WEDNESDAY 12TH DECEMBER 2018

Heirs Holdings, Afrexim Bank Sign $600m Facility Deal To scale up energy investments

Nume Ekeghe As a further demonstration of African Export-Import Bank’s (Afrexim) mandate to facilitate growth of intra-Africa trade

and support the development of African businesses, the bank yesterday in Cairo, Egypt signed financing facilities totalling US$600 million with Heirs Holdings Group,

a pan-African proprietary investment holding company.

Heirs Holdings, which has significant investments across Africa, in the financial services, resources, real estate,

hospitality and power sectors, would use the facilities to further support its power, oil and gas strategy, as it positions itself as an African leader in integrated natural

resources.

The signing ceremony took place at the Afrexim Intra-Africa Trade Conference holding in Cairo.

The proceeds of the facilities

would assist the Heirs Holdings Group’s vision of creating a dynamic resource based company, focused on Continued on page 8

Nigeria Still Exposed to Economic Shocks, Moody's Warns… Page 10 Wednesday 12 December, 2018 Vol 23. No 8638. Price: N250

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Secondus: More Nigerians Killed under APC’s Watch than Civil War

Alike Ejiofor, Sunday Okobi, Ugo Aliogo in Lagos and Adedayo Akinwale in Abuja

The National Chairman of the Peoples Democratic Party (PDP), Prince Uche Secondus, yesterday carpeted the All Progressives Congress (APC)-led federal government’s security records, saying under its watch, more Nigerians had been killed than during the Civil War that ended in 1970.

Secondus spoke as a guest of ‘Morning Show’ programme of Arise TV, a broadcast arm of THISDAY, and said, “More people have been killed in the last three years than the Civil War that took place in 1967 to Continued on page 10

PEACE ON THEIR MINDS...

L-R: Catholic Bishop of Sokoto Diocese, Bishop Matthew Kukah; Sultan of Sokoto, Alhaji Sa'ad Abubakar III; President Muhammadu Buhari; and Chairman, National Peace Committee, Gen. Abdulsalami Abubakar (rtd), during the signing of Peace Agreement and Memorandum of Understanding by presidential candidates and national chairmen of Nigeria’s political parties, in Abuja…yesterday godwin omoigui

Buhari, 67 Others Commit to Peaceful Electioneering Atiku cites communication gap for his absence

Iyobosa Uwugiaren, Shola Oyeyipo and Adedayo Akinwale in Abuja President Muhammadu Buhari yesterday set the tone for rancour-free 2019 electioneering as he joined 67 other presidential candidates

to sign a peace accord anchored by the National Peace Committee.

The Peoples Democratic Party’s (PDP) presidential candidate, Alhaji Atiku Abubakar, was, however, absent at the signing ceremony, citing communication gap

between his party and the secretariat of the peace committee.

Although the committee led by former Head of State, Gen. Abdulsalami Abubakar (rtd), said invitations were sent to all 73 presidential candidates, including Atiku,

the spokesman for the PDP Presidential Campaign Council, Mr. Kola Ologbondiyan, told THISDAY last night that neither Atiku nor PDP received the invitation.

The peace accord is an undertaken by the presidential candidates to ensure peaceful

and rancour-free campaigns before, during and after the 2019 general elections.

The candidates are also expected to avoid hate speech, fake news or any act capable of causing socio-political unrest in the country.

THISDAY gathered that

the event was attended by 68 presidential candidates, including that of the ruling All Progressives Congress (APC), President Muhammadu Buhari, who promised to ensure free, fair and credible election.

Continued on page 8

Abiodun Expresses Hope Amosun will Reconcile with Ogun APC… Page 8

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Abiodun Expresses Hope Amosun will Reconcile with Ogun APC Femi Ogbonnikan in Abeokuta Buoyed by the ongoing peace initiatives by the national leadership of the All Progressives Congress (APC), the governorship candidate of the party in Ogun State, Prince Dapo Abiodun, has expressed confidence that Governor Ibikunle Amosun will reconcile with the party and support him to win the governorship election scheduled for March 2019.

Speaking yesterday at the unveiling of his policy documents (manifesto) held at his IperuRemo residence, in Ikenne Local Government Area of the state, Abiodun said he was sure that Amosun would help him flag off his campaign.

Amosun had been crossed with the party over the failure of his preferred candidate, Mr.

Adekunle Akinlade, to emerge as its flag bearer, leading to the candidate and some of his associates crossing to the Allied Peoples Movement (APM) to realise his ambition.

The governor had repeatedly said he would not back the APC candidate, assuring, however, that he would nevertheless work for President Muhammadu Buhari to win the state at impending presidential contest.

But Abiodun said yesterday, "Of course, the governor of Ogun State is the leader of the party.

And when I am flagging off my campaign, it is the incumbent governor that would help me flag it off.

"I don’t have any doubt in my mind that the issues of misunderstanding would be resolved soon.

"I am sure the governor of

Ogun State will help me in flagging off my campaign. And I am sure he will raise my hands up as the governorship standard bearer of the party in the state.�

On the festering crisis within the state leadership of the party, the APC governorship candidate said he was confident that between now and the elections period, the feuding parties would be reconciled.

According to him, the national leadership of the party through the National Peace and Reconciliatory Committee (NPRC) has waded into the various post-primary election disputes, adding that the case of Ogun State would not be an exception. “I am convinced that there is a lot of time between now and the elections time. And the national leadership of the

party has waded in to resolve the issues that have arisen,� he enthused, adding, "Elections are still about less than 80 days away.

I am sure and confident that between now and that time all the issues relating to our state executives would be resolved.�

Abiodun unveiled 11-point agenda, including good governance, security, economic development, health care, agriculture, infrastructure, tourism, water and electricity, oil and gas and social welfare, which he would implement if elected.

He pledged to give Ogun State focused and qualitative governance and to create an enabling environment for a public private sector partnership, which is fundamental to the creation of an enduring economic development and individual

prosperity of the people of Ogun State.

He disclosed that he would improve citizen's confidence and trust in governance through transparent and accountable leadership.

Abiodun also promised to develop and enhance the value chain for the abundant natural, oil and mineral resources for the purpose of galvanising economic and social development of the citizens of Ogun State.

While speaking on how to improve the internal revenue generation of the state, if elected, Abiodun stated that he would increase the current N6 billion monthly Internally Generated Revenue (IGR) of the state by a minimum of 50 per cent.

He said, "When I get into office I would give you a surprise. But I want you to be rest-assured that

we know exactly what to do.

"With my team, we would engage in an environment of ease of doing businesses.

"So, we want to bring in local and foreign direct investments into the state with ease of doing business. From this, we would derive a lot of revenues and taxes from the initiative. We have different plans that we have laid and planned on how we are going to increase our IGR.�

The APC governorship candidate said he would take advantage of his private sector background to strengthen public and private sectors collaboration for infrastructure development of the state.

He promised that his administration would not be known for demolishing structures, under any guise in the state.

neutral in the interest of peace.

He said, “I wish to call on the Independent National Electoral Commission (INEC) and all arms of security agencies to put the nation first in their conduct. The world is watching us and the task of building or institutionalising trust in our political system and institution is fundamental to the growth and development of our country. “We are gathered here today to perform a very important part of our quest for peaceful political process. We are here to install trust into various contestants. Given the central role that governance plays in our nation state, it is clear that without trust our society cannot thrive or develop.�

The president said the building of trust was a collective duty of all citizens and that the primary concern of those signing the peace accord was to bring about laws, norms, guidelines that would guide the conduct of the election.

He noted that as part of democratic practice, methods of electing leaders have been difficult for people because Nigeria has not had a long tradition of democracy.

According him, “The conducts of our elections have been consistently marred by violence caused by the behaviours of most sections of the political class and their supporters, but there are encouraging signs that we are learning to embrace the responsibilities expected of us. “We are here to commit ourselves, as key actors in the political process; party leaders and presidential candidates, to peaceful and credible conduct of the process. We, the candidates pledge to uphold the highest standard of conducts and encourage our teeming supporters to do same.�

The event attracted notable Nigerians and friends of Nigeria, including, former Chief of General Staff, Commodore Ebitu Ukiwe (rtd); United Nations SecretaryGeneral Special Representative in West Africa and the Sahel, Mr. Mohammed Ibn Chambas;

Chairman of INEC, Prof.

Mahmood Yakubu; Oshiomhole; Interior Minister, Lt.Gen. Abdurrahman Dambazzau (rtd); the Sultan of Sokoto, Alhaji Sa'ad Abubakar 111; Bishop of the Catholic Diocese of Sokoto, Archbishop Matthew Hassan Kukah, Head of the Delegation of the European Union to Nigeria and the Economic Community of West African States, Chairman Dangote Group, Alhaji Aliko Dangote and several others.

only attracting undue media attention to themselves, the National Chairman, Sustainable National Party (SNP), Mr. Bashir Ibrahim, said the protesters did no channel their grievances properly.

According to him, “There is no issue in what the people are raising. They are just making issues out of nothing. The INEC chairman who is the custodian of the election is here and he did speak. So, speaking or not speak does not have anything to do with peace accord. You are invited to come and sign, not to come and address.�

He said before they came to the event they ought to have written to draw the attention of the organisers to what they want corrected.

It took the intervention of Abubakar, who pleaded that the error was his, to pacify the angry party men.

When he was asked that it appeared that the event was a monopoly of the government in power, unlike the last time when he got the former president, Dr. Goodluck Jonathan, and Buhari to sign the accord, the former military leader said, “Are you accusing this committee of working for the president? As far as we are concerned every party was invited and you can see the number of people who participated.�

Heirs Holdings, Mr. Tony Elumelu, said, “We are delighted to be partnering with Afrexim.

The bank continues to play a critical role in the economic and social development of the continent. “Together, we illustrate

that Africa can create world class institutions, which are capable of successfully making the long-term investments necessary for Africa’s economic transformation and catalyse the enabling environment that will unleash Africa’s potential.�

BUHARI, 67 OTHERS COMMIT TO PEACEFUL ELECTIONEERING Explaining why Atiku failed to attend the event, PDP said that it never received any invitation, but, however, promised to investigate whether there were communication lapses or not. ‘’I have spoken with our candidate, the national chairman and the national secretary of our party and even my private secretary whether they received the invitation or not. They all told me they never received the invitation. We need to find out what happened,’’ Ologbondiyan stated.

He, however, added, ‘’Because of our high regard for members of the committee, we are investigating whether there was deliberate act by some people to withhold the invitation in order to prevent our candidate from attending the session. ‘’But globally, our candidate, Alhaji Atiku Abubakar, is known as an ambassador of peace; he is a man of peace; he is committed to peaceful elections and our party is also determined that we have free, fair and credible elections in 2019. We know those who said in 2011 that blood will flow freely if they lose election and in line with their threat, thousands of innocent people were actually killed.’’ Aside Atiku, some of other presidential candidates, Donald Duke of Social Democratic Party (SDP); Kingsley Moghalu of Young Progressives Party (YPP); Oby Ezekwesili of Allied Congress Party of Nigeria (ACPN); and Omoyele Sowore of Action Alliance, were also absent.

Buhari, accompanied by APC National Chairman, Mr. Adams Oshiomhole, joined 67 other candidates to appended their signatures to the peace accord at the event, which took place at the International Conference Centre (ICC), Abuja.

Other signatories included, Mass Action Joint Alliance (MAJA), Legacy Party of Nigeria (LPN), Change Nigerian Party (CNP), Congress of Patriots (CP), Liberation Movement (LM), Labour Party (LP), Modern Democratic Party (MDP), Masses

Movement of Nigeria (MMN), Mega Party of Nigeria (MPN), Nigeria Community Movement Party (NCMP), National Interest Party (NIP), New Nigeria Peoples’ Party (NNPP), Nigeria Peoples’ Congress (NPC), and New Progressives Movement (NPM) among others.

In the accord, the candidates agreed to run issue-based campaigns at national, state and local government levels, pledging to refrain from campaigns that will involve religious incitements, ethnic or tribal profiling, both by themselves and their agents.

They also agreed to refrain from making or causing to make in their names and that of their parties, any public statements, pronouncements, declarations or speeches that have the capacity to incite any form of violence, before, during and after the elections; to commit themselves and political parties to the monitoring of the adherence to the accord by a National Peace Committee made up of respected statesmen and women, traditional and religious leaders.

In addition, those who signed the accord resolved to support all institutions of government, including INEC and the security agencies to act and be seen to act with impartiality and to forcefully and publicly speak out against provocative utterances and oppose all acts of electoral violence whether perpetrated by their supporters and/or opponents.

Emphasizing the import of the event, the Chairman of the National Peace Committee, Abubakar, said peace was essential in ensuring credible polls, commending Buhari’s commitment to ensuring credible polls.

He, however, warned that security was a source of worry and cautioned them against acts of commission or omission capable of making matters worse, while calling on the leadership of the security agencies to lead by example and temper their utterances and action with responsibility and patriotism.

He was also displeased with incitement by some religious leaders.

On his part, former Head of State, Gen. Yakubu Gowon (rtd), who said there would not have been need for worries over the conduct of elections if the processes of electioneering had been straight forward, appealed to politicians and the electoral umpire to build on the gains of the peaceful transfer of power in 2015 to further entrench democratic ethos in Nigeria.

Also addressing the people on behalf of all traditional rulers in Nigeria, the Ooni of Ife, Oba Adeyeye Enitan Ogunwusi, harped on the need for Nigerians to come together to see how things could work better in the country, saying, “What is critical to us is to know that Nigeria is greater than everyone of us.�

Delivering a goodwill message, former Chief Justice of Nigeria (CJN) and an active participant in Nigeria’s electoral reforms, Justice Mohammed Uwais, also called for collaboration among all stakeholders towards ensuring peaceful elections in 2019.

The Head of EU delegation to Nigeria, Ketil Karlsen, noted that Nigeria set an example for Africa and the world in 2015, urging that the country should sustain the tempo in the coming election.

The EU official said, “We welcome steps taken so far towards 2019, and we will continue to support free and fair polls. We urge all to avoid hate speech, violence and vote buying and say yes to peace, inclusiveness, gender equality and access for disabled persons. ‘’We again stress our impartiality as we do not support any particular party or candidate, but support institutions responsible for carrying out the appropriate mandate.�

Addressing the gathering, Buhari emphasized the need to build mutual trust as a way to institutionalize democracy in the country, and pleaded with the security agencies and the electoral umpire to remain

Drama After Buhari Signed Abuja Peace Accord There was, however, a mild drama at the ICC venue of the event after the agreement had been signed by the president and some other candidates, as the National Chairman of Change Nigerian Party (CNP), Mr. Usman Ikeleji; and the National Chairman of Young Progressive Party (YPP), Mr. Bishop Amakiri protested that only Buhari was allowed to make a speech at the event.

Ikeleji said, “Why didn’t they allow any party chairman, even the chairman, Interparty Advisory Committee (IPAC), the umbrella body of registered political parties in Nigeria, to speak? What are we talking about? We thought all party chairmen will be given opportunity to speak. “When we started this peace accord, most of them were not there; they didn’t allow us that even started this thing to even speak! These men are deceiving us – for how long would they be deceiving us? “I am not in support of it.

Our IPAC chairman is the one that is the chairman of all the political parties.�

Amakiri on his part said, “We needed a platform to come and talk. You won’t just bring us here and ask us to just come and sign.

Any painstaking process should be done under due process.�

But contending that the aggrieved party members were

HEIRS HOLDINGS, AFREXIM BANK SIGN $600M FACILITY DEAL ensuring value creation occurs on the African continent, and that value chains are developed for the direct benefit of the broader African economy and consumer.

President of Afrexim, Dr. Benedict Oramah, who signed on behalf of the bank,

said the investment by Heirs Holdings would play a key role in addressing some of the fundamental challenges that have affected the power and energy sectors in Africa. “A world class energy sector is fundamental to the

sustainable growth of businesses in Africa. If we do not deal with these basic matters, growth of trade and exports will always be limited,� he said during the signing ceremony.

Also speaking at the ceremony, the Chairman of

Continued on page 10

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NEWS

Nigeria Still Exposed to Economic Shocks, Moody’s Warns Obinna Chima One of the leading global rating agencies, Moody's Investors Service, has said Nigeria's credit profile, at ‘B2 stable’ is constrained by the country’s continued exposure to shocks because of government’s inability to expand non-oil revenue base sufficiently.

The New York-based agency stated this in its annual credit analysis on Nigeria titled, ‘Government of Nigeria: B2 stable, Annual Credit Analysis,’ released yesterday.

It, however, stressed that the report does not constitute a rating action.

"Although oil revenue has risen in 2018, deficits remain elevated relative to revenue and debt affordability is still weak but improving," Moody's Vice President, Senior Credit Officer and co-author of the report, AurĂŠlien Mali, explained,

adding, "We expect debt levels to remain contained at around 20 per cent of Gross Domestic Product (GDP) in 2019."

Furthermore, the report noted that credit strengths in Nigeria include the large size of the economy and the country's robust medium-term growth prospects, supported by strong domestic demand.

The economy emerged from a 2016 recession, though real growth remains subdued, it noted.

As higher oil prices and oil production of around two million barrels per day helped the economy to improve this year, Moody's forecasts economic growth of 1.9 per cent of GDP this year for Nigeria, up from 0.8 per cent in 2017.

It stated, “Nigeria ranks near the bottom of a number of international surveys assessing institutional strength. Surveys point to the country's relative

Finance Minister, Zainab Ahmed weakness compared to peers in respect of rule of law, government effectiveness and control of corruption. “The sharp decline in oil prices from mid-2014 severely weakened its public finances.

General government revenue halved to 5.6 per cent of GDP in 2016 from 10.5 per cent in 2014. “Since late 2015, the

authorities have stepped up their efforts to increase non-oil revenue. “However, despite these efforts and even though oil prices have recovered to above the budgeted oil price, government revenue has mostly been below target and significantly below pre-crisis levels at around six per cent of GDP.�

It noted that increasing the non-oil tax take remains one of Nigeria's greatest challenges, stating that only a durable increase in non-oil revenue would improve the country’s resilience to oil price volatility and increase realisation rates of capital spending on the large infrastructure projects that is crucial to its economic development.

According to the report, “Until it does, the government's balance sheet will be exposed to further shocks. Deficits will

remain elevated and debt affordability challenged. “The stable outlook on Nigeria's sovereign rating reflects the low likelihood of a shock that further impairs Nigeria's economic and fiscal strength.

External vulnerabilities have receded, supported by a rebound in oil prices and production. “Structural institutional improvements and reforms that increase the diversification of government revenue away from oil would be positive for Nigeria's credit profile. “A sufficient increase in fiscal savings with the potential to offset a protracted economic shock would also be positive,� it added.

In addition, the report stated that “downward pressure could emerge in the event of a prolonged slowdown in growth and investment, an extended deterioration in Nigeria's fiscal position or further delays in

implementing key structural reforms, particularly in the oil sector.�

Nigeria’s GDP growth rate increased to 1.81 per cent (year-on-year) in real terms in the third quarter of the year (Q3, 2018) compared to 1.50 per cent recorded in the preceding quarter, the National Bureau of Statistics (NBS) stated on Monday.

In nominal terms, aggregate GDP stood at N33.36 trillion while real GDP was estimated at N18.08 trillion, according to the Third Quarter GDP report, released by the statistical agency.

Growth in Q3 was largely helped by the non-oil sector, which contributed 90.62 per cent to total GDP while the oil sector contributed 9.38 per cent to growth in the review period.

But Oil GDP contracted by -2.91 per cent compared to -3.95 per cent in Q2 and 23.93 per cent in Q3 2017.

power supply for specific areas, adding that the strategy would ensure availability of power supply across the country within his first two years in office.

He stressed that a study has revealed that the adoption of captive power stations would yield greater results than reliance on gas to generate power, saying that there were companies willing to provide power at affordable rate using the captive power strategy.

Atiku listed the retooling of the nation’s armed forces for better performance among other strategies that have been penciled down as means of improving the effective security network of the nation.

On how to revive the economy, he said that he would create the right environment that would attract foreign and local investors who ran away from the country due to harsh economic and investment climate.

Speaking, the Methodist Bishop of Ikeja Diocese and CAN Director of Mobilization and National Issues, Bishop Stephen Adegbite said that Atiku convincingly addressed all the fears, issues and concerns raised by members of CAN, is an indication of his physical fitness. “You have made history today by being the first presidential candidate to honour our invitation and we do not take it for granted�, he was quoted

as saying.

The event, according to the statement, attracted Christians from various denominations had panelists which included, Head, Anglican Communion in Nigeria, Primate Nicholas Okoh; Head, Legal of CAN, Barr. Samuel Kwankur.

Others are Bishop Anthony Anyiador, National Treasurer for CAN; Director of Youths, Engr.

Abiodun Sanyaolu; Chaplain, National Christian Centre, Bishop Peter Ogunmuyiwa; Acting General Secretary of CAN, Mr. Joseph Daramola; National Coordinator for 2019 elections for CAN, Dr William Okoye and Chief Kenny Martins, among others.

voices in the country ahead of the 2019 general election.

It said, “This arrest is part of the grand plot to escalate the clampdown on opposition leaders in an attempt to cow and subjugate them as the elections draw nearer, a scheme the PDP had since alerted Nigerians about. “The PDP invites Nigerians to note that the EFCC was unleashed on Okupe with fabricated charges, just because of his criticisms of the misrule of the Buhari administration, particularly his last Wednesday’s demand to the Independent National Electoral Commission (INEC) to declare President Buhari as not validly nominated as a presidential candidate for the 2019 elections.�

The opposition party added that since his comment, Okupe had been threatened, harassed and his home raided by officials of the EFCC last Saturday over claims of cyber stalking, which they could not substantiate, and only for the commission to arrest and detained him last Monday.

It said, “If the EFCC has not been compromised by the Buhari Presidency, why has it not invited or even questioned officials of the presidency indicted for corruption or the factional National Chairman of the APC, Adams Oshiomhole, over alleged extortion of billions of naira from his party members, for which he even had to flee the country?�

The party said instead of using their so-called technology and intelligence to “harass and extort money from innocent, harmless and law-abiding citizens,� EFCC officials should join the security agencies and deploy their technology in the fight against terrorism in the North-east.

In a related development, PDP’s presidential campaign train will berth in Gombe State

on Thursday for the North-east zonal political rally as the party continues in its quest to assume power in 2019.

A statement issued yesterday by the Director, Contact and Mobilisation of the campaign organisation, Col. Austin Akobundu (rtd), informed all governors, candidates of the party, National Assembly members, the National Economic Committee (NEC) members, Board of Trustees (BoT), state chapters and all stakeholders that they are invited to the zonal rally.

BUHARI, 67 OTHERS COMMIT TO PEACEFUL ELECTIONEERING Asked if there was still room for those not present to sign the peace accord, he said, “Yes, it is open for them to come and sign the peace accord.�

Atiku Holds Interactive Session with CAN, Gets Commendation Meanwhile, Atiku, on Monday night, held an interactive session with the Christian Association of Nigeria (CAN) on his plans if voted into power.

A statement by his Media Office said Atiku was at the Ecumenical Centre, Abuja on

the invitation of CAN, for a two-hour interactive session with members of the Christian body that wanted to know how he would govern Nigeria if he wins the 2019 presidential election.

According to the statement, issues discussed during the session included how an Atiku government would improve power supply, and increase the number of women and youth in governance; whether he was under any influence by foreign concerns to do their bidding; how the challenge of high maternal mortality rate would be addressed; how to grow the economy; put a check on insecurity and how he would stop nepotism in governance.

The former vice president was quoted as saying that Nigeria slipped into recession because of capital flight and attendant closure of companies in the country, following government’s pronouncements which sent the wrong signals to investors.

He added that the clampdown on domiciliary accounts forced investors to massively withdraw, close accounts and move their funds elsewhere, adding that the impact of the capital flight was the closure of companies and loss of jobs.

To tackle the epileptic power supply in the country, Atiku said, he would adopt the “captive power strategy� where specific power stations would provide

SECONDUS: MORE NIGERIANS KILLED UNDER APC’S WATCH THAN CIVIL WAR 1970, yet we are not at war.�

The main opposition party chairman lamented the state of insecurity in the country, saying President Muhammadu Buhari had failed the nation in that regard.

Noting that one of the cardinal programmes of the Buhari administration was security, Secondus said with a low score, the APC should yield ground to the PDP, contending that the way out of the country’s insecurity situation is for the people to vote for his party in 2019.

He stated that his party’s 16 years of experience in government was the best teacher that provided it with the needed capacity to rescue the country from the misrule of the All Progressives Congress (APC), adding that the party also learnt from its mistakes for which it had apologised to Nigerians. “When you made mistakes, you must be bold enough to come out and apologise like what happens in the advanced countries. We were not perfect 16 years ago. We know there were areas we defaulted. But we have apologised to the people so that we can start all over again. “Of course, we have rebranded PDP and by the special grace of God, we have repositioned the party. That was why you witnessed the entire National Assembly collapsed into PDP. We also had three governors. We have learnt from our 16 years of experience. Experience is the best teacher. We are surely gradually moving to rescue the nation from hunger and insecurity. More people have been killed in Nigeria in the last three years than the civil war that took place from 1967 to 1970 and yet we are not at war,� Secondus explained.

Speaking on the refusal of Buhari to sign the Electoral Act Amendment Bill, Secondus

said the bill was not about PDP or APC but about Nigeria, stressing that the country should continuously improve on the standard and quality of the delivery of the best elections ever. “Take Ghana for instance; there is a lot of improvement in their electoral process and you don’t hear parties complaining because they are almost perfecting a system of free and fair elections.

You know that whenever there is not free and fair election, it is a recipe for crisis. And so, the aim of the amended bill is to improve the electoral process and stop all forms of rigging so that there could be transparency in terms of transmitting the results from the polling units to the wards and to the local governments and states,� he said.

He faulted the drafting errors cited by President Buhari as one of the reasons for refusing to assent to the bill, stressing that such errors could be corrected.

Secondus also rejected the excuse by the president that the time was too short for the Independent National Electoral Commission (INEC) to adapt to the provisions of the new bill.

According to the PDP chairman, INEC’s preparation for the 2019 elections has always been in line with the new amendment, adding that the electoral body has always been carried along in the amendment.

Secondus insisted that the National Assembly should override the president’s veto.

When asked how PDP could secure the support of the majority of the legislators to override the president, Secondus stated that his party would get the number from both the PDP and APC. “We are going to get the number from both sides,� he added.

Also when reminded that INEC had promised to use the Smart Card Readers for

the 2019 election despite the non-passage of the amended bill, Secondus said his party did not believe in the electoral body any longer because they made similar promises in the previous elections and still manipulated the elections to favour APC. “In all the re-run elections, INEC and the police were the problems and that was why we asked the chairman of INEC and the Inspector General of Police to resign.�

According to him, re-run was designed for rigging the elections.

Buhari is Protecting Corrupt Relatives, Says PDP In a related development, the PDP Presidential Campaign Council yesterday said the Presidential Villa stinks of corruption, challenging the president to showcase his muchtouted integrity by allowing an open investigation of his associates and close relatives who were mentioned in alleged serial looting of public resources.

The main opposition party also demanded the immediate and unconditional release of its chieftain, Dr. Doyin Okupe, by the Economic and Financial Crimes Commission (EFCC).

This is coming as the party’s presidential campaign train will berth in Gombe State tomorrow for its North-east zonal political rally as it continues in its quest to assume power in 2019.

But responding to the alleged bias against the opposition in its anti-graft war, the acting Chairman of the EFCC, Mr. Ibrahim Magu, has advised Nigerians not to listen to some sections of the public, which habour the feeling that the anti-corruption fight is a witch-hunt carried out by the Buhari administration to fight

its perceived enemies.

But the PDP alleged that in a bid to further conceal the sleazes of the Buhari-led government, the presidency had gagged one Amina Mohammed paraded by the Department of State Services (DSS), who it said, revealed in her open confession recently that persons close to the president were involved in serial frauds and looting of public resources under official cover.

Spokesman for campaign council, Mr. Kola Ologbondiyan, yesterday stated in a statement in Abuja that “having reviewed all these issues, including the lame denials by those mentioned by the suspect, as well as the failure of the security agency to allow the suspect to complete her open confession, the PDP challenges President Buhari to order an open hearing into the matter if indeed the presidency has nothing to hide.’’ The party also challenged Buhari to immediately make public the report of the investigation of the former aide of the First Lady, Mr. Baba-Inna, who was arrested in September this year over accusations of receiving N2.5 billion as donations from politicians, businessmen and other women on behalf of his wife, Aisha.

Demands Immediate Release of Okupe The party has also demanded the immediate and unconditional release of its chieftain, Dr. Doyin Okupe, by the EFCC. In a separate statement issued in Abuja yesterday by the party’s spokesman, PDP described Okupe’s arrest and detention as an act of intimidation and harassment by the federal government in its bid to browbeat the opposition and dissenting

Anti-Graft War Not Witch-hunt, Says Magu Apparently responding to concerns raised in some quarters on the anti-graft war, Magu has advised Nigerians not to listen to some sections of the public which habour the feeling that the anti-corruption fight is a witch-hunt carried out by the administration of the President Buhari to fight those described as perceived enemies of the government.

Magu, who disclosed this in Lagos at the 2nd Induction Ceremony of the Compliance Institute Nigeria with the theme, ‘Implementation of Beneficial Ownership Disclosure in Nigeria’, noted that there is no hiding place for looters. “We should not listen to those who say the anti-corruption fight is a witch-hunt. You cannot be invited to the EFCC if you don’t have an offence committed somewhere. Anybody you see in the EFCC has committed an offence. We have not even come out with details, when we come out with details, you will be shocked. All Nigerians should join the anti-corruption fight. We want to save the future of this country,� he said.

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WEDNESDAY DECEMBER 12, 2018 ˾ T H I S D AY

NEWS

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

Again, Senate Steps Down Confirmation of EFCC, ICPC Boards’ Nominees Deji Elumoye in Abuja The The Senate yesterday stood down the confirmation of 13 appointees nominated by President Muhammadu Buhari as Chairman and members of the Governing Boards of the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Economic and Financial Crimes Commission (EFCC).

This is sequel to an observation raised by Senator Victor Umeh (Anambra Central) that the nominees for the board appointments were tilted towards some particular sections of the country while the South-east and South-south

zones were left out.

The Senate had to dissolve into an executive session to deliberate on the observation raised by Umeh to the report of the eight-man Committee on Anti-Corruption and Financial Crimes on the need for Senate to confirm the nominees for EFCC Board presented by the Chairman, Senator Chukwuka Utazi.

At the end of the close-door session, which lasted for about 20 minutes, the Senate President, Dr Bukola Saraki, said the Senate had decided to step down the four board nominees for EFCC and the Chairman and eight other nominees for ICPC Board.

He stated that the upper

chamber took that decision to allow the Senate to liaise with the executive to address the lopsidedness of the appointments with a view to having equitable representation across the six geo-political zones.

Utazi had earlier in the report, which generated heated argument and mild drama among members, asked that the Senate approve the appointment of Mr. Ndasule Moses (North Central); Mr. Lawan Mamman (North-east); Mr. Galadanci Najim (North-west) and Mr. Adeleke Rafiu (South-west) as members of the Board of the EFCC. He, however, said the

committee observed that the nominees were from four out of the six geo-political zones with no nominee from both the South-east and South-south zones.

Utazi noted that this was at variance with the federal character principle as provided in Section 14(3) of the Constitution of Federal Republic of Nigeria as amended.

Umeh, while asking the Senate to suspend the confirmation to allow the executive to ensure that all zones are represented on the Board, said the fight against corruption involved all parts of the country.

He wondered why the

North-east that produced the Acting Chairman of EFCC would have a board member and the South-west, which has the commission’s secretary, is also having a board member while South-east and Southsouth zones are left out of the board composition.

Senators Mathew Urogbede (Edo South) and Enyinnaya Abaribe (Abia South) also canvassed that the report be stood down to ensure even distribution of the appointments among all geo-political zones.

The nine ICPC Board nominees whose confirmation was also deferred because the North-east zone was not

represented include Prof.

Bolaji Owasanoye, Chairman (South-west); Ms. Grace Chinda (South-south); Mr. Okolo Titus (South-east); Mr. Obiora Igwedebia (South-east) and Mr. Olubukola Balogun (South-west).

Others are Mr. Adamu Bello (North-west); Ms. Hannatu Muhammed (North-west); Mr. Abdullahi Saidu (North-central) and Mr. Yahaya Dauda (Northcentral).

Also yesterday, the Senate resolved to investigate alleged closure of Ondo State House of Assembly by the police.

Senate Minority Leader,

Continued on page. 51

NLC, ITUC to Place Debtor Govs on ‘Watch List’ Onyebuchi Ezigbo and Mercy Apollos in Abuja The Nigeria Labour Congress (NLC) has said it will liaise with the International Trade Union Congress (ITUC) to place on a “watch list” names of governors in the states where workers are being owed salaries and pensions for several months.

The ITUC is the world’s largest trade union federation; formed in 2006, out of the merger of the International Confederation of Free Trade Unions and the World Confederation of Labour.

President of the NLC, Mr. Ayuba Wabba, made this known yesterday while addressing the Nigeria Union of Pensioners (NUP) at its 17th anniversary in Abuja.

He said aside “naming and shaming” these governors, the labour would soon direct Nigeria workers to monitor various airports in the country to stop such governors who may have completed their term from fleeing the country.

According to him, “We will instruct workers at the nation’s airports to disallow and disgrace any governor trying to leave the country in order to enjoy themselves overseas.

“We have issued statements to these governors owing salaries, informing them that they cannot go anywhere to enjoy the monies they have carted away.

“They will be disgraced and chased away. Instead of using the money to make life good and build the country for the good of everybody, a few elites will embezzle what is meant for all for their personal use.”

The NLC president assured pensioners that the NLC would not relent it its efforts to ensure that the issue of minimum pension alongside the minimum wage, was addressed.

He said if the government must address the issue of pensioners, it must address the welfare of pensioners, saying it would ensure that workers desist from looting.

You Misrepresented Facts in Your Book, US Diplomat Tells Jonathan A Public Affairs Officer at the US Consulate in Lagos, Russell Brooks, has accused former President Goodluck Jonathan of not comprehending why the United States harped on the need for a credible and peaceful election in 2015.

The envoy said this while reacting to Jonathan’s claim that the former US President, Barak Obama, interfered with the country’s 2015 election.

Speaking during a live Facebook chat yesterday, according to The Cable, Brooks accused Jonathan of “mischaracterisation”.

Asked by Aghogho Oboh, a broadcaster and the chat anchor, to respond to Jonathan’s claim, Brooks said: “It was mischaracterised in the book about what President Obama or his

administration did in Nigeria.

The mischaracterisation here refers to not comprehending why we felt it was important for Nigeria to have a peaceful, free and fair election in 2015.

“And thereby people may not understand why we placed so much importance of having a peaceful, free and fair and transparent election in 2019.”

He said considering the history of election violence in Nigeria, the US felt it was important to have a credible and fair election in 2015.

According to him, “in the past, Nigeria’s elections had been beset by violence, there have been questions about the fairness of those elections. And we certainly believe that Nigeria can do better. In 2015, Nigeria did do better.”

81 HEARTY CHEERS...

L-R: Governor of Taraba State, Darius Dickson Ishaku; Bishop of the Diocese of Lagos, Rev. (Dr.) Humphrey B.Olumakaiye; the Celebrant, General Theophilus Danjuma (rtd); his wife, Senator Daisy Danjuma; and Archbishop of Enugu Province, Most Rev. (Dr.) Emmanuel Chukwuma, at the thanksgiving service marking the 81st birthday celebration of Danjuma at Cathedral Church of Christ, Marina, Lagos recently ETOP UKUTT

Buhari: Why I Refused to Sign Electoral Bill President’s refusal to sign bill threat to nation’s existence, says Wike Ernest Chinwo in Port Harcourt President Muhammadu Buhari has written the Senate, explaining why he refused to assent to the Electoral Act (Amendment) Bill, 2018 recently passed by the National Assembly.

Buhari’s clarification is coming as the Rivers State Governor, Nyesom Wike, has declared that his refusal to sign the amended Electoral Act is a threat to the country’s existence as it will generate deadly political tension in 2019.

President of the Senate, Dr. Bukola Saraki, read the president’s letter at yesterday’s plenary.

Buhari’s letter to the senators reads: “Pursuant to Section 58 (4) of the Constitution of the Federal Republic of Nigeria 1999 (as amended), I hereby convey to the Senate, my decision on December 6, 2018 to decline Presidential Assent to the Electoral (Amendment) Bill, 2018 recently passed by the National Assembly.

“I am declining assent to the Bill principally because I am concerned that passing a new electoral bill this far into the electoral process

for the 2019 general elections, which commenced under the 2015 Electoral Act, could create some uncertainty about the applicable legislation to govern the process.

“Any real or apparent change to the rules this close to the election may provide an opportunity for disruption and confusion in respect of which law governs the electoral process.

“This leads me to believe that it is in the best interest of the country and our democracy for the National Assembly to specifically state in the Bill that the Electoral Act will come into effect and be applicable to elections commencing after the 2019 general elections.”

