WEDNESDAY 6TH FEBRUARY 2019

Fighting Corruption in Nigeria Not Easy, Says Buhari Urges workers to reject candidates seeking to privatise NNPC Onyebuchi Ezigbo in Abuja and Victor Ogunje in Ado Ekiti President Muhammadu Buhari yesterday in Ado-Ekiti, the

Ekiti State capital, said his administration was facing tough time in the fight against corruption, vowing that it would not be discouraged by the challenges.

The president, who was in the ancient city to push forward his presidential campaign in the Southwest, also asked Nigerian workers not to vote for

any presidential candidate that plans to privatise the Nigerian National Petroleum Corporation (NNPC) and its subsidiaries.

Standing with Vice President

Yemi Osinbajo and other senior party members, Buhari told the mammoth crowd at the 15,000-capacity Ekiti Pavilion that he would not be discouraged to rid the

country of graft as he had promised in 2015.

He said: “We are fighting corruption, but it has not been Continued on page 8

Transactions on CBN’s I&E Window Hits $48bn... Page 11 Wednesday 6 February, 2019 Vol 24. No 8704. Price: N250

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FG to Ban Importation of Tomato Products by 2021... Page 48

Onnoghen Hints at Agric as Source of His Wealth Petitions police over ‘herdsmen’ harassment of farm workers Accuses CCT chairman of bias CUPP alleges FG wants to force CJN’s resignation Alex Enumah and Udora Orizu in Abuja The Chief Justice of Nigeria, Justice Walter Onnoghen, continued his battle for survival yesterday, hinting at agriculture as the source of his wealth with a petition to the acting Inspector General of Police, Mr. Mohammed Adamu, over alleged threat

to the lives of workers on his farm in Masaka, Nasarawa State.

Onnoghen was suspended a couple of weeks ago by President Muhammadu Buhari and has a February 13 date with the Code of Conduct Tribunal (CCT), where he is being arraigned for alleged Continued on page 8

Saraki: With Pan-Nigerian Endorsement, Atiku Now Unstoppable Adedayo Akinwale in Abuja and Wole Ayodele in Jalingo Senate President Bukola Saraki yesterday expressed confidence that with the multiple endorsement of his party’s presidential candidate, Alhaji Atiku Abubakar, by a coalition of Pan-Nigerian political and socio-cultural groups, victory in the impending February

16 election is on the horizon.

Saraki also referred to the results of scientific polls by a couple of credible polling agencies and institutions, including the London Economist Intelligence Unit and the William and Associates team, saying it has become obvious that Atiku is coasting Continued on page 11

PDP Suspends Zamfara Campaign over Fresh Attacks... Page 8

NO MORE WAR...

Speaker, Lagos State House of Assembly, Hon. Mudashiru Obasa (right), and Governor Akinwunmi Ambode, during the presentation of the state’s 2019 Appropriation Bill in Ikeja… yesterday

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PAGE EIGHT

PDP Suspends Zamfara Campaign over Fresh Attacks Bandits kill seven soldiers, 14 civilians Kingsley Nwezeh in Abuja The Peoples Democratic Party (PDP) in Zamfara State has suspended its governorship campaign, following fresh attacks on some communities in the state on Monday by armed bandits.

The party’s governorship candidate, Mr. Bello Matawalle, announced the decision at a news briefing in Gusau yesterday.

Seven soldiers and 14 civilians were killed by rampaging bandits in the state while terrorists killed three civilians in Adamawa when they attacked some towns, including Shuwa and Madagali Local Government Areas.

Matawalle said, “I want to announce that I have suspended all my campaign programmes due to the renewed rising bandits’ activities in the state.

“I also wish to call on the government and security agencies to come up with

practical measures that will adequately bring the bandits’ activities to an end.”

The PDP candidate, who expressed concern over the attacks, lamented that the situation was now taking a new dimension, where victims were particularly identified before being either killed, kidnapped or maimed.

However, an eyewitness of the killings, Mr. Usman Makama, said the hoodlums attacked the village head’s house, where they killed one of his wives before moving into the village.

He said: “They put the gun in her mouth and blew up her head, after which they abducted the village head and one other person and then moved inside the village.

“This morning, we carried out the burial rites of 13 persons, including Ade, the district head’s wife; and we were told that the bandits attacked two other villages of Tudun Wadan Mai Jatau

and Takoka where they killed scores.”

In a related development, the Nigerian Army has said it repelled Boko Haram fighters that attacked Adamawa towns and recovered weapons from fleeing terrorists.

Military sources said the soldiers were killed while engaging the bandits, who killed 14 civilians including a relation of Senator Kabiru Marafa from the state.

The attack took place Monday night in Bini Village of Maru Local Government Area.

The civilians were also killed Monday night in Tudun Wada Maijatau, Takoka and Ruwan Bore.

"The bodies of the soldiers were deposited at the Federal Medical Centre, Gusau while the civilians including a sister of Senator Marafa were buried yesterday,” said a source familiar with the incidents.

Meanwhile, the Nigerian Army said contrary to media reports, three people were killed

during the terrorist attack in Adamawa Monday night.

It said in a statement: "In straightening the records, troops were alerted to an attack on Shuwa by Boko Haram terrorists who had infiltrated the village through Karchinga on a looting mission, to which the troops of 143 Battalion swiftly responded by mobilising themselves to Shuwa village, where they fiercely engaged the insurgents in combat and successfully repelled the attack and curtailed the incursion.

"The troops, who recovered one hand grenade and six rounds of anti-aircraft ammunition after the encounter are currently holding grounds in Shuwa village, while some elements of the battalion are exploiting further in pursuit of the fleeing insurgents."

The statement signed by the Deputy Director, Public Relations, Theatre Command, Operation Lafiya Dole, Colonel Onyema Ugochukwu, said three people were killed during

the attack.

It added: "Sadly, on the arrival of troops to the location, the insurgents had killed three persons, looted and torched a shop, a health care centre and a local market.

"It is pertinent to further inform that calm has been restored in Shuwa village, while Madagali, Michika, Gulak and Baza towns remain peaceful and firmly under control of the troops.

"Our hearts go out in deep sympathy to those who fell during the attack and those who have been affected in one way or the other by the incident."

The Police in Zamfara also confirmed the killing of 15 persons and the kidnap of six women by gunmen in Gusau LGA of the state.

The Police Public Relations Officer (PPRO) of the state police command, Muhammad Shehu, made the confirmation in a statement in Gusau, the state capital.

Shehu said that on Monday, there was an attack in Wonaka, Ajja, Mada, Ruwan Baure, Doka, Takoka and TudunMaijatau villages of Mada district in Gusau area.

He said a woman was among the persons killed, adding that the attackers also kidnapped six women and a man.

He said: “Fortunately, with the efforts of police and sister security agencies, the abducted women have regained their freedom and have been reunited with their families.

“Normalcy has been restored to the affected villages, with improved deployment of PMF, CTU, special forces and military teams to the area to forestall further attack on neighbouring villages.

“The attack is presumably a reprisal to the attack on some Fulanis in a J5 vehicle on February 1, 2019 where seven Fulanis and their animals were killed and set ablaze by the outlawed ‘Yansakai.”

are now living in dreadful fear and have consequently stopped all farming activities.

According to Onoja, the farm, which belongs to the family of Onnoghen, is a large commercial venture that provides employment to a large number of people who live on the farm and tend to the commercial poultry, piggery, livestock as well as cash and food crops on the farm.

While the petitioner said the threat of the herders was being considered as an indication of imminent attack on the lives and property on the farm, he

called on the IG and police to urgently move in and forestall any possible destruction of lives and property at the farm.

He said in part: "We implore you, in the discharge of your constitutional duty as the Chief Police Officer of the nation, to deploy your men to secure the farm to avoid a breakdown of law and order, the possible unleashing of mayhem on the workers, destruction of the farm, including the property thereon and the disruption of ongoing farming activities particularly in this season of harvest.

"We also call for a thorough, exhaustive and stringent investigation into this matter so as to unearth the identities of the persons behind this menace.

“We trust that you will use your good offices to quash this impending threat and help restore confidence of the people in the farm and its immediate environ."

on two issues that you raised, when you requested an affirmation and confirmation from the delegates on the fact that the Nigerian labour movement is totally opposed to the sale of the refineries and also the privatisation of the Nigerian National Petroleum Corporation (NNPC), and as a politician my ears were quick to pick those issues.

"The message I will leave this conference with is that any candidate that is a proponent of the sale of our refineries and also the NNPC will not get the vote of the Nigerian labour movement," he said.

Earlier in his welcome speech, the NLC President, Mr. Ayuba Wabba, had expressed some reservations over the performance of the privatised federal government entities, especially those in the power sector.

He said according to a study released by Public Services International, privatisation of public utilities has not generally proven to be the correct thing to do in most countries, even developed ones.

Wabba said since the privatisation of electricity distribution, Nigerians are yet to see the fulfillment of promises of efficient service delivery, adding that "instead, the electricity situation has gone worse with chronic failures by Discos to supply prepaid meters, exploitation of Nigerians through estimated billings and reluctance to attend to basic complaints."

He said that even with N39

billion bailout funds from government, the supposed private entrepreneurs have failed to turn anything around except maybe their pockets, unfortunately, at the expense of Nigerians.

"We call on government to reverse the power sector privatisation because it has failed," he said.

Wabba also spoke about the build-up to the general election, insisting on need for the relevant authorities to rise to the occasion and deliver a free and fair election.

"As we approach the 2019 general election, we call on the election management body – Independent National Electoral Commission (INEC) – and indeed all stakeholders to ensure that we have peaceful, free, fair and credible elections in February and March, 2019.

Congress will continue to hold both the players and the referee in this very important election to account on their words and conduct. Nigerians must rise above partisan interests and become the winners of this election - not political parties and their candidates," he said.

While commenting on the hash economic conditions facing workers in the country, the NLC President said that apart from the frightening unemployment indices, there is also a worrisome issue of rising under-employment.

Quoting the National Bureau of Statistics (NBS) report for the third quarter of 2018, Wabba said the general number of persons unemployed in the

ONNOGHEN HINTS AT AGRIC AS SOURCE OF HIS WEALTH asset declaration offences.

He has, however, asked the CCT Chairman, Mr. Danladi Umar, to stand down from the panel of three on the grounds of likelihood of bias.

In an apparent bid to force the CJN out of office, the federal government had acted speedily on a petition by a non-governmental organisation alleging that the apex court justice had failed to declare his assets fully, complaining that he failed to disclose some domiciliary accounts habouring huge forex.

Few days later, the media

was awash with details of the said hidden accounts with insinuation that the hefty cash could be proceed of illicit transactions.

In a nationwide broadcast, the president complained that while he was being upbraided for unlawfully suspending the CJN, no one was talking about the funds found in Onnoghen’s account.

Analysts said yesterday that Onnoghen’s petition complaining about ‘herdsmen’ attack on his farm, might be his strategy of explaining the source of his wealth already

being assailed by the federal government.

Under the 1999 Constitution as altered, public officers are allowed to engage in farming.

In the petition dated February 2 and filed February 4, his counsel, Mr. Ogwu Onoja, SAN, said his client, the CJN informed him that "some men who appeared to be herdsmen were at the farm yesterday afternoon and also later at night, inquiring about the owner of the farm and issued frightening threats to the farmers.

Onoja stated that the workers

Asks CCT Chairman to Stand Down Meanwhile, the CJN has asked Continued on page 11

FIGHTING CORRUPTION IN NIGERIA NOT EASY, SAYS BUHARI easy. But we told the security agencies to keep tab on those on our watch list and ensure that those who have cases to answer do not escape justice.

“As part of our promises, we are building roads, rail lines, fighting corruption. We introduced Treasury Single Account and increase power supply, so that Nigerians can have their own businesses.

“I want to be grateful to Ekiti voters, because the two times I came here, I achieved successes. I came here in 2014 and I also came here to campaign for Fayemi; he won the governorship election; so, I thank you.”

He said that in addition to the fight against corruption, his administration had made efforts in the last three and a half years to revamp the economy and rebuild social infrastructure, such as roads, rail services and power generation.

Other party leaders at the rally were governors Kayode Fayemi (Ekiti); Gboyega Oyetola (Osun); Abiola Ajimobi (Oyo); Rotimi Akeredolu (Ondo) and Ibikunle Amosun (Ogun).

Also at the rally were a former Interim National Chairman of APC, Chief Bisi Akande; the APC National Leader, Senator Bola Tinubu; Afenifere Leader, Senator Ayo Fasanmi; and Chief Olusola Oke. At the rally, a former deputy governor of Ekiti, Chief Abiodun Aluko, formally defected to APC; and so

did some members of Ekiti State House of Assembly, who moved from Peoples Democratic Party (PDP).

The lawmakers, who were led by the Speaker, Mr. Ebenezer Alagbada, are Mrs. Cecelia Dada, representing Ilejemeje Constituency; and Mr. Olanrewaju Olayanju, from Emure Constituency.

In his address, Osinbajo said it was sad that Nigeria earned $383 billion from crude oil sales between 2010 and 2014 under the leadership of Dr. Goodluck Jonathan, but failed to use it wisely.

“That was when we had the highest earning but nothing was done with it. If that money had been utilised judiciously, all the roads, rail lines and employment we are creating would have long been in place for Nigerians.

“Buhari built three refineries as Minister of Petroleum under military era. No government has ever added one, not even during the 16 years of PDP. Don’t let them deceive you, vote for a president you can trust, that is President Buhari,” Osinbajo added.

The National Chairman of APC, Mr. Adams Oshiomhole, said it would be a big mistake if Nigerians elect the PDP presidential candidate, Alhaji Atiku Abubakar, in the February 16 poll.

Fasanmi and Akande described the Reuben Fasorantiled faction of Afenifere, which endorsed Atiku as “political jobbers” who should not be taken seriously.

Fayemi promised the president that he would win in Ekiti and other South-West states in the coming election and urged residents to vote massively for him.

Reject Candidates Seeking to Privatise NNPC, Buhari Tells Workers Meanwhile, Buhari has asked the Nigerian workers not to vote for any presidential candidate that plans to privatise the NNPC and its subsidiaries.

The Secretary to the Government of the Federal Government (SGF), Mr. Boss Mustapha, who represented the president at the 127th Delegates Conference of the Nigeria Labour Congress (NLC) in Abuja, assured that the federal government will not retrench workers due to the new minimum wage.

He also gave assurances that the government is prepared to satisfy the yearnings of the workers by putting in place policies that will cushion the effects of the economic hardship.

Mustapha told the workers who converged at the International Conference Centre, venue of the NLC's conference to support federal government's efforts to rebuild the country.

The SGF said his attention was drawn to the aspect of the NLC president's speech opposing privatisation.

He said: "I heard you clearly

country has increased by 3.3 million while "the combined rate of unemployment and under-employment rose from 40 per cent in the 2017 third quarter to 43.3 per cent in the third quarter of 2018".

"We should be worried that the increased pool of graduates, skilled and unskilled youth in the unemployment market especially rural unemployment is a time bomb. Any attempt to sack workers under any guise as it happened in Kaduna State will complicate the situation," he said.

TOP GAINERS BETAGLASS ABCTRANS CHIPLC SUNUINSURE REGENCY TOP LOSERS AGLEVENTIS NAHCO DANGSUGAR

NGN NGN 6.00 66.00 0.03 0.39 0.02 0.31 0.01 0.21 0.01 0.22 NGN 0.02 0.27 0.13 3.32 0.45 13.50 HONEYWELL 0.03 1.20 STERLINGBANK 0.04 2.35 HPE Nestle Nig Plc ₦1,420.00 Volume: 190.318 million shares Value: N2.925 billion Deals: 3,183 As at yesterday 5 /2/19 See details on Page 39

% 10 8.3 6.9 5.0 4.7 % 6.7 3.7 3.2 2.4 1.6

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NEWS

Transactions on CBN’s I&E Window Hits $48bn Obinna Chima

The cumulative transactions on the Investors and Exporters’ (I&E) foreign exchange window of the Central Bank of Nigeria’s (CBN) have risen to $48 billion since the apex bank created the market 21 months ago, investigation has revealed.

The Director, Corporate Communications at the CBN, Mr. Isaac Okorafor, who confirmed this development in an interview with THISDAY, added that out of the stated amount of inflows, the apex bank purchased about $9.67 billion.

“The I&E window has attracted about $48 billion inflows since inception. Of this amount, the CBN purchased about $9.67 billion,” the CBN spokesman said in a note in response to THISDAY’s enquiries.

The surge in the inflows

recorded on the I&E, it was learnt, was attributed to offshore investors interest in Nigeria’s fixed income securities.

The naira traded at N362.58 to a dollar on the I&E window yesterday.

The central bank had introduced the Nigerian Autonomous Foreign Exchange Fixing Mechanism (NAFEX), commonly known as the I&E window, in April 2017, including a raft of other measures to improve dollar liquidity, when the country faced a severe forex crisis.

The central bank had explained that the purpose of the window was to boost liquidity in the forex market and ensure timely execution and settlement for eligible transactions.

It had listed eligible transactions under the new window to include invisible

Emefiele transactions such as loan repayments, loan interest payments, dividends/income remittances, capital repatriation, management service and consultancy fees.

Also, on the eligible list were software subscription fees, technology transfer agreements, personal home remittances and any such other eligible transactions

including ‘miscellaneous payments’ as detailed under Memorandum 15 of the CBN Foreign Exchange Manual.

While explaining that the invisible transactions under this window excludes international airlines ticket sales’ remittances, the CBN added that the window covers Bills of Collection and any other trade-related payment obligations, which are at the instance of the customer.

It is worthy of note that supply of forex to the window is through portfolio investors, exporters, authorised dealers and other parties with forex exchange to naira.

The CBN is a market participant at the window to promote liquidity and professional market conduct.

Nigeria’s forex reserves stood at $43.170 billion as of last Friday, representing a marginal increase by $95

million, compared with the $43.075 million it was at the beginning of the year.

As at the end of the fourth quarter 2018, aggregate forex inflow through the CBN amounted to $14.51 billion and indicated a 12.3 per cent and 1.3 per cent increase over the levels in the preceding quarter and the corresponding period of 2017, respectively.

The increase, according to the CBN Economic Report for Fourth Quarter 2018, reflected the rise in both oil and non-oil receipts, including proceeds from government debts, Treasury Single Account (TSA), third party receipts, interest on reserves and investments, unutilised funds from foreign exchange transactions, unutilised International Money Transfer Operators’ (IMTO) funds and other official receipts.

CBN Governor, Mr. Godwin Emefiele had at the last

Monetary Policy Committee noted that the country has witnessed a convergence of the forex market.

According to Emefiele, there was a return of confidence by foreign investors as a result of the confidence in the management of the Nigerian foreign exchange market.

The CBN boss added: “As a result of the actions of the CBN, today all markets- in fact, the bureau de change market had come down to about N360. Today, they are even selling at slightly below N360.

“So, we have seen a convergence of the foreign exchange market in Nigeria today. When people sit and say that the economy has not done well, I think it is not a fair comment to be made both on government and monetary and fiscal authorities in the country today,” he added.

He submitted that going by the forgoing, the applicant has no confidence in the tribunal chairman to do justice fairly between parties in the suit, "as he is a man on a mission to please his masters.”

CJN to withdraw from the case.

"The CUPP has uncovered yet another dastardly plot by the federal government in their continued victimisation of the Chief Justice of Nigeria, Justice Onnoghen. This time around, the presidency has concluded the plot to force the CJN to resign at gunpoint, after all the mouth-watering offers was turned down by the courageous Justice Onnoghen."

"The federal government has resolved on the dual action that the Vice President Yemi Osinbajo would weigh in and coerce his colleagues, Senior Advocates to withdraw from defending the CJN and to resort to the use of security agencies to intimidate the legal team of the CJN. "Some of the Senior Advocates on the team of the CJN have been trailed, their offices and homes being circled and monitored, their telephones bugged and most of them have had reports from their bankers that their account statements have been obtained by the

security agencies and certain instructions placed on some types of transactions."

He further said the workers in the farm of the CJN located in Uke in Nasarawa State have been threatened to leave their place of work in the farm or pay with their lives by persons who disguised to be Fulani herdsmen.

He said, "We have credible intelligence that the visitors to the farm were arranged by government all to ensure the farm is crumbled and every other source of income of the CJN is blocked. The legal team of the CJN has written to the appropriate security agencies complaining of the warning and threats by the so called Fulani herdsmen."

Ugochinyere lamented that Presidency is clearly playing hide and seek with the security of the country, adding that the government has been encouraging and motivating the spread of fake news against the CJN.

caution the security services not to get involved because there are many of us who are also security officers; so don't come and tell us bullshit.”

The former vice president stressed that having recognised security as the number one problem of the state, he will make sure that the issue of insecurity in Taraba, North-east and in the whole Nigeria is addressed.

Atiku also promised to complete the Mambilla Hydro Electric Power, adding that all the federal roads would be taken care of.

According to him, “Taraba is one of the most endowed states in this country, we are going to exploit the natural resources, which is in abundance in Taraba, so that you can have prosperity; so that we can bring employment; so that we can create jobs for our teaming men and women.”

Also speaking, the National Chairman of the PDP, Prince Uche Secondus, said that the party would continue to insist that the Independent National Electoral Commission (INEC) conduct free, fair, credible and transparent election.

He said, “We believe that if INEC can conduct free and fair elections, the entire country will be peaceful. And that is why we will continue to hammer that the mandate

of INEC is to conduct free and fair election.”

Secondus therefore warned the security agencies against taking side with the ruling party and create crisis in the country.

“As for our security agencies, we have seen police being reformed; we have seen the DSS being reformed.

There are good people there and by the special grace of God, they will not defend an individual. But they will defend the constitution of our country. They are supposed to protect lives and property. ‘’We believe that if they take sides, that will cause crisis. And so, they must be neutral. We also advise our well-trained and esteemed Generals in the military that they are too quick.

Recently, they started posting people here and there. This is a country they have signed to protect, not to protect an individual. A tree does not make forest and nobody is God to Nigeria,” Secondus noted.

He called on the federal government to tackle the issue of Boko Haram in Borno, rather than using military to terrorise regions that it doesn't like.

On his part, Taraba State Governor, Mr. Darius Ishaku, assured the party that the state would be delivered to PDP in all the elections.

ONNOGHEN HINTS AT AGRIC AS SOURCE OF HIS WEALTH the Chairman of the CCT, Umar, to disqualify himself from handling his case of alleged failure to declare his assets pending at the tribunal.

The federal government is seeking to prosecute Onnoghen on a six-count charge bordering on failure to declare his assets.

Following a petition filed against Onnoghen by a nongovernmental group on January 9 at the Code of Conduct Bureau (CCB), the bureau accordingly approached the tribunal for the prosecution of Onnoghen.

Responding, the tribunal fixed January 14 for arraignment of the defendant, who though did not appear in court over improper service of the charge by the tribunal.

However, he challenged the jurisdiction of the tribunal to hear the case.

In the motion on notice dated February 4 and filed on his behalf by his lawyer, Chief Chris Uche, SAN, the applicant submitted that going by the

manner the tribunal chairman has conducted himself so far, he is not sure of getting a fair trial at the tribunal.

He added that comments and behaviour of the chairman were enough proof that he is acting a prepared script with the aim to convict the defendant to the pleasure of his 'paymaster.'

The motion on notice, which is brought pursuant to rule 12 (1) and (1A) of the revised code of conduct for judicial officers of Nigeria, 2016 under the inherent jurisdiction of the tribunal is seeking an order of the tribunal for the chairman of the tribunal, Umar to disqualify/recuse himself from further participating in the adjudication of the case on the grounds of real likelihood of bias.

The application is predicated on the grounds that the chairman constructively convicted the defendant sought to be arraigned before him without either hearing from him or being formally arraigned

before him.

Another ground is that the CCT chairman authored and signed an exparte order directing Onnoghen to step aside as CJN, even when he has not been convicted of wrongdoing, on account of a charge not yet before the tribunal and the defendant was yet to take his plea.

In further support of his claims of bias against the CCT chairman, the applicant noted that Umar had on January 23, entertained a motion exparte that was not moved by any known prosecutor bearing the same title, charge number as that of the defendant dated January 9, which he said substantially predetermined the guilt of the defendant without an arraignment.

The applicant also stated that Umar in the course of presiding over the case showed acts of partisanship by making decisions and orders as well as expressing opinions that were antagonistic to the applicant.

CUPP Alleges FG Wants to Force CJN's Resignation In a related development, the Coalition of United Political Parties (CUPP) yesterday alleged that it had uncovered a plot by the federal government to force Justice Onnoghen to resign. The spokesperson of the coalition, Mr. Imo Ugochinyere, in a statement, said the decision was taken after Onnoghen turned down all mouth-watering offers made to him.

Ugochinyere also alleged that Vice President Yemi Osinbajo and the Department of State Services (DSS) are threatening the legal team of the embattled

SARAKI: WITH PAN-NIGERIAN ENDORSEMENT, ATIKU NOW UNSTOPPABLE home to victory.

The Senate president spoke while reacting to the joint endorsement of the Peoples Democratic Party (PDP) presidential candidate by the Northern Elders Forum (NEF), Pan-Niger Delta Elders Forum (PANDEF), Afenifere, Middle Belt Forum (MBF) and Ohanaeze Ndigbo, and said it was an incontrovertible validation of the results of the scientific polls tipping Atiku to win.

Saraki, who is also the Director-General of the PDP Presidential Campaign Council, in a statement in Ilorin, Kwara State, stated that Atiku’s victory is now unstoppable.

He added that with the latest developments, Nigerians have taken a position that the President Muhammadu Buhari's claim of integrity and anti-corruption stance is nothing but an election gimmick.

He further stated that the three major pillars of Buhari’s 2015 electioneering, including economy, security, and anti corruption, which the president is still touting, have collapsed in the face of the realities on the ground.

He said the president had mismanaged the economy, worsened insecurity across the nation and encouraged and nurtured corruption from within his government.

Saying Atiku would win the election in a free and fair contest based on the scientific forecasts by the two groups, Saraki urged Nigerians to take a cue from the gale of endorsements and predictions by credible groups in favour of Atiku and vote wisely.

He said: “The endorsements are like tonic to the works of the campaign organisations to intensify our efforts as it is a testament that we are employing the right approach and techniques to market our candidates to Nigerians.

“We have been able to change the narratives. We have debunked a lot of lies and rumours being peddled around against our candidate and Nigerians are much more informed now.

“The ruling party knows that they could no longer deceive Nigerians because we have allowed the people know that they are all pretenders with their claims of credibility and anti-corruption posture.”

The Senate president said the fact that Nigerians expressed favourable opinions while the credible agencies were conducting their research showed that the PDP candidate would defeat the All Progressives Congress (APC) candidate next week Saturday.

Leading socio-political

organisations in the country, including NEF, PANDEF, Afenifere, MBF and Ohanaeze had on Sunday endorsed Atiku.

The leaders, who spoke on behalf of their groups were, Prof. Ango Abdullahi, Chief Edwin Clark, Chief Ayo Adebanjo, Chief John Nwodo and Dr. Bitrus Pogu.

They urged Nigerians to vote for Atiku because he would bring the change desired by the country.

Before the endorsements, a field work conducted by the Pollster, Williams and Associates, revealed that Atiku will defeat Buhari in the February 16 presidential election.

The agency had, in a similar fieldwork in 2015, predicted the defeat of President Goodluck Jonathan in the presidential election, using same methodology it employed now.

Similarly, a forecast by the Economist Intelligence Unit in Africa had revealed that Buhari would be defeated by Atiku, when they clash at the presidential poll next week.

Atiku: Security Agencies Have No Business in Electoral Process Meanwhile, Atiku has warned

security agencies against interfering in the electoral process, saying they have no business in the electoral process.

The former vice president, who gave the warning while speaking at the presidential campaign of the party in Jalingo, Taraba State, said security agencies’ role in the country’s electoral process is to maintain law and order.

Atiku stated: “Our security services have no business in interfering with our political process; that is not your work.

Your work is to make sure that there is peace, law and order.

It is not your business, it is not your business to interfere in our political process; this is not your constitutional responsibility at all.

“Your constitutional responsibility is to make sure that we are all safe. Any government that draws the security agencies, the police, the army, the civil defence, that government is doing more harm to your career; is doing more harm to your patriotism and more harm to yourself.

“Don't accept that; don't get involved; allow us to choose the leaders we want to choose and to elect the people we want to elect; it is not your business whom we elect at all. So, I want to

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T H I S D AY Ëž Ë&#x153; Í´Ë&#x153; 2019

COMMENT

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

LAGOSIANS RONU

Sonnie Ekwowusi urges Lagosians to exercise their free will

L

ast week, the apex Yoruba socio-cultural group Afenifere dissociated itself from Asiwaju Bola Tinubu and his supporters who are imposing candidate Muhammadu Buhari on the Yorubas and Lagosians for the second time.

In its statement entitled: Afenifere Disowns Impostors/ Tinubu Supporters, Afenifere states that it rejects Buhari because as a military man, Buhari did not only humiliate the founding leader of Afenifere Chief Obafemi Awolowo by invading his home but equally threw Awoâ&#x20AC;&#x2122;s successor Pa Adekunle Ajasin into prison even though Ajasin was not corrupt. Afenifere also says it rejects Buhari because â&#x20AC;&#x153;his rule has been unmitigated disaster for the Yoruba who have lost precious lives to Fulani herdsmen who have Buhari as their grand patronâ&#x20AC;?. Afenifere wonders why Tinubu is now turning round to spite the Afenifere which had brought him to stardom.

I have carefully reflected on the above issues raised by Afenifere.

I have no doubt whatsoever that they merit public commentary especially now that we are feverishly preparing to cast our votes in the 2019 elections. Constitutional democracy derives its legitimacy from the consent of the governed, and, in fact, exists to secure the natural rights with which we are greatly endowed by our Creator.

One of these natural rights denied Lagosians over the years is the right to freedom of expression and freedom of choice of a political candidate of oneâ&#x20AC;&#x2122;s choice at periodic elections. If democracy is the government of the people by the people, why shall we continue to travel along the road of decline with one man leading us by the nose? When a human being loses his freedom he loses his selfworth. Unlike animals, human beings are ontologicaly free beings.

Freedom is the capacity to choose, to choose what is good for one in all matters. Therefore the violation of the right to freedom of political expression of Lagosians or the freedom of Lagosians to choose the political candidates of their choice is, in my view, the greatest abuse of constitutional democracy.

In an age in which freedom has become synonymous with democracy Lagosians should cherish their political freedom and denounce all forms of political slavery. There are basically two forms of political corruption that are presently threatening good governance in Lagos Political godfatherism and political jobbery. Political godfatherism is a form of political corruption in which a political godfather who wields enormous political power corruptly assists a political godson to climb up the political ladder, on the consideration that the godson shares the spoils of office with the political godfather. Whereas political jobbery is simply the practice of corruptly making private profits or gains out of public office. Tinubu is a political godfather in Lagos. It is commonly said that Lagos is asleep when Tinubu is asleep and is awake when Tinubu is awake.

In constitutional democracy sovereignty resides with the people.

And one of the ways in which the people exercise this sovereignty

ONE OF THE WAYS IN WHICH THE PEOPLE EXERCISE SOVEREIGNTY IS TO VOTE FOR THE CANDIDATES OF THEIR CHOICE AT PERIODIC ELECTIONS

is to vote for the candidates of their choice at periodic elections.

Unfortunately the sovereignty of the people does not thrive in Lagos. Somehow Tinubu has become an arbitrary imposer of political candidates in Lagos State. For instance, in 2015 elections Tinubu assisted Mr. Mohammadu Buhari to win votes in Lagos.

Now in 2019 elections he is doing the same thing. Suffice it to say that in 2007 Tinubu did the same thing to Babatunde Raji Fashola in Lagos. As Fashola was about to leave office after his eight years stint as governor, Tinubu imposed Mr. Akinwunmi Ambode as Governor. Later Tinubu fell out with Ambode. Now Ambode is on his way out and a new man, Babajide Sanwo-Olu is on his way?

Today candidate Sanwo-Olu has rolled out the most expensive political campaigns in Lagos presumably funded by the state with tax payersâ&#x20AC;&#x2122; money. Meanwhile Lagos is now lawlessness writ large. Eko oni baje pata pata. Governance is in retreat in Lagos.

Confusion everywhere. Okada riders are ascending and descending everywhere. Owners of heavy duty trucks now park their trucks on Lagos bridges and expressways. This has resulted in chaotic vehicular traffic all over Lagos. Every day hundreds of thousands of Lagos motorists are held up in traffic caused by trucks parked permanently on Lagos bridges. Whereas LASTMA or FRSC can harass and extort money from innocent Lagos motorists with impunity they dare not harass the truck drivers or dare remove the trucks encumbering the bridges and highways and rendering them impassable.

Lagosians ronu ! Lagosians think! I donâ&#x20AC;&#x2122;t want to believe that critical thinking is eluding Lagos. Unexamined life, said Socrates, is not worth living. If Lagosians should realize their intrinsic worth and the purpose of life they would extricate themselves from the yolk of political slavery presently imperiling them.

Freedom from oppression of political jobbers or from coercive state regulation is the pre-eminent political objective in our democracy. Anyone interested in building a good democracy should desire to live in a community that cherishes freedom and virtue. Chief Obafemi Awolowo was never a slave driver. With a political ideology rooted in social welfarism he strove to promote the social wellbeing of his people. Besides, we are no longer living in feudal times. We are living in the 21st Century when the right to choose occupies a prominent place in democracy. So instead of remaining in the yolk of political slavery Lagosians must soar to greater height of freedom and victory. Omo eni onise idi bebere ka fi ileke si idi omo elomi. Society is immeasurably more than a political device to be exploited by political jobbers for their own benefits. According to Russell Kirk, if a society is treated as a simple contraption to be manipulated on mathematical lines then man will be degraded into something much less than a partner in the dubious immortal contract that unites both the dead, the living and the unborn.

BUHARI DESERVESâ&#x20AC;&#x2DC;FOUR PLUS FOURâ&#x20AC;&#x2122; The President deserves four more years, argues Waheed Alabede Should Buhari Get Four Plus Four?

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hat was the question posed by former presidential spokesman, Mr. Olusegun Adeniyi, in his â&#x20AC;&#x2DC;Verdictâ&#x20AC;&#x2122; column of January 10th, 2019 where he raised important issues that must be addressed. The goal of this article is to counter some of the observations by Adeniyi. The claim of Eurasia group about the second term of President Muhammadu Buhari will also be discussed.

A good opposition can force the incumbent to adopt specific campaign strategy. In a situation where the opposition demands issue-based campaign, the incumbent has no choice but to campaign on issues. The effort of the federal government (FGN) to engage former Vice-President Atiku Abubakarâ&#x20AC;&#x2122;s campaign on issues has been overshadowed by the inane campaign put up by the opposition. Adeniyi should rather put the blame for the current political discussions squarely on the Peoples Democratic Party (PDP).

In December of 2018, the same week the government announced that import bills dropped from $665.4m to $160.4m to buttress the point on the need to re-elect President Muhammadu Buhari, and the same week that Dr. Kingsley Moghalu (YPP presidential candidate) was also talking about restructuring, the PDP strategists were busy pushing the story of a cloned president. Atiku should therefore demand a refund from his political strategists for failing to effectively articulate (no puns intended) his position on issues with only about 10 days to the election.

Adeniyi also accused President Buhari of appointing the current ambassador to the USA because as a judge the ambassador had given a favourable judgement in a case involving the president.

Available facts revealed that Sylvanus Nsofor wrote a minority opinion regarding the election of 2003 in which he concluded that the police used force against members of the ANPP (Muhammadu

Buhariâ&#x20AC;&#x2122;s party in 2003) during the election. This point has never been contested by anybody, including President Olusegun Obasanjo who handed over to the late President Umaru Musa Yarâ&#x20AC;&#x2122;Adua a few years later. The second time he was nominated, Ambassador Nsofor was duly confirmed by the Senate. If the National Assembly had a problem with his relationship with the president, they could have rejected him again, but they didnâ&#x20AC;&#x2122;t. There is no favouritism. Period!

Adeniyi quoted Eurasia Group, an international security analyst firm that recently published a report on Nigeria election to back up his reason for saying the re-election of President Muhammadu Buhari will result in slow progress for the nation. Eurasia Group is a well-respected organization that specializes in forecasting risks around the world. This does not mean their predictions always come to pass. The model used by Eurasia Group for predicting slow progress during President Buhariâ&#x20AC;&#x2122;s second term is flawed. The Group conducted analysis that looked at Nigeria through the lens of America political system.

The Eurasia Group relies on the American political environment to determine that President.

Buhari will be a lame duck president in his second term in Nigeria. In the American political context, a president may be considered lame duck as soon as a successor has been elected. Although not often, a few political analysts also regard presidents as lame ducks in their second term especially during election season. During this period, ambitious politicians often donâ&#x20AC;&#x2122;t go along with the majority of the incumbent policies even when they belong to the same party. This creates a political environment where the president is not effective towards the end of their final term. It is noteworthy that the only similarity between Nigeria and America political system is the title of the leader.

While the leaders of both countries are referred to as president, the Nigeria president is more powerful

relative to Nigeria lawmakers than the American president relative to American lawmakers. A good example in recent memory was the election of President Yarâ&#x20AC;&#x2122;Adua. If a Nigeria president could be considered lame duck, Obasanjo would have failed in his bid to back President Yarâ&#x20AC;&#x2122;Adua at the end of his term in 2007 especially after the third term bid imbroglio. President Obasanjo also derailed the political ambition of his vice president during his second term due to what President Obasanjo claimed to be Mr. Atiku Abubakarâ&#x20AC;&#x2122;s lack of good judgement.

Americaâ&#x20AC;&#x2122;s political structure is different from Nigeriaâ&#x20AC;&#x2122;s. Hence, comparing the power of a second term president in Nigeria to that of America is an exercise in futility. Politicians are ambitious to the point that they will do anything to avoid getting in the bad books of a Nigerian president. A lesson Atiku learned the hard way. Lame duck presidency is an American invention that holds no currency in Nigeria political context. Since it is safe to assume that President. Buhari will not be a lame duck as claimed by EuroAsia Group, we can conclude that the next four years will be successful because the hypothesis of Eurasia Group analysis is not supported

by Nigerian political environment circumstances. The group further claimed that Atikuâ&#x20AC;&#x2122;s victory will create an artificial boost for Nigeria. The artificial nature of this boost is predicated on the fact that Nigeria will be perceived as having successfully and peacefully changed the government through the ballot box and the misconceived notion of a business-friendly Mr. Atiku. This conclusion is based on a flawed argument that suggests the February election will be flawed. If the election is relatively peaceful and adjudged to be free and fair like the 2015â&#x20AC;&#x2122;s, Nigeria will still receive a boost regardless of who eventually wins.

Lastly, another important issue worth mentioning is that incoming administrations often abandon

projects started by their predecessors in order to claim ownership. In this regard, President Muhammadu Buhari has shown a good leadership trait by diligently finishing projects he inherited from previous administrations. The new administration of President Buhari was interested in finishing all the abandoned projects as well as institute new projects.

This has helped Nigeria to stop the plague of abandoned projects that littered the nation. Some of the projects have been abandoned for over a decade due to a lack of political will.

For the first time in Nigeria, the government continues where the predecessor left off. This will build confidence in investors and contractors handling major projects. This week, a section of the Ibadan-Lagos light rail will be tested. Adeniyi should endeavour to test the train out and share his experience with the readers.

The government does not need to engage the PDP in an unproductive campaign because it has a record of achievements to showcase. A few of which are Increase in electricity generation from 3500mw to 7000mw in four years, vigorous investment in infrastructure, farmers anchor borrowers programme that has helped reduced food import bill, school feeding programme, major market electrification, etc.

What Adeniyi should realize is that the PDP is not able to debate the President Buhari administration on achievements or plans hence the strategy of doctored videos that some have dubbed the Dubai strategy. The Atiku campaign has abandoned a plan that was supposed to be the backbone of its strategy. It has failed to muster enough courage and enthusiasm to challenge the ruling party. As the election is approaching, the answer to the question posed at the beginning of the article is unmistakably clear. President Muhammadu Buhari deserves another four-year term.

Alabede is a political, economic and ďŹ nancial analyst

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T H I S D AY WEDNESDAY, FEBRUARY 6, 2019

EDITORIAL Electrocution: The Need For Sanctions Electricity distributing companies which are negligent should be punished

D

ying cheaply is increasingly becoming a way of life in Nigeria. But the recent electrocution in Anguwan Sarkin Hausawa, Bosso Local Government Area, Niger State, of a mother and her four children as a result of power surge should compel action. A few days earlier, a 34-yearold electrician was similarly electrocuted in Abuloma community in Rivers State. He was said to be reconnecting light under heavy rainfall when a wire fell on the rooftop of the building, leading to his electrocution.

The list of people who have died as a result of this avoidable tragedy is long. Notwithstanding the increasing number of fatalities, it is a crying shame that the National Assembly has not deemed it fit to enact any law that will protect consumers from the carelessness of the power companies. That the authorities take the safety of Nigerians with levity can be glimpsed from the ‘Electrical Safe Distance Standard in Nigeria’ guidelines from the committee established by UNTIL THERE ARE the Minister of Power, SANCTIONS FOR Works and Housing, CRIMINAL NEGLIGENCE, Babatunde Fashola.

The main concern in THE AUTHORITIES IN the report is about the THE POWER SECTOR protection of power WILL NOT DEVELOP assets. Yet, the most THE HABIT OF QUICK critical element in this RESPONSE TO matter is the lack of appropriate sanctions to COMPLAINTS the power companies that are practically left to get away with murder.

The Network for Electricity Consumers Advocacy of Nigeria (NECAN) has for years been raising alarm on the growing number of fatalities as a result of negligence and defective systems in the distribution arm of the industry.

