WEDNESDAY 20TH FEBRUARY 2019

Atiku: APC Plans to Compromise Smart Card Readers Adedayo Akinwale in Abuja The presidential candidate of the Peoples Democratic Party (PDP), Alhaji Atiku Abubakar, yesterday pointedly accused the All Progressives Congress (APC) of a grand plan to rig the presidential and

National Assembly elections rescheduled for Saturday.

Speaking at the PDP 84th National Executive Committee (