Continuing, Buhari explains, “It is also important for the following drafting amendments to be made to the Bill: ”A. Section 5 of the Bill, amending section 18 of the Principal Act should indicate the subsection to which the substitution of the figure ’30” for the figure “60” is to be effected.”

“B. Section 11 of the Bill, amending Section 36 should indicate the subsection in which

the provision is to be introduced.

“C. Section 24 of the Bill which amends Section 85(1) should be redrafted in full as the introduction of the “electing” to the sentence may be interpreted to mean that the political parties may give 21 days’ notice of the .. intention to merge, as opposed to the 90 days provided in Section 84(2) of the Electoral Act which provides the provision for merger of political parties.”

“D. The definition of the term “Ward Collection Officer” should be revised to reflect a more descriptive definition than the capitalized and undefined term “Registration Area Collation Officer.”

The President concluded his letter with greeting to the lawmakers: “Please accept, Distinguished Senate President, the assurances of my highest consideration.”

After Saraki finished reading the President’s letter, Senate Leader moved that all items on the Order Paper be stood down to another legislative day.

Minority Leader seconded the motion and the plenary adjourned to Wednesday, December 12, 2018.

Meanwhile, Wike, has declared

that the refusal of President Buhari to sign bill is a threat to the nation’s existence as it will generate deadly political tension in 2019.

The governor also declared that the essence of not signing the Electoral Act by Buhari was for him to rig the 2019 elections.

Wike spoke at the Government House, Port Harcourt yesterday during the visit of the Anglican Bishop of Niger Delta North, Rt. Rev. Wisdom Ihunwo.

“This present administration does not want the existence of one Nigeria. We don’t know if there will be Nigeria after the 2019 General elections.

“The National Assembly tried to cure the defects of the Electoral Act that led to controversies during the 2015 elections. After the passage, the President kept on giving countless excuses why he wouldn’t sign the amended Electoral Act. “The whole essence of not signing the Electoral Act is to rig the 2019 General elections. And in the plot to rig the 2019 elections, Rivers State comes first and Akwa Ibom State is the second on their list,” Wike explained.

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T H I S D AY Ëž Ëœ ÍŻÍ°Ëœ Í°ÍŽÍŻÍś

COMMENT

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

CAN BUHARI ORGANISE A FREE ELECTION?

Sonnie Ekwowusi urges the electorate to ensure that their votes count during the forthcoming elections

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he above question, in my view, is the most important question to be tackled at the moment. Why? Because if the 2019 election had been rigged or will be rigged then we are just wasting our time preparing for elections that had been ‘won’ and ‘lost’.

Therefore all the political parties jostling for the 2019 election should be asking themselves this question on the threshold of the elections. Ditto for the electorate. Beyond mounting their campaign posters and photographs along the major streets, the political candidates should similarly be asking themselves the same question. Former President Goodluck Jonathan gave INEC a free had to organise the 2015 election. He even accepted defeat and congratulated Muhammadu Buhari even before the official announcement of the result of the presidential election by INEC. Now, will President Buhari, in the same vein, give INEC a free hand to organise a free and fair elections in 2019? I have my doubts. For example, the scientific rigging that occurred in Edo and Ekiti States governorship elections and recently in Osun governorship election is indicative of the monumental rigging that will occur in the 2019 election especially in the Presidential election.

Undoubtedly President Buhari and his followers know very well that all the things that could possibly go wrong in a country have all gone wrong under this government in the last three and half years. For example, in 2015 Nigeria had a fairly robust economy with a GDP of N600 billion (largest in Africa) and an annual growth rate of 6.4%, a single digit inflation rate and an unemployment rate of 13%. But alarmingly, since Buhari came to power unemployment rate in Nigeria has now risen up to 33.1%. More than 10 million Nigerians have lost their jobs within the same period. Nigeria is now the poverty capital of the world. Recently we were told that Nigeria has now overtaken India as the country with the largest number of people living with extreme poverty. The Buhari government came to power on the cheap mantra of fighting corruption.

Now the Buhari government has become the nerve-centre of corruption in Nigeria. Imagine US 2.5 billion missing at the Nigerian National Petroleum Corporation (NNPC). US 3.2 billion illegally withdrawn by the government from the Nigerian Liquefied Natural Gas (NLNG) company’s dividend account. Over US 1 billion missing from the accounts of the National Intelligence Agency (NIA). N117 billion missing at the Nigerian Ports Authority (NPA). N5.8 billion unaccounted for by the Nigerian Emergency Management Agency (NEMA). In the 2018 Global Ranking of the OXFAM and Development Finance International (DFI), Nigeria is ranked 157 out of 157 countries. Nigeria is now the third worst country in the world to live in. In fact, Nigeria is ranked 152 out of 157 countries in the World Bank’s Human Capital Index which was released last week. The latest UNICEF report ranks Nigeria as the 11th highest on newborn deaths, that is, Nigeria is the 11th country in the world with the highest number of new babies that are dying every year. Corollary to this is that Nigeria is the 11th most dangerous country in the world to be delivered of a baby.

Nigeria is now ranked second among the 137 countries with the worst electricity supply in 2017 (I hope Fashola is listening). The 2017 Global Terrorism Index (GTI) has recently been released and Nigeria, for the third year running, still occupies the third position (after Iraq and Afghanistan) as the most terrorised country in the world. Nigeria has the worst Police Force in the world. According to a recent BBC Report on July 25, 2018

THE PRESIDENT HAS FOR THE UMPTEENTH TIME WITHHELD HIS ASSENT TO THE ELECTORAL ACT AMENDMENT BILL 2018 WHICH MANY BELIEVE IS A GREAT ANTIDOTE TO ELECTION RIGGING

“Nigeria has the largest number of out-of-school children (totalling 13 million children) in the world.� JP Morgan Chase has left Nigeria. Prior to pulling out, it warned the Buhari government about the suffocating effects of its foreign exchange fixing policies. HSBC has also recently left Nigeria. The deduction from the above is that the Buhari government has woefully failed. Except the government rigs the 2019 election it will be voted out. If you carry out a random poll, say, on the 2019 Presidential Election, you will discover that eight out of 10 eligible and PVC-carrying voters in the streets of Nigeria have sworn that they will never vote for Buhari next year. Although President Buhari has said that he is committed to a free and fair election, his actions betray his words.

For example, the president has for the umpteenth time withheld his assent to the Electoral Act Amendment Bill 2018 which many believe is a great antidote to election rigging. Last week the United States Institute of Peace (USIP) released a pessimistic report on the 2019 elections in Nigeria. The report states that the 2019 election in Nigeria might not be free and fair and might be marred by electoral violence. In his paper titled: Nigeria’s 2019 elections: Change, Continuity and the Risk to Peace; Summary of key Findings, a fellow of USIP, Mr. Aly Verjee said that it is doubtful whether INEC will conduct a free and fair and violence-free elections in Nigeria in 2019. He said that there is the possibility that the APC may “use intimidating tactics to shore up the votes while similar intimidation could be applied to deter large turn-out of electorate in the opposition strongholds�. In conclusion, Verjee advised INEC and security agents in Nigeria to eschew bias, political partisanship and undue influence in the discharge of their duties.

So you can see that the main assignment at the moment is to get the Buhari government, INEC, Police and the security agents deployed to supervise the elections to organise a free and fair elections in Nigeria in 2019. It will be naĂŻve for the opposition to relax on the assumption that the elections will be free and fair. The opposition should carry out finding on INEC chair Prof Mahmood Yakubu to ascertain whether he is capable of organising a free and fair election in 2019. And if the result of the finding reveals that he is biased in favour of any political party then the opposition should demand for his immediate removal. Oftentimes elections are rigged at the state level by Resident Electoral Commissioners (RECs). The pertinent questions are: who are the current RECs involved in the 2019 election? Are they secret card-carrying members of any political party? Can the opposition vouch for their character? The answers to these questions will determine to a large extent whether the 2019 election will be free and fair or not. The leaders of the international community should write to President Buhari and urge him to organise a free and fair elections in 2019. They should also let him know the terrible consequences of a rigged electoral process. International and local election observers and monitors should start their respective observations and monitoring now. They should understand that election rigging does not only occur at the polling booths on the Election Day. On their part, the people must shed off their cowardice now. They should stand up and be counted. Instead of grumbling on WhatsApp platforms that President Buhari has ruined Nigeria, the people should troop out en-masse on Election Day and cast their votes. Equally they should ensure that their votes count.

THEYOUTH, APATHY AND SPURIOUS ARGUMENTS There is no excuse for non-participation in politics, argues Jerome-Mario Utomi

The good news is; we have the overwhelming support of youth votes‌.The bad news is; the youth never bothers to vote--Anonymous s the 2019 presidential, gubernatorial, national/state Houses of Assembly elections come into view, the out-ofthe-ordinary behaviour demonstrated by various gladiators has exposed two major concerns with the first and most radical being the political players’ failure to give Nigerians a systematised/issue-based campaign with outlined manifesto placed in a well-defined order.

Again, the ‘strategic’ political interplays, conflicts and considerable uncertainties of the past weeks have not only exposed the underlying ‘civil but cold’ relationship between politicians and Nigerians particularly the youths, but underscored the usefulness of the attachment theory as propounded

by John Bowlby, a British psychologist in 1958.

Essentially, Bowlby, in that theory pointed out that ‘if a primary caregiver responds inappropriately and/or inconsistently, the infant learns to assume that he or she is powerless to affect the larger world and that his or her signals have no intrinsic significance were the universe is concerned.� A child, he added, who receives really erratic and inconsistent responses from a primary caregiver, even if those responses are occasionally warm and sensitive, develops anxious resistance/indifferent attachment.

The above, like in the generality of mankind, describes the current disposition of the youths towards the leaders they ones considered as caregivers. Experience from the previous broken political promises and erroneous indoctrination that they lack the means to act independently on their own initiative has left the youths active on social

A

media without interest in, or enthusiastic about any aspect of political activities.

Adding context to this discourse, it is important to state that political participation is a broader category of political behaviour and consists of those voluntary activities by citizens that are intended to influence the selection of leaders or the decisions they make but largely depend on the possession of such resources such as time, political knowledge and money.

While the above is acknowledged, it’s however important to state that the political challenge confronting the Nigerian youth is not limited to inadequate finance or time but goes to include a deep-seated range of spurious arguments that revolve chiefly round political ignorance/ illiteracya factor that consistently dampens political appetite to monitor political activities in order to grow in factual and conceptual political knowledge.

Though, I sympathise with the awkward position Nigerian youths are politically placed by our leaders and their lack of opportunity to enjoy the economic and social progress that flow from the democratic arrangement. That notwithstanding, political apathy among Nigerians should be of great concern for some crucial reasons.

First, aside from the fact that ‘power concedes nothing without a demand, listening with real curiosity to some of the arguments by these youths for embracing political apathy, one will be genuinely dismayed as most of the reasons are spurious.

For example, youths at various fora expressed frustrations that the nation is governed by people that do not feel the pinch of the common man; some alleged that their feelings/opinions are not regarded by the government-resulting in lack of confidence in the leadership.

Admittedly, the above captures our political space

but despite these scenarios, one point our youths fail to remember is that when majority of the citizens fails to participate during an election, unpopular and unqualified candidates may win the election. And when unqualified candidates win, it will not only hinder political, socio-economic developments but democratise poverty.

Similarly, in their attempt to defend the present political posturing, some youths argue that the vast majority of Nigerian politicians/public office holders in their effort to secure their positions have politically disarmed the youths, kept the country divided and fostered animosity among the people.

But contrary to this belief, the truth is that no leader/politician in the writer’s view disarms the youths; rather, when they find the youths unarmed with positive political interest/ideas, awareness or activities, they (politicians) are left with no other option than to equip them for illicit political responsibilities as nature abhors vacuum.

Put differently, the qualities required for success are the same that undermine success.

Until the youths realise that ‘human progress is neither automatic nor inevitable’, they will not appreciate that 2019 general election is not the appropriate time for complacency or apathy but a period for enthusiastic and positive action.

And without minding what others may say, the major factor preventing Nigerian youths from making political progress is primarily their inordinate love for instant gratification and inability to creatively form a productive collaboration that will turn them to a force that cannot be ignored.

In the same token, as someone who cannot support a position based on sentiment or allowed sentiment to becloud his judgment, the youth’s refusal to use their population advantage to change the nation’s leadership is saddening as their reasons

are illogical.

A point that they failed to remember is that allowing political indifference flourish will translate to endorsement of the agonising moment the nation currently faces and stands as an emblematic demonstration of their unbelief in the time-honored saying that “when purpose is present, nothing can block the determined soul from his rendezvous with destiny’. Indeed, political apathy in whatever form is not just antithetical to development but likened to neglecting what is actually done for what should be done. And as we know, any man who does such, moves towards self-destruction rather than self-preservation’.

Significantly, one looks at these challenges and asks how the nation can have these problems solved? The major response points at the door-step of the government as the chief source of the solution to this dreadful situation.

Glaringly, this time is auspicious for our leaders to understand that ‘silence by the youths via apathy doesn’t smooth things over. It merely pushes differences beneath the surface and can set in motion powerfully destructive forces as when people stay silent about important disagreement, they can begin to fill with anxiety, anger, and resentment as long as the conflict is unresolved’.

To also make 2019 general election bear the targeted fruit, Nigerian youths must realise that whoever would be too secure in the time of peace will often be found dejected in the time of war’.

This fact no doubt points at the urgent need for Nigerian youths to develop a pragmatic collaboration which will represent a set of values that encourage constructive views as well as provide support for candidates with the interests of moving the nation forward.

Jerome-Mario wrote from Lagos

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T H I S D AY WEDNESDAY, DECEMBER 12, 2018

EDITORIAL Of ASUU And Endless Strikes ASUU and the federal government should find a common ground to ensure that the strike is called off

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ith the latest strike by the Academic Staff Union of Universities (ASUU), quality education is increasingly being endangered in our country since the hurried academic calendars which usually follow these all-toofrequent industrial actions allow for very little attention to serious studies. As usual, the lecturers have listed their grievances to include lackluster implementation of previous ASUU/federal government agreements both on their allowances and on the funding of public universities.

It is heartening that both ASUU and the government are making some progress.

Given the incessant disruption on the campuses, it is little surprise that public universities in Nigeria have continued to go down the ladder of academic ranking, even among their peers in Africa. But we also agree with ASUU that under-funding the education sector, over the years, has had collateral damaging effects, such that our universities have now become grotesque carcasses of their former glorious THE FEDERAL selves. But dealing GOVERNMENT MUST LEARN NEVER TO SIGN with the challenge requires more than ANY AGREEMENT IT seasonal strikes by HAS NO CAPACITY the lecturers while the OR WILLINGNESS TO federal government also needs to underIMPLEMENT stand the primacy of constant dialogue and keeping to agreements, especially given the current realities.

While we call on the lecturers to temper their expectations with realism, it is also important for the authorities to do everything within their powers to end the current strike and find a lasting solution to a phenomenon that has virtually crippled tertiary education in the country. But much more importantly, the federal government must learn never to sign any agreement it has no capacity or willingness to implement. In giving conditions under which the lecturers will go back to

Letters to the Editor

work, ASUU president, Dr Abiodun Ogunyemi said the Memorandum of Action (MoA) signed in October 2017 “must be implemented fully before we can even talk of suspension of the strike.”

It is unfortunate that the federal government and ASUU had for several years now been locked in running battles over the implementation of agreements reached. The consequences have been lengthy industrial strikes by the lecturers, with the attendant debilitating effects on educational development in particular and academic pursuits in general. Yet, as we have repeatedly argued on this page on this recurring problem, whatever the issues are, it is important for the federal government and ASUU to find common grounds because what these strikes have done is to further damage the credibility of tertiary education in Nigeria.

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

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hile there is no way we can develop our country until efforts are made to revitalise key sectors like education, most of disputes are always occasioned by broken promises and unfulfilled agreements. Therefore, going forward requires other critical stakeholders in the education sector joining in the efforts to find a lasting solution to what has become a perplexing national challenge. But in doing this, the federal government must take the initiative so that we can collectively come up with ways to reposition tertiary education in our country.

Meanwhile, to the extent that commercialisation of academic grades and poorly written handouts, delayed dissertation, award of questionable degrees and all manner of unwholesome practices have combined to ruin university education in Nigeria, ASUU must also accept that it is complicit in the problem. Unfortunately, these are issues which seem to be of little or no concern to the lecturers and that perhaps explain why the once-vibrant union that set the agenda for national discourse in its hay days is now strike-obsessed and largely irrelevant.

These, of course, are issues we must deal with. For now, the authorities must find a way to resolve the current crisis so that ASUU can call off the strike and our students can return to school.

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.

2019 AND THE GRAND CONSPIRACY

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here is a grand conspiracy. A plot hatched in the pits of despair and agony. There are three conspirators involved in this plot – the Nigerian people, top business executives and the international community.

In this thrilling “scheme”, the Nigerian people are providing the hammer and the nail; business executives are providing the brick and mortar, while the international community is providing the moral and logistics support to seal the fate of an incumbent president.

This is a grand conspiracy! But why?

The mass movement against President Buhari was expected.

Nigerians are easy to please, but they are deficient of patience for incompetence. No doubt, the “locus classicus” of the Buhari administration is arrogant incompetence. It is “generally agreed” that the government is rudderless. Even Aisha Buhari, wife of the president, attests to this. The government has failed on all counts, and has even worsened the yoke of citizens. The economy is floundering, the naira is tottering on the brink of further depreciation and external debts are piling up. Some 30 million Nigerians are unemployed and 13.5 million children are out of school. And there is no hope on the horizon.

Nigerians are dissipated; after expending so much hope and promise on the current government, they are now at their wit’s end. They want a breath of fresh air.

Also, businesses have not been impermeable to the Buhari hex. Companies are folding up; many of them are laying off

staff and many more of them cannot pay salaries. Some top business executives say “Buhari is not good for business”.

This has become a code phrase in the business circle.

An influential real estate developer in Abuja told me that the second coming of Buhari disrupted the market negatively, and that the sector has remained in suspended gloom since his administration.

As it is, the international community now longs for a Nigeria without Buhari as president.

In November, Priti Patel, a member of the UK parliament and former secretary of state for International Development, asked investors to be wary of investing in Nigeria. The lawmaker cited specifically the flagrant disobedience of court orders by the administration as the reason for her charge.

She also described the fight against corruption as a “smokescreen”.

Hear her and be shocked: However, the Nigerian government has continued to flout international law and convention, and it refuses to respect the various court decisions.

Investors must consider this long-running scandal and weigh this obstinance against Nigeria’s mishandled economic potential.

Let us not forget that Nigeria is the only member of OPEC that is dependent upon petrol imports to keep the country going. Nigeria is ranked 145th in the world for its ease of doing business, which demonstrates the risks of investment into Nigeria.

Despite the President’s public anti-corruption platform, Transparency International has not seen any reduction in corruption since Buhari took office. In fact, the precise opposite has happened, with Nigeria falling 12 places between the 2016 and 2017 rankings.

President Buhari currently faces serious allegations, which include staging show trials of opponents of a regime that is accused of corruption and graft, while simultaneously shielding his own party members and inner circle.

We should all welcome international efforts to attract international investment into developing economies. However, to do this successfully Nigeria must seriously tackle corruption, rather than use it as a smokescreen. It must honour its obligations to companies like P&ID. Until then, investors inevitably will be very wary of investing in Nigeria.

Just yesterday, the International Criminal Court (ICC) alleged that Nigerian security forces committed crimes against humanity. I fear some people may even go to jail.

The intractable herdsmen killings, which some top officials in the West believe this administration has deliberately allowed to fester, and gross human rights violations, which are all documented by Amnesty International, are some of the grouse of the international community against President Buhari.

But how does one expend all goodwill in three years?

Really, the 2019 presidential election is between the Nigerian people and Buhari.

Déjà vu!

Fredrick Nwabufo, fredricknwabufo@yahoo.com

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T H I S D AY ˾WEDNESDAY DECEMBER 12, 2018

MIDWEEKPOLITICS

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

A N A LY S I S

A Renewed Call to Service

Vanessa Obioha writes that Senator OluremiTinubu on her own steam has recorded landmark achievements, which recommend her beyond being the wife of a popular politician and an emerging statesman

W

hen Senator Oluremi Tinubu emerged unopposed at the APC Senatorial primary to represent Lagos Central for the third time, there were susurrations in some quarters that her husband, the APC National Leader, Bola Tinubu was behind her emergence.

It was believed that the larger-than-life status of Tinubu made other interested participants shelve their political ambition.

It was not the first time such news were making the rounds. Ever since her first election into the Senate in 2011, four years after her husband left his gubernatorial post, diatribes have trailed the senator’s political sojourn.

Partly because her first victory was riddled with controversy as a result of the omission of the logos of the Labour Party and Congress for Progressive Change, a foul play perceived by the parties candidate to discredit them from winning the Lagos Central Senatorial seats.

Albeit, Tinubu was declared the winner and has returned to the Upper House twice, and may return a third time if she retains her seat.

If that permutation works, the Senator will be the first from Lagos state to achieve that status.

To the layman, Tinubu’s streak of success is an abuse of power. ‘Why?’ They ask in their beer parlours, news stands, :should she return for the third time? Are there no better politicians in the party to represent Lagos central?’ Of course there are, but who can challenge the gods?

Senator Tinubu is not ignorant of the antagonistic remarks. If anything, she has developed a tough skin, though often times her quiet demeanour is misconstrued as weakness.

Being among the few women in the National Assembly comes with its own challenges.

Her special status as wife of Jagaban has not spared her from the uncouth behaviour of most members of the senate. A notable incidence was that of the Senator representing Kogi West, Dino Melaye. A rambunctious fellow, Dino

Oluremi

was reported to have insulted and threatened Tinubu when she objected to one of his motions during a closed door session. For weeks, the ugly scenario hugged the headlines as women across the country rallied for support and called for the removal of Melaye.

Though the two have sheath their swords since the 2016 brawl, no love is lost between the senators.

Tinubu would later received another backlash when she introduced the bill for Special Economic Assistance to Lagos as a mega city and economic hub of West Africa.

She was barked down by her male colleagues who misinterpreted her proposal as a Special Status for the economic hub of the country.

She described the experience as horrifying and almost wasn’t going to raise the motion again.

Recalling that incident at a recent press briefing, she explained what really happened.

“When I introduced the Special Economic

Assistance, my colleagues twisted it and took it out of context. Special Economic Assistance came from the fact that we felt Lagos state gives a lot to the federal government through taxes and VAT. So Special Economic Assistance is requesting that even if it is one percent of the money that is taken into the federation account from Lagos state to be given back to Lagos state. We are talking about Apapa gridlock, a lot of infrastructural damage that we are experiencing in the state. These monies are supposed to be used to augment most of the projects in the state, be it the health sector, education, or roads and that is what we are asking for. And that money, the percentage will be decided by the National Assembly, and then the state assembly will now enforce the appropriation for state use. It is not money that is just coming in for the governors to use at will. But my colleagues took it out of context, maybe because of the mood of the senate. I have

never seen such hatred for a bill before in my life. It brought about a very heated argument in the senate. And when I started talking to them individually,they were even telling me to bring it back but I said no,that someone else can take it up because since 2011, I have been advocating for it. I don’t think there is nothing in life that I have done and shown such animosity. Lagos still needs it. I’m going to push for it.”

Her eight years so far in the senate has not gone down without some achievement. She was responsible for the Motion on the Apapa Port Gridlock, Stop Violence Against Children among others. Through her quarterly town hall meetings — a feedback mechanism to ensure accountability and transparency — she has been able to interact more effectively with her constituents, empowering them through initiatives such as the Widows Economic Empowerment Scheme (WEES), Petty Traders Empowerment Capital Scheme (PETECS), Good Boys and Girls Empowerment Scheme (GBGES) to mention a few.

As she kicks off her campaign, Tinubu is pledging to do more, to represent her district through new initiatives such as the Work Experience Programme (WEP). Paramount on her mind is to continue to push for gender equity and equal opportunities. Already, she’s been training young girls and women for leadership roles through the Leadership Academy for Girls and Daughters of Zelophehad Ministry.

Recently ordained a pastor of the Redeemed Christian Church of God, the Senator is leaning on her Christian moral values to carry out her duty, even if many find it hard to believe that a politician can be a faithful Christian. Her mantra ia to change one life at a time.

Should the senator fail in her third bid, she will dedicate herself to her humanitarian services and probably will be availed enough time to take care of the Jagaban.

Women Groups Rise for Nsima Ekere Nseobong Okon-Ekong

I

n some way, the recent gathering of women in Ikot Abasi brings back memories of landmark incident generally known as Aba Women’s Riot, which has since been properly situated in history to have started and gained momentum in Ikot Abasi.

As the 2019 general elections draw closer, different interest groups are getting set for a showdown of sorts. In Akwa Ibom, a kaladeiscope of women organisations who favour the governorship ambition of Obong Nsima Ekere, otherwise known as ONE have deployed all kinds of gimmicks to show they are battle ready.

Led by the delectable wife of `The One`, Efe ,the women stormed Ekere’s homestead to wage spiritual warfare with the understanding that since the spiritual is believed to control the physical, they needed to position their principal’s ambition properly in the celestial. The `prayer warriors` in evanescent spirit enthralled the sedate sleepy community of Ikot Abasi, the home of the standard bearer of the All Progressives Congress, APC in the 2019 governorship election in the state, Obong Nsima Ekere. Memories were made, excitement reinforced and confidence strengthened.

Some daintily clad, others adorned in uniforms that evoked their prime political averments, they sprawled before the governorship hopeful’s magnificent edifice, arms clasped, eyes misty and

Mrs. Efe Ekere, wife of Akwa Ibom APC governorship candidate, Obong Nsima Ekere surrounded by delegates of various women groups at one of the events watching God, teeth cracking, and in total submission and humility laid down their burden to the creator of the universe in supplication for divine benevolence in the `war` to come. They sang songs of mirth and unity as one of his opponents in the party primaries surrendered, complete with all the arsenals and appurtenances of battle. It was the wife of Bishop Sam Akpan, in royalty and splendor that led the party of capitulation. And with

an aura showing gratitude and love, Efe in subdued gallantry and jubilation, together with a large ensemble of female party `big guns` welcomed them to their fold and enjoined them to keep their eyes firmly on `The One` for the much anticipated vanquishing of their common foe, Governor Udom Emmanuel, the candidate of the ruling Peoples Democratic Party, PDP. It was victory and defeat in tow, magnanimity

and sport. It resonated, piercing the eerie woods of village setting. It pulsated with pomp. It engendered a fresh dawn. The burgeoning governorship journey of N Ekere had just bagged a tumultuous hilt in unity of purpose. Joy swept through the hearts of men and women in his train.

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

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POLITICS

My Supporters are Arrested for Pasting Posters, Sowore Cries Out

Olawepo-Hashim Accuses APC, PDP of Playing Games with National Stability

Segun James

Nseobong Okon-Ekong

Presidential candidate of the African Action Congress (AAC), Mr. Omoyele Sowole has cried out that the police have arrested his supporters for pasting posters in parts of Lagos state. He specifically accused the All Progressives Congress (APC) of masterminding the arrest, even as he said that that would not deter him or the AAC from wresting power from the ruling party.

Sowore, in a statement signed

by Rachel Onamusi-Kpiasi the Director of Media and Communications, African AAC disclosed that five members of the party were arrested during the early hours of Sunday, December 9 for pasting posters in Lagos State and are still being held in custody.

According to the statement, the five arrested did not violate any law by placing the posters and “creating awareness for the only alternative to the rot that has decimated our nation. Pasting posters is not and has never been a crime in Nigeria, and this recent act of injustice suffered by the

Take It Back Movement, the AAC and its presidential candidate, Omoyele Sowore, is further proof that the APC is not interested in a free, fair election or in doing what is best for Nigerians.

“Every step of the AAC party’s campaign has been dogged with impediments and outright blocks from the ruling party. From cancelled TV interviews to the withdrawal of rally permits in the northern part of Nigeria, the Buhari-led government has launched a vendetta campaign against the one party resolved in bettering the lives of Nigerians.”

The statement said that there are no guesses as to why the APC has taken offence against the AAC. “While unwilling to pay hardworking Nigerians N30,000 a month for work done as minimum wage, the AAC promises a living wage of N100,000 per month. While the incumbent government looks the other way while Nigerians are killed in their droves by terrorists, the AAC promises prosecution and tougher security measures to guarantee the safety and protection of Nigerians.

Mr. Gbenga Olawepo-Hashim, Presidential candidate of the Peoples Trust (PT) has accused the two leading parties, the All Progressive Party (APC) and the Peoples Democratic Party (PDP) of playing politics with the nation’s stability from their management of issues around the electoral act.

At a recent interaction with journalists, OlawepoHashim stated that rather than present the outlook of statesmen, leaders of the two parties are rather obsessed with personal gains. The presidential candidate of the PT, said that the president’s refusal to give accent to the electoral act, passed by the National Assembly was an indication that the main actors in Nigerian polity are falling below standards.

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 thought he was. 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.”

He further said: “It is regrettable that with the spiraling poverty in the land, insurgency by Boko Haram, violence in the North East and North West, incipient Shiite rebellion due to high handedness, massive insecurity and bloodletting in various states, Nigeria may be damaged beyond redemption in four years, should we all succumb to the plot for the APC to hand themselves a fresh term through a faulty process.”

He 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, but are rather distracting the polity with it.

He said: “In the task of nation building, political leaders sometimes have to rise above the fray and take decisions in the national interest, even when it does 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 the 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.

He said however that the PT is a product of the struggle for democracy adding that the populace knows what to do in the event of anyone trying to hold on to power, irrespective of the people’s desire. “We are a party for the people and we shall stand by them all the time,” he said.

Olawepo-Hashim added, “The path of honour is for the president to commit himself to a transparent poll and ensure and ignore the counsel of palace courtiers and political war mongers intent on moving the country in the path of further destruction, God forbid. “Next year is Nigeria’s hour of glory, and we will not allow anyone to prevent the glory of God from shinning on the nation.

We have come a long way as a nation and Nigeria is no longer an entity that can be toyed with, especially with the level of sacrifices our people have made.”

Nigeria’s Economy in Dire Straits, Ositelu Warns Segun James The Presidential candidate of Accord Party, Isaac Babatunde Ositelu, has warned that the economy of Nigeria is in a dire straits, saying that it requires an astute manager to give it a positive turn around at this critical period.

Ositelu however made it clear that the person that can make this turnaround is certainly not President Muhammadu Buhari, and as such, he has asked Nigerians to reject him at the polls to save the country.

The Accord Party Presidential hopeful said that he would solve the humongous economic challenges by focusing on agriculture and industrial development. According to him it does not require rocket science to determine what the nation needs to move forward.

He said that by adopting the backward integration economic policy, he could reverse the trending rural-urban migration currently plaguing the nation.

He stressed that the economic activities to be generated in each geo-political zones of the country would help to stem the population drift from the rural areas to the urban centres.

He however, said that for Nigeria to come out of the present state of despair in its socio-political and economic travesty, the electorates must reject the candidacy of Muhammadu Buhari of the All Progressive Congress (APC) and Atiku Abubakar of the Peoples Democratic Party (PDP).

According to Ositelu, who says he has the solution to the nation’s economic problems, the comprehensive policy document of his government will ensure the provision of reliable and clean energy in the various critical masses across the country, saying that industrial parks and markets as well as manufacturing hubs across the country would be given focused priority in the

provision of electricity, portable water and critical infrastructure that will help to grow and develop the nation’s economy.

Ositelu said that his government would carry out the mapping of the nation’s current and future manufacturing hubs, industrial parks and markets so that information sharing critical for support services could be easily accessible for operators in the various sectors of the economy. He assured that building and sustaining the rural roads would be given a pride of place in the policy drive to connect the nooks and crannies of the economic roadmap of his government.

On agriculture, which he said can be the mainstay of the nation’s economy, Ositelu promised to turn Nigeria to the food basket for the West Africa sub-region during his tenure as the President of the largest populated country in Africa. He assured that not only will the nation be selfsufficient in food production for local consumption, Nigeria would also embark on export of food crops to countries in the sub-region.

He said that Nigeria is blessed with very resourceful and enterprising population, excellent weather and expansive land area good enough for large scale food productions.

According to him, the tertiary institutions; particularly the universities of agriculture and the relevant stakeholders in the agricultural value chain, as well as, financial institutions would be networked to form a coalition of support system in the sector.

Ositelu stressed that with the resources available in the country, hunger ought to be a rare feature of the nation’s socio-economic make up. According to him, the visionary plan of the Accord Party is to have hunger banished from the land by the guarantee of, at least, two meals for every citizen of Nigeria.

SOLEMN GATHERING FOR WOMEN

Speaker, House of Representatives, Rt. Hon. Yakubu Dogara (right), Imo State, Governor, Owelle Rochas Okorocha (left), his wife Nneoma Nkechi Okorocha (2nd left), Anglican Bishop of Owerri, Rt. Rev. Prof. Chukwuma Opara (3rd right) and Mrs. Chukwuma Ekomaru, at a Church Service for Anglican Annual Women Guild Conference in Owerri, Imo State

ADP is Not Part of Our Coalition, Says CUPP Udora Orizu In reaction to the threat by the Action Democratic Party (ADP) to take legal action against the Coalition of United Political Parties (CUPP), which claimed that ADP was among the 40 political parties that endorsed the presidential candidate of the Peoples Democratic Party (PDP) former Vice President Atiku Abubakar, the coalition has said that the ADP threat

was just an attention seeking ploy because the party is not part of the CUPP. The threat which was issued earlier by the party’s National Chairman and Presidential Candidate Mr. Yusuf Sani at the party’s national secretariat in Abuja, had alerted the public to the fact stated that ADP was never party to any coalition designed to take the country back to Egypt and warned that it would seek redress in

court for the wrong notion that it was part of the CUPP .

According to Sani, “ADP cannot be a member of a coalition designed to railroad Nigerians back to the locust years or any attempt to continue with the status quo which Nigerians have emphatically rejected.

Categorically clear that at no time was the ADP part of the CUPP much less endorse a consensus presidential candidate. If the CUPP does

not retract the claim, the ADP would take legal action.”

Reacting to the ADP threat, the National Spokesperson of the CUPP, Ikenga Ugochinyere explained that ADP was just seeking attention.

“ADP was never part of CUPP. They are not part of our coalition and can’t get our attention if that is what their chairman is seeking . They are battling for identity in the political field,” Ugochinyere said.

Ezekwesili Expresses Concern over Bad Governance The Presidential candidate of the Allied Congress Party of Nigeria (ACPN), Dr. Obiageli Ezekwesili, has expressed concern over the bad governance experienced in Nigeria in the past 19 years. She complained that Nigeria’s democratic journey has yet to produce

the change Nigerians expect.

She said, ‘There is however a limit to celebrating the mere existence of democracy in our country. This is because, every objective assessment of our democratic journey since 1999 has mostly always returned the sobering verdict that we

are still very much in the nascent, fragile, tenuous and fledgling zone of democracy as our choice of political system of governance.

“So far, good governance has on the aggregate eluded Nigeria. The last 19 years have not given Nigerians an aggregate top quality of

political actors. Nigerians are demanding for a new leadership direction for the country to end the entrapment in governance failures of the last decades.

Nigerians believe that our democracy and governance can be vastly improved through genuine elections.”

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FEATURES

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

Raising a Generation of Innovators, Inventors The adoption of STEAM has been identified as being strategic to raising innovators and inventors, who will ultimately ameliorate the rate of importation into the country, thus ending capital flight, Ogechukwu Obi reports

T

he reality of life today is that technology has come to stay with man and will continue to change the world and the way we perceive things. While people and nations are on constant race to catch up, the rate of technological advancement has remained astronomically high.

However, countries that appreciate the responsibility and the power of technology in boosting economic activities have embraced it and are using it to create multiples of job, improving lives and processes.

Statistics has it that more than five million new jobs are estimated to have been created by the internet alone in the past 15 years.

Therefore, for countries to remain relevant in the 21st century, build viable economy, tackle poverty, create jobs and free herself from being a dumping ground for technologically savvy nations, it must have a strong educational system that encourages students to study Science, Technology, Engineering, Arts and Crafts and Mathematics (STEAM) subjects.

New Approach STEAM is a new and unique approach in STEM education, which accommodates Arts and Crafts in the study of STEM, giving room for children to be trained on how to make things, thereby stimulating in them the zeal and desire to be entrepreneurs, innovators and inventors.

PriceWaterHouseCoopers, recently observed that in the nearest future, there would be a high workplace demand for skills majorly provided by STEM education which includes: critical thinking, problem solving, analytic capabilities, logical reasoning and imagination.

These skills which have been identified as critical ‘survival skills’ in the future workplace are all embedded in STEAM. Interestingly, most of the advanced countries ranking high in inventions and innovations are leading in STEM and STEAM education.

Therefore, the country needs a workforce that is technologically savvy and able to innovate - which is achievable if STEAM education is promoted.