According to NECAN National Secretary, Uket Abonga, statistics of the 2017 fatalities reveal that 86.8 per cent of the victims were electricity consumers while the remaining 13.2 per cent were officials of the electricity companies.

That should be enough to compel the authorities in the power sector to meaningful action but they carry on as though it is not important that many of our citizens are dying for no fault of theirs.

The investigations carried out by NECAN, according to Abonga, “reveal that many of the accidents that occurred in the preceding year in the sector can be attributed to man-made factors, which include inadequate knowledge, information and ignorance on the part the consumers and operators, system protection equipment failures, in some cases total absence of protection devices, poor and aging transmission network lines, aging distribution networks which used to be replaced, poor response to complaints of faulty facilities and lines by staff of the transmission and distribution companies.”

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

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

hat electricity company workers ignore early warnings and appeals from residents about faulty wires in their neighbourhoods is a major challenge. In several places across the country today, there are many old and broken down wooden and concrete electricity poles, some with naked wires dangling overhead. It only takes a serious rainfall or heavy wind to blow off some of the poles. In such a situation, inhabitants of the affected areas or even passers-by live in constant fear of instant death.

What the foregoing says very clearly is that we place little or no premium on human lives in Nigeria and if we are to develop, that culture has to change. We therefore implore both the National Assembly and the management of the power sector in our country to come up with stringent policies to deal with this negligence that has sent thousands of Nigerians to untimely death.

While the Nigeria Electricity Regulatory Commission (NERC) has made some feeble statements about the ugly development several times, no action has been taken to curb the disaster. Yet, until there are sanctions for criminal negligence, the authorities in the power sector will not develop the habit of quick response to complaints about fallen electricity poles and exposed wires that are sending many Nigerians to untimely death.

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NYSC, SKILL ACQUISITION AND ENTREPRENEURIAL DEVELOPMENT

T

he National Youth Service Corps (NYSC) was created by the federal government in order to involve young compatriots in the country’s progress and improvement. Following the Nigerian Civil War between 6th July 1967 and 15th January 1970, the Supreme Military Government under the leadership of General Yakubu Gowon launched its post-war 3Rs ( Reconciliation, Rehabilitation, and Reconstruction) agenda. This agenda gave birth to the NYSC on May 22, 1973.

The idea behind the creation of the NYSC was to develop and encourage better connection among young Nigerians with a view to ensuring national unity. Part of the goals of the scheme include inculcating discipline in the Nigerian youths by instilling in them a tradition of industry at work and of patriotic and loyal service to the country in any situation they may find themselves.

Like all government’s policies and programmes, despite its shortcomings, the NYSC scheme has over the years succeeded, in its own little way, in fostering unity in the country. Through the programmes, a few inter-tribal marriages, which ordinary might not have taken place, have been consummated. Equally, some of the corps members, seeing the limitless possibilities for prosperity in their host communities, have stayed back in those communities (irrespective of tribal and ethnic differences) to earn a living through various legitimate means. Similarly, through various means of social interactions, a few of the corps members have been able to learn, speak and understand the languages spoken in their places of primary assignments.

Indisputably, the NYSC scheme has over the years been a uniting factor. It is, however, gratifying to note that the coordinators of the scheme are taking advantage of the platform to empower corps members for better economic opportunities, especially after the completion of the

scheme. This is a quite smart and creative move by the leadership of the scheme, particularly in view of the unemployment situation in the country.

In March 2012, the NYSC leadership introduced Skill Acquisition and Entrepreneurship (SAED) Programmes into the NYSC orientation course content. The goals of the scheme include sensitization and mobilization of young graduates for skill acquisition annually and facilitation of training and mentoring of young graduates in skill acquisition and entrepreneurship development of self-reliance annually. Others include promotion of public-private partnership for entrepreneurship development and self-reliance among Nigerian youths and attachment of corps members to appropriate organizations for skill acquisition and entrepreneurship development.

The SAED scheme is an initiative driven to aid Corps members in obtaining necessary skills that will encourage them in turn to pursue entrepreneurship careers in order to reduce their possible time spent in the labour market in search of paid employment. The SEAD Department is made up of two divisions namely: Skills Acquisition and Entrepreneurship and Empowerment.

To institutionalize the scheme, the federal government raised the number of departments in the NYSC from seven to eleven with of Skills Acquisition and Entrepreneurship Development as one of the new departments. The introduction of SAED into the NYSC Scheme has helped lots of fresh graduates to be self-reliant, creating employment opportunities instead of searching for white collar jobs. The project is a nationwide initiative, targeted at young graduates who are mobilized and deployed for the NYSC scheme. It is designed to be implemented within the framework of camping exercise (in-camp) and the service year of the corps members (post-camp).

The in-camp phase of the project focuses largely on creating the entrepreneurial and self-reliance spirit, helping corps members explore income generation opportunities available, with a view to identifying the one that best suits their personality/circumstances and professional training with some forms of hands-on training as well as development of business plans. The post-camp phase provides the platform for a rigorous training of interested corps members with a view to equipping them with the necessary technical/vocational skills as well as business competence needed to start up business.

This is carried out in partnership with various organizations with cognate competence and experience in the identified skill sets. There are about ten skill sets which cut across various sectors of the economy, ranging from energy, construction, agro-business and environment.

The training focuses more on Poultry, Snailry, Animal Husbandry, Fish Farming, Plantain and Banana Sucker Plantation, Catering, Bead Making, Fashion Designing, Hairdressing and Make-up, Photography and Graphics Designing.

NYSC partners with several companies and training outlets across the country to obtain and provide the very best to the nation’s corps members at subsidized rates, courses and live training programmes developed by sponsors to equip them with skills pertaining to independent sustenance and business management understanding as well.

Today, the SAED policy is one of the few in the country that is really helping in empowering and preparing the youths for productive engagements. From its inception till date, no fewer than 971,272 corps members have benefitted from the skill acquisition programme while over 7000 have established their preferred business.

Bola Omotosho, NYSC. Ministry of Information & Strategy, Alausa, Ikeja

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T H I S D AY ˾ WEDNESDAY FEBRUARY 6, 2019

MIDWEEKPOLITICS

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

PRESIDENTIAL PODIUM Driven by a Passion to Salvage Nigeria Udora Orizu

nomic status of educational personnel through improved conditions of services.

Aggressive training of teaching personnel and enforcement of the requirement that the National Certificate in Education shall be the minimum qualification for primary school teachers.

K

ingsley Chiedu Moghalu is a Political Economist, lawyer, and professor in International Business and Public Policy at the Tufts University Fletcher School of Law and Diplomacy. Professor Moghalu was born in Lagos in 1963. Nnewi, the famous commercial town in Anambra State, is his hometown. He obtained a master’s degree in 1992 at The Fletcher School of Law and Diplomacy at Tufts University. He later obtained a PhD in International Relations at the London School of Economics and Political Science at the University of London.

He led implementation of reforms to Nigeria’s failing banking sector when he served as Deputy Governor of financial system stability and the Director of the Central Bank of Nigeria (CBN), from 2009 to 2014.

In February 2018, Moghalu declared his interest to run for the Presidency of Nigeria. He chose to run on the platform of the Young Progressives Party (YPP). On September 8, he emerged the Presidential Candidate of YPP. On January 25 2019, the leadership of the Alliance for New Nigeria, (ANN) and Young Progressives Party, (YPP) merged to form a new coalition known as ‘The Force’, which they said was to help salvage Nigeria from those they said have held her hostage for far too long.

Economy The Economy of Nigeria has been in the doldrums for nearly two decades. Successive regimes have attempted to put it back on sound footing through a mixture of policy measures, but the economy has failed to respond adequately and appropriately. The economic objectives envisaged by the party will strive to achieve a self-reliant economy that will depend on the strength of the nation’s resources and on the efforts of our peoples.

Consequently, the following shall be the key thrusts of party’s policies and action: Poverty alleviation, self-sufficiency in food production, full and gainful employment for all citizens, diversification of the economy in order to reduce reliance on oil, improvement of and efficiency in tax collection systems, reduction of the gap between the rich and the poor, thereby creating the middle class that will strengthen democracy, promotion of innovation and technological development and industrialization. The policy of privatization of the Nigerian economy shall be encouraged and expanded.

Agriculture YPP principal programme shall be the development of agriculture and our objectives shall be aimed at, self-sufficiency in food production throughout the year, making agriculture as a major source of industrial raw materials and foreign exchange earner. YPP government shall facilitate the access to cheaper and better agricultural inputs, including farm tools, chemicals, fertilizers, improved livestock breeds. Encourage plantation agriculture, especially in the area of arable and economic tree crop production.

Stimulate the massive production of farm animals particularly poultry birds, cattle and others. Embark on massive irrigation schemes by emphasizing small-scale dams to provide irrigation water as well as other agricultural research institutions. Facilitate the access of farmers to agricultural loans. Revitalise and modernize the farm settlement system to increase agricultural productivity, check rural urban migration and make farming attractive as profitable and prestigious occupation to farmers, young school leavers and bring more land under cultivation and irrigation.

Health Our government shall present a comprehensive health care policy for the country, the essential aim of which shall be, health care for all citizens. YPP government shall ensure that all Nigerians, particularly children 0-5 years and the aged shall have access to free medical services. Provide free immunization to all children. Progressively establish primary health centres, equipped with pharmacies, within the reach of every Nigerian, particularly the rural dwellers.

Progressively provide General hospitals in all local governments headquarters and specialist hospitals in all state capitals.

Equip and expand the teaching hospitals in the country. Embark on mass training of paramedical personnel to meet the needs of our rural populace. Provide incentives for medical practitioners and other medical personnel with particular emphasis in those located in remote areas. Stimulate local production of Medical drugs and other supplies. Regulate private hospitals, medical clinics and pharmacies to protect Nigerians against exploitations and make and enforce stringent laws against the manufacturing and sale of fake drugs, promote a healthy physical environment by intensifying the present periodic environment sanitation exercises.

Moghalu

Rights The YPP recognises that the constitution of the Federal Republic of Nigeria guarantees the fundamental human rights of every Nigerian citizen. Right to life, right to dignity of human persons, right to eradicate corrupt practices, right to personal liberty, right to fair hearing, right to private and family life, right to freedom of thought, conscience and religion and right to freedom of expression and the press, right to peaceful assembly and association, right to freedom of movement, right to medical consultation, right to freedom from discrimination, right to primary education and right to acquire and own immovable property anywhere in the federation. Our government will respect these rights and however ensure Nigerians enjoys and exercise these rights

The party’s strategy is to ensure that every Nigerian does not only enjoy his or her fundamental right, it shall also ensure that he or she does so without undue government interference and simplify the processes of seeking redress in the event of the violation of any of the rights

within limits imposed by the laws of Nigeria. The party’s strategy is to ensure that every Nigerian does not only enjoy his or her fundamental rights, it shall also ensure that he or she does so without undue government interference. Simplify the processes of seeking redress in the event of the violation of any of the rights.

Support the human rights organizations in Nigeria to enable them complement the efforts of the government in promoting human rights awareness and education and in the checking human rights abuses and encourage and assist the Human Rights Organization in the country in conducting their affairs in a responsible and mature manner.

Education Education is an important social instrument for national unity amongst the diverse peoples of Nigeria. The party in government shall, ensure that the educational system is improved upon, develop an educational framework T-bar is Nigerian oriented but of world standard.

YPP in government shall pursue the promotion of pre-primary education by encouraging the establishment of private nursery schools in such a way that every Nigerian child shall have the opportunity to start education at the nursery level; provision of free and compulsory primary education, free, compulsory and qualitative senior secondary education.

We will ensure the expansion of unity schools system as models and as instrument of fostering national unity. There will be greater involvement of private individuals and agencies in the delivery of education services, subject to government regulation. The YPP government will ensure the establishment of adult and continuing education centre to promote mass literacy among Nigerians. Provide technical educational institutions with well-equipped workshop and adequate and well-trained teachers. There shall be encouragement of the establishment of private universities, polytechnics and colleges of education subject to government regulation and adequate funding of university education.

The YPP shall raise the social and eco-

Internal Security and Defence The YPP government shall ensure promotion of policies aimed at guaranteeing security of lives and safety of property.

Ensuring discipline, probity and accountability among security agents. Improving police-community relations and provision of humane prison system.

Our government shall endeavour to stem the wave of violent crimes in Nigeria by: equipping the Nigeria Police Force with modern equipment, promoting the establishment of state police, providing more relevant professional training opportunities to the force, at local and international training institutions, motivating the police force with enhanced conditions and environment of service.

The government shall pursue a deliberate policy of penlightenment and educating programme about the actual roles of the police and their relationship with the civil society. Providing enlightenment programme for the public on how to complement the work of members of the police force. We will reorganize the prison system to ensure decongestion of prisons and improved accommodation for inmates and the provision of more positive rehabilitation programmes.

Our party’s objectives on defence shall be on national security in all it’s ramifications, creation and maintenance of armed forces capable not only of discharging the afore-stated responsibility, but also using them to support our foreign policy objectives and recruitment into the Armed forces to reflect the federal character.

The party shall ensure a high standard of professionalism through constant training. Provide sufficient funds that will enable the defence industries corporation produce various types of weapons for defence, deterrence and retaliation. We shall engage in community programs that will foster total belief in Nigerians, and consequently promoting total security consciousness by all Nigerians. Pursue a deliberate policy of self reliance, the policy of local production of arms, military equipment and command, control and communication system that will enhance the combat readiness of our armed forces, boost their morale and enhance capability.

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T H I S D AY ˾WEDNESDAY FEBRUARY 6, 2019

STATE OF THE POLITY

For Saraki, It’s a Make or Mar Fight in Kwara

Abdulrazaq

Hammed Shittu

T

here is no doubt that, the current political situation in Kwara State, ‘State of Harmony’, ahead of the coming general election is charged.

The battle for the Ahmadu Bello Government House, Ilorin after the eight-year rule of Alhaji Abdulfatah Ahmed has continued to heat up the political scene.

Unlike the 2015 general election, when it was easy to predict the outcome of the election, this time, no one knows who will take mantle of power from Governor Ahmed on May 29, 2019.

However, at the last count, about 35 gladiators are said to be interested in the plum position.

Out of this number, only five gladiators are said to be waxing stronger on the political scene of the state. They can boast of a good presence in 193 wards.

The leading governorship candidates include, Peoples Democratic Party (PDP) candidate, Hon. Razak Atunwa. He has served as commissioner in various offices since 2004 under former governor Bukola Saraki. He was a former commissioner for Lands, Information and Home Affairs, Works and Transport and Finance. He was later elected into the state house of assembly representing Onire/Owode state constituency and later emerged as the Speaker of the Kwara State House of Assembly in 2011.

He was also later elected into the House of Representatives for Asa/Ilorin West federal constituency in 2015 and emerged as the Chairman, House Committee on Judiciary.

Atunwa’ “1” as he is fondly called by his supporters in the state possesses both executive and legislative exposure to take over the mantle of leadership of the state after Governor Ahmed.

Atunwa who has since commenced his rallies ahead of the election pledged to consolidate on the good governance of successive governments in the state. He also promised to bring new lease of life to the doorsteps of the people. His campaigns have been based on issues that would touch the lives of the common man in the state especially in the area of rural development, education, health, roads and welfare of workers among others.

In the APC, though, the party parades two candidates; namely, Alhaji Abdulrahman Abdulrasaq and Hon. Abdulwahab Omotose.

While Alhaji Abdulrasaq is being backed by the National Working Committee of the party, Hon.Omotose is being backed by the Ilorin High Court ruling. Recently, the Independent National Electoral Commission (INEC) has shortlisted the name of Alhaji Abdulrahman Abdulrasaq as the authentic candidate of the APC for March 2, governorship polls in the state thereby putting an end to the controversy over the authentic APC candidate for the poll.

Alhaji Abdulrasaq is a businessman who specialises in oil and gas. He has been vying for political positions in the state especially senatorial position without winning in the

Aremu

past. As a candidate of the APC, many have debated the possibility of deploying strong arm tactics by the APC-led federal government to dislodge the PDP from the control of the state. It will be noted that, his campaign slogan of “O to Ge”(enough is enough) has taken over major towns and villages in the state. It has provided a rallying platform for the opposition groups to mobilise their supporters for the polls in the state.

Alhaji Abdulrasaq has commenced his campaigns across the length and breadth of the state, soliciting the support of the people of the state to vote for him and APC during the forthcoming general election.

He has promised to bring good governance and a welfarist programme to the people of the state.

Kwara State governorship candidate of the Labour Party (LP) and former Deputy National President of the Nigeria Labour Congress (NLC), Comrade Issa Aremu, is an activist and his experience as a foremost labour leader remains the tonic for his desire to lead the state. He has been campaigning across the state to ensure the electoral success of the Labour Party in the poll. Aremu has also promised to revive the moribund industries in the state in order to address unemployment in the state.

In the Abundant Nigeria Renewal Party (ANRP), Dr. Mummin Ajia youthful candidate in his late 30s is the youngest of them all. He was a former Personal Assistant to the former National Chairman of the PDP, Alhaji Abubakar Kawu Baraje. He has garnered support from the youths in the state. His campaign promises include a pledge for educational advancement of the state. He has also promised to address the health, infrastructural deficit and youth unemployment among others.

The Accord Party (AP) governorship candidate, Prince Ayorinde Adedoyin is another notable gladiator that has been canvassing across the 193 wards in the state. Adedoyin is one of the sons of foremost business mogul cum industrialist, Prince Samuel Adedoyin and hails from Agbamu in Irepodun council.

He has carved a niche for himself in the race by embarking on various social intervention programmes for the people of the state even before he signified his ambition. He has constructed many boreholes across the state, while alleviating the suffering of the people. He has been moving around the state, promising to add more value to the people if elected. He has also promised to improve on education, health, roads, youths and women empowerment.

Various factors will moderate on the political calculation of the state. Since the defection of former governor of the state and Senate President, Dr. Bukola Saraki and his supporters to his former party, Peoples Democratic Party (PDP), ,the political situation of the state has changed as the opposition has continued to mount pressures on the Saraki dynasty with a view to wrestling power from the dynasty. The opposition is so serious that they have allegedly embarked on a campaign of calumny against Saraki

Atunwa

and the administration of Governor Ahmed.

However, the ovewhelming acceptability of the political leadership of Saraki has continued to neutralise any allegation and against the administration. Saraki’s achievements have continued to serve as impetus to the administration of Governor Ahmed.

Another factor that will influence who wins the Kwara governorship race is the issue of some foot soldiers of Saraki who fell out with him over irreconcilable political differences. They have since joined hands with the opposition groups in the state in a bid to stop the Saraki dynasty from the political control of the state. These political foot soldiers had wined and dined with the dynasty for over three decades and had benefited immensely from the Saraki political structure.

Among the foot soldiers that had dumped Dr. Saraki are former Secretary to State Government (SSG) Alhaji Saka Cook Olododo who is now the House of Representatives candidate of APC for Ilorin South/Ilorin East federal constituency, former Special Adviser to Saraki on Special Duties, Hon. Moshood Mustapha and former Special Adviser on Security Matters, Hon.Yinka Aluko.They have pitched their tent with APC and vowed to dethrone the dynasty in the coming election.

Political pundits in the state, however, believe that the opposition groups are not likely to dislodge the established political structure of the Saraki dynasty that has been entrenched for over forty years. The Saraki political structure cuts across the state and this will be deployed to outwit any opposition.

Also, zoning continues to be a major issue in the state. The people of the Kwara North senatorial district have vowed not to support any party that fails to pick its governorship candidate from the zone. It will be noted that, all the major political parties in the state failed in this direction as some of them picked their candidates from Kwara central senatorial district of the state.

The parties that fall into this category include APC, Alhaji Abdulrahman Abdulrasaq; the PDP Hon.Razak Atunwa, the LP, Comrade Issa Aremu, the Action Alliance (AA) Mr. Ismail Bakare and the ANRP Dr. Mummin Ajia.

Others are Alhaji Murtala Tunde of Action Congress Party of Nigeria (ACPN) , Mr. Yahaya Kale Saadu of MAJA, Hon. AbdulAzeez Yinka Oniyangi of NPM, Mr. Ibrahim Abdullahi Anifowose of MRDD and Mr. Belgore Ahmad Kawu of JMPP. Some of the parties hinge their decision to pick their candidates from Kwara central senatorial district on the number of votes from that senatorial district. At least, over 60 per cent of votes usually comes from the Kwara central senatorial district; while other senatorial districts account for the remaining votes.

But the leadership of the PDP in the state led by Dr. Saraki recently signed a pact with the people of Kwara North senatorial district in the state to address the concerns of the

people of the Kwara North zone on the governorship of the state.

In the pact, the party’s gubernatorial candidate, Hon. Razak Atunwa would only serve one term if the PDP wins the forthcoming election.

By that arrangement, the people of Kwara North senatorial district would produce the next governor of the state come 2023. The pact also outlined that the positions of the Speaker of the Kwara State House of Assembly and Secretary to the State Government (SSG) will be conceded to zone if PDP wins.

The agreement was signed in the presence of the stakeholders from the zone that included royal fathers, youths and women among others.

The outcome of the by-election in Isin / Irepodun /Ekiti/Oke-Ero federal constituency where the APC candidate, Hon. Raheem Olawuyi Ajuloopin won, brought a new dimension to the political calculation. After the by-election, the leadership of the PDP returned to drawing board to re-strategize ahead of the general election, in order to correct their inability to win the by-election.

The development has led to a new approach by the PDP in the area and they have been mobilising day and night to outwit the APC. The result of the presidential election on February 16 will affect the political permutation for the governorship race. The PDP has been working round the clock while APC on its part is not resting too.

Speaking on the forthcoming general elections in the state at the recent official commissioning of the state secretariat of APC in Ilorin, the Information and Culture Minister and leader of APC in the state, Alhaji Lai Mohammed said that, the APC will win the forthcoming general election in the state.

He said, “the people of the state have seen the need for a good alternative and APC is ready to provide such for Kwarans.”

Mohammed who said that, the people of the state should vote out PDP added that, “the PDP government has failed to bring the much expected good governance.”

Also speaking at the PDP rally in Gwanara town in Baruten council, Senate President and leader of PDP in the state, Dr. Bukola Saraki called on the people of the state to vote out President Muhammadu Buhari and the APC-led federal government so as to bring a new lease of life to the state and the country in general.

According to him, “Things are very difficult generally in the country and we all need to be ‘Atikulated’ to get Nigeria working again.”

The Senate President blamed the non construction of Ilesha-Gwanara road on the non cooperative attitude of the APC-led federal government, assuring the monarch that the road shall be constructed once the PDP returns to power.

The two leading political parties, APC and PDP have been engaging themselves in a battle of wits in the state. The APC has hinged its campaign on the slogan, ‘O to Ge’ (enough is enough), while the PDP’s battle cry is ‘O Tun Ya’ (Let’s Continue).

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FEATURES

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

Drumming Support for Return of Stolen Benin Artefacts Adibe Emenyonu writes on the intensive campaign by both the Edo State Government and the Benin Monarch to drum support for the return of Benin artefacts looted by British soldiers in 1897

E

very student of history will recall with nostalgia, the story of the invasion of Benin Kingdom by British soldiers in 1897. Apart from the loss of lives, which is usually recorded in every war situation, the soldiers led by Captain Phillip, also looted the kingdom and carted away most of its cherished heritage, bronze casts and other sacred images.

More than a hundred years after the invasion, these Artefacts are still scattered in various museums in Europe and America with the looters unperturbed.

However, there had been vigorous campaigns by the palace of the Oba of Benin, appealing to governments and museums where the artefacts are kept to return them to the original owners.

Incidentally, most of these artworks have spiritual connotation. A good number of them tell the history of the great empire and it's glory dating back centuries before the invasion.

Just three or four years ago, during the administration of Adams Oshiomhole, now All Progressives Congress (APC) National Chairman; one of Capt. Phillip's grandsons returned two of the original bronze casts, which was taken by his forebears, back to Benin.

He confessed to journalists of the numerous nightmares he has been having whenever he sets his eyes on the sacred images, which he said prompted him to travel all the way from Britain to submit his own share of the loot.

L-R: Maria Wiesner, Editor at Frankfurter Allgemeine Zeitung and Dr. Lutz Mucke, Journalist and Advisor, Frankfurter Allgemeine Zeitung, after a meeting with Governor Godwin Obaseki, on the need for a global awareness campaign on the return of stolen Benin artefacts, Monday at Government House, Benin City

EDOFEST Just like his predecessor, the present state government in Edo, led by Godwin Obaseki has intensified call for the return of these artefacts stolen from Benin Kingdom by the British colonialists.

To show its seriousness in the campaign, an exhibition of photographs of the prized artworks and their locations in Europe and America was exhibited during the state festival of arts and culture, codenamed "EDOFEST".

Exhibition of the photographs and their locations as gathered, became necessary to avoid denial of possession of the artefacts from those still housing them and making huge sums of money out of the artefacts.

German Touch This was amplified by Dr Lutz Mukke, a German journalist and academic, who took the photographs of the looted Benin artefacts, and was also on ground during the exhibition.

He said the photographs were the result of his journalistic investigation into the looted Benin artefacts at different museums around the world.

Mukke disclosed that up to 90 per cent of the important cultural artefacts were taken away from Africa, and suggested that a "new deal" between Africa and the Western world was needed to fast-track the return of the stolen artefacts.

He noted that the stolen Benin artefacts totalling between 4,000 to 6,000 could be found in about 60 Western museums with the biggest collections in the British Museum in London, Ethnographical Collections in Berlin, Germany; Metropolitan Museum of Arts in New York, United States of America; and Boston Museum of Fine Arts, also in the United States of America.

He also said that the German government has called on all public museums housing about 1000 looted Benin artefacts to return them.

"The photographs shown in the exhibition are from the museums in Boston and New York in the United States of America; Vienna in Austria; Stockholm in Sweden, Con Berlin, Dresden, Munich and Leipzig in Germany and London, United Kingdom.

"The artefacts are of course priceless as cultural heritage, but that does not mean we should forget their pure money value. The stolen Benin artefacts are estimated to be $1 billion" Mukke said.

The Unveiling Unveiling the photographs inside a gallery at the palace of the Benin Monarch, Omo N' Oba N' Edo, Uku Akpolokpolo, Oba Ewuare II, in Benin City, Edo State Commissioner for Arts, Culture, Tourism and Diaspora Affairs, Mr. Osazee Osemwegie-Ero, said the state government would continue to advocate for the return of the stolen artefacts.

He explained that the state government chose

R-L: Commissioner for Basic Education, Dr. Joan Oviawe; Commissioner, Culture, Tourism and Diaspora AďŹ&#x20AC;airs, Osaze Osemwegie-Ero, and Dr. Lutz Mucke, Journalist and Advisor, Frankfurter Allgemeine Zeitung, at the Photo Exhibition on Looted Benin Artefacts, at the Oba of Benin Palace the Edo Festival for Arts and Culture (EDOFEST) event to scale up the campaign, in order to reach more people with the message, adding that "the artefacts represent part of the Benin history."

The stolen Benin artefacts totalling between 4,000 to 6,000 could be found in about 60 Western museums with the biggest collections in the British Museum in London, Ethnographical Collections in Berlin, Germany; Metropolitan Museum of Arts in New York, United States of America; and Boston Museum of Fine Arts, also in the United States of America

Exhibited photographs of the stolen artefacts by Dr Lutz Mukke, a German journalist and academic Benin Royal Museum He further noted that the Governor Godwin Obaseki-led administration has made provision for N500 million in the 2019 budget of the state, for the establishment of a Benin Royal Museum in collaboration with the Oba's Palace, where the artefacts would be kept on return.

On his part, a prince of the kingdom, and Former Vice Chancellor (Administration), University of Benin, Prof. Greg Akenzua commended the organisers of the photo exhibition, and disclosed that the palace of the Benin Monarch, was working

with 13 museums to establish the Benin Royal Museum in the state.

He maintained that the call for the return of looted artefacts across the world was gaining traction, citing the French President, Emmanuel Macron, who has promised that his country would return some of the stolen artefacts to their original owners.

According to him, "We are working with 13 museums who have agreed to work with us in the establishment of the Royal Museum. We have set a timeline of three years to put the structures on ground," Prof. Akensua added.

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PERSPECTIVE

Sierra Leone's Anti-corruption Initiative: Popular Disenchantment Versus Elite Anxiety Lindsay Barrett in Freetown

T

he inauguration of three Commissions of Inquiry into financial transactions undertaken by the former government of the All Peoples Congress (APC) led by Ernest Bai Koroma in Sierra Leone has provoked conflicting reactions in that nation. It was immediately obvious that the incumbent Government of the Sierra Leone Peoples Party (SLPP) led by former Brigadier Gen. Julius Maada Bio has touched a popular nerve in the community when demonstrators representing various aggrieved interest groups gathered outside the venue to advocate support for the initiative. Almost as soon as the ceremonies were concluded the APC issued a release challenging the legitimacy of the Commissions and vowing to resist cooperating with them unless certain legal strictures that they wanted were observed.

Judging from comments in the local press and social media the issues at stake for most Sierra Leoneans have been distilled into support for calling their leaders to account for their stewardship of the nation's resources on the one hand and allowing evidence of the looting of government coffers to go unpunished or even unchallenged on the other. This division of viewpoints has become the main talking point in Sierra Leone itself as well as among the country's vast diaspora ever since the swearing in of the three judges from Ghana, Nigeria and Sierra Leone as chairmen of the three panels.

The Sierra Leone Bar Association has taken issue with the country's Attorney General Ms. Priscilla Schwartz following her speech at the inauguration in which she appealed to the members of the law profession to desist from litigious challenges to the Commissions' existence. which she characterised as being against the spirit of the times, The Bar Association's contention is that there are challenges in Court that might be considered sub judice and therefore not appropriate subject for comment by anyone least of all the Chief Lawyer of the Administration. However some observers have called this response "disingenuous", saying that there is no evidence that the AG's appeal referred to any of the cases in court and that she simply sought to encourage the law profession to support the process of free and fair investigations to go ahead without unnecessary obstacles being placed in the way of full disclosure, The high table at the inauguration, President Bio and wife (4th and 3rd from left) are flanked by Attorney Genersl Schwartz and speaker Abass Bundu (1st and 2nd left) and on the right Chief Justice Babatunde Edwards and the Judges from Nigeria Sierra Leone and Ghana who will Chair the Commissions of Inquiry.

This assumption is based on the basic principles that motivated the government's decision to establish the Commissions. These were articulated in an earlier statement issued by the Rt, Hon Dr. Abass Bundu Speaker of the Sierra Leone Parliament who is regarded as one of Sierra Leone's most erudite and knowledgeable legal luminaries.

Dr. Bundu who was once the Executive Secretary of ECOWAS is remembered for among other things overseeing the establishment and deployment of ECOMOG, West

Demonstrators outside of the venue during the inauguration

The high table at the inauguration, President Bio and wife (4th and 3rd from left) are ďŹ&#x201A;anked by Attorney Genersl Schwartz and speaker Abass Bundu (1st and 2nd left) and on the right Chief Justice Babatunde Edwards and the Judges from Nigeria Sierra Leone and Ghana who will Chair the Commissions of Inquiry Africa's pioneering peace keeping force. His utterances on the conduct of governance in West Africa carry the weight not only of his vast experience but also of his role as one of the most outspoken advocates of the transition from authoritarian governments to democratic administrations in the region. He insisted that the constitutional provisions for parliament to promulgate a law establishing the Commissions of Inquiry would be followed to the letter, The debate and deliberations on the issue were subjected to a tedious process that took well over two months to complete and the eventual vote in favour of government's resolve was victorious in spite of the fact that APC has more seats in parliament than the SLPP. In his statement on the main objective of the initiative he asserted that government's main purpose is to find out the truth about allegations tabled by a high-powered committee that handled the transition but more importantly he insisted they were to set the parameters for honest and dedicated service by public officers, He warned that those who are in office now should take note of the fact that they too could one day be called to account as the process is not meant to be

either partisan or biased. Bundu has in fact posited that the successful performance of the Commissions will enhance the nation's potential as an investment destination.

President Bio's keynote speech at the inauguration was short and to the point. After reminding the audience of his own inaugural Presidential address in which he promised to wage war on indiscipline corruption and poverty he declared, "Corruption remains the single most critical deterrent to the development of Sierra Leone. It impedes human capital development which is the most critical driver of development in every country." He followed this categorical declaration by recounting a catalogue of the malpractices of past officials who stole resources meant for the welfare and development of the people and then declared his stand in the following memorable words, "And we must also be very clear that when people who occupy public offices steal public monies or engage in other forms of corruption, they do not do so on behalf of their tribe, their region or their political party.

Rather, they do so as individuals or a group of individuals and they must be held accountable. Corruption is a threat to our national

development and national security.

Corruption is a clear and present danger to the life of every Sierra Leonean and a threat to our existence as a nation. We must confront corruption head on. We must be bold and resolute. We must fight and win this war on corruption."

After he set the tone with this direct declaration of commitment President Bio's supporters in the audience and outside among the demonstrators uttered loud approbation and support reflecting a mood that has permeated the public space ever since the initiative was announced by the Government. The threats uttered by some erstwhile politicians and their supporters to refuse to cooperate with the Commissions of Inquiry have generated much discussion locally and most commentators so far have shown a clear inclination to regard such threats as the product of culpable anxiety meant to delay the presentation of verifiable evidence of irregular conduct on the part of some erstwhile elite beneficiaries of privilege from the past administration. President Bio warned that such obfuscation might very well result in dire legal consequences for the individuals rather than for his government.

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L-R: Oyo State Governorship candidate of the All Progressives Congress, Chief Adebayo Adelabu; AlaaďŹ n of Oyo, Oba Lamidi Adeyemi; and Oyo South Senatorial District candidate of the APC, Governor Abiola Ajimobi; when the partyâ&#x20AC;&#x2122;s campaign trail visited the monarch in his palace, Oyo...recently

L-R; Founder and Spiritual Leader of INRI Evangelical Spiritual Church, Lagos, Primate Elijah Ayodele; DirectorGeneral, Center for Democratic Governance in Africa,( CDGA) Dr. Dafe Akpocha;and Director Protocol,CDGA, Pastor Chizee Awo,at the presentation of distinguished Gold Service award to Primate Elijah Ayodele by CDGA in Lagos...recently PHOTO: ETOP UKUTT

Head, Association of Chartered CertiďŹ ed Accountants (ACCA) Nigeria, Mr. Tom Isibor (Left) and Chief Executive, Stanbic IBTC Bank Plc, Dr. Demola Sogunle during the inauguration of the revamped Stanbic IBTC (Blue Academy) Learning & Development Centre in Lagos...recently

L-R: ANN Party, House of Rep. Candidate, Ferdinand Adimefe; APC House of Rep. Candidate, Babajide Obanikoro; PDP, House of Rep. Candidate, Tony Bakare; SDP House of Rep. Candidate, Tessy Owolabi; and MDP, House of Rep. Candidate, Wellington Bankole, during a political debate by the candidates of the ďŹ ve political parties vying for Eti Osa Local Government House of Representatives position. in Lagos....recently PHOTO:SUNDAY ADIGUN

Action Democratic Party(ADP) candidate,Otunba Christopher Adebayo Alao-Akala(left) and the Iba of Kishi,Oba (Dr)Masoud Aweda Lawal,Arowodoye 11 during the visit of Akala campaign trail to Irepo Local Goverment,Kishi,Oke-Ogun,Oyo state...recently

Executive Chairman of Ikosi Ejinrin LCDA, Hon. Onanuga Samson Adeniyi (Right) receiving the 2018 Personality of the Year award from the Council Manager, Mr. Akintola Wasiu (l) following its conferment on him by the management and staďŹ&#x20AC; during the New Year Thanksgiving/Award Ceremony of the LCDA in Lagos...recently

L-R: Regional Director, Airtel Nigeria, Mr. Olushina Adegoke; Baale, Ilaje Community, Chief Sunday Ogunkeyi; Chairman, Eti- Osa East LCDA, Hon. Olufunmi RaďŹ u Olatunji and Director, Corporate Communications and CSR, Airtel Nigeria, Mr. Emeka Oparah during the Airtel Touching Lives Season 4 Prize Presentation of Borehole with Water Treatment Plant to Ajah- Ilaje Community in Lagos...recently

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BUSINESSWORLD R A T E S MONEY MARKET OVERNIGHT OBB

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F E B R U A R Y S & P INDEX INDEX LEVEL 1-DAY MONTH-TO-DATE

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

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Quick Takes Gulder Introduces â&#x20AC;&#x153;Own Their Journeyâ&#x20AC;?

PROMOTING INVESTMENT

L â&#x20AC;&#x201C; R:Director General Debt Management Office (DMO), Ms. Patience Oniha; Chief Executive Officer, Nigerian Stock Exchange, Mr. Oscar Onyema; Executive Vice Chairman, Famfa Oil Limited, Mrs. Folorunsho Alakija; Author of the Book, â&#x20AC;&#x2DC;Riding the Eagle- A Guide to Investing in Nigeriaâ&#x20AC;&#x2122; and Group Chief Executive Officer, Emerging Africa Capital Group, Mrs.Toyin Sanni, and Acting Director General, Securities and Exchange Commission, Ms. Mary Uduk, during the formal launch of the book in Lagosâ&#x20AC;Śrecently.

Report: Nigeriaâ&#x20AC;&#x2122;s Economic Confidence at 12-month Low Obinna Chima Nigeria recorded its lowest economic confidence score in a year, after a fall in the final quarter of 2018, the latest edition of the Global Economic Conditions (GECS) from the Association of Chartered Certified Accountants (ACCA) and the Institute of Management Accountants (IMA) has revealed.

According to the report, in the midst of a poor near-term outlook, a fall in oil prices was expected to weigh on exports and government revenues.

These were highlighted in a survey of 82 Nigerian accountants.

Speaking on the findings about Nigeria, the Head, ACCA Nigeria, Mr. Thomas Isibor, said the report found that despite an improvement in the non-oil economy, consumer demand

ECONOMY was soft and restrained by a 23 per cent unemployment rate.

He pointed out that overall, Gross Domestic Product (GDP) growth in 2019, was likely to be modest at between two per cent and 2.5 per cent. â&#x20AC;&#x153;Presidential elections in February increase uncertainty in the near term but the outcome may result in more business friendly policies,â&#x20AC;? he added.

Also, the Head of Business Insights at ACCA, Narayanan Vaidyanathan said: â&#x20AC;&#x153;Economic confidence over 2018 has been turbulent, with end of calendar year results downbeat compared to the start of 2018. â&#x20AC;&#x153;Itâ&#x20AC;&#x2122;s been interesting to look back at the GECS from the start of 2018, when we recorded economic confidence at its

highest since the first survey was issued assessing Q1 2009. Last year was clearly a roller-coaster ride and the outlook for 2019 is also uncertain.â&#x20AC;?

The global poll of 3,800 accountants showed that all key regions recorded a negative confidence score with signs of growth weakening in the worldâ&#x20AC;&#x2122;s three biggest economies - the US, China and the Eurozone.

Global economic confidence fell for the third consecutive quarter in Q4 2018, ending the year at an all-time low.

The survey revealed respondents were pessimistic about the outlook ahead, with the lowest scores recorded in Western Europe and the Caribbean.

The least pessimistic part of the global economy was again South Asia, followed by Africa and North America.

Given Nigeriaâ&#x20AC;&#x2122;s low revenue

generation level, the government said it was considering what it described as tough measures to achieve higher revenue.

Minister of Finance, Mrs. Zainab Shamsuna Ahmed, disclosed this while speaking at the Deloitte Nigeria 2019 Economic Outlook in Lagos recently.

The minister had reiterated that the government was planning higher Value Added Tax (VAT) and excise duties for carbonated drinks produced in Nigeria, â&#x20AC;&#x153;for which companies do not pay excise.â&#x20AC;?

According to her, â&#x20AC;&#x153;We still need to do more to achieve higher revenue outturn. Peer comparison on our ability to convert Gross Domestic Product (GDP) to revenue for capital and social investment- key drivers of Continued on page 24

10 Banks Facilitate N139trn Investment on FMDQ OTC Securities Exchange Goddy Egene Stanbic IBTC Bank Plc, Access Bank Plc, Ecobank Nigeria Limited led the top 10 banks that facilitated N139.13 trillion investment in fixed securities and currency on the FMDQ OTC Securities Exchange in 2018.

The 10 banks accounted for 76.1 per cent of the N182.856 trillion total transactions in the market in 2018, according data obtained by THISDAY. However, Stanbic IBTC Bank Limited, Access Bank Plc and United Bank for Africa Plc ranked first, second and third respectively. The three banks were responsible for N81.13 trillion trading, which is about

INVESTMENT 58.31 per cent of the total market turnover for the year.

Standard Chartered Bank Nigeria Limited occupied the fourth position, while Ecobank Nigeria Limited occupied the fifth position. Other banks among the 10 are: First Bank of Nigeria Limited, Citibank Nigeria Limited, Guaranty Trust Bank Plc, Coronation Merchant Bank Limited and Zenith Bank Plc. An analysis of the FMDQ OTC Securities Exchange turnover in 2018 showed that treasury bills accounted for the highest, recording N72.123 trillion transactions. It was followed by foreign exchange

(forex), which recorded N43.975 trillion transactions, while repurchase agreements/buyback recorded N30.179 trillion.

Forex derivatives accounted for N23.748 trillion, just as FGN Bonds recorded N11.8 trillion among others.

A total of 46 securities were registered and quoted on the exchange in 2018. The securities comprise 13 bonds and 33 commercial papers (CPs).

Since it commenced operations about five years ago, the FMDQ OTC has helped to deepened the financial markets general and debt capital markets in particular.

