and the way they are governed, attend a political rally, engage in public protest and civil disobedience, voice opinions etc. Politics is not supposed to be a blood sport yet it is not supposed to be a spectator sport either for us to sit on the sidelines and applaud or express disgust. So I want to use this opportunity to urge every political bystander to endeavor to get politically engaged, otherwise, what they run from, they may run into and to those who feel the walls of our political process and practice are too thick to crack, let me remind them that even the strongest wall can come crashing down since all that is needed is to find a crack on its surface”. To those who think it is too late to participate because the elections are only a few months away, I will say the ship hasn’t sailed yet but is about to leave the dock hence it is not too late to step on board. Five years ago when I decided to get into politics I, like many of you, have been apolitical and apoplectic about our politics and its enduring horrendous process. As I looked around I saw leaders who did not seem to be subject to any variety of democratic constraints ranging from legislative oversights to public opinion. I saw political leaders govern with such transactional styles that became the stimulus for authoritarianism and threat to democracy. I saw Governors who regarded themselves as the sun in their own universe with no form of accountability to the governed. I saw political leaders and office holders who were akin

to roaches hence where you find one, there were many others around. In my home state of Abia with one of the highest number of university graduates, thriving businesses and economic potential, great entrepreneurial spirit etc, I saw a lost, disillusioned, confused and hopeless generation of young people with no hope for gainful employment, an oppressed citizenry suffering in silence and obscurity, entrepreneurs and investors fleeing the state for lack of an enabling environment for their businesses to thrive, failing health standards and increasing maternal and infant mortality and more importantly, the endemic corruption and fleecing of its resources by successive administrations. So, given the deteriorating undercurrent of events in the state I decided to get into politics not to seek fame or affluence but to be an agent of change. In doing so I gave up my job as a bank CEO to the consternation of a lot of people including many of you here today and got myself engulfed in a political process and system that is riddled with all manner of vices, one of which is the attendant hypocrisy of our politicians. It is the kind of hypocrisy that allows us to demonstrate transcendent curse on our political associates when they commit the political apostasy of leaving for another party and when they come back as prodigal sons lavish them with flattering praise and adjectives such as wisdom and courage. However, I was not deterred by any of these and neither should you, if your purpose of getting into politics was borne out of good intentions. So even though we were unsuccessful in 2015 in the sense that the election results were compromised and manipulated, I decided to join the political fray again because of the same concerns that prompted my entry into politics the first time around and for the fact that as Neil Young the American country music singer once said, “it’s better to burn out than to rust”. It is the reason why I am urging everyone to be part of something greater than him or herself. To be part of a change effort in our politics, our political discourse and the manifestation of the future we all desire for ourselves, our children and future generations. So in the next couple of months as the elections approach the question we must all ponder is, who do we hope or expect to be our President, Governors, Senators, and Assemblymen as each political party parades candidates with different philosophies and competences? The truth is that we will need new leaders who will reconnect the country, their states, their local government areas , think outside the box and apply their expertise in new and imaginative ways, hence our inclination in the next few months should not be one of isolation, indifference and nonchalance. The next couple of weeks will test our resolves, our faith in our choices, commitment to change and fidelity to our hopes and vision for a new Nigeria and more particularly, a `new Abia state. Distinguished Ladies and gentlemen, let me end with this favourite quote from Bertolt Brecht thus: “The worst illiterate is the political illiterate. He hears nothing, sees nothing, takes no part in political life. He doesn’t seem to know that the cost of living, the price of beans, of flour, of rent, of medicines all depend on political decisions. He even prides himself on his political ignorance, sticks out his chest and says he hates politics. The imbecile doesn’t know that from his political non-participation comes the prostitute, the abandoned child, the robber and, worst of all, corrupt officials, the lackeys of exploitative multinational corporations.

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