Some students utilising STEAM method

Meeting Local Needs Speaking during a media chat with some journalists in Lagos, the Chief Executive Officer (CEO), STEAM Empowerment Foundation (SEF), Mrs. Olabisi Ozo-Onyali, said STEM education was not sufficient for discovering and stimulating relevant talents and skills for Africa's economic survival.

According to the SEF CEO, Nigeria needs a workforce that is technologically savvy and able to innovate modern day skills, which are all imbedded in STEAM education. Stressing that STEAM education involves an educational approach that focuses on one or more disciplines of Science, Technology, Engineering, Arts and Crafts, and Mathematics; the educator said it would be most useful in providing necessary skills that can advance an underdeveloped nation to being a developed nation, by improving her global competitiveness.

Accordingly, Ozo-Onyali said: "STEM is well known for its global demand, however Nigeria as a nation is also known for her interest in arts and crafts because it promotes cultural heritage. Therefore, STEAM Empowerment Foundation as an organisation isn’t just interested in meeting global demand, but also local needs. STEM is a global trend, even in the United States and Asia, as developed as they are these countries, they still invest a lot in STEM education.

"We are introducing it to Nigerians in a way and manner our children can relate with, calling it STEAM by embedding the arts and crafts. More importantly, we are introducing the dimension of entrepreneurship; where our children are trained on how to make these things and be able to convert it into making money at the end of the day. So for someone leaving school, you can think of a thousand and one thing you can do beyond having to

The Chief Executive OďŹƒcer, STEAM Empowerment Foundation, Mrs. Olabisi Ozo-Onyali, anked by her STEAM Team wait for employment from the government."

According to the CEO, every Nigerian child has the potential to become an inventor and an innovator, and should be no longer be denied the opportunity by lack of access to education and exposure. She noted that Nigerian children and youths need to be exposed to the apparatus, tools and modern technology to become globally competitive.

According to her "an interaction with these appliances and tools is what will make them become the next Michael Faraday or the next Thomas Edison. The foreign people we often celebrate don't have two heads, an early exposure from a very tender age got them to that height."

Enabling Environment Ozo-Onyali noted that an enabling environment remains key to enabling Nigerian children to realise their potentials. Making a case for improved curriculum, conducive learning environment, good infrastructure, teachers' motivation, among others, the educator said that it would aid the country in discovering talents that are capable of turning Nigeria into another industrial hub in the world.

According to her, "The difference between the Nigerian child and one from the western world is simply the enabling environment.

They keep empowering these kids to become who they ought to be; whereas in this part of the country maybe because we are an

underdeveloped economy, our children are often not conversant with these tools from an early age. And I want to say that, that white child is not better than our black child! An average black child is much more intelligent than a white child but because of our environment, we are limited and thus our children do not have access to these things. So, we decided to come in because we do not want Nigeria to continue being an underdeveloped nation as it relates to STEM education. If they can do it in Asia, in the United States then nothing stops us from been able to do it in Nigeria."

The Birth of STEAM Giving a brief history of STEAM Empowerment Foundation, the CEO said that the company took off in 2011, selling educational materials and science kits. According to her, as a major dealer in Thames and Cosmos products, after a review of the products and its impact on the users (children), she realised the need to domesticate the idea so that Nigerian children can benefit better from the concept.

She said: "Thames and Cosmos have been in Germany for over a 100 years producing science kits and toys. When the product came, we saw the technology behind that it is not the type Nigerian children are familiar with, and won't be very useful to them. The interest of the Nigerian child spurred her team into coming up with the STEAM Empowerment Foundation in 2014.

"So, we said, since we have these kits, can we sit down and look at the concept behind them and be able to communicate it to our children.

And that was what gave birth to the STEAM club. Thames and Cosmos have products like hydro pack, solar park, electrochem - all these are modern technologies and were already in kits forms and we were convinced that if we give them to our Nigerian children, they won't relate with it.

"So, we said to ourselves instead of bringing in these products for our children to just play with them as toys and nothing at the end of the day is impacted to them, let's we sit down and understand the concept and impact these children. That is how the whole concept came about."

Challenges Noting that the foundation has achieved some remarkable feats, the CEO noted that funding has been a major challenge to STEAM education in Nigeria. According to her going by the number of people that can afford STEAM education, it would need sponsorship or donors partnership with SEF to enable more students to participate.

She said, "STEAM education is expensive and we have decided to see how we can get donor grants to invest into this so that every child irrespective of his parents pedigree are able to access it. And that was why we came about the SEF. We are equally trying to reach

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Boost for Social Protection Programmes in Osun Yinka Kolawole in Osogbo writes that the recent declaration of Osun State as the leading state in the provision of Social Protection Programmes by the United Nations International Children Emergency Fund, is a boost for the project, which is aimed at eliminating poverty

T

he United Nations International Children Emergency Fund (UNICEF) recently declared Osun State the leading state in the provision of Social Protection programmes, just as they commended former Governor Rauf Aregbesola, for his commitment to social, educational and economic development of the state.

With the Osun Social Protection Law 2018, which was signed into law on November 20, 2018, it made the state perhaps the only state that has a Social Protection Policy and a law for Social Protection among the 36 states. This was one of the last policy documents executed

by Aregbesola before he handed over.

Nigeria’s representative of UNICEF, Mr Mohammed Fall said the various social security programmes of the Aregbesola’s administration have attracted the attention of the world because of its impact at eliminating poverty.

Fall who spoke at the launching of ‘Osun Social Protection Policy and Law’ by the then governor disclosed that "Osun has become a leading state in the provision of social protection programmes in the entire country, hence the interest of UNICEF in supporting the state in the funding of the programmes".

The Osun Social Protection Policy and Law makes it compulsory for every government in the state to implement social protection programmes for the people.

Represented by Mr. Andrew Buffon at the event, Fall explained that Osun is always presented as an example to the world whenever the issue of social protection in Africa is being discussed, advising that all efforts must be made to lift poor families out of poverty line for the good all.

He urged government at all levels in Nigeria to take issue of social security serious as a means of reducing crime and other social vices in the society.

Fall said: “I think many governments all around the world needs to take a cue from what Osun is doing as a state in terms trying to bridge the gap between the rich and the poor in the society. “It is time for governments to begin to take social protection programmes serious, we must try as much as possible to begin to lift poor families out of poverty line and give them a sense of belonging. “The way Osun is doing is the way to go; Osun is a good example to the world in terms of implementation of social protection programmes. Osun has become a leading state in guarantying social protection which is why UNICEF is always ready to support the state.�

Policy Document In his address, former Governor Rauf Aregbesola stated that it has always been his vision to provide happiness for the generality of the people, stressing that it is even more gratifying that he is leaving the law as a legacy.

The policy document was unveiled by the former governor of the state Chief Bisi Akande in company of Aregbesola; the incumbent governor, Mr Gboyega Oyetola, General Alani Akinrinade and UNICEF representatives in the country, among others.

Aregbesola who pointed out that the social

L:R: Osun Governor, Mr. Gboyega Isiaka Oyetola; Chief of UNICEF Akure Field OďŹƒce, Mr.Tejinder Sanchu; former Governor Rauf Aregbesola; Chief Bisi Akande; Deputy Speaker of Osun House of Assembly, Hon. Akintunde Adegboye; UNICEF Chief of Social Policy, Mr. Hamidou Poufon, and Osun Deputy Governor, Mr. Benedict Gboyega Alabi, at the launching of the Social Protection Policy and Law in Osogbo protection programmes of the administration were mapped out to take care of different forms of vulnerability, explained that his administration gave out more than N4billion as non-interest loans to women traders to improve their standard of living.

He said his administration has been focused and resolute to wipe out poverty from Osun through the government's six-point integral action plan, which has been the major guide to achieving the set objectives.

According to Aregbesola, “our style of leadership is not just by accident, it has been my joy since childhood to bring happiness to the generality of the people at the same time. “Since the beginning of this administration, we have been focused and resolute to terminate poverty in Osun through our six point integral action plan and we rolled out different social intervention programs to take care of different forms of vulnerability in society. “It is worthy of note that many of our social intervention programmes where targeted at women and children to take care of their needs.

What we have done with this law is to codify social protection policies into law, it means that whoever emerges as governor in Osun at any point in time has no choice than to implement social protection programmes for the people. “It is a great thing of joy to me that I am leaving this law as a legacy to the state, with this law vulnerability among women and children in the state will be lessened and an improved life is guaranteed for them in future."

Implementation Speaking, the Director General, Office of Economic Development and Partnership, Dr Charles Akinola, said the implementation of social protection programmes became necessary for the Aregbesola’s administration because of the need to improve the lives of the down trodden in the state.

Akinola who described the Osun social

protection programmes as a fight against poverty in the state, said the administration of Aregbesola has always been determined to banish hunger and poverty in the state.

Veritable Tool for Sustainable Development In his goodwill message, Hamidou Poufon the Chief Social Policy, UNICEF Nigeria during the launch of the law said it has made Osun perhaps the only state that has a Social Protection Policy and a law for Social Protection among the 36 states.

He said Osun has a long-standing record of social development having outperformed all other states as per the Multidimensional Poverty Ranking report of the Oxford Poverty and Human Development Initiative 2018 that ranked Osun at first place nationwide. He said also in social protection, the state of Osun has maintained a good lead in the implementation of social protection programs in the last 10 years.

Poufon added that social protection is increasingly viewed as an important policy component of sustainable development and has become a veritable tool for advancing the development agenda. He said it provides support for particular social groups, reduces gender inequality and break inter-generational transmission of poverty, if administered appropriately.

Within Nigeria and abroad, he posited that several of Osun’s social protection programs have attracted attention, more especially the Osun Elementary School Feeding and Health Program (O-MEALS), which is the longest continuously running school feeding program in Nigeria; and the Osun Youth Empowerment Scheme (OYES), which the World Bank subsequently recommended for replication in other states and at the federal level.

Additionally he said the State of Osun is one of the first states to start implementation of the federal-level Conditional Cash Transfer (CCT) scheme and was selected as a pilot state for

the World Bank-funded Youth Empowerment and Social Support Operation (YESSO).

He said: "Given the State of Osun’s record and performance in social safety net investments, social welfare, and social protection, it has become a leading state, continually proving its commitment to enhance residents’ resilience and livelihoods.

"UNICEF has collaborated with the state since 2015 in the documentation of the wide array of programs (at least 21 interventions) implemented despite the economic situation nationwide. This document is being disseminated today as the Overview of Social Protection Programs in the state of Osun "Other output of the collaboration includes the intra country study tour which brought representatives of 15 states and the Federal Government to Osogbo in 2017 for a study tour of the programs that promote social protection, social welfare, economic development, and social services."

He further noted that since the state launched the social protection legislation, there is need to pause and reflect on the journey so far; to take stock of what needs to happen in the future and very importantly to address the following major challenges observed during the study of the programs: like challenges with barriers to program entry, program coordination and lack of coherence due to the absence of a cross sectoral MIS and governance platform.

He called for establishment of short term and ad hoc interventions operated by parallel institutions, while advocating the need to urgently identify additional pathways for lifting the poorest families out of poverty.

He said increase resilience is recommended in Identifying ways to better link social protection, social development, and social services programs in the State of Osun, which will help to maximise outcomes for the current programs and provide a cost-effective platform to scale up social protection systems

RAISING A GENERATION OF INNOVATORS, INVENTORS out to cooperate organisations and individuals that can invest into the whole process."

Speaking further, the CEO said that the award-winning STEAM club was founded in 2014 and incorporated in 2017 with the aim of building and impacting children in the African market space, with concepts of STEAM using informal methods to ignite a passion for STEAM from a tender age.

The experience she said is also capable of stimulating creativity in children of all ages and can enable them achieve good results in life.

"SEF is currently operational through The STEAM Club, an after-school club in about 50 schools in Lagos and Abuja, respectively, where we are training over a 1000 children

who are taught from a robust curriculum developed by our specially trained team.

"The whole of essence of STEAM club is that some day, our children will become manufacturers. You know that in practical terms, every household in Asia are producing one thing or the other. And that is really what we want to achieve, because arts and craft is an aspect of what we we do. We can come into the science aspect, there are several other things we can do. We have something like powered lamp, reading lamp, things like vibrobrush, blender, egg mixer and many more."

Testimonials Speaking also, the Programme Officer,

Olusegun Olojede said the response from schools as well as the children has been encouraging. "The children are always eager to join and attend our classes because one of the things that excites them is that they get to take home whatever they made during the class. Like some of these crafts here, every child that attended had the chance of taking one home.

"The interesting thing is that these children are even the ones marketing STEAM club to their parents and even to school owners. We have been getting calls from school owners who became interested in having TEAM club established in their schools after seeing what these children have been able to learn and do through the club. One of the schools we work

with came first in an inventor's competition they attended using our concept a taught them.

Head of Operations Unit, Mrs. Itunu Garuba, said "The testimonials and feedback we get from schools are exciting and that is one of the reasons why we said, we can't keep quiet with this wonderful concept that is transforming the lives of Nigerian children.

We want more parents and children to be aware of our activities and get involved.

"We want to create awareness for what we do, we want the world to know that children in Nigeria can compete with their contemporaries globally. Part of the things we do is that we organise summer camps and Easter camps, we do weekend training, workshops and seminars for children."

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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×

Iya Oge of Lagos, Chief (Mrs) Opral Benson; Founder Esther Ajayi Foundation, Rev. Mother. Esther Ajayi,;Vice President of Liberia, Senator Jewel Howard-Taylor and Reverend (Dr) Ademuyiwa Ajayi,during a grand reception organized by the foundation for the Vice President in Lagos.....recently PHOTO: KOLA OLASUPO

Lagos State All Progressives Congress (APC), Governorship Candidate, Mr. Babajide Olusola Sanwo-Olu, aknowledging cheers from his supporters during his visit and meeting with the Leaders of Lagos East Senatorial District, at Ajelogo area of Kosofe, Lagos.....recently PHOTO: KOLA OLASUPO

L-R: Executive Director/Chief Executive OďŹƒcer, Nigerian Export Promotion Council (NEPC), Mr. Segun Awolowo; Wife of the Vice President, Mrs. Dolapo Osinbajo and Chief Executive OďŹƒcer, EbonyLive TV, Mo Abudu, at the movie premiere of Ă‹Ĺ“Chief Daddy’’ held in Lagos.......recently

L-R: Chief Executive OďŹƒcer, Give Rae, Mr. Adetunji Adegboyega; Head, Legal, Lagos State Lotteries Board, Mrs. Adebanke Ogunode; Chief Executive OďŹƒcer, Metro News, Chief Femi Davies and Chief Executive OďŹƒcer, Mediatek Global Services Limited, Mr. Dotun Solanke, during the launch of Give Rae, in Lagos...recently

L-R: Media Relations OďŹƒcer, DuďŹ l Prima Foods Plc, Aramide Folorunsho; PUNCH Nigeria Limited Chairman, Mrs Angela Emuwa; Indomie Relish Product Manager, Ginny Tewatia and DuďŹ l Prima Foods Plc Group Public Relations and Event Manager, Mr Ashiwaju Temitope, during the 2018 ADVAN Awards for Marketing Excellence where DuďŹ l Prima Foods Plc won eight awards, in Lagos.....recently

Founder, Nigeria and Entrepreneurship:Summit & Honors(NESH), Emeka Ugwu-Oju[right] presenting the Honors plaque to Deputy Governor, Corporate Services, CBN., Edward Adamu at the 2018 NESH Champion Honors award in Abuja...recently

L-R: United State Ambassador to Nigeria, Amb Stuart Symington; National Coordinator for Peace and Security Network, Major General Felix Agugo; Country Director, Mercy Corps Nigeria, Adeolu Adewumi; Darius Radclie, Coordinator Operation Rainbow, Major General Stephen Guar, during the Peace Security Network Toward 2019 General Elections in Abuja...recently PHOTO: KINGSLEY ADEBOYE

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BUSINESSWORLD R A T E S MONEY MARKET OVERNIGHT OBB

A S

A T

REPO 17.36 % 16.57%

CALL 1-MONTH 3-MONTH

20% 18.50 % 18.75%

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

350.57% 0.25% 0.82%

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

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

0.99% 6.46%

EXCHANGE RATE N306.80/1US DOLLAR* *AS AT LAST FRIDAY

Quick Takes Heritage Bank Promotes Culture

GLADTO MEETYOU

L-R:PresidentMuhammaduBuhariwithactingDirectorGeneral,InfrastructureConcessionRegulatoryCommission,Engr.ChidiIzuwah,attheEnyimba Economic City agreement signing ceremony at the AsoVilla, Abuja‌ recently

Analysts Project Positive Close for Equities in December Goddy Egene Despite the continuing bearish trend that has led to a decline of 19.9 per cent so far, analysts at FSDH Research have projected a positive close for the market in the month of December.

The stock market has remained bearish due to both internal and external headwinds, leading to a negative close for the month of November with a decline of 4.9 per cent. But analysts at FSDH Research said December would be a bullish month considering the performance trend in the last six years. They also said most of the stocks are in oversold positions and this may attract

INVESTMENT the interest of domestic investors. “FSDH Research expects to see increased activities in the equity market in December 2018 as well as an appreciation. We note that most share prices are in oversold positions and these stocks may attract the interest of domestic investors. The Fund Managers’ strategies to position in the market towards year-end may also drive the market up in December. However, we note that some investors will continue to tread carefully in the equity market, particularly because of election considerations. We reiterate that the market has strong

growth potential for investors with a medium-to-long-term view,� they said.

They explained that performance of the equity market in the last six years shows that the market recorded upward movements between November and December. In 2012, for instance, the performance between November and December was 5.98 per cent growth. In 2013, it was 6.19 per cent growth, while it was 0.33 per cent, 4.59 per cent, 6.4 per cent and 0.79 per cent in 2014, 2015, 2016 and 2017 respectively. “Looking at the oversold position, the equity market may appreciate in December 2018,�

FSDH Research said.

Giving investment strategies, the analysts said investors can gradually enter the equity market through cost-averaging investment strategy. “Investors should position in stocks that have good fundamentals. We see opportunities in the banking, consumer goods, food and beverages, building materials, and oil and gas sectors of the equity market. Investors can buy stocks that pay dividends,� they said.

The market depreciated by 4.9 per cent in November due to the continued pullback from foreign investors as a result of political considerations and rising global Continued on page 24

Investors Urged to Prepare forVolatility in 2019 Global investors will need to weather more volatility in order to capture opportunities in 2019, according to a report from UBS, one of the world’s leading wealth managers.

Global economic growth was expected to decelerate next year to 3.6 per cent, from 3.8 per cent in 2018.

Conversely, the financial institution predicted that companies’ earnings would grow at a slower rate.

However, it pointed out that a 2019 recession still looked unlikely as prices of many financial assets had already moved to reflect uncertain prospects.

It explained: “UBS Global Wealth Management’s Chief Investment Office (CIO) enters the year with an overweight position in global equities. “However, as the market cycle matures, investors should diversify and hedge their portfolios to guard against volatility as well

INVESTMENT as political and other risks. “They should also take advantage of growth in fields like sustainable and impact investing, and pockets of value where financial asset prices are excessively low,� the report stated.

The Chief Investment Officer (CIO) at UBS Global Wealth Management, Mark Haefele, urged investors to retain their positions in global equities, but plan for market volatility. “A slight slowdown in economic and earnings growth doesn’t mean no growth, and the recent sell-off has left a number of assets more attractively valued, but investors must also take into account the tense geopolitical environment as well as monetary policy tightening,� he added.

In its investment process, the CIO sought to test its ideas

against professional investors’ views. Surveys of professional investors and wealthy US-based individuals revealed divergent outlooks for the year ahead.

According to the survey, close to half of professional investors saw the US lagging global markets next year, while two-thirds of individual investors surveyed expected US stocks to match or beat global equities.

Also, nearly half of the professionals surveyed anticipated the US dollar declining versus the euro, compared with less than one-sixth of individual investors.

The most popular asset class for professional investors entering the new year was emerging market equities.

For individual investors the top pick was US stocks. Professional investors were nevertheless more optimistic than individual investors on how much upside remains in the US equity bull market.

“Few professionals regard US political risk as a bigger threat than US-China trade tensions and higher interest rates. Individual investors are more concerned about US political risks than professionals are. “When asked when the next recession will start, the most common answer among professional investors is 2021. “Half of the individual investors surveyed expect the next recession to start within two years,� the report added.

The survey recommended that investors should retain an overweight position in global equities as we enter 2019.

Nevertheless, they were advised to hedge against volatility by holding overweight positions in medium-duration US government bonds and the Japanese yen, as well as focusing on quality companies and avoiding Continued on page 24

Heritage Bank Plcing services provider; has partnered with Folio Group, owners of Daily Times, the organizers of the Miss Nigeria beauty pageant to host the 42nd edition of the contest.

Speaking at the grand ďŹ nale of the contest in Lagos, Mr. Fela Ibidapo, Head of Corporate Communications of Heritage Bank said the bank stands with anything that has to do with culture, adding that the bank is at the fore front of ensuring that it promotes and pushes the Nigerian heritage. Ibidapo who commended the organisers and the contestants added that the bank would continue to support the contestants and the winner in their various dreams post the event.

Miss Chidinma Leilani Aaron emerged as the 42nd Miss Nigeria from the South East Zone at the keenly contested beauty pageant at the high brow Eko Hotel in Lagos, beating other 17 contestants that were unveiled at the grand ďŹ nale.

Miss Aaron is a graduate of Business Administration from Lead City University, Ibadan, Oyo State and is the best graduating student in human resources among her set of enterprise students. She is an entrepreneur, business administrator and a chef and is currently undergoing her National Youth Service at Blencc Solutions Limited, Abuja. She is also an associate member of IPO-CRM as well as a certiďŹ edCOMPTIAProjectManagementandaCustomerRelationship Management. The new Miss Nigeria has worked with top brands in television, fashion, hospitality and food industry as a presenter, model, actress and management sta. She has also served as the pioneer female president of the National Association of Business and Management Students of Lead City University chapter.

Vantage Provides a â‚Ź19m for Firm

VantageCapital,oneofAfrica’slargestmezzaninefundmanager,has announced that it provided â‚Ź19 million of funding to PĂŠtro Ivoire, a leadingdistributorofoil&gasproductsinCĂ´ted’Ivoire.Thecompany operatesanetworkof72petrolstationsacrossthecountry,withover 1.7 million gas bottles in circulation. It also holds a 40 per cent stake in CĂ´te d’Ivoire’s largest gas storage and bottle ďŹ lling facility, SAEPP. The company sold 230 million litres of petroleum products in 2017.

Vantage’s funding has enabled the founding family to regain a controlling equity stake in the company by facilitating the buyback of equity from two exiting private equity investors, Amethis and the West Africa Emerging Markets Growth Fund. Founded in 1994 by Mathieu Kadio-Morokro, the company is now run by his son, SÊbastien Kadio-Morokro, who was recently selected as one of the top ten Young Global Leaders in sub-Saharan Africa by the World Economic Forum.The exit of the private equity investors has made room for a French-based gas trading company, Geogas Entreprise SAS, to take a stake in the business alongside the founding family.

This transaction represented Vantage Capital’s 27th mezzanine transaction across three generations of mezzanine funds, with its portfolioofmezzanineinvestmentsnowspreadacrossninecountries in Africa. Outside of South Africa, Vantage has now invested in ten transactions for a total of $138 million across Côte d’Ivoire, Ghana, Nigeria, Uganda, Kenya, Mauritius, Namibia and Botswana.

Renmoney Wins Award

Renmoneyhasannouncedthatitrecentlywonthe‘ConsumerFinance Lender of the Year’ award at the 2018 BusinessDay Banking and Financial Institutions (BAFI) awards. The awards ceremony was held in Lagos.The BAFI awards recognises top players in Nigeria’s banking and ďŹ nancial sector for their outstanding performance and Renmoney’s award was in recognition of its eorts in driving the ďŹ ntech lending value chain in the ďŹ nancial sector.

The Chief Executive OďŹƒcer, Tobi Boshoro, who wasrepresented

by Head of Commercial, Yetunde Faulkner, described the award as an indication that the initiatives being implemented by Renmoney, particularly regarding improved convenience and service delivery, were adding value to customers.

Shesaid:“Wearepleasedtoberecognizedforoureortsinleveraging technology to make credit more accessible to our customers.This awardwillencourageustocontinuetobuildmoreconvenientsolutions for Nigerians.â€?

“I see storm clouds building, and fear the work on crisis prevention is incomplete. Central banks would likely end up exploring ever more unconventional measures. But with their effectiveness uncertain, we ought to be concerned about the potency of monetary policy�

IMF Deputy Managing Director,

David Lipton

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ANALYSTS PROJECT POSITIVE CLOSE FOR EQUITIES IN DECEMBER yields. The increased yields on fixed income securities in Nigeria also led to reallocation of portfolios away from the equity market.

FSDH Research observed an increase in the volume and value of stocks traded in November, mostly as a result of significant trades on Zenith Bank. The volume of stocks increased by 7.46 per cent to 5.44 billion shares in November. Similarly, the value of stocks traded on the NSE in November increased by 23.28 per cent to N74.86 billion, from N60.73 billion in October.

Zenith Bank Plc (1.11 billion shares), Diamond Bank Plc (669.19 million shares), FCMB Group Plc (481.90 million shares), Access Bank Plc (374.71 million shares), and FBN Holdings Plc (368.68 million INVESTORS URGED TO PREPARE FOR VOLATILITY IN 2019 excessive credit risk. “They should also look to neglected areas of the market, including value stocks in the US and emerging markets, energy equities globally, and shares of financial companies in the US and China. “Sustainable and impact investing continues to provide longer-term growth opportunities, as do emerging market and Japanese stocks, and US dollar-denominated emerging market sovereign bonds. “The US Federal Reserve should approach the end of its tightening cycle in 2019, while the support from US fiscal stimulus should wane. “In this context, the US’s twin fiscal and current account deficits will likely weigh on the US dollar. “Within Latin America, investors should keep an eye on Brazil, where the incoming administration has proposed a range of reforms that could improve the country’s fiscal sustainability. “The European Central Bank should start to normalise interest rates in 2019, which would support the euro against the greenback. A clear recovery by the euro is needed before the Swiss National Bank will hike rates, although the Swiss franc has limited scope to depreciate

Group Business Editor

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AgriBusiness/Industry Editor

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Comms/e-Business Editor

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

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

SEC Boss Calls for Utilisation of Green Bonds to Fund Infrastructure Stories by Goddy Egene The Securities and Exchange Commission (SEC) has called for the active utilisation of green bonds to finance the Nigeria’s infrastructure gap.

Acting Director-General, SEC, Ms Mary Uduk, who stated this at the 2018 annual workshop organised by the Capital Market Correspondents Association of Nigeria (CAMCAN) in Lagos, disclosed that the country’s infrastructure deficit would hit $878 billion dollars by 2040.

According to her, the country should tap into green bond opportunities, saying SEC would continue to promote an active enabling and regulative environment for the issuance of green bonds.

Uduk, who spoke through Head, Registration and Market Infrastructure Department, SEC, Mr Emomotimi Agama, said: “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 socio-merits.�

She 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 and eliminating environmental degradation. “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 while also protecting the environment. – a multi-faceted strategy,� she said.

Also speaking, the Managing Director, FMDQ OTC Securities Exchange, Mr Bola Onadele.

Koko, said $155 billion dollars had been realised from the green bonds issuance, thereby gaining attention of investors.

Onadele, who was represented by Senior Vice

President, Economic Development Division,FMDQ OTC, Mr. Emmanuel Etaderhi, said that the country’s resources was not growing in tandem with the rising population. He said that the reason for Nigeria’s woeful performance in the power and energy sector was down to its inability tap into energy utilisation from the sun like other European countries.

According to him, the challenges affecting green bonds include low level of local

participation in green bond verifiers, lack of investible projects, cost of verification and lack of understanding on the part of key investors. “Green bond investors enjoy waivers relating to tax and in the next 15 years, we will require $7 trillion in investments connecting sustainable finance to capital markets,� he said.

He noted that the FMDQ had set a sustainable finance committee to engage private and public and will engage in

training with partnership with FSD Africa and Climate Bond Initiative (CBI).

In his comments, a climate finance expert and advisor, Dr Jubril Adeojo, said that green bonds were made for Africa and with the deficits seen in major sectors of the economy.

Adeojo stated that green bonds opportunities were enormous, explaining that the Nigeria would focus more on renewable energy, hybrids to reduce the consumption of fossil fuels.

MEDIA PARLEY

L-R: Executive Director,Technical Operations, Cornerstone Insurance,Toks Bello; Managing Director, Ganiyu Musa and Executive Director, Institutional Business, Chidiebere Nwokeocha, at a media parley organised by the company in Lagos‌recently

Agusto & Co Assigns ‘A’Rating to Linkage Assurance Nigeria’s credit rating agency, Agusto & Co. Limited has assigned an ‘A-‘ rating to Linkage Assurance Plc. The rating assigned to Linkage Assurance Plc, according to the rating agency, is reflective of an insurer with good financial condition and strong capacity to meet its obligations as and when they fall due.

The rating is underpinned by good capitalisation, good investment return and good liquidity profile. Linkage’s investment in Stanbic IBTC Pensions Limited (the largest pension fund administrator) which accounted for 50 per cent of its investment portfolio has supported the insurer’s performance and liquidity position. The rating is, how-

ever, constrained by elevated underwriting expenses, sub-par risk management, concentration in the investment portfolio & investment income, sub-par underwriting performance and the fragile state of the economy.

As at 31 December 2017, Linkage’s shareholders’ funds stood at N20 billion, significantly above the regulatory minimum for non-life insurers. Retained earnings also swung to positive territory on account of high profit retention rate. This should pave the way for dividend payment and strengthen relationship with shareholders. The Insurer prioritises liquid assets in its investment management in a bid to maintain strong ability to meet obligations as and when they fall

due. As a result, money market securities which are highly liquid represented about 45.5 per cent of the investment portfolio as at 31 December 2017. As at the same date, liquid assets accounted for 39.5 per cent of total assets and covered outstanding claims 9.6 times. We consider the Insurer’s liquidity to be adequate for current business risks.

During the financial year ended 31 December 2017, Linkage’s performance in the core insurance business was constrained by high underwriting expenses. “As a result, underwriting profit margin plummeted to 0.1 per cent from 14 per cent in the prior year. The Insurer’s investment income which was bolstered by dividend from Stanbic IBTC

Pensions Limited (accrued over two years), augmented the impact of the high underwriting expenses on profitability,� the agency explained.

In FY 2017, Linkage recorded post-tax return on average assets (ROA) and post-tax return on average equity (ROE) of 13.3 per cent and 15.8 per cent respectively. “While we consider the Insurer’s profitability ratios to be good by industry standard, we are concerned about the vulnerability of income to dividend from an investee company. In the same vein, weak underwriting income remains a rating negative,� it added.

The Nigerian Insurance industry has contended with multiple challenges which has been aggravated by the lingering

macroeconomic slowdown. As a result, the insurance penetration ratio is below 0.5 per cent and premium per capita is one of the lowest in Africa, according to the Agusto & Co 2018 insurance Industry report.

In spite of growing confidence in insurance products, the appetite of Nigerians for insurance remains abysmal.

Nonetheless, potential for the industry remain strong.

Nigeria’s vast economy and population (the largest in Africa) if harnessed could support the insurance industry. Although the tier- based capitalisation policy has been cancelled, the capital raising exercise by some insurers will increase risk underwriting capacity and spur initiatives to deepen insurance in Nigeria.

Berger Paints, Stakeholders Consolidate Business Relationship Berger Paints Nigeria Plc has at renewed business relationship with many top class painters in Nigeria as a strategic move to strengthen its competitive edge, boost sales and generate values to numerous shareholders.

The Painters Forum, held at the company’s training room, the first in the series of interactive sessions aimed at strengthening relationship between Berger Paints and its stakeholders focused on the expected roles of a modern painter, Berger Paint’s range of products, prices and the upcoming inauguration of

its automated plant, the first of its type in sub- Saharan Africa.

According to the Managing Director and Chief Executive Officer, Berger Paints Nigeria Plc, Mr. Peter Folikwe, the painters and company are partners in progress, hence, the need for constant relationship between them.

He said painters are critical stakeholders in the patronage of the company’s quality products and announced the company’s plan to inaugurate its automated plant in the first quarter next year.

Folikwe urged the painters to always feel free to ask questions on any area of the company’s production and re-affirmed the company’s continuous adherence to quality products that can compete with any foreign products.

Earlier in his contribution, the company’s head, Sales and Marketing, Mr. Gbenga Suberu explained that the rationale for organising the forum was to bring the painters closer to the company as they as they advise customers in the areas of colour choice. Suberu stated that the

forum shall be held constantly because of changing dynamics in the paints industry and the need for both paint manufacturers and consumers to move with time.

He said: “These are our specifiers and they are also our end users. First and foremost, we want to get feedbacks from them and also educate them on how best they can apply our products and that is why the training section is also organized for them. From these feedbacks, we can continue to provide products that will suit their application. Berger Paints

in a couple of weeks from now will be 60 years. The company has been known for quality.

People talk about the price, but you know it must match the quality. The take home from this forum is that we are still standing on the quality that we are known for Berger is a brand. However, government should come in and ensure that we have better quality paints by way of regulating what is being produced and sold in the market in Nigeria in order to prevent harmful effects of production.�

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Group EmpowersYouths Judith Obaze Digify Africa in partnership with Facebook has graduated participants of its DigifyPro Nigeria Cohort 2.0 program.

The initiative was aimed at producing digital content communication strategist for underprivileged youths in the country.

Speaking at the graduation ceremony held recently in Lagos, the Program Director, DigifyPro Nigeria, Mrs. Florence Olumodimu, said the training was mind -blowing with success stories recorded from the previous cohort participants as well as the present group.

According to her, 19 participants out of 20 had gotten job placements, without prior experience in an agency.

She further said program afforded the participant the opportunity to have a focused career.

Olumodimu added: “It has been an amazing experience

because it was not a one-off session, over the past five years, I have been training people. What make this difference is because they came into the program and they are going with a job. “Out of the 20 participants only one had actually stepped into an agency before, where she did a six-month internship without payment, all others are completely without a job. “One of the criteria for selection is you must be without a job, and it does not matter your background, because all of the graduates are from different fields. “Within two months, they have entered four agencies, with each visited companies giving us their brief to work on. The most important is that they came first and second in an event for which they pitched for.�

However, with people constantly connected to their phones, which can shape how

they fuse their personality into digital content, the sponsor expressed satisfaction to have collaborated to add value in the content value chain of the country.

As the main partner of the event and having funded the program, the Public Policy Program lead, Sub-Saharan, Africa, Sherry Dzinoreva, Facebook, said the program was very important to her company as it aims to partner with local companies to create a bigger pool for digital marketing experts for the nation up till the next year.

Commenting on if the program would be expanded to those above 30 years of age, Dzinoreva said: “The company do not have plan for now,� adding that “the program will create pipelines of jobs for talented digital marketing individual that are job ready and expanding the curriculum for which they are been trained.�

FG to Reform Gemstones Sub-sector Kasim Sumaina in Abuja The federal government has attributed the easy prey of its precious stones by smugglers and money launderers both within and outside the country to its quality.

The government, through the Minister of Mines and Steel Development, Alhaji Abubakar Bawa Bwari, revealed that the central point of the country’s gem policy was to ensure due process in gemstone mining and marketing activities in line with international best practices.

Bwari, while speaking at the second edition of the African Gems and Jewelry Exhibition and Seminar, with the theme: “Mines to Market: Collaborating to Improve Industry Linkages,� in Abuja, noted that the federal government also hope to help artisans get good prices for their gemstones while boosting the GDP by ensuring due repatriation of gemstone export proceeds through the CBN. According to him, “As part of our mandate, the ministry is required to improve the sector’s capacity to create jobs and broaden the range of economic opportunities

available to Nigerians. “This is why we continue to support the initiatives of the organisers in using this event as a platform for creating a viable local market, and access to foreign markets for locally produced gems and jewellery. “I must begin by commending the hard working team of organisers whose efforts have brought this event to fruition.

Their resilience exemplifies the kind of patience required to operate in the mining sector which has such a long gestation period. “We have since began reforms in the sector with the hope of ensuring proper policing of the gemstone sector across the value chain from prospecting, to exploration, to mining, processing and marketing.�

The minister observed that, in the last three years, in the ministry, “we have managed to de-risk the sector by addressing issues of poor funding, lack of geological data, weak institutional capacity, limited supporting infrastructure, weak ease of doing business, and illegal mining and community challenges. “As a result, we have seen an increase in mining activi-

ties in the country with more companies operating standard mining sites. “Although perception issues linger, there is no doubt that the future of Nigerian mining is bright indeed.�

Continuing, he added that, the country has one of the best mining regulations in the world, noting that “the quality of our minerals across the board is of the highest grade. It is just a matter of time before the rest of the world realises that Nigeria is now the place to go for mining.�

He said: “Last year when we first collaborated to host this event, we were amazed by their commitment, and the success of that maiden edition encouraged us to support them to host this one. “Be informed that, according to our laws, the Ministry of Mines and Steel Development is not an operator but a regulator of the sector, “but we realise that we cannot achieve the objectives of this government in the Solid mineral sector without the collaboration of stakeholders like these.�

EY South Africa Partners Auditing Firm EY has announced a milestone strategic partnership with Motlanalo Chartered Accountants and Auditors Incorporated.