Following its long-time agenda to foster market integration, improve network effects and promote liquidity in

the Nigerian financial markets, FMDQ last launch of its Dealing Member Specialists (DMS) Market, which went live on December 19. According to the exchange, that unprecedented market development initiative came on the back of the fragmentation identified in the fixed income market and will provide seamless integration of the fixed income inter-bank market -FMDQ Dealing Member Banks DMBs and the securities dealers, who are Members of the newly-created membership category.

The DMS category is a subset of the FMDQ Dealing Member category, which also warehouses the DMBs and is made up of Continued on page 24

In a renewed move to compete in the years ahead, promoters of Gulder, from the stable of Nigerian Breweries, have announced the brandâ&#x20AC;&#x2122;s new brand positioning going into 2019.

Known as the ultimate beer and for its sleek golden brown bottle with the iconic helmet, Gulder will now be extending its market penetration by redeďŹ ning the brand to Nigerians, urging them to own their journey. The â&#x20AC;&#x153;Own Your Journeyâ&#x20AC;? phrase has just been introduced as the beer brandâ&#x20AC;&#x2122;s tagline, as Gulder seeks to alter its messaging to reďŹ&#x201A;ect its current brand position and craft a better narrative that can connect with its target audience.

A statement explained that the fresh brand perspective would oversee some new creative directions which would further help distinguish Gulder from all other competing beer brands. â&#x20AC;&#x153;Plans are already in place to launch a series of events that will cut across various media channels to communicate the fresh new identify of the Gulder brand,â&#x20AC;? the brewer explained.The beer brand in 2018, introduced its bold new label design. The new label design showcased the product strongest brand assets, â&#x20AC;&#x2DC;The Gulder Knightâ&#x20AC;&#x2122;, which is faced forward giving the brand a more progressive outlook and a new tagline inspired by a fresh perspective themed â&#x20AC;&#x153;Looking Forwardâ&#x20AC;?.ThischangefurthercementedGulderâ&#x20AC;&#x2122;spositionasthedrink for the modern man. Since its launch in 1970, Gulder has often set high standards, achieving various milestones during its illustrious years as the â&#x20AC;&#x153;The Ultimate Beerâ&#x20AC;?.

Heritage Bank Partners Powerlifting Body

The Managing Director/Chief Executive OďŹ&#x192;cer of Heritage Bank Plc, IďŹ e Sekibo has tasked stakeholders in the sports industry to key into the vision of the bank to help build a generation of healthy and strong athletes as well as set a platform that will continue to create,preserveandtransferwealthandtalentsacrossgenerations.

The MD made the remark at the grand ďŹ nale of the just concluded 2019 Lagos International Para-Powerlifting Championship hosted by the Lagos State government. Sekibo who represented by the Divisional Head, Corporate Communications of the bank, Fela Ibidapo noted, â&#x20AC;&#x153;At Heritage Bank, we understand the importance of sports as an essential part of education, national development and a unifying factor in our diverse cultural setting. â&#x20AC;&#x153;Hence, our vision as a generational bank; is one poised to help create, preserve and transfer wealth across generationsâ&#x20AC;? in all spectrum of life.â&#x20AC;?

Nigeria emerged the overall winner of the competition, winning the 20 gold medals on oďŹ&#x20AC;er to assert its world dominance in the sport. It also won 15 silver and 7 bronze medals, making a total of 42 medals. Cote dâ&#x20AC;&#x2122; Ivoire and Cameroon also registered their names in the invitational tourney with three bronze medals each, while Ghana went home with two bronze medals.

OPPO Completes 5G Video Call

OPPO, a global smartphone brand has become the ďŹ rst smartphone technology company to complete a multiparty video conferencing call on a 5G network. OPPO is increasingly gaining attention all over the world for its classy smartphone designs, unbelievably camera quality, seamless user experience and most recently, its 5G capabilities. Engineers from six diďŹ&#x20AC;erent OPPO Research and Development institutes around the world participated in the video call using WeChat, a popular Chinese social media app, with â&#x20AC;&#x153;Hello OPPO, Hello 5G,â&#x20AC;? being the ďŹ rst words spoken. This breakthrough made the company the ďŹ rst smartphone technology company in the world to make a multiparty video call on a 5G network.

Earlierthisyear,OPPOwastheďŹ rstcompanyintheworldtocomplete 5Gsignallinganddataconnectionsonasmartphone. Completingthe ďŹ rstmultiparty5GvideocallonasmartphonefurthershowsOPPOâ&#x20AC;&#x2122;s technologicaledgeinthedevelopmentof5Gsmartphonesandbrings the company a step closer to being one of the ďŹ rst manufacturers to release5Gsmartphonescommerciallyin2019.Itsfounder,president and CEO, Tony Chen, stressed at the recent Technology Exhibition in Shenzhen, that â&#x20AC;&#x153;OPPO will fully integrate 5G with applications and user insights, and continuously innovate to provide users with revolutionary, necessary, convenient and seamless experiences.â&#x20AC;?

â&#x20AC;&#x153;As most financial observers have noted, the FX rates across various markets governed and regulated by the CBN, have been converging, leaving no room for arbitrage opportunities in Nigeriaâ&#x20AC;&#x2122;s FX market. For avoidance of doubt, the CBN will continue to act in the best interest of Nigeria and shall ensure it remains focused on its core mandate of sustaining the stability in the FX marketâ&#x20AC;?

Director, Corporate Communications Department, CBN,

Mr. Isaac Okorafor

24

T H I S D AY Ëž Ë&#x153; Í´Ë&#x153; Ͱ͎ͯ͡

REPORT: NIGERIAâ&#x20AC;&#x2122;S ECONOMIC CONFIDENCE AT 12-MONTH LOW

PPPs: Public Sector Skills Gap Worries FG

sustainable economic growth -show that we have a lot to do to catch up. Nigeria must mobilise significant resources to invest in human capital development and critical infrastructure. â&#x20AC;&#x153;Indeed, some reforms will be tough, but it must be done if we will look at the facts and be frank to ourselves. Given the low revenue to GDP ratio (currently at about seven per cent), we must pursue optimal revenue generation,â&#x20AC;? she added.

Speaking further, Ahmed said the federal governmentâ&#x20AC;&#x2122;s recently launched Strategic Revenue Growth Initiatives (SRGI) aims to boost revenue generation in order to meet â&#x20AC;&#x153;our targeted revenue to GDP ratio of 15 per cent as set out in the Economic Recovery and Growth Plan (ERGP).â&#x20AC;?

The minister noted that in 2018, the federal government recorded revenue of N6.9 trillion, which according to her was unsatisfactory.

James Emejo in Abuja

10 BANKS FACILITATE N139TRN INVESTMENT ON FMDQ OTC SECURITIES EXCHANGE securities dealers, including investment banking firms, securities trading/stockbroking firms and OTC fixed income dealers licenced to make market in all fixed income products admitted for trading on the FMDQ platform.

FMDQ said in the last three years, it has worked with the Securities and Exchange Commission (SEC) and market participants to create the DMS market, and this new market affords both the SEC- registered Nigerian Stock Exchange (NSE) as well as FMDQ dealers the opportunity to trade together in a liquid fixed income market operated by banks, who are the foundation members of FMDQ. The participation of DMSs in the Nigerian fixed income market will not only enhance liquidity, but also serve as an efficient channel for FMDQ to integrate retail participants into the Nigerian fixed income market.

Group Business Editor

Obinna Chima

Capital Market Editor

Ă&#x2122;Ă&#x17D;Ă&#x17D;ĂŁ Ă&#x2018;Ă?Ă&#x2DC;Ă?

AgriBusiness/Industry Editor

Ă&#x2122;Ă&#x2DC;Ă&#x2039;Ă&#x17E;Ă&#x2019;Ă&#x2039;Ă&#x2DC; äĂ?

Comms/e-Business Editor

Ă&#x2014;Ă&#x2014;Ă&#x2039; Ă&#x2022;Ă&#x2122;Ă&#x2DC;Ă&#x201D;Ă&#x201C; Senior Correspondent

Ă&#x2039;Ă&#x2019;Ă?Ă?Ă&#x2014; Ă&#x2022;Ă&#x201C;Ă&#x2DC;Ă&#x2018;Ă&#x152;Ă&#x2122;Ă&#x2013;Ă&#x; (Advertising) Correspondents

Ă&#x2019;Ă&#x201C;Ă&#x2DC;Ă?Ă&#x17D;Ă&#x; äĂ? (Aviation) Ă&#x201C;Ă&#x2DC;Ă&#x17D;Ă&#x2039; Ă&#x153;Ă&#x2122;Ă&#x2022;Ă? (Labour) Ă&#x153;Ă&#x2122;Ă&#x2014;Ă&#x2122;Ă?Ă?Ă&#x2013;Ă? Ă&#x152;Ă&#x201C;Ă&#x2122;Ă&#x17D;Ă&#x;Ă&#x2DC; (Cap Mkt) Ă&#x201D;Ă&#x201C;Ă&#x2122;Ă?Ă&#x2122;Ă&#x153; Ă&#x2013;Ă&#x201C;Ă&#x2022;Ă? (Energy) Ă&#x2039;Ă&#x2014;Ă?Ă? Ă&#x2014;Ă?Ă&#x201D;Ă&#x2122; (Nationâ&#x20AC;&#x2122;s Capital) Reporters

Ă&#x;Ă&#x2014;Ă? Ă&#x2022;Ă?Ă&#x2018;Ă&#x2019;Ă? (Money Market) Ă&#x2122;Ă?Ă&#x2039; Ă&#x2013;Ă?Ă&#x2022;Ă&#x2019;Ă&#x;Ă&#x2122;Ă&#x2018;Ă&#x201C;Ă? (Maritime)

The federal government has expressed its determination to put an end to what it described as lack of competence on the part of the public sector compared to their private sector counterparts.

This, according to the government, leads to situations whereby the country had been denied value for money and often ended up being short-changed in the execution of Public Private Partnerships (PPPs).

Permanent Secretary, Office of the Secretary to the Government of the Federation, Political and Economic Affairs, Mr. Gabriel Aduda, said worried by the development, government has taken steps boost the negotiation skills of the public sector to enable them secure better deals for the country going forward.

Speaking at the opening of a Public Private Partnership Financing Policy and Law Masterclass organised by the Infrastructure Concession Regulatory Commission (ICRC), he stressed the need for the country to seize the opportunity in PPPs to bridge its huge infrastructure deficit.

He said: â&#x20AC;&#x153;Often times, between the two basic participants, the private and public sector, you find adequate knowledge coming from the investor end and often times, government on the other hand is lightly equipped. But we are saying not anymore. â&#x20AC;&#x153;So we want to see how government can better equip itself to enhance its negotiation skills and methodologies such that

whenever we engage in PPPs, we ensure that government is getting value for money and that government is not being short-changed and that at the end of the day, they will ensure economic growth and Nigeria is better for it.â&#x20AC;?

Aduda said: â&#x20AC;&#x153;The truth of the matter is that we cannot afford to be left behind. The only way we can meet our infrastructure development needs as a nation is to go on public private partnerships. â&#x20AC;&#x153;The infrastructure masterplan says we have a backlog that is

estimated at about $3 trillion and that is a lot of money. â&#x20AC;&#x153;Government will not be so rich enough to provide that kind of money. The only way we would be able to do and meet our infra deficit is to join hands with the private sector for PPP to be able to pull our weight and be able to deliver on infrastructure. â&#x20AC;&#x153;And as we all know, expand and provision of infrastructure directly turns into job creation, opening up spaces and opportunities, overall economic growth a day so we cannot afford to be

behind. This is what developed nations have done and that is what we need to do.â&#x20AC;?

However, the Director General/Chief Executive, ICRC, Mr. Chidi Izuwah, commended President Muhammadu Buhari for his continued to support the ICRC particularly the recently establishment of the ICRC infrastructure academy.

He said the idea was to capacitate Nigerians in Infrastructure delivery similar to the Project Academy in the UK. He said: â&#x20AC;&#x153;So that public servants and the private sector

have the capacity because thatâ&#x20AC;&#x2122;s essentially the most important thing. â&#x20AC;&#x153;In 2018, we have done very well... But we need to build on the successes because the infrastructure is huge and it is only when we accelerate in a massive manner that infrastructure delivery that we can create a Nigeria of our dream and take the country to the next level.â&#x20AC;?

He said massive infrastructure projects should be expected this year following the signing of Executive Order 007 by Buhari.

BUSINESS ACQUISITION

L-R: Finance Director, Coca-Cola Company, West Africa Business Unit, Sanjeev Kumar; President,Mr. Peter Njonjo; Chairman, Tropical General Investment Group (TGI), Mr. Cornelis Vink; Group Managing Director, Mr. Rahul Savara and Group Executive Director, Mr. Jerome Shogbon, at the formal signing ceremony of Coca-Colaâ&#x20AC;&#x2122;s acquisition of Chi Limited in Lagosâ&#x20AC;Ś recently

With Egina,TotalTargets 23% of Nigeriaâ&#x20AC;&#x2122;s Daily Oil Production Chineme Okafor in Abuja Multinational oil company, Total, has said it will be responsible for 23 per cent of the total crude oil Nigeria produces daily when its 200,000 barrels a day (bd) Egina Floating Production Storage and Offloading (FPSO) oil platform fully comes on stream.

Managing Director, Total, Mr. Nicolas Terraz, said this at the just concluded second edition of the Nigeria International Petroleum Summit (NIPS) in Abuja.

Represented by Totalâ&#x20AC;&#x2122;s Deputy Managing Director, Deepwater, Mr. Ahmadu-Kida Musa, Terraz, explained that oil output from Egina alone would represent 10 per cent of Nigeriaâ&#x20AC;&#x2122;s daily output.

He added that the Egina has also recorded a lot of industrybased milestones. â&#x20AC;&#x153;Totalâ&#x20AC;&#x2122;s projects in Nigeria have been industry benchmarks with regard to efficiency and innovation. The one on the lips of everyone at the moment is Egina. â&#x20AC;&#x153;Egina will add 200.000 barrels of oil per day to Nigeriaâ&#x20AC;&#x2122;s current production and this represents about 10 per cent of Nigeriaâ&#x20AC;&#x2122;s current production. â&#x20AC;&#x153;With Egina, Total will be operating about 23 per cent of the national production and we are proud to be significant contributors in securing Nigeriaâ&#x20AC;&#x2122;s oil and gas future. Egina set unprecedented records of local content and capacity building,â&#x20AC;?

Terraz, said.

He further noted: â&#x20AC;&#x153;For us,

Egina stands as a great testament to Totalâ&#x20AC;&#x2122;s commitment to Nigeria and our determination to support and advance local content development. 77 per cent of man-hours worked on the project was done locally with 60,000 tons of equipment fabricated in Nigeria by local contractors, in addition to drilling records and integration of six locally fabricated top side modules in Lagos.â&#x20AC;?

Terraz, called on industry operators to share experiences in areas of efficiency and innovation, as part of measures to save cost and work safer in oil and gas operations. â&#x20AC;&#x153;Our industryâ&#x20AC;&#x2122;s future is one which like other realities of life, is full of uncertainties.

The vicissitudes in the global

geo-political terrain, technological innovations within the industry that challenge existing production templates, innovations outside the industry that the industry cannot afford to ignore and which dovetail with demands for alternative sources of energy beyond fossil fuels, concerns for the environment, and the fluctuations in the price of oil, make efficiency in the use of resources, and innovation, a sine qua non. â&#x20AC;&#x153;Efficiency and innovation are key enablers if we have to work safer, reduce costs, make faster and better decisions, and generally increase productivity. â&#x20AC;&#x153;It is therefore, necessary that we share our best practices and experiences in this gathering to enable us adapt and quickly take

actions that will sustain us in the far and immediate future,â&#x20AC;? he added. According to him, Total has been present in Africa for more than 90 years and has been involved in exploration activities in Nigeria for 57 years.

He said it was the only oil company with presence across Nigeriaâ&#x20AC;&#x2122;s oil and gas spectrum â&#x20AC;&#x201C; upstream; downstream and midstream sectors. â&#x20AC;&#x153;We have a broad and diversified portfolio in Nigeria, with activities spanning onshore, conventional offshore, deep water and LNG. Indeed, Total is the only integrated international oil company with presence throughout the entire value chain of the industry in Nigeria - downstream, upstream and midstream sectors.

â&#x20AC;&#x2DC;How Lack of Succession Plan Affects Businessesâ&#x20AC;&#x2122; Ugo Aliogo An alumnus of the Harvard Business School, Bode Adetoyi, has identified lack of succession plan as one of the major problems affecting the growth of businesses in Nigeria.

Bode, who is also the Chief Executive Officer of Hi- Nutrients International Limited, disclosed this Lagos recently, during the occasion of his 50th birthday celebration. He described how he built his company from the scratch to an international brand which attracted Neovia, a leading global brand in animal nutrition

for a merger and acquisition.

Neovia, an Agro-allied company with its headquarter in France had on June, 18 2018, announced that it has acquired majority stake in Hi-Nutients, which according to Bode was the premix market leader in Nigeria. Bode noted that the acquisition subsequently positioned Neovia to develop and introduced Wisiumâ&#x20AC;&#x2122;s portfolio to a promising new market.

According to Bode, â&#x20AC;&#x153;Many African businesses are stunted or died because the owners of the businesses hold to them 100 percent even when it is obvi-

ous they needed partnership or merger with other global brand to move on. â&#x20AC;&#x153;It is only in Nigeria and Africa you see business owners holding on to their businesses until they die. Most African businesses hardly outlive the owner, this is because of lack of succession plan and over protection of business even when it becomes obvious there is need for partnership or acquisition. â&#x20AC;&#x153;When I founded Hi Nutrients,a company that specialises in production of Premixes, vitamins, and minerals for dairy cows and aquaculture

in 2004, I told myself that this is a company that will grow to become a global brand some day and outlive me, I thank God the dream has come to pass today,â&#x20AC;? he said.

Bode, advised business owners on the need for effective record keeping and integrity, adding that this was what attracted Neovia to his company, when they were looking for an inroad into African market through partnership or acquisition of companies in Africa. â&#x20AC;&#x153;Always keep proper records of your daily business activities, when you buy petrol into your

car, keep the receipt, even when you buy recharge card keep the record because these are the records that would show anyone how accountable you are. It is also important you make integrity your watchword, this is your social capital and it is more than money, trust in business world can get you capital,â&#x20AC;?

Bode noted.

The event provided an opportunity for the launch of his book entitled: â&#x20AC;&#x2DC;The Entrepreneur,â&#x20AC;? which explained the principles of building a successful business in an environment that is not so business friendly.

T H I S D AY Ëž Ë&#x153; Í´Ë&#x153; Ͱ͎ͯ͡

25

Keystone Bank Introduces â&#x20AC;&#x2DC;Cheque Depositâ&#x20AC;&#x2122;in Mobile App Nume Ekeghe Keystone Bank Limited, has introduced â&#x20AC;&#x2DC;Cheque Depositâ&#x20AC;&#x2122; feature in its new â&#x20AC;&#x2DC;Keystone Mobile App.â&#x20AC;&#x2122; The initiative was introduced in its bid to eliminate the stress of going into the banking hall to file cheques.

The feature enables customers to pay cheques into their accounts at their convenience through their mobile phones even with zero data.

Speaking on the development, the Group Managing Director/CEO of Keystone Bank Limited, Dr. Obeahon Ohiwerei, was quoted in a statement to have said the new feat was in demonstration of the bankâ&#x20AC;&#x2122;s commitment to continuously deliver superior

and innovative banking solutions to its customers. â&#x20AC;&#x153;The Keystone Bank brand is built on meeting and exceeding customer expectations by providing simple and convenient banking services at all times. â&#x20AC;&#x153;With the new cheque deposit feature, you have one less reason to make that trip to the bank. â&#x20AC;&#x153;In our fast-paced and evolving digital world, service literally has to be at the speed of thought; the rules of engagement are changing so fast that customer expectations are as diverse as our lifestyles and choices. â&#x20AC;&#x153;It is no longer a question of stepping out to the bank but about the convergence of innovative services, digital technology and Omni-channel platforms coming to us at

breakneck speed. â&#x20AC;&#x153;Mobile Banking for one isnâ&#x20AC;&#x2122;t entirely new in the industry, but there is no end to innovation in delivering customer convenience; at Keystone Bank thatâ&#x20AC;&#x2122;s what sets us apart and that shall continue to be our strength. â&#x20AC;&#x153;We are determined to be your preferred bank; dependable, responsive and always within reach,â&#x20AC;? Ohiwerei stated.

Some other notable features of the mobile App are, zero data banking (which enables customers enjoy banking services on their mobile phones without data), easy account opening, convenient self- booking and liquidation of fixed deposits, an expanded list of bills-payment options and easy activation of standing instructions & recurrent future payments.

IPI Solutions Unveils New Management Ugo Aliogo The IPI Solutions Nigeria Limited has unveiled its new management team.

The new management is made up of young individuals that have distinguished themselves in the technology industry in the past.

The new management team, most of whom joined the company years ago, includes the Chief Operating Officer, Olayemi Tawheed currently the Isaac Oluwasola, appointed as the Chief Cloud Architect/Head Business Solution Department.

Others were Frank Ndigwe, as the Chief Sales Officer and Onyekachi Mgbechi, General Manager, Abuja Operations.

The IPI Solutions Nigeria Limited, Chief Executive Officer, Adamu Garba, expressed hope

that the new management team was well prepared professionally in areas of technology deployment as enabler of modern business.

He said the new team would bring a combination of extensive industry experience, operations improvement and global best practices to bear in ensuring that, â&#x20AC;&#x153;all our customers have the right platform of technology.â&#x20AC;?

According to him, â&#x20AC;&#x153;The new management team within the business units at IPI Solutions will also focus on fuelling the companyâ&#x20AC;&#x2122;s continued expansion into other new innovation conformable to fourth industrial world. â&#x20AC;&#x153;The concept of work expected is from ideation and conceptualisation to implementation of harmoni-

ous digital solutions that will induce new experiences for all our clients and stakeholders. â&#x20AC;&#x153;The company is focused and truly on a mission-critical for its customers and partners.

The new management team (at IPI) has got a proven track record of maximising the growth potential of a range of businesses, by leveraging on technology platforms. â&#x20AC;&#x153;They are all coming on board as an already successful, energetic team at the perfect time to make contributions in areas of providing fourth industry technology transformation, advisory consulting, cybersecurity, managed services, business services, professional sales and operational expansion.â&#x20AC;?

Kwara Internal Revenue Service Rakes N23bn Hammed Shittu in Ilorin The Executive Chairman, Kwara State Internal Revenue Services (KWIRS), Professor Muritala Awodun, has disclosed that the agency raked in N23 billion in 2018.

He, however, said â&#x20AC;&#x153;We know we are not there yet, our potential internally generated revenue (IGR) projection in 2015 was N5 billion monthly. if we are just at N2 billion, we are not there yet.â&#x20AC;?

The KWIRS boss made the declaration in Ilorin during the agencyâ&#x20AC;&#x2122;s annual interaction with journalists on its activities in the

previous year.

He said though the agency had increased the state IGR from the N6 million monthly it inherited in 2015, to N2 billion, the agency aimed at achieving N5 billion monthly. He said the state had moved up to the ninth position, out of the 36 states, in terms of the top revenue generating states in the country. He added that, the state was ranked second after Lagos by Africaâ&#x20AC;&#x2122;s Report Index which according to him, was based on the stateâ&#x20AC;&#x2122;s success in poverty reduction, access to electricity, Ease of Doing Business, amongst others. Speaking on the community impact activities of

the revenue agency, Awodun said 723 direct jobs have so far been created by the agency in addition to 2,500 indirect jobs created.

On project and infrastructure development, the revenue boss said 40 projects that were abandoned before the coming on board of the agency due to dwindling resources have been completed with additional new ones being commissioned across the state.

He said the projects were made possible with the Infrastructure Fund (I-Fk) fund of the state government which mandates the agency to commit N500 million monthly.

AMCON MD, 15 Others Win Award The Managing Director/Chief Executive Officer, Asset Management Corporation of Nigeria (AMCON), Mr. Ahmed Lawan Kuru, was among the recipients of the â&#x20AC;&#x2DC;Businessday Excellence in Public Service Awards 2018.â&#x20AC;&#x2122; A statement explained that Kuru was one of the 16 public and civil servants that were recognised and honoured by the newspaper at an event that took place in Abuja recently.

Reading the citation of Kuru before he was presented the

award, which was received on his behalf by Mr. Jude Nwauzor, Head, Corporate Communications, AMCON, the organisers said Kuru deserved to be celebrated because under his watch at the helm of affairs at AMCON, the corporation has sharpened its focus on recovery of debts, while keeping a disciplined check on its operating expenses.

It pointed out that the corporation under Kuru has made some ingenious decisions that

have helped the government recovery agency a great deal.

One of such, according to them was that the corporation resorted to using firmer resolution strategies as well as the special enforcement powers vested in it by the AMCON Act 2010 (as amended), which has recorded impressive success in compelling recalcitrant debtors, especially those that are politically exposed and business heavyweights, to meet their obligations.

ELEVATING TO THE NEXT LEVEL Marie-Therese Phido

WasThe Crisis Averted?

Over the weekend, we learnt that our Vice President, Yemi Osibajo, thankfully did not suffer too much from a terrible helicopter crash owned by a private company, Caverton. Weâ&#x20AC;&#x2122;ve all privately, and over traditional and new media expressed our gratitude that the accident, which was bad from the pictures we saw, was not fatal. This is in view of the repercussions we could have suffered as a nation if the story had been different. Some people have mentioned inter-tribal wars, giving examples of the civil war, others have mentioned political unrest and the fact that anything fatal would have put a complete stop to the elections. All I can say, is that that I am thankful that nothing untoward happened and we have continued to truck on as a nation.

Haven said that, I then thought about the company that owns the helicopter. Caverton, went into immediate crisis management mode, with the Chairman, Yemi Makanjuola visiting the Vice President, reassuring the public that the company was investigating the accident, giving the Vice President another helicopter to use, which he used after finishing his business in Kabba. This was good crisis management on the part of the company. Many companies would have left it too late or been slow to take action. This slowness or inaction can be very damaging to a brand especially a brand where anything that goes wrong is a matter of life or death.

Below are actions we should take from Forbes Agency and me when we are faced with such reputational and brand crisis management situations in our businesses: Take Responsibility First off, donâ&#x20AC;&#x2122;t try to cover up the PR crisis, it will only worsen the damage. Instead, manage the situation by taking responsibility, reacting immediately, and responding to feedback. Instead of arguing publicly, acknowledge peopleâ&#x20AC;&#x2122;s concerns and questions and respond to the right conversations. Write a press release disseminate via all channels new and traditional media to control the situation and get the message across.

Be Proactive, Be Transparent, Be Accountable In todayâ&#x20AC;&#x2122;s real-time world of social media, and with critics everywhere, reputation management matters more than ever and it can be lost in an instant. The tenets of any crisis communication are to be proactive, be transparent, and be accountable. When put into action it looks like this: acknowledge the incident, accept responsibility, and apologize Get Ahead Of The Story This is exactly what Yemi Makanjuola, the Chairman did. He visited the site and the victims and tried to make good, as well as assured the public and their other customers that everything was under control. Getting ahead of the story is the strategy. Figuring out the fine points of the strategy -- communicating, apologizing, refunding, or whatever-ing now!

doesnâ&#x20AC;&#x2122;t happen again. Act fast before people lose faith in your brand.

First Apologize, Then Take Action Extending a heartfelt apology is key to moving forward. Not doing so adds fuel to the fire and delays changing the narrative. Following a public apology, the company must offer a call to action. They must do something substantial to show that they are changing their ways moving forward.

Monitor, Plan And Communicate Have your team on high alert, with monitoring at the forefront. If they start noticing spikes of negativity or increased activity, utilize an already well-versed crisis plan to proactively respond with prepared materials. Never let executives go rogue and potentially fuel the flames, but do encourage them to apologize immediately with predetermined and approved key messages.

Seek First To Understand The Situation Communicate all relevant details to key stakeholders. When asked to comment never reply with â&#x20AC;&#x153;no comment.â&#x20AC;? Even if youâ&#x20AC;&#x2122;re still assessing a situation, simply say that. If you donâ&#x20AC;&#x2122;t have a voice in the matter, people immediately assume guilt or make their own suppositions.

Also, recognize when operational improvements are necessary and be transparent about how youâ&#x20AC;&#x2122;re solving the situation.

Develop Strong Organizational Brand Culture Prevent the crisis. Itâ&#x20AC;&#x2122;s easy to blame frontline employees for recurring viral nightmares, but theyâ&#x20AC;&#x2122;re not responsible for the toxic brand culture that breeds them. An organizational brand culture that treats customers badly likely treats its employees poorly too. Dig deep into organizational culture and service delivery and youâ&#x20AC;&#x2122;ll find that new lows in brand experience always start at the top.

Turn Off The Fan When the you-know-what hits the fan, the first rule of crisis management is to turn off the fan. Donâ&#x20AC;&#x2122;t fuel the fire. Step back, put yourself in the consumersâ&#x20AC;&#x2122; shoes and ask, â&#x20AC;&#x153;How would I feel if this happened to me?â&#x20AC;? Looking in the mirror is the best PR advice there is when dealing with crisis situations. It ensures we do the right thing. And right beats spin every time.

Avoid Knee-Jerk Reactions Companies, brand representatives or influencers often provide emotional, frenzied responses.

Going silent on social is not a bad thing when you are monitoring a crisis. Freeze all external communication until you can assess whatâ&#x20AC;&#x2122;s going on. Be sure that the first external communication following the crisis is a well-thought-out response that resonates with your consumers.

Be Ready For Social Media Backlash The worst thing companies can do is ignore the possibility that a firestorm could ignite on social media. Smaller organizations can be more guilty of this, and especially those that are not active on social media. Just because a company is not marketing on social does not mean their customers wonâ&#x20AC;&#x2122;t put them in check on those platforms when something goes wrong. Have a plan

Be Prepared No one wants to be at the center of a scandal, but scrambling around because youâ&#x20AC;&#x2122;re not prepared to handle it takes things from bad to worse. Anticipate potentials crisis scenarios and establish internal protocols for handling them. Before a crisis hits, outline who needs to be notified, your internal review process and the individuals who are authorized to speak publicly on your behalf.

I believe Caverton reacted to the crisis well.

Organizations should take a cue.

Remember To Be Human Saying â&#x20AC;&#x153;youâ&#x20AC;&#x2122;ll look into itâ&#x20AC;? doesnâ&#x20AC;&#x2122;t make anyone feel better. Saying youâ&#x20AC;&#x2122;re deeply saddened by what went down and will work on making things better is important. Then, immediately share how policies will be put in place so it

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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Taking Advantage of Mutual Funds Investors can take advantage of the various kinds of mutual funds in the capital market to grow their wealth writes Goddy Egene Mutual Funds are investment vehicles set up by licenced Professional Fund Managers that can be likened to what some people call â&#x20AC;&#x153;Ajo or Esusuâ&#x20AC;? because they pool money from different investors together.

However, unlike â&#x20AC;&#x153;Ajo or Esusuâ&#x20AC;? which just gives back the total amount contributed, Mutual Funds are generally less risky and provide an opportunity for investors, commonly referred to as Unitholders, to capitalise on the power of pooling funds and skills of the Fund Manager to achieve their investment objectives/goals.

The Unitholders own all the underlying assets and the returns generated by the assets in the Mutual Fund.

In todayâ&#x20AC;&#x2122;s interest rate environment, letâ&#x20AC;&#x2122;s assume an individual walked into a bank with N5,000, 000 for a tenured deposit investment, she/he could probably get a rate of seven per cent per annum (p.a) for 30 days. However, if the same individual took her/his N5,000,000 and pooled it with other investors through a Mutual Fund, the total investable sum would be higher, and as such the Fund Manager would have better bargaining power and could get rates as high as 14 per cent p.a. from the same bank for 30 days. In other words, the individual would be able to generate higher returns because of her/his investment in the mutual fund.

In Nigeria, the Mutual Fund industry is heavily regulated by the Securities and Exchange Commission (SEC). Independent parties aside the professional Fund Manager include Trustees, Custodians, Registrars and Auditors. The separation of roles in the administration of Mutual Funds ensures a high level of transparency, corporate governance, and protection of the interest of the Unitholders in line with the SEC guidelines.

Mutual Funds in Nigeria cater to investors with different risk and return objectives, religious beliefs, age groups and income levels because they assist investors to achieve capital preservation, income-generation and capital appreciation through investments in financial instruments such as money market instruments, bonds, stocks and other alternative asset classes depending on the objective and investment strategy of the fund. The objective and investment strategy of the different categories of Mutual Funds will be disclosed to determine the category suitable to each investorâ&#x20AC;&#x2122;s goals and risk tolerance.

In Nigeria, open-end Mutual Funds are the most popular due to the flexibility to create and cancel units and accommodate more investors based on the bid (buying) and offer (selling) price of the Fund. Open-end Mutual Funds sell units of the fund directly to investors when they want to invest and buy the units back from investors when they decide to exit the fund. The bid and offer prices per unit change daily as they are determined by the values of the underlying assets in the portfolio and total number of

NSE building

units of the Fund. However, Money Market Funds mostly reference rates not prices; hence, the price per unit remains constant.

Categories of Mutual Funds in Nigeria Money Market Funds Money Market Funds (MMFs) invest in a broad range of short-term high quality money market instruments such as Treasury Bills, Commercial papers and Bank placements. MMFs are low risk Funds which offer relatively higher interest rates when compared with rates on savings account with commercial investors.

Fixed Income Funds Fixed Income Funds (FIFs) are low to medium risk Funds that generate stable income for investors by investing in a broad range of debt securities issued by the Federal Government of Nigeria, State Governments and highly rated Corporate Institutions.

Balanced/Mixed Funds Balanced Funds (BFs) are medium risk Funds that provide long term capital appreciation whilst mitigating the risk associated with investing

primarily in equities through exposure to bonds and money market instruments.

Pure Equity Funds Pure Equity Funds (PEFs) are high risk Funds that seek to provide long term capital growth by investing primarily in the shares of companies domiciled in or carrying out the main part of their economic activity in Nigeria. These companies are usually listed on the Nigerian Stock Exchange(NSE). In order to manage liquidity, PEFs may invest in short term money market instruments and deposits with credit institutions, from time to time.

Dollar Denominated Funds Dollar Denominated Funds (DDFs) seek to provide income and total returns. Invest in a broad range of tenured United States Dollar denominated debt securities issued by the Federal Government of Nigeria (FGN), Supranational, and highly rated corporate institutions. Some funds also invest to a limited extent in dollar denominated equities to enhance returns. Dollar denominated money market securities are also invested in to meet

liquidity needs. They offer potentially higher returns/risk when compared with rates on domiciliary accounts with commercial banks, and aid currency diversification Shariâ&#x20AC;&#x2122;ah Compliant Funds (SCF) Shariah Compliant Funds invest strictly in Shariâ&#x20AC;&#x2122;ah-compliant instruments and contracts.

They invest in fixed income instruments such as sovereign and sub-sovereign Sukuk, corporate Sukuk, Shariâ&#x20AC;&#x2122;ah-compliant fixed term investments, Murabaha (cost-plus financing) contracts and Ijarah (lease) contracts. They could also invest in Shariâ&#x20AC;&#x2122;ah compliant stocks listed on the NSE. Asset management companies may differ slightly in terms of subscription (the minimum investment amount or units required), redemption process (withdrawal/exit from the fund), weighting to different financial instruments (in line with minimum levels set by the SEC), income distributions/ returns payment and administrative fees of the fund returns on mutual funds are not guaranteed and are based on the performance of the underlying assets.

PTAD toVerify NNSL, Savannah Sugar, Ex-workerd Ebere Nwoji The Pension Transitional Arrangement Directorate (PTAD), said it has perfected plans for the verification and subsequent enrolment of qualified Ex-workers of Nigerian National Shipping Line,(NNSL), Savannah Sugar Company, Aluminum Smelter Company and other privatised/defunct agencies of government as approved by the Minister of Finance.

The directorate, in a statement titled â&#x20AC;&#x2DC;Statement on status of verification and payment to ex-workers of Nigerian National Shipping Line(NNSL),â&#x20AC;&#x2122; described as misleading a statement allegedly issued by

representatives of Ex-workers of NNSL in which the group alleged that the directorate, deliberately delayed their enrolment into the Defined Benefit Scheme (DBS), thereby frustrating the payment of N3 billion pension arrears owed its member PTAD Executive Secretary, Sharon Ikeazor, while disputing the allegation, explained that the issue of enrolling pensioners of defunct/privatised agencies was part of President Muhammadu Buhari administrationâ&#x20AC;&#x2122;s commitment towards lifting pensioners who had hitherto been neglected for over a decade, out of poverty. â&#x20AC;&#x153;This policy saw to the enrolment of pensioners of Delta Steel Company, NICON

Insurance, Nigeria Reinsurance, New Nigerian Newspapers and NITEL/MTEL, all agencies that were either privatised or liquidated by previous governments without contingency safety nets for the thousands of their hardworking Nigerian employees,â&#x20AC;? she said.

She explained further that in the case of NNSL, the approval for enrolment was received in April 2018, several months after the first set of agencies were approved. â&#x20AC;&#x153;It is worthy of note, that the Directorateâ&#x20AC;&#x2122;s pre-verification exercise for pensioners is a long and painstaking inter-ministerial process that requires the collection of data and digitisation of documents. â&#x20AC;&#x153;Most significantly, it re-

quires getting the authentic salary structure of the agency concerned, which in the case of NNSL wasnâ&#x20AC;&#x2122;t an easy feat,â&#x20AC;? she added.

According to her, when PTAD eventually got a response in that regard from the Federal Ministry of Transport, representatives of the union, whom the directorate had been actively engaging with all along, declared the document incomplete saying that it didnâ&#x20AC;&#x2122;t include the salary structure of its seamen.

She noted that, in all, the directorate has verified and put on monthly pension payroll, a total of 16,873 pensioners of seven defunct/privatised agencies of government, adding that this does not include

a total of 759 Next of Kins (NoK) of deceased pensioners of these defunct agencies that had equally been paid their departed breadwinnerâ&#x20AC;&#x2122;s final entitlements.

She listed the agencies and number of their ex-workers paid by the directorate as NITEL/MTEL which had a total of 10,801 ex-workers included in the payment; Delta Steel Company - 3,593; NICON Insurance which had 949 exworkers; Nigeria Reinsurance -292 of its ex workers paid; New Nigeria Newspapers had 507 ex workers paid; Nigerian Defense Academy (Civilians)79 ex workers paid and Federal Housing Authority â&#x20AC;&#x201C; 652.

The PTAD boss therefore

said contrary to the statement ascribed to certain representatives of Ex-workers of NNSL, preparation for the verification of all treasury funded parastatals, including NNSL, has been completed and the exercise would commence shortly across the country.

According to her, the program schedule would also be released by the Directorate soon. â&#x20AC;&#x153;We therefore assure all pensioners yet to be verified that succour will soon come their way in conformity with the presidentâ&#x20AC;&#x2122;s commitment to improve the welfare of all Nigerian pensioners, especially those neglected by previous administrationsâ&#x20AC;? the PTAD boss said.

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Okeke: Efficiency Key to Banksâ&#x20AC;&#x2122; Profitability Mr. Marcel Okeke, a former Chief Economist/Group Head of Research & Economic Intelligence at Zenith Bank Plc is currently the Chief Executive Officer and Lead Consultant at Mascot Consult & Communications Limited. In this interview, the founding Chairman of the Finance Correspondents Association of Nigeria speaks on some factors that would shape the economy in 2019. Nume Ekeghe brings the excerpts: What is your projection for the banking industry in 2019?

The banks donâ&#x20AC;&#x2122;t operate in a vacuum; they are part of the economy. And so, if the economy is doing well generally the banks would also do well. On the other hand, how well a bank does is also a function of creativity. That is because the truth is that as bad as the economy is, some businesses are still doing well within the system.

And so a bank that is efficient, no matter the curves in the system would keep on doing well. If you check within you would see that in recent times whatever banking transaction you do comes with a charge, those charges were not there some months ago. So it means those banks are becoming more creative and you cannot because of these charges decide to keep your money under your pillow in your house. So it is given that you must bank your money and as long as you keep banking and they keep charging it, it would keep adding to their performance and balance sheet. Remember the government is operating a tight monetary policy rate by keeping interest rate at 14 per cent. So it also means that the banks themselves would be careful as to who they lend money to.

So when they give out money, they would be giving out to businesses that are viable and there wouldnâ&#x20AC;&#x2122;t be any undue exposure to anybody. I would say that the good banks that have been doing well would continue to do well in 2019.

ECOWAS has been planning a common currency in 2020, is this a step in the right direction and what is the possibility that Nigeria will beneďŹ t from this initiative?

The truth is that the ECOWAS common currency has been on the drawing board for many years. That you hear 2020, it is not definitive that it would happen and it is not certain it would happen in 2020. If you look at the requirements for it to happen, you would see that a country like Nigeria, we have not met much of the requirements. At the moment, many of the member countries have not attained the indicators. If it does happen, there are advantages and disadvantages of a common currency and you can see it play out in Europe for example.

Some members of European countries are having serious economic problems and you can see the way it rubs off on the rest of the member countries. I donâ&#x20AC;&#x2122;t believe that a common currency would happen next year. So it is a journey that would have to continue.

Recently there has been tax reforms aimed at broadening the tax base, what do you think should be the focus of these reforms?

When it comes to Value Added Tax (VAT) and company income tax, they say we still have less rate compared to other countries. So that informed the tax reforms. But when you look at the general business climate, you now see that the businesses here have more challenges than the businesses in other countries. If you are taxing someone, do you talk of the cost of production which is why some major companies have left for other countries. If the cost of production and operation is lower elsewhere, they are better equipped to pay more tax than the ones staying here. So when you factor all these costs into their activities, do you think theyâ&#x20AC;&#x2122;ll be in a good position to pay more tax?

That is why I must also say that government has started doing something in terms of improving the business environment. Last year when the Vice President was acting President he signed some Executive Orders to improve business environment. So these things have to go together meaning that as the business environment is getting better, businesses would be better equipped to pay more tax.

They came up with Voluntary Assets and Income Declaration Scheme (VAIDS) and that program did not achieve its intended purpose at the end of the day. As we speak, there are close to 1,000 tax related cases that are in court and the

Okeke

government itself has set up tax tribunals. So it is not easy for government to do those reforms.

So my position is that since they are not taxing non existing entities, they should continue to interact with them but then government might not end up getting what it expects to get.

What are your thoughts on the inďŹ&#x201A;ation ďŹ gures in Nigeria and the present interest rate?

When you put your money in the bank, you would be expecting interest to be high but if the interest they are paying is much lower than inflation, it means that the value of money you get would be eaten up by high inflation. So there is always that battle which is what the central bank is doing. The interest rate is priced and the CBNâ&#x20AC;&#x2122;s role is to achieve price stability. So

We need foreign direct investments and foreign portfolio investors to boost our capital market and we need the rest of the world to come and invest here

that is why the CBN in spite of all pressure has refused to move the interest rate less than 14 per cent; because whatever rate they give indicates to the banks what rates to give. We should be target inflation rate of two to five per cent like in other climes.

There are reports that says the choice of the next CBN governor would have an effect on the economy. What are your thoughts on this?

Talking about change of leadership at the central bank, certainly like in every organisation, especially a sensitive one like the central bank, who is at the head means a lot because of the style of leadership. For instance, my style will not be the same as someone elseâ&#x20AC;&#x2122;s leadership style and since the central bank has a lot to do with the economy, the person seating as governor has his own mind-set. And let me also tell you that the central bank is not 100 per cent immune from political influence and so if someone from the Niger Delta is the CBN Governor, it is different from the one from Borno state. So it would make some difference.

With what we saw in the banking industry last year, do you foresee any more merger and acquisition in the industry this year?

It depends on how the economy turns going forward. I told you earlier that the shape of the economy will have a way of setting the boys apart from the men. The banks that have been doing well would continue to do well. I also said

a lot of creativity would have a lot of role to play. Also, there would be a lot of caution when giving out loans. So if the economy becomes harsh or gets worse going forward, some banks would have problems consider M& A. But if banks or a bank has problem, the option open to them are many, so it doesnâ&#x20AC;&#x2122;t mean they must go into merger and acquisition. There is also the Nigeria Deposit Insurance Corporation (NDIC) to work out a soft landing for such institution. So, letâ&#x20AC;&#x2122;s not have some kind of fixation on M&As. We have recently seen the growth of domestic participation in the capital market and it is almost at par with the foreign investors, what are your thoughts on this?

On one hand it is good that local investors are showing interest because this shows improving confidence in the economy and market. But like I said the world is a global village and if you have outsiders that are afraid of you and are pulling out investment, when you think all is well but people around you are looking at you that you have a problem, it is something that should be taken serious. So, if the perception of the international community of Nigeria is bad, then it is bad for us. We need foreign direct investments and foreign portfolio investors to boost our capital market and we need the rest of the world to come and invest here. So if they pulling out it is a big problem and the world doesnâ&#x20AC;&#x2122;t function like that. And so many things we need here would not be realised without FDIs coming in.

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Enhancing Non-oil Exports With increasing vulnerabilities occasioned by Nigeriaâ&#x20AC;&#x2122;s over-dependence on crude oil, the responsibility rest on development finance institutions such as the Nigerian ExportImport Bank to promote activities that can stimulate the real sector, writes James Emejo

With a mission to promote exports through the provision of finance, risk bearing and advisory services in line with government policy, the Nigerian Export-Import Bank (NEXIM) is critical in achieving the diversification objectives of the federal government.

In fact, NEXIM is very important for the successful implementation of the Economic Recovery and Growth Plan (ERGP).

Among other things, the Bank is statutorily empowered to provide short and medium term loans to Nigerian exporters and issue short term guarantees for loans granted by Nigerian banks to exporters as well as credit insurance against political and commercial risks in the event of non-payment by foreign buyers.

An overview of its five-year strategic plan spanning 2017 to 2022 indicated a commitment to support 3,600 MSMEs by 2022 including the creation and sustainability of 25,000 direct jobs to Nigerians.

According to Managing Director/Chief Executive, NEXIM Bank, Mr. Abba Bello, within the period, the DFI further seeks to provide support for 1,800 exporters and corporates to participate in the Central Bank of Nigeriaâ&#x20AC;&#x2122;s (CBN) top 100 non-oil exporters as well as increase its share of foreign exchange generation to 10 per cent of total non-oil exports.

Nevertheless, the managing director believes that existing and prospective stakeholders in the export business require proper education and mentoring to succeed and help actualise the bankâ&#x20AC;&#x2122;s mandate and economic diversification plan of the government in general.

He noted recently that the federal governmentâ&#x20AC;&#x2122;s efforts to diversify the economy and achieve rapid economic growth under the ERGP could be hampered without proper focus and policy responses to the issues and challenges affecting the growth of the small and medium scale enterprises in the country.

According to Bello, although poor financing had often been identified as a major constraint to the optimal performance of the sub-sector, â&#x20AC;&#x153;improper project conception, coupled with poor project implementation and poor management practices, which essentially are issues of innovativeness and entrepreneurship development, rather than those of access to finance,â&#x20AC;? constitute

major constraints to the growth of MSMEs. This explains the resolve of the bank to emphasise on public enlightenment on the role and expectation of MSMEs in the non-oil export business for optimal performance.

This, particularly becomes important in view of recent developments whereby a few of the countryâ&#x20AC;&#x2122;s exports had been rejected on account of falling behind approved global standards and practice.

The awareness campaign by the Bank is further justified by the realisation that every states of the federation has one or more natural resources which if properly harnessed, could be a major source of foreign exchange to the country amid dwindling revenues from oil which had negatively impacted on the ability of government to fully fulfil major financial commitments to contractors and workers.

This is why the recent exporter enlightenment programme which was organised by NEXIM Bank in Katsina State, was seen as a right move on its part to continue to enlighten existing and potential exporters on the Bankâ&#x20AC;&#x2122;s products and services as well as enhance collaboration with other sister institutions and relevant stakeholders for the purpose of promoting exports and attracting investments to non-oil sector.

The forum was also to create awareness on the Bankâ&#x20AC;&#x2122;s newly established State Export Development Fund (EDF) in line with the Zero Oil Plan of the federal government.

According to Bello, following the review of applications under the EDF by its board, approval was given for the disbursement of loans valued at about N25 billion in support of various projects in the non-oil export sector.

But the fund could remain largely unutilised for lack of knowledge, requiring enlightenment so stakeholders could take advantage of the facility.

Bello said: â&#x20AC;&#x153;The total amount approved is expected to support about 15,000 direct and indirect jobs and facilitate foreign exchange inflow of about $100 million from non-oil exports.â&#x20AC;?

Earlier in the year, the CBN had established the N50 billion Export Development Fund, to be disbursed at single digit, which is currently being managed by NEXIM. Following the inauguration of the new Board

in March, 2018, the Minister of Finance had charged the members to hit the ground running to ensure that the institution achieves its mandate of diversifying the foreign exchange earnings of the Nigerian economy.â&#x20AC;?

Speaking at the enlightenment forum, he pointed out that the EDF seeks to partner state governments in identifying exportable products(s) in each State of the Federation (One State, One product philosophy) to be supported under the fund based on the Federal Governmentâ&#x20AC;&#x2122;s diversification strategy as contained in the ERGP. He added that the State Export Development Fund initiative would ensure the spread of the Bankâ&#x20AC;&#x2122;s funding intervention across the country and expand its export basket.

The NEXIM Bank boss explained that the objective of the finance institution was to support export-oriented projects across the country, noting oil revenues alone cannot support inclusive economic growth capable of would job creation and economic opportunities for Nigerians.

He told participants that â&#x20AC;&#x153;Our plan is to assist indigenous producers to optimise capacity and also move up the value chain to produce finished products. â&#x20AC;&#x153;We have observed that the north-west is quite rich in agricultural and mineral endowments and therefore, has the capacity to benefit significantly under the programme. â&#x20AC;&#x153;A portion of the Export Development Fund has also been set aside to support industries that are major employers of women and youth under a special economic empowerment scheme for the vulnerable groups.â&#x20AC;?

Also, in furtherance of its drive to boost export trade among the MSMEs, the bank earmarked a seed Fund of N5 billion to promote export oriented projects and support for the Niger-Delta region.

The Niger-Delta Development Fund had been established in partnership with the Niger-Delta Development Commission in that regard and further offered partnership opportunities to cocoa projects and other commodity exporters in Ondo State to promote value added exports.

This was in addition to about N3 billion also set aside under a special scheme designed for women and youth.

Nonetheless, addressing exporters at the enlightenment forum, on improving access

to NEXIMâ&#x20AC;&#x2122;s products and export development facilities, the bank noted that it had over the years supported the non-oil export sector through different products and services including working capital, stocking, foreign/local input, ECOWAS trade support and long term project finance facilities.

It urged Katsina and all the states in the North-west to key into its Export Development Programme (EDP) to boost their economic potentials and promote the rapid development of the region.

He listed the potential to include agricultural products such as cotton, hides & skin, sesame seeds, gum arabic, Ginger, sorghum and various grains and fruits.

Others are solid minerals, including Limestone, Gold, Iron ore, Lead and Zinc, as well as services â&#x20AC;&#x201C; ICT, entertainment including Kannywood movies and music.

Bello, said the EDP had been developed by NEXIM to address the critical challenges of the non-oil export sector and the continued dominance of oil & gas in the total export revenues.

He noted that the zone had enormous non-oil resources, which could be developed to boost export earnings, create more jobs and promote economic growth.

According to him: â&#x20AC;&#x153;Despite the enormous non-oil resources of the region, our analysis however shows that the North-West had not benefited optimally from NEXIMâ&#x20AC;&#x2122;s intervention programme as shown in the table, hence the need for this Exporter Enlightenment Forum.â&#x20AC;?

He said: â&#x20AC;&#x153;The bankâ&#x20AC;&#x2122;s objective is to increase its funding intervention in line with the Economic Recovery and Growth Plan (ERGP) to existing exporters to move up in the export value chain, and attract investment/funding support to the underserved, but key sectors of the economy with high export potentials. â&#x20AC;&#x153;We are also desirous of working with state governments/regional authorities as a deliberate strategy towards promoting regional industrialisation, economic diversification towards facilitating sustainable and inclusive development in the country. â&#x20AC;&#x153;We are therefore eagerly looking forward to working with the organised private sector/ trade associations and state governments of the North-west region to boost the bankâ&#x20AC;&#x2122;s funding intervention in the region.â&#x20AC;?

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Chidoka: Stock Market Decline Offers Entry Opportunity The Managing Director/Chief Executive Offier of Kairos Capital, Mr. Sam Chidoka, in this interview speaks about plans of the firm which was recently granted an issuing house licence by the Securities and Exchange Commission.

Oluchi Chibuzor presents the excerpts: What is your unique selling point?

We are confident. We are absolutely very confident. Personally, I have done this for a while. The team at Kairos, we have combined experience of over 60 years. So, once the company is new, the team is not new in any form or shape. We have been around. We were here when the global financial crisis happened in 2008, we were here when the boom happened 2006 â&#x20AC;&#x201C; 2007; we were here when the All Share Index lost 19 per cent last year and so we have seen the cycles of up and down in the market. So, we are confident that we are able to play in the market and be successful as a firm. Part of the things that we are confident about is that we understand how this market works, we understand the people who are raising funds are and we know them and they know us and they respect our professionalism and our abilities. And so, we hope to offer in the market our unique selling point. We are not going to be all things to all men, we intend to have some unique core clients that we would be servicing over and over.

One of the things actually in the market from my experience is that a client wants to issue a bond and everybody rushes that they want to be part of the transaction and the client issues the bond and everybody goes home and wait until the next round when the clients rings another bell that it wants to issue securities in the market again.

That is not what we hope to do. What we hope to do is to work with our clients from when they are issuing, to when they are not issuing. This is because in the financial advisory space, we found that there are a lot of things going on with clients that if you are not close to them they wonâ&#x20AC;&#x2122;t confide in you. There are clients who just need their systems to be made more official, there are clients who just need optimisation of the way they do business which is separate from raising funds in the capital market. So, we are confident that we will work very closely with our clients and we will be focused on the customer and do our best always to give them the best advice and to bring them to the point where they are either issuing securities or willing to list in any of the exchanges whether on the Nigerian Stock Exchange (NSE) or FMDQ. So, what is your projections for economy in 2019?

Well I think a lot is riding on the elections.

I think the elections are probably too close to call. So the trajectory of the economy, especially where we play, the financial industry, would be dependent on the outlook of the elections.

So, we have seen one government in power for close to four years and we can guess where they are going and there are some people trying to take over. If any of them wins, the trajectory will probably change. But all in all, we think that it is going to be an interesting

at getting a stockbroking licence. In the immediate we are not focusing on that space because we have a sister company that has a stockbroking licence and we have been leveraging that relationship and we want to continue to leverage that relationship. We want to be completely focused. Most companies like ours have formed a group structure where they have an issuing house licence, they have an asset management licence, the have a stockbroking license, some have gone into the registering business, some have even gone into the lending business with doing the micro lending business right now and all of that. That is a strategic intent and that is good. But for us in the immediate future, we want to focus on build capacity in corporate finance. So we have a sister asset management company that we have gone into alliance with and all our individual clients are managed by the Same thing we have done in the stock broking space. We have a company that we have gone into an alliance with and all our stockbroking businesses go through that firm. We have a couple of clients that we are going to be listing by introduction on the NSE this year.

We expect that by second quarter, we will be taking one firm to NSE. So we will be leveraging on that stock broking firm while we will be handling the financial advisory services through about.

Chidoka

year for the country. We think that the first quarter has been sacrificed for elections and we think that until second quarter before we begin to see activities pick up.

We hope the elections goes the way of 2015 where it was peaceful. If that happens, then post-election activities would come in quickly. We are hopeful that the trajectory of inflation coming down would continue and so the prime lending rate will probably come down and we find more corporates coming to the market. Also, it is clear to us that the federal government cannot fund the 2019 budget. It is very clear. They will need to sell some assets clearly and so we see some traction in the advisory space in terms of divestiture from the federal government. We hope to tap into that. The federal government would continue to raise money. There is deficit already and that deficit could worsen if the prices of oil continue to dip. So, we hope to tap into that space and hopefully, on the whole, we hope that the economy will pick up in 2019, but post first quarter. We donâ&#x20AC;&#x2122;t expect much this quarter.

And for the capital market, what are your expectations?

Well, we expect foreign portfolio investors (FPIs) to come back after the elections. I think it is election jitters that affected the equities market. We believe that most of the people who had investments in our markets felt the need to exit, wait for us to have our elections and probably come back. Now, the good part is that if you look at the Nigerian Stock Exchange (NSE), right now, companies are trading at very low prices, so there are opportunities in the market. So we expect that after the elections, and we are very hopeful that the elections would not bring any crisis, once that happens the foreign portfolio investors would come back because there is a huge upsides in the market. So we expect that foreign portfolio investors would come back.

What should we expect from your company and are you looking at getting a stockbroking licence?

Well, in the immediate we are not looking

Where do you see Kairos in the next ďŹ ve years?

For us our strategic intent like I said is to grow capacity, show capacity and be bold to show ourselves as a leader in this market.

That is what we want to do. We intend to use this year as a year of announcement to show our capacity. We have a couple of clients we are working with and in the next few months, the transaction we have done will be hitting the market and people will see what we have done. So we clearly want to see Kairos as a market leader. We believe in co-competition. We believe in collaboration and competition.

We are not coming to the market to just compete, but we have had friends in the market and we still have friends and we want to co-compete. We want to continue to build capacity by collaborating with them on their transactions and them collaborating with us on our transactions while we compete. So the idea is to have Kairos stand out in the market in the next few years and probably start to diversify our investment types over time that in the next future, in the next 24 months , we are narrowly focused on corporate finance, capital raising, mergers and acquisitions, advisory, divestitures, spinoffs, management, takeovers and such transactions. We want to be focused on that and known as we go through corporate finance market and player in the market. That is our take.

Sovereign Trust Insurance Pays N4.2bn Claims Ebere Nwoji Sovereign Trust Insurance Plc said it paid a total of N4.2 billion as claims to customers in 2018.

The company, in a statement to this effect that was signed by its Head, Corporate Communications & Brand Management, Segun Bankole, said this was in continuation of its commitment to honour all genuine claims as and when due.

He said the underwriting firm does not believe in paying

lips service to settlement of genuine claims, adding that the companyâ&#x20AC;&#x2122;s claims experience in 2018 was quite enormous, a situation which he attributed to the downturn in the economy.

According to him, every insured wants to make a claim at every given opportunity which really escalated the claims figure for the year He summarised claims paid by the company during the period, pointing out that energy had the highest figure of N2.1 billion, with Fire Insurance

ranking second with total claims settled of N664 million.

Motor Insurance claims amounted to N567 million while Marine & Aviation claims stood at N447 million.

A total sum of N333 million was paid as claims on General Accident Policy with engineering recording N41 million.

Commenting on this, the Executive Director, Technical Operations, of Sovereign Trust Insurance, Mr. Jude Modilim said, â&#x20AC;&#x153;there is no compromise to genuine claims settlement

in Sovereign Trust Insurance Plc because the major focus of the company is to ensure that our teeming customers get to enjoy the benefits of taking out any form of insurance policy with is through prompt settlement of their claims when the need arises. â&#x20AC;&#x153;That to us, is the only way to prove that we are well and alive to our responsibilities as an underwriting firm in the country. â&#x20AC;&#x153;We intend to uphold this obligation and we will always

continually strive to make good our promise.â&#x20AC;?

Sovereign Trust Managing Director/CEO, Mr. Olaotan Soyinka also stated that the company had put in place a friendly-claim-process with the major aim of putting smiles on the faces of its various customers across the country by ensuring that claims are settled within the shortest period on completion of all necessary documentations. â&#x20AC;&#x153;Our commitment to uphold the tenets of our Vision

and Mission has made the company one of the countryâ&#x20AC;&#x2122;s most relevant and responsive insurance companies. â&#x20AC;&#x153;Sovereign Trust Insurance Plc is no doubt a formidable force to reckon with in the Nigerian Insurance landscape with a network of offices spread over (18) locations in the country buoyed by cutting-edge technology in delivering seamless and convenient insurance service to all teeming customers in the country and beyond,â&#x20AC;? he affirmed

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Emefiele, CBN and Nigeriaâ&#x20AC;&#x2122;s Economic Outlook Dapo Adekunle Between the end of 2014 and the first quarter of 2017, the job of heading the Central Bank of Nigeria (CBN) was not an enviable one. Nigeria was faced with the harshest economic realities which culminated in its worst recession and the common man on the street could only ask â&#x20AC;&#x201C; and reasonably so â&#x20AC;&#x201C; what the financial regulators were doing to restore the battered economy.

The journey towards recession, which became symptomatic in the third quarter of 2014, started with the substantial and continuous drop in commodity prices. According to a CBN document which outlines the bankâ&#x20AC;&#x2122;s understanding of recent economic developments, countervailing policy actions and some associated outcomes, this drop in commodity process affected Nigeriaâ&#x20AC;&#x2122;s economy quite adversely, resulting in depressed GDP growth, rising inflation, the depreciation of the exchange rate, depletion of Nigeriaâ&#x20AC;&#x2122;s foreign exchange reserves and the decline of average inflows of foreign exchange into the CBN. For instance, the GDP was growing by more than six per cent before 2014. However, its growth shrunk significantly, delving the Nigerian economy into a recession in 2016. Inflation also rose drastically, with January 2017 recording the highest inflation rate of 18.7 per cent from 9.6 per cent the previous year. The naira also tumbled, as exchange rate went from as low as N155/US$1 in June 2014 to as high as N525/ US$1 in February 2017. Nigeriaâ&#x20AC;&#x2122;s FX reserves, which stood at around US$40 billion in January 2014, shrunk to as low as US$23.6 billion in October 2016. Worse still, average inflows of foreign exchange into the CBN declined by over US$2.3 billion per month over a three-year period. The economy was unhealthy and the over-reliance on the petroleum sector meant that it was the countryâ&#x20AC;&#x2122;s sole source of foreign exchange revenue for government to provide essential services.

Many expected President Muhammadu Buhari to act urgently, even if symbolically, to the downward trend before it became too late.

As part of such economic reform, the President was expected to axe an â&#x20AC;&#x153;inheritedâ&#x20AC;? CBN Governor, Mr. Godwin Emefiele. However, President

EmeďŹ ele Muhammadu Buhari kept faith in Emefiele.

In fact, as Buhari was yet to appoint his ministers, Emefiele temporarily found himself combining his CBN governorship with being the minister of finance, minister of national planning and economic adviser to the President.

The CBN, under Emefiele, understood that the answers to Nigeriaâ&#x20AC;&#x2122;s economic woes demand creativity and out-of-the-box thinking. The Bank went to work, outlined and implemented sound policies which in the end, help strengthen growth and development. Fast forward to 2019, the economy has not only recovered but has since been steered on steady growth path. Available statistics show that the Nigerian economy picked up and sustained its recovery momentum in 2017 and 2018. For instance, growth rate of GDP rose from -0.9 per cent in 2017 to 1.4 per cent in the third quarter of 2017. Inflation rate declined steadily from peak of 18.7 per cent in January 2017 to 15.1 per cent in January 2018. Exchange market pressures eased considerably as the exchange rate

appreciated from over N525/US$1 in February 2017 to about N360/US$1 2018. Similarly, FX reserves recovered from about US$23 billion in October 2016 to nearly US$42 billion in 2018.

Praise-worthy are the countervailing measures taken by the CBN during the height of the recession which helped to forestall an economic doomsday.

Such measures included the prioritisation of the most critical needs for foreign exchange to ensure that only those who need it and for economically justifiable activities have access to it. Another measure was a deliberate implementation of policies which would genuinely reduce Nigeriaâ&#x20AC;&#x2122;s reliance on forex from crude oil exports.

The CBN, under Emefiele, is driving the diversification of Nigeriaâ&#x20AC;&#x2122;s economy through long- and medium-term strategies. The bank has established initiatives to tackle challenges to job creation, economic productivity, poverty eradication and food security.

One of such measures is the intervention scheme for four commodities â&#x20AC;&#x201C; rice, fish, sugar and wheat â&#x20AC;&#x201C; which consume about N1.3 trillion annually in importation. These days, domestic production of these commodities has boosted Nigeriaâ&#x20AC;&#x2122;s foreign reserves and reduced pressure and need for forex. The bank has continued its financing activities in key high-impact sectors like power, aviation, education, micro, small and medium enterprises (MSME) and agriculture.

Despite all these achievements, there are two issues which critics point at as indicators that the prospect of the Nigerian economy is not as bright as portrayed.

First is the unemployment rate, which worsened from 14.4 per cent in the first quarter of 2017 to 18.8 per cent in 2017 in the last quarter. More recently, the National Bureau of Statistics (NBS) released a report which puts Nigeriaâ&#x20AC;&#x2122;s unemployment rate at 23.1 per cent in the third quarter of 2018 from 18.8 per cent in the third quarter of 2017. This report underscored the need for strong policy coordination to ensure that the positive outcomes are expanded across all macro-indicators. It also shows that the bank and other policymakers must neither become complacent nor over-confident.

Another issue hammered on by critics is the country use of foreign loans to finance provision

of infrastructural facilities. According to the NBS, Nigeriaâ&#x20AC;&#x2122;s total domestic and foreign debt stocks as at the end of 2017 stood at about $73 billion (or N21.73 trillion). Nigeria could borrow up to 40 per cent of its GDP externally, and the Debt Management Office (DMO) continues to demonstrate good negotiation skills in dealing with the countryâ&#x20AC;&#x2122;s debt matters with both internal and external creditors.

That Nigeriaâ&#x20AC;&#x2122;s domestic and external debt stocks put the country in a good stead to borrow more has been echoed by economic think tanks, such as the West African Institute for Financial and Economic Management (WAIFEM), which explained that budgetary allocations alone may not be enough to finance the infrastructure deficit.

WAIFEM admitted that the debt option is still the most viable for now. The difference in the present administrationâ&#x20AC;&#x2122;s economic strategy is that it is changing the mix of revenue sources available to government from the traditional oil or debt, to a combination of oil, debt and domestic revenue.

The CBN has said itself that it will strive to improve and sustain the pace of recovery and find ways to derive positive outcomes for the unemployment rate and the incidence of poverty Nigeria. It is also admitted that the countryâ&#x20AC;&#x2122;s import bill may have fallen, but its manufacturing and agriculture sectors still have a long way to go in attaining self-sufficiency in those sectors.

But the Bank warned that it would be a mistake to quickly discard the restrictive FX measures which aided the countryâ&#x20AC;&#x2122;s recovery simply because the metrics have improved. As the Bank continues to fine-tune its policies and strategies based on an understanding of evolving developments and supported by in-house technical analysis and simulations, it is not out of place to commend it for remaining resolutely proactive in ensuring that the welfare of Nigerians is enhanced at any point in time. It is to the credit of the CBN, under Emefiele, that Nigeriaâ&#x20AC;&#x2122;s economic outlook appear promising from all indications in such a relatively short time after it was tested by a ravaging recession.

Adekunle wrote in from Lagos

Beyond Legislative Call Adanne Uche I have asked myself what is it these legislators want? When you harass ministries, departments and agencies of the federal government and ask that sensitive documents be handed over to you within a deadline, is that what they call oversight?

It has become an embarrassing trend to see our federal legislators dramatise their oversight functions, turning it into a witch-hunt and behaving as if the legislature is in opposition to the government of which it is part.

That is the way I see the proposed public hearing on the National Pension Commission (PenCom) by the House of Representatives.

An ad-hoc committee set up by the House in December 2018, is expected to investigate alleged â&#x20AC;&#x153;unwholesome practicesâ&#x20AC;? by pension administrators in the country.

The proposed probe or investigation has unnerved stakeholders in the pension industry and sent tongues wagging on what is truly the end-game of the legislators. Earlier in the week, there were reports that the committee had written letters to some MDAs, including PenCom and the Central Bank of Nigeria, requesting for sensitive documents and information on pension account holders and operational details of Pension Fund Administrators (PFA).

The worry is not about the necessity or rationale for the probe. It is part of the job of legislators to investigate MDAs under their oversight functions when there is need for such and when doing so could lead to formulation of laws to improve efficiency. The objective of legislative probe is to unearth corrupt practices and make laws for good governance.

The problem is information the committee is requesting Among the information requested by the legislative committee are â&#x20AC;&#x153;The Net Asset Values of the Contributory Pension Funds, details of supervision and regulations of

Acting DG, PenCom, Mrs. Aisha Dahir-Umar Pension Fund Administrators and their key instructions and performances, compliances and defaults, annual pension operations of all the Pension Fund Administrators (i.e. details of amount collected from contributors and amount being paid out to retirees, from April 2017 till date).â&#x20AC;?

The Committee also requested for details of investment percentages and profits from the investment of pension funds, and details of the Federal Government contributions to the Federal Government bonds.

More scandalous is the request for the â&#x20AC;&#x153;contributions of retirement savings account holders to Pension Funds Administrators and details of payments from PenCom into the Treasury Single Accounts (TSA) and bank accounts details operated by the Commission.â&#x20AC;?

Supplying this information to the committee is against the provisions of the Pension Reform

Act (PRA) 2014 which forbids the Commission and members of the Commission from disclosing such information. Are the legislators not aware of the law? Or they simply want to blackmail PenCom, CBN and the Ministry of Finance?

This is an abuse of legislative powers that could put the pension industry into jeopardy and cause disruptions in the capital market.

The committeeâ&#x20AC;&#x2122;s letter states that the probe would cover from April 2017 till date. The question to ask our legislators is why now?

What have they been doing since 2017? Is PenCom, Ministry of Finance and CBN not part of the MDAs the House Committee on Finance or Public Accounts supposed to oversee?

How come the ad-hoc committee is asking for all these documents and information now when theyâ&#x20AC;&#x2122;re supposed to have some of them in their custody if they had performed their duties as expected?

The probe begets so many questions and one is at a loss trying to rationalize the Houseâ&#x20AC;&#x2122;s decision to conduct such a probe at a time the country is facing another general election.

What time do the legislators even have to do thorough investigation when theyâ&#x20AC;&#x2122;re also busy preparing for the elections? This is what soccer fans call â&#x20AC;&#x2DC;injury timeâ&#x20AC;&#x2122; when there is so much desperation and rush to prevent loss.

Unfortunately, thereâ&#x20AC;&#x2122;s no denying that many of our legislators have not shown much of legislative discipline to promote confidence in their abilities to rise above personal and party interests in the discharge of their duties.

In many of the cases where legislators had intervened through official investigation or public hearing, such had been weakened by pursuit of personal gains.

One gets the feeling that legislators use their license not for public good, but for personal profits either in cash, revenge or settling of scores. Thatâ&#x20AC;&#x2122;s the only sense I could make from a statement credited to the committee, Ehiozuwa

Agbonayinma. He was quoted to have said, in response to a question on the controversy surrounding his request for sensitive documents: â&#x20AC;&#x153;We are not leaving any part untouched as we are going to conduct a thorough investigative hearing that is water-tight.â&#x20AC;?

Its obvious that this is beyond legislative call.

There is an agenda that is not yet clear, and this is what is unsettling the industry. What does the committee want to do with the information and documents requested? How safe and secure would this information be when passed to the committee? It must not be forgotten that pension is also a business, and a significant economic sector that must not be killed on account of some legislative oversight.

These are the questions stakeholders in the industry are asking. There is justifiable fear that the industry is about to be compromised, and this is not good for the sector. The committee has done little to assuage this fear, and instead heightened it through unprofessional rhetoric that smacked of blackmail and intimidation.

Interestingly, the committee has also invited the Nigeria Labour Congress (NLC), Trade Union Congress (TUC) and all representatives of agencies and institutions of the governing board of PENCOM, and one would like to know what they think about this brazen legislative overkill.

Some stakeholders have also queried the character of the committee which reportedly cleared PenCom management of any wrongdoing, only to do a U-turn weeks later without any convincing explanations. What could have happened to change the mind of the committee?

Is the committee doing the bidding of some individuals or interest groups? Of course, answers to these questions are yet unclear and what happens henceforth would shed more light.

Everyone is watching!

Uche writes from Enugu

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Auto Policy Review as Recipe for Policy Instability Jimoh Olawale In a country with deepening dearth of manufacturing plants and a market far-flung from her realisation of an industrialised economy, it is pertinent that we have strong economic blueprints and policy statements that are geared towards changing the current phase of our economy from import-oriented to a self-sustaining manufacturing economy.

To realise this, the government must eschew policy inconsistency through one-sided reviews as touted by some individuals whose concerns are rooted in short term gains.

There is no gainsaying the fact that one of the cardinal focus of the present administration is the diversification of the economy through the local manufacturing sector and foreign direct investment (FDI). To realise this economic growth, the president Buhari-led administration has reinforced its stance on sustainable economic growth by endorsing the auto policy which was reveling for stakeholders and investors.

However, the resounding echoes of few stakeholders on the need to review the policy to satisfy their short-term aspirations will ultimately lead to policy summersault and erode the investments in the industry.

To ensure a backward integration through the auto industry, itâ&#x20AC;&#x2122;s important that the industry is dependent on the domestication of car manufacturing in the country. The policy formulation was well thought off and in line with the stakeholders yearning for the development of the industry through industrialization. The intrinsic value and direct nexus between sustainable economies and viable auto industry rest solely in the governmentâ&#x20AC;&#x2122;s policy framework. As one of the backbones of the economy, the effectiveness of this industry is directly proportional to the stability of the auto policy owing to the fact that it drives industrialised economies and in turn, dictates the pace of the economic development of the country.

In recent time, there has been a deafening call from some quarters on the need to review the policy chiefly among the reasons for this is the purported revenue loss at the ports.

The major proponents of this review are the RORO operators, clearing agents, used car importers, the Customs Service and Nigeria Ports Authority, amongst other maritime agencies. Their crux is the low vehicle importation through Nigeria ports and the incentives doled out to importers in neighbouring countries on cars that are in transit to Nigeria.

As a player in the global economy with a possibility of chain reactions to policies from other countries, Nigeria canâ&#x20AC;&#x2122;t simply ignore this move by neighbouring countries to incentivise importers. However, we shouldnâ&#x20AC;&#x2122;t have our development solely reliant on the happenings in these countries. The auto policy has literally addressed the shortfall of the new tariff regime and expressly stated that for the policy to materialise, the importation of cars through land borders should be banned.

Disappointingly, the influx of imported cars both used and new through our porous borders have been on the rise owing to the inability of the law enforcement agencies to forestall these sharp practices.

To put the concerns of few stakeholders that are clamouring for policy review into perspective, itâ&#x20AC;&#x2122;s of utmost importance to highlight their yearnings and x-ray them accordingly for a holistic approach to the auto policy.

Revenue Loss As the largest market in Africa and the most populous black nation in the world, our policy statements and economy blueprints should be intricately linked to our local market. It will be too simplistic and monistic for government to be solely concerned with raising government revenues on a short-term basis and further deepening the crisis of our economy.

As rightly posited by the DG of LCCI, Mr. Muda Yusuf, the major harbinger of revenue loss is the sharp practices by some auto dealers to â&#x20AC;&#x153;divert vehicles through Cotonouâ&#x20AC;?.

To incentivise importers of used car aimed at generating more income to the port authority is to accepting our systemic failure as a nation and caving into the exploiters of the grey areas of our economy. And this will take us back to the dark ages where the country

Enelamah was a junkyard of rickety vehicles.

For our economy to be sustainable, we must strengthen our border security, declare a state of emergency on smuggling.

At this juncture, we canâ&#x20AC;&#x2122;t afford to rescind the tariff regime of 35 per cent duty and 35 per cent tariff as it will immediately spell doom for local assembly plants and bring the auto industry to its knees thereby amounting to a colossal loss of jobs and investments.

According to research by PWC, the imported used cars dominate the industry, accounting for 74 per cent of all vehicle imports. Ten per cent imported cars are less than three years while 63 per cent are over 11 years. To this end, one can safely assume that a large chunk of cars on Nigerian roads are smuggled through the land borders as only a few berthed the port of the country. Again, to address this is to abate the influx of used car by strictly enforcing a ban on the importation of both used and new cars through the land borders.

Price of Locally Assembled Cars and Market Volume At the inception of the auto policy, thereâ&#x20AC;&#x2122;s

The auto industry as a consumer-facing business is as dependent on well-functioning and widely available ďŹ nancing as any other retail businesses across the globe. Car ďŹ nancing has over 85 per cent market share in car sales in the global market, non-availability of these schemes in Nigeria have continued to make the ownership of a new car a tall order rather than a go-to option for car owners

an alignment of expectations between the local assemblers and Nigerians that the price of cars will be affordable owing to the fact that they are locally made. Paradoxically, however, the prices of new cars skyrocketed contrary to expectations. Sequel to this, it deserves to note that the policy in itself hasnâ&#x20AC;&#x2122;t the prices of the cars up, on the other hand, some extraneous economic variables like forex instability, the dearth of ancillary/component manufacturers in the country have been chiefly responsible for the price hike.

As the purveyors of an import-oriented economy will want us to believe, the auto policy in its true essence is not responsible for the price hike in cars.

You will recall that in 2015, a Made-in-Nigeria Kia Rio was sold for N1.89 million, however, this price was increased to N6.3 million in 2018, as a result of the weak value of the naira. As at 2014, $1 is exchanged at N160, in 2016, 2017 and 2018, the naira was hovering at N350 to N500 to a $1.

Thankfully, through the governmentâ&#x20AC;&#x2122;s effort, the naira is stabilised at N360 to $1, which is still over 125 per cent of the rate in 2014.

To reduce the price of Made-in-Nigeria cars, the government has to make good its promise to work on several initiatives aimed at creating the right operating environment to investors and increased tax incentives to local assemblers as echoed by the Minister of Commerce, Trade and Investment in a stakeholder meeting held in 2017.

Our Resolve It will be a disservice to the country if one should shy away from the sharp practices by some purported assemblers taking advantage of the incentives and exploiting the loopholes in the implementation of the policy. Regardless of how great the policy is, some economic usurpers will always exploit the loopholes in its implementation. It behoves the law enforcement agencies and regulatory bodies to implement this policy and weed out serial abusers of the policy.

Weâ&#x20AC;&#x2122;ve got to make a choice; one with short term gain by incentivising importers of FBUs at the expense of the local assemblers or a long-term gain that helps with the production of made-in-Nigeria vehicles by implementing the policy and further incentivising the local assemblers to help them improve the countryâ&#x20AC;&#x2122;s

backward integration of the economy.

The need for vehicle acquisition scheme cannot be overemphasised, a provision of the scheme will widen cycle of vehicle ownership by making it more accessible and affordable.

The auto industry as a consumer-facing business is as dependent on well-functioning and widely available financing as any other retail businesses across the globe. Car financing has over 85 per cent market share in car sales in the global market, non-availability of these schemes in Nigeria have continued to make the ownership of a new car a tall order rather than a go-to option for car owners.

In the US, roughly $500 billion in new loans and leases are originated annually and 86 percent of new car purchases and 55 percent of used ones rely on borrowed money, with banks, captives, and fleet financiers all playing important roles. Collectively, the US auto finance industry held roughly $1 trillion in outstanding loans and leases in 2015, translating to nearly $111 billion in revenue. Premised on this, the government needs to finalise the single digit vehicle acquisition scheme from financial partners to make the locally manufactured cars accessible to all in the market.

With the provision of the finance scheme, there will be significant growth in the market volume which will, in turn, serve as a motivation to bring in component manufactures. When the car components are manufactured locally, it will drastically reduce the cost of production thereby reducing the prices of the cars ultimately, a value chain that is sustainable.

It will be too devastating to take a cue from neighbouring countries by encouraging importation by auto dealers through incentives on imported cars both new and old at the expense of local investors that had setup multi-billion naira plants in the country.

On the contrary, rather than giving incentives to auto dealers for importing vehicles, a tariff cut should be extended exclusively to only local plants to make them competitive and provide affordable Made-in-Nigeria cars.

While we are not averse to the call for a review, the elements of the review must be directed towards industrialising the economy and keeping the local manufacturers competitive in the market.

Olawale is the Marketing Manager at Kia Motors, Nigeria

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EDUCATION Koiki: Nigeria Can Curtail Out-of-school Children through Population Control Considering the increasing number of out-of-school children in Nigeria, which has been identified as the greatest threat to national security, the Executive Director of Greensprings School, Lagos, Mrs. Lai Koiki has recommended population control and a policy that will make it a crime for parents not to send their children to school. She also proffered solutions to other issues affecting the countryâ&#x20AC;&#x2122;s education sector. Uchechukwu Nnaike reports

T

he problem of out-of-school children is said to be endemic in Nigeria, with about 13.2 million school age children that are currently not in school. Apart from poverty, cultural practises and ignorance, the recent cases of insurgence and violence which displaced many children from their homes contributed to the menace.

To curb this problem and prevent future crisis, the Executive Director of Greensprings School, Lagos, Mrs. Lai Koiki has called for population control in the country to enable the government cater its citizens effectively.

She suggested a maximum of two or three children for each family. â&#x20AC;&#x153;The citizens need to be educated on population control, when we were younger, we had all these family planning organisations and centres advocating and teaching people the need to space children and have few children because if you have many children, you cannot look after them very well and you will not progress and the children will not progress. It is a global phenomenon, however some countries have done well like China.â&#x20AC;?

Koiki, in a chat with journalists in Lagos, also stated that the country needs to get to a point where it is an offence not to send a child to school. â&#x20AC;&#x153;If we donâ&#x20AC;&#x2122;t, we can say it is â&#x20AC;&#x2DC;their childrenâ&#x20AC;&#x2122;, but they are the ones that will come to haunt all of us going forward.â&#x20AC;?

She expressed concern that successive governments and even those vying for political offices are not paying adequate attention to education, saying that without a broad-based education, the country will not make a head way. â&#x20AC;&#x153;When they talk about education, they are probably talking about building schools, we donâ&#x20AC;&#x2122;t even need to build schools, what we need is to ensure that we have enough teachers on ground and policies that will ensure that all the children are in school and learning. Not just putting them in school, ensure that they are learning and the only way to ensure that they are learning is to ensure that those teachers have been trained and ready to take on the challenge.â&#x20AC;?

Koiki also stressed the importance of funding education, saying that funding means that teachers are going to be trained. â&#x20AC;&#x153;Training the teachers is key; if we donâ&#x20AC;&#x2122;t have buildings it doesnâ&#x20AC;&#x2122;t matter, they can learn under the trees as long as they are learning.

According to her, the government can start with members of the National Youth Service Corps (NYSC), which is an army of university graduates that can be trained for about six weeks to go into schools in the first instance so that there are already made teachers, while the government is pulling out its teachers for further training.

Reacting to the suggestions that since government alone cannot fund education, it should adequately fund primary and secondary schools and allow tertiary institutions to start charging tuition fees, the executive director said: â&#x20AC;&#x153;I donâ&#x20AC;&#x2122;t agree with that, but then universities too have to be a bit more creative to generate funds. Even abroad, universities at times run on foreign students. And so we need to get our universities to that point where we are attracting foreign students so that they will pay more

From Left: The Deputy Director of Education at Greensprings School, Lagos, Dr. Barney Wilson with the Executive Director of the school, Mrs. Lai Koiki during a media parley in Lagosâ&#x20AC;Ś recently

while our children will pay home fees. â&#x20AC;&#x153;But beyond that, we also need to get to a point where the students can get loans and things like that to see them through school, there are some that canâ&#x20AC;&#x2122;t even afford it as meagre as that university fees may seem, they canâ&#x20AC;&#x2122;t afford it and so if they are able to get a loan, they money doesnâ&#x20AC;&#x2122;t need to be paid to them, it can be paid to the university and when they graduate, they can start paying back.â&#x20AC;?