The aim of the partnership was to enable the parties to leverage Motlanalo’s skills and knowledge, in tandem with them gaining access to EY’s global network of resources, integrated teams and auditing expertise.

Motlanalo is a 100 per cent black women owned audit and advisory practice that currently employs 23 permanent staff and is on a strong growth trajectory. The firm’s founding partner, Koko Khumalo, is a former Senior Partner at EY. Koko has amassed more than two decades of experience in professional services,

in both client service and practice management roles. “This partnership will allow Motlanalo to gain audit experience in the private sector, with initial focus on bank audits, on the back of EY’s own growth and capability in that sector. Through this partnership we are able to ensure that practical skills of handling complex client matters are transferred – in a segment of our market that has been traditionally difficult to access by emerging audit firms,� Ajen Sita, EY Africa Chief Executive Officer said.

The firm would continue to operate from their current offices under the name Motlanalo Incorporated, and would remain independently

owned and managed. “I have been waiting for an opportunity to empower my staff by growing their skills set and exposing them to different auditing environments – something that has remained difficult for us to achieve to the fullest to date.

Through this partnership, our three offices will have access to unrivalled growth and learning opportunities,�

Khumalo added. “This is one way we are demonstrating our commitment to the South African transformation and inclusive growth agendas. By being part of Motlanalo’s growth journey, we continue to live our purpose of building a better working world,� continues Sita.

ELEVATING TO THE NEXT LEVEL Marie-Therese Phido

Is Your Job Going to live or Die? I always tell my participants this story when I talk about innovation and relevance in today’s job market and tomorrow’s survival. Let me also share this story with you.

Many years ago, very early in my career, I worked in a professional services firm. Then not everybody had a personal computer, computers were shared and a lot of work was done manually. You had to do all of your work in long form, especially the auditors, who had computations and accounting tables to develop each year for various clients.

In order to ensure that the clients got back professional, well presented output, the firm had what was called a Production Unit, where all accounts and reports were reproduced (typed) and presented professionally. This was a large room with 10-15 people, whose sole job was to churn out typed reports and catalogue them in diskettes. Production was a smooth operation, run by middle aged men with excellent typing skills. They also loved their jobs and were highly valued by the organization because without them, the clients’ output would not reach them and the firm would not have an income.

While these valued staff continued to type, the world started to evolve. Microsoft and Apple, revolutionized the computer industry, with the advent of personal computers. In view of this, one day, the organization decided that, it was no longer efficient for the whole firm to depend on 15 people to churn out reports as it had grown and needed to become more agile.

The policy was changed to address this need with the conclusion that everybody must get a laptop. This decision was a big change for everybody – rank and file and the production staff.

Consequentially, these very important people became virtually irrelevant. The organization started by trying to fit those who had other skills that could be moved elsewhere based on their skills set. As we all know, most good organizations do not want to lay people off. They try to keep them, if they can be useful elsewhere. So, those that could be saved were saved. The unit shrank to about 3 people and those three people were eventually phased out and that era died.

The true story I have just described above, is what will happen to many of us if we do not read the signs and start to ensure that we address them. As we go into 2019 the key question to ask ourselves is, will my career continue to live and breathe or will it die and become extinct?

Alan Townsend of CNN in his article, Dying careers and thriving careers: The jobs of tomorrow said, “the key to navigating this evolving jobs market is to follow the premise of Darwin’s own theory of evolution and be as versatile and adaptable as possible while career paths are naturally selected to align with the changing surroundings.

By monitoring and understanding the major trends that are affecting our global economy, our businesses and our lives, savvy industry watchers are able to shape their skill set and career in line with the key influences driving long-term According to Jonathan Wu, “simply looking around at how different our world is today, compared to just 10 years ago, illustrates the transformative power of human minds at work. Take the smartphone - in many ways the vital connector of our modern society - it didn’t exist a decade ago. The fact that these prospects of instant connectivity and unceasing engagement with every corner of the world have developed to

the extent they have over just a single decade is incredible. Automation is another increasingly prevalent trend - one that I think should consume a significantly greater portion of our policymakers’ attention than it currently does. It’s hard to definitively predict how the world is going to change moving forward. That said, in the industrialized world, I think we can safely bet on the broader trend - that the effects of innovation will become more prevalent in our daily routines, such as in the increasing transition toward computerized automation for routine tasks - be that driving, cleaning, manufacturing, or cooking opportunities.�

Everything that Jonathan said above, is also prevalent in Africa. The smartphone rules our lives now, with many of us having 2-3 phones to ensure we are constantly connected. Almost all activities for information, communication, entertainment, financial transactions are done via the internet.

We now use apps to transact most of our businesses – Uber, Taxify etc.

Going into 2019, we all must ensure that we review our current positions and ensure that we do not become extinct. Some jobs already on the line in the next few years – cashiers, tellers, factory workers, postal workers, bank tellers, librarians, traditional printers, receptionists Whole industries are not left out with the advent of artificial intelligence, massive changes with jobs becoming extinct are on the horizon. George Krasadakis, in his Paper, Artificial Intelligence (AI): the impact on employment and the workforce.

Where he talks about how AI replacing jobs. Which roles and industries will be most impacted? How can societies get prepared? He discussed, the following industries: Legal professions, will be significantly impacted: typical support services in a legal context, have to do with document handling-classification, discovery, summarization, comparison, knowledge extraction and management — tasks where AI agents can do a great job already.

Financial services, Insurance and any other sector requiring significant amount of data processing and content handling will also benefit from AI. And of course states, governance and social mechanisms.

Transportation is already in a transformation mode—fully autonomous cars will be soon a reality—and they will be safer, more efficient and more effective. Professional drivers (taxi, trucks and more) will see the demand for their skill set dropping rapidly.

Electronic commerce will also undergo significant transformation: fulfillment centers will be fully automated, with robots navigating the space to collect products and execute customer orders; to be then sent or even delivered to customers, also automatically, with autonomous drones and/or cars. The importance of salespersons and networks of physical stores will shrink; we are close to scenarios where consumer AI agents negotiate with Retailer AI agents—based on different objectives, tactics and strategies.

I STRONGLY URGE you to not be complacent as we go into 2019. Start to think about your relevance and how irrespective of whatever changes the world goes through, you will always be relevant, you cannot afford to leave your future and well-being to chance, please be deliberate about your future.

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

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Understanding, Benefiting from Mutual Funds Goddy Egene writes on the benefits of investing in the capital market through mutual funds The stock market is heading for negative close this year after a growth of 42.3 per cent last year. Expectations were high that the positive performance recorded in 2017 would be sustained in 2018. However, after a major appreciation in the first three weeks of the year, the market has remained on the downtrend. Three weeks to the end of the year, it is obvious that the Nigerian Stock Exchange (NSE) All-Share Index, which is the benchmark indicator to measure the aggregate performance of the market, may decline by over 15 per cent.

The bearish trend in the market, which has continued to depress prices of stocks, is major source of discouragement to existing and potential investors. Given the current risky investment environment, most of the investors do not want to go close to investing in the stock market for now.

However, there is a clever and less risky way to invest in the market and that way is through mutual funds, also known as Unit Trust schemes. Mutual Funds are investment vehicles set up by a licensed professional Fund Manager.

Mutual Funds pool monies from members of the public and invest in a diversified group of securities such as stocks, bonds, money market instruments and other assets, which are known as “the underlying investments.�

Investors, who buy units of a Mutual Fund are its owners and are called Unitholders. Each unit in the Fund allows an investor to own a share of the diversified portfolio of securities managed by the Fund Manager. Asides the Fund Manager, other independent parties such as Trustees, Custodians, Registrars, and Auditors are involved in the administration of the Fund to ensure adequate corporate governance and the protection of investors’ interest.

The first Mutual Fund, “Massachusetts Investors Trust�, was set up in 1924 in the United States of America and is still in operation.

Mutual Funds in Nigeria came to the limelight in the 1990s. Presently, there are over 80 Mutual Funds in Nigeria divided into several categories to cater for investors with different risk and return objectives; religious beliefs; age group and income levels. These categories include Money Market Funds, Fixed Income Funds, Equity Funds, Mixed Funds, Ethical Funds, Shariah Compliant Funds and Dollar Funds.

Features of Mutual Funds Trust Deed, Prospectus and Factsheets: Every Mutual Fund has a Prospectus that provides general information about the Fund and Parties to the Fund. It is usually shared with prospective investors during the Initial Public Offering (IPO) of the Fund. The Trust Deed stipulates the guidelines of the Fund which must be adhered to by all parties. The Fund Manager also provides factsheets on each Mutual Fund, periodically. The factsheet provides recent information on the Fund and is usually sent to Unitholders as well as hosted on the website of the Fund Manager.

Open-end or closed-end funds: This relates to whether or not a Mutual Fund issues an unlimited or limited number of units. Open-end Funds sell units upon demand at the Offer price and buy units from existing Unitholders at the Bid price on a daily basis (working days). Closed-end Funds have a fixed number of units that are generally traded like shares on an Exchange or Over-the-Counter (OTC) platform. Open-end Funds can also be listed President, Fund Managers Association of Nigeria, Dayo Obisan

Unitholders of a Mutual Fund have the ability to invest a;ordably in a wide range of securities and reap market rewards while achieving portfolio diversiďŹ cation.

Investors can access these funds through several digital/electronic channels without visiting any ofďŹ ce

on an Exchange or OTC platform.

Risk and return: The return of a Mutual Fund is usually tracked as the change in its total value as a result of the performance of the underlying investments. There are two ways a Mutual Fund earns returns: The first is from income, in form of interest, or dividends from the underlying investments. The second is from the increase in the price of the underlying investments. A Fund can also decline in value, if the prices of the underlying securities in the Fund decline. Money Market Funds and Fixed Income Funds are usually low risk and invest in fixed income instruments such as Fixed Deposits, Treasury Bills, Commercial papers and Bonds, while Equity Funds and Mixed Funds have higher risk and may invest in variable income instruments such as stocks

and alternative assets.

Periodic distribution of income: Mutual Funds distribute income periodically to its Unitholders depending on the guidelines as stated in the Prospectus and Trust Deed. These distributions are done monthly, quarterly or annually.

Fees: The Fund Manager and other parties to the Fund are entitled to periodic fees for the roles played in the administration of the Fund. The fees are expected to cover the cost of administration and professional service rendered. Benefits of Saving and Investing through Mutual Funds Mutual Funds make saving and investing simple, accessible, and affordable. The advantages of Mutual Funds over other types of investments are as follow:

Regulatory oversight & corporate governance: The Securities and Exchange Commission (SEC) provides regulatory oversight of Mutual Funds in Nigeria. Furthermore, there is clear separation of roles in the administration of Mutual Funds.

The Registrar is responsible for maintaining the register of Unit holders as well as processing distributions to all unit holders in the fund.

They are also involved in the processing of redemptions and subscriptions into the fund.

The Custodian holds the assets of the fund in favor of the Unitholders while the Trustee ensures the Fund Manager and other parties of the Fund adhere to the guidelines and terms of the Trust Deed.

Attractive returns and periodic distributions: Mutual Funds provide attractive returns to Unitholders. The returns of each Fund is dependent on the universe of asset classes the Trust Deed permits it to invest in.

Professional management: Unitholders of a Mutual Fund have the security of knowing their money is managed by a team of professionals devoted to achieving their investment objectives.

Affordability, diversification and convenience: Unitholders of a Mutual Fund have the ability to invest affordably in a wide range of securities and reap market rewards while achieving portfolio diversification. Investors can access these Funds through several digital/electronic channels without visiting any office. Investors can also initiate their investment with as low as N1,000 – N5,000 for some Funds.

This enables investors gain access to some investments they would ordinarily have no access to if they wanted to invest directly.

Variety and liquidity: Although most Mutual Funds have minimum holding periods, investors have the option of redeeming their investments without any penalty after the minimum holding period. There would be usually some days given to process the redemption request.

Investors can also select a Fund aligned to their objectives and goals from a variety of Mutual Funds in Nigeria.

Mutual Funds can fit well into your short, medium or long term investment strategy but the success of your plan depends on the type of Fund you choose. As all Funds invest in the securities markets, it is crucial to maintain realistic expectations about the performance of those markets and choose Funds best suited to your needs.

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Ogungbesan: Nigeria Remains Top destination for Foreign Investments Chief Executive, Stanbic IBTC Stockbrokers Limited, Mrs. Titi Ogungbesan, spoke to Goddy Egene on her firm’s consistent leading performance at the Nigerian Stock Exchange, plans for the future, and the role operators in attracting more investments to the market, among other issues. Excerpts: How would you appraise the regulatory environment?

The Securities and Exchange Commission (SEC) and the Nigerian Stock Exchange (NSE) have always been relentless in improving capital market operations which has improved the practice. A lot is being done in the area of compliance with Know Your Customers (KYC), Anti Money Laundering / Combating Financing of Terrorism (AMLCFT). More regulatory oversights are being upheld and there has been improved communication/information dissemination to all stakeholders. There has been more emphasis on investors’ protection as well with initiatives like e-dividend crediting and direct cash settlement.

Without doubt, the opportunities abound in Nigeria but proper due diligence should be undertaken before investment.

Investors should seek to partner credible local stakeholders that would assist them in achieving their objectives

How signiďŹ cant would you say such reports like the World Bank Ease of Doing Business Index are in terms of how investors view the country in their decision-making process?

Quite significant as it sends a strong message to investors on the potential viability of their investments in Nigeria, it helps them to reappraise their expectations, plan and take decisions accordingly.

How effective was the capital market in helping government ďŹ nance a huge budget deďŹ cit and how well can the market support government’s ďŹ nancing efforts?

The capital market serves as an avenue to access funds utilized in closing the deficit in financing the budget. There have been many initiatives by the current government in accessing funds through the capital market like Sukuk Bond issuance, FGN Savings Bond, Green Bonds and others.

On the subject of foreign investment, as the year winds down and we take stock of the economic performance, how would you say the economy has fared compared to last year - speciďŹ cally in terms of capital importation, whether as equity investment or directly into different economic sectors?

You would recall that the economy got out of recession in 2017 and there was a lot of optimism about the growth trajectory. However, this growth has been stifled by external and internal headwinds this year. For example, Nigeria was affected by the emerging market sell-offs, which highlighted the risks of investing in emerging and frontier markets and caused foreign investors to be more cautious.

The increase in the anchor rate by the Fed Reserve Bank (United States) also encouraged them to invest more in the US (considering safety). The risk aversion typically associated with pre-election years has also been a factor.

Internally, the continued challenge with the farmers/herdsmen clashes, perceived private sector challenges with regulators and stifled consumer spending have also led to more caution and reduced foreign investment.

This year’s Nigeria Economic Summit, the 24th edition was themed “Poverty to Prosperity: Making Governance and Institutions to Workâ€?. The theme clearly indicates a need for structural changes that would unlock Nigeria’s capacity to attain her potential. As one of Nigeria’s leading ďŹ nancial institutions, how are you contributing to the critical sectors and helping to position the Nigerian economy for sustainable growth and development?

Stanbic IBTC Stockbrokers Limited (SISL) as a major player in the capital market carries out its business in an ethical way. This has helped boost a lot of confidence from investors both locally and internationally and helped in ensuring Nigeria remains a top destination for foreign portfolio investments.

We are always working with stakeholders to ensure the promotion of savings culture

Ogungbesan

among Nigerians.

Other emerging economies in Africa like South Africa and Ghana are giving Nigeria a run for her money in terms of attracting investors. As a key player and stakeholder in the nation’s economy, what are you doing to raise investor conďŹ dence and what in your opinion, should we be doing now to attract investors?

As a company, we organise an annual flagship conference, the Standard Bank West Africa Investors’ conference, which is a foremost conference in Nigeria designed to connect Nigerian corporates with investors, both foreign and domestic, with the intention of attracting investment into the country. Our parent group also organises an annual Africa Conference, which Nigeria is a significant part of. Over the years, we have recorded considerable success with these and other initiatives we undertake in playing our part in the Nigerian project.

As a nation, we should continue to enact policies that will aid ease of doing business and encourage diversification of the economy.

The latest World Bank Ease of Doing Business Index ranked Nigeria 146th out of 190 countries. In the 2017 edition of the report, Nigeria moved 24 places from its 2016 spot of 169 to 145. The federal government has set a target of being in the top 100 by 2020. Is this realistic or ambitious?

We believe this is achievable considering the successes that have been recorded already within the period of implementation. Although we slid by one place based on the latest ranking, we consider this just a temporary setback considering the will of the government in making sure that we realise the target.

What advice will you have for someone who wishes to invest in Nigeria now?

Without doubt, the opportunities abound in Nigeria but proper due diligence should be undertaken before investment. Investors should seek to partner with credible local stakeholders that would assist them in achieving their objectives. With our experience which spans

several decades, we are willing and able to hold our clients’ and other prospective investors’ hands to guide them through the process.

According to the latest broker performance report from 2 January, 2018 to 31 October, 2018, SISL led the top 10 brokers’ chart. SISL accounted for equities transaction valued at N419.021 billion, representing 19.66 per cent of the total value of stock traded on the NSE in the 10 months period. To what will you attribute this impressive performance?

I would attribute this to clients’ confidence in SISL’s execution capabilities, sales, research and other efficient services in helping to achieve their investment objectives regarding trades on the Nigerian Stock Exchange and our ability to generate and match block flows. Adding value to clients is a top priority for us and this has helped us to generate and maintain very strong and lasting relationships with them and in turn, positioned us in good standing to get considerable portion of their trades.

Our affiliation with our parent company, Standard Bank group, with offices in different parts of the world is also an advantage as it creates for us a vast global network of relationships and clients for whom we execute trades.

Stanbic IBTC’s reputation for big ticket ďŹ nancing deals in Nigeria, debt and infrastructure ďŹ nancing, is quite remarkable. Stanbic IBTC was involved in Dangote Cement’s N150 billion commercial paper issuance, the federal government’s oversubscribed Eurobond and similar deals. What would you say is behind the conďŹ dence corporates and even the federal government repose in Stanbic IBTC when it comes to debt or equity transactions in Nigeria?

I would attribute this to our reputation for excellence, professionalism, expertise, quality service and integrity – all factors which are imperative for client confidence, enabling our client base both domestic and international investors, to entrust us with the big ticket transactions.

Your banking arm, Stanbic IBTC Bank, has for two years led other commercial banks in the country in terms of capital importation into the economy. This year, Stanbic IBTC Bank accounted for more than half of the total capital importation ďŹ gure.

Remarkably, of the three banks that led the pack, Stanbic IBTC is the only local or African bank. What in your opinion makes foreign investors trust you with their investments?

Across the group, we have key business units who deal with these international clients and are leaders in the various finance sub sectors. For example, our custodian business is the largest in the country, SISL is the leading brokerage firm and our Global markets desk is a top participant in the industry also. In addition, our investment banking team has facilitated large primary market transactions in the capital and money market spaces. We are therefore able to offer holistic solutions delivered with high level of efficiency and integrity to clients, which goes a long way in engendering confidence/ trust for repeat business and even referrals.

SISL is the leading stockbroking ďŹ rm in Nigeria. What goals and targets are you setting for yourself over the next two to three years?

We plan to maintain our leadership position in the industry by providing stellar service to our existing and potential clients. We are working with corporates and other stakeholders to encourage more participation in the capital market especially in the area of new listings such as IPO, Right Issues, Mergers & Acquisitions, etc. We will continue to collaborate with regulators in developing new initiatives and products. And also embrace technology to encourage financial inclusion.

The recently concluded chief executive’s innovation challenge was meant to address three business focus areas and subsidiaries, with strategic focus on digitisation, customer centricity within Stanbic IBTC Group and improved efďŹ ciencies in businesses, one of which is the stockbroking business.

Coincidentally, the eventual winner was one that proffered a solution for SISL. What are your expectations regarding improving the customer trading experience through the creation of a simpliďŹ ed trading platform for your teeming stockbroking clients?

We are constantly working to improve our customers’ experience. We have an online portal which provides direct market access to all our clients. This enables them view their portfolio positions and have online real time access to the trading portal. It affords them the opportunity to trade directly from the comfort of their homes and offices. The just concluded chief executive’s innovation challenge is a testament to the fact that our industry is evolving and technology will play a major role in achieving customer satisfaction.

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Joda: With Stronger Capital, MFBs Can Intervene in Poverty Alleviation The Managing Director/Chief Executive Officer, Accion Microfinance Bank Limited, Mr. Taiwo Adesina Joda, in this interview speaks about the likely effects an increased capital requirement will have on the microfinance banking sub-sector. He also speaks about other issues in the sub-sector. Obinna Chima presents the excerpts: What is your assessment of the microďŹ nance sub-sector presently?

The microfinance sub-sector, since it was created in 2002 has made very remarkable growth in all spheres of the Nigerian economy. We have been in the forefront of driving financial inclusion, we have been in the forefront of empowering the vulnerable sectors economically and also in alleviating poverty in the land. Nigeria is a big country, with an estimated population of 190 million and out of that, 80 million people do not have access to financial services, either in terms of loans, savings or making payments, and that is the gap that the microfinance sub-sector was created to fill. And I think we have done so well in the last 15 years.

But some persons may disagree with you in terms of the contribution of the sub-sector in addressing the challenges faced by those that are vulnerable because a lot of persons still do not have access to loans?

Well, for those who have not been able to get the services, the issues could be in two folds: When I say vulnerable sector, I talk about those I refer to as the active poor. These are people who are involved in economic activities and are into one form of business or the other. Now, microfinance is not to subsidise the poor, but to provide finances for the active poor and that means the traders and those who do petty business, to be able to grow their business. So, when we say the depth of intervention has not been sufficient, there are so many reasons that could have been adduced for that. One of those reasons is the availability of funds are liquidity to on-lend to the sector. So, microfinance banks have paucity of funds. They are the only banking institutions that are loan-led. When I say loan-led, I meant that, they hardly get people to give them deposit before they start giving loans. So, they thrive mostly on capital and there not much that can be done with individual capital to intervene in the market, which I said is about 80 million.

So, where funds are not sufficiently available to intervene in that market, you cannot do so much.

The second reason is financial education. Even the vulnerable sector that we talk about, may not even be aware that they can access funds from the microfinance banks. So, we need to also create the awareness and educate them, so that they would know that they can approach any microfinance bank to access funds. Even though the Central Bank of Nigeria (CBN) and the Development Financial Institutions (DFIs) have intervened in several ways to make funding available, what we realised is that there is still so much to be done in that area. If you talk about 80 million people, for example, this year alone, from January to date, Accion Microfinance Bank has disbursed a total of N8.4 billion in micro-loans to different sectors of the economy. That N8.4 billion, as huge as it is, has only been able to cover about 50,000 customers. So, if you look at the proportion of 50,000 out of 80 million, you will see that there is still huge ground that needs to be covered. So, yes, the microfinance banks are doing so much, but there is still a lot more that needs to be done.

You mentioned capital as one of the challenges faced by the sub-sector. With the new directive by the central bank that ďŹ rms should recapitalise, what are your expectations?

Yes, the capital base is supposed to create a strong and virile microfinance sector and that gives the capacity for every microfinance bank to be able to do more and also to be able to increase the volume of loans it gives in terms of size and in terms of a single obligor limit to the end-users. Yes, obviously, the new capital requirement is going to create a very strong and virile microfinance banking sub-sector that can confidently intervene in poverty alleviation.

But the issue of capacity and dearth of manpower has remained a challenge for

Joda

your sub-sector. What is being done to address that?

Capacity is not just a challenge to microfinance banks. Capacity is a challenge to the banking sector as well as to the Nigerian economy as a whole.

The quality of education needs to be improved upon. But then, the microfinance banks came together and created the Microfinance Learning and Development Centre in 2017, and we have started training practitioners from the beginning of this year and we would continue to do that, to increase skills and capacity. I am the acting managing director of that centre. We also have the Chartered Institute of Bankers of Nigeria (CIBN), we have the FITC and there is a professional qualification – the Microfinance Certified Practitioners – that every staff of a microfinance bank is expected to write and pass. These are initiatives that were taken to increase capacity

The microďŹ nance subsector, since it was created in 2002 has made very remarkable growth in all spheres of the Nigerian economy.

We have been in the forefront of driving ďŹ nancial inclusion, we have been in the forefront of empowering the vulnerable sectors economically and also in alleviating poverty in the land

and skill. On the part of the organisation, Accion MFB, this year alone, we have trained over 360 staff across 15 different kind of training modules, both external and internal, to enhance capacity.

So, training and re-training, is key to developing skills in that sector.

Despite the high terminal rate in the subsector, Accion MFB has remained strong.

What are those factors that have kept your bank going over the years?

For Accion MFB, our main strength has been the area of strong ethics, corporate governance and divorcing conflict of interest in the management process. And if you look at it, the shareholders of Accion are corporate entities. We have the likes of Accion International in the United States, Ecobank, Citibank, Zenith International Bank and we have the International Finance Corporation (IFC), which is a subsidiary of the World Bank.

These are institutions with very strong ethics and corporate governance. What you see is that we bring the best global practice to bear on our activities. So, most of the MFBs that are failing, one of the key things you will see is the failure of strong corporate governance.

So, the first and most important thing to ensure survival is the entrenchment of very strong corporate governance, secondly is adequate capital to run the business. When you don’t have adequate capital to run the business, any loss or adverse situation in the economy may affect your business. The third one is to be focused. We have seen a lot of MFB come up and in the process they become a mini-bank, without doing the business they were set up for. Once you lose focus, you are not going to have a very strong MFB that can stand the test of time.

So, two critical areas MFBs should look at are the area of financial sustainable – to be able to be there in the long-run; and social stability –to be able to impact the society that they serve.

What is Accion’s present market share?

Currently our market share is about 10 per cent. Accion MFB for 10 years operated largely as a state MFB. So, for 10 years, we were only allowed to operate within Lagos and that affected our spread. But in the last two years, we have expanded to 12 states.

That means we added additional 11 states to Lagos. The first 10 years may not be significant yardstick to measure market share. But in the last two years, significantly our market share has grown and we hope that in the next five years, we would have covered 36 states of the federation.

What are some of your products in the market?

Accion MFB has quite a number of products.

Our saving product is called SaveBrighta. This product allows you to save and provides you with an insurance benefit. That is, within the savings product, there is a health insurance cover that covers you and your children.

This is actually targeted at women that live in rural areas. We are working with some micro-insurance organisations to deliver on this. So, if you open an account as low as N500, you are entitled to an insurance cover.

We have several loan products. We have a special loan for people living with disability. This comes at single digit for people living with disability.

We have the PayGo. With this, if you want a loan for 30, 60 or 90 days, it is available. We have school loans. We have loans for housing renovation or to allow you to build and develop your house in stages. We call it MyHome loan.

We started MyHome loan four months ago and today we have disbursed over N100 million. We have education loan for school owners to be able to renovate their schools, equip their laboratory and different things the school would need to progress. Our biggest product is the working capital loan for business owners and it is available for MSMEs to grow their businesses.

THISDAYt WEDNESDAY DECEMBER 12, 2018

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PENCOM and Challenges of Motley Ghosts

Suleiman Tajudeen Anyone who has ever headed an organisation or association of people knows the peril of fighting corruption and those who profit from it. It is a hazardous venture undertaken only by persons with strong character, conviction and determination. Such individuals often come out of the struggle bruised or battered, but nevertheless contented and comforted for putting themselves on the firing line to protect public trust.

This is the situation with the National Pension Commission, PenCom, which is the regulatory body mandated to regulate, supervise and ensure the effective administration of pension matters in Nigeria. The management of the agency is currently facing challenges from what one may describe as ghosts of varied types.

Those at the helm of affairs at PenCom today have no doubt experienced what it means to fight institutional corruption. Mrs. Aisha Umar, the Acting Director General of PenCom and her team are certainly not finding it funny regulating the pension industry.

Recently, they have found themselves having to refute spurious allegations, one after the other, from largely faceless individuals and groups who cannot bear the pain of seeing the rugs being pulled away from their filthy feet and the long arm of the law catching up with them. These are people who see their stake in the industry only in terms of undue benefits to themselves and their organisations to the detriment of the common good.

It would be recalled that following the enactment of the Pension Reform Act 2004, which was later repealed and re-enacted in 2014, it became mandatory for employers to deduct at source, the monthly contribution of the employee from the employee’s salary in addition to the employer’s contribution and remit it to the Pension Fund Custodian (PFC) specified by the employee’s Pension Fund Administrator (PFA). It is one of the fundamental functions of PenCom to ensure that this process is strictly complied with, in order to achieve the cardinal objective of pension payment as and when due. PenCom has fairly succeeded in discharging this responsibly since its establishment in 2004 due to sustained commitment and performance.

The Nigerian pension industry is today worth over eight trillion of assets investment

in various segments of the economy.

However, a group that calls itself the Centre for Public Accountability (CPA) has, since 2016 engaged in an insurgency against PenCom, barely twelve years after the take-off of the Contributory Pension Scheme (CPS).

The group, and other faceless groups fronting for fraudulent employers and pension administrators, waged a relentless battle of attrition against PenCom, using half-truths and outright lies as weapons.

The struggle to sanitise the industry has pre-dated the current management of PenCom but intensified under the current Ag. DIrector General, Mrs Umar. This posture opened the regulator to campaigns of calumny by faceless groups claiming to expose corruption but actually fighting to protect themselves against the regulator’s hammer.

Under the CPS, a worker opens a Retirement Savings Account (RSA) into which his/her pension contributions were paid. The accruals can be regularly tracked through a regular RSA account statement from the Pension Fund Administrator (PFA), thus enabling a contributor plan for life in retirement with some measures of certainty.

Unfortunately, many employers of labour have found ways of circumventing the law and short-changing contributors. Although by the

In all fairness, the current regime at the agency does not deserve any such suggestion or insinuation of corruption or inefďŹ ciency. The management has not only operated with an unprecedented transparency, but it has worked efďŹ ciently with stakeholders in the industry to take the CPS to new levels

provisions of Section 11 (6) and (7) as well as Section 24(d) of the PRA 2014, it is an offence for an employer not to remit contributions, this has not deterred many employers from holding back pension contributions of their employees. This has caused undue delays to such contributors’ pension payment, thereby defeating the purpose of the CPS. It is on record that by March 2016, whereas a total of 7,006,734 employees were registered, only the pension deductions of 6,879,179 workers were remitted, leaving a deficit of 127,555. PenCom has reacted to this threat by the engagement of Recovery Agents, instituting law suits and forging inter-agency collaboration with the Economic and Financial Crimes Commission (EFCC) to crackdown on remitters and violators of other provisions of PRA 2014.

While it is not a complete success yet, the efforts have substantially helped to sanitise the industry. Dubious employers and PFA who may wish to circumvent the law now know what awaits them when they are caught.

PenCom has also recently gone further to improve the integrity of the pension administration process by making it mandatory for all Retirement Savings Account (RSA) holders to provide their National Identity Number (NIN) and Bank Verification Number (BVN) to the PFAs. PenCom, in a recent circular said the new development affects both active and retired RSA holders and conforms with the policy of the Federal Government of Nigeria.

All of these efforts would no doubt enhance transparency and efficiency in the pension industry, and by extension, a happy life for retirees, which has been the goal of the current management of PenCom led by Mrs. Umar.

Indeed, anyone familiar with the current regime of pension administration in the country knows that any allegation of fraud against the management of PenCom is both ridiculous and mischievous.

In the first place, the allegation is baseless because the CPS supervised by PenCom is structured in such a way that it is self-insured and difficult for fraud to be perpetrated. Every kobo of the trillions of the pension fund belongs to a named individual and can be tracked by both the individual contributors and the regulator. That is why to date, there has not been any complaint from contributors of stolen money. Secondly, the allegation is ridiculous

because PenCom itself is currently headed by an empathetic administrator whose only motivation is better life for retirees.

Interestingly, the Ag. Director -General of the agency, Mrs. Umar, recently took a swipe at critics of the CPS at the agency’s fourth quarter forum for states held in Port Harcourt, Rivers State. She said those making fraud allegations against the scheme were ignorant of its operation. Mrs. Umar, who was represented by the Head, States Operations Department, PenCom, Dr. Dan Ndackson, said the scheme has been structured and insured from fraud. She insisted that the current challenges of benefits payment were not with the contributory pension scheme, but problems inherited from the legacy Defined Benefits Scheme.

Truly, it is the challenges of motley ghosts from previous years that are still haunting the current management of PenCom. However, in all fairness, the current regime at the agency does not deserve any such suggestion or insinuation of corruption or inefficiency.

The management has not only operated with an unprecedented transparency, but it has worked efficiently with stakeholders in the industry to take the CPS to new levels.

Recent developments have indicated that the management has been able to get the federal government to improve the funding and timely release of funds for the payment of outstanding accrued pension rights of its retired employees, thereby substantially clearing the backlog of unpaid retirees under the CPS. Furthermore, PenCom has ensured that contributors are now more knowledgeable and enlightened about the process of accessing their benefits as a result of the annual preretirement workshops for prospective retirees being conducted by the agency.

The above and many other laudable programmes initiated by the current management of PenCom are certainly having positive impact on the pension industry. This is why they need the support and encouragement of stakeholders and well-meaning Nigerians to enable them do more. Those motley ghosts trying to run down the agency on baseless allegations do not mean well for the pension industry and Nigeria. The government must fish out them and deal with them as appropriate.

Suleiman wrote in from Abuja

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EDUCATION In FUOYE, It’s Peace in the Midst of Storm Raheem Akingbolu, who was recently at the Federal University, Oye Ekiti, reports that the growth of the seven-year-old institution is still being threatened by internal crisis This is not the best of times for students and management of the Federal University, Oye Ekiti. At the moment, where three to four students or staff gather, the stories are either about the unceremonious dismissal of the acting Registrar, Mrs. Koyejo-Fasakin or the ongoing strike by the Academic Staff Union of Universities (ASUU).

Other issues that are generating debate on the campus are the report of the Staff Disciplinary Committee on TETFund which led to the dismissal of two lecturers; the attempt being made by some faceless individuals to divide the university’s chapter of ASUU; and how a case of sexual harassment and aborted baby in the hostel, between a 100-level student, Precious Azuka and one Prof. Adewole Atere was cleverly swept under the carpet by the management.

Perhaps the major issue on the campus has to do with the case of forced exit of the institution’s only substantial Registrar since inception, Mr. Daniel Adeyemo, which is still pending at the National Industrial Court. Another pending case that is rattling the university community involves two lecturers, Dr. Oniyide Akingbe of the Department of English and Literary Studies and Dr. Oluwagbemiga Adeyemi of Demography and Social Statistics. Both lecturers were recently indicted for misappropriation of Tertiary Education Trust Fund (TETFund) and were subsequently sacked over allegations of gross misuse of research grants.

The university had recently set up an investigation panel to look into the utilisation of TETFund intervention grant. The committee, headed by the Dean, Faculty of Social Science, Prof J.S Omotola was mandated to investigate all cases of TETFund intervention outstanding funds, consider beneficiaries, who failed to submit reports in line with stipulated guidelines, investigate cases of abscondment of beneficiaries, misuse of such grants and make appropriate recommendations.

In its report, the panel alleged that the duo of Akingbe and Adeyemi not only failed to carry out the research; the topic was not in the research interest areas of the lead researcher. The committee, quoting the testimony of one of the team members, Dr. C.A Abrifor said it found it ‘curious that Abrifor, a lecturer I who was barely six months old in the university at the time could be made the lead researcher in a research team.

However, in what looked like an attempt to divide the ASUU, an announcement was recently made by the newly formed Congress of Nigerian Academia of Universities (CNAU) that lecturers at FUOYE have backed out of the ongoing strike.

The leader of CNAU in the university, Ayodeji Ige, who made the announcement, added that lecturers in the institution had switched their membership and allegiance to CNAU. Of course, this generated hot debate and counter-accusation among the lecturers but it was quickly nipped in the bud as the ASUU leadership in the university dismissed the purported backed out as a diversionary attempt by some enemies of the association to cause division.

During a visit to the campus by this reporter, it was not only confirmed that the strike has indeed paralyzed academic activities, some lecturers who were reported to be members of CNAU distanced themselves from the association.

For instance, Dr. Ademola Akinsorotan, who was said to be a leader of CNAU, told THISDAY in a telephone conversation that he is a member of ASUU and not CNAU. It was also confirmed that Akinyemi Omonijo PhD, of the Department of Water Resources Management and Agrometeorology is still the Chairman

FUOYE VC, Prof. Shoremekun of ASUU at the university. “I am not a member of CNAU, but an executive of ASUU- the acting Secretary of the union. CNAU and other unknown forces within ASUU, FUOYE chapter, will soon fizzle out,� Akinsorotan said.

Also speaking on whether the strike is still on in the university or not, the ASUU Treasurer in the institution, Dr. Olatayo Olaniyan likened the issue with the fable of the blind and the market. “A blind doesn’t need anybody to tell him whether the market is still on or not.