Asked how to ensure that students donâ&#x20AC;&#x2122;t only read to pass examination, but read to learn, she said when her school discovered that students only read to pass examination, it adopted the British curriculum, which ensures that students apply what they have learnt. If you crammed it, you cannot apply it; if you have learnt it. In the examination, there is a practical application of what you have learnt. â&#x20AC;&#x153;Nigerian education has to change, students canâ&#x20AC;&#x2122;t keep learning only theories,

If you have many children, you cannot look after them very well; you will not progress and the children will not progress

now the content is rightly available; what you used to go to the library to do, you donâ&#x20AC;&#x2122;t need to go to the library anymore, it is on your phone. That is not education; that has to change that is one of the things keeping the continent back because even those that are in schools are not learning, they are not thinking, they are not applying because there are some questions that donâ&#x20AC;&#x2122;t have a right or wrong answer, you just defend your position logically and get your marks.â&#x20AC;?

On the plans of Greensprings School for 2019, Koiki said the students are evolving and that is her goal, she said the school is expecting many more awards from the students in both national and international competitions. â&#x20AC;&#x153;That is what education is all about and so our children are being prepared for life through developing all the skills that they have, thinking skills especially; our children are privileged children and so it is important that we stretch them so that they know that life is not a bed of roses.â&#x20AC;?

Also, she said the school is expecting a lot of innovations like integrating robotics into mainstream learning as a subject for all students because with the way the world is developing, it is important to further prepare the students for whatever they will come across in future.

Also speaking, the new Deputy Director of Education, Dr. Barney Wilson, said he will bring in over 20 years of academic excellence and experience, and years of knowledge and expertise into Greensprings School.

He said the school is grooming students to think strategically, and to think about

thinking. â&#x20AC;&#x153;So we are graduating thinkers; the world needs thinkers; people who have expertise in thinking, solving problems and looking for solutions that are different. â&#x20AC;&#x153;We want to go beyond rote learning, where students are just learning definitions, but to apply what they are learning. We want to go deeper into application; we want to go deeper into practise.â&#x20AC;?

On his advice to education managers in the country, he said: â&#x20AC;&#x153;We focus on theory and practise; also we want students to have confidence and competence, we want students to know that they know what they know and know that they know it.

It doesnâ&#x20AC;&#x2122;t matter the kind of test you give them, if you know how to apply it, then you know that you know what you know. So it is important to build studentsâ&#x20AC;&#x2122; confidence and competence and make sure they know what they are learning.â&#x20AC;?

He observed that the Nigerian education system is so concerned with test, saying, â&#x20AC;&#x153;so when students sit for those tests, they memorise the exact order of words or definitions that is not what learning is about. It is not important that I give you exactly what you said the way you said it, what is important is do I understand the concept and can I apply it to life, can I apply it to solve problems. â&#x20AC;&#x153;So my advice will be step away from the test, reconstruct education and focus on competence and the ability to apply. Nigerian students know a lot of definitions, my challenge is can they apply them to practical problems that we face every day?â&#x20AC;?

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EDUCATION

CONTISS 15: Police Boss Advises Striking LASPOTECH Staff to Seek Justice in Court Funmi Ogundare The Lagos State Commissioner of Police, Imohimi Edgal has advised protesting members of the Non- Academic Staff Union (NASU) of the Lagos State Polytechnic to approach the court in seeking justice if they feel the State Executive Councilâ&#x20AC;&#x2122;s decision on the implementation of CONTISS 15 migration was wrongly implemented.

The union had penultimate week embarked on an industrial action to demand the reversal of the CONTISS 15 demigration; investigation into the finances of the polytechnic; stoppage of harassment and intimidation of union leaders and members generally.

Other demands are restoration of its check-off dues deduction and other staff welfare deductions; stoppage of administrative recklessness; and the immediate sack of the management team and governing council.

The union also staged a protest at the State Secretariat to seek the state

governmentâ&#x20AC;&#x2122;s immediate intervention in the issue and also expressed concern that the school management had brought in a vigilante group to intimidate the union leaders.

At a peace meeting held between the polytechnic management and the union at the Police Headquarters, Lagos Command on January, 29, Edgal, who was represented by the Deputy Commissioner, Ayuba Elkanah told the protesting union not to jeopardise the peace Lagos state is currently enjoying, but to seek redress at the court if it feels unjustly treated.

Though academic activities are going on smoothly on the campuses of the polytechnic, the commissioner of Police charged the Area â&#x20AC;&#x2DC;Nâ&#x20AC;&#x2122; Commandant and the DPO of Shagamu Road Police Station to take all necessary steps in ensuring that normalcy returns to the institution and that no staff of the polytechnic should be molested or attacked for performing his or her official task.

The Deputy Registrar,

NUT Wants 15% of Annual Budget Allocated to Education Kuni Tyessi in Abuja The leadership of the Nigeria Union of Teachers (NUT) has called on the federal and state governments to ensure that at least 15 per cent of their annual budget is allocated to the education sector.

The union also frowned at the high and exorbitant fees charged by private schools in the country and urged the federal government to check and discourage the ugly trend.

The NUT President, Dr. Nasir Idris, who spoke in Abuja at the 2019 Solemn Assembly of the union, which was designed to kick-start its activities in the New Year, noted that UNESCO recommended 26 per cent of annual budget to be allocated to education, thus federal and state governments should ensure that the policy of giving the education sector a minimum of 15 per cent of the entire annual budget is sustained. â&#x20AC;&#x153;For instance, only about N620.5 billion representing 7.02 per cent of the 2019 budget has been allocated to the education sector out the total N8.83 trillion budget estimate presented

by President Muhammadu Buhari to the National Assembly. â&#x20AC;&#x153;In the same vein, higher budgetary allocation should be devoted to teacher training and retraining. We also call on the government at all levels to save the teaching and learning of Mathematics, sciences

and ICT in our schools to enable Nigeria catch up with other countries of the world in the science and technology-driven global economy.â&#x20AC;?

According to Idris, public schools in Nigeria need higher funding and support to galvanize them for higher performance and productivity.

He condemned the situation where the private sector tends to commercialise education and seek to make it accessible only to the rich and privileged class through exorbitant fees charged in such schools with their local and international collaborators.

He said the children of all, irrespective of the socio-economic status should enjoy an unhindered access to education as a social right. â&#x20AC;&#x153;It is the earnest expectations of the well-meaning teachers, lovers of education and all men and women of goodwill that the hallowed red chamber will accord this all important bill the accelerated attention and concurrent passage, which it deserves. â&#x20AC;&#x153;It is our ultimate expectations that President Mohammadu Buhari will assent this bill into an act of the National Assembly before the forthcoming general elections or soonest thereafter,â&#x20AC;? he said.

He said the NUT is determined to canvas and pursue its goal of getting the Nigerian schools fixed, which he said is a collective responsibility of all.

Public Relations and Information Unit, Mr. Olanrewaju Kaye told THISDAY that the management of the institution has reported the matter to the government and is expecting the government to take a decisive action on it.

The Rector, Mr. Oluyinka Sogunro reiterated that the polytechnic acted on

the Lagos State Executive Councilâ&#x20AC;&#x2122;s directive in line with the National Board for Technical Education (NBTEâ&#x20AC;&#x2122;s) policy document.

He informed the peace meeting that, â&#x20AC;&#x153;in order to pave way for the outstanding promotions and annual increments for 2016/2017 and 2017/2018 appraisal years, the staff through

the polytechnic governing council appealed to the state government for the withdrawal of the court case earlier filed to restrain the unions from disrupting academic activities of the polytechnic.

Lagos State government on compassionate grounds discontinued the case and consequently, the case was

dismissed by the National Industrial Court (NIC).â&#x20AC;?

Others present at the peace meeting were: CSP Vera Ameh-Akpa, Officer in Charge of Special Investigation Bureau, ACP Ayo Sonubi, Area Commandant of Area N, DPO, Shagamu Road, Adekunle Omisakin and principal officers of the polytechnic.

L-R: The Chairman, Governing Council, Federal College of Education (Technical), Umunze, Anambra State, Hon Philips Shekwo; the Provost, Dr. Dr. Tessy Okoli; former Provost, Prof. Josephat Ogbuagu and his wife Dr. Adaora, during the send-forth ceremony organised in honour of the former provostâ&#x20AC;Ś recently

Tech-U Holds Second Matriculation, to Appoint Professors of Practice

Lagos Introduces French Quiz Contest in Secondary Schools

The Vice-Chancellor of the First Technical University (Tech-U), Ibadan, Professor Ayobami Salami, has announced plans by the institution to appoint Professors of Practice to join its growing faculty.

Salami, who made this known during the universityâ&#x20AC;&#x2122;s second matriculation ceremony and investiture of university scholars, said: â&#x20AC;&#x153;As a way of enriching the experience of our students, TechU is putting finishing touches to a policy of attracting highly experienced industry players for appointment as Professors of Practice.â&#x20AC;?

He explained that Professors of Practice are professionals, either practicing or retired with or without traditional academic backgrounds, who have distinguished themselves in their fields of practice.

Salami said the policy is strategic to the university, which prides itself for its disruptive model of tertiary technical education, as it would deepen the integration of academic scholarship with practical industry experience.

According to him, when fully implemented, the university would set the pace as the first institution in Nigeria to introduce this innovation. â&#x20AC;&#x153;Knowing that delivering on our mandate of a unique educational model requires capable, experienced and passionate manpower, we have consistently ensured that we

The Lagos State Government has added a new diet of quiz competition to the co-curricular activities of secondary schools in the state. The maiden edition of the competition conducted in French Language tagged, â&#x20AC;&#x2DC;A la Connaissance de Lagosâ&#x20AC;&#x2122;, meaning â&#x20AC;&#x2DC;How much of Lagos do you know?â&#x20AC;&#x2122;, held at the Immaculate Heart Comprehensive School Hall, Maryland.

Eighteen schools from the six education districts competed at the grand finale of the competition which saw Sito Gbetrome Senior Secondary School, Seme, Badagry smiling home with the star prize. Ikeja Senior High School and Badagry Grammar School emerged second and third positions respectively.

In her remarks, the Deputy Governor, Dr. Oluranti Adebule lauded the ingenuity of the Multilingual Centre for initiating the quiz competition in French Language, saying that it has challenged the students to know more about their immediate environment and answer questions in French.

Adebule, who was represented by the Director, Basic Education Services, Mr. Abiodun Oni, said the new competition was meant to redirect the minds of the students towards keeping

recruit the brightest hands in the various fields of study to teach our students. I am proud to say our growing faculty consists of some of the best from the available pool of experts. We have also engaged scholars in the diaspora as visiting lecturers to strengthen the pool.â&#x20AC;?

The vice-chancellor added: â&#x20AC;&#x153;On our part, we will not leave any stone unturned in ensuring that we motivate our staff, who already are about the best paid in the public tertiary education system in Nigeria, to be able to nurture our students to become intellectual giants who dictate trends in their fields.â&#x20AC;?

The matriculation ceremony, which came 10 months after the first, had in attendance the Oyo State Commissioner for Local Government and Chieftaincy Affairs, Mr. Bimbo Kolade and other dignitaries, including chairmen of local government areas in the state.

The event also featured the investiture ceremony of 14 outstanding students, dubbed as Tech-U Scholars, who bagged first class in their first session with the Cumulative Grade Point Average (CGPA) ranged between 4.91 and 4.50 on a scale of maximum of 5.0.

Salami stated that out of all the pioneer students honoured, 12 of them were beneficiaries of the scholarship scheme endowed by chairmen of local government areas of Oyo State.

abreast of happenings in their immediate environment, have a sense of history and develop penchant for reading wider and broadening their knowledge.

She recalled how the state government had collaborated with TV5 World Service, a multimedia platform for the teaching and learning of French Language; and ensure that the Multilingual Centre is certified as an International Language Resource Centre (ILRC). â&#x20AC;&#x153;400 French teachers were trained to take full advantage of the terms of certification in realisation of the importance of French as a major lingua franca in the world,â&#x20AC;? she said.

Adebule added that the intensive study of French Language and the introduction of quiz and debate competitions in the language in the state is capable of producing a corps of diplomats as French and English are the leading international languages of the world.

She advised the students to study the French Language in other to boost communication with other Francophone countries aside commerce, socio-cultural interaction as well as the nationâ&#x20AC;&#x2122;s security management. â&#x20AC;&#x153;French Language graduates stand better chance of employment by multinational companies and organisations.â&#x20AC;?

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Stakeholders Brainstorm on Boosting Education for Better Lagos Funmi Ogundare The Foreshore School, Ikoyi, Lagos recently hosted an education stakeholdersâ&#x20AC;&#x2122; meeting where participants shared ideas on how to enhance human capital, technology and infrastructure for quality education in the state.

The meeting had in attendance members of the Association of Private Educators in Nigeria (APEN), Lagos State gubernatorial aspirant and his running mate, Mr. Babajide Sanwo-Olu and Dr. Femi Hamzat; the Director General, Quality Assurance Office, Ministry of Education, Mrs. Ronke Soyombo; consultants, non-governmental organisations, among others.

The stakeholders, who were concerned about how education budget in the state is being spent, emphasised the need to scale up the training of teachers in schools to enhance teaching and learning.

They stressed the need to leverage on technology platforms to teach, assess, test and reinforce learning, in conjunction with the private sector and development partners.

They also called for the strengthening of the management of education in the state and ensuring that the functions of State Universal Basic Education Board (SUBEB), Lagos State Teaching Service Commission (TESCOM) and the Ministry of Education are synergized.

The Administrator of the school, Miss Oyindamola Egbeyemi described education as key to the future, and critical to the development of all other sectors, adding that it is important that stakeholders collaborate to move the sector forward.

An education consultant, Mrs. Folashade Adefisayo expressed concern that public schools donâ&#x20AC;&#x2122;t hold stakeholders accountable for learning outcomes, while stressing the need to make education attractive for every child of school age.

She stressed the need to create a value change orientation among parents, adding that they should know their responsibilities as parents instead of pushing them to the schools.

In his remarks, Hamzat expressed concern about the

population growth in Lagos, saying that the rate at which people migrate into the state is affecting the payment of WAEC fees of students. â&#x20AC;&#x153;Lagos State pays WAEC fees and people keep on bringing students from other states to register them in our schools. The challenge on our hands is about regulating our population. How do we stem the issue of overpopulation?â&#x20AC;?

Also speaking, Soyombo said there must be synergy between public and private schools, adding, â&#x20AC;&#x153;there is need to raise the morale of teachers and leaders must be more accountable to their duties. We also need to ensure a behavioural change among stakeholders.â&#x20AC;?

Sanwo-Olu, while fielding questions from journalists on how to address the issue of over-population and ensure quality delivery of education in the state, said if elected, there will be a data generation strategy that will enable the state to plan adequately. â&#x20AC;&#x153;We will be doing a lot of advocacy and engagement with the community, churches and mosques, we will be having these conversations so that

parents can come out fully for us to know the number we are dealing with and know how to better plan most of the things we have been talking about. It is a good challenge and believe that with the support of everybody, we should be able to achieve something.â&#x20AC;?

On his assessment of the meeting, he said: â&#x20AC;&#x153;It is work in progress, we have said that our government will be inclusive, open to all, listening and talking to all the stakeholders in the sector. What it has shown is that we have people that have passion for education, people that have data and information and they can contribute these ideas into our programme and that is why we have been engaging ourselves to ensure things work very well. â&#x20AC;&#x153;Sometimes you donâ&#x20AC;&#x2122;t need to reinvent it; you just need to domesticate it so that it can work for you. There are things that they do and know about to enrich our understanding of what we need to do. The bottom line is we have children that we have to prepare for, our pupils have to get quality education and that is what it is all about.â&#x20AC;?

KEHINDE OMORU www.kayomoru.com

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Ă&#x2039;Ă&#x2013;Ă?Ă&#x2122; Ă&#x152;Ă?Ă?Ă&#x2DC; Ă&#x2014;Ă&#x2039;Ă?Ă&#x17E;Ă?Ă&#x153;Ă?Ă&#x;Ă&#x2013;Ă&#x2013;ĂŁ Ă?Ă&#x153;Ă?Ă&#x2039;Ă&#x17E;Ă?Ă&#x17D; Ă&#x17E;Ă&#x2122; ËŤĂ&#x201C;Ă&#x2DC;Ă Ă&#x201C;Ă&#x17E;Ă?ËŹ ĂŁĂ&#x2122;Ă&#x;Ë&#x153; Ă?Ă?Ă?Ă&#x2014;Ă&#x201C;Ă&#x2DC;Ă&#x2018;Ă&#x2013;ĂŁ Ă?Ă&#x2DC;Ă?Ă&#x2122;Ă&#x;Ă&#x153;Ă&#x2039;Ă&#x2018;Ă? ĂŁĂ&#x2122;Ă&#x; Ă&#x2039;Ă&#x2DC;Ă&#x17D; Ă&#x2018;Ă&#x;Ă&#x201C;Ă&#x17D;Ă? ĂŁĂ&#x2122;Ă&#x; Ă&#x17E;Ă&#x2122; Ă?Ă&#x2019;Ă&#x2122;Ă&#x2122;Ă?Ă? Ă?Ă&#x153;Ă&#x2122;Ă&#x2014; Ă&#x17E;Ă&#x2019;Ă?Ă&#x2014;Ë&#x203A; Ă&#x2039;Ă Ă? ĂŁĂ&#x2122;Ă&#x; Ă&#x2019;Ă?Ă&#x2039;Ă&#x153;Ă&#x17D; Ă&#x2122;Ă? Ă&#x2039;Ă&#x2DC;Ă&#x17E;Ă&#x201C;Ă&#x2122;âĂ&#x201C;Ă&#x17D;Ă&#x2039;Ă&#x2DC;Ă&#x17E;Ă?ËŁ Ă&#x2122; ĂŁĂ&#x2122;Ă&#x; Ă&#x2022;Ă&#x2DC;Ă&#x2122;ĂĄ Ă&#x17E;Ă&#x2019;Ă&#x2039;Ă&#x17E; Ă?Ă&#x2122;Ă&#x2013;Ă&#x2122;Ă&#x;Ă&#x153;Ă?Ă&#x;Ă&#x2013; Ă&#x2039;Ă&#x2DC;Ă&#x17D; Ă Ă&#x201C;Ă Ă&#x201C;Ă&#x17D; Ă?Ă&#x153;Ă&#x;Ă&#x201C;Ă&#x17E;Ă? Ă&#x2039;Ă&#x2DC;Ă&#x17D; Ă Ă?Ă&#x2018;Ă?Ă&#x17E;Ă&#x2039;Ă&#x152;Ă&#x2013;Ă?Ă? Ă?Ă&#x2122;Ă&#x2DC;Ă&#x17E;Ă&#x2039;Ă&#x201C;Ă&#x2DC; Ă&#x2039;Ă&#x2DC;Ă&#x17E;Ă&#x201C;Ă&#x2122;âĂ&#x201C;Ă&#x17D;Ă&#x2039;Ă&#x2DC;Ă&#x17E;Ă?ËŁ Ě&#x2122;Ă?Ă&#x2019;Ă?Ă?Ă&#x2022; Ă&#x2122;Ă&#x;Ă&#x17E; Ă&#x2014;ĂŁ Ă?Ă&#x2019;Ă&#x2122;Ă&#x153;Ă&#x17E; Ă&#x2014;Ă&#x2122;Ă Ă&#x201C;Ă? ËŠ Ă&#x2DC;Ă&#x17E;Ă&#x201C;Ă&#x2122;âĂ&#x201C;Ă&#x17D;Ă&#x2039;Ă&#x2DC;Ă&#x17E;Ă?ËŞ Ă&#x2122;Ă&#x2DC; Ă?Ă&#x2019;Ă&#x201C;Ă&#x2DC;Ă&#x17D;Ă? Ă&#x2014;Ă&#x2122;Ă&#x153;Ă&#x; Ă&#x2122;Ă&#x; Ă&#x;Ă&#x152;Ă? Ă&#x2019;Ă&#x2039;Ă&#x2DC;Ă&#x2DC;Ă?Ă&#x2013;Ě&#x161;Ë&#x203A; Ă&#x2DC;Ă&#x17E;Ă&#x201C;Ă&#x2122;âĂ&#x201C;Ă&#x17D;Ă&#x2039;Ă&#x2DC;Ă&#x17E;Ă? Ă&#x2014;Ă&#x2039;Ă&#x201C;Ă&#x2DC;Ă&#x17E;Ă&#x2039;Ă&#x201C;Ă&#x2DC; ĂŁĂ&#x2122;Ă&#x;Ă&#x153; Ă&#x2122;Ă Ă?Ă&#x153;Ă&#x2039;Ă&#x2013;Ă&#x2013; Ă&#x161;Ă&#x153;Ă&#x2122;Ă&#x17D;Ă&#x;Ă?Ă&#x17E;Ă&#x201C;Ă Ă&#x201C;Ă&#x17E;ĂŁ Ă&#x152;ĂŁ Ă&#x2014;Ă&#x2039;Ă&#x201C;Ă&#x2DC;Ă&#x17E;Ă&#x2039;Ă&#x201C;Ă&#x2DC;Ă&#x201C;Ă&#x2DC;Ă&#x2018; ĂŁĂ&#x2122;Ă&#x;Ă&#x153; Ă&#x201C;Ă&#x2014;Ă&#x2014;Ă&#x;Ă&#x2DC;Ă? Ă?ĂŁĂ?Ă&#x17E;Ă?Ă&#x2014;Ë&#x203A; Ă&#x2122;Ă&#x2013;Ă&#x2122;Ă&#x;Ă&#x153;Ă?Ă&#x;Ă&#x2013; Ă?Ă&#x153;Ă&#x;Ă&#x201C;Ă&#x17E;Ă? Ă&#x2039;Ă&#x2DC;Ă&#x17D; Ă Ă?Ă&#x2018;Ă?Ă&#x17E;Ă&#x2039;Ă&#x152;Ă&#x2013;Ă?Ă? Ă?Ă?Ă&#x161;Ă?Ă?Ă&#x201C;Ă&#x2039;Ă&#x2013;Ă&#x2013;ĂŁ Ă&#x17E;Ă&#x2019;Ă&#x2122;Ă?Ă? ĂĄĂ&#x201C;Ă&#x17E;Ă&#x2019; Ă&#x161;Ă&#x;Ă&#x153;Ă&#x161;Ă&#x2013;Ă?Ë&#x153; Ă&#x152;Ă&#x2013;Ă&#x;Ă?Ë&#x153; Ă&#x153;Ă?Ă&#x17D;Ë&#x153; Ă&#x2122;Ă&#x153;Ă&#x2039;Ă&#x2DC;Ă&#x2018;Ă? Ă&#x2039;Ă&#x2DC;Ă&#x17D; ĂŁĂ?Ă&#x2013;Ă&#x2013;Ă&#x2122;ĂĄ Ă?Ă&#x2122;Ă&#x2013;Ă&#x2122;Ă&#x;Ă&#x153;Ă? Ă&#x2039;Ă&#x153;Ă? Ă?Ă&#x;Ă&#x2013;Ă&#x2013; Ă&#x2122;Ă? Ă&#x17E;Ă&#x2019;Ă&#x153;Ă?Ă? Ă&#x2014;Ă&#x2039;Ă&#x201D;Ă&#x2122;Ă&#x153; Ă&#x2039;Ă&#x2DC;Ă&#x17E;Ă&#x201C;Ă&#x2122;âĂ&#x201C;Ă&#x17D;Ă&#x2039;Ă&#x2DC;Ă&#x17E; Ă Ă&#x201C;Ă&#x17E;Ă&#x2039;Ă&#x2014;Ă&#x201C;Ă&#x2DC;Ă? Ă?Ă&#x2039;Ă&#x2013;Ă&#x2013;Ă?Ă&#x17D; Ă?Ă&#x17E;Ă&#x2039;Ă?Ă&#x2039;Ă&#x153;Ă&#x2122;Ă&#x17E;Ă?Ă&#x2DC;Ă?Ë&#x153; Ă&#x201C;Ă&#x17E;Ă&#x2039;Ă&#x2014;Ă&#x201C;Ă&#x2DC; Ă&#x2039;Ă&#x2DC;Ă&#x17D; Ă&#x201C;Ă&#x17E;Ă&#x2039;Ă&#x2014;Ă&#x201C;Ă&#x2DC; Ë&#x203A; Ă&#x17E;Ă&#x2019;Ă?ĂŁ Ă&#x201C;Ă&#x2014;Ă&#x161;Ă&#x153;Ă&#x2122;Ă Ă? ĂŁĂ&#x2122;Ă&#x;Ă&#x153; Ă&#x161;Ă&#x153;Ă&#x2122;Ă&#x17D;Ă&#x;Ă?Ă&#x17E;Ă&#x201C;Ă Ă&#x201C;Ă&#x17E;ĂŁ Ă&#x2039;Ă&#x17E; ĂĄĂ&#x2122;Ă&#x153;Ă&#x2022; Ă&#x152;ĂŁ Ă&#x2039;Ă?Ă&#x17E;Ă&#x201C;Ă Ă&#x2039;Ă&#x17E;Ă&#x201C;Ă&#x2DC;Ă&#x2018; Ă&#x2039;Ă&#x2DC;Ă&#x17D; Ă?Ă&#x17E;Ă&#x153;Ă?Ă&#x2DC;Ă&#x2018;Ă&#x17E;Ă&#x2019;Ă?Ă&#x2DC;Ă&#x201C;Ă&#x2DC;Ă&#x2018; ĂŁĂ&#x2122;Ă&#x;Ă&#x153; Ă&#x201C;Ă&#x2014;Ă&#x2014;Ă&#x;Ă&#x2DC;Ă? Ă?ĂŁĂ?Ă&#x17E;Ă?Ă&#x2014; Ă?Ă&#x2122; Ă&#x17E;Ă&#x2019;Ă&#x2039;Ă&#x17E; Ă&#x201C;Ă&#x17E; Ă?Ă&#x2039;Ă&#x2DC; Ă?Ă&#x201C;Ă&#x2018;Ă&#x2019;Ă&#x17E; Ă&#x17D;Ă&#x201C;Ă?Ă?Ă&#x2039;Ă?Ă?Ă?Ë&#x153; Ă&#x201C;Ă&#x2DC;Ă?Ă?Ă?Ă&#x17E;Ă&#x201C;Ă&#x2122;Ă&#x2DC;Ă?Ë&#x153; Ă&#x2039;Ă&#x2018;Ă?Ă&#x201C;Ă&#x2DC;Ă&#x2018;Ë&#x153; Ă?Ă&#x17E;Ă&#x153;Ă?Ă?Ă? Ă&#x2039;Ă&#x2DC;Ă&#x17D; Ă?Ă&#x2039;Ă&#x17E;Ă&#x201C;Ă&#x2018;Ă&#x;Ă?Ë&#x203A; Ă&#x2122; Ă&#x17E;Ă?Ă&#x2039;Ă?Ă&#x2019;Ă?Ă&#x153;Ă?Ë&#x153; Ă&#x2018;Ă&#x2122; Ă&#x17E;Ă&#x2019;Ă&#x153;Ă&#x2122;Ă&#x;Ă&#x2018;Ă&#x2019; ĂŁĂ&#x2122;Ă&#x;Ă&#x153; Ă&#x17D;Ă&#x2039;ĂŁ ĂĄĂ&#x201C;Ă&#x17E;Ă&#x2019; ĂĄĂ?Ă&#x2013;Ă&#x2013;Ě&#x2039;Ă&#x161;Ă&#x2013;Ă&#x2039;Ă&#x2DC;Ă&#x2DC;Ă?Ă&#x17D; Ă&#x152;Ă&#x2039;Ă&#x2013;Ă&#x2039;Ă&#x2DC;Ă?Ă?Ă&#x17D; Ă&#x2014;Ă?Ă&#x2039;Ă&#x2013;Ă? Ă&#x2039;Ă&#x2DC;Ă&#x17D; Ă?Ă&#x2DC;Ă&#x2039;Ă?Ă&#x2022;Ă?Ë&#x153; Ă&#x201C;Ă&#x2DC;Ă?Ă&#x2122;Ă&#x153;Ă&#x161;Ă&#x2122;Ă&#x153;Ă&#x2039;Ă&#x17E;Ă&#x201C;Ă&#x2DC;Ă&#x2018; Ă?Ă&#x2122;Ă&#x2013;Ă&#x2122;Ă&#x;Ă&#x153;Ă?Ă&#x;Ă&#x2013; Ă?Ă&#x153;Ă&#x;Ă&#x201C;Ă&#x17E;Ă? Ă&#x2039;Ă&#x2DC;Ă&#x17D; Ă Ă?Ă&#x2018;Ă?Ă&#x17E;Ă&#x2039;Ă&#x152;Ă&#x2013;Ă?Ă? Ă&#x201C;Ă&#x2DC;Ă&#x17E;Ă&#x2122; ĂŁĂ&#x2122;Ă&#x;Ă&#x153; Ă&#x17D;Ă&#x201C;Ă?Ă&#x17E;Ë&#x203A; Mrs Kehinde Omoru writes from the UK

FCET Umunze Council Honours Former Provost

L-R: Head of the Foreshore School, Ikoyi, Lagos, Mrs. Helen Oyewole; Lagos State gubernatorial aspirant, Mr. Babajide Sanwo-Olu; Coordinator of the Primary School, Mrs. Remi Adesokan; and the Administrators of the school, Mrs. Olubunmi Egbeyemi and Miss Oyindamola Egbeyemi with the pupils, during Sanwo-Oluâ&#x20AC;&#x2122;s visit to the school... recently

Greensprings Celebrates 34 Years of â&#x20AC;&#x2DC;RedeďŹ ning Education in Africaâ&#x20AC;&#x2122; Greensprings School, Lagos has demonstrated that success is achieved only through consistent efforts as it celebrates 34 years of providing impactful education in Nigeria and Africa.

According to the Executive Director, Mrs. Lai Koiki, â&#x20AC;&#x153;as the first Thinking School in Nigeria, Greensprings has solidified its position as the thought leader in providing a well-rounded education and developing growth mindset in students. â&#x20AC;&#x153;We are proud of our achievements over the years; we are building a legacy in the education section that will redefine Africaâ&#x20AC;&#x2122;s education system. By being the first Thinking School in Nigeria, we are committed to preparing children who will lead change

in the world through analytical thinking.â&#x20AC;?

Among the achievements of Greensprings School last year included the opening of the third campus in Ikoyi in September. The new campus caters for preschoolers and elementary children between the ages of two and 10. The opening of the campus was a strategic move to cater for the demand for quality education by residents of Ikoyi and its environs.

Koiki said: â&#x20AC;&#x153;The establishment of the Ikoyi Campus will bring us one step closer towards achieving our vision of leading holistic, inclusive, innovative, world-class education in Africa.â&#x20AC;?

Another major achievement of the school last year was the

opening of Anthos House, a unique school for children with special needs. The school was staffed with experienced teachers and adequately equipped with all the facilities needed to provide the learning support for children with special needs.

The school has made a lot of progress within a few months of operation.

Besides opening a new campus and a special school last year, students of the school won special recognition awards in the IGCSE examination.

Six students from the school emerged top in Nigeria for various subjects.

Beyond achievements, the school also gave back to the community last year. The Greensprings Kanu Football Camp 2018 ended with an

award of scholarship to Abbey Fawaz of Jubilee Model School, Surulere, having emerged the most promising football talent in the competition.

Fawaz is now on a full scholarship in Greensprings School and it is a dream come true for the upcoming football star.

At the schoolâ&#x20AC;&#x2122;s 34th anniversary celebration recently, Koiki, who was asked about the plan for the next 10 years said: â&#x20AC;&#x153;There is talk about setting up a university; it is a dream and our dreams do come true.â&#x20AC;?

Greensprings School was established in 1985 and ever since it has been delivering worldclass and life-transforming educational services to children from preschool to secondary school and unto IB Diploma.

The former Provost, Federal College of Education (Technical), Umunze, Anambra State, Professor Josephat Ogbuagu has expressed confidence in the ability of his successor, Dr. Tessy Okoli to take the college to new heights. He said Okoli with over 25 years working experience in the college has the competence to transform the institution.

Ogbuagu stated this during the recent send-forth ceremony organised in his honour by the sixth Governing Council and Management of the college.

The event was attended by members of council chaired by Hon. Philips Shekwo; Mrs. Lilian Haruna, representing the Federal Ministry of Education; Chief Jonathan Achumie, representing the National Commission for Colleges of Education (NCCE).

Also present were other principal officers of the college, including the Deputy Provost, Dr. Christopher Ugwuogo; the Registrar, Sir Augustine Udensi; the Bursar, Sir Patrick Omile; and the Librarian, Dr. Adolphus Ugwuanyi.

According to Ogbuagu, the new provost has proved her mettle in the college as a reputable scholar, whose academic pedigree and contributions encouraged the growth of the institution.

The Chairman, Governing Council, Hon Philips Shekwo, who described leadership as a sacrifice, commended Ogbuagu

for his visionary leadership that raised the stakes of the college and wished him well in his future endeavours.

He promised that the current management would continue to consolidate on the gains of the previous administration and solicited for partnership with all stakeholders to achieve a common goal of repositioning the college.

Shekwo explained that their appointment as council members comes with enormous responsibility, stressing that the members would continue to harness skilful potential and stimulate policies that would move the college forward.

In her remarks, Okoli said her predecessor left legacies that cannot be erased in the college and commended him for various infrastructural uplifts, as well as facilitating the commencement of degree programme in affiliation with the Nnamdi Azikiwe University, Awka. She promised that the door of the college would always remain open to him and prayed for his elevation.

The former acting Chairman of the Council, Ibrahim Abdu Radda described Ogbuagu as a leader par excellence, a man dedicated to duty. He said the former provost redefined leadership by his impassioned zeal to work, adding that it would be difficult to surpass his numerous achievements in the college.

T H I S D AY Ëž Í´Ë&#x153; Ͱ͎ͯ͡

35

ASUU - The Model for Nigeriaâ&#x20AC;&#x2122;s Rebirth Professor Joseph Ushie In Nigeria the struggle for independence was borne mainly by the nationâ&#x20AC;&#x2122;s intellectuals.

Broadly speaking, these intellectuals were of two sub-families: the political class and those from the academia whose input was very loudly from the cultural flank. The following words of the University of Sheffield Professor of Sociology, Ankie Hoogvelt would help us to better appreciate the role of culture in the thralldom or freedom of a people: â&#x20AC;&#x153;No society can successfully dominate another without the diffusion of its cultural patterns and social institutions, nor can any society successfully diffuse all or most of its cultural patterns and social institutions without some degree of dominationâ&#x20AC;?.

This is what many educated persons know, even as culture almost means nothing to us today as a neo-colonial people. This is why men like Dr. Nnamdi Azikiwe, Dennis Osadebay (who fought both on the political and cultural flanks by writing anti-colonial poetry), Chinua Achebe, Wole Soyinka, John Pepper Clark-Bekederemo, Gabriel Okara, John Munonye, Cyprain Ekwensi, Amos Tutuola and all the other early Nigerian writers of the period of the agitation for independence should be very important to the country today.

In the end, independence came and the newly formed Nigerian government, still appreciative of the indispensable potential of the intellectual play for the development of any society, placed utmost premium on the nationâ&#x20AC;&#x2122;s education. As an indication of this, the professorâ&#x20AC;&#x2122;s salary then was much higher than the cabinet ministerâ&#x20AC;&#x2122;s and the politician, working in close association and affiliation with the academia, provided whatever facilities the universities needed, thus placing the early Nigerian universities among the very best 10 within the Commonwealth of Nations.

One clear harvest from this state of the Nigerian university of that time is in the high quality of its products, which the late Chief Chukwuemeka Odumegwu Ojukwu in his interview published in the Nigerian Armyâ&#x20AC;&#x2122;s official publication on the Civil War, attested to: â&#x20AC;&#x153;For the sake of posterity let it be known that in the year 1968 indigenous Biafran rockets were able to strike their targets six and a half miles... A group produced indigenous rockets that could go and be guided to their targets six and a half miles awayâ&#x20AC;?.

Commenting elsewhere on the scientists produced by Nigerian universities of this era, Ojukwu maintains: â&#x20AC;&#x153;The people who did all these are still around... The only thing is that they cannot do it without motivation. One thing I can assure you is that even if I were holding a cabinet meeting and the scientists came with a proposal and a note was passed to me, I would stop the cabinet meeting because I thought they were more important by then than anything elseâ&#x20AC;?. And this is the place still accorded the intellectuals of all the advanced and fast-developing economies of the world even now, which has informed UNESCOâ&#x20AC;&#x2122;s emphasis on nations devoting not less than 26 per cent of their annual budgets to education.

But after the war, the military took over governance and down went the appreciation and significance and importance of the role of the intellectual, particularly those of the classroom, among the priorities of the country. The salaries and significance and respect for and general welfare of the intellectual in the classroom were not only drastically downgraded, funding of the universities began to wane, and with all this the erstwhile respect and promise that Nigeria as a nation had held within the international community began to wither. By 1972, the administration of General Yakubu Gowon did the hitherto unthinkable of sacking and ordering seasoned professors out of their residences on university campuses. But, with their role in the struggle for independence still fresh in their minds, and a feeling that things could get out of hand for the nation if the trend was left unchecked, the university lecturers settled for unionization, and by about 1976, the Nigeria University Teachers Association, a forerunner to the present Academic Staff Union of Universities (ASUU) was formed. This association and

Minister of Education, Mallam Adamu Adamu its subsequent incarnations accoutered and have been fighting for the very soul of this otherwise great country till today, both from the education and political flanks.

Unfortunately, to many Nigerians today, ASUU seems to have become synonymous with strikes and nothing more. But to the committed members of the union and other discerning, patriotic Nigerians, ASUU is the last and only hope of the country. For, it is only in ASUU that real democracy still exists and the unionâ&#x20AC;&#x2122;s members are largely still oblivious of the divisive tendencies we find in the larger society along the lines of region, religion, ethnicity, state and other forms of favoritism. It is in ASUU that â&#x20AC;&#x153;the force of oneâ&#x20AC;&#x2122;s argument rather the argument of forceâ&#x20AC;? determines the direction the union follows. Every strike action goes through a painstakingly rigorous and dizzying protocol or procedure of, first, convincing the members of all the efforts made to have a dialogue with the government of the day, then consultation among the branches, organisation of referendums (which are often repeated and all dissenting voices are listened to and accommodated), and the resolutions of the followership consequently direct the actions of the principal officers and board of trustees. It is the one union whose members a vice-chancellor could bruise today only for the members to embark on strike the following day on behalf of same vice-chancellor if he is wrongfully removed from office.

ASUU is the only union which devotes about the most time of each and every National Executive Council meeting to detailed discussion of all aspects of the Nigerian nation, with reports from every nook and cranny of the society, and a communiquĂŠ issued to the nation. And it is, possibly, the only union which has stoically intervened in the plight of the downtrodden through its direct contribution to the wellbeing of Internally Displaced Persons (IDPs) in camps across the country. Also, ASUU is one union which, unlike other unions, places premium on the total health of its work environment in the interest of the nation by embedding the health of infrastructure and the condition of the students among its perennial demands of government. ASUUâ&#x20AC;&#x2122;s philosophy of self-sacrifice showed up once when during a national strike, salaries of members were stopped and an ASUU-friendly state governor offered to pay the salaries of lecturers in a federal university in his state, but the lecturers politely and appreciatively turned down the offer, insisting on being left on the same page with their comrades in the rest of the country throughout the strike.

There is also a certain regime of prudence and austerity at all times, except that this is not extended to matters bordering on the state of health of members and feeding

and safety. But besides these, members, including the principal officers of the union, are encouraged, if not expected, to travel by road, share hotel rooms where necessary, go for the cheapest hotels and avoid, as much as possible, possible contamination with the goodies of the government especially when on ASUU official assignments. Above all, ASUU rules have no sacred cows, such that at the moment, a one-time president of the union who went against the rules after his tenure, has been suspended.

Today, Nigeriaâ&#x20AC;&#x2122;s academics remain among the poorest earners even among their colleagues in Africa. No Nigerian government has pushed their pay near what is generally considered â&#x20AC;&#x153;the African averageâ&#x20AC;?.

Yet, ASUU bore the worst from of the brunt during the struggle to oust the military from governance, a struggle which resulted in the present attempt at civilian rule. Lecturers under the auspices of the union had their meagre salaries withheld for months during strikes in the era of military rule, especially as most of the strikes had an anti-military element. Twice or so all loyal members of the union were sacked and then later reinstated, including an attempt to replace them, but which failed because no one outside the country responded to the governmentâ&#x20AC;&#x2122;s advertisement based on the salaries advertised. Yet, something happened during this period that Nigerians are unaware of. In the cause of the struggle to oust the military and restore democracy in the country, some foreign bodies, believing in the integrity of the union, offered to support the union financially; but the union gratefully turned down all such offers and elected to combat Nigeriaâ&#x20AC;&#x2122;s military rule on its own terms and using its own resources only.