The moment he couldn’t hear the noise in the market, he knows the truth. This is a working hour and here I am with my family at home. If the strike is not on, I should either be in the class or my office. What I am saying in essence is that ASUU FUOYE is still part of the national strike until the national body of our great union says otherwise,� Olaniyan stated.

In a related development, the alleged death threat raised by one of the unions in the university is currently under investigation at the Ekiti State Police Command and Directorate of State Security, AdoEkiti. Investigation by our correspondent shows that the Vice-Chancellor of the university, Prof. Kayode Soremekun had been interrogated on the matter.

THISDAY findings also revealed that numerous protest letters bothering on injustice and double standard by the FUOYE management from both academics and non-teaching staff are already before the governing council of the university.

While questions are being asked on why the university management has not considered it fit to appoint a new bursar after the sudden death of the last bursar, Mr. Adebayo Adejuyigbe, who slumped and died during the governing council’s meeting in Lagos, some are also concerned about the removal of Mrs. Koyejo-Fasakin as the acting registrar last month. To this end, this reporter called the acting registrar to shed more light on the circumstance that led to her removal, but she declined any comment.

However, the fate of Daniel Adeyemo, the substantial Registrar, who has been battling to save his career for over a year, is still hanging and it remains a subject of debate, especially now that

the judgment day in the case is fast approaching.

The management’s decision against Adeyemo was based on a petition against him by the coalition of the university’s chapters of the Senior Staff Association of Nigerian Universities (SSANU), National Association of Academic Technologists (NAAT) and the Non-Academic Staff Union (NASU), which was dated May 16, 2017 and addressed to the governing council.

Among other allegations, the registrar was accused of his inability to be flexible and take advice and irregular promotion and reduction of salary. After receiving the petition, a committee was set up by the management to look into the issues raised against Adeyemo. After the committee submitted its report, a letter from the office of the vice-chancellor with ref. FUOYE/ VC/V/01/245 dated September 27, 2017, the University Governing Council asked the registrar to proceed on an indefinite leave.

Since the day the news that the registrar should proceed on indefinite leave was dropped on campus, peace has literally evaded the seven-year-old institution as management has divided over the decision.

While a few management staff, who didn’t see anything good in Adeyemo because of his strictness and principled posture, believed the decision served him right, many people saw it as a hasty move to get rid of him.

To this set of people, Adeyemo is paying heavily for a collective decision of the management in order to protect the interest of some sacred cows in the institution. Besides, many individuals and associations in the institution have condemned the composition of the panel and dismissed its report as unfair to the person of Adeyemo.

But in a reply to the petition and the decision of the panel, Adeyemo had on July 11, 2017, in a letter with ref. no: FUOYE/ REG/VC/170/VOL 1/146, through the VC to the pro-chancellor and chairman of council, expressed his sadness that the decision to proceed on leave was part of the fallout of council’s consideration of the report of the committee set up to look into the petition.

While assuring the council of his decision to comply with the contents of the said letter as a mark of due respect to a constituted authority, the registrar pointed out that as a principal officer in the university, and as a tradition, his deferred annual leave for the period of his tenure should accumulate towards the end of his tenure, adding that in any case, he has the prerogative to utilize all or part of the deferred annual leave only on his personal request.

According to the registrar, even though he was addressed in the presence of other members of council that council possessed some evidences against him; the evidences were not shown or read to him.

By these actions, he pointed out that he had been prejudged guilty and sentence passed on him without fair hearing, stating that the fact-finding committee set up never confronted him, interviewed or interrogated him with the evidences claimed to have been gathered to enable him affirm or deny them. “Yet, I was judged not fit to continue as Registrar.�

In a letter addressed to the chairman of the governing council, a copy of which was sent to the Minister of Education, Mallam Adamu Adamu, Adeyemo also accused the management of intentionally forcing him out of the institution in order to enable stooges of certain individuals take over the administration of the institution. He therefore appealed for the reconsideration of his matter, and that the judgement “unfairly� passed on him is reversed.

However, when the institution would not budge, Adeyemo approached the National Industrial Court sitting in Akure, Ondo State capital, to argue out his case and possibly get justice.

As things are and with many cases pending in court, concerned stakeholders are calling on the FUOYE governing council to take necessary steps to ensure that the scare resources of the university should not be wasted on crisis management and litigation. They are also calling on TETFund office to investigate all intervention grants that have now become weapon of intimidation, harassment and victimisation in the hand of some universities management (including FUOYE).

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EDUCATION

N4bn Unpaid Salaries: TASUED Staff Seek Buhari’s Intervention Femi Ogbonnikan in Abeokuta Staff of Tai Solarin University of Education (TASUED), Omu-Ijebu, Ogun State have called on President Muhammadu Buhari to urgently intervene in their welfare issue, which they said has led to the death of about 45 members since 2011.

The staff in a Save-ourSoul (SOS) letter to Buhari, signed by Dr. Dan Oludipe, Mr. Ebenezer Akinyosade, Mr. Adetowubo King, Dr. Dupe Oba-Adenuga and 10 others, complained about the refusal of the state government to pay their N4 billion Consolidated Tertiary Institutions Salary Structure (CONTISS) and Consolidated University Academic Salary Structure (CONUASS) arrears between July 2009 and October 2018.

According to them, the outstanding salaries and arrears were owed by the immediate-past administration of Gbenga Daniel and the current Governor Ibikunle Amosun.

They appealed to the president to persuade Amosun’s government to use the last tranche of Paris Club fund to pay their outstanding salaries and arrears.

The staff also asked the state government to restore their salary scale to 100 per cent with effect from October 2018.

The staff, who said Amosun’s government in 2011 paid half salary for the first three months immediately he assumed office, regretted

that his government has not paid the balance till date.

They claimed they have endured enough of the sufferings, but in their wisdom decided not to embark on unnecessary strike, while they have pinned their hope on the timely intervention of the president who they have confidence in, to salvage the precarious situation which the college has found itself.

The letter read: “We were further subjected to frustration and untold hardship by the government due to non-payment of salary for 14 consecutive months (April, May and June, 2015; September, October, November and December, 2015; January, February, March, April, May, June, July and August 2016). “After much persuasion and appeals to the state government vis-Ă -vis the appointment of a new provost for the college, the state government resumed the payment of half salary with effect from August 2016 to July 2017 and October 2017 (payment of half salary for 13 calendar months). “Between August 2017 and to the time of writing this report, the percentage of monthly salary paid to workers in the college has increased to 60 per cent (September 2017 to September 2018). “Your Excellency Sir, in July 2012, a new salary structure which was approved in 2009 for colleges of education was implemented in the college with the outstanding arrears

Monarchs Strengthen NasarawaVarsity/ Dundee Ties Funmi Ogundare Staff from one of the leading Scottish universities were treated to a royal welcome as they met with two esteemed Nigerian graduates.

Representatives of the University of Dundee recently met with the Emir of Keffi, Dr. Shehu Chindo Yamusa III and the Emir of Bakura, Alhaji Bello Muhammad Sani, both of whom are alumni of the institution, as part of continuing engagement with the university’s graduate community in the country.

The Emir of Keffi graduated from the university in 2004 with a Master of Law LLM degree, while the Emir of Bakura obtained his Master of Science from Dundee in 1977.

Representatives of the university and their counterparts from Nasarawa State University met to establish ties between the two institutions.

Overwhelmed by the warm welcome they got, Professor Peter McEleavy from the University of Dundee said: “Engaging with alumni is a central part of my role as the university’s Academic Lead for Sub-Saharan Africa.

However, this is the first time I have been received at a palace

and welcomed by a traditional horn player, drums and singers.

He explained the Keffi Emirate’s historical ties with Scotland and affirmed his desire to promote his university in Nasarawa State. “We were delighted when he accompanied us to Nasarawa State University, where he is the Chancellor and where productive discussions began with the institution’s senior management team.�

The University of Dundee already enjoys a strong relationship with Nigeria with almost 150 students currently studying there. Dundee has become a popular destination for Nigerian students, offering high-quality courses relating to the country’s oil and gas sector, as well as business, engineering and law.

A second member of the visiting team from the University of Dundee’s Centre for Energy, Petroleum and Mineral Law and Policy, Professor Raphael Heffron said: “These visits were highlights of our visit to this amazing country. It was truly an honour to meet the Emir of Keffi and to hear his support of Dundee’s Nigerian alumni network and we look forward to further developing our relationship with students from Nigeria.�

of same being 48 months. “The state government is yet to look into the payment of these backlogs despite series of appeals.

The non-payment of staff salaries and arrears for several months has taken its toll on staff of the college. “Between May 2011 and October 2018, the college has lost 45 staff. Some of these staff died because of little medical expenses

that could not be paid at the hospital. “Several other staff had been subjected to the nursing of terminal ailments occasioned by the psychological effect of non-payment of salaries. It is more devastating to note that we have husbands and wives working together in the college and are being subjected to this high level of dehumanisation. “Many families have

been put in disarray over non-payment of salaries as they cannot meet up with their social and financial obligations. “Many of our staff have been ejected by their landlords over their inability to pay house rent, while staff with children in secondary schools and universities have withdrawn their children due to dearth of fund. “The cumulative effect

of this development had subjected many staff to emotional distress as they have been so dehumanised beyond description. “Staff of the college has remained stagnant on a ground level for many years. The last time promotion exercise was carried out was in 2011. For seven years running, there has been no promotion for staff and this has implication on staff morale.�

L-R: The Vice-Chancellor, First Technical University (Tech-U), Ibadan, Professor Ayobami Salami, presenting a souvenir to the Chairman, First Bank Nigeria Plc, Mrs. Ibukun Awosika, during a courtesy call on Awosika at the Marina, Lagos office of the bank... recently

Greensprings School Offers FCET Umunze Provost Scholarship Opportunities to Emphasises Training/ Sensitisation for Public Servants Prospective Students In a bid to provide quality education for students across Nigeria, Greensprings School has announced its annual scholarship examination for entry into year seven and the post-secondary International Baccalaureate Diploma Programme for 2019- 2020 sessions.

The school will offer scholarships to candidates who perform exceptionally well in the 2019 examination into year seven and IB Diploma Programme (sixth form).

The scholarship examination would hold in Port Harcourt, Abuja and Lagos on Saturday December 15, 2018 at 9:00am.

According to the Executive Director, Mrs. Lai Koiki, “Greensprings School prides itself in its achievements and the scholarship examination is a way to support excellence by providing scholars a platform to experience well-rounded education. “Over the last couple of years, Greensprings School has shown tremendous growth in its educational services to students and parents. This year, five students from Greensprings School were honoured at the British Council where they received the Cambridge- outstanding learner awards.

She said the awards include Top in Country for Arts and Design, Top in Country for Drama, Top in Country for Accounting, Top in Country for Global Perspectives and Top in Country for Literature

(English). “Last year, six Greensprings students also received the Cambridge - outstanding learner awards from the British Council.

In that list was Honour Olatunji, who emerged top in the world for Mathematics in the Cambridge IGCSE.�

The executive director said the school is consistently redefining education in Africa and strongly believes that every child deserves a well-rounded education. “Children require a solid foundation to become global citizens to enable them contribute immensely to their communities. The scholarship programme will give students the opportunity to build up skills they can draw from for the rest of their lives. “In partnership with Thinking School International, Greensprings is authorised as the principal Thinking School in Nigeria, deliberately training 21st century learners in ‘thinking skills’ which is needed for helping students to build up their meta-cognition and growth-mindset capacity to the highest capacity.�

She added that majority of the graduates of the school are accepted by top universities in Europe, North America, Asia, America and Nigeria, as well as other parts of Africa. “Every year, a high number of Greensprings students are awarded scholarships at some of the world’s top universities.

The Provost, Federal College of Education (Technical) Umunze, Anambra State, Dr. Tessy Okoli, has called for a new orientation to work ethics and compliance to civil service rules among public servants, adding that the performance deficit witnessed in the public sector could be reversed with regular training and sensitisation programmes.

Okoli said this at the recent sensitisation workshop on work ethics for staff, organised by the college, in collaboration with the National Commission of Colleges of Education (NCCE) and an educational consultancy firm, SEFAN Consult.

A team of resource persons from different institutions attended the workshop and retooled participants in relevant work areas.

Addressing staff of the college during the opening ceremony at the Dr. Alex Ekwueme Auditorium, the provost stated that the Staff Audit Committee and Certificate Verification Committee from the NCCE at its last visit to the college observed some flaws and called for a training workshop on civil service rules, ethical values and dress code. “In an attempt to ensure harmony in the work place, the NCCE recommended among others, a sensitisation workshop where staff would be updated on crucial issues bothering on: attitude to work, condition of

service, financial management and staff development.�

She said the college assembled a crop of resource persons with seasoned experience to retrain staff on acceptable rules of work and warned that the college would not tolerate further misdemeanour of non-compliance to ethical values.

The provost assured the staff that the management would continue to reward diligent staff by introducing welfare packages and other incentives to encourage hard work. “Workers displaying good work ethics are considered for higher positions and more responsibilities. Such people are honest, responsible, reliable and dependable assets to this institution,� she added.

Also speaking, the Executive Secretary of NCCE, Professor Bappa-Aliyu Muhammadu, commended the college for organising the workshop and urged the participants to use the exercise to increase their knowledge and competence in key areas.

Bappa-Aliyu, who was represented by the Director, Personnel Management, NCCE, Mrs. Jumai Suleiman, stressed the need for civil servants to abide by ethical values, as well as to cultivate the virtues of selflessness in the discharge of duties, honesty, obedience and dedication to duties.

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Eroton Awards Scholarships to 40 Students, Fetes Children, Elders Ernest Chinwo in Port Harcourt An indigenous oil firm, Eroton Exploration and Production Limited has awarded scholarship to 40 students in junior and senior secondary schools in Rivers State. Recipients of the scholarship were drawn from the company’s host communities in the state.

Presenting the award to the students in Port Harcourt, the Chief Executive Officer of Eroton, Ebiaho Emafo, said the value of each beneficiary’s scholarships is between N100,000 to N150,000 annually.

He said the scholarships would continue until the students complete their secondary education, adding that the scholarships are awarded because education is one of the company’s pillars and serves as a way of giving back to the host communities.

“Eroton has been in operation since 2014 and so we decided that education is one of our pillars, one of the ways we show appreciation to the communities for accepting us to work within

their environment. So we thought, education being one of our pillars, it would be good to give scholarship to young students who have done exceptionally well in their studies because we felt that the youth are the future.

“By giving them these scholarships, we hope that they will be able to complete their studies, go to the university and arm themselves for life.”

He promised scholarship opportunities for undergraduate and master’s degree students, saying that the scheme is sustainable.

“It is very sustainable; we are going to be working with the (host) communities for as long as our licenses are in operation. So we are going to continue to do this for the communities. There would be opportunity to sponsor university students - undergraduates. There would be opportunity to cover master’s students and we would continue doing secondary education sponsorship as well,” he said.

Responding, the Rivers State Commissioner for Education, Tamunosisi Gogo Jaja, com-

mended the company for the gesture, saying that the firm is giving back barely four years after it started operations.

“You have started on the right footing and I know you will go places. What happened to other companies will not happen to you; even the prayers of the parents of these children and the students themselves would cause you to excel.”

Represented by Mrs. Mae Solomon, a Director, Quality Assurance at the ministry, Jaja urged the students to make good use of the opportunity.

“There is no sacrifice too great for you to make to see that you succeed and I believe that some of you would be employed by this company. Tell your siblings, tell your friends; let them also read. This opportunity given to you would keep you out of the streets.

“Don’t allow yourselves to be derailed in any way. Keep away from cultism; keep away from any social friends that would make you to derail. Face your books, there would always be

time to play and when the time comes you would know.”

Meanwhile, the company also presented a 22KVA soundproof generator to the Port Harcourt Children’s Home to solve the power challenge facing the orphanage.

Presenting the generator on behalf of the NNPC/Eroton Joint Venture, the Head, Business Development of Eroton, Dele Aikhionbare, said the company was moved by the plight of the children and embarked on the project as a way of giving back to the society.

The Matron of the home, Mrs. Gift Eke, said the generator would ease some of their challenges and also help to improve the health of the children.

The firm also donated refrigerator, gas cooker, wrappers and food items to the Home of the Elderly in Port Harcourt.

At the Compassion Centre for Physically Handicapped Children, Port Harcourt, Eroton also awarded N4 million to assist children with special needs undergo surgery.

L-R: The Head, Corporate Communication, Eroton Exploration and Production Limited, Mrs. Mercy Mars-Ebibei; the Director, Rivers State Child Welfare, Mr. Samuel Wilson; and the Head, Business Development, Eroton E and P, Mr. Dele Aikhionbare, with the generator donated to Rivers State Motherless Babies’ Home by NNPC/Eroton E and P Ventures in Port Harcourt… recently

Experts Make Case for Special Needs Children as Anthos House Opens Uchechukwu Nnaike Stakeholders in the education sector have solicited government and private sector support to address the challenges faced by children with special education needs in the country.

They observed that special education has always been a challenging area, as most institutions lack the resources and expertise to provide support for children with special needs in Nigeria.

Speaking recently in Lagos, at the inauguration of Anthos House, an initiative of Greensprings School, Mr. Femi Gbadebo observed that the problem most parents face especially those whose children suffer from intellectual disabilities is their inability to gain admission into a university when they complete secondary

school.

He said Nigeria needs to understand the purpose and meaning of inclusion, adding that a child being disabled means that such a child may not be able to cope in a normal classroom environment.

“These children require special skills training that will enable them cope better in life which is what Anthos House is out to address.”

The Head of Anthos House, Kimberley Scollard said the centre was built to help children understand and connect with their learning styles, adding that this would be supported by using systematic methods to discover their skills, abilities and individual needs.

Scollard said the centre will care for children with special needs such as Autism Spectrum Disorder (ASD); Dyslexia;

Down Syndrome; Attention Deficit Hyperactivity Disorder (ADHD), among others.

“Anthos House is a community which not just admits students to the school for special needs; it will provide therapy; counselling and assessment; and training.”

She urged parents searching for the right school for their children’s special education needs to bring them to Anthos House which is a unique place for children to learn and grow.

The Chief Executive Officer, Greensprings Educational Services Limited, Mrs. Lai Koiki said there is need for managers of education to think of vocations that people with special needs can engage in after leaving secondary school.

She said it is important to think of how to make people with special education needs

become independent and to reintegrate into the society, adding that there is need to have some set up that would give them that one-on-one accommodation and support and train them to be independent.

Koiki said she is happy that her team has sensitised people on the need to identify with children with special needs.

“Anthos House is about advocacy. It is about the society being able to pull together to give support to parents who have children with special needs.

“Every child deserves an opportunity to become the best he/she can be. Understanding your children’s developmental milestone is key to ensuring that they receive the support they may require, as early intervention is imperative,” she said.

KEHINDE OMORU www.kayomoru.com

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Ø ×ã ÍßÜÜÏØÞ ÏËÜØÓØÑ ÓÝËÌÓÖÓÞÓÏÝ˪ ʨÏÖÎ ÙÐ ÚÜËÍÞÓÍϘ áÏ ÒËàÏ ÌÏÏØ ÞÜËÓØÏÎ ÞÙ ÝÏÏ ÎÓʩÍßÖÞ ÝÙÍÓËÖÖã ßØËÍÍÏÚÞËÌÖÏ ÌÏÒËàÓÙßÜÝ ËÝ ØÙÞ ØÏÑËÞÓàÏÝ ÌßÞ ÚÙÝÓÞÓàÏݲ ˩ ÒËÖÖÏØÑÓØÑ ÌÏÒËàÓÙßÜÝ˪ ËÜÏ ÞÒÏÜÏÐÙÜÏ ÌÏÒËàÓÙßÜÝ ÞÒËÞ ÍÒËÖÖÏØÑÏ ãÙß ÞÙ ÜÏËÍÞ áÓÞÒ ÝÞÜËÞÏÑÓÏÝ ÞÒËÞ ÌÜÓØÑ ËØ ÏØÎ ÞÙ ÞÒÏ× ÙÜ ×ËØËÑÏ ÞÒÏÓÜ ÙÍÍßÜÜÏØÍÏݲ ËØËÑÓØÑ ÍÒËÖÖÏØÑÓØÑ ÌÏÒËàÓÙßÜ ÝßÍÍÏÝÝÐßÖÖã áËÜÜËØÞÝ ËØ ËʵÓÞßÎÏ ÞÒËÞ ÜÏÛßÓÜÏÝ ÞÒËÞ ãÙß ÝÏÏ ÞÒÏ× ËÝ Ë ÚÏÜÝÙØ˪Ý ÍÙ××ßØÓÍËÞÓÙØ ÙÐ Ë ØÏÏÎ ÙÜ ØÏÏÎÝ ÞÒÏã áËØÞ ËÎÎÜÏÝÝÏβ Þ ÓÝ áÜÙØÑ ÞÙ ËÝÝß×Ï ÞÒËÞ ÏàÏÜã ÞÜÙßÌÖÏÝÙ×Ï ÌÏÒËàÓÙßÜ ÓÝ ÕØÙáÓØÑÖã ÍÙØÞÜÓàÏÎ ÙÜ ÍÙØÝÍÓÙßÝÖã ÎÜÓàÏØ˛ ÙÜ ÝÙ×Ï ÚÏÙÚÖϘ ÓÞ˪Ý Ë ØÏÏÎ ÐÙÜ ËʵÏØÞÓÙØ ÞÒËÞ ÝÏÞÝ ÞÒÏØ Ùʥ˛ Þ ×ÓÑÒÞ ØÙÞ ×ËʵÏÜ ÓÐ ÞÒÏ ËʵÏØÞÓÙØ ÞÒÏã ÞÒÏØ ÑÏÞ ÓÝ ÚÙÝÓÞÓàÏ ÙÜ ØÏÑËÞÓàÏ ËÝ ÖÙØÑ ËÝ ÞÒÏã ËÜÏ ÌÏÓØÑ ÖÓÝÞÏØÏÎ ÞÙ˛ ØÎÏÏÎ ÞÒÏ ÌÏÒËàÓÙßÜÝ ×Ëã ØÙÞ ÌÏ ËÑÑÜÏÝÝÓàÏ ÌßÞ ÐßØÍÞÓÙØ ÞÙ ÎÏ×ËØÎ ËʵÏØÞÓÙØ˛ Þ ÓÝ Ó×ÚÙÜÞËØÞ ÞÙ ØÙÞÏ ÒÏÜÏ ÞÒËÞ ÍÒËÖÖÏØÑÓØÑ ÌÏÒËàÓÙßÜ ÓØ ÞÒÓÝ ÍËÞÏÑÙÜã ÓÝ ØÙÞ ÞÙ ÑËÓØ ÜÏàÏØÑϘ ÌßÞ ×ÙÜÏ ÞÙ ÜÏÖÏËÝÏ ËØÑÏÜ ÙÜ ÐÜßÝÞÜËÞÓÙØ˛ Þ ÞÓ×Ïݘ ÍÒËÖÖÏØÑÓØÑ ÌÏÒËàÓÙßÜ ×ÓÑÒÞ ÙÍÍßÜ ÞÙ ÍÙ××ßØÓÍËÞÏ Ë ØÏÏÎ ÞÙ ÏÝÍËÚÏ ÞÒÏ ÏØàÓÜÙØ×ÏØÞ ÙÜ ÝÓÞßËÞÓÙØ ÞÒÏ ÚÏÜÝÙØ ÎÙÏÝ ØÙÞ áËØÞ ÞÙ ÌÏ ÓØ˛ ËÍÕ ÙÐ ×ËÞßÜÓÞ㘠ÖËØÑßËÑÏ ÝÕÓÖÖݘ ßØÎÏÜ̋ÎÏàÏÖÙÚÏÎ Ï×ÙÞÓÙØËÖ ÝÕÓÖÖÝ áÙßÖÎ ÞÒÏØ ×ËÕÏ ÍÒÓÖÎÜÏØ ÙÜ ËÎÙÖÏÝÍÏØÞÝ ÌÏÒËàÏ ÎÓÝÜßÚÞÓàÏÖ㘠ßØÝÙÚÒÓÝÞÓÍËÞÏÎÖã ËØÎ ÚÙÝÝÓÌÖã ßØÍßÖÞßÜÏβ Ùá ÙʰÏØ ÎÙ ãÙß ËÝ Ë ÞÏËÍÒÏÜ ÙÜ ÚËÜÏØÞ ×ÙÎÏÖ ÞÒÏ ÌÏÒËàÓÙßÜ ãÙß˪Î ÖÓÕÏ ãÙßÜ ÍÒÓÖÎ ÙÜ ÝÞßÎÏØÞ ÞÙ ÚÜËÍÞÓÝÏˣ ÒËÖÖÏØÑÓØÑ ÌÏÒËàÓÙßÜ ËÖÝÙ ÒËÝ Ë ÝÏØÝÙÜã ÐßØÍÞÓÙØ˛˛ Þ ÐÏÏÖÝ ÑÙÙΘ Ðßؘ ×ËÕÏÝ ÞÒÏ ÚÏÜÝÙØ ÐÏÏÖ ÚÙáÏÜÐßÖ ËØÎ ÏÝÞËÌÖÓÝÒÏÝ Ë ÝÏØÝÏ ÙÐ ÍÙØÞÜÙÖ˛ Ø ÐËÍÞ ÞÒÏ ÓØÎÓàÓÎßËÖ ×Ëã ÐÏÏÖ ÝÙ ÑÙÙÎ ÌÏÒËàÓØÑ ÞÒÓÝ áËã ÞÒËÞ ÞÒÏã ÏâÚÏÜÓÏØÍÏ ØÙ ÞÒÙßÑÒÞ ËÌÙßÞ ÞÒÏ ÍÙØÝÏÛßÏØÍÏÝ ÙÜ ×Ëã ÎË×Ø ÞÒÏ ÍÙØÝÏÛßÏØÍÏÝ ÞÒËÞ ×Ëã ÐÙÖÖÙá˛ Ø ÏâÞÜÏ×Ï ÍËÝÏÝ ÙÐ ÝÏÖÐ̋ÒËÜ× ÙÜ ÝÏÖÐ̋ÓØÔßÜÓÙßÝ ÌÏÒËàÓÙßܘ ÝÏÖÐ̋ÓØʮÓÍÞÓØÑ ÌÙÎã ÒËÜ× ×Ëã ÌÏ ÝÏØÝÙÜÓÖã ÝËÞÓÝÐãÓØÑ ËÞ ÞÒÏ ÞÓ×Ï ÓÞ ÓÝ ÌÏÓØÑ ÍËÜÜÓÏÎ ÙßÞ˛ Ø ÐËÍÞ˜ ÓÜÙØÓÍËÖÖ㘠ÓÞ ×Ëã ÚÜÙàÓÎÏ ÜÏÖÓÏÐ ÐÙÜ ÞÒÏ ÓØÎÓàÓÎßËÖ ÌÏÍËßÝÏ ÞÒÏ ÚÒãÝÓÍËÖ ÚËÓØ ÎÓÝÚÖËÍÏÝ ÞÒÏ Ï×ÙÞÓÙØËÖ ÞÜËß×Ë ÞÒÏã ËÜÏ ÏâÚÏÜÓÏØÍÓØÑ˛ ËÝÞÖ㘠ÓØ ÍÒËÖÖÏØÑÓØÑ ÌÏÒËàÓÙßܘ ãÙßÜ ÍÒÓÖÎ ÙÜ áËÜÎ ×Ëã ÌÏ ÍÙ××ßØÓÍËÞÓØÑ Ë ÎÏÝÓÜÏ ÐÙÜ ÚÒãÝÓÍËÖ ÙÜ ÞËØÑÓÌÖÏ ÜÏáËÜÎ̙Ý̚˛ ÒÏ ÍÒËÖÖÏØÑÓØÑ ÍÒÓÖΘ ËÎÙÖÏÝÍÏØÞ ÙÜ ËÎßÖÞ ×Ëã ÒËàÏ ÖÏËÜØÞ ÞÒËÞ ÞÒÏ ÌÏÒËàÓÙßÜ ÏÖÓÍÓÞÝ ÞÒÏ ÜÏÝÚÙØÝÏ ÞÒÏã ËÜÏ ÝÏÏÕÓØÑ ÐÜÙ× ãÙ߲ Ùß ÔßÝÞ ×ßÝÞ ʨØÎ ÞÒÏ ÌÏÝÞ ÝÞÜËÞÏÑã ÞÙ ÍÙ××ßØÓÍËÞÏ ÏʥÏÍÞÓàÏÖã áÓÞÒ ãÙßÜ ÙáØ ÍÒÓÖÎ˞ ÝÞÙÚ ËÝÕÓØÑ ÚÏÙÚÖÏ ÞÙ ÎÙ ÓÞ ÐÙÜ ãÙßˠ˛ Mrs Kehinde Omoru writes from the UK

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MTOY: Addressing Challenges of Teachers, Teaching in Nigeria Since its establishment in 2015, the Maltina Teacher of the Year award has been motivating and financially empowering teachers, just as stakeholders believe that the move and similar initiatives will improve the quality of education in the country. Uchechukwu Nnaike reports If knowledge is power, then teachers must be the power house. For most societies, the root of success in all sectors is traced to the teaching profession. Indeed, the long chain of all other professions originates from the teaching profession.

Teaching is regarded as an art of guiding and imparting knowledge and the best suited for this are professionally qualified and trained teachers.

Experts also describe teaching as a profession that is focused on human resource development and as a social function that aims at growth in others. Not a few experts agree that teachers are regarded as the interpreters of a nation’s educational plan and philosophy.

Teachers play a vital role in training, coaching and determining the quality of education, which is critical to sustainable national development.

They are regarded as the builders of the future and wealth of nations and therefore deserve to be encouraged and celebrated.

However, scholars are worried that the teaching profession in Nigeria is deteriorating which has been the fallout of factors such as underfunding of the sector, economic downturns, students’ unrest bedeviling the sector and a general fall in the standard of living in the country.

At every World Teachers’ Day celebration on October 5, the welfare of teachers always agitate minds, as the Nigeria Union of Teachers (NUT) would reiterate its call for an improved welfare package for its members across the country. The union has also been calling on individuals, institutions, corporate organisations and government at national and state levels to rise to the challenge and improve the status of teachers.

Perhaps the biggest challenge facing Nigeria in providing quality education that promotes sustainable development is inadequate funding by all levels of government to the extent that funding has been in response to conditionality imposed by International Financial Institutions (IFTs).

Statistics show that the federal government’s expenditure on education was below 10 per cent of the national budget between 1997 and 2000. What is worse, the national expenditure on education cannot be properly computed because various state governments’ expenditure on education cannot be determined in relation to the UNESCO recommendation of 26 per cent of national budgets.

Meanwhile, the challenges confronting the profession continue to mount. These include the best brains not willing to embrace teaching and poor welfare and reward for teachers. Teachers too have been accused of not demonstrating the required professionalism and passion.

Others include low wages, poor motivation, absence of a professional education academy, lack of professional and in-service trainings, high teacher-pupil ratio and lack of autonomy

by NUT. In all these, education stakeholders have

L-R: The Minister of State for Education, Professor Anthony Anwukah; a member of jury, Professor Mopelola Omoegun; the 2018 Maltina Teacher of the Year, Opeifa Olasunkanmi; and the Managing Director, Nigerian Breweries Plc, Jordi Borrut Bel, at the grand finale of the 2018 award presentation in Lagos‌ recently repeatedly called on the government to intensify efforts to attract and retain the best hands in the teaching profession for effective nation building.

They particularly emphasised the importance of teachers and the teaching profession to the country’s quest for development.

A Professor of Educational Management at the University of Lagos, Alloy Ejiogu maintained that teachers are invaluable drivers of societal norms, values and growth and no other person could have such an overarching influence in the lives of young members of any society other than the teacher.

He said teachers’ impact is not only outstanding by its success stories, but also by its potential and real time errors. He explained that while the medical doctor buries his mistakes and the engineer dies with his own errors, the entire society perishes with the mistakes of the teacher. “Then, can you ever imagine a Nigeria without any teacher- pre-primary, primary, secondary and tertiary? Or what more, a Nigeria replete with demotivated, disgruntled, unqualified and incompetent teachers who cheat their way through this sublime and noblest of human responsibilities; what would we have in return?�

Taking these into cognizance, the Nigerian Breweries Plc, in line with its philosophy of ‘Winning with Nigeria’, resolved in 1994 to play a more active role in the development of education in Nigeria when it established the Nigerian Breweries-Felix Ohiwerei Education Trust Fund with a commencement capital of N100 million.

The Managing Director, Mr. Jordi Borrut Bel explained that in 2015, the company’s intervention in education was expanded to

include teachers when the Maltina Teacher of the Year (MTOY) initiative was launched. He said the initiative was hinged on the realisation that teachers hardly get the recognition they deserve despite the pivotal role they play in determining the quality of education and the future of the country.

Borrut Bel maintained that over the years, the trust fund has impacted on over 25,000 students with more than 400 classrooms, 30 libraries and laboratories built in over 40 communities across Nigeria.

According to him, the intervention which has become an integral part of the company’s sustainability agenda, has covered primary, secondary and tertiary levels of education.

The initiative has provided a platform for exceptional teachers to be identified, showcased and rewarded. It is also aimed at restoring the pride of teachers and the dignity of the teaching profession.

With prizes worth over N50 million annually, the Maltina Teacher of the Year has been rewarding commitment and diligence to duty by exceptional teachers across the country. Since its inception in 2015, the award has also demystified the long-held belief that the teacher’s reward is in heaven.

Since its debut, the award has produced four grand prize winners. At the inaugural edition in 2015, a teacher with the Federal Government Girls College, Onitsha, Anambra State, Mrs. Rose Obi blazed the trail, while Mr. Imoh Essien, a teacher at the Special Education Centre for Exceptional Children, Uyo, Akwa Ibom State, won in 2016.

In 2017, Mr. Felix Ariguzo, a teacher with

Mastercare International School, Asaba, Delta State emerged winner, while Mr. Samuel Opeifa from Government Secondary School, Abuja emerged champion of 2018.

Each of the overall winners was rewarded with N1 million instantly, plus N1 million every year for the next five years and a block of classrooms built in each of their schools.

Also, the first runner-up received N1 million, while the second runner-up got N750,000 plus a trophy. State champions were each rewarded with N500,000.

With more participation of teachers judging by the increasing number of entries across the country, perhaps the award and other similar initiatives established to encourage teachers would address some of the challenges confronting the profession.

At the commencement of the 2018 award in May, Prof. Ngozi Osarenren of the Department of Educational Foundation, University of Lagos, and other stakeholders stressed the importance of teachers and the teaching profession to the country’s quest for development.

They explained that teachers are invaluable drivers of societal norms and the teaching profession must be respected to attract the best and the brightest.

The expert highlighted factors that could attract the best brains to the profession to include professionalising teaching, reasonable and guaranteed salary, job security and competitive entry requirements for would-be teachers.

It therefore behoves the government to make the teaching profession attractive by applying the recommendations of experts so as to salvage the declining quality of education in the country.

Baywood Foundation Boss Tasks Youths on Nation Building Funmi Ogundare The Chairman, Baywood Foundation, Emperor Ibe Baywood has said instead of blaming the youths for vices such as kidnapping, armed robbery, malpractice, violence, HIV/AIDS, cultism and sexual promiscuity, they should be given the power to be involved in policy making decisions that will shape their future, which is the case in developed countries.

He argued that if the country refuses to accept that its youths are solid assets for future growth, it will miss the opportunity to capitalise on the huge potential.

Baywood, who said this recently at the launch of his book, ‘Beyond Rhetoric’ in Lagos, said: “We blame youths for kidnapping, theft and other vices, but we have not given them enough chance to show their talents and capacities.

Worse still, they have no voice in the decisions taken over things that concern them. Yet many of them have remained resolute in keeping up with the fight; a fight against a system that seems to have forgotten that they exist.�

He said the book is his contribution to humanity, adding that it responds to this anomaly by offering solutions that go

beyond the usual talk-shows the country is known for as a talking nation with no action. “The book is challenging the mere rhetorics of Nigerians and giving a solution which lies in the ‘affirmative action. No one needs to be told that dealing with the enormity of these challenges bedevilling the youth cannot be achieved by mere rhetoric. The solution lies on decisive actions that are backed and given teeth by law and relevant legislations.�

In his remarks, the ViceChairman, Agric Business Group, Chief Emmanuel Ijewere appealed to Nigerian youths to rise and take advantage of

opportunities around them with the intent of reforming the country.

He said if youths want representation in the polity, they shouldn’t just sit and wait for things to happen, but ensure they take action.

He regretted that those who are already at the helm of affairs in the country have failed to give up power to youths. This he said is why the country is still following the old order. “No-one will willingly relinquish power to the youths, you need to grab it. Ask yourselves, in 2019, do we want to continue with the old order? Nobody will give you anything. Youths

have to make it clear that failure to invest in them, there is no future.�

He said the President of France, Emmanuel Macron wouldn’t have succeeded if his fellow youths didn’t stand to support him, adding that the youths should seek counsel and take advantage of it to reform Nigeria. “Countries did not rely on affirmative action but on direct actions,� Ijewere who was Chairman of the occasion said.