Today, the civilians, many of who were complicit with the military regimes and benefited robustly from those regimesâ&#x20AC;&#x2122; misadventure into political space, are reaping from the sufferings and deprivations the lecturers went through, and are ready to annihilate the class of Nigerians called lecturers. Today, the gulf between the elite in politics and the intellectual in the classroom has continued to widen, and this is also how the gap between the glorious Nigeria of the 1960s and todayâ&#x20AC;&#x2122;s ghost of a great nation has become in the aspects of national unity and integration, prudence and probity, national development and altruistic commitment to the cause of the nation as we still find within the membership of ASUU. Thus, while products of the Nigerian university of the 1960s could fashion out a rocket that could get its target six-and-a-half miles away, it is uncertain if our graduates of today would know what is meant by a rocket. And, curiously, those Nigerian lecturers whom the inclement conditions at home have driven to

other lands quite regularly have the misfortune of teaching in their classes hundreds of the children of the rich Nigerians, whose parents have sent abroad for qualitative education, which their fathers have denied the rest of the Nigerian children. This is one sour outcome of the total divorce of the lecturer from the process of governance and of the pauperization of the Nigerian lecturer.

Yet, when the occasion calls for it, as it is now the case with the unionâ&#x20AC;&#x2122;s current strike, Nigerians, generally, put the blame on the union, which they have either blindly or mischievously come to identify with strikes.

At the moment, the political leadership of Nigeria has brought the country almost to the precipice in all facets of existence: infrastructure, stark absence of national unity and cohesion, ignorance among the electorate, unemployment resulting in youth restiveness, cultism, armed robbery, kidnapping, insurgency, death or near death of education, health facilities and the near-complete absence of an acceptable value system.

Worse, many of the countryâ&#x20AC;&#x2122;s institutions such as the security agencies, ombudsmeninstitutions, the judiciary, the legislature, pressure groups, including, unfortunately students, have all become complicit and are on their knees in competitive unquestioning obeisance to whichever is the government of the day, no matter that their own primary constituency is at risk. In all this, however, certain things are certain. If the ruining political class does not murder the country, we will require something revolutionary to return the nation to its pre-military path which correctly and altruistically placed emphasis on education, national unity and cohesion. The new birth of the country will, hence, come through either or both of two ways. Either there will be a revolutionary regime which will recognise and work in harmony with the nationâ&#x20AC;&#x2122;s intellectuals to re-start a holistic development process from the ashes of the current ruins; or the ordinary people, the systematically disenfranchised, will rise on their own and embark on a mass movement that will free the country from its current predatory stranglehold by the thieving political class who have taken us so perilously close to utter damnation. Definitely, such a moment will come when sanity will be restored to the nation, particularly to its political class which has been so visionless in ruination of everything of value that can propel growth and development. Such a moment will come when the senatorâ&#x20AC;&#x2122;s winnertakes-all monthly income of N36,000,000 will be brought to the neighbourhood of the professorâ&#x20AC;&#x2122;s monthly income of N450,000 and the brigadier-generalâ&#x20AC;&#x2122;s N600,000 and, also to some reasonable closeness to the N30,000 minimum wage being fought for by the Nigerian Labour Congress. Definitely, such a moment will come when an emerging patriotic political leader will confer regularly with the women and men in the ivory towers on policies and methods of implementation that can advance our economy and improve the general standard of living of Nigerians as it is currently the case in other nations that have left us behind. But when that time finally comes, the members of ASUU will be the only ones standing who can serve as models for our unity, prudence in the management of our resources, patriotic and altruistic commitment to the goals of nationhood such as the founders of our great nation had, and as it is the case with all other nations of our world, who are genuinely committed to growth and development.

That is when a crosspollination of ideas between the town and gown will restore such universities as the types that produced those scientists who could produce rockets for the Biafran side of the Nigerian Civil War in 1968. But then, Nigerians owe the union the duty of understanding its noble vision and mission, and aligning themselves with these so that the union will survive till that moment when its intervention will be needed; otherwise it could be equally starved to death by these gods of dust whose fingers on any aspect of our national life turn the sector to dust. These are the gods of dust we call the Nigerian ru(ining)ling class.

Prof. Ushie wrote in from the University of Uyo

36

T H I S D AY Ëž Í´Ë&#x153; Ͱ͎ͯ͡

CITYSTRINGS

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

Empowering Indigent Women for Better Future David-Chyddy Eleke in Awka writes on the move by the senator representing Anambra Central senatorial district, Victor Umeh, in empowering 170 indigent women in Anambra State

Senator Victor Umeh and some of the indigent women he empowered

I

n fulfilment of his pledge, Senator Victor Umeh, representing Anambra Central Senatorial Zone, has empowered 170 indigent women in rural parts of Anambra State with N50,000 each to start up or support their businesses. The senator who choose between six to eight indigent women in 30 communities where he visited to canvass for votes said the funds would help them support their small businesses or even start new ones to support their families.

Umeh said the initiative was to support at least six indigent women in every community of the 58 communities that make up Anambra Central senatorial zone. In Akwa Ukwu community of Idemili South Local Government Area, where the senator began the empowerment, a 70-year-old woman, Madam Patricia Uzochukwu who is known in the community as a broom maker said with the money donated to her by the senator, she hopes to expand her business.

She told THISDAY, â&#x20AC;&#x153;I make brooms, that is what I am know for in this community. I make it, and one of my grandsons takes it round the community in a wheel barrow. I have been using it to help myself and even train my grandchild in school, and now that I have received empowerment, I may consider expanding my business.â&#x20AC;?

Uzochukwu said she usually approaches palm wine tappers who help her with palm fronts, while she usually buys rubber and other plastics, which she uses to bind the head of the broom for use after

processing it. â&#x20AC;&#x153;With this funds, I can now buy more rubber because it is the only thing I usually buy in my business.

Every other thing depends on my expertise. I am very grateful to Chief Victor Umeh for doing this.â&#x20AC;?

Umeh said all the 58 communities in the central senatorial zone of the state would receive similar empowerment, and that would bring the total number of rural women empowered to about 350 women. â&#x20AC;&#x153;Empowerment remains my major

Empowerment remains my major reason for going to the senate, and I will continue in that line... I have several projects that are in the 2019 budget for the people of the zone, and once the implementation starts, people will see more of my handwork

reason for going to the senate, and I will continue in that line. I have over 300 students of various universities on my scholarship scheme, and through the National Directorate of Employment(NDE), we have trained and distributed starter kits to 151 trainees. We have also distributed 35 tricycles to youths on various communities in the zone, that is what we call empowerment. â&#x20AC;&#x153;I have several projects that are in the 2019 budget for the people of the zone, and once the implementation starts, people will see my handwork.

I have done all these within just one year of being in the senate, so you can imagine what the people will benefit when we get the chance of a full four-year term? That is why I am here to beg for your votes,â&#x20AC;?

Umeh told the people.

For many, Umeh has lived up to expectations given his drive to empower the youths in his constituency. During his campaign in 2015, he had promised among other things to use his position as a member of the National Assembly to empower youths of his constituency. In several places where he took his campaigns to, Umeh stated that as a legislator, he may not exactly have the resources to embark on project execution, but with quality representation, he would be able to attract from the federal government, its agencies and parastatals empowerment kits, which would engage the youths and keep them away from vices.

His hopes were dashed when after the elections, Mrs. Uche Ekwunife was announced as the winner of the Anambra Central Senatorial Zone

election. But in January 2018, Umeh got his chance when he won the rerun election overwhelmingly and was sworn in.

Within 10 months of settling down at the National Assembly, Umeh has provided serial empowerment for youths of the zone, ranging from trainings, scholarships and disbursement of tricycles and others.

Recently, the senator who is popularly called Ohamadike, empowered and distributed starter kits to 151 trainees at Neni, Anaocha Local Government Area headquarters in the state , which he attracted from the National Directorate of Employment (NDE).

On the empowerment scheme, 151 persons were trained by him and empowered with N4million, but beyond these, the Central Bank of Nigeria (CBN) will empower them with N1million to N10million loan, which they can accessed as far as they are one of those that have been trained by NDE. The CBN will provide them with the equipment for the business.

Umeh also at a different events awarded scholarships to 70 indigent undergraduates in his constituency- 10 each from the seven local government areas that make up the senatorial zone.

Meanwhile, one of the many empowerment schemes carried out

by Umeh was by empowering his people with transport business. During the recent disbursement of 34 tricycles attracted by him to youths of the area, Umeh said he had to move immediately he learnt of the empowerment which has already been received by other lawmakers.

37

T H I S D AY ˾ Í´Ë&#x153; Ͱͮͯͷ

CRIME&SECURITY

Anambra Govt. Steps into Case of Alleged Child Marriage in Ozubulu

CRIME SITUATION REPORTS

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Source: Lawpadi.com

EMERGENCY NUMBERS FOR IMO STATE POLICE COMMAND

Izuchukwu Igwilo and the underaged girl, Chinwe at their introduction

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Lady Ndidi Mezue, Commissioner Anambra State Ministry of Women and Children Aï¬&#x20AC;airs

Source: Police Force Headquarters, ABUJA.

38

T H I S D AY Ëž Í´Ë&#x153; 2019

BUSINESS/MONEYGUIDE

ABCON Faults Alleged Arbitrage in Forex Market Obinna Chima The Association of Bureaux De Change Operators of Nigeria (ABCON) yesterday described as untrue the insinuation that there is arbitrage opportunity in the foreign exchange (forex) market.

ABCON President, Alhaji Aminu Gwadabe said this while presenting a speech during the launch of â&#x20AC;&#x2DC;ABCONâ&#x20AC;&#x2122;s Live Automation Project,â&#x20AC;&#x2122; in Lagos. â&#x20AC;&#x153;I can tell you that N306 to a dollar is not even a transaction rate, N306 to a dollar is only for the payment of debt by the federal government and for some few critical transactions. Our members would like to know that market where we can get dollar at N306, because if there is, I am sure some of us would be aware of it,â&#x20AC;? Gwadabe told his audience.

According to the currency dealer, the naira has been stable at both the official and parallel markets despite huge campaign spending by political parties. He linked the stable exchange rate to measures instituted by the Central Bank of Nigeria (CBN) and his association to ensure that foreign exchange demand at the retail end of the market was met.

Gwadabe listed such measures to include the sustenance of dollar supply to over 4,100 BDC operators across the country

through the International Money Transfer Operations (IMTOs) forex window, which he said had helped the status of the local currency. â&#x20AC;&#x153;The naira remains stable despite political partyâ&#x20AC;&#x2122;s campaigns and spending across the nation.

The strategic partnership, actions and pre-actions of the CBN and ABCON have stopped distortions to the exchange rate due to ongoing politicking and campaign spending in the country â&#x20AC;&#x153;ABCON has on its part, ensured that its members continue to make dollar accessible to critical end-users like travellers demanding personal and business travel allowances, school fees and medical bills payment abroad among others,â&#x20AC;? he said.

He said ABCON was aware that money laundering and terrorist financing posed not only enormous threat, but also enormous challenges to the economy, security, and social life of Nigerians, the West Africa region and globally.

Owing to this, he disclosed that a joint study conducted by the Global Financial Integrity (GFI) and the African Development Bank (AfDB) had shown that between 2000 and 2009, about $30.4 billion was illicitly transferred out of Africa each year. Over a longer period of 30 years, calculated from 1980, the resource drain was between

$1.2 and $1.3 trillion.

According to this, outflows from West and Central Africa stood at 37 per cent, followed

by North Africa -31 per cent and Southern Africa - 27 per cent.

The illicit financial flows (IFFs) are derived from various predicate offences of money laundering. â&#x20AC;&#x153;I want to assure you that BDCs under ABCON do not want to be part of the groups contributing to the IFFs and therefore, we are doing everything within our power to ensure we comply with AML/ CFT rules in Nigeria,â&#x20AC;? he said.

The ABCON boss pointed out that the BDC sector is confronted with many challenges that have continued to defile solutions.

Some of them he listed include multiple exchange rate, abnormal bank charges, Value Added Tax (VAT) and Commission on Turnover (COT), parallel market operators and illegal International Money Transfer Operators (IMTOs), porous international boarders, complex documentation requirements and poor capacity/ skills of operators. â&#x20AC;&#x153;For instance, the increasing difficulties arising from over regulation and complex documentation requirements that licensed BDCs are facing in carrying out their daily legitimate operation is disturbing.

Emefiele ForeseesTomato Revolution in Nigeria The Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, has expressed optimism that another revolution, similar to what was recorded in the production of rice production, was about to occur in the tomato sub-sector.

The CBN Governor said this while speaking during a facility tour of Dangote Tomato Processing Factory and farms in Kadawa, Garun Malam Local Government Area of Kano State.

He noted that from what he saw in Kadawa, the Dangote Tomato Plant is the only real processing plant in Nigeria for now, unlike others that were merely importing tomato puree and concentrates and packaging same in the country.

He further stated that the initial challenges encountered by the project have been overcome with the acquisition of the greenhouses for the production of high yield seedlings with the collaboration of the CBN. Emefiele therefore, expressed delight that â&#x20AC;&#x153;with the initial

daily production of a million tomato nurseries alone, more people would be encouraged to embrace farming thereby creating jobs for our people along the entire value chain and reverse the exportation of jobsâ&#x20AC;?.

The CBN Governor, according to a statement, also hinted that going by the brief he got from Chairman of Dangote Farms, Alhaji Sani Dangote, when the factory becomes fully operational, the country would not only be self-sufficient in tomato production in the next one year, but would also be able to export to other African countries in the next three years.

While assuring tomato farmers of all the necessary support with the formal take off Anchor Borrowers Programme for tomato production as a result of the off-taker arrangement with Dangote Factory, Emefiele also used the opportunity of call on well-meaning individual to come out and support the efforts of the Bank to create jobs in Nigeria.

Also, the Minister of Ag-

riculture, Chief Audu Ogbe assured the farmers that with the firm commitment by CBN, he can only assure the farmers that â&#x20AC;&#x153;better days are hereâ&#x20AC;? just as he assured the farmers of protective policies which may include inclusion of tomato in the import prohibition list.

The Deputy Governor of Kano State, Alhaji Nasir Yusuf Gauna, in his remarks stated that the state has really keyed into large scale agricultural production by partnering with Dangote Farms by way of rendering all necessary assistance for the take-off of the project. According to him, the state government has also been subsidizing farming activities in several ways.

On his part, the chairman of Dangote Farms, Alhaji Sani Dangote expressed the readiness of the company to produce about one million seedlings daily in addition to processing enough for domestic consumption provided there are right policies in place including restriction on importation of tomato puree.

UBAâ&#x20AC;&#x2122;s â&#x20AC;&#x2DC;LEOâ&#x20AC;&#x2122;Records One Million Users The United Bank for Africa (UBA) yesterday disclosed that its chatbot, Leo, now covers 17 African countries and has one million subscribers.

The bankâ&#x20AC;&#x2122;s head of online banking, Augustine Abolusoro, in a presentation titled: â&#x20AC;&#x2DC;Game of Bots,â&#x20AC;&#x2122; at the ongoing Social Media Week 2019, in Lagos yesterday, disclosed that Leo is not just an artificial intelligence (AI) powered chatbot; it is also a multi-lingual chatbot with capability to speak languages like English, French, and Portuguese. The company plans to include Yoruba and other Nigerian languages very soon, he said.

â&#x20AC;&#x153;Leo was developed with best in class AI technology: Natural language processing and machine learning,â&#x20AC;? Abolusoro said, adding that â&#x20AC;&#x153;It enables financial inclusion.â&#x20AC;?

He added: â&#x20AC;&#x153;As we continue to advance our work on AI-driven developments, it is important that we listen to our users today and further enhance Leo to align to client feedback in order to better meet and anticipate needs and even give them increased value as Leo clocks one.â&#x20AC;?

This milestone, according to him, reflects the bankâ&#x20AC;&#x2122;s continued focus on providing industryleading digital capabilities as

part of its high-tech, high-touch client experience. â&#x20AC;&#x153;Everything learnt over the last one year of Leoâ&#x20AC;&#x2122;s work will help UBA improve on its digital offerings,â&#x20AC;? Abolusoro said.

Abolusoro noted that as a result of its features, Leo which is also available on Facebookowned WhatsApp has gained one million subscribers. Till date it has hosted 70 million conversations.

While five per cent of the subscriber population is within the age of 65 and above, an overwhelming 72 per cent are between 18 and 34 years, he disclosed.

L-R: Head, Vertical Markets, Nigeria Interbank Settlement System (NIBSS), Samuel Oluyemi; President, Association of Bureaux De Change Operators of Nigeria (ABCON), Dr. Aminu Gwadabe; Assistant Director, Trade & Exchange Dept, Central Bank of Nigeria (CBN), Adebola Ayedun and Senior Detective Superintendent, Nigeria Financial Intelligence Unit (NFIU), Adamgbe Williams, at the launch of ABCONâ&#x20AC;&#x2122;s automation portal in Lagosâ&#x20AC;Śyesterday.

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&#x2122;Ă&#x;Ă&#x153;Ă?Ă? Ě&#x2039;

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&#x2122;Ă&#x2DC;Ă?Ă&#x17E;Ă&#x2039;Ă&#x153;ĂŁ Ă&#x2122;Ă&#x2013;Ă&#x201C;Ă?ĂŁ Ă&#x2039;Ă&#x17E;Ă? Ě&#x2039; ͯ͹Ϲ

OPEC DAILY BASKET PRICE AS AT MONDAY, 4 JANUARY 2019

Vienna, Austria, 5 February 2019--The price of OPEC basket of fourteen crudes stood at $62.32 a barrel on Monday, compared with $60.93 the previous Friday, according to OPEC Secretariat calculations. (View Archives).

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), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

SOURCE: OPEC headquarters, Vienna

39

T H I S D AY Ëž Í´Ë&#x153; 2019

MARKET NEWS

Gains by Banking Stocks Sustain Equities Market Rally Goddy Egene Gains recorded by Stanbic IBTC Holdings Plc, FBN Holdings Plc, Access Bank Plc, GTBank Plc and Beta Glass Plc helped to sustained the positive performance of the stock market yesterday. After declining the previous week due to profit taking, the market opened the week on positive note on Monday, rising by 0.35 per cent.

The bullish performance was sustained yesterday as the Nigerian Stock Exchange (NSE) All-Share Index (ASI) appreciated by 0.09 per cent to close at 30,773.57, while market capitalisation added N11 billion to close at N11.5 trillion.

In all, 21 stocks appreciated yesterday while 12 depreciated.

Beta Glass Plc led the price gainersâ&#x20AC;&#x2122; table with 10 per cent , trailed by ABC Transport Plc

P R I C E S MAIN BOARD

F O R DEALS

with 8.3 per cent. Consolidated Hallmark Insurance Plc chalked up 6.9 per cent as investors reacted to news of the company successfully injecting fresh capital of N734.5 million through a private placement of 1.130 billion ordinary shares of 50 kobo each at 65 kobo per share.

Sunu Assurances Plc garnered 5.0 per cent, while Regency Alliance Insurance Plc, United Capital Plc, AIICO

S E C U R I T I E S MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

Insurance Plc and Oando Plc gained 4.7 per cent, 3.1 per cent, 3.1 per cent, and 3.0 per cent in that order.

Conversely, A.G Leventis Nigeria Plc led the price losers with 6.9 per cent, trailed by Nigerian Aviation Handling Company Plc with 3.7 per cent. The Managing Director of NAHCO, Mrs. Olatokunbo Fagbemi, last week at the NSE assured stakeholders that the firm would sustain its positive

T R A D E D MAIN BOARD

A S

performance, deliver better services and higher returns to shareholders going forward. â&#x20AC;&#x153;My top priority is very simple, it is to get everything right because when we get everything right for the customer and we deliver the right kind of service, then we get the right kind of income that can trickle down to profit and it is from the profit that we are going to be able to pay the right kind of dividend,â&#x20AC;? Fagbemi said.

O F

She said going forward, the company would enhance its processes to create an enviable place to work in and ensure it operates in line with international standards. â&#x20AC;&#x153;A lot of work has been done in the past, what I will do is build on what is there, the areas where there are gaps, my priority will be to close those gaps and ensure that we deliver services in a safe and secured manner,â&#x20AC;? Fagbemi said.

0 4 / 0 2 / 2 0 1 9 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

˾ WEDNESDAY, FEBRUARY 6, 2019

40

Wednesday, February 6 2019

THISDAY AFRINVEST 40 INDEX

Thisday Afrinvest 40 Index Up 0.21% Yesterday, the Thisday Afrinvest 40 Index gained 21bps to

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

close at 1,501.04 propped by gains in GUARANTY (+0.7%), Ticker

NIGERIAN BREWERIES (+0.1%) and FBNH (+1.4%). These ƐƚŽĐŬƐ ĐƵŵƵůĂƟǀĞůLJ ĂĐĐŽƵŶƚ ĨŽƌ Ϯϴ͘ϲй ŽĨ ƚŚĞ ŝŶĚĞdž͘

ƵůůŝƐŚ ZƵŶ WĞƌƐŝƐƚƐ ŽŶ DŝůĚ ĂƌŐĂŝŶ ,ƵŶƟŶŐ͙ ASI up 0.1%

Performance in today͛s trading session was slightly bullish, ƵƉ Ϭ͘ϭй ĚƵĞ ƚŽ ƐƵƐƚĂŝŶĞĚ ďĂƌŐĂŝŶ ŚƵŶƟŶŐ ŽŶ - STANBIC (+2.0%) GUARANTY (+0.7%) and FBNH (1.4%). Consequently, investors͛ wealth increased slightly by N11.0bn as market

THISDAY AFRINVEST 40 1,501.04

7.6%

5.9x

0.8x

5.1%

13.5%

34.1%

5.6%

5.1x

1.9x

7.9%

19.7%

11.9%

-1.3%

-1.3%

23.7%

3.4%

3.9x

0.9x

12.0%

25.6%

8.8%

-0.1%

1.9%

20.1%

9.8%

19.7x

4.2x

5.7%

5.1%

7.6%

-4.4%

-3.7%

85.8%

26.3%

25.7x

20.0x

3.3%

3.9%

189.50

-0.3%

1,420.00

0.0%

4

Nestle Nigeria PLC

5

Nigerian Brew eries PLC

6

FBN Holdings Plc

7

Cement Co Northern Nigeria PLC

8

United Bank for Africa PLC International Brew eries PLC

10

ǀŽůƵŵĞ ĂŶĚ ǀĂůƵĞ ƚƌĂĚĞĚ ĂĚǀĂŶĐĞĚ ϯ͘ϵй ĂŶĚ ϭϴϭ͘Ϯй ƚŽ

11

Access Bank PLC

Divinden Earnings d Yield Yield

20.7%

-0.7%

Dangote Cement PLC

P/BV

-1.2%

22.75

2

P/E

50.1%

18.5%

3

ROA

-1.0%

0.7%

Zenith Bank PLC

ROE

-2.7%

34.10

SEPLAT Petroleum Development C

(N473.2m) and FBNH (N140.9m) were the top traded by

0.21%

Guaranty Trust Bank PLC

9

ĚŽŵŝŶĂƚĞĚ ƚƌĂĚŝŶŐ ĂĐƟǀŝƚLJ ĂƐ GUARANTY (N1.7bn), ZENITH

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

1

ĐĂƉŝƚĂůŝƐĂƟŽŶ ƌŽƐĞ ƚŽ Eϭϭ͘ϱƚŶ͘ ĐƟǀŝƚLJ ůĞǀĞů ŝŵƉƌŽǀĞĚ ĂƐ

ϭϵϬ͘ϯŵ ƵŶŝƚƐ ĂŶĚ EϮ͘ϵďŶ ƌĞƐƉĞĐƟǀĞůLJ͘ ĂŶŬŝŶŐ ƐƚŽĐŬƐ

Current Price

78.00

0.1%

5.4%

-8.8%

-0.4%

13.8%

6.4%

26.1x

3.7x

4.8%

3.8%

7.50

1.4%

4.8%

-5.7%

-6.3%

6.6%

0.8%

5.4x

0.4x

3.3%

18.6%

22.00

0.0%

5.0%

13.4%

13.4%

34.2%

19.6%

5.3x

1.6x

5.6%

18.8%

7.20

0.0%

4.0%

-6.5%

-7.7%

15.4%

1.8%

3.3x

0.5x

11.8%

30.7%

-23.8%

-3.2%

30.25

0.0%

3.4%

-0.8%

-4.0%

530.00

0.0%

2.9%

-17.2%

-17.2%

25.9%

15.3%

2.3x

0.5x

3.4%

43.2%

6.30

1.6%

3.1%

-7.4%

-3.1%

14.1%

1.7%

2.6x

0.4x

10.5%

38.2%

2.1%

14.4%

7.4x

12

Ecobank Transnational Inc

14.05

0.0%

2.8%

0.4%

-1.7%

12.1%

1.0%

4.4x

0.5x

13

Stanbic IBTC Holdings PLC

46.90

2.0%

2.5%

-2.2%

-2.2%

35.7%

4.6%

6.9x

2.2x

14

Unilever Nigeria PLC

36.90

0.0%

2.4%

-0.3%

-0.3%

24.7%

11.5%

21.2x

15

Lafarge Africa PLC

12.40

0.0%

1.6%

-0.4%

3.3%

-53.7%

-7.9%

1.2%

-9.7%

-9.7%

8.5%

4.5%

-1.2%

22.7%

2.6x

1.4%

4.7%

0.8x

11.7%

-50.8%

1.7x

2.8%

5.5%

16

Guinness Nigeria PLC

65.00

0.0%

value while for the top traded by volume we also had

17

Okomu Oil Palm PLC

82.00

0.0%

1.4%

7.6%

7.6%

39.3%

29.7%

7.8x

2.7x

3.7%

12.8%

GUARANTY (N49.2m), ZENITH (N20.7m) and FBNH ;Eϭϴ͘ϵŵͿ͘

18

Total Nigeria PLC

220.90

0.0%

1.4%

8.8%

8.8%

34.6%

7.5%

7.7x

2.5x

8.0%

13.0%

19

11 PLC

180.00

0.0%

1.2%

-3.0%

-3.0%

38.0%

16.8%

6.0x

2.0x

4.4%

16.6%

20

Flour Mills of Nigeria PLC

18.55

0.0%

0.9%

-19.7%

-16.4%

6.6%

2.0%

8.6x

0.5x

5.4%

11.7%

21

Oando PLC

5.00

3.1%

1.1%

0.0%

4.2%

10.9%

1.7%

4.2x

0.3x

22

Fidelity Bank PLC

2.40

0.4%

1.3%

18.2%

18.2%

11.3%

1.5%

3.1x

0.4x

4.6%

31.9%

Bullish Performance Across Sectors 5 sectors under our coverage advanced in today͛s trading

ƐĞƐƐŝŽŶ ůĂƌŐĞůLJ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ĐŽŶƟŶƵĞĚ ďĂƌŐĂŝŶ ŚƵŶƟŶŐ͘ dŚĞ

18.2x

24.0%

23

Transnational Corp of Nigeria

1.27

-1.6%

0.9%

-3.8%

-1.6%

13.6%

3.0%

6.0x

0.8x

1.5%

16.5%

24

Dangote Sugar Refinery PLC

13.50

-3.2%

0.8%

-11.5%

-8.8%

32.6%

16.4%

5.4x

1.6x

9.3%

18.6%

25

Diamond Bank PLC

2.31

0.0%

0.8%

7.4%

-5.8%

-0.7%

Insurance index led gainers up 1.0% due to gains in AIICO

26

FCMB Group Plc

2.09

-1.4%

0.7%

10.6%

16.1%

8.4%

1.2%

2.7x

0.2x

4.8%

(+3.1%) while the Oil & Gas and Consumer Goods indices also

27

UAC of Nigeria PLC

9.00

0.0%

0.5%

-7.7%

-5.8%

0.4%

0.2%

70.8x

0.4x

7.4%

1.4%

28

Sterling Bank PLC

2.35

-1.7%

0.6%

23.7%

23.7%

10.6%

1.1%

6.2x

0.6x

0.9%

16.2%

29

Presco PLC

60.00

0.0%

0.3%

-6.3%

-6.3%

37.0%

24.8%

2.4x

0.8x

3.3%

42.2%

30

NASCON Allied Industries PLC

17.90

2.3%

0.3%

-0.6%

-0.6%

47.0%

17.5%

9.3x

4.2x

8.4%

10.7%

31

Forte Oil PLC

27.00

0.0%

0.3%

-5.9%

-3.6%

84.6%

8.3%

11.1x

2.1x

6.25

0.0%

0.3%

11.6%

11.6%

11.3x

0.6x

26.00

0.0%

0.3%

29.4%

17.6%

17.3%

1.8%

7.2x

1.1x

ŝŶĐŚĞĚ Ϭ͘ϰй ĂŶĚ Ϭ͘ϯй ƌĞƐƉĞĐƟǀĞůLJ ĨŽůůŽǁŝŶŐ ƉƌŝĐĞ ĂƉƉƌĞĐŝĂƟŽŶ ŝŶ OANDO (+3.1%), NASCON (+2.3%) and NIGERIAN BREWERIES ;нϬ͘ϭйͿ͘ ^ŝŵŝůĂƌůLJ͕ ƚŚĞ ĂŶŬŝŶŐ ĂŶĚ

0.2x

-30.4% 36.6%

9.0%

32

Union Bank of Nigeria PLC

Industrial Goods indices appreciated 0.2% apiece, following

33

Julius Berger Nigeria PLC

gains in GUARANTY (+0.5%), ACCESS ;нϭ͘ϲйͿ͕ ĂŶĚ BETAGLAS

34

PZ Cussons Nigeria PLC

11.30

0.0%

0.2%

-6.6%

-8.1%

1.1x

1.3%

35

Chemical and Allied Products P

31.75

0.0%

0.2%

-8.9%

-8.9%

66.2%

30.2%

14.8x

9.9x

6.5%

36

Wema Bank PLC

0.69

3.0%

0.2%

9.5%

9.5%

6.6%

0.8%

7.9x

0.5x

37

Beta Glass PLC

66.00

10.0%

0.2%

-3.4%

-3.4%

17.7%

11.5%

8.0x

1.3x

1.6%

12.5%

38

Dangote Flour Mills Plc

6.05

0.8%

0.1%

-11.7%

-8.3%

14.9%

4.2%

5.4x

0.8x

3.3%

18.6%

(+10.0%).

/ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ DĂŝŶƚĂŝŶƐ WŽƐŝƟǀĞ DŽŵĞŶƚƵŵ Investor ƐĞŶƟŵĞŶƚ ĂƐ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ

declined. The best performing stocks were BETAGLAS (+10.0%), ABCTRANS ;нϴ͘ϯйͿ ĂŶĚ CHIPLC ;нϲ͘ϵйͿ ǁŚŝůĞ ƚŚĞ worst performers were led by AGLEVENT (-ϲ͘ϵйͿ͕ NAHCO (3.7%) and DANGSUGAR (-ϯ͘ϮйͿ͘ tĞ ĞdžƉĞĐƚ ďĂƌŐĂŝŶ ŚƵŶƟŶŐ to further persist but do not rule out the possibility of sellŽīƐ ŝŶ ƐƵďƐĞƋƵĞŶƚ ƚƌĂĚŝŶŐ ƐĞƐƐŽŝŶƐ ĂƐ ǁĞ ĂƉƉƌŽĂĐŚ ƚŚĞ ŐĞŶĞƌĂů ĞůĞĐƟŽŶƐ͘

Transcorp Hotels Plc

6.10

0.0%

0.1%

0.0%

0.0%

6.9%

3.8%

11.9x

0.8x

2.0%

8.4%

40

1.96

1.0%

0.1%

7.1%

7.1%

10.5%

3.3%

10.2x

1.0x

3.1%

9.8%

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

T o p 10 G a i n e r s T ic k er

P ric e

P ric e C hg %

B ET A GLA S

66.00

10.0%

GUA R A N T Y

49.2

0.7%

0.39

8.3%

Z EN IT H B A N K

20.7

-0.7%

R EGA LIN S

0.22

4.8%

FB NH

18.9

1.4%

UC A P

3.28

3.1%

F ID ELIT YB K

15.6

0.4%

A B CTRA NS

T ic k er

Vo lum e

P ric e C hg %

A IIC O

0.66

3.1%

T R A N SC OR P

13.1

-1.6%

OA N D O

5.00

3.1%

D IA M ON D B N K

11.7

0.0%

WEM A B A N K

0.69

3.0%

UB A

8.2

0.0%

C UT IX

1.95

2.6%

ST ER LN B A N K

4.9

-1.7%

N A SC ON

17.90

2.3%

J A P A ULOIL

3.8

0.0%

J A IZ B A N K

0.50

2.0%

A C C ESS

3.5

1.6%

T ic k er

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

P ric e

P ric e C hg %

T ic k er

Value

A GLEVEN T

0.27

-6.9%

GUA R A N T Y

1671.1

0.7%

NA HCO

3.32

-3.8%

Z EN IT H B A N K

473.2

-0.7%

D A N GSUGA R

1.4%

P ric e C hg %

13.50

-3.2%

FB NH

140.9

H ON YF LOUR

1.20

-2.4%

NB

122.9

0.1%

ST ER LN B A N K

2.35

-1.7%

D A N GC EM

95.3

-0.3%

T R A N SC OR P

1.27

-1.6%

UB A

59.2

0.0%

FCM B

2.09

-1.4%

ST A N B IC

49.4

2.0%

A F R IP R UD

4.10

-1.0%

F ID ELIT YB K

37.2

0.4%

22.75

-0.7%

N EST LE

36.6

0.0%

1.80

-0.6%

F LOUR M ILL

33.5

0.0%

Z EN IT H B A N K UA C -P R OP

(A Dealing Member of the Nigerian Stock Exchange)

6.7% 12.7%

AXA Mansard Insurance PLC

T o p 10 L o s e r s

Afrinvest Securities Limited (RC 603 315)

13.9%

39

;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ ƐƚƌĞŶŐƚŚĞŶĞĚ ƚŽ ϭ͘ϴdž ĨƌŽŵ Ϭ͘ϵdž

recorded yesterday as 21 stocks advanced while 12

8.8% 3.8%

Investment Research

Brokerage Ayodeji Ebo | aebo@afrinvest.com

Robert Omotunde |

Bolaji Fajenyo | bfajenyo@afrinvest.com

Jolomi Odonghanro | jodonghanro@afrinvest.com

romotunde@afrinvest.com

41

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MARKET NEWS

Consolidated Hallmark Insurance Gets N735m Capital Via Private Placement Goddy Egene Consolidated Hallmark Insurance (CHI) Plc has succeeded in attracting N734.5 million fresh capital through a private placement of 1.130 billion ordinary shares of 50 kobo each at 65 kobo per share. Following the successful placement, the Nigerian Stock Exchange (NSE) yesterday listed the additional shares.

In notification, the NSE said: Dealing members are hereby

notified that additional 1,130 billion ordinary shares of CHI Plc were listed on the Daily Official List of the NSE The Nigerian Stock Exchange today, Tuesday, 5 February 2019.

The additional shares listed on the exchange arose from CHI Plcâ&#x20AC;&#x2122;s placing of 1,130 billion ordinary shares of 50 kobo each at 65 kobo per share. With this listing of the additional 1,130 billion ordinary shares, the total issued and fully paid up shares of CHI Plc has now increased

A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager.

Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return.

An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these â&#x20AC;&#x2DC;sharesâ&#x20AC;&#x2122; on the

from 7.0 billion to 8.130 billion ordinary shares of 50 kobo each.

Shareholders of the company had last November, at an extra ordinary general meeting (EGM), approved the private placement.

The company had said the private placement was next in the series of proactive efforts of the board and management to boost the working capital and adequately position it as a leading player in the underwriting of big ticket insurance transactions.

CHI Plc successfully raised

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 04Feb-2019, unless otherwise stated.

N500 through the rights issue to existing shareholders of 1.0 billion shares that was 108 per cent subscribed during the last quarter of 2017 but concluded in the first quarter of 2018.

The Managing Director of CHI Plc, Mr. Eddie Efekoha, had said the shareholders of the company have often been delighted with the regular dividend payments over the years. According to him, out of 10 financial years that the company has been quoted on the

NSE, it has paid out dividends seven times amounting to a total of N1.22 billion.

The company had ended the nine months ended September 30, 2018, with improved performance.

For instance, CHI Plcâ&#x20AC;&#x2122;s profit after tax (PAT) rose significantly to N356 million from the N209 million recorded during the corresponding period of 2017.

Also, the company has also been consistent in promptly meeting its claims payment

obligations to customers. Over N11.7 billion has been expended on claims in the last five years (from 2014 to September 2018).

Efekoha said future plans of the company includes broadening its product offerings to take advantage of the on-going market development initiatives of the industry regulator and strengthening its technology in order to deepen its footprints in the retail market whilst delighting its existing corporate customers.

Offer price: The price at which units of a trust or ETF are bought by investors.

Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return.

NAV: Is value per share of the real estate assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 1 270 1680 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund N/A N/A N/A Afrinvest Plutus Fund N/A N/A N/A Nigeria International Debt Fund N/A N/A N/A ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund 0.85 0.86 0.98% ACAP Income Funds 0.62 0.62 11.33% 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 N/A N/A N/A AIICO Balanced Fund N/A N/A N/A ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 16.26 16.75 -1.99% ARM Discovery Fund 352.86 363.50 -1.06% ARM Ethical Fund 28.57 29.43 1.16% ARM Money Market Fund 1.00 1.00 13.18% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 14.35% Paramount Equity Fund 11.54 11.83 -1.48% Women's Investment Fund 100.95 103.54 -1.57% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund N/A N/A N/A Cordros Milestone Fund 2023 N/A N/A Cordros Milestone Fund 2028 N/A N/A CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund 1.00 1.00 13.34% Coronation Balanced Fund 0.83 0.84 Coronation Fixed Income Fund 1.14 1.14 1.38% EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A 100.00 100.00 12.65% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 12.98% 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 1,204.32 1,205.09 1.59% FBN Heritage Fund N/A N/A N/A FBN Money Market Fund 100.00 100.00 13.91% FBN Nigeria Eurobond (USD) Fund - Institutional $115.33 $115.73 1.26% FBN Nigeria Eurobond (USD) Fund - Retail $115.30 $115.70 1.49% FBN Nigeria Smart Beta Equity Fund 146.72 148.87 -2.19% 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 1.19 1.21 -2.76% Legacy Debt Fund 3.28 3.28 1.13% Legacy USD Bond Fund 1.03 1.03 0.44% 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 2,948.01 2,976.63 -1.23% Coral Income Fund 2,793.59 2,793.59 2.00% 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 12.90% Nigeria Entertainment Fund 107.32 107.76 0.36% 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 13.25%

Vantage Balanced Fund 2.15 2.17 -0.19% Vantage Guaranteed Income Fund 1.00 1.00 15.90% Kedari Investment Fund (KIF) 120.88 121.06 -3.24% 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 1.15 1.17 0.77% Lotus Halal Fixed Income Fund 1,083.65 1,083.65 1.33% 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 11.18 11.27 -2.81% Meristem Money Market Fund 10.00 10.00 12.35% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund N/A N/A N/A PACAM Fixed Income Fund N/A N/A N/A PACAM Money Market Fund N/A N/A N/A SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 119.64 120.24 -0.88% 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 1.01 1.01 1.27% 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 2,317.23 2,331.28 2.30% Stanbic IBTC Bond Fund 191.04 191.04 1.79% Stanbic IBTC Ethical Fund 0.93 0.94 -1.58% Stanbic IBTC Guaranteed Investment Fund 249.87 249.91 3.12% Stanbic IBTC Iman Fund 161.51 163.26 -1.01% Stanbic IBTC Money Market Fund 100.00 100.00 13.05% Stanbic IBTC Nigerian Equity Fund 8,329.02 8,429.72 -0.12% Stanbic IBTC Dollar Fund (USD) 1.11 1.11 3.30% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund N/A N/A N/A United Capital Bond Fund N/A N/A N/A United Capital Equity Fund N/A N/A N/A United Capital Money Market Fund N/A N/A N/A United Capital Eurobond Fund N/A N/A N/A United Capital Wealth for Women Fund N/A N/A N/A ZENITH ASSETS MANAGEMENT LTD info@zenith-funds.com Web: www.zenith-funds.com; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Equity Fund 11.01 11.16 3.94% Zenith Ethical Fund 12.32 12.44 2.64% Zenith Income Fund 20.84 20.84 8.23% Zenith Money Market Fund 1.00 1.00 11.59%

REITS NAV Per Share

Yield / T-Rtn

5.95 118.46 51.87

-39.35% 0.14% 0.03%

Bid Price

Offer Price

Yield / T-Rtn

10.43 111.77 86.52

10.53 114.18 88.13

-1.16% -4.70% -2.42%

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

3.95 7.00 14.34 12.61 147.08

3.99 7.08 14.44 12.81 149.08

-1.16% -8.07% -4.08% 1.99% 2.45%

NAV Per Share

Yield / T-Rtn

107.13

17.03%

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

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

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OIL SUBSIDY

AND BRIDGING COST ADMINISTRATION EVERYTHING RISES AND FALLS ON LEADERSHIP AND IT TAKES MORAL RECTITUDE TO BUILD A NATION.

Past Scenario Before Buhari, the NNPC was the house of rent-seekers who profited through an unchecked subsidy regime, where subsidy was even paid for products not landed or distributed. In that era, all the rent-seekers saw subsidy payments as free money.

Present Scenario

Under Buhari, not only has there been steady supply of petroleum products, with perennial fuel queues disappearing, there is now a stricter regime around importation and bridging cost administration. The following reality prevails today: 1

2

3

Premium is only paid on products that are landed and sold in the market - given differentials in landing costs and market price, rather than a blanket subsidy payment to individuals who over-declare their inventory.

Move for local production of finished petroleum products . To this end, the Buhari-Osinbajo Presidency is set to commence a turn-around maintenance of the three government refineries which was started 25 years ago but never completed, leading to an unchecked subsidy regime which sapped Nigeria of monies that could have been diverted to infrastructure and social spending.

While looking at possibilities of further liberalisation of the downstream oil sector, government is encouraging private sector participation in refineries and petrochemicals.

For instance, the Dangote refinery is set to come on stream in 2020 - all in a bid to ensure that we do not waste money importing what Nigeria can produce locally.

In the long run, the pursuit is to protect our foreign currency reserves and help boost earnings by turning Nigeria in to an exporter of finished products.

We need to sustain this pursuit.

Buhari has consistently kept faith with Nigeria. He is not about to join the bandwagon.

Vote for the team that is working for you!

CHANGE IS A PROCESS.

ote

Endorsed by

buhari OSINBAJO president / vice president

5 ) * 4 % ": t WEDNESDAY, FEBRUARY 6, 2019

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WEDNESDAY FEBRUARY 6, 2019 ˾ T H I S D AY

47

INTERNATIONAL

Egyptian Lawmakers Give al-Sisi Nod to Stay in Power Till 2034 An Egyptian parliamentary committee on Tuesday approved proposed constitutional amendments which would allow President Abdel-Fattah al-Sisi to stay in power until

2034 and boost his control of the judiciary.

The approval is the first step needed to move forward with the constitutional changes, which are expected to be finally endorsed

Brexit: Britain’s May to Meet EU Leaders Thursday European Union President, JeanClaude Juncker, will host British Prime Minister Theresa May for talks in Brussels on Thursday as the two sides seek to save their Brexit deal.

Plans for Britain to leave the European Union on March 29 under a withdrawal agreement signed last year were thrown into doubt when British lawmakers rejected the accord.

Brussels is now waiting for May to formally request renewed talks, while warning that the agreement itself can not at this stage be reopened for discussion.

“While the commission’s position is clear, we are waiting to see what the prime minister has to say,” Juncker’s spokesman

Margaritis Schinas told reporters at his daily briefing Tuesday.

“A series of votes have taken place in the British parliament, upon the basis of which the prime minister will come to explain what comes next.”

The House of Commons last month overwhelmingly rejected the Brexit deal that May had negotiated with the EU over almost two years.

In a subsequent vote, a majority of MPs urged her to renegotiate the most controversial part of the agreement, the “backstop” arrangement intended to keep open the border between British Northern Ireland and EU member Ireland.

by parliament and then move to a referendum within a few months.

The proposed amendments were submitted on Sunday to the speaker of parliament, who heads the committee that made the changes.

Any changes need approval by two-thirds of parliament members, followed by a referendum.

“This is a constitution made for a pharaoh,” said Mohamed Zaree of the Cairo Institute of Human Rights Studies. | “It gives al-Sisi a lot of authority with no accountability.”

Al-Sisi supporters say the changes are necessary for the stability of the country and to give the president more time to implement economic development plans.

The amendments include an extension of the presidential term to six years from four in article 140 of the constitution, and a transitional clause that would reset the clock, potentially allowing al-Sisi to stay in power until 2034, according to a draft.

The proposed changes also give al-Sisi new powers over appointing judges and the public prosecutor.

Critics say al-Sisi has led Egypt deeper into authoritarianism than former president Hosni Mubarak, who was toppled in 2011 after ruling for three decades under a state of emergency.

They also include amending article 200 of the constitution to add that the military’s duty is to protect “the constitution and democracy and the fundamental makeup of the country and its civil nature.”

Some critics fear these changes will give the military more influence on political life in Egypt.

Egypt’s military and intelligence services play an

influential role in both political and economic spheres.

The military have been taking a more public role since current president al-Sisi led the 2013 military overthrow of Egypt’s first freely-elected president, Mohamed Mursi of the Muslim Brotherhood.

This could allow the armed forces to support one politician at the cost of another, said Talaat Khalil, one of 16 leftist lawmakers, who held a news conference on Monday to denounce the proposed amendments.

“This is a big danger,” he said.

Trump to Focus on Immigration in State of the Union Address United States President Donald Trump is expected to spend time addressing immigration and his proposed expansion of the wall on the border with Mexico during his State of the Union speech on Tuesday.

It remains unclear if Trump will use the address to declare a national emergency at the border, an action he has hinted

at taking.

The president is increasingly frustrated with Congress, where his rivals, the Democratic Party, are blocking funding for the barrier he campaigned on in 2016.

The speech became a political football after Speaker of the House of Representatives Nancy Pelosi said the president could not deliver the address during the partial shutdown of the federal government, which

lasted for more than a month, the longest in history.

The shutdown was over funding for the wall.

There is a chance the government could again cease many functions on Feb. 15, when appropriations again run out.

The Democrats and Trump’s Republicans appear no closer to a compromise.

The president has taken to regularly slamming Pelosi and

in a series of recent interviews repeatedly said she is “very bad for our country.’’

A senior U.S. administration official said that Trump will “present a path forward’’ on the wall impasse during the televised speech to both houses of Congress.

Foreign affairs, including the crisis in Venezuelan as well as the trade wars, especially with China, are expected to be addressed.

48

WEDNESDAYFEBRUARY 6, 2019 ˾ T H I S D AY

NEWS

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

FG to Ban Importation of Tomato Products by 2021 James Emejo in Abuja The federal government has expressed its resolve to ban the importation of tomato products by 2021.

Minister of Agriculture and Rural Development, Chief Audu Ogbeh, who made the disclosure, said the continued importation of tomato paste had resulted in massive job losses to foreign countries, a situation which had further impoverished local farmers and denied them better life.

This is coming as the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has also buttressed the need to ban tomato importation, adding that the importation of milk into the country could also be banned in the near future.

The duo spoke in Kaduna during an inspection tour of Gino Tomatoes Farm, a subsidiary of GBFoods Africa.

Ogbeh insisted that the country would soon achieve self-sufficiency in tomatoes production, and even export and earn foreign exchange.

“In a short while, I assure you we will stop anybody importing tomato paste into this country.

“It is going to happen faster

than people think. So, let the smugglers beware; production not smuggling; production not importation - definitely not importation of what we can produce.”

He said: “Our children have to have jobs; our farmers have to have jobs. Farmers are entitled to happiness, good living and we have abandoned them in the bush for too long. Now that people are joining hands to give them life, we are most grateful.

“And we believe the future we have been dreaming of is here. And go tell Nigerians that tomatoes are being grown here on a scale which in a short while, will make us exporters not importers of tomato products.

“Our target is two years from now, no more import of tomato products, simple.”

Ogbeh, particularly commended the CBN governor for refusing to succumb to the mounting opposition in some quarters to abandon his desire and commitment to diversifying the economy through laudable interventions in the agricultural sector.

He said: “The CBN has been pushing the agriculture programme with direct support by funding through programmes

Finally, Ambode Proposes N852bn Budget for 2019 FiscalYear Gboyega Akinsanmi The Lagos State Governor, Mr. Akinwunmi Ambode, yesterday presented an appropriation bill of N852.316 billion to the House of Assembly, stressing that the proposal had been carefully prepared to be all-encompassing and dedicated to complete major ongoing projects in the state.

During the budget presentation, the governor put the capital expenditure at N462.757 billion, which represented 54 per cent of the total budget size and recurrent expenditure at N389.560 billion, which also accounted for 46 per cent He listed key projects that would benefit from the budget to include the Oshodi-Murtala Mohammed International Airport road, Oshodi Interchange Terminal, Pen-Cinema flyover and Oshodi-Abule-Egba BRT. Ambode said from inception of his administration, nine key areas were given priority after careful assessment of the needs of the citizens.

He added that such had informed the massive investment in the said sectors, which include security, traffic management, and the economy.

Giving details of what informed the budget size, Ambode said the performance of 2018 budget of N1.046 trillion as at November 2018 stood at 60 per cent owing to reduction in revenue projections, while the total revenue stood at N530.192 billion.

Ambode said, “In the outgoing year, however, we experienced a reduction in our revenue projections, which affected our projected performance and our desired implementation of the 2018 budget.

“The overall budget

performance as at November 2018 stood at 60 per cent or N574,206 billion with actual cumulative total revenue of N530,192 billion or 64 per cent, capital expenditure closed at N311,930billion or 49 per cent and recurrent expenditure performed at N262,276billion or 82 per cent.

“In preparing the 2019 budget, therefore, we were very mindful of the out-going year performance, the yearnings of our people and the fact that we are going into an election year.

“Consequently, we are today presenting a budget that will be all-encompassing, reflect the level of resources that will be available and with special consideration to the completion of major on-going projects in the State.”

He outlined the key components of the 2019 budget and the sectoral allocations, saying with priority given to the completion of major infrastructure projects and smooth transition to the next administration, the government was proposing a total budget size of ‘N852,316,936,483,’ including a deficit financing of N77.086billion which is expected to be sourced from internal loans and other sources.

He added that the projected total revenue for 2019 “is N775.231 billion, of which N606.291 billion is expected to be generated internally, 168.940 billion is expected from federal transfers while a total of N77.086 billion will be sourced through deficit financing within our medium term expenditure framework.

“In 2019, as was with our previous budgets, Economic Affairs still dominates the sectoral allocation of the proposed budget.

This is due to our continued focus on the completion of major ongoing projects.”

in the Ministry of Agriculture.

“People have called him (Emefiele) names and criticised him. But if he had not devised the means of bypassing the mountains of obstacles confronting production

in this country, by today, the story of Nigeria would have been a horrible one.”

On his part, the CBN boss, however, called on other investors to tow the path of

Dangote and Gino farms to invest massively in tomatoes production in order to export and attract foreign exchange into the cou n t r y.

He commended

President Muhammadu Buhari for insisting that “it is time we produce what we eat and eat what we p ro d u ce”.

TAKE HEART...

L-R: Widow of the late Chief OB Lulu-Briggs, Mrs. Seinye Lulu-Briggs; former President Goodluck Jonathan; and his wife, Patience, during a condolence visit to the family of Lulu-Briggs, in Port Harcourt, Rivers State...recently

Strike: ASUU Conducts Referendum Nationwide Kemi Olaitan in Ibadan The zonal coordinators of the Academic Staff Union of Universities (ASUU) yesterday conducted a referendum nationwide to decide on whether to suspend the ongoing threemonth old strike or not.

The national leadership of the union had last Monday directed its zonal coordinators to meet with their branch chairpersons to conduct the referendum on

the offers of government and feed it back.

THISDAY gathered that over 200 members of the University of Ibadan chapter who attended the congress yesterday voted for the continuation of the strike while a little above 50 members voted for the suspension of the strike with conditions.

While speaking with journalists, the Chairman of the University of Ibadan Chapter, Dr. Deji Omole, said the congress

only conducted referendum on the offers of government, stating that the congress is the principal which guides the leadership of the union on their struggle.

On the new offers, Omole stated that government promised to mainstream the earned academic allowances into salaries from 2019.

He also hinted that government said as a sign of good faith, it will release N25 billion for the revitalisation of

universities while the rest will be defrayed after identifying sources of funding.

Omole who stated that government agreed to pay additional N5 billion to make the earned academic allowances N25 billion out of the owed N105 billion, said ASUU wanted government to pay N30 billion.

According to him, the federal government has agreed that the renegotiation should commence and end within six weeks.

Court Sacks Eze, Declares Ogara as Enugu APC Governorship Candidate Alex Enumah in Abuja Justice Inyang Ekwo of the Abuja division of the Federal High Court yesterday declared George Ogara as the authentic governorship candidate of the All Progressives Congress (APC) in Enugu State.

Ogara had instituted a legal action at the court challenging the emergence of Senator Ayogu Eze as the APC governorship candidate for the 2019 general

election.

Other defendants in the suit are the National Chairman of the APC, Adams Oshiomhole; Prof Moses Momoh and the Independent National Electoral Commission (INEC).

Delivering judgment in the suit, Justice Ekwo ordered the APC to forward the name of Ogara to INEC as the governorship candidate of the APC in Enugu State, having scored the highest votes in the 270 wards of the 17

local government areas of the state.

Justice Ekwo in the judgement asked the electoral body to recognise Ogara as the candidate of the APC for the purpose of 2019 governorship election in the state.

The judge held that the direct primary election of the party that produced Ogara as the party’s governorship candidate was in compliance with the party’s guidelines as well as the Electoral Act. The judge also restrained

INEC from accepting any other name except that of Ogara for the purpose of the 2019 governorship election in the state, having scored the highest votes in the primary elections.

The court declared that the plaintiff, having scored the highest number of votes cast by members of the APC in Enugu State for the governorship direct primary election conducted on October 4, 2014, in the 260 wards, is the nominated candidate of the APC.

EFCC to Go after Looters’ Investments in Ghana, Other Countries Onyebuchi Ezigbo in Abuja The Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Magu, has said the anti-graft agency is beaming its searchlight beyond the borders of Nigeria in a bid to track down corrupt politicians who may have diverted looted public funds to neighbouring countries.

He further said the agency has unearthed the collusion of bank officials and those of nondesignated financial institutions, with corrupt politicians in the country, which have brought about an increase in the instances

of illicit financial flows into and out of Nigeria.

He said the commission has discovered that corrupt politicians are widening the circles of their corrupt activities by investing looted funds in other African countries, so that in the longrun, they can repatriate them to Nigeria.

Magu said the commission’s team recently visited Ghana where they made a staggering and mind-boggling findings about the level of investments being made from illicit funds from Nigeria.

In an address delivered by the EFCC chairman at the 127

delegates’ conference of the Nigeria Labour Congress (NLC) in Abuja, Magu said the EFCC has signed a Memorandum of Understanding (MoU) with the Economic and Organised Crime Office, in Ghana; the Ghana Financial Intelligence Centre; and the Ghana Police to ensure that it keeps track of such illicit inflow and outflow of suspicious funds.

Magu, whose speech was read by Dr. Aminu Gusau, said a similar MoU signed with the United Arab Emirates (UAE) was already yielding fruits as the agency has been able to trace several assets that were illegally kept there.

“What we discovered is no doubt staggering and mindboggling. Corrupt politicians have widened the circles of their corrupt activities by investing them in other African countries, so that in the long run, they sell them and deploy ways of repatriating them to Nigeria, even in the build-up to the election.

“But, we are also stepping up our game to combat and hip in the bud, new tactics being deployed to fraudulently divert and misappropriate funds meant for the welfare and good of all Nigerians,” he said.

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Impunity Has Taken over Nigeria, Soyinka Cries out Segun James Nobel Laureate, Professor Wole Soyinka, yesterday expressed concern on how impunity has taken over the country.

In a statement entitled: ‘Trivialise Corruption, Neutralise Justice,’ he took a swipe at some members of the judiciary and blamed politicians for the rate of impunity.

“The reign of impunity will prevail as long as the legal community continues to betray its calling, its oath of office, even its rites of professional collegiality and its responsibility to the rest of us,” Soyinka said.

He added, “It is disappointing that even under a government that promised to dust up the files of political murders and end that reign of homicidal impunity, the Association has not thought fit to demand from the Buhari government its findings.”

According to the Nobel Laureate, impunity covers all crimes including material corruption and any social or governance institution which fails to stem the tide of criminality flings open the channels of impunity.

He accused President Muhammadu Buhari of applying what he described as “hands-off approach” to the menace of killings by herdsmen in parts of the country.

Soyinka further criticised some members of the judiciary for their roles in recent events in the country, particularly the

trial of Justice Walter Onnoghen.

He also cautioned Nigerians to be on red alert as such happenings have become synonymous with election periods in the country.

The Nobel Laureate, however, lauded a group of lawyers he referred to as the reformist council who have taken it upon themselves to clear the alleged rot in the judiciary.

“It is heartening news that some 20 concerned lawyers have come together to undertake the mission of cleaning up the Aegean stables that seem to pass today for the Nigerian judiciary.

Some of us do need an institution to which we can look up, of which we should even live in awe. Some find that in religious institutions, others in traditional fixtures, some even in family and so on. All agree that the order of justice is a pre-eminent candidate for collective regard and even self-regulation. No matter, we all know that, without justice, society unravels at the seams, and its citizens resort to self-help,” he explained.

“I feel especially exercised by recent happenings within that body currently from a dominant perspective: it has become increasingly fashionable to sneer at any anti-corruption preoccupation. No, no one actually ever goes so far as to condone corruption. Perish the thought!

Gradually, however, the nation’s psyche is being both subtly and brazenly returned to accept not simply corruption as the norm

of social relationships, but its heightened product, impunity, as a national emblem. The justification? The machinery that was launched against corruption with such fanfare, it is claimed, has run aground”.

Soyinka alleged that the current anti-corruption war is characterised by selectivity, insincerity, non-seriousness and cynical distraction.

“Selectivity has been cited as proof. Insincerity, nonseriousness, cynical distraction, are routine assessments of the current governmental campaign,” he said.

“Not surprising then, that it was only a matter of time before the flagbearer of one of the ‘parties to beat’ came out openly to dismiss the punitive option, delivering the promise of amnesty

as one of the corner-stones of his plans for the nation. It was a well-calculated gambit. That candidate, an astute politician with his nose to the ground, found that ground primed, ready and conducive. Soon, this will be topped by some rivalling knight in shining armour from rivalling parties who promise prosecution and prison sentence for anyone who bad-mouths corruption – of

course, always with a caveat – until all the ills that infest society have been completely eradicated – guinea-worm, river blindness, soil erosion, oil pollution, rape, and kidnapping incest, not forgetting the transformation of the entire national infrastructure and the full elimination of the last vestiges of Boko Haram, killer herdsmen, Lassa bearing rodents and potholes on the road”.

GRAND RALLY…

L-R: National Leader, All Progressives Congress (APC), Bola Tinubu; Vice President Yemi Osinbajo; President Muhammadu Buhari; and Governor Oluwarotimi Akeredolu, at the APC presidential campaign rally in Akure, Ondo State…yesterday

NNPC Posts N2.06bn Trading Buhari: We Only Seek Second Term, Not Third, Like Some People Obas.

Speaking with Ondo State learn from their mistakes.”

Hamid Adedeji Surplus in November 2018 “We have just finished one His statement was revealed by Council of Obas in Akure, he PeterUzoho The Nigerian National Petroleum Corporation (NNPC ) has stated that it recorded a trading surplus of N2.06 billion in November 2018, which represents an improvement of 116 per cent over the N12.66 billion deficit recorded previous month.

The month-on-month performance increase was primarily attributable to improved efficiency of the Nigerian Petroleum Development Company’s (NPDC) operations.

The Group General Manager, Group Public Affairs Division of NNPC, Mr. Ndu Ughamadu, disclosed this in a statement yesterday, saying the details were contained in the NNPC Monthly Financial and Operations Report for the month of November 2018 published in Abuja.

Ughamadu stated that a total of 735 million standard cubic feet of gas per day (mmscfd) was delivered to gas fired-power plants in November 2018 compared to October 2018 where an average of 627mmscfd was supplied.

According to him, out of the 212.93 billion cubic feet (bcf) of gas supplied during the period, a total of 123.29bcf of gas was commercialised, consisting of 36.14bcf and 87.15bcf for the domestic and export market respectively.

He said this translated to a total supply of 1,204.76 mmscfd of gas to the domestic market and 2,905.06 mmscfd of gas supplied to the export market for the month, implying that 57.91 per cent of the average daily gas produced was commercialised while the balance of 42.09 per cent was re-injected, used as upstream fuel gas or flared.

However, the report’s breakdown revealed that total gas supply from

November 2017 to November 2018 stood at 3,071.13bcf out of which 466.44bcf and 1,317.77 bcf were commercialised for the domestic and export market respectively.

The report indicated that gasinjected, fuel gas and gas flared-stood at 1,286.92 bcf.

According to the report, the corporation also posted a total crude oil and gas sale of $668.57 in November 2018 which is 26.13 percent higher than the previous month.

Crude oil export sales contributed $574.95 million (86.00 percent) of the dollar transactions compared with $425.00 million contribution in the previous month.

Export gas sales amounted to $93.62 million in the month.

The November 2017 to November 2018 crude oil and gas transactions indicated that crude oil and gas worth $5.97 billion was exported.

In the downstream sector, the NNPC has continued to assiduously monitor the daily stock of petrol to achieve smooth distribution of petroleum products and zero fuel queue across the country.

Therefore, a total of 1.62bn litres of petrol translating to 54.0 million litres per day were supplied for the month.

In November 2018, a total of 197 pipeline points were vandalised, out of which six pipeline points failed to be welded and two pipeline points were ruptured.

The situation improved from the 219 vandalised points recorded in October 2018, with Mosimi-Ibadan, Ibadan-Ilorin and Aba-Enugu accounting for 58, 35 and 34 points respectively or approximately 29 percent, 18 per cent and 17 per cent of the vandalised points respectively.

In an apparent reference to former president Olusegun Obasanjo, President Muhammadu Buhari, yesterday said that he was only seeking a second term in office and not a third term as did “some people.”

said, “We have just finished one term and are seeking a second one. After that, the constitution doesn’t permit any more.”

He added, “There are some who tried looking for more but they did not succeed. We should

Tolu Ogunlesi, who is in charge of digital communications in the presidency.

He made Buhari’s statement known on his verified Twitter handle. “PMB in Akure now, addressing the State Council of

term and are seeking a second one, and after that the constitution doesn’t permit any more.

There are some who tried looking for more but they did not succeed. We should learn from their mistakes.”

Atiku’s Endorsement Divides PANDEF Emmanuel Addeh in Yenagoa There was a crack in the Pan Niger Delta Forum (PANDEF) yesterday after the youth wing of the body disagreed with the parent body over the endorsement of the presidential candidate of the Peoples Democratic Party (PDP), Alhaji Atiku Abubakar.

While distancing themselves from the action of the elders, the youths said there was neither a meeting nor a forum where the issue of supporting any candidate

was discussed.

The National Publicity Secretary of PANDEF, Chief Sara-Igbe Anabs, said the action was futile since the constitution of the pan Niger Delta body barred the organisation from partisan politics.

“As far as I am concerned, we have not met as a body and besides, the constitution of PANDEF bans the forum from being partisan,” he said in a statement.

Also, a statement signed by the National Youth Coordinator of PANDEF, Famous Daunemigha;

leaders from Edo and Delta States, Don Ben and Abule Ateh, described PANDEF as apolitical.

According to them, “PANDEF is a well-organised body, made up of a very well-enlightened people cut across all the Niger Delta states.

“PANDEF has a constitution and we are apolitical. PANDEF never had any meeting or congress where we agreed to endorse any political party.”

He added: “It’s very clear that we cannot use PANDEF to endorse anybody. The constitution says

that we should be apolitical. We all have rights to support whatever political party we want but we are not allowed to endorse any person or a candidate.

“PANDEF has not met; we never had a congress at any time to decide such endorsement.”

He called on well-meaning and law-abiding youths Niger Delta to disregard the purported endorsement, stating that such an act was capable of eroding the credibility of the group.

Sokoto Information Commissioner Defects to APC Onuminya Innocent in Sokoto Barely one week to the forthcoming election, the Peoples Democratic Party ( PDP ) in Sokoto State yesterday lost the state Commissioner for Information and Chairman of the Publicity Committee, Gubernatorial Campaign Council, Mr. Bello Muhammad Goronyo, to the All progressive Congress (APC).

This is contained in a statement signed by the Special Assistant on Media and Publicity to the Chairman, Northern Senators Forum, Senator Aliyu

Magatakarda Wamakko, in Sokoto.

The statement stated that the erstwhile spokesman of the Sokoto State Government made a triumphant entry into the fold of the APC at the flag-off of its campaigns in the hometown of its leader in the state, Wamakko town, headquarters of Wamakko Local Government Area in the state.

Mr. Bello Muhammad Goronyo said at the event , “I am back into the fold of the APC. Senator Wamakko is my able and dependable father. He is a just, honest and a transparent leader.

“This day is very historic for myself; my family and all my political associates. I have admitted making mistakes, but I should be forgiven .

“I hereby promise to work assiduously to ensure the success of the candidates of the party, at all levels during the forthcoming general polls .”

The former Information Commissioner further averred that President Muhammadu Buhari has made giant strides, to move Nigeria forward , just like Senator Wamakko did between 2007 and 2015, when he was the Governor of Sokoto State.

The leader of the APC in the

state , as well as the Coordinator, North Western Presidential Campaign Council, Senator Wamakko, who represents Sokoto North Senatorial District, welcomed back Goronyo .

Senator Wamakko described Goronyo as a true and loyal son, adding that, and “I am sincerely elated with this happy development”.

The APC gubernatorial candidate in the state, Alhaji Ahmed Aliyu Sokoto, also lauded the former Information Commissioner for the action, saying,” he defected to the party with no strings attached.”

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Deploy Military to Troubled Areas, Not ‘Enemy’ Zones, Secondus Charges Buhari Adedayo Akinwale in Abuja The National Chairman of the Peoples Democratic Party (PDP), Prince Uche Secondus, has admonished President Muhammadu Buhari to stop using the military to harass and inconvenience geo-political areas he perceives as unfriendly.

Secondus said instead, troops

should be deployed in troubled areas of the country like the Northeast and North-west zones rather than to harass political opponents.

The PDP national chairman’s remarks came as he addressed mammoth crowd of party supporters at the Trade Fair complex in Jalingo, Taraba State capital, and Bauchi State

272 More Universities Underway NUC gives provisional licences to four Kuni Tyessi in Abuja The National Universities Commission (NUC) has given provisional licences to four private universities, thereby increasing the number of private universities to 79, while state and federal universities are 48 and 46, respectively, bringing the total to 173.

Also, to tackle the issue of access and carrying capacity as well as expand and attend to the increasing manpower need of the Nigerian economy, 272 applications for more universities are currently being processed by the Commission.

The NUC Executive Secretary, Prof. Abubakar Rasheed who made the disclosures yesterday during the presentation of provisional licences of operation to the new universities in Abuja, said the new institutions are Greenfield University, Kasalami, Kaduna State; Dominion University, Ibadan, Oyo State; Trinity University, Laloko, Ogun State and Westland University, Iwo, Osun State.

Rasheed said it took so long for some of the universities to come to the present stage due to stringent

measures that have been put in place to guarantee quality, adding that private universities do not have to be necessarily big once the vision can fly and contribute to national development.

He said: “ I believe we are going to have more universities because we currently processing about 272 applications. Many of them are active and if you notice, we are somehow reinventing the concept of universities.

“Private university doesn’t have to be another big university like ABU, Ibadan or Nsukka. You can have a small university that its maximum might will not have more than 2,000 students. It might just enrol 500 in a year and in four years have 2,000. All we are interested in is quality.

“If universities can focus on excellence and building capacity in small areas, we will be happy.

With the new universities coming in, it doesn’t mean we are duplicating everything. Another thing is that we are reviewing. All the universities used to start with the Faculties of Arts and Social Sciences but we said no, let us look at the manpower needed in this country and the interest of the proprietors.

stadium respectively yesterday as the presidential train arrived in the two states.

According to a statement from the media office of the national chairman, Secondus said the party has noted the incessant movements in military and the deployment of troops to areas where they are not needed.

“We have noted the quick response and frequent movements of the military personnel but we want to advise them to defend the constitution and the country and not individuals.

“The Boko haram threat in the Northeast and the banditry in the Northwest where innocent souls are lost daily are yearning for troops not areas that do not

need them,” the statement said.

The PDP leader also blasted the Minister of Information, Alhaji Lai Mohammed, for making unsubstantiated allegations, charging him to provide evidence to his lies or forever remain mute.

“We challenge the Minister of Information to provide evidence to his numerous lies or keep quiet,” he said, adding that the minister should take a cue from PDP who alleged that the APC was importing foreigners to rig election and we all have the evidence.

Secondus also has some words for the Independent National Electoral Commission (INEC) for reacting promptly to the party’s allegation, saying

the party is not convinced that INEC can resist the pressure of the All Progressives Congress (APC) to want to manipulate the election.

But he warned that a rigged election would lead to crisis and the PDP will not accept any result if the process is not credible.

The national chairman told the people of the two states that the presidential candidate of the party, Atiku Abubakar, represents competence and remains the symbol of unity to bring back peace and harmony among Nigerians.

Meanwhile, the presidential candidate of the party, Atiku, has continued his ‘issue-driven’ message, assuring the people of

the two states that his presidency, if given the mandate, will alleviate poverty and provide jobs.

In Jalingo, the PDP chairman paid glowing tribute to one of the elder-statesmen in the country from the state, former Minister of Defence, General Theophilus Danjuma (rtd), describing him as a patriot who has made enormous contributions for the peace and growth of this country.

Top leaders of the two states, including the Speaker of the House of Representatives, Hon. Yakubu Dogara, as well as the Governors of Gombe and Taraba States, Ibrahim Dankwambo and Darius Ishaku, respectively also addressed the rally.

DEEPENING KNOWLEDGE…

L R: Prof. Oladeji Ojo; Author of the Book, Mrs. Kike Ojo; Chief Launcher, and former Deputy Govenor of Ekiti State, Prof. Modupe Adelabu; and Chairman of Occasion, Prof. Ropo Sekoni , during the launching of ‘Freagrance of Roses’ by Mrs. Ojo, held at Jogor Centre, Ibadan . ..yesterday FELIX ADEMOLA

ICPC to Arraign Ex-Customs Chief, Dikko,Two Others Ganduje Orders Shutdown of Stadia Ahead of Atiku’s Rally The Independent Corrupt Practices and Other Related Offences Commission (ICPC) will on Thursday next week arraign a former Comptroller-General of the Nigeria Customs Service (NCS), Abdullahi Dikko, and two others for allegedly stealing more than N1 billion.

To that effect, suit number FHC/ABJ/CR/21/2019-FRN v Abdullahi Inde Dikko & Ors, is billed to come up before Justice Lucia Ojukwu of Court 7, Abuja Federal High Court.

A former Assistant ComptrollerGeneral of the agency in charge of Finance, Administration and Technical Services, Garba Makarfi, and Umar Hussaini, a lawyer and owner of Capital Law Office, are also listed as defendants in the suit.

According to the charge sheet, they are accused of inducing the Managing Director of Cambial Limited, Yemi Obadeyi, to pay N1.1 billion (N1,100, 952,380.96) into the account of Capital Law Office as a refundable “completion security deposit” for the purchase of 120 units of duplexes as residential accommodation for officers of the Nigeria Customs Service.

The ICPC accuses Dikko

and Makarfi of using the bank account of Hussaini’s firm to illegally receive the money. The anti-graft agency further alleged that Hussaini within the same period between April 6 and December 2010 shared the money into various accounts.

Makarfi was accused of receiving $3 million between April and December 2010, apparently as part of the proceeds of corruption.

ICPC’s legal officer, Ephraim Otti, in his affidavit sworn to on January 25, 2019 at the Federal High Court in Abuja, said the defendants were investigated for alleged violation of the Corrupt Practices and Other Related Offences Act, 2000; Advance Fee Fraud and Other Fraud Related Offences Act 2006, and Money Laundering (Prohibition) Act, 2011 (as amended).

According to Otti, evidence from the investigation established a prima facie case against the accused.

Dikko, who was the Comptroller General of the Nigeria Customs Service between August 2009 and August 2015, has faced several allegations of fraudulently enriching himself and certificate forgery.

Ibrahim Shuaibu in Kano The Governor of Kano State, Abdullahi Ganduje, yesterday ordered the immediate closure of the two major stadia in the state, few days to the campaign rally of the presidential candidate of the Peoples Democratic Party (PDP) in the state.

The PDP presidential campaign rally is expected to hold on February 10, at Sani Abacha Stadium in Kano, a venue which President Muhammadu Buhari performed his re-election rally last week.

The state government ordered

the Kano State Sports Commission under Mr. Ibrahim Galadima to immediately close the facilities for renovation.

The proposed renovation work was billed to commence on February 4 and end on February 18.

The proposed general renovation works include the installation of the new score board, the running track and provision of sources for steady water supply to all parts of the stadium facility.

Sources in the state also alleged that the shutdown of the two stadiums, Sani Abacha Stadium

situated at Kofar Mata and Kano Pillars Stadium at Sabon Gari was intended to frustrate the forthcoming campaign rally of the PDP candidate in the state.

The spokesman of the sports commission, Abbati Sabo, confirmed the closure of the stadia, saying the directive was not intended to scuttle the campaign rally of the PDP presidential candidate.

He added that the renovation work was directed to have conducted ahead of the 2019-2020 Nigeria Premier League (NPL) season.

Bako also explained that the

government was advised to order for the renovation as the season had already commenced.

“As far as I am concerned, this directive doesn’t have a political undertone. The state government was advised to order for the renovation of the stadium ahead of the NPL season.

“The government had now heeded to the advice and ordered for the project in order to have smooth conduct of the league.

As you can see, the facility is in need of repair and the government has now answered the call for its renovation,” he said.

Jonathan, Others Commiserate with Family of Lulu-Briggs Jonathan Eze Former President Goodluck Jonathan and his wife, Patience Jonathan, were in Port Harcourt last Wednesday to offer their condolences to the family of High Chief OB Lulu-Briggs, who passed away on December 27, 2018 in Accra, Ghana,.

Jonathan and his wife, who were accompanied by Professor Seiyefa Brisibe, Niger Delta University, College of Medicine,

and Hon. Tobias James, former Commissioner for Education, Bayelsa State, spent time with Mrs. Seinye Lulu-Briggs, Mrs Solate Ovundah-Akarolo (daughter) and other family members.

Jonathan spoke glowingly about High Chief Lulu-Briggs, recalling the pioneering role he played in national politics and how he championed Niger Delta and minority issues in the Second Republic days when he was deputy national chairman of

National Party of Nigeria (NPN).

He said: ‘High Chief was a courageous man who loved his people. He worked very hard.

We know even in business, he was a successful man. He was equally successful in politics.

We are here to tell you that your husband, your father, our father was a good person, a good leader. We all miss him.

We pray that God Almighty will accept him in his bosom.

He has done his best on earth.

He has helped so many people.

He has encouraged so many people. He has contributed positively to the development of this state, Old Rivers State and to the development of the country in general. May his soul rest in peace,” Jonathan said.

The former president revealed how the late Lulu-Briggs was one of the earliest supporters of the Umaru Yar’Adua/Goodluck Jonathan presidential bid in 2007.

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Demand Compensation for Victims of Protests, Falana Tells NLC Segun James Human rights activist, Mr. Femi Falana (SAN), has advised the Nigeria Labour Congress (NLC) to seek compensation from the federal government for the families of people who died in the various protests in the country.

Falana gave the advice in Abuja yesterday at the 12th National Delegates Conference of the congress.

The theme of the conference is: ‘Towards a Decade of Activism for the Promotion of Labour Unity, National Rebirth and Development.’

He said NLC should demand adequate compensation for the families of all workers and Nigerians who lost their lives in rallies held all over the country.

“I congratulate the NLC for the success recorded so far in the struggle to have a minimum wage.

“What the constitution provides for in Section 16 is the National Minimum Living Wage but what has been conceded is not a living wage but it is better than nothing.

“The first aspect of the struggle has been won and the National Assembly will soon pass the bill.

“But to get payment, you need to get organised and compel those

governors who claim that they will not be able to pay, to pay the new minimum wage,” he said.

Falana called on NLC leaders to put pressure on state governors who claimed that they could not pay N30,000 minimum wage so that they could do so.

He also called on the governors to imitate the success of the Kebbi Sate Governor Atiku Bagudu in agriculture by initiating policies that would increase their financial strength.

“I will like to advise those governors to borrow a leaf from the governor of Kebbi State.

He has turned adversity to prosperity.

“In 2017, it was reported that Kebbi State earned N160 billion from the sale of rice alone. ‘‘Let other governors be challenged and embark on money generation instead of cornering the state money.

“To NLC and all Nigerian workers, let the 2019 election be the last time that elections in Nigeria and the struggle for power will be left exclusively in the hands of different factions of the ruling class.

“After this election, the Labour Party must be reorganised so that we can take our destiny in

our own hands,” he said.

He urged NLC to rebrand the Labour Party to become a strong political platform for all politicians.

In his reaction, the Governor of Kebbi, Alhaji Atiku Bagudu, said the state government’s success was linked to the federal government’s commitment to agriculture and fairness in agricultural trade.

“Falana talked about investment in agriculture but it is also linked to our ability to give fair terms of trade. ‘‘The success in agriculture would not have been possible without a president that is committed and that is nationalistic.

“In the next level we will be able to do more in agriculture so that NLC can grow from six million to 60 million and have more resources,” he said.

Bagudu, who was part of the Tripartite Committee that recommended N30, 000 new minimum wage, said that in spite of the Committee’s commitment and recommendation, it was also important for stakeholders to sympathise with some governors.

He claimed thatitwouldbedifficult for them to pay N30, 000 as the new minimum wage.

ECOWAS, AfDB Sign $22.7m Agreement on Abidjan-Lagos Highway Project Alex Enumah in Abuja The Economic Community of West African States (ECOWAS) on Monday signed a grant Retrocession Agreement with the African Development Bank (AfDB) on the Lagos-Abidjan Highway Development Programme.

The project put at a cost of $22.7 million with a two-year life span is meant to provide feasibility, environmental Impact assessment and detailed engineering design studies for the Abidjan-Lagos

Corridor Highway Development Project.

The signing of the agreement at the headquarters of the ECOWAS Commission in Abuja was to activate the grant contribution from the European Union (EU) for the project, which was described by the ECOWAS President, JeanClaude Brou, as a huge milestone in the pursuit of development in the region.

He said: “As you may be aware, the signing of the Grant Retrocession Agreement is in

line with the requirement for disbursement of Grant funds from the European Union from its African Investment Facility (AfIF) for the Abudjan-Lagos Corridor Highway Development Project.

“The EU contribution of €9.13 million was mobilised through the African Development Bank who also contributed approximately $11.06 million (Grants and Loans) from the African Development Fund making it a total of $22.72 million for the project,” he said.

‘APC’s Desire to Continue Undesirable’ The Executive Director of Development Specs, Dr. Okey Ikechukwu, has described the aspiration of the All Progressives Congress (APC)-led federal government to return and continue for another four years as undesirable.

To this end, he said there was need for the main opposition party to work together as one house in order to unseat this government, or the country is finished, adding that internal wrangling of the party should not be allowed to cost Nigerians the chance to remove a government that is putting fertilizer on the tree of death.

Ikechukwu stated this while speaking at a forum organised to evaluate the short and long term implications of a PDP victory in the coming presidential elections, said the PDP now has a opportunity to roll out a robust campaign and confidently take on whoever stands in its way.

He equally described the visit

of the presidential candidate of the PDP, Alhaji Atiku Abubakar, to the United States as a major positive development that the party should use to rev up its campaign efforts.

Ikechukwu said: “It is true that the incumbent government, and nearly a hundred other political parties are contesting, but I usually focus on political engagements that are desirable and feasible. The aspiration of the APC government to return and continue for another four years is undesirable to me.

“In my informed view, it is only the PDP that has the capacity, spread and wherewithal to bury this dangerous aspiration and make it unfeasible.

“As for several brilliant candidates contesting on the platform of some other political parties, my take is that real capacity must be demonstrated outside Facebook, twitter, social media and public lectures. They have desirable aspirations that are, at the same time, unrealistic

and unfeasible. Elections need foot soldiers, well-coordinated networks and effective control of polling booths in every Ward,” he noted.

Ikechukwu called on the PDP to maximise the media and perception mileage to be made from the image breakthrough offered by the US trip.

According to him, “The point to note here is that the question of whether Atiku can walk around freely in international circles is now answered in the affirmative. The APC had always murmured in the background, creating subtle mental discomfort for many people, that all may actually not be well with Atiku’s international standing. This US trip has taken away the presumed impossibility of his going to the US and the impression that the PDP is fielding a candidate that may not enjoy international credibility and respect. The incubus is off, so the party should simply go to town.”

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Borno IDPs Protest Inhuman Treatment Michael Olugbode in Maiduguri There was drama in Maiduguri, Borno State capital, yesterday, as hundreds of internally displaced persons (IDPs) took to the street to protest what they described as inhuman treatment by camp officials.

The IDPs mostly recently dislodged by Boko Haram from Baga and accommodated at the Teachers Camp in the heart of Maiduguri, lamented the ill-treatment, which have left

many of them without basic needs and sleeping in the open.

They went about destroying political billboards and tearing off posters.

During the protest which lasted for about two hours, the protesters disturbed traffic flow and sang anti- All Progressives Congress (APC) songs.

It took the intervention of the police who shot canisters of teargas to disperse them from the road and allow traffic flow.

Responding to the reported allegation that the protest was

as a result of starvation at the camp, the National Emergency Management Agency (NEMA) in a statement said IDPs had enough food and could not have protested starvation.

The statement by the Head of Media and Public Relations at NEMA, Sani Datti, said: “The attention of the management of the National Emergency Management Agency (NEMA) has been drawn to a media report of a protest by Internally Displaced Persons (IDPs) in

Maiduguri, Borno State, which was erroneously attributed to hunger in Teacher’s Village camp.”

He said: “For record and purpose of clarity, though there was protest by some IDPs living in Teachers Village Camp, Maiduguri, it was never caused by hunger or lack of food supplies.

“The protest was actually caused by interruption of profiling exercise of the IDPs

by International Committee

of the Red Cross (ICRC) who arrived the camp to extend their humanitarian support to complement the effort of partners. Consequently, some people outside made attempt to be enumerated and this prompted some IDPs in camp to chase them away and resulted in commotion and riot.”

He added that: “However, the situation has been immediately brought under control by the security operatives stationed at the

camp and normalcy restored.

“It is on record that the National Emergency Management Agency has continued to provide food items monthly to the camps, IDPs in host community and liberated areas in Borno and Adamawa States. The last distribution at the Teachers Village camp was on 15th January, 2019 for all the household and was meant to last for a month.”

Aisha Buhari Urges South-southYouths to Shun ElectionViolence Kasim Sumaina in Abuja Ahead of the forthcoming general election, the wife to the President, Aisha Buhari, yesterday, in Port Harcourt, Rivers State, called on the South-south youths to shun every temptation of being used to perpetrate election violence and ensure that their votes are counted at the polling units.

She made the appeal at the South-south women and youth presidential campaign event organised by the foundation for female empowerment in collaboration with the Coalition of Female Founders and Leaders of NGOs, CBOs, CSOs and FBOs in the Niger Delta region.