In his keynote address titled ‘Between Essentialisms and Despondency’, the Country Director, Plan Internal, Abuja, Dr. Hussaini Abdul, who said he has been involved in youth

issues in the past 10 years, noted that issues concerning them have been key conversation globally.

He regretted the huge misconception and fallacies about youths, saying that they have been criminalised and marginalised and that political parties have failed to give them the platform to make progress. “Youths have become mainstream in conversation but not mainstream in development discourse.�

The book reviewer, Professor Patricia Dali said affirmative action can always be merged with direct action to give youths opportunities to take leadership positions.

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T H I S D AY Ëž ÍŻÍ°Ëœ Í°ÍŽÍŻÍś

CITYSTRINGS

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Royal Honour for the Social Entrepreneur Ayodeji Ake who witnessed the turbaning ceremony of the first 'Waziri Hausa', Alhaji Yakubu Gobir, at the palace of the Emir of Dauara, Katsina State, reports that it was an honour well deserved for the social entrepreneur

I

t was an elaborate celebration recently in the ancient city of Daura in Kastina State on November 19, 2019, as indigenes and non-indigenes assembled in their stunning attires in the palce of the Emir to witness the turbaning of the first Waziri Hausa, Alhaji Yakubu Gobir, a foremost social entrepreneur and philanthropist.

Groups from Kwara State were all in attendance in their native attires and customised wears with ‘Alh. Yakubu Garba Gobir as Waziri Hausa’ inscribed on them, as a symbol of love and support.

For the records, the Waziri is synonymous to a prime minister and they mostly exist in Islamic nations such as Turkey, Pakistan and so on. That title of Waziri is very well known, in fact, there is a place called Waziristan in Pakistan. The title is usually given to somebody that is very enlightened and knowledgeable. The person is usually a scribe or adviser to the emir in most countries or empire and as the prime minister, he is very close to the emirs.

It’s usually the position next to the emir.

The Feast Given the high position the Waziri occupies, the event started with a feast in the palace, with a well set table of different dishes-both local and foreign dishes. The Emir and the Waziri led the crowd to the feast room where all were fed in buffet style, after which the turbaning followed.

L-R: Emir of Daura, His Royal Majesty, Alhaji Umar Farouk and Waziri Hausa, Alhaji Yakau Gobir

The Turbaning At the event, the Emir of Daura, His Royal Majesty, Alhaji (Dr.) Umar Farouk, urged the newly turbaned Waziri to be upright and avoid anything that would tarnish the image of Daura Emirate and the entire Northern Nigeria. Umar emphasised that only the Daura Emirate council is the only council with the ability of giving traditional titles that covers the entire Northern Nigeria.

He said: “I have been given the mandate by emirs in the Northern Nigeria to bestow on you the title of Waziri Hausa. Daura Emirate council is the only council that can give a traditional title that covers the entire Northern Nigeria based on its historical background.

"We in Daura are aware that some disgruntled historians are desperately trying to destroy evidence about Daura history. We have evidences like the Kusugu well and the sword used to kill the snake inside the well. We still have the room of Queen Daurama inside the Emir ’s Palace for all doubting to see."

Turbaning process of Waziri Hausa at the Emir Daura Palace, Katsina State

The Waziri Hausa, Alhaji Yakau Gobir

of the Gobir lineage, and if you look at it, the Gobirs are everywhere, even in Lagos.

"You will see the mark, I don’t have

poverty and feeling of exclusion.

"If you go to some of those areas you will not even know if they are part of Nigeria. When you go to some areas in Sokoto State, you will travel several kilometers and you won’t even see one police station. And you hear what’s happening in Zamfara, and it’s also happening in Sokoto State too. And especially when it’s time for politics, those kind of things start happening. “It has nothing to do with religion.

It usually has to do with economics and power. And also in the South, a lot of people don’t understand what the Northern agenda is. They will say President Muhammadu Buhari is proIslamic, or anti-Christian; it’s not so.

If you get close to him, you will find out it’s not so.

"One of the closest person to President Mohammadu Buhari that I knew intimately was General Tunde Idiagbon.

He’s from Ilorin, Yoruba speaking. So that’s the kind of role I intend to play as the Waziri of Hausa. You know this title is a lifetime title. And I pray that Allah gives me the long life to be able to do it and even over time, I will be able to have impact in Nigeria."

Spousal Commendation Speaking with enthusiasm, the wife of the new Waziri Hausa, Balikis Gobir, noted her husband over the years has been over the years been a philanthropist and ambassador of peace.

She said: “I am happy my husband is the Waziri Hausa. He has been very kind and I am sure he will use this title as a platform of reaching out to the people. He will do more by ensuring peace continues to reign."

Transformational Pledge On his part as the Waziri Hausa, Alhaji Yakau Gobir, pledged positive transformation in the Northern areas and also bridging the gap between the Northern and the Southern regions.

He said: “First of all, I thank God for the gift and the responsibility that goes with it, and I acknowledge that it is only God that can help one to be successful in any role one is given. What I want to rely on is the fact that I am

My ďŹ rst priority as the Waziri of Hausa is to create harmony not only within Northerners, but across the country where Northerners reside to curb internal crisis, since such crisis are as a result of poverty and exclusion

the mark, but you will see people of Gobir descent in almost every town or city in Nigeria and as well in Niger, in fact the Gobir are very powerful in Niger. �I will first of all rely on my Gobir people, they have been very supportive and that is a network that I will first of all use. I will of course reach out to the Northern emirs. And more importantly, the Emir of Daura in consultation with the other emirs decided to give somebody like me this title because they are looking at the future."

Speaking on his first priority as the Waziri of Hausa, he said he will create harmony not only within Northerners, but across the country where Northerners resides to curb internal crisis, adding that the crisis are as a result of poverty and exclusion. “Look at what happened in Kaduna recently, that has been a perennial problem. But it’s not about religion; most people don’t know. It’s about territory. If you look at the crisis that keeps happening in Jos, it’s not religion but territorial problem. If you look at what’s happening in the North-east with Boko Haram, it’s not religion, its

37

T H I S D AY ˾ ͯͰ˜ ͰͮͯͶ

CRIME&SECURITY

Navy Decorates Nine Promoted Officers Nine promoted officers of the Naval Training Command (NAVTRAC), were weekend decorated by the Flag Officer Commanding (FOC), Rear Admiral Standford Enoch.

At the decoration were nine officers comprising five commodores, three captains and one commander, who were shipped to their new ranks at a brief ceremony held at the Nigerian Navy Ship (NNS) QUORRA in Apapa, Lagos.

Commending the newly decorated officers, the FOC reminded them that much more was expected of them by the nation.

He urged them to remain loyal to the country and ensure

they surpassed their previous outstanding records that earned them promotion.

Meanwhile, as campaigns for next year's elections gather steam, the FOC warned personnel to stay away from politics and ensure criminal elements do not have access to the waterways.

Enoch said the navy was not oblivious of the fact that criminal elements would want to take advantage of the electioneering period to cause trouble, charging his lieutenants not to let their guards down.

He said: "Our expectation from them is more loyalty to the nation first of all that counted them worthy, recognised their efforts

and elevated them.

"So, they should continue and do more than they have done to ensure they surpass their former records to earn further elevation.

"As we approach the elections, criminality will likely increase and it is expected that security is tightened. They should ensure that personal security of both the officers and men is retained.

"They should stay away from politics. It is only when necessary and if naval assistance is sought for internal security duties that they will be so allowed to participate and even in doing so, they must stay far away from electioneering and polling issues."

CRIME SITUATION REPORTS

SECURITY TIPS (PART 35) For the Ember Month The festive season is usually characterised by increased criminal activities. Please be guided by the following tips: 1. Personal Security r,FFQ B MPX QSPà MF CMFOE JO BOE CF BMFSU UP EFWFMPQNFOUT JO ZPVS environment. r"WPJE LOPXO DSJNF QSPOF BSFBT BOE CMBDL TQPUT r"WPJE SPVUJOF QBUUFSO PG NPWFNFOUT BOE MBUF OJHIU PVUJOHT 5IF more predictable your movements and schedules are, to and from places of leisure, entertainment, worship, shopping, schooling, the easier it is for a kidnapper to plan and execute your abduction. r"WPJE VOEVF FYQPTVSF JODMVTJWF PG ZPVS GBNJMZ NFNCFST r4BWF FNFSHFODZ OVNCFST PO ZPVS QIPOF XJUI TQFFE EJBM GPS FBTZ call in an emergency. r3FHVMBSMZ SFWJFX ZPVS QFSTPOBM TFDVSJUZ UIF TFDVSJUZ BSPVOE ZPVS home, and your spouse’s business premises.

SOURCE: Georgeezblog

EMERGENCY NUMBERS FOR IMO STATE POLICE COMMAND (a) Police Control Room Nos: 08034773600 or 08098880197 (b) Commissioner of Police: 07065679050 (c) Deputy Commissioner of Police (Admin): 08034895142 (d) Deputy Commissioner of Police, SCIID: 07032537681 (e) Deputy Commissioner of Police (Ops): 08036139111 (f) Area Commander Owerri: 08034501453 (g) Area Commander Orlu: 08033280491 (h) Area Commander Okigwe: 07037527225 J 1PMJDF 1VCMJD 3FMBUJPOT 0GÃ DFS *NP 4UBUF SOURCE: Imo State Police Command

LAGOS CP AND PRINCIPAL OFFICERS A cross section of the newly promoted officers and their family members

1. CP Imohimi Edgal, Commissioner of Police Lagos State 08033040870 2. DCP Ayuba Elkanah Nabuni, Deputy Commissioner of Police Administration 08033422152 3. DCP Muhammed Ali Ari, Deputy Commissioner of Police Operations 08073666669 4.ACP Mohammed Danladi, Area Commander A, Lagos Island 08034668470 5. ACP Sani Sabo, Area Commander B Apapa 08038452224 6. ACP Godwin Eze, Area Commander C Surulere 08023407772. "$1 "LJOCBZP 0MBTPKJ "SFB $PNNBOEFS % .VTIJO "$1 :VTVG "KBQF "SFB $PNNBOEFS & 'FTUBD "$1 *CSBIJN ;VOHVSB "SFB $PNNBOEFS ' *LFKB 10. ACP Arumse J.D, Area Commander G Ogba 08033464144 11. ACP Miller Dantawaye, Area Commander H, Ogudu 08036695572 12. ACP Felix Oben, Area Commander J Elemoro 08033320682 "$1 )PQF 0LBGPS "SFB $PNNBOEFS , .PSPHCP "$1 *TIPMB 0MBSFOXBKV "SFB $PNNBOEFS - *MBTIF "$1 "HCBNJOPKB 5PZJO "SFB $PNNBOEFS . *EJNV "$1 .PIBNNFE "INBEV "SFB $PNNBOEFS / *KFEF 17. ACP Abdulsalam Gazali Alade, Area Commander P Alagbado 08033539984 $41 $IJLF 0UJ 1PMJDF 1VCMJD 3FMBUJPOT 0GÃ DFS 1130

Source: The Lagos State Police Command

The Flag Officer Commanding, Naval Training Command, Rear Admiral Standford Enoch, after decorating Commodore Noel Madugu, with the latter's wife

KNOW YOUR POLICE OFFICERS (5) - The Deputy Inspector General of Police, Department of Operations, Joshak Habila (i) The Department of Operations is central to all Police operational activities in Nigeria especially in the areas of crime prevention and maintenance of law and order. It is headed by DIG JOSHAK HABILA, psc(+).

The department is in charge of: r1MBOOJOH BOE PSHBOJTJOH JOUFSOBM security measures and monitoring their execution. r%JSFDUJPO BOE DP PSEJOBUJPO PG /1' Policies and crime prevention. r 'PSNBUJPO PG /1' 1PMJDJFT PO USBGÃ D control and management. r3FWJFXJOH BOE GPSNVMBUJOH QPMJDJFT on tactical operations schemes of crime control and preventions. r 1MBOOJOH BOE DPPSEJOBUJOH PG KPJOU operation with military. r'PSNVMBUJOH QPMJDJFT GPS UIF DPOUSPM and management of incidents such as civil disturbances, riots, disasters, elections, suppression of insurrection and trade union dispute. r6UJMJTBUJPO PG GPSDF BOJNBMT GPS DSJNF prevention. r'PSNBUJPO BOE JNQMFNFOUBUJPO PG policies on anti-terrorism.

SOURCE: Police Force Headquarters, ABUJA.

Rear Admiral Enoch with Commodore Captain CD Okehie and Mrs. Okehie

Habila

38

W E D N E S DAY Ëž DECEMBER 12, 2018

BUSINESS/MONEYGUIDE

FG Highlights Benefits of Enyimba Economic City James Emejo Ă“Ă˜ ĂŒĂ&#x;ÔË The Federal Ministry of Industry, Trade and Investment has highlighted the benefits of the Public-Private Partnership with the Abia State Government and Crown Realties Plc for the development of Enyimba Economic City in Abia State.

The partnership, according to a statement from the Strategy and Communication Adviser to the Minister of Industry, Trade and Investment, Bisi Daniels, was one of many under a programme to develop special economic zones in the country, for which stakeholder engagement was ongoing. Other projects under the Public-Private Partnership model, which are to serve as pilot projects are in Katsina and Lagos states. “The federal government’s

Economic Recovery and Growth Plan identifies the development of Special Economic Zones (SEZs) as a major strategic tool to accelerate the implementation of the Nigeria Industrial Revolution Plan through the manufacturing of goods for exports,� Minister of Industry, Trade and Investment, Dr. Okechwuku Enelamah, was quoted to have said. “Accordingly, Project MINE (Made in Nigeria for Exports), was envisioned by the Federal Ministry of Industry Trade and Investment and the Nigeria Export Processing Zone Authority (NEPZA), to develop SEZs to world class standards and position Nigeria as the pre-eminent manufacturing hub in sub-Saharan Africa and a major exporter of made in Nigeria goods and services regionally and globally,� the

minister added.

Project MINE among others, seeks to aid structural transformation of the Nigerian economy by increasing the manufacturing sector’s contribution to Gross Domestic Product to 20 per cent by 2025; contribute to sustainable inclusive growth by creating 1.5 million new manufacturing jobs in the initial phase of the project; increase and diversify foreign exchange earnings by increasing manufacturing sector exports to at least US$30 billion annually by 2025; and create local models of global best practice in provision of world class infrastructure at competitive costs connecting SEZs to international and regional markets with transport links, uninterrupted power, ICT, water, sewage and other services to ensure smooth and efficient operation of SEZ businesses.

Unity Bank Partners NACCIMA on Unique e-Payment Solution Nume Ekeghe Unity Bank Plc has gone into a partnership with the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) to provide members with a valid means of identification encompassed into a debit card.

The prepaid debit ID card is to be an operational business tool. It has an array of value added services such as discount for flights, hotels, vehicles and equipment purchases, Visa assistance among others.

Speaking at the launch of the payment solution yesterday, the Managing Director and Chief Executive Officer, Unity Bank, Mrs. Tomi Somefun said: “This is a very important venture to us at Unity bank. This venture would be one that would take all parties and stakeholders to greater heights and would be

for the ultimate benefit of all the members.�

On his part, the Executive Director, Business Development and Development, of the bank, Mr. Usman Abdulqadir said: “Unity Bank has always been at the forefront in providing simple banking services to communities especially the rural areas. “Over time, we have seen a graduation of that engagement to agricultural industries, and essentially small and scale medium enterprises across the country so this is just one of such engagements that we pride ourselves.�

He further added: “NACCIMA and Unity Bank share a desire for development and I think Unity bank from what we have shared with NACCIMA, I believe they have found an ideal partner.�

Speaking on the partnership, the National President, NACCIMA, Mrs. Iyalode Alaba

Lawson said: “This partnership with Unity Bank is to provide a safe, secure and universal business tool for financial transactions anywhere around the world also to provide a new unique and means of identification for all NACIMA members. “Some unique features on the branded unique prepaid card would be the presence of the name of card holder and logo of NACCIMA as well as the name and picture of the card holder hence making it an ideal identification and transaction instrument for NACIMMA members wherever they are all over the world. “The second phase would involve the inclusion of value added service for card holder such as discounted fight tickets, hotels rates for rooms, equipment purchase, vehicle purchase, Visa assistance and general travels amongst many others.�

Zenith Bank FetesYouths, Children Peter Uzoho Zenith Bank Plc recently marked the 13th edition of the annual Zenith Bank Christmas Youth Parade (ZCYP).

The event tagged: ‘It’s Digital!

It’s My Future,’ was a corporate social responsibility (CSR) initiative of the bank aimed at supporting the development and education in Nigeria.

Participants were drawn from select schools, alternative care homes and family-like care centers within Lagos State who came to take part in the road carnival on the street housing the tier one bank.

The event which lasted till noon had entertainers such as

Falz De Bhald Guy, Mayorkun, Kaffy, and the magical Mr. Robinson, performing.

Award of different categories were presented to some of the participants for their excellent performances.

Declaring the event open, the Group Managing Director/Chief Executive Officer of Zenith Bank Plc, Mr. Peter Amangbo, said it was designed to occupy Nigerian youths meaningfully during the yuletide season through funfair and youth development activities.

Amangbo said: “It is also a forum established to create partnership that will engender a common course and vision.

With the theme: ‘It’s Digital, It’s My Future’, this year’s parade

aims to bring to fore the pivotal position youths occupy in the digital age. “Over the years, the parade has succeeded in creating a platform for children from diverse cultural, religious and ethnic backgrounds to meet, interact and have fun. Through the various entertaining games and activities, the children are exposed to various cultural norms of the country.�

Also speaking, the Deputy Managing Director, Zenith Bank, Mr. Ebenezer Onyeagwu, said the essence of the parade was to express love and give the children a sense of belonging and a sense of hope.

Union BankTrains 400 Youths in Delta Community Union Bank of Nigeria Plc recently completed an 8-month mentorship scheme for youths in Igbodo community of Delta State.This exercise was part of the bank’s corporate social responsibility (CSR) initiatives.

Four hundred youths from the community benefited from the intensive programme, which was tagged We Lead Mentorship Programme (WLMP).

It focused on training and

grooming the young people over the eight-month period, encouraging them to shun the appeal of illegal migration and instead, channel their talent and focus towards selfdevelopment and leadership.

The WLMP programme was implemented by Union Bank in partnership with Rural Development and Reformation Foundation (RUDERF) and the Igbodo

Development Union (IDU), as a community-based mentorship scheme that train local mentors and facilitators and deployed them to tutor community youths working closely with the RUDERF team.

The main aim of the scheme was to curb various societal issues ranging from illegal migration to violence, extremism and other vices.

L-R: Managing Director, Lotus Financial Services Limited, Mrs. Hajara Adeola; Director General, Debt Management Office (DMO), Mrs. Patience Oniha; Deputy Managing Director, FBN Merchant Bank Limited, Mr. TaiwoOkeowoandHead,MarketDevelopmentDepartment,DMO,Mr.MondayUsiade,duringthemedialaunch

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

MARCH 2018 Broad Money (M2)

24,303,049.86

-- Narrow Money (M1)

10,912,604.10

---- Currency Outside Banks

1,668,378.21

---- Demand Deposits

9,244,225.90

-- Quasi Money

13,390,445.76

Net Foreign Assets (NFA)

15,619,134.18

Net Domestic Assets(NDA)

8,683,915.68

-- Net Domestic Credit (NDC)

26,267,136.53

---- Credit to Government (Net)

3,823,345.45

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

5,433,209.43

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

-1,609,863.98

---- Credit to Private Sector (CPS)

22,443,791.08

--Other Assets Net

-17,583,220.85

Reserve Money (Base Money)

6,746,646.49

--Currency in Circulation

1,668,378.21

--Banks Reserves

4,357,551.58 Ëž Ă™Ă&#x;ĂœĂ?Ă? Ě‹

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

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

OPEC DAILY BASKET PRICE AS AT MONDAY, 10 DECEMBER 2018

The price of OPEC basket of ďŹ fteen crudes stood at $59.72 a barrel on Monday, compared with $59.20 the previous Friday, according to OPEC Secretariat calculations.

The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), ZaďŹ ro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

SOURCE: OPEC headquarters, Vienna

39

W E D N E S DAY ˾ DECEMBER 12, 2018

MARKET NEWS

Market Rebounds on Bargain Hunting in Bellwether Stocks Goddy Egene The Nigerian equities market rebounded yesterday after opening for the week on a negative note the previous day.

The Nigerian Stock Exchange (NSE) All-Share Index (ASI) had shed 0.82 per cent on Monday.

However, bargaining hunting in bellwethers led to a recovery in the market yesterday with the index appreciating by 0.34 per cent to close at 32,718.72.

Also, market capitalisation added N43.9 billion to close at 11.2 trillion.

The bulls were in full control as 23 stocks appreciated compared with 16 that depreciated.

Also, value of and volume of transactions increased by 104 per cent and 30.9 per cent to N3.397 billion and 215.381 million shares, from N1.666 billion to 164.582 million shares respectively.

In terms of value, the most

P R I C E S MAIN BOARD

F O R

DEALS

active stocks were Zenith Bank Plc (N1.3 billion), Nestle Nigeria Plc (N640.1 million) and Dangote Cement Plc (N287.3 million) while Zenith Bank (58.3 million shares), Sterling Bank (35.1 million shares) and FBN Holdings Plc (25.6 million shares) were the top traded stocks by volume.

The price gainers’ chart was led by Veritas Kapital Assurance Plc with 9.5 per cent, trailed by Law Union

S E C U R I T I E S

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

& Rock Insurance Plc with 8.5 per cent. UAC of Nigeria Plc chalked up 6.4 per cent.

The conglomerate last week announced the retirement of its group chief executive officer, Mr. Abdul Bello effective January 1, 2019.

According to the board of the company, the Executive Director, Corporate Services of the company, Mrs. Omolara Elemide, has been appointed as acting GCEO with effect

T R A D E D MAIN BOARD

A S

from January 1, 2019.

Although no reason was given for Bello’s retirement, Chairman of the UACN, Mr. Dan Agbor thanked him for his dedicated service to the company and wished him the very best in his future endeavours.

Wema Bank Plc was among the top price gainers, garnering 5.5 per cent, just as Cadbury Nigeria Plc went up 5.2 per cent. Flour Mills of Nigeria

O F

Plc gained 5.0 per cent.

The flour milling firm 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 proceeds of both issuances were used entirely to refinance existing debt obligations of the company and streamline its maturity profile.

1 1 / 1 2 / 2 0 1 8 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

˾ WEDNESDAY, DECEMBER 12, 2018

40

Wednesday, December 12, 2018

THISDAY AFRINVEST 40 INDEX

ThisDay Afrinvest Index inches up 0.04% Yesterday, the ThisDay Afrinvest 40 Index was higher by 0.04%

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

to close at 1289.12 points. The index performance was bolstered

by ZENITH

(-2.1%), NIGERIAN

BREWERIES

(-0.4%)

Ticker

and

DANGCEM (-ϰ͘ϭйͿ ǁŚŝĐŚ ĐƵŵƵůĂƟǀĞůLJ ĂĐĐŽƵŶƚ ĨŽƌ Ϯϲ͘ϰй ŽĨ ƚŚĞ ŝŶĚĞdž ŝŶ ǁĞŝŐŚƟŶŐ͘

Current Price

THISDAY AFRINVEST 40 1,289.12

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

ROA

P/E

P/BV

Divinden Earnings d Yield Yield

-16.4%

28.9%

20.8%

7.4%

5.9x

0.7x

6.7%

1

Guaranty Trust Bank PLC

34.40

-1.0%

21.6%

-15.6%

-15.2%

34.1%

5.6%

5.1x

1.9x

7.8%

19.5%

2

Zenith Bank PLC

23.15

0.4%

14.1%

-9.7%

-10.7%

23.7%

3.4%

4.0x

0.9x

12.0%

25.2% 3.8%

3

Nigerian Brew eries PLC

ŽŵĞƐƟĐ ƵLJŝŶŐ /ŶƚĞƌĞƐƚ ZĞƐƵƌĨĂĐĞƐ ƚŽ ŽŽƐƚ ŽŵĞƐƟĐ ŽƵƌƐĞ

4

Nestle Nigeria PLC

Performance͙ ASI Up 34bps

5

Dangote Cement PLC

0.04%

ROE

12.5%

78.50

0.6%

6.3%

-41.8%

-41.9%

13.8%

6.4%

26.3x

3.7x

4.7%

1,485.00

0.0%

9.2%

-4.6%

-4.6%

85.8%

26.3%

26.8x

20.9x

3.2%

3.7%

185.50

0.7%

6.0%

-19.3%

-19.3%

20.1%

9.8%

19.3x

4.1x

5.7%

5.2%

5.6%

-14.8%

-14.7%

6.6%

0.8%

5.4x

0.4x

3.3%

18.6%

6

FBN Holdings Plc

7.50

-0.7%

dŽĚĂLJ͕ ƚŚĞ ĞƋƵŝƟĞƐ ŵĂƌŬĞƚ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ƐůŝŐŚƚůLJ ƉŽƐŝƟǀĞ͕

7

Access Bank PLC

7.50

-0.7%

3.9%

-28.2%

-29.2%

14.1%

1.7%

3.1x

0.5x

8.6%

32.1%

recouping some of the losses from the previous trading session

8

United Bank for Africa PLC

7.80

2.0%

4.0%

-24.3%

-25.1%

15.4%

1.8%

3.5x

0.6x

11.2%

28.3%

3.0%

38.2% 14.7%

9

Ecobank Transnational Inc

10

SEPLAT Petroleum Development C

(+3.3%) and UBA (+2.0%). The All Share Index ;͞ASI͟Ϳ advanced

11

Stanbic IBTC Holdings PLC

46.00

Ϭ͘ϯй ƚŽ ƐĞƩůĞ Ăƚ ϯϮ͕ϳϭϴ ƉŽŝŶƚƐ ǁŚŝůĞ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ŐƌĞǁ

12

Unilever Nigeria PLC

38.90

13

Guinness Nigeria PLC

73.00

0.0%

14

Lafarge Africa PLC

12.50

1.6%

0.5%

15

Fidelity Bank PLC

1.90

0.0%

1.2%

16

Oando PLC

4.95

-1.0%

1.3%

due to modest gains in DANGCEM (+0.7%), DANGSUGAR

by N43.9bn to N11.2tn as YTD loss improved to -19.7%. &ƵƌƚŚĞƌŵŽƌĞ͕ ĂĐƟǀŝƚLJ ůĞǀĞů ƐƚƌĞŶŐƚŚĞŶĞĚ ĂƐ ǀĂůƵĞ ĂŶĚ ǀŽůƵŵĞ traded advanced by 104.0% and 30.9% to N3.4bn and 215.4m

15.50

0.0%

3.6%

-8.8%

-4.7%

12.1%

1.0%

4.9x

0.6x

598.90

0.0%

3.5%

-2.0%

-4.4%

25.9%

15.3%

2.6x

0.6x

0.0%

3.9%

10.8%

12.5%

35.7%

4.6%

6.8x

2.2x

2.2%

0.0%

2.9%

-5.1%

-3.3%

24.7%

11.5%

18.1x

2.7x

1.3%

5.5%

2.1%

-22.3%

-22.3%

8.8%

5.0%

19.6x

1.8x

2.5%

5.1%

-72.2%

-72.2%

-53.7%

-7.9%

0.8x

12.0%

-51.9%

-22.8%

-26.4%

11.3%

1.5%

2.5x

0.3x

5.8%

-17.4%

-17.4%

10.9%

1.7%

4.1x

0.3x

20.6%

40.4% 24.3%

17

Dangote Sugar Refinery PLC

13.95

3.3%

1.0%

-30.3%

-31.5%

32.6%

16.4%

5.6x

1.6x

12.7%

18.0%

ƵŶŝƚƐ ƌĞƐƉĞĐƟǀĞůLJ͘ /Ŷ ƚĞƌŵƐ ŽĨ ǀĂůƵĞ͕ ƚŚĞ ŵŽƐƚ ĂĐƟǀĞ ƐƚŽĐŬƐ ĨŽƌ

18

Okomu Oil Palm PLC

73.00

0.0%

1.4%

7.8%

7.8%

39.3%

29.7%

7.0x

2.4x

4.1%

14.4%

the day were ZENITH (N1.3bn), NESTLE ;EϲϰϬ͘ϭŵͿ ĂŶĚ

19

International Brew eries 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

21.00

5.0%

0.6%

-27.6%

-27.6%

7.6%

2.3%

7.2x

0.6x

4.8%

13.9% 18.4%

DANGCEM (N287.3m) while ZENITH (58.3m units), STERLING

3.2%

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%

(35.1m units) and FBNH ;Ϯϱ͘ϲŵ ƵŶŝƚƐͿ ǁĞƌĞ ƚŚĞ ƚŽƉ ƚƌĂĚĞĚ

22

UAC of Nigeria PLC

9.90

6.5%

0.4%

-41.4%

-41.4%

0.4%

0.2%

77.9x

0.4x

6.9%

ƐƚŽĐŬƐ ďLJ ǀŽůƵŵĞ͘

23

Diamond Bank PLC

0.95

-7.8%

0.4%

-36.7%

-39.5%

-5.8%

-0.7%

-13.9%

-13.9%

34.6%

7.5%

6.9x

2.2x

8.6%

14.5%

-5.1%

6.7%

1.0%

2.0x

0.2x

6.7%

51.2%

5.0%

18.7%

24

Total Nigeria PLC

25

FCMB Group Plc

198.00

0.0%

0.5%

1.50

0.0%

0.6%

0.1x

1.3% -73.9%

26

11 PLC

160.00

0.0%

0.5%

-17.8%

-17.8%

38.0%

16.8%

5.3x

1.8x

27

Forte Oil PLC

20.00

4.4%

0.3%

-54.0%

-52.4%

84.6%

8.3%

8.2x

1.5x

WĞƌĨŽƌŵĂŶĐĞ ĂĐƌŽƐƐ ƐĞĐƚŽƌƐ ǁĂƐ ŵŝdžĞĚ ǁŝƚŚ Ă ƉŽƐŝƟǀĞ ďŝĂƐ ĂƐ ϯ

28

PZ Cussons Nigeria PLC

11.50

4.5%

0.3%

-44.2%

-45.6%

1.1x

1.3%

out of 5 sectors under our coverage advanced. The Industrial

29

Cadbury Nigeria PLC

9.95

5.3%

0.3%

-36.5%

-36.2%

4.7%

1.9%

34.7x

1.6x

1.6%

2.9%

30

Presco PLC

62.15

0.0%

0.4%

-9.3%

-9.3%

37.0%

24.8%

2.5x

0.8x

3.2%

40.7%

31

NASCON Allied Industries PLC

17.90

0.0%

0.4%

-3.2%

-6.9%

47.0%

17.5%

9.3x

4.2x

8.4%

10.7%

32

UPDC Real Estate Investment Tr

8.10

0.0%

0.3%

-19.0%

-19.0%

0.7x

6.8%

Mixed Sector Performance

Goods index advanced the most by 0.7% - a rebound from yesterday͛Ɛ ŶĞŐĂƟǀĞ ƉĞƌĨŽƌŵĂŶĐĞ – ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ŐĂŝŶƐ ŝŶ DANGCEM (+0.7%) and WAPCO ;нϭ͘ϲйͿ͘ ůƐŽ͕ ƚŚĞ ŽŶƐƵŵĞƌ 'ŽŽĚƐ ŝŶĚĞdž ƚƌĂŝůĞĚ͕ ĂĚǀĂŶĐŝŶŐ ďLJ Ϭ͘ϲй͕ ďŽůƐƚĞƌĞĚ ďLJ ƉƌŝĐĞ

33

Union Bank of Nigeria PLC

5.35

0.0%

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

4.7x

35

Sterling Bank PLC

1.80

3.4%

0.5%

66.7%

59.3%

10.6%

1.1%

ĂƉƉƌĞĐŝĂƟŽŶ ŝŶ DANGSUGAR (+3.3%), NIGERIAN BREWERIES

36

Dangote Flour Mills Plc

6.35

0.8%

0.2%

-47.7%

-47.7%

0.0%

0.0%

;нϬ͘ϲйͿ ĂŶĚ FLOURMIL (+5.0%) while the Oil & Gas index

37

GlaxoSmithKline Consumer Niger

14.50

0.0%

0.2%

-32.9%

-32.9%

12.1%

7.2%

38

Chemical and Allied Products P

31.50

0.0%

0.2%

-7.4%

-11.8%

66.2%

30.2%

39

Beta Glass PLC

68.30

0.0%

0.2%

33.1%

33.1%

17.7%

40

Transcorp Hotels Plc

6.10

0.0%

0.1%

-15.4%

-15.4%

6.9%

improved marginally by 0.1% following gains in FORTE OIL ;нϰ͘ϰйͿ͘ ,ŽǁĞǀĞƌ͕ ƚŚĞ ĂŶŬŝŶŐ ĂŶĚ /ŶƐƵƌĂŶĐĞ ŝŶĚŝĐĞƐ ĞdžƚĞŶĚĞĚ ƚŚĞŝƌ ůŽƐŝŶŐ ƐƚƌĞĂŬ ďLJ -0.1% and -Ϭ͘ϰй ƌĞƐƉĞĐƟǀĞůLJ ĂƐ ůŽƐƐĞƐ ŝŶ

GUARANTY (-1.0%), DIAMONDBNK (-7.8%), NEM (-4.3%) and PRESTIGE (-8.5%) weighed on the indices.

/ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ ^ƚƌĞŶŐƚŚĞŶƐ /ŶǀĞƐƚŽƌƐ ƐĞŶƟŵĞŶƚ ŵŽǀĞĚ ŝŶ ƚĂŶĚĞŵ ǁŝƚŚ ƚŽĚĂLJ͛Ɛ ŵĂƌŬĞƚ ƉĞƌĨŽƌŵĂŶĐĞ ĂƐ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ ;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ ŵŽƌĞ ƚŚĂŶ ĚŽƵďůĞĚ͕ ŝŵƉƌŽǀŝŶŐ ƚŽ ϭ͘ϰdž ĨƌŽŵ Ϭ͘ϲdž ƌĞĐŽƌĚĞĚ LJĞƐƚĞƌĚĂLJ ǁŝƚŚ ϮϮ ƐƚŽĐŬƐ ĂĚǀĂŶĐŝŶŐ ĂŐĂŝŶƐƚ ϭϲ ƚŚĂƚ ĚĞĐůŝŶĞĚ͘ LAWUNION

T o p 10 G a i n e r s T ic k er

ƉĞƌĨŽƌŵŝŶŐ ƐƚŽĐŬƐ ĨŽƌ ƚŚĞ ĚĂLJ ǁŚŝůĞ CILEASIN (-9.8%), PRESTIGE (-8.5%) and DIAMONDBNK (-7.8%) led the laggards. In subsequent trading sessions, we expect a furtherance of today͛s ƉŽƐŝƟǀĞ ƉĞƌĨŽƌŵĂŶĐĞ͕ ŚŽǁĞǀĞƌ͕ ǁĞ ĞŶǀŝƐĂŐĞ ƚŚĂƚ ƚŚŝƐ ǁŝůů ďĞ short-ůŝǀĞĚ ĂƐ ǁĞ ŵĂŝŶƚĂŝŶ ŽƵƌ ŽǀĞƌĂůů ďĞĂƌŝƐŚ ŽƵƚůŽŽŬ ĨŽƌ ƚŚĞ

ŵĂƌŬĞƚ͘

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

10.3% 4.8%

17.2% 21.1%

0.5x

1.1%

0.8x

3.1%

11.6x

2.0x

54.2%

14.7x

9.8x

6.5%

6.8%

11.5%

8.3x

1.4x

1.6%

12.0%

3.8%

11.9x

0.8x

2.0%

8.4%

P ric e

P ric e C hg %

VER IT A SKA P

0.23

9.5%

LA WUN ION

0.51

8.5%

UA C N

9.90

6.5%

T ic k er

Vo lum e

P ric e C hg %

Z EN IT H B A N K

58.3

0.4%

ST ER LN B A N K

35.1

3.4%

FB NH

25.6

-0.7%

WEM A B A N K

0.57

5.6%

D IA M ON D B N K

17.1

-7.8%

C A D B UR Y

9.95

5.3%

F ID ELIT YB K

11.2

0.0%

R EGA LIN S

0.21

5.0%

FCM B

9.1

0.0%

J A P A ULOIL

0.21

5.0%

UB A

7.7

2.0%

F LOUR M ILL

21.00

5.0%

GUA R A N T Y

7.1

-1.0%

PZ

11.50

4.5%

FO

7.0

4.4%

FO

20.00

4.4%

T R A N SC OR P

3.9

0.9%

T ic k er

8.6%

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

T o p 10 L o s e r s

(+8.5%), UACN ;нϲ͘ϱйͿ͕ WEMA ;нϱ͘ϲйͿ ǁĞƌĞ ƚŚĞ ďĞƐƚ

12.2%

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 %

C ILEA SIN G

1.75

-9.8%

P R EST IGE

0.43

-8.5%

D IA M ON D B N K

0.95

-7.8%

A B CTRA NS

0.25

-7.4%

M B EN EF IT

0.20

-4.8%

T ic k er

Value

Z EN IT H B A N K

1346.3

P ric e C hg % 0.4%

N EST LE

640.2

0.0%

D A N GC EM

287.3

0.7%

GUA R A N T Y

244.2

-1.0%

FB NH

191.9

-0.7%

ST A N B IC

169.0

0.0%

FO

139.5

4.4%

N EM

2.25

-4.3%

UN ION D A C

0.24

-4.0%

LA SA C O

0.28

-3.4%

ST ER LN B A N K

63.2

3.4%

CCNN

16.00

-3.0%

UB A

58.7

2.0%

A IIC O

0.65

-3.0%

ET I

46.1

0.0%

Investment Research

Brokerage Ayodeji Ebo | aebo@afrinvest.com

Robert Omotunde |

Bolaji Fajenyo | bfajenyo@afrinvest.com

Jolomi Odonghanro | jodonghanro@afrinvest.com

romotunde@afrinvest.com

T H I S D AY Ëž Ëœ ÍšÍşËœ ͺ͸͚͜

41

MARKET NEWS

Global Legal Entity Identifier Foundation Accredits CSCS for LOU Services Goddy Egene Global Legal Entity Identifier Foundation (GLEIF) has accredited the Central Securities Clearing System (CSCS) Plc to perform all Local Operating Unit (LOU) services in Nigeria.

Established by the Financial Stability Board in June 2014, GLEIF is a not-for-profit organisation created to support the implementation and use of the Legal Entity Identifier (LEI). GLEIF is headquartered in Basel, Switzerland. GLEIF

services ensure the operational integrity of the Global LEI System.

The Legal Entity Identifier (LEI) is a 20-digit, alphanumeric code that connects to key reference information that enables clear and unique identification of companies participating in global financial markets.

As part of efforts to spread LEI system, CSCS has been accredited to perform all LOU services in Nigeria after an inspection visit by a team of

A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager.

Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return.

An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the

GLEIF representatives.

In letter conveying the accreditation to CSCS, the Chief Executive Officer of GLEIF, Stephan Wolf, said: “Please be advised that CSCS Nigeria is being granted authorisation to perform all LOU services as defined in the Master Agreement and its Appendices. As previously stated, please be assured that the entire GLEIF organisation is here to assist and support your efforts and bringing continuous improvement to the entire

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 1012-2018, unless otherwise stated.

GLEIS system by facilitating a dedication to “best of breed� practices and methodologies in service and operations.�

Commenting on the development, the Managing Director/Chief Executive Officer of CSCS, Mr. Haruna Jalo-Waziri said: “We are delighted at this accreditation by GLEIF. CSCS is the only entity in Nigeria that can perform this function. The LEI would enable firms to strengthen the accuracy, integrity, and aggregation of data across

entities and subsidiaries and thus improve counterparty risk data and management, as well as supporting enhanced data modeling and analysis.�

According to him, LEI system will allow precise and accurate regulatory reporting, as well as support the production of data for recovery and resolution planning. “This will inherently lead to operational efficiency that would allow for easy reconciliation of data. I encourage all business entities and organizations to acquire the

LEI code or apply to CSCS for renewal if they have already registered,� Jalo-waziri said.

According to the company, owing to its effectiveness in other jurisdictions, the LEI code is a mandatory global requirement that enables market operators to perform capital market functions, this will further deepen the Nigerian capital market and provide veritable identification of organisations, therefore compliance with this requirement.

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 158.40 159.79 -10.66% Afrinvest Plutus Fund 100.00 100.00 11.00% Nigeria International Debt Fund 274.73 276.38 18.87% ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund 0.83 0.84 0.84% ACAP Income Funds 0.63 0.63 6.96% 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 -3.77% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund N/A N/A N/A ARM Discovery Fund N/A N/A N/A ARM Ethical Fund N/A N/A N/A ARM Money Market Fund N/A N/A N/A AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund 130.13 131.04 -14.22% AXA Mansard Money Market Fund 1.00 1.00 12.15% 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 11.75 3.34% Women's Investment Fund 100.84 103.43 0.21% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 12.50% Cordros Milestone Fund 2023 94.55 94.72 Cordros Milestone Fund 2028 98.17 98.54 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 10.53% EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A 100.00 100.00 11.87% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 11.44% 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 1,171.42 1,172.18 11.63% FBN Heritage Fund 140.14 141.32 0.47% FBN Money Market Fund 100.00 100.00 12.75% FBN Nigeria Eurobond (USD) Fund - Institutional $112.67 $113.21 3.43% FBN Nigeria Eurobond (USD) Fund - Retail $112.39 $112.93 3.28% FBN Nigeria Smart Beta Equity Fund 144.30 146.34 -9.07% 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 11.53% Legacy USD Bond Fund 1.02 1.02 2.48% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Growth Fund 2,946.64 2,975.40 -1.31% Coral Income Fund 2,743.17 2,743.17 12.05% 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 12.39% Nigeria Entertainment Fund 106.19 106.57 5.77% 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 12.17%

Vantage Balanced Fund 2.14 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 1.20 1.22 4.29% Lotus Halal Fixed Income Fund 1,091.83 1,091.83 13.02% 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 11.03 11.13 -14.68% Meristem Money Market Fund 10.00 10.00 11.44% 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 11.79% PACAM Fixed Income Fund 12.14 12.20 9.97% PACAM Money Market Fund 10.00 10.00 11.38% 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 127.66 128.08 -1.58% 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 14.13% 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 2,296.28 2,311.00 4.50% Stanbic IBTC Bond Fund 188.23 188.23 8.09% Stanbic IBTC Ethical Fund 0.94 0.95 -6.44% Stanbic IBTC Guaranteed Investment Fund 245.77 245.81 13.87% Stanbic IBTC Iman Fund 158.75 160.56 -11.35% Stanbic IBTC Money Market Fund 100.00 100.00 11.94% Stanbic IBTC Nigerian Equity Fund 8,363.80 8,465.32 -12.03% Stanbic IBTC Dollar Fund (USD) 1.10 1.10 6.94% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.17 1.18 -1.34% United Capital Bond Fund 1.58 1.58 10.39% United Capital Equity Fund 0.70 0.71 -7.90% United Capital Money Market Fund 1.00 1.00 12.65% United Capital Eurobond Fund 106.76 106.76 6.67% United Capital Wealth for Women Fund 1.08 1.08 3.73% 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 11.06 11.22 -7.93% Zenith Ethical Fund 12.12 12.23 -5.44% Zenith Income Fund 20.64 20.64 11.87% Zenith Money Market Fund 1.00 1.00 12.25%

REITS NAV Per Share

Yield / T-Rtn

9.00 139.56 51.67

-20.11% 5.36% 1.65%

Bid Price

Offer Price

Yield / T-Rtn

10.18 114.50 87.12

10.28 116.93 88.75

-13.99% -19.84% -20.25%

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

3.98 7.19 14.42 12.06 141.09

4.02 7.27 14.52 12.26 143.09

-15.87% -24.81% -17.34% -38.51% 5.03%

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 manager’s website and FMAN’s website at www.fman.com.ng. Fund prices are supplied by the operator of the relevant fund and are published for information purposes only.

42

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ADVERTORIAL

THISDAYt WEDNESDAY DECEMBER 12, 2018

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THISDAYt WEDNESDAY DECEMBER 12, 2018

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WEDNESDAY DECEMBER 12, 2018 ˾ T H I S D AY

INTERNATIONAL

May Tours Europe to Save Brexit Deal Embattled British Prime Minister Theresa May faced sympathy but firm refusals on a desperate tour of European capitals on Tuesday, with EU leaders ruling out any renegotiation of the Brexit deal.

A day after she postponed a crucial vote on the deal in the British parliament, May said she was meeting EU counterparts in an attempt to receive “reassurances”.

May had breakfast with Dutch Prime Minister Mark Rutte in The Hague before heading to Berlin for lunch with Chancellor Angela Merkel and then travelled on to Brussels.

After meeting May, Merkel told lawmakers of her CDU/ CSU bloc that she saw “no way to change” the agreement, said sources at the MPs’ meeting.

May faced criticism from all sides in parliament over provisions in the EU withdrawal agreement concerning Northern Ireland, which she hopes could persuade her rebellious Conservative party to support

it.

European Commission chief Jean-Claude Juncker said ahead of meeting May that he was “surprised” at being asked for more talks since EU leaders had given their approval to the deal at an extraordinary summit on November 25.

“The deal we have achieved is the best deal possible, it’s the only deal possible,” he told the European Parliament in Strasbourg.

“There is no room whatsoever for renegotiation but of course there is room if used intelligently, to give further clarification and further interpretations.”

MPs in the House of Commons were due to vote on the deal on Tuesday night, but May deferred it on Monday, admitting she expected to lose by a “significant margin”.

Her spokesman on Tuesday said the vote would be rescheduled before January 21 — just months before Britain leaves the EU on March 29.

Opposition Labour leader Jeremy Corbyn is now facing

India’s Modi Concedes Defeat in Key State Elections Indian Prime Minister Narendra Modi conceded defeat on Tuesday for his ruling Bharatiya Janata Party (BJP) in key state elections held ahead of national polls next year.

“We accept the people’s mandate with humility. I thank

the people of Chhattisgarh, Madhya Pradesh and Rajasthan for giving us the opportunity to serve these states. The BJP Governments in these states worked tirelessly for the welfare of the people,” Modi said on Twitter.

Trump Threatens to Shut down US Government An angry Donald Trump told Democratic leaders at the White House on Tuesday that he will shut down the US government because they refuse to approve billions of dollars in funding for his controversial Mexico border wall.

The president and top opposition congressional leaders had been meant to hold a reassuring Oval Office photo-op. Instead, their blazing row in front of the world’s media gave a glimpse of the dire challenges confronting Trump as he reels from legal scandals and the new reality of his Republican party no longer controlling Congress.

Chuck Schumer, the senior Democrat in the still Republicandominated Senate, and Nancy Pelosi, who is likely to become speaker in the newly Democratcontrolled House in January, bluntly told Trump that he had no chance of getting the $5 billion he wants for the wall.

Exasperated, Trump doubled down on earlier threats to retaliate by refusing to sign a federal spending bill required by December 21 to avoid leaving swaths of the government without funding.

“Yes, if we don’t get what we want one way or the other…, I will shut down the government,” he said. “I am proud to shut down the government for border security.”

Schumer argued that “one thing that I think we can agree on is we shouldn’t shut down the government over a dispute.”

And Pelosi suggested that the debate shouldn’t take place in front

of journalists.

But Trump, whose US-Mexico wall idea was at the center of his surprise 2016 election, could not control his irritation.

Taking out two memo cards, he read off figures that he said showed a near end to illegal immigration at portions of the border already featuring high fences.

“It’s been very effective,” he said.

Pelosi parried that the statistics were incorrect.

“What the president is representing (with) his cards over there, are not facts. We have to have an evidence-based conversation about what does work and what money has been spent and how effective it is,” Pelosi said.

Outside the White House afterwards, Schumer was even more scathing about Trump.

“This temper tantrum that he seems to throw will not get him his wall and it will hurt a lot of people,” he said.

Tweeting ahead of the White House meeting, Trump claimed that the wall was needed to prevent “large scale crime and disease” brought by illegal immigrants.

The issue is popular with his political base, which wants radically tighter controls at the southern border, a magnet for impoverished Latin Americans seeking work in the United States.

Opponents say the wall is not only a waste of money but has been used by the president to whip up xenophobia.

calls to table a no-confidence vote in the prime minister, but is holding off as the party believes May is likely to win.

This hesitation has caused tensions with the Scottish National Party (SNP), which

has said it wants Labour to table a no-confidence motion on Tuesday.

Eurosceptic MPs in May’s Conservative party have also repeated calls for her to be replaced, with one warning it

was time to “govern or quit”.

EU President Donald Tusk, who met May in Brussels, has called a meeting of the other 27 EU leaders on Thursday to discuss the latest Brexit developments.

They were already due to attend a European Council summit with May on Thursday and Friday, which the British prime minister is expected to use to further press her case.

President Muhammadu Buhari receiving the New Belgium Ambassador to Nigeria, Dr. Daniel Dargent, during the presentation of his letter of credence at the State House in Abuja...yesterday STATE HOUSE

China Bans iPhone Sales over Apple, Qualcomm Dispute A Chinese court’s preliminary ban on iPhone sales is another step toward a potential settlement of the long legal battle between Apple Inc. and Qualcomm Inc. A decision on Monday by the Fuzhou Intermediate People’s Court made the two-year dispute over complex smartphone patents very real for Apple investors and analysts. The court issued an injunction against the sale of several iPhone models. Apple called it a “desperate move” and said the company intends to fight.

Apple and Qualcomm are fighting over intellectual property covering wireless networks and devices. Apple has accused Qualcomm of illegally charging too

much for licenses. The chipmaker is using other patents that cover some aspects of the way phones work to attack back. It has used the common industry tactic of seeking bans on potentially infringing products to try to force a settlement. Monday’s ruling is the first instance of this approach producing real-world results.

“Apple will eventually have to come to the negotiating table with Qualcomm,” said Timothy Lesko, a fund manager at Granite Investment Advisors.

In addition to the Chinese case, Qualcomm has filed complaints against Apple in Munich and Mannheim, Germany, and lodged another one with the U.S. International Trade Commission

in Washington. All three venues offer it the chance, if successful, to shut down or limit the sale of the iPhone, a product that generates the majority of Apple’s revenue.

While injunctions produce dramatic headlines and often force companies to take a more constructive approach to negotiations, they’ve seldom led to widespread sales bans.

“The threat does get people serious about trying to settle things,” said Paul Berghoff, a patent lawyer with McDonnell Boehnen Hulbert & Berghoff.

Whether it will work “depends on how much pain this inflicts on Apple.”

In December 2011, Motorola Mobility won a court ruling in

Germany banning several iPhone and iPad models from being sold in the region. This went into effect in February 2012, and Apple pulled the devices from its online store there. But the company got the injunction suspended soon after and won ongoing protection from the original ruling.

Courts in Germany have so far declined take the same drastic action as the Fuzhou Intermediate People’s Court. In the U.S., a trade judge recommended against an import ban on Apple, even if the iPhone maker is found to infringe Qualcomm patents.

Indeed, Monday’s decision in China excludes the latest iPhones, and Apple said its handset are still on sale there.

Human Rights Abuse Major Challenge in West Africa, Says EX-ECOWAS Judge A former Vice President, Economic Community of West African States (ECOWAS) Court of Justice, Justice Micah Wilkins, has said human rights abuse remains a major challenge in West African countries.

Wilkins said this at the Human Rights Fiesta organised by the Citizens Advocacy for Social and Economic Rights (CASER) to mark the 2018 human rights day in Abuja on Tuesday.

According to him, the ECOWAS Court has many mandates but the human rights mandate is the most significant.

“Other aspects of the work that we are doing are not as much as the human rights mandate because 98 per cent of the cases we get involve violation of human rights across West African states.

“So human rights is important and it can never be too much, so we should all stand up for the

rights of our people because today you may be privileged but the table can turn tomorrow we can become victims.

“So we have a duty to protect each other because violation to one is violation to all,” he said.

Wilkins lamented that in many countries, human rights activists are being seen as enemies of government rather than partners in progress.

He urged governments across West Africa to embrace the human rights community and work with it because of its checks and balance role.

He advised governments to learn to listen to criticisms and make correction so that lives of the citizens could be better Mr Frank Tietie, Executive Director, CASER, said the event was organised to mark the 70th anniversary of the modern human rights since the

signing of the universal declaration of human rights in 1948.

Tietie said his organisation had been promoting the rights of children and women as well as press freedom to promote journalists whose rights were always trampled upon in Nigeria.

He said CASER had been campaigning to ensure that in every case where a child is involved; the Child Rights Act is applied ‘’unfortunately that has not been the case.’’

He said this had led to increase in abuses against children.

“So our campaign is that, the Child Rights Act must be given effect at every time a child is affected with regards to any action of adult, rape or any matter.

“Nigeria enacted the Violence Against Persons Act, now effort

must be made to ensure that the law is applicable and enforced,’’ he said.

Tietie said whereas Nigeria has some of the best regimes of human rights laws in the world, application had remained low because there had been ignorance on the part of the citizenry.

He said ignorance had bedeviled the human rights situation in Nigeria therefore making life very nasty.

“We need to increase the consciousness that the citizens will have the proper understanding of what it takes for them to have basic human rights,’’ he said.

Ms Dorothy Njemanze, an actress and human rights activists who just won the Amnesty International Ginetta Sagan Award said child justice is expensive in Nigeria.

48

WEDNESDAY DECEMBER 12, 2018 ˾ T H I S D AY

NEWSEXTRA

APC Primaries: Ambode, Shettima Meet Omisore, Others Hammed Adedeji Lagos State Governor, Mr. Akinwunmi Ambode, and his counterpart in Borno State, Alhaji Kashim Shettima, yesterday met with aggrieved members of the All Progressives Congress (APC) in the Southwest over the outcome of the recent primaries of the party.

The two governors, who are members of the National Peace and Reconciliation Committee set up by the APC to pacify aggrieved party members, specifically met with party bigwigs, including former Deputy Governor of Osun State, Senator Iyiola Omisore; Senior Advocate of Nigeria (SAN), Chief Adeniyi Akintola, among others.

Shettima, who chaired the meeting, held at the Government House in Oyo, Ibadan described Ambode as the politician of the year for displaying uncommon courage and spirit after the party’s primaries in Lagos, saying that his display of sportsmanship would forever remain a reference point for others to learn and emulate.

He said, “Governor Ambode is my own politician of the year and the ultimate peacemaker. We are here essentially to build bridges

of understanding, to reconcile with our aggrieved members and seek ways to make appropriate recommendation to the National Working Committee (NWC) of the party for us to make progress as a family and to make amends where necessary.

“We have a lot to learn from Governor Ambode; he demonstrated courage; he demonstrated an unparalleled generosity of spirit that has never been shown by any Nigerian politician. Many people were spoiling for a fight. I believe that power is from God and believe me, the kind of respect that his actions have generated for him across the nation is much more than spending 18 years in power.”

Speaking to journalists shortly after the closed door meeting, Shettima said the committee would forward its observations and solutions to the NWC of the party for appropriate action, while urging aggrieved aspirants to exercise patience as the party will do everything possible to address their grievances.

“We have finished our assignment here in Oyo, Ekiti and Osun States. We listened to our members and we have noted down their grievances and most importantly the

solutions proffered and we are going to forward those observations and solutions to the National Working Committee of the party for appropriate action and we implore them to exercise patience, to show courage and to emulate my very good brother, Governor Ambode, who is a study in tolerance, accommodation and courage.

“But definitely, the NWC will take far reaching decisions to ensure that we have come on board to achieve our dream

of winning the 2019 elections.

Everyone is important in this movement and we are not going to underrate anyone,” Shettima explained.

Also speaking, Ambode said though it may be tough to permanently heal the wound aggrieved aspirants might be nursing as a result of the fallout of the primaries, he added that it was important for all to move on and truly unite for the party’s victory at all levels come 2019.

According to him, “There is no amount of wound that

can manifest in your hearts as being present here that we can permanently heal. The most important is that we have created a platform for us to be able to start to bond our family – the APC family together.

“We were once one family but yes people who are seated here have one or two reasons to complain but we are peacemakers. What is important is that we must bond together and also carry that crusade of making our party to win the 2019 elections.”

He said when there is life, there is hope, and as such the aggrieved aspirants should understand that there could be better opportunities waiting for them at the end of the day.

“The elections coming next year will not mark the end of our party and so obviously there will be other things that can come out more fruitful than the competitions that you had actually envisaged that you are going to be the winners,” Ambode said.

Emir of Kano Urges Women toVote Gender Sensitive Leaders Ibrahim Shuaibu in Kano Emir of Kano, Muhammadu Sanusi II, yesterday challenged the Nigerian women to vote for leaders whose electoral campaign prioritises promotion of women’s welfare and detest abuse against women in the society.

The Emir made the call at his Palace yesterday during a courtesy call by The Strong Women Network, sequel to the launch of a maiden project in Kano, in an all-female conference with the theme: “Matters Arising to Afresh Womanhood.”

Sanusi also regretted that no aspirant for the 2019 general election has included women

development in his/her campaign; stressing that “it is high time women started to scream out and protest against this development”.

He urged them to work against the interest of any leader who does not represent them well, adding that, “women have suffered for too long in silence, just as the populace has lost sense of the choice of what we want in a leader, especially in Northern Nigeria.”

Sanusi further hailed the group for the launch of a platform where young girls and women can be inspired, while challenging them to ensure that, “it does not end in mentorship but you should work hard to see that at least, a

woman is elected into the state House of Assembly in Kano, so that laws that protect women against violence, especially in marriage, would be enacted and implemented as it is being done in other Muslim countries like Egypt and Algeria.”

Speaking earlier, convener of the group, Yasmin Obadaki, noted that the maiden conference, was put together to address the challenges being faced by women in today’s society, especially in career pursuit, family life, entrepreneurial culture, health, politics and nation building among others.

The conference featured discussions led by high-profile and influential women achievers in the

society, including the first female and current Branch Controller of the Central Bank of Nigeria in Kano State, Hajiya Ameena Pindar Abubakar who spoke on “Women in Leadership”, and a renowned expert obstetrician and gynaecologist, Professor Hadiza Galadanchi, who addressed “The Role of Women in Maternal Mortality.”

All the speakers during the conference stressed the need for women to support one another and contribute to national development by making impacts in their own little way, through their respective works.

They also stressed the importance of girl-child education as the bedrock of societal development.

WEDNESDAY DECEMBER 12, 2018 ˾ T H I S D AY

49

NEWSEXTRA

Electoral Act Amendment Bill: House Suspends Debate on Buhari’s Letter Shola Oyeyipo in Abuja A point of order by the Majority Leader of the House of Representatives, Hon. Femi Gbajabiamila, stopped further debate on the letter conveyed to the National Assembly by President Muhammadu Buhari where he gave reasons for not assenting to the Electoral Act Amendment Bill 2018 for the fourth time.

At the opening of the yesterday’s plenary, the Speaker, Hon. Yakubu Dogara, read the letter on the floor,

sparking spontaneous reactions from Hon. Aliyu Madaki (Kano, PDP), who immediately started making observation about the president’s action.

According to Madaki, “Mr. Speaker, you have just read a very important letter.

What we want is free, fair and credible election. Mr. President refusing to assent to the Electoral Act Amendment Bill shows clearly what he wants to do. The whole world is watching. Everybody is watching” Gbajabiamila however,

interjected by shouting “Point of Order, Mr. Speaker,” and when given the floor, he said: “We have never, by precedence; by custom and tradition; we have never debated a letter, which is by way of information. If there is the need to debate the president’s letter, we will table on the order paper for debate!”

According to him, “Several letters have been written by several presidents before. It never happened. If you want to debate the letter, place it on

Dogara: NNPC, States Face-off, Indication of Leakages Shola Oyeyipo in Abuja revenue.”

Dogara hinted that the report The Speaker of the House of Representatives, Hon. Yakubu expected from the committee Dogara, has described the would guide the House to lingering face-off between the Ministry of Finance, Nigeria National Petroleum Corporation (NNPC), State Governments and revenue generating organs of the federal government as an evidence of the gravity of revenue leakages in the Nigerian economy.

Dogara made the assertion during an investigative hearing organised by the ad-hoc committee set up to investigate the activities of Ministries, Departments, Agencies (MDAs), and other institutions responsible for revenue remittances into the Federation Account and other matters arising in such regard.

Noting that attaining economic growth and development and reviving dwindling oil fortunes cannot be achieved unless all revenue leakages are blocked, Dogara stated that: “You may all recall that the Federation Account Allocation Committee meeting in July was stalemated, two or three times, due to controversies over unremitted revenue. This led to delays in the payment of salaries by the federal and state governments and other budgetary expenditures in most federal government agencies and establishments.

“The continuous faceoff with respect to revenue remittances and figures between the Ministry of Finance and NNPC on one hand as well as State Governments and revenue generating organs of the federal government on the other hand, only show some of the many instances of unending issues of revenue leakages in our economy.

“With the dwindling oil fortunes, and the spirited efforts being made in the country to diversify our economic base, there is no gain saying the fact that closing up leakages in our system has become imperative if we must grow our economy and accelerate the development of the country at this period of economic downturn.

“At this period, when government is making efforts towards diversifying the economy in order to reduce the country’s over-reliance on the oil sector, it is disheartening to hear repeated allegations of nonremittances of huge amounts of revenue by Agencies required generating and managing our

make appropriate resolutions with a view to averting further under-remittances of revenue to the federation account, if any.

the order paper. We are fully ready to debate it.”

Responding, Dogara said:

“We have a provision in our rules that guides this kind of communication and I will

advise that we follow the rules.

So, I think this matter should be laid to rest.”

Dasuki Asks Court to Adjourn Trial Indefinitely Alex Enumah in Abuja Immediate past National Security Adviser, Col. Mohammed Sambo Dasuki (rtd), yesterday asked the Abuja division of the Federal High Court to suspend his trial indefinitely until the federal government obeyed orders of courts of competent jurisdiction, which granted him bail.

Dasuki who made the request in a fresh application to the court yesterday is also challenging the competence of lead prosecution counsel to continue with the trial.

The federal government is prosecuting Dasuki over allegations of illegal possessions of firearms and money laundering. He pleaded not

guilty to the charges and was released on bail but the government has continued to keep him in custody even after perfecting the bail conditions.

The refusal of government to recognise his bail prompted him to boycott his trial.

However, trial judge, Justice Ahmed Mohammed, held that trial would continue in the absence of Dasuki and adjourned to yesterday for definite hearing of the matter.

At the resumed hearing yesterday, Adeola Adedipe, a lawyer in the team of the former NSA informed the court of an application filed challenging the competence of the prosecuting counsel.

The application was bought

pursuant to Sections 1(1) and (2), 104, 105, 106, 159(2), 268, 491 & 492(3) of the Administration of Criminal Justice Act, 2015; and Sections 6(6), 35, 16, 37, 41, 42, 105 & 174 of the 1999 Constitution (as amended).

By the application dated December 10, Dasuki prayed the court for an order to adjourn sine die, his trial and or further trial, pending compliance by the complainant with the court’s judgment (per Hon. Justice Ijeoma Ojukwu] of 2nd July 2018, in suit No. FHC/ABJ/CS/263/2018, between Col. Mohammed Sambo Dasuki (rtd),Vs. Director General, SSS and two others.

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Nigeria Now World Food Basket, Says Osinbajo Shola Oyeyipo in Abuja Vice President, Yemi Osinbajo yesterday, told Nigerian-German investors that Nigeria is now a food basket of the world with huge investment potentials.

Osinbajo made the assertion during a dialogue in Berlin, Germany, adding that the country is also the best destination for serious-minded investors.

Backing his claims with statistical facts, the Nigerian

Vice President said: “Consumer spending in Africa was $1.4 trillion by 2015, with Nigeria, Egypt and South Africa accounting for more than half of that total.

“There is also increasing economic opportunities in Nigeria because of deliberate actions by our government to diversify the economy and improve the business environment.

“It is encouraging that there are significant economic ties between Nigeria and Germany. Germany

Oshiomhole Denies Attacking Buhari’s Wife on Social Media Onyebuchi Ezigbo in Abuja The National Chairman of the All Progressives Congress (APC), Adams Oshiomhole, has denied making uncomplimentary remarks against the person of the First Lady, Hajia Aisha Buhari, on the social media.

In a statement issued yesterday by his Chief Press Secretary, Simon Ebegbulem, the APC chairman described the report credited to him as making uncomplimentary remarks against the person of the First Lady, as “false and mischievous.’’

“Our attention has been drawn to the malicious and misleading statement credited to the National Chairman of the APC, Adams Oshiomhole, against the person of the First Lady Hajia Aisha Buhari, on the social media.

“We want to state that it

is the handiwork of mischief makers. At no forum did the National Chairman made such uncomplimentary remarks against the person of the First Lady,” he said.

The statement said that it is part of the fake news from the pit of hell being propagated by highly unscrupulous elements of the PDP and their cohorts, knowing well that they have lost the forthcoming general elections.

The statement added, “Unfortunately for the PDP, all their efforts to cause disaffection among members of the ruling party have failed. As we speak, both the first lady, the National Chairman of the APC and other leaders of our party enjoy cordial relationship and working in unison to ensure that the PDP looters do not return to power.

is a significant exporter to Nigeria, which is its second largest trading partner in Africa.

“Recent reports show that German investment in Nigeria contributes as much as $1 billion in turnover annually. This is good, but we must agree that there is scope for even deeper collaboration given that Nigeria’s GDP is close to $500bn.”

He said Nigeria now “Produces locally 10 million metric tonnes of paddy rice annually. And we are importing only two percent of our rice consumption now,” noting that “Investments in milling capacity

has risen astronomically since then, with one investor putting a million tonnes of milling capacity into the market.

“Carlos Farms, a Mexican fruit and vegetable investor, had initially planned to grow bananas and pineapples for export; until he discovered that he was making more money selling his bananas locally at $3 dollars a kilogramme, for what he would have been paid only a dollar per kg in Europe.

“With a substantial percentage of the world’s arable land and over half of that uncultivated, it is becoming clearer that the

world will be looking to Africa and Nigeria in particular, as its food basket.

“Just to take China’s demand alone, China has 27 percent of the world’s population, but only 7 percent of the world’s arable land for agriculture. China needs 2 million tonnes of hybrid Soya beans per annum for livestock feed and vegetable oil. But we have not met that demand.”

“We are also diversifying within oil, while adding that Nigeria is already exporting urea since it is producing more than enough for its domestic needs and in the

very near future.

“In the service sector, about 1.8 million international travellers spend two nights on average at Nigeria’s estimated 10,000 hotel rooms yearly.

“This generated about $210 million in revenue for the industry in 2017, which barely reflects on Nigeria’s $500 billion GDP size.

“Nigeria’s hotel industry alone is projected to grow by double digits by 2020, as the sector bounces back post-recession to one of the fastest growing in the world, and the possibilities for investors is significant.”

Buhari Eulogises Swiss Govt for Returning Nigeria’s Looted Funds Shola Oyeyipo in Abuja President Muhammadu Buhari has expressed the gratitude of the federal government to the government and people of Switzerland for the returning stolen Nigerian funds, which he said would help in resuscitating the country’s economy.

Acknowledging the gesture when receiving Letters of Credence from the Ambassador of Switzerland to Nigeria, Mr. George Steiner, at the Presidential Villa, the Senior Special Assistant to President Buhari on Media and Publicity, Mr. Garba Shehu, in a press statement said, President Buhari described the return of the stolen funds and interventions in the crisis in the North-east, as evidence of Swiss

government’s commitment to the development of Nigeria.

“We are grateful to the Swiss government for allowing illegally stolen funds to be brought back to Nigeria,’’ he said.

The president noted that the facilitating roles the Swiss government had been playing in the North East, particularly in reaching out to Internally Displaced Persons (IDPs), had been most helpful, adding that bilateral relations between both countries will continue to be strengthened.

In his response, the Swiss Ambassador said his government would always be disposed to supporting Nigeria in ensuring peace in the country, especially in the North East.

“We have strong and solid

relations with Nigeria. It’s an honour and privilege for us to contribute to issues of importance in the country,’’ he added.

President Buhari, who also received Letters of Credence from the Ambassador of Belgium, Dr. Daniel Dargent, said feasibility studies to revamp the Lake Chad Basin will require a diversion of River Ubangi in the Congo Basin.

The President said the diversion of River Ubangi will improve the livelihood of more than 40 million people who survive on Lake Chad Basin, urging the Belgian government to support the negotiation.

In his remarks, the Ambassador of Belgium said his government will support an initiative that will improve the livelihood of people.

“We are in a global world and we need to start evolving more on issues that directly touch lives, especially in supporting Nigeria which will one day become a Permanent member of the Security Council’’ he said.

While receiving his Letters of Credence, President Buhari congratulated the Ambassador of Hungary, Dr. Sandor Gyorgy Beer, on his posting to Nigeria, urging him to sustain the healthy relations that had existed between both countries for many years.

The Hungarian Ambassador said relations between both countries had been strong over many years, noting that he will work towards improving it, especially on economic issues and sports.

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Kogi Lawmaker Kicks as Speaker Declares Seat Vacant State judiciary workers commence industrial action Yekini Jimoh in Lokoja The Speaker of Kogi State House of Assembly, Hon. Matthew Kolawole, has declared the seat of Hon. Eneche Linus representing Olomaboro constituency vacant for defecting to the Peoples Democratic Party (PDP).

But in a swift reaction, the embattled lawmaker said declaring his seat vacant was an act of recklessness on the part of the state assembly.

This is coming as the state chapter of the Judiciary Staff Union of Nigeria (JUSUN) yesterday declared an indefinite strike over unpaid six months accumulated salary arrears by the state government.

Linus is a former member of the All Progressives Congress (APC) who defected to the PDP and picked the state assembly ticket for second term.

The declaration of his seat vacant followed the adoption of a motion moved yesterday by the assembly Majority Leader, Hon. Bello Hassan Abdullahi, calling on the assembly to declare his seat vacant.

Abdullahi in his motion stated that based on his investigation, which was later transmitted to the assembly by the state Chairman of APC, Alhaji Abdullahi Bello, the

lawmaker contravened section 109-1 subsection G of the 1999 Constitution as amended.

The motion, which was seconded by Hon. Ahmed Mohammed, resulted in heated argument from PDP members in the assembly because the matter wass already in court.

This was however overruled by the Speaker.

However, the motion was put to voice vote and three members voted in favour while two voted against.

Meanwhile, the embattled lawmaker said declaring his seat vacant was an act of recklessness on the part of the assembly.

While speaking with journalists, Eneche described the lawmakers’ action as null and void especially as he had gone to a Lokoja High court seeking interpretation of section 109 to know if the speaker can declare his seat vacant.

According to Eneche, it was wrong for the state APC Chairman to have written the assembly to declare his seat vacant.

Meanwhile, the state chapter of the Judiciary Staff Union of Nigeria (JUSUN) yesterday declared an indefinite strike over unpaid six months accumulated salary arrears by the state government.

The state Chairman of the union, Emmanuel Waniko, in a statement issued yesterday, said the union had to embark on an indefinite strike since the state government had refused to pay them their salaries.

“The leadership of the union

has been battling the state government on compliance with a 2014 federal high court judgment that mandated each state government to respect section 121(3) of the constitution that stipulates the financial independence of state

judiciaries.

“Failure of both Niger and Kogi States governments to comply with the judgment compelled JUSUN to seek a garnishee order which was secured against the two states’ bankers recently,” he stated.

He argued that while the garnishee order was suspected to have been violated by Kogi State Government, the union has declared the strike in reaction to the government’s refusal to release judiciary’s subventions from which salaries are paid.

AWARD WINNERS...

L-R: AAAN President, Mr. Ikechi Odigbo, and Vice President, Mr. Steve Babaeko, presenting an award to the winners of the Young LAIFERS competition student category in Lagos …recently

Nigeria’s Capital Importation APC Loses as Federal Lawmaker Dumps Party Decreases to $2.85bn in Q3, A member of the House of Party (PDP). a couple of their members in for his defection.

He becomes the first elected the past few months to other The lawmaker made this known Representatives, Hon. Ibrahim Says NBS from President parties.

Murtala, representing Musawa/ in a letter read on the floor of official The National Bureau of Statistics (NBS) has revealed that the total value of capital importation into Nigeria reduced to $2.855 billion in the third quarter of 2018.

The NBS disclosed this in its “Nigeria Capital Importation (Q3 2018)’’ report released yesterday in Abuja.

According to the bureau, the figure represents a 48.21 per cent decrease compared to the second quarter and 31.12 per cent decrease compared to the third quarter of 2017.

It said the largest amount

of capital importation by type was received through portfolio investment, which accounted for 60.5 per cent ($1.723 billion) of the total capital importation.

“This was followed by other investment, which accounts for 21.07 per cent ($601.53 million) of the total capital import in the period under review.

“And then Foreign Direct Investment (FDI) accounts for 18.58 per cent ($530.63 million) of the total capital imported in the third quarter.

Mrs Aikulola Passes On The death has been announced of Rt. Hon. Maria Amedu Aikulola, a two-time member of the Benue State House of Assembly and former Chairman of the House Service Committeee and later Chairman, women committee.

During her life time, Mrs Aikulola was fondly referred to as Mama at political grassroot level where she held sway.

She was an accomplished public servant and community leader.

Mama was born on December 25th in Zaria, Kaduna State.

Maria Amedu Aikulola

Mama commenced her public service when she worked as a film editor in Nigeria Television Authority (NTA) in both the Jos and Kaduna stations.

She is survived by four childrenHelen, Anna, Bibi and Felix; and many uncles, aunts, brothers, as well as sister-in-laws, one of whom is Mr. Magnus Onyibe, ex-NTA correspondent and former Commissioner in Delta State.

On Friday November 30, the Benue State House of Assembly held a valedictory session in her honour. The family has announced dates for her final journey to eternity.

On December 13 there will be a service of songs and wake-keep at her residence in Makurdi, while on December 14, there will be a Requiem Mass at Our Lady of Perpetual Help Cathedral, Makurdi by 8.a.m.