The First Lady, represented by the wife of the Vice President, Mrs. Dolapo Osinbajo, noted that the present administration, led by President Muhammadu Buhari is interested in the women and youth, adding that this was why the government engaged more in the home-grown school feeding programme, among others.

“The present administration is also helping in small loans for business owners as they are putting together policies to ensure the ease of doing business in the country.”

“That is why the APC

government is working day and night for the development of Nigeria. I want you to talk to five to 10 people to vote for APC,” she said.

She however, urged the youths to cast their votes for the All Progressives Congress (APC) as the party is ready to carry them along.

“Ensure you come out on election day; do not sleep at home as your vote matters,” she said.

Speaking earlier, the wife of Transportation Minister, Judith Amaechi, stated that President Buhari had done a lot in the South-South region.

Amaechi stated that the president’s achievements were too numerous to mention, adding that “in the past, these are some of the things that we begged for.”

“I see a government that has structure and focus in place to deliver his people and wants to make a difference. We know Buhari can give us the security we want in the South-south “We are here to see how women can be placed in positions and how youth can have a say in the society,” Amaechi said.

She, however, lauded the First Lady on the issue of women and youth development, stating that she has done something noble

N2.1bn Itsekiri Devt Funds: Lawyer Files Appeal in Supreme Court Sunday Okobi A legal practitioner, Mr. Peter lyhiokhai, has filed an appeal in the Supreme Court against the ruling of the Court of Appeal in Benin-city which vacated an order of a High Court in Warri restraining Itsekiri Regional Development Council (IRDC) from assessing N2.1 billion community funds domiciled in Keystone Bank.

The appeal which also seeks to restrain Chevron from having any financial dealing with IRDC, came on the heels of a motion for a stay of execution order filed in Court of Appeal in Benin-city by the legal practitioner.

Iyhiokhai, who disclosed these to journalists yesterday, said the failure to judiciously manage funds meant for the development of Itsekiri communities informed the filing of the suit.

According to him, “The suit

was instituted against IRDC, Chevron and Keystone Bank in September 2017 by activists and veteran journalist, Chief Rita Lori-Ogbebor, at the Warri High Court. The court restrained IRDC led by Austin Oniyesan from collecting N2.1 billion belonging to Itsekiri oil producing communities in Delta State. The court further restrained Chevron from paying any sum of money to IRDC. “After the court orders, we discovered that the IRDC led by Oniyesan and Omare went ahead and signed another agreement.

“It is a breach of court order that led to the institution of committal proceedings against Chevron, Oniyesan and Omare.

“The contemnors swiftly filed appeal to the Court of Appeal to stay the order of the High Court. We have successfully appealed to the Supreme Court against the ruling of the Court of Appeal.”

CELEBRATING LIFE...

L-R: Partner Telios Architectural Firm, Mr. Gbenga Obarro; wife of the celebrant, Mrs. Funmi Braithwaite; and the celebrant, Mr. Kunbi Braithwaite, during his birthday celebration at the prestigious Berkshire Hotel, Asokoro in Abuja....recently

Nguru Agog as Balarabe Leads Albishir’s Supporters to APC Nseobong Okon-Ekong All is now set for Nguru-born businessman and philanthropist, Alhaji Abdullahi Balarabe, to lead the political camp of the late Senator Usman Albishir in Yobe State to the All Progressives Congress (APC) at a rally slated for Nguru today.

The event, which is expected to have the Yobe Governor, Alhaji Ibrahim Geidam in attendance, will see the governorship candidate of the APC in the state, Alhaji Mai Mala Buni, to formally receive Balarabe as well as thousands of Albishir’s core political allies.

Also, the close political associates

of the late Yobe strongman, two scions of the Albishir dynasty Sadik Albishir and Mohammed Albishir are also expected to be received into the APC at the event.

Some of the notable personalities to be received include Zanna Umara Machina, Alhaji Hassan Ibrahim, Isa Yusuf and Madu Kachallah Nguru.

Others are Bulama Usman Abande Yunusari, Yaskuma Meleh Geidam, Isah Maidodo Nguru, Umaru Abubakar Nangere and Mallam Ahmed Potiskum.

They will be joined by all the Peoples Democratic Party (PDP) local government executives and ward leaders loyal to Albishir in

the state.

Speaking on plans for the event, Balarabe said about 500,000 supporters of the late Senator would be returning formally to the APC ahead the elections to ensure victory for the APC in the state.

He said already, arrangements were in top gear to ensure a successful outing, noting that before now, there had been doorto-door mobilisation of Nguru residents for voters registration, cards collection and awareness campaigns of the developmental strides of the APC in the state.

“As individuals, we have strived to touch the lives of a

lot of Nguru people through provisions of various means of livelihood including providing accommodations, jobs, crafts, revolving loan schemes and many other empowerment tools for our people, including influencing power supply to the area.

“The popularity of Senator Usman Albishir can never be underestimated in Yobe politics, much more in Nguru where he hails from. It is for this reason that the reunion of our group into the APC will further boost the prospects of the party as well as cement the winning streak the zone has been known for, for the APC come 2019,” he said.

Group Accuses Kogi Govt of Aiding Violence against Opposition Sunday Okobi Ahead of the upcoming 2019 elections, the All Progressives Congress (APC)-led Kogi State Government has been accused of allegedly sanctioning violence against politicians and groups opposed to the re-election bid of the state Governor, Yahaya Bello.

Several critics of the state government have come out to allege that the APC and Bello were instigating violence as part of the governor’s re-election strategy, arguing that “having underperformed, this was the state’s answer to the increasing

opposition by indigenes and residents in the state to the government’s anti-people policies.”

One of those critics, former Governor of the state, Chief Clarence Olafemi, in a recent interview accused Bello and the ruling party of deploying violence against prominent opposition figures in the state, such as the Peoples Democratic Party (PDP) Senators, Dino Melaye and Ahmed Ogembe, as well as Natasha Akpoti of the Social Democratic Party (SDP).

Also, a pressure group, Kogi Youths Masses Advocacy Group, at the weekend in a statement

raised the alarm over attacks against Kogi East senatorial candidate of the African Democratic Congress (ADC), Dr. Victor Adoji by thugs suspected to be loyal to the state governor and his ruling party.

While lamenting the high rate of attacks in the state as elections draw near, these opposition in the state noted that the state government took this strategy of violence to a new level with the arbitrary shutdown of base transmitting facilities belonging to MTN Nigeria over allegations that the telecommunications giant has

not met its tax obligations to the state government, an allegation which MTN vehemently denies.

However, some communication and political experts in the state view the arbitrary shutdown as a deliberate attempt by the state to undermine voters right to elect their leaders in the coming polls, “since they would be unable to communicate and monitor election happenings.”

The advocacy group added that even the security agencies would be affected by the shutdown.

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PDP Berates Buhari over Hasty Inauguration of Lagos-Ibadan Railway Stop overheating polity, APC tells main opposition party

Onyebuchi Ezigbo and Adedayo Akinwale in Abuja The Peoples Democratic Party (PDP) yesterday chided President Muhammadu Buhari and the presidency for their planned hurried inauguration of the uncompleted section of the LagosIbadan railway, describing the plan as ‘’a pre-election gimmick to hoodwink’’ Nigerians and create an impression of performance, when there is none.

On its part, the All Progressives Congress (APC) said it had watched with consternation how the main opposition party had in the last couple of week elevated falsehood to a high level and urged the PDP to stop overheating the polity.

In a statement issued yesterday by the PDP’s spokesman, Kola Ologbondiyan, the party called on Nigerians to be very cautious of the project, insisting that its inauguration without completion and installation of critical components and infrastructure will be a great risk to lives and property. ‘’This planned commissioning of an unfinished project is a reflection of the Muhammadu Buhari administration’s desperation to pad up its false performance record, for which Mr. President is prepared to jeopardise the lives of Nigerians. ‘’The Buhari presidency, which has displayed complete lack of capacity to improve or manage our railway, had resorted to appropriating the efforts of the PDP administration, as well as lying about their non-existent railway performance, just because the elections are around the corner,” PDP stated.

The main opposition party said while it welcomes any effort to reduce the pains of travelling

between Iju, a suburb of Lagos, and Abeokuta, the planned premature inauguration is a self-serving charade by the Buhari Presidency to “hypocritically ingratiate itself’’ to voters before the election, after which it will be shut down because it is not completed.

PDP added: “This, again, is another gimmick to beguile Nigerians with false performance indices, as they did in 2015 with fake promises.

“The PDP notes that the Buhari Presidency, represented by the Minister of Transportation, Rotimi Amaechi, had in the last three years turned the serious issue of railway to media jamboree with endless site visitations and issuing of disruptive instructions to engineers.

“They want to plunge Nigerians into a disaster with the inauguration of an unfinished project, just because elections are around the corner.

Is it not preposterous that the Buhari administration wants to inaugurate a rail system without adequate provision of basic signal, communication and station facilities?’’

PDP said it is only one track that had been laid between Iju and Abeokuta instead of two, saying the president wants the world to clap for him for such ‘’mediocre’’ performance.

According to the statement, “The Lagos station for this railway is at Ebute Metta and not Iju. When will the rail get there? When will the rail get to Apapa port? When will it connect Ibadan? When will the 13 over rail bridges and key crossings be built?

Meanwhile, as the 2019 general elections fast approaches, the ruling APC said it had watched with disquiet how PDP in the last

North-east Students Endorse Buhari Najib Sani in Bauchi A group of Northern students under the aegis of Students Movement for the Actualisation of Buhari 2019 has endorsed President Muhammadu Buhari for reelection in the February 16, 2019, election and all the APC governorship standard bearers in the North-east region.

The group took the position during a solidarity rally organised yesterday at the multipurpose sports hall in Bauchi.

Speaking during the event, the National President of the group, Abdullahi Yunusa Sangei, said the students of the North-east region have seen the need to come up with a movement to mobilise support for Buhari in view of the leadership qualities of the president who they said had made remarkable achievements in the area of security, education, agriculture, youth empowerment among others.

He said the students in the region have now united with one voice on the candidature of President Buhari as the general

election draws nearer, adding that it is expedient for Nigerians to sustain the developmental efforts of the APC led administration.

“The struggle for the actualisation of Buhari ambition in 2019 is established for the promotion of good governance, peace and sustenance of the APC developmental strides in the country, hence the rally to reiterate our support for President Buhari’s candidature in the forthcoming election,” he said.

Also in his address during the rally, the Grand Patron of the group, Said Aliyu, urged the students to emulate the leadership qualities of President Buhari, saying the president has demonstrated qualities of integrity, honesty and credibility throughout his first term in office.

He recalled that some of Nigeria founding fathers such as Sir Abubakar Tafawa Balewa, Dr. Nnamdi Azikiwe, Chief Obafemi Awolowo among others were worthy of emulation as they went into politics to serve the people despite their differences in religion and ethnicity.

couple of weeks had elevated falsehood and crying wolf into an ignoble art.

“Nigerians have also watched in disbelief how the PDP without proof, has consistently and vehemently pilloried state institutions performing various roles in the coming general election.

“From security agencies to our election management body, the PDP has spared none its barefaced lies. On a daily basis, the PDP has invented one lie after the other to discredit state institutions in the eyes of Nigerians and the international community. PDP’s ignoble actions are unhealthy for our electoral processes and a threat

to our maturing democracy,” APC in a statement signed by its spokesman, Mallam Lanre Issa-Onilu.

The ruling party claimed that the PDP’s game plan is discredit the entire process before, during, and after the elections in order to make the final outcome a “nullity” in its own eyes.

APC advised the opposition party understand that all registered political parties are equal stakeholders in the coming elections, saying that the PDP’s tired narrative that the entire election process is skewed against it should be seen PDP’s admittance of defeat.

DOOR-TO-DOOR CAMPAIGN...

Enugu State Governor and governorship candidate of the Peoples Democratic Party (PDP), Hon. Ifeanyi Ugwuanyi (middle), with jubilant traders, during his door-to-door campaign in Enugu... yesterday

Imo Professionals Back Araraume’s Governorship Bid Iyobosa UwugiareninAbuja Imo Professionals Group (IPG), a group made up of professionals across different sectors, has appealed to the people of Imo State to use the coming general election to begin to address myriads of socio-political and economic crises confronting the state by electing a good administrator – with both private and public sectors technical know-how, who treats all people with the same respect and fairness and does not play favourites.

In a communique signed by

the president of the group, Dr. Emmanuel Nwosu, after the members’ meeting in Owerri, the state capital, the professionals said though the state has sons and daughters who are aspiring to be the next governor of the state, the group had seen very pronounced traits of a good administrator in Senator Ifeanyi Araraume.

The group advised the people to put the state’s interest above their personal interests by rallying around him in the coming governorship election.

“It is a fact that we have many

sons and daughters, aspiring to the position of a governor of Imo State under different political parties; our position is that we need to put our political affiliations aside and elect somebody that can help recover Imo. And we see Senator Ifeanyi Araraume as possessing the right qualities of a good politician and public administrator,” the communiqué stated.

“From what we know about all the candidates, it is clear that it is only Araraume who has demonstrated the political will and ability to manage human and

financial resources effectively in his entire career as a businessman and public office holder. We know him to always make decisions about an employee or his personal staff based on job performance and not on whether he likes or dislikes someone.

“He handles each problem with objectivity and doesn’t allow personal feelings to dictate his course of action; when a situation requires discipline, he always ensures that the action he takes is consistent with similar cases, so that no one can accuse him of favouritism.’’

Court to Hear Kashamu’s Suit Challenging Extradition March 8 DavidsonIriekpen A Federal High Court in Lagos yesterday adjourned hearing in a suit by Senator Buruji Kashamu, seeking to stop his extradition to the United States to face drug charges until March 8.

Kashamu, who is currently the senator representing Ogun East senatorial district at the National Assembly and governorship candidate of the Peoples Democratic Party (PDP) in Ogun State, had in

his suit no: FHC/L/CS/930/2018, joined the following as respondents: the Inspector-General of Police, Commissioner of Police, Lagos Command; Director General, Department of Security Service (DSS); National Drug law Enforcement Agency (NDLEA) and the Attorney General of the Federation (AGF).

He is urging the court to restrain the respondents and their agents from arresting or detaining him, in any manner whatsoever, or interfering with his right to personal liberty and

freedom of movement.

When the case came up yesterday, counsel representing parties informed the court of their readiness to proceed with the hearing, as the notices had been duly served as ordered by the court.

However, it was discovered that a hearing notice was not served on the AGF, a situation the court described as an error.

Consequently, Justice Chukwujekwu Aneke ordered that hearing notices be issued and

served on the AGF before the next adjourned date.

He fixed March 8, for hearing on the applicant’s suit, as well as NDLEA’s preliminary objection in opposition to same.

In a supporting affidavit, the applicant averred that in a newspaper publication, the AGF was reported to have said that the US Government had been told to make fresh request for his extradition, after the former proceedings were dismissed.

MultiChoice Launches 3 NTA Channels on GOtv MultiChoice Nigeria has expanded its free-to-air (FTA) news, politics and entertainment channel offerings on GOtv with the introduction of three new channels from the stable of Nigerian Television Authority (NTA).

The 24-hour channels- NTA

2, NTA Parliament and NTA News 24-commenced airing on 31 January and are available to GOtv customers on MAX, Plus Value and Lite packages.

NTA News 24 (GOtv channel 46) is an English language general news channel, providing current affairs, business, social, economy,

sports and entertainment news as well as in-depth discussions and analyses of topical issues by experts on current regional and international developments. NTA 2 (GOtv channel 114) is a general entertainment channel providing movies, music, events and talk shows among others, while NTA

Parliament (GOtv channel 115) will focus on providing live coverage of sittings of the Senate, House of Representatives, state assembliesas well as discussions and analysis of political, economic, social technological and legal issues affecting Nigeria.

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T H I S D AY Ëž FEBRUARY 6, 2019

Ă&#x153;Ă&#x2122;Ă&#x;Ă&#x161; Ă&#x161;Ă&#x2122;Ă&#x153;Ă&#x17E;Ă? Ă&#x17D;Ă&#x201C;Ă&#x17E;Ă&#x2122;Ă&#x153; Duro Ikhazuagbe Ă&#x2014;Ă&#x2039;Ă&#x201C;Ă&#x2013; duro.ikhazuagbe@thisdaylive.com 0811 181 3083 SMS ONLY

Buhariâ&#x20AC;&#x2122;s Planned Campaign Visit to Lagos Grounds Sports-city Femi Solaja The expected visit of President Muhammadu Buhari to Lagos this Saturday for the grand finale of the All Progressives Congress (APC) campaign has paralyzed activities at the National Stadium in Surulere.

The APC is scheduled to round up the South-west leg of its campaign within the next few days ahead of the February 16th Presidential Election.

Starting from last Saturday, the Department of State Security (DSS) commenced the lockdown of the Sports-city by combing all the nooks and crannies of the facility for anything that may breach security during the â&#x20AC;&#x2DC;Mother of All Rallyâ&#x20AC;&#x2122; scheduled to hold at the Teslim Balogun Stadium, adjacent the National Stadium.

Only officials with valid identification card of the Federal Ministry of Youth and Sports are allowed entry into the stadium.

Miscreants who usually hang around the facility begging for alms from sports officials and star athletes; sports shop owners and workers; food vendor; and patrons of the two popular bars within the Sports-city, namely, Oâ&#x20AC;&#x2122;Jez and Old Skool have all been shut out as the lockdown has paralyzed social and business activities at the place.

Even sportsmen and women who use the facility for their

L-R: Board Member, Athletics Federation of Nigeria (AFN), Chief Solomon Ogba, Music star, Dâ&#x20AC;&#x2122;banj; Chairman, Lagos State Sports Commission, Dr. Kweku Tandoh and Head of Marketing, Seven-Up Bottling Company Ltd. (SBC), Norden Thurston at the Lagos City Marathon press conference in Lagos recently

daily trainings have all been told to go somewhere else till after the visit.

THISDAY checks revealed that not less than N20million must have been lost daily for the period of the lockdown of the facility.

It was also learnt that the

open space at the National Stadium is to serve as car park for the thousands of APC top officials; governors from the South-west region; serving ministers and elected legislators as well as their supporters during the rally.

President Buhariâ&#x20AC;&#x2122;s helicopter

is also expected to land at the National Stadium before taking a walk down to the Teslim Stadium for the rally.

It was further learnt that organisers of the rally had considered the National Stadium to host the rally due to its 60,000-seating capacity but the

deplorable state of the edifice may have been the reason why they opted for the use of the smaller ground of Teslim.

The Tafawa Balewa Square in Lagos Island used to be another option for mega rally like what Lagos is going to witness on Saturday.

Apart from the sports men and women that have been locked out of the abandoned edifice, many social events and sports clubs that make use of the tennis courts, swimming arena have been forced to look somewhere else till after the rally.

AFRICAN U-20 TOURNAMENT

Sâ&#x20AC;&#x2122;Africa Delays Flying Eagles World Cup Ticket The Flying Eagles qualification for this yearâ&#x20AC;&#x2122;s Under-20 FIFA World Cup in Poland will have to wait after they were frustrated by a disciplined defensive performance by South Africa.

The 0-0 draw has kept South Africa alive in the tournament

as they now have a final group game against Burundi.

The Flying Eagles final group game will be against the host nation Niger.

Nigeria still leads Group A with four points, while South Africa are second on two points

LMC FinesTornadoes N1m for CrowdTroubles League Management Company (LMC) has fined Niger Tornadoes N1million for the unruly behaviour of their fans in their Nigeria Professional Football League Match-day 5 encounter with Bendel Insurance.

According to tweets from the official Twitter handle of the LMC, fans of the Minna based club, threw objects including water sachets onto the pitch and the technical area during their goalless draw against Bendel Insurance. â&#x20AC;&#x153;Niger Tornadoes has been charged for breaching the Framework & Rules of the #NPFL during its Matchday 5 fixture vs Bendel Insurance,â&#x20AC;? the tweet by the LMC @ LMCNPFL reads. â&#x20AC;&#x153;Some Tornadoes supporters threw objects including water sachets onto the pitch & the

technical area. â&#x20AC;&#x153;Tornadoes has been fined N1 million for the acts of its supporters who threw objects onto the pitch & the technical area.â&#x20AC;? â&#x20AC;&#x153;A suspended order for Tornadoes to play its subsequent home matches behind closed door, which order is suspended for the probationary period of the rest of the season.â&#x20AC;?

Niger Tornadoes have 48 hours to appeal the sanctions or elect to be dealt by a commission.

The Minna club is rock bottom in Group A of the 2018 NPFL and is yet to record a win in the NPFL this season, with three defeats and three draws.

Tornadoes will host Sunshine Stars at the Bako Kontagora Stadium, Minna in their next league game.

after a 1-1 draw with the tournament hosts at the weekend. The Flying Eagles had 66% of the ball possession and 13 shots on target but they found the defence as well as goalkeeper and skipper Kubeka unbeatable.

It was a story of wave after

wave of Nigerian attack against South Africaâ&#x20AC;&#x2122;s resolute defence.

In the dying minutes, a pile driver by midfielder Jamil Mohammed from the edge of the box was saved by Kubeka.

Meanwhile, Flying Eagles have been paid $1,500 for the 2-0 win

Lokosa Applauds Eunisel for Career Boost Nigerian International, Junior Lokosa, has applauded Eunisell for the companyâ&#x20AC;&#x2122;s commitment to the Nigerian Professional Football League and for being behind his dramatic change in fortune.

Eunisell launched the prestigious Eunisell Boot in 2018 â&#x20AC;&#x201C; awarded to the NPFLâ&#x20AC;&#x2122;s highest goal scorer in a season.

Lokosa, the inaugural winner for his impressive 19 goals scored in 2017/2018, was presented with the trophy and a cheque for N3.8 million â&#x20AC;&#x201C; N200,000 a goal.

The media hype around Lokosaâ&#x20AC;&#x2122;s award caught the attention of African Champions, Tunisiaâ&#x20AC;&#x2122;s Esperance Sportive, who recently signed the Kano Pillars star.

Incidentally, Lokosa had previously travelled to China

and Norway seeking a club, but walked away without securing a deal. â&#x20AC;&#x153;It was only after the Eunisell Boot award had been made along with all the publicity, that my career turned a corner. There can be no doubt that the award will spur young, aspiring players and Nigerian league footballers to perform at a much higher level â&#x20AC;&#x201C; the rewards are realâ&#x20AC;?, Lokosa said.

Eunisell firmly believes that rewarding the top flight League players will improve the standard of football, increase the fans focus on the league and create sports employment opportunities for future generations.

Interestingly, several stars are already in the race for The Eunisell Boot this 2018/2019 NPFL season.

over Burundi in their opening Group A clash last weekend.

The Nigeria Football Federation (NFF) had earlier announced they will not pay match bonuses to the age-group national teams including the Flying Eagles.

After yesterdayâ&#x20AC;&#x2122;s draw with South Africa, the Flying Eagles will qualify for the FIFA U20 World Cup in Poland if they beat host Niger or at worse, pull a draw depending on the result from the other match of the group.

Adamu Relishes Opening Goals Account for Kano Pillars After a dry spell of five games without a goal, Kano Pillarsâ&#x20AC;&#x2122; striker Hassan Adamu finally struck gold hitting a brace against visiting Nasarawa United at the Sani Abacha Stadium in Kano on Match Day 6 of the Nigeria Professional Football League, (NPFL) and considers the goals as huge motivator that will spur him for more. Adamuâ&#x20AC;&#x2122;s two first half goals were sandwiched

by Sunday Chineduâ&#x20AC;&#x2122;s cool finish as Pillars put three past Nasarawa United in one of the NPFL Matchday 6 played on Sunday in Kano.It was a return to winning ways for Manager, Musa Ibrahimâ&#x20AC;&#x2122;s side after failing to record a win in their last four games. An excited Adamu told npfl.ng shortly after the game that he refused to celebrate those goals as they were against his former employers but admitted

that the goals were good for his confidence. â&#x20AC;&#x153;I needed those goals badly to boost my confidence and to motivate me and the team, Iâ&#x20AC;&#x2122;m happy they gave us the win today, unfortunately I couldnâ&#x20AC;&#x2122;t celebrate as I wanted because itâ&#x20AC;&#x2122;s against Nasarawa, a club I still hold dear.â&#x20AC;? â&#x20AC;&#x153;But its a good victory for us, we played well and according to what the coach told us, even though we could have scored more (goals) but at least we are back to winning now which I believe will motivate us for the next games. Asked how many goals he intend to score at the end of the season, Adamu who also once played for Kwara United responded with a smile and said having a double figure would be enough but it must earn Pillars something to celebrate.

55

T H I S D AY Ëž FEBRUARY 6, 2019

WEDNESDAYSPORTS

Tax Fraud: Mourinho Pays Fine to Avoid JailTerm in Spain Ex-Manchester United boss JosĂŠ Mourinho has agreed a prison term in Spain for tax fraud but will not go to jail.

A one-year prison sentence will instead be exchanged for a fine of â&#x201A;Ź182,500 (ÂŁ160,160).

That will be added to a separate fine of â&#x201A;Ź2m.

Spain rarely enforces sentences of less than two years for nonviolent or first-time offenders.

He was accused of owing â&#x201A;Ź3.3m to Spanish tax authorities from his time managing Real Madrid in 2011-2012.

Prosecutors said he had created offshore companies to manage his image rights and hide the earnings from tax officials.

Image rights cover the use of a personâ&#x20AC;&#x2122;s likeness, voice, signature and mannerisms and can be very lucrative for footballers and managers.

Mr Mourinhoâ&#x20AC;&#x2122;s move to Manchester United in 2016 was even delayed after it emerged his previous team Chelsea owned the trademark to his name.

Spanish prosecutors said that Mr Mourinho, a Portuguese national, had set up multiple

Jose Mourinho

business entities in the British Virgin Islands and elsewhere to manage his image rights.

They argued that was designed to obscure his financial

gain from such deals - and he left it undeclared in his tax statements after he moved to Spain.

He is the latest high-profile

football personality to strike a deal with Spanish authorities, which are pursuing a crackdown on tax evasion or fraud by the countryâ&#x20AC;&#x2122;s many

resident star players in January, Cristiano Ronaldo accepted a fine of â&#x201A;Ź18.8m and a suspended 23-month jail sentence, in a case which was also centred around

tax owed on image rights.

He was playing for Real Madrid at the time of the offence between 2010 and 2014 - the same team Mr Mourinho was managing at the time of his own tax violation.

Unlike the Ronaldo case, Spanish media were not told about Tuesdayâ&#x20AC;&#x2122;s hearing, so there was no crowd to meet the former Manchester United manager, who lost his job in December. star, Xabi Alonso, is also facing charges over alleged tax fraud amounting to about â&#x201A;Ź2m, though he denies any wrongdoing. Marcelo Vieira, who still plays for the club, accepted a four-month suspended jail sentence last September over his use of foreign firms to handle almost half a million euros in earnings.

Barcelonaâ&#x20AC;&#x2122;s Lionel Messi and Neymar have also found themselves embroiled in legal battles with the Spanish tax authorities. As in many of the cases, Mr Mourinhoâ&#x20AC;&#x2122;s deal which spared him from prison had been agreed in advance with tax officials.

Mr Mourinhoâ&#x20AC;&#x2122;s representatives have declined to comment.

Tearful Neymar Wishes for â&#x20AC;&#x2DC;New Metatarsalâ&#x20AC;&#x2122; at Birthday Party Paris St-Germain star, Neymar, gave a tearful speech at his 27th birthday party on Monday might where he wished for a â&#x20AC;&#x153;new metatarsalâ&#x20AC;?.

The Brazilian celebrated with team-mates and a number of celebrities at the Pavillon Gabriel near the Champs-Elysees.

Despite his injury, he stayed true to the â&#x20AC;&#x2DC;Nuit Rougeâ&#x20AC;&#x2122; - or â&#x20AC;&#x2DC;Red Nightâ&#x20AC;&#x2122; - theme, greeting guests on a pair of red crutches and wearing custom red trainers made especially for the occasion.

Brazilian singer Wesley Safadao, DJ Bob Sinclair and world surfing champion Gabriel Medina were among the celebrities who joined Neymar and his team-mates for the party on Monday.

Instagram footage shows the Brazilian, who is the worldâ&#x20AC;&#x2122;s most expensive footballer, dancing and singing on stage with team-mates Dani Alves and Kylian Mbappe.

However, there was an altogether different mood when the former Barcelona forward gave a speech later in the night. â&#x20AC;&#x153;What I wanted the most as a birthday present today is a new metatarsal so I could be on the field fighting and doing what I love the most, which is playing soccer,â&#x20AC;? a tearful Neymar said.

The party, which was attended by around 200 guests, almost didnâ&#x20AC;&#x2122;t take place with Neymar admitting during his speech that he almost cancelled the celebrations, only to be talked around by his friends.

He also thanked his team mates for their support, saying: â&#x20AC;&#x153;They are giving me all the strength possible to help me return as soon as possible.â&#x20AC;?

Neymar sustained the injury to his foot during Paris StGermainâ&#x20AC;&#x2122;s cup win over Strasbourg on 23 January, the same injury he suffered

in February last year.

The Brazil forward is said

to be sidelined until April and as a result will miss a

number of games for PSG, notably both legs of their

Champions League last-16 tie with Manchester United.

Neymar celebrated his 27th birthday with a â&#x20AC;&#x2DC;Nuit Rougeâ&#x20AC;&#x2122; theme

FIFA, Qatar Announce Joint Venture to Deliver 2022 World Cup In line with the FIFA 2.0 vision and its objective to create an innovative model that streamlines the operational delivery of the FIFA World Cup, the creation of a joint venture that will be responsible for key aspects of the 2022 edition was announced in Doha yesterday.

FIFA World Cup Qatar 2022 LLC is a limited liability company incorporated by FIFA, which holds 51% of the shares, and the Qatar 2022 Local Organising Committee, which holds 49%, at the Qatar Financial Centre. â&#x20AC;&#x153;Today we take a major step in the organisation of the biggest single-sport event in the world,â&#x20AC;? said FIFA Secretary General Fatma Samoura, who is part of the nine-member management board that met for the first

time today. â&#x20AC;&#x153;Created in accordance with the FIFA Presidentâ&#x20AC;&#x2122;s vision and together with our Qatari counterparts, the joint venture aims to reorganise the way we work at the operational front and avoid inefficiencies. I am convinced that this new approach to planning, delivery and legacy, always hand in hand with our colleagues based in Qatar, will help to ensure that the World Cup continues to be the most eagerly awaited event by billions of fans worldwide.â&#x20AC;?

The management board is also composed of FIFAâ&#x20AC;&#x2122;s two Deputy Secretaries General, Zvonimir Boban and Alasdair Bell, FIFAâ&#x20AC;&#x2122;s Chief Tournaments & Events Officer, Colin Smith, and FIFAâ&#x20AC;&#x2122;s Chief Legal Officer, Emilio

Garcia Silvero, as well as the LLC Chairman, H.E. Hassan Al Thawadi, LLC CEO, Nasser Al-Khater, the QFA Vice President Saoud Al-Mohannadi and the Chairman of the Operational Office and Vice Chairman of the Technical Operational Office of Qatarâ&#x20AC;&#x2122;s Supreme Committee for Delivery & Legacy (SC), Eng. Yasir Al Jamal.

H.E. Hassan Al Thawadi, said: â&#x20AC;&#x153;The formation of this new joint venture comes at a strategically important time on Qatarâ&#x20AC;&#x2122;s World Cup project, as we shift our focus from delivering stadiums, training pitches and the transportation required for 2022, to fan and player experience and event operations. â&#x20AC;&#x153;I am confident that the

combination of FIFAâ&#x20AC;&#x2122;s extensive tournament experience, and our own tactical experience and the nine yearsâ&#x20AC;&#x2122; hard work already invested in the project, will ensure that the first FIFA World Cup in the Arab world is one of the best ever.â&#x20AC;?

Besides Al Thawadi, who is also the Secretary General of the SC, FIFAâ&#x20AC;&#x2122;s Chief Tournaments & Events Officer Colin Smith has been named as Managing Director of the FIFA World Cup Qatar 2022 LLC. Nasser Al Khater, Chief of Tournament Readiness & Experience Group of the SC, will take up the Chief Executive Officer (CEO) position in the joint venture. â&#x20AC;&#x153;The continuous growth and complexities of a FIFA World Cup and the need for integrated involvement of

all key areas across a host country has made it clear that a more efficient and optimised operational structure is required â&#x20AC;&#x201C; this is particularly the case in Qatar, given the unique and compact nature of the tournament in 2022 both in terms of the opportunities and challenges that come along with it,â&#x20AC;? added Colin Smith.

Smith went on to say: â&#x20AC;&#x153;The Qatar-based joint venture that will plan and deliver the next FIFA World Cup will work together with FIFA in Zurich as one team and combine, at all levels, the event experience we have there with invaluable knowledge from our colleagues in Qatar. It is a very important step, which shows how FIFA and the

hosts are working together to deliver a successful and memorable event.â&#x20AC;?

Nasser Al Khater added: â&#x20AC;&#x153;Qatarâ&#x20AC;&#x2122;s World Cup project is entering its final phase and weâ&#x20AC;&#x2122;re all very pleased to launch this new organisation and collectively develop the best possible operational plans for 2022. â&#x20AC;&#x153;In less than four yearsâ&#x20AC;&#x2122; time, we will be welcoming the participating teams and over one million fans to Qatar for the worldâ&#x20AC;&#x2122;s biggest single-sporting event. It is the work we do now which will ensure the experience we deliver is unlike anything previously witnessed at a tournament. I look forward to leading this innovative joint venture with FIFA and the work it will be undertaking in the years to come.â&#x20AC;?

TR

Wednesday February 6, 2019

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Price: N250

MISSILE

Magnus Abe to INEC “What Nigerians are witnessing now is a desperate attempt to reverse the law to get the president to raise the hand of candidates that the law has said does not exist” – The senator representing Rivers South-East senatorial district in the National Assembly, Magnus Abe, debunking the impression that the Court of Appeal ordered INEC to relist APC candidates in Rivers State.

KAYODEKOMOLAFE THE HORIZON

kayode.komolafe@thisdaylive.com

0805 500 1974

Politics and Public Reasoning Democracy has to be judged not just by the institutions that formally exist but also by the extent to which different voices from the diverse sections of the people can actually be heard – Amartya Sen

I

t is significant in many respects that there are other compatriots seeking the highest office in the land apart from President Muhammadu Buhari and Alhaji Atiku Abubakar.

Despite the media portrayal of the current politics, the fact is that in a deeper sense the February 16 presidential election should not just be a game of Buhari’s All Progressives Congress (APC) and Atiku’s Peoples Democratic Party (PDP).

This significance goes beyond the possibility of a “coalition of the willing” producing a third candidate that could really be a formidable option different from the two obviously leading candidates. Yes, politicians are primarily nominated by their parties to seek power.

However, in the context of a stunted polity the participation of other political parties and their respective candidates should enrich the democratic process with harvest of ideas for development. After all, by the logic of election, only one candidate would be elected president or governor. Yet even when a candidate could not secure enough votes to be president or governor, the political resonance of his idea for progress in any department of national life could be of tremendous significance. And that is very important for the polity.

So apart from the presidential hopefuls the other candidates should be given due attention. They should be interrogated on the extent to which they have expanded the ideological content of the polity. However, most of the parties are not taken be seriously partly because they lack programmatic contents.

The absence of issue-based politics is surely an obstacle to the development of liberal democracy in this land.

It is not for nothing that the British liberal philosopher, John Stuart Mill, described democracy as “government by discussion.”

This idea has been further developed by Nobel Laureate in Economics and eminent social philosopher, Amartya Sen, in his important book, The Idea of Justice. While Sen acknowledges the essence of “open, free and fair” elections to democracy he argues that ballots are only an “important part of the way public reason operates in a democratic society.” Other important elements include social justice, well being, social protection, free speech, access to information and freedom of dissent. In fact, for Sen, democracy itself could be described as “public reason.”

The essence of public reason is to make political decisions justifiable in the estimation of the people. And the justification would be invariably informed by the impact of those decisions on the quality of their lives.

Democratic elections are meant to put in place those who wield powers to make these political decisions. Even if the institutions of elections work, without proper discussions of issues of development on which the choice is based a huge democratic deficit would still be deemed to exist. Hence the usual, periodic question by politicians during elections as they attempt to win the voters over to their

INEC Chairman, Prof. Mahmood Yakubu side: has your condition improved in the last four years of the incumbent president being in power?

The socio-economic choices to be made by those to assume power after the election would ultimately be determined in political terms. That’s why as many views as possible should be made available for the people to endorse during elections. The more the voices that are heard, the better for the polity.

Long after the elections, it would still be a matter of reflection how much of public reasoning is contained in the democratic process.

In retrospect, it is quite evident that the idea of giving content to democracy Nigeria is not new. More than a quarter of a century ago, the regime of General Ibrahim Babangida staged an experiment in this direction. It was in the course of a long-winding transition programme, which collapsed with the annulment of the June 12, 1993 election won by MKO Abiola, which ironically was to be the culmination

Beyond executing random projects, governance requires that a president or governor should be guided by an organising principle of development contained in his party’s policy document. Such a document should form the basis of the party’s engagement with the public

of the process. The theory and practice of this transition is efficiently documented in a book, Transition to Democracy in Nigeria, written by Tunji Olagunju, Adele Jinadu and Sam Oyovbaire, three eminent scholars who worked closely with the regime in managing the transition.

At a point in the transition programme, the regime asked politicians to form parties.

In the course of seeking registration, parties were actually graded on the basis of their constitutions and programmes apart from the membership spread and physical preparedness measured by opening of offices and staff.

Six parties were eventually shortlisted by the electoral commission based on the respective marks scored. By the way, the Independent National Electoral Commission (INEC) of Professor Mahmood Yakubu does not enjoy such magisterial powers!

Suddenly the six parties were dissolved because the regime wanted parties of “equal joiners and equal founders.” The regime also wanted to ward off the undue influence of “money bags” on the transition.

Subsequently, the military regime decreed two parties, the Social Democratic Party (SDP) and the National Republic Convention (NRC) with constitutions and manifestoes. In spelling out the elaborate programmes and policies of SDP and NRC, the regime even gave them a tinge of ideological bearing. The SDP was described as “ a little to the Left,” while the NRC was said to be “a little to the Right.” A major critique of the process was that the parties selling those programmes during elections were non-organic. The methodology of the transition was considered rather mechanical.

It is now only a matter of historical conjecture what direction democratic development could have taken in Nigeria if the transition had been concluded with the inauguration of the winner of the election as president.

Meanwhile, is it not worth pondering that despite their democratically flawed emergence the SPD and NRC of 1993 had more content in terms of programmes and ideology that most of the parties having their names printed on the ballots of the 2019 elections? In fact a similar question could be asked in examining the issues raised in previous elections since 1999. The designers of the of the transition that failed 26 years ago at least placed some premium on ideas. They gave a place to reasoning and public discussion of issues of politics. In fact, the theoreticians actually posited that ideas “constitute a motive force” of democracy.

In this regard, the polity needs not just other candidates apart from Buhari and Atiku.

Nigeria also needs alternative strategies of development. And that is going beyond the mantra of “private sector-led economy.” The candidates should be conscious of the onerous responsibilities of governance, which like any developed nation in the world, cannot be abandoned to market forces. In any case, the responsibilities of governance cannot be avoided. For the private sector itself to perform any of the tasks it is loaded with, it requires a certain level of competence in corporate governance. Successful players in the private sector know that governance is a must. So those who seek power must be ready to govern by seeking practical solutions

rather than dreaming that some phantom market forces would solve social problems.

For instance, it is no mark of progress that instead of advancing creative solutions to the decay in public education some of the “young” presidential candidates still think the task should be left for the private sector that is operating in a difficult environment.

Now that is akin to policy escapism in a country with over 13 million children out of school while tertiary institutions are shut down episodically because of the teachers’ protest against poor funding. Poverty reduction involves deliberately tackling the problems in the social sector with pro-people policies in education, healthcare, social housing, mass transit, sanitation etc.

To be sure, governance involves making political decisions on the issues affecting the lives of the people. Public reason demands that these issues are discussed in an enlightened manner as politicians seek votes.

One apt statement made during a recent presidential debate by Kingsley Moghalu of the Young Progressive Party is that in discussing economic policy options, it is important to make a clarification about the philosophical underpinning of the economy being run. Such a clarification is important for policy options.

Beyond executing random projects, governance requires that a president or governor should be guided by an organising principle of development contained in his party’s policy document. Such a document should form the basis of the party’s engagement with the public.

Take another sample. The problem in power sector has not been discussed exhaustively. The Midas touch of the private sector has simply failed in that sector. There is a patent lack of capacity. But not many policy discussants would readily admit it. Six years after some investors took over the sector, the electricity demands of domestic and industrial consumers are yet to be satisfactorily met. If anything, the public is daily fed with rationalisations by those who are in the business of electricity distribution but cannot even provide meters for the consumers. The new tales issuing from the sector are similarly to those ones told before privatisation. A classical case made for privatisation was that foreign investors would be attracted to the sector with their money and technology. That didn’t happen when the DISCOs and GENCOs came on stage of the business. Yet experts and non-experts agree that no economic plan will work in Nigeria without solving the electricity question. The presidential candidate of the Social Democratic Party, Donald Duke, recently made a point worth debating. He said he would rather subsidise the provision of gas to ease things in the power sector rather than subsidise fuel. The factor of energy in the future of Nigeria out to be a matter of public reasoning.

Doubtless, the various parties and candidates ought t come up with options to solve the problem of the power sector beyond what the APC and PDP have put on display.

Public reason requires that in an election year the discussion of the problems facing the country should be more rigorous than what is taking place at present.

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