Thereafter, the body proceeds to Okpoga, Okpoku Local Govt.

Area for the Funeral Mass at St Bernard Catholic Church , Okpoga before her interment in her house.

May her soul rest in peace.

Matazu federal constituency of Katsina State, has dumped the ruling All Progressives Congress (APC) for the Peoples Democratic

the House by the Speaker, Hon. Yakubu Dogara, during plenary yesterday.

Murtala did not state the reason

Muhammadu Buhari’s homestate of Katsina to dump the ruling party for another party.

The APC and PDP have lost

This cannot be unconnected to the fallout of the recently concluded primary elections held across the country.

Okupe’s Counsel Demands Release of His Client The lawyer to a former presidential spokesman, Dr. Doyin Okupe, Mr. Tolu Babaleye, has urged the Economic and Financial Crimes Commission (EFCC) to release his client.

In a statement issued yesterday, Babaleye alleged that on getting to Idiagbon House of EFCC head office in Abuja, Okupe was served with criminal charge number FHC/ABJ/CR/222/2018 which is a 59 count Charge filed at the Federal High Court on December 6, 2018.

According to the lawyer, Okupe was informed that based on order from above, he would also be detained.

“One would have expected the immediate release of someone who has been served with a Criminal Charge to give him adequate time and facility as provided by the Constitution to defend himself but in this case, the Commission chose to disobey the express wordings of the Constitution and detained our Client.

“Today December 11, 2018, we proceeded to Federal High Court at Abuja with the hope of going to defend our Client only to find out that the Charge has not been assigned to any court and there was no has been fixed for the arraignment of our client.

“We proceeded to the Legal

Unit and met the Director of Legal at the new EFCC Office at Jabi whom we also told about the ugly development. The Director Legal further directed us to operatives after demanding that Okupe who hitherto is on administrative bail granted him over two years ago be allowed to continue to enjoy the said bail,” the statement said.

“It is worthy of note to let you know that the allegations that our clients have been charged with was investigated two years ago and our client was cleared at that time that he had no case to answer, hence he was not charged to any court and on that basis, his travelling document was returned

to him.

“Finally, we call on all wellmeaning Nigerians to allow our Client to have his freedom or be allowed to have his day in court haven’t been served with the allegation against him. The present procedure adopted by filling a charge that has not been assigned to any court and/or listed for hearing and yet our client has been rearrested and detained without knowing the date of his arraignment is an abuse of court process and unconstitutional as our client is still presumed to be innocent until the contrary is proved.

BON Excludes Duke, Sowore, Others from Presidential Debate Nigerian Elections Debate Group (NEDG) and the Broadcasting Organisations of Nigeria (BON) have named five political parties that will participate in the 2019 vice presidential and presidential debates.

According to the statement signed

by Executive Secretary of the NEDG, Eddi Emesiri, the parties are Allied Congress Party of Nigeria (ACPN), Alliance for New Nigeria (ANN),

All Progressives Congress (APC), Peoples Democratic Party (PDP) and Young Progressives Party (YPP).

The implication, it was learnt, is that the presidential aspirants expected at the debate are Atiku Abubakar, Muhammadu Buhari, Oby Ezekwesili, Fela Durotoye and Kingsley Moghalu.

BON and NEDG have excluded Omoyele Sowore of the African

Action Congress; Donald Duke of the Social Democratic Party; Tope Fasua of the Abundant Nigeria Renewal Party (ANRP) and a host of others.

This is in line with global practices, and the American presidential system being practised in Nigeria.

The vice presidential debate will hold from 7p.m at the Congress

Hall of the Transcorp Hilton in Abuja on December 14, 2018.

The presidential debate, on the other hand, will hold just over a month later, on Saturday, January 19, 2019.

The debates are expected to be transmitted live on all BON member stations and its affiliates and across major social media platforms.

AGAIN, SENATE STEPS DOWN CONFIRMATION OF EFCC, ICPC BOARDS NOMINEES Senator Biodun Olujinmi, had while speaking under Orders 42 and 52 drawn the Senate’s attention to recent crisis in Ondo House of Assembly in Akure, the

state capital, where the legislators had been reportedly disallowed from performing their legislative duties by the police.

Deputy Senate President,

Senator Ike Ekweremadu, and some other senators, including Ajayi Borofice (Ondo North), Atai Aidoko (Kogi East) and Gbenga Ashafa (Lagos East) in

their contributions, condemned the alleged police siege on Ondo parliament and submitted that the Senate must act with dexterity over the matter.

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NDIC Joins Islamic Financial Services Board James Emejo in Abuja The Council of the Islamic Financial Services Board (IFSB), headquartered in Kuala Lumpur, Malaysia, has admitted the Nigeria Deposit Insurance Corporation (NDIC) as a full member of the board.

The corporation joins the Central Bank of Nigeria (CBN) as the other Nigerian institution on the board of the IFSB. The approval for the membership of the NDIC was conveyed to the Corporation via mail dated Tuesday, December 6, 2018 which was subsequently posted on the website of the IFSB. The corporation, in a statement by its Head, Communication and Corporate Affairs, Mr. Ibrahim Kudu, noted that decision to admit the NDIC was taken at the 33rd meeting of the IFSB Council, hosted by the Islamic

Development Bank Group (ISDB), on December 6, 2018 in Jeddah, Kingdom of Saudi Arabia.

The Council Meeting was chaired by Dr. Mohammad Y. Al Hashel, the Governor of the Central Bank of Kuwait and Chairman of the IFSB for 2018, attended by the President of the ISDB, H.E. Dr. Bandar Mohammed Hajjar, 12 central bank Governors and Commissioners of regulatory and supervisory authorities, and 10 senior representatives from among the Council and Full members of the IFSB, representing 19 countries, the statement said.

IFSB is an International Standard-setting organisation for the Islamic Financial Services Industry that promotes the soundness and stability of the global industry, by issuing global prudential standards and guiding principles for Islamic Banking, Islamic Capital Markets and

Takaful (Insurance) Sectors.

According to IFSB, members of the institution are classified into three categories, namely Full Member, Associate Member and those classified as observers.

As a full member of the Board,

the NDIC has voting rights – a status which is only available to the financial sector supervisory authorities of its member countries.

The work of the IFSB complements that of the

Basel Committee on Banking Supervision (BCBS), International Organisation of Securities Commission (IOSCO) and International Association of Insurance Supervisors (IAIS), by introducing

new, or adapting existing international prudential standards consistent with Islamic Shari’ah principles and recommending same for adoption by the relevant Regulatory Authorities.

Afenifere, Oyetola Back Buhari’s Re-election Bid Afenifere chieftains led by Senator Ayo Fasanmi last night canvassed President Muhammadu Buhari’s reelection during a visit to Osun State Governor Gboyega Oyetola.

The team visited the governor after their meeting at the residence of Pa Fasanmi in Osogbo.

According to a statement issued last night by the state government, Senator Olabiyi Durojaye who spoke after being mandated by Fasanmi, said the group is the authentic Afenifere.

He explained that Afenifere means progressive, adding that the only known progressive party in the country is the All Progressives Congress (APC).

He described Pa Fasanmi as “the oldest living senator in the country and a direct disciple of

Chief Obafemi Awoolowo who is the authentic Yoruba leader.”

Oyetola, who they described as a true progressive, said President Buhari is running welfarist social intervention programmes like the TraderMoni, among others.

The governor commended “the real” Afenifere leaders for their genuine interest in the masses, which is the reason for seeking President Buhari’s re-election and for believing in his leadership.

He promised the leaders, who hailed his election, that he would run an administration they would be proud of.

Other leaders in the delegation are Prince Tajudeen Olusi, Mutiu Are and Pa Yemi Alade, among others

Human Rights Day: Obaseki Highlights Efforts to Uphold Human Dignity in Edo The Edo State Governor, Mr. Godwin Obaseki, has said that the state government has advanced a number of policies and legislations to uphold human rights in the state, noting that the rule of law remains a major cornerstone of his administration’s policy drive.

The governor said this in commemoration of the Human Rights Day, marked every December 10, by the United Nation. This year marks the 70th anniversary of the day, which observance began in 1948, the year the UN adopted the Universal Declaration of Human Rights.

The governor said that the state government places huge premium on human rights, which is why a number of reforms and policies pushed by government are those that uphold the dignity of man and places no one above the law.

According to him, “As we mark Human Rights Day, it is instructive that we as a government, demonstrates a commitment to upholding the rights of every Edo resident.

From the Child Rights Law; to the Law for the Prohibition of Trafficking in Persons; and efforts at checking child abuse; as well as reforms in property rights and a number of other such legislations

and policies, we are enthroning respect for every citizen’s right as a key aspect of our development efforts.

“We have through the law prohibiting trafficking in persons set up the Edo State Taskforce Against Human Trafficking (ETAHT), which will ensure the prosecution of persons who debase the dignity of others in form of human trafficking for pecuniary gains. We have recorded tremendous support from the international community in these efforts and we intend to intensify the campaign.”

Noting that the state government doesn’t take lightly the task to protect children from predatory paedophiles, he said, “We have launched an all-out war against sexual predators in our midst to ensure that the rights of children are protected. This is part of the overall strategy to enforce the Child Rights Law.” The governor also noted that the state government is in the process of setting up the office of the public defender for those without access to legal representation and has set up a committee on the prerogative of mercy to help decongest prisons.

LOCAL CONTENT CHAMPION...

L-R: Executive Secretary, Nigerian Content Development and Monitoring Board, Simbi Wabote; General Manager, External Relations, Shell Petroleum Development Company (SPDC), Igo Weli; and SPDC’s General Manager, Contracting and Procurement, Antony Elis, at the recent Petroleum Technology Association of Nigeria Award Night where SPDC emerged local content company of the year, in Port Harcourt...recently

Despite Challenges, Manufacturers Express Confidence in Nigeria’s Economy Jonathan Eze in Cairo, Egypt Manufacturers’ Perception Index of 66 points computed from a survey of over 800 manufacturing companies in Nigeria for the first half (H1) of 2018 has indicated that manufacturers still have confidence in the country’s economy.

The new report released yesterday by the Manufacturers Association of Nigeria (MAN) also showed that the economy improved in the second half (H2) of the year.

Quoting the Gross Domestic

Product (GDP) by the National Bureau of Statistics (NBS), MAN stated that Nigeria’s real national output grew by 1.5 per cent in the second quarter of 2018, which indicates a 0.45 per cent point decline from 1.95 per cent growth recorded in the first quarter of 2018.

The association, however, stated that a 0.78 percentage point increase from 0.72 per cent was recorded in the second quarter of 2017.

The report also affirmed that the non-oil sector output grew

by 2.05 per cent in the second quarter of 2018, thus showing 1.3 percentage point increase from 0.75 per cent growth recorded in the first quarter of the year.

It also indicated 1.6 percentage point increase from 0.45 percent of the second quarter of 2017.

According to the report, “Oil sector output grew by -3.95 per cent in the second quarter of 2018, an 18.72 percentage point decline from the growth rate of 14.77 per cent in the first quarter of 2018. It also shows that 7.48 percentage point decline from 3.53

per cent growth rate recorded in the second quarter of 2017.”

However, the real output growth in the manufacturing sector in the second quarter of 2018 was 0.68 per cent, marginally higher than the 0.64 per cent recorded in the corresponding quarter of 2017, but lower than 3.39 per cent of the preceding quarter by 2.71 percentage points.

It stated further that the performance of manufacturing sector in the first half of 2018 was strongly influenced by macroeconomic developments in the period.

Obi: APC’s Anti-corruption Crusade Ineffective Onyebuchi Ezigbo in Abuja The vice presidential candidate of the Peoples Democratic Party(PDP), Mr. Peter Obi, has said the All Progressives Congress –led federal government is merely playing to the gallery in its fight against corruption.

He said fighting corruption requires much more than

a public announcement, adding that Nigerians should consider the damaging effect of corruption and deal with it because it is not a rocket science.

The former Governor of Anambra State, who spoke yesterday during the Youth Wing of the Christian Association of Nigeria (YOWICAN), National Unity

Summit in Abuja, said the fight against corruption should be for every Nigerian for it to be effective and enduring.

Speaking on the topic: “The role of Youths in ensuring peaceful and credible elections in 2019”, Obi said:“It is important that everybody become part of those trying to stop it because it kills three things that try to make society work.

“It kills entrepreneurship, professionalism and hard work. It is not about shouting about it, but dealing with it,” he said.

Earlier the National President YOWICAN, Pastor Nyeneime Andy, underscored the importance of conducting the 2019 elections that would enjoy the trust and confidence of Nigerians.

Merit Award Winner Urges FG to Adequately Fund Education Udora Orizu in Abuja The sole recipient of the 2018 Nigerian National Order of Merit (NNOM), Professor Olufemi Obafemi, has appealed to the federal government and everyone concerned with development to adequately fund the educational system so that quality education can be delivered to the people.

Obafemi while addressing journalists at the 2018 reunion of University of Ilorin Alumni Association, Capitol Assembly in Abuja put together to honour him, noted that education is the fundamental tool for growth and development of any country.

According to him, “education is the foundation of growth; it is what helps the society to actualise itself; a nation without education has no civilisation.

Fundamentally literacy is critical to development, if you do not read you are as good as dead because you are disconnected from the world out there.”

While lamenting the level of literacy and readership in the country, he said governments, cultural creators, educators and everyone concerned with development must give a helping hand to resuscitate the reading culture.

“Our youths nowadays

are more interested in their phones - not the educative part of their phones; but rather the horrendous aspect of the internet; people have moved away, thinking that books are dead.

“There is no culture that can grow without books, no matter how sophisticated we get. No society can develop without a vibrant reading culture. No matter how digitalised you are, without books, which are the permanent record of knowledge, you cannot make it”, the emeritus professor added.

He also said government

has a responsibility to promote book culture.

“Government should make books available in libraries, bookshops.

They must contribute to the development of book industry, not just publishing books but also getting them to bookshops and so on.

“Government through laws and regulations must protect intellectual properties; books are protected, piracy of books must stop. Writers also should be motivated by government by buying thousands of books of writers and distribute to schools,” he added.

THISDAYt WEDNESDAY DECEMBER 12, 2018

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ÍšÍşËœ ͺ͸͚΀ Ëž T H I S D AY

WEDNESDAYSPORTS

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

Toriola Wins Men’sTableTennis Single Event for Akwa Ibom Joshua Onyebara in Abuja Veteran player, Segun Toriola, yesterday won the gold medal for Akwa Ibom State in the men’s single table tennis event at the 19th National Sports Festival in Abuja.

Toriola, a seven-time Olympian, defeated Ganiyu Asmiyu from Bayelsa State 4-1 to emerge the winner.

A sizeable crowd watched the thrilling final held at the basketball indoor hall at the Package B of the National Stadium, Abuja.

After Asmiyu took the first set at 11-9, Toriola recovered and claimed the subsequent three sets11- 7 , 11-9, 11-7 and 11-9.

It was a lively contest that climaxed with both players and their supporters overwhelmed by excessive emotions. “ It was tough but my experience mattered, particularly after the first

NATIONAL SPORTS FESTIVAL set. Nigeria is blessed with talented players,� Toriola noted.

Leon Osaiowie of Edo State yesterday won a Gold Medal and broke a national record in 800m Freestyle Swimming event at the ongoing 19th National Sports Festival in Abuja.

According to sources in Team Edo camp in Abuja, it was the father of the swimmer who broached his kid’s coming to participate at the Games.

Chairman of Edo Sports Commission, Godwin Dudu Orumen confirmed it. He stressed of the foreign-born swimmer: His father spoke with me a few weeks after l assumed office as Chairman of the Edo Sports Commission and l gave him my consent.�

Unlike several other parents who will attach condition before their wards will compete for Nigeria, the senior

Osaiowie only asked to be accommodated during

the festival. “He asked only asked for hotel room accommodation and local transport Today, the Deputy Governor, Rt Hon

Phillips Shaibu has directed the Edo Festival Team to make refunds to him and asked that the Commission keeps tab on the swimmer as

well as support his training / participation in competitions that will help him improve his talent,� confirmed the ESSC boss.

Edo State Deputy Governor, Rt. Hon. Philip Shaibu (Left) in a handshake with Captain of Ikoyi Golf Club, Brigadier General Mao Amalegbe. With them is Captain of Benin Golf Club Osagie Nehikhare at a special tournament held in Benin in honour of the Deputy Governor @49

Monarch Promotions’ ‘Kings of the Ring’ Fights SWAN Berates North West Governors for Their to Hold Dec 22 Boxers from Britain, Aus- and Africa,� he noted of what has been dubbed Union Light Middleweight Attitude Towards Sports theIn anti-climax of boxing champion, Nigeria’s Sulei- tralia, Mexico and UAE will the bouts.

Sports Writers Association of Nigeria (SWAN) North West Zone has condemned the complacent attitude of some North West Governors to. sports development.

Speaking in a communiquĂŠ issued after its meeting on Tuesday in Abuja, jointly signed by its Zonal Vice President, Ado Salisu and Zonal Secretary, AbdulRaheem Aodu, SWAN expressed shock at the inability of Katsina State government to send its athletes to the 19th National Sports Festival in Abuja despite their impressive performance at the zonal eliminations in Kaduna.

SWAN North West zone also berated Jigawa State government for not supporting any sports writer to the Abuja Festival notwithstanding the vital roles of promotion that sports writers play in sport development.

Considering the unifying and developing roles

of sports in Nigeria and being an effective tool to take youth away from crime and other vices, SWAN urge North West governors to take sports development seriously to fully maximize its positive impacts in the society.

SWAN in the North West zone call for better synergy between our various sports ministries and sports councils in the zone and sports writers, to engender smooth working relationships as their works are complementary.

SWAN North West Zone commends Kano State government for its efforts in developing sports and sporting activities in the state and in Nigeria. We also commend Kaduna State government for not relenting in developing sports in the state, while we urge for greater efforts and improved funding of sports in Kaduna State and other North West states.

Ezenwa, Katsina Utd Fail to Reach Agreement on Wages Katsina United officials have told SCORENigeria they have closed the door on Super Eagles goalkeeper Ikechukwu Ezenwa after transfer talks broke down.

Katsina United have signed a third goalkeeper Abdullahi Boje, who was to have been released for Ezenwa after he failed to establish himself at the NPFL club last season following his move from ABS FC. They are also close to

completing the international transfer of Niger international Kassaly Daouda.

Ezenwa Demands 700,000 Naira Monthly “Ezenwa won’t be joining Katsina United,� a top official tacitly told SCORENigeria It is believed that ‘The Changi Boys’ cannot afford the goalkeeper’s demand for N700,000 Naira monthly salary The highest paid players at Katsina United is on 350,000 Naira monthly.

events of the year, Monarch Events and Promotions has lined up some mouthwatering bouts to cap 2018.

Amongst some of the fights scheduled to hold on December 22 at the Landmark Events Centre in Lagos are three international title bouts and some national challenge contests Speaking at a media briefing in Lagos yesterday on the pending battles, a representative of Monarch Promotions, Emeka Onele announced that African Boxing

man Olagbade will take on Gyorgy Mizsel Jnr of Mexico in a 12-round WBO Africa Light Middleweight title clash.

In another international bout, King Davidson, a Nigerian based in Australia who is the WBF Africa middleweight champion will take on a yet-to-beannounced opponent, while Tony “Sugar�

Salam, another WBF Africa Cruiserweight Champion from Nigeria will take on Ghana’s Kwesi Tutu in an eight round title bout.

Joshua Begging for UniďŹ cation Fight, Says Wilder Anthony Joshua’s team are “beggingâ€? for a world heavyweight unification bout, says WBC champion Deontay Wilder. The American, 33, controversially drew with Britain’s Tyson Fury in Los Angeles earlier this month.

The WBC has since sanctioned a direct rematch after a “unanimous agreement� in a meeting of the board of governors. “They’re definitely begging now. His management have been trying to reach out to mine all of a sudden,� Wilder told Joe Rogan’s podcast on Monday. “He could have had this opportunity, he had many opportunities; he could have fought Luis Ortiz, he could have fought me, he had a chance to fight (Tyson) Fury. “But people want to know

who’s the best, especially after seeing this Fury fight, and I’ve been trying to show people who is the best. I’m always going to say I’m the best until I’m defeated.�

A bout between WBC champion Wilder and Joshua - who holds the IBF and WBO, WBA belts - would unify the titles in the heavyweight division.

Joshua’s promoter Eddie Hearn has previously engaged in failed negotiations with Wilder’s team.

The 29-year-old British boxer is yet to confirm an opponent for his next fight on 13 April at Wembley Stadium, with Hearn saying “it comes down to what Wilder wants to do�. “Wilder is our absolute first and golden choice,�

Hearn said.

also feature on the night put together by Monarch Events and Promotions.

CEO of Monarch Events Promotions, Prince Stanley Williams, who was represented by Onele at the unveiling of some of the boxers said after a successful staging of the BoxFest which held in April this year, the outfit was on the threshold of staging yet another groundbreaking boxing event.

He said, “this December, we bring to you Kings of the Ring, an unprecedented boxing event in Nigeria

President of the Nigeria Boxing Board of Control, Dr Rafiu Oladipo said the event was a leap in the fortunes of Nigerian boxing, calling on all Nigerians to join hands with the board in promoting the sport. “I want to appeal to all, especially, the sporting media to help in the promotion of Nigerian boxing.�

Remi Aboderin, Scribe of the NBB of C who.is also the President of the West African Boxing Union (WABU) described the fights as another avenue for Nigerian prized fighters to earn good money.

55

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WEDNESDAYSPORTS

Liverpool, Spurs Through to Last 16 on Dramatic Night CHAMPIONS LEAGUE Mohamed Salah’s first-half goal gave Liverpool the win they needed to secure a place in the Champions League knockout stage.

Elsewhere on the night, Lucas Moura’s 85th-minute equaliser against Barcelona saw Tottenham achieve a remarkable qualification for the Champions League last 16.

Jurgen Klopp’s the Reds needed a victory with a clean sheet or by two clear goals to make the last 16 - and in-form talisman Salah obliged by beating Napoli keeper David Ospina at his near post in the 34th minute.

Liverpool fully deserved their victory as Ospina partially redeemed himself with fine saves from Salah and Sadio Mane, with the latter and Virgil van Dijk also missing clear chances to extend the home side’s advantage.

The clean sheet was the key, however, and Liverpool survived a huge scare in injury time when goalkeeper Alisson made a crucial save from Arkadiusz Milik in a rare Napoli opening.

Liverpool go through in second place behind Paris St-Germain - a feat achieved despite losing three away games in their group.

Salah started the season slowly after his stellar feats when he scored 44 goals last season - but he has stepped on the throttle in recent weeks and now looks like the player who destroyed defences in domestic and European competition last season.

The Egypt forward - fresh from a hat-trick in Liverpool’s 4-0 win against Bournemouth - made the difference here, admittedly with the help of a dreadful piece of goalkeeping

Tottenham Spurs players celebrating the passage to the UEFA Champions League last 16 last night

from Ospina, and his pace, power and movement was often too much for the Italians’ defence to cope with.

It was all summed up in the goal as he somehow escaped the mountainous figure of Kalidou Koulibaly to make the decisive contribution. Salah’s strike was even more significant as his fellow striker Mane, for all

his tireless work, had a night in front of goal that he will not recall with pleasure.

Salah in full flight, along with his capacity to score crucial goals, is a threat to any defence and his influence will only grow as Liverpool continue their challenge for the Premier League and Champions League crowns.

In the Tottenham clash against Barcelona, Spurs, with one point from their first three games, needed to match or better Inter Milan’s result at home to PSV Eindhoven and were set for elimination after Mauro Icardi had levelled for the Italian club in the 73rd minute. There was an

agonising wait for Spurs before it was announced that Inter had failed to find a winner against Group B’s bottom side.

Tottenham had gone behind to Ousmane Dembele’s early strike but then peppered Barcelona’s defence with wave after wave of attacks, with both Harry Kane

and Son Heung-min going close.

They finally made the decisive breakthrough five minutes from the end when substitute Moura, who moments earlier had a header cleared off the line, fired in. Spurs become only the eighth side to qualify from the group stage after claiming only one point from their first three games.

Molinari Named European Tour Golfer of the Year

Man City Down to 15 Men for Hoffenheim Clash

Open Champion Francesco Molinari has been named European Tour Golfer of the Year.

The 36-year-old Italian was a hero of Europe’s Ryder Cup victory over the United States at Le Golf National in September. Molinari also won the BMW PGA Championship at Wentworth, holding off Rory McIlroy to secure victory.

But it was his triumph two months later at Carnoustie that set him apart from his other European Tour rivals.

Molinari was the first player from the home team to win all five matches in the Ryder Cup. He was unflappably immaculate in a bogey-free final round 69 as he repelled a high quality chasing pack that included playing partner Tiger Woods, McIlroy, Justin Rose and US star Xander Schauffele.

After claiming that first major title, Molinari went on to secure the European Tour’s Race to Dubai title to cap the best year of his career. “It is a huge honour to be named the Hilton European Tour Golfer of the Year,� he said. “So many great names have earned this honour and

Injury-hit Manchester City have just 15 senior players fit for Wednesday’s Champions League tie against Hoffenheim, boss Pep Guardiola revealed yesterday.

David Silva and Fernandinho have joined an injury list at City that already featured Sergio Aguero, Kevin De Bruyne, Danilo, Benjamin Mendy and Claudio Bravo. “We have 15 players available so I cannot do too much,� Guardiola told reporters when asked if he would make changes against Hoffenheim.

City are already through to the Champions League last 16, but they need at least a point to be sure of finishing as Group F winners, which could ensure an easier draw in the first knockout round. “We are going into a really tough game. We are in the next stage and that’s important but we want to go through finishing first. “If you finish first or second the last 16 is tough but to play at home (in the second leg) is a small advantage.�

Molinari... Europe’s best golfer of the year

I feel very proud to join them. “It is an award that means a lot to me and is a nice way to end a very special year.

Winning at Wentworth, in one of our biggest events, gave me a lot of confidence for the summer.� “But obviously winning the Open at Carnoustie, becoming my country’s first major champion, was incredible. “To then go on to win the Race to Dubai and be part of that European Ryder Cup team in France was amazing.

I’ll always look back on this season and be proud of what happened.�

European Tour Chief Executive, Keith Pelley, said: “It is right that we pay special tribute to Francesco Molinari who repeatedly made history this year. “Francesco is not just a phenomenal golfer, he is a wonderful person too and throughout this season he consistently reminded us what a magnificent ambassador he is for our game.�

Guardiola’s injury problems come after City suffered their first Premier League defeat of the season at Chelsea on Saturday, a setback that saw Liverpool move above them into top spot in the table.

Spanish midfielder Silva was substituted at Chelsea with a hamstring injury and Guardiola said he faces “a few weeks� out.

Argentina forward Aguero, who has missed three games with a groin problem, could return to face Everton on Saturday.

Similarly, Veteran Dutch winger Arjen Robben will play no part in Bayern Munich’s Champions League clash at Ajax due to an ongoing knee injury, the Bundesliga giants announced yesterday.

Robben, 34, has been out injured since scoring twice in a 5-1 win over group rivals Benfica last month and has yet to fully recover.

Robben, who scored Bayern’s winning goal against Dortmund in the 2013 Champions League final, confirmed in Monday’s

edition of magazine Kicker that he will quit the Bavarian giants at the end of the season.

Bayern, who sit top of Group E on 13 points, need just a point at Amsterdam Arena today to qualify for the last 16 as group winners.

With a two-point deficit to Bayern, a win for Ajax would see the Dutch giants finish top of the group.

As well as Robben, injured midfielders Corentin Tolisso and James Rodriguez have also been left off Niko Kovac’s matchday squad.

R ES U LT S Gala’ray 2-3 Porto Schalke 04 1–0 Lokomotiv Club Brugge 0-0 Atletico Monaco 0-2 Dortmund Barcelona 1-1 Tottenham Inter 1-1 PSV Red Star 1-4 PSG Liverpool 1-0 Napoli

Wednesday December 12, 2018

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MISSILE Secondus to Magu “The country is on a keg of gunpowder at the moment as a result of your hatchet job for the ruling government and I warn you to get away from this illegitimate job of using instruments of state to harass and intimidate opponents” – The National Chairman of the PDP, Prince Uche Secondus, warning the Chairman of EFCC, Mr. Ibrahim Magu, to stop harassing perceived political opponents of President Buhari.

KAYODEKOMOLAFE THE HORIZON

kayode.komolafe@thisdaylive.com

0805 500 1974

Standing Up for Human Rights I t is already 70 years that the United Nations General Assembly adopted the Universal Declaration of Human Rights.

The declaration remains a giant step in the journey of human civilisation.

In sum, the declaration has established irrevocably the “equal dignity and worth of every person.”

The significance of the famous document (translated into at least 500 languages) derives from the historical fact that it is a synthesis of the perspectives of representatives from divergent legal, social and cultural backgrounds. The document is still a proof that mankind can unite in the interests of our shared humanity contrary to the centrifugal activities of the contemporary right-wing populists around the world. Whatever the merchants of hate and rationalisers of oppression may say the universality of the values embodied in the declaration remains unimpeachable.

Activities are still being organised globally on the theme of this year’s celebration: Stand Up for Human Rights.

The theme is a clarion call on us to stand up for our rights as well as the rights of fellow human beings. The underlying principle of the theme is reminiscent of the judicial pronouncement in one of the several legal battles to advance the frontiers of human freedom by the legendary Gani Fawehinmi.

On that occasion the court said something to the effect that everyone should be his “brother’s keeper” in matters of human rights and their enforcement. It is even more so when the rights involved is the right to life.

There is also the striking resonance of the theme about the Nigerian condition; inequality, social injustice and assault on human freedom are open sores on the national conscience.

Nobelist Wole Soyinka says that for him, “justice is the first condition of humanity.”

In Nigeria today, justice is doubtless the first condition of nationhood.

Two features of the political and socioeconomic landscape may be enough to demonstrate this point on this occasion of global reflection on equality, justice and freedom. These are the indifference to human rights violation of others and the sore lack of socio-economic rights.

The culture of popular resistance to human rights violations is receding and there is no lack of rationalisation of this socio-political retrogression. To start with, the violation of the rights of members of the poor classes hardly attracts the attention of the selfish society. Illegal detention, physical abuse and dehumanisation constitute the lot of the poor. In most cases there is hardly a voice raised on their behalf.

If there is any voice at all it would not be as loud as the weighty voice raised when a member of the upper class is the victim. To effectively stand up for the rights of the poor the justice system should be oriented in a way that takes into cognisance this class reality.

Besides, instead of exerting collective pressures on government to obey court orders that some citizens on trial be released from custody, there is a conspiracy of silence in the land. Even otherwise informed personalities have elected to look at the violation of rights of others with partisan, ethnic, religious or even sectarian binoculars. Technicalities are glibly invoked

Attorney-General of the Federation, Abubakar Malami on an issue that is purely of human freedom.

The rest of the society is becoming an ostrich when it comes to this development, which questions the fundaments of democracy.

The underlying philosophical point is hardly disputable: freedom is at the foundation of all the human rights declared December 10,

1948 by the world body and the subsequent ones added to the list as part of mankind’s march to progress.

Furthermore, the general climate of human rights in the experiment with liberal democracy since 1999 has proved that mere laws and judicial pronouncements might not be sufficient in the struggle for advancing human rights.

As another Nobel Prize Winner, Amartya Sen, argues in his book, The Idea of Justice, it may be necessary to go “beyond the legislative route” to protect human rights. The eminent economist and social philosopher puts the matter like this: “It is perhaps important to emphasize that not only are there several ways of safeguarding and promoting human rights other than legislation, these different routes have considerable complementarity; for example, for effective enforcement of new human rights laws, public monitoring and pressure can make a considerable difference. This is one of the reasons why it is important to give the general ethical status of human rights its due, rather than looking up the concept of human rights prematurely within the narrow box of legislation –real or ideal.”

The second important area of reflection on this occasion is the material status of socio-economic rights in Nigeria. The burgeoning poverty in

the land is being exacerbated by the increasing denial of socio-economic rights of the people.

The rights in this neglected category include the right to education, healthcare, potable water, safe environment, social protection and others contained in the Chapter II of the 1999 Constitution. The obvious drawback, as petty bourgeois lawyers are quick to taunt the poor people, is that these constitutional rights are not justiciable. In other words, unlike the freedom of expression, which can be defended in court, it is almost impracticable to defend freedom from hunger, disease and ignorance foisted on the poor by the unjust system in court. Luckily, the indefatigable human rights defender, Femi Falana, has richly illuminated the path of seeking legal enforcements of some of these rights in his important book, Nigerian Law on Socio-Economic Rights. It’s a gallant effort against passivity in the struggle for human rights. A lawyer who reads that book may have a rethink on the culture of merely wringing one’s hands and proclaiming non-justiciability of socio-economic rights.

As humanity celebrates the 70 years of the Universal Declaration of Human Rights, the Nigerian justice sector should do more to protect the rights of the oppressed and the poor in the society.

Are there Still Tribes in Nigeria?

The story of the 26-year old American evangelical missionary, John Allen Chau, is a tragic one that should attract the sympathy of all regardless of faiths. He was killed in the course of his lifemission of converting to Christianity members of the “lost tribe” of North Sentinel Island in the Bay of Bengal in India. Their population is estimated to be between 50 and 150 and it is believed to be unstable. Some even say, Chau “knew he might die.”

According to one report, North Sentinel Island “ is home to the Sentinelese people, who are among the world’s last uncontacted tribes – that is, indigenous groups that maintain no contact with modern civilisation (italics added for emphasis).

Most past efforts to contact the Sentinelese have been met with hostility.”

The action of the missionary was said to have violated Indian laws, which seek to protect the people in their isolated state. Human rights experts are divided in their opinions on the matter. Some think the Sentinelese “should be let alone” while others say it is the obligation of the society to connect them with larger world.

Our hearts should go to the survivors of Chau.

His sad story says something again about the meaning of the category, tribe, which is still being used most inappropriately in official documents and speeches in Nigeria. Even professors appear on television condemning “tribalism” and describing some persons as “detribalised.”

Only on August 16 last year, this reporter humbly drew attention to these self-inflicted insults of describing Nigerian ethnic groups and nationalities composed of millions of members as “tribes.”

The piece is reproduced below in parts to

further draw attention to this trend: “In his work entitled Keywords: A Vocabulary of Culture and Society, Marxist literary critic, Raymond Williams, observes as follows: “Every word I have included (in the volume) has at some time, in the course of some argument, virtually forced itself on my attention because of the problems of its meaning seemed inextricably bound up with the problems it was being used to discuss.”

In the book, the Welch scholar illuminates on the origins of over 100 words while he takes the reader through the trajectories of their meanings over time within the context of culture and society. Although the approach of Williams was essentially cultural, it is worth noting that the changes in the meanings are politically and ideologically loaded.

If Williams were to conduct his research in today’s Nigeria, he would probably be interested in how the meanings of some words are changing almost imperceptibly. These words, which could be veritable candidates for Williams’ Keywords include “tribe,” “radical”, and “mantra.” The cultural, political and sociological implications of the meanings of these words ought to interest our cultural theorists and social scientists.

Doubtless, these problematic words are used to discuss serious problems of the Nigerian politics, economy and society.

Perhaps the most sociologically problematic word used in everyday conversation in Nigeria is “tribe.” It is often assumed to be complimentary when you openly acknowledge a Nigerian as “detribalised.” Meanwhile, no one bothers to tell us if the person being praised was ever “tribalised” before the process of “detribalisation” allegedly began. In official documents, provisions are still made for Nigerians to indicate their

“tribes.” When you make statements to the police, you are asked to indicate your “tribe.” People proudly introduce themselves as belonging to the tribes of Ijaw, Igbo, Tiv or Fulani when filling visa forms of other countries. Here we are sometimes talking of nationalities of tens of millions of people! Commentators seem united in proclaiming “tribalism” as a major problem of Nigeria. So to achieve national integration, our leaders should be “detribalised” in exercising powers, so goes the advocacy.

The word “tribe” is used by people who are seemingly oblivious of the derogatory import of that sociological category.

Yet, eminent political scientist, Okwudiba Nnoli, has thoroughly dealt with the misnomer that is called “tribe” in his seminal work entitled Ethnic Politics in Nigeria. According to Nnoli, it is utter misuse of words to be talking of “tribes” in modern Nigeria. What we have in Nigeria are ethnic groups, nationalities (and some even now talk of nations!) and certainly not tribes. The colonialists pejoratively refer to the “natives” as belonging to “numerous tribes.”

And 57 years after independence, members of the elite have uncritically adopted this insulting label fit only for those who lived in primitive societies. Members of a tribe might not even be aware of the existence of other tribes a few kilometres away in the primitive society.

Indubitably, none of the over 250 ethnic groups in Nigeria should be referred to as a tribe…”

The insult should stop. To start with, the word “tribe” should no more appear in official documents and speeches to describe Nigerian ethnic groups. And scholars and public intellectuals should lead the way by stop using “tribes” when they mean ethnic groups and nationalities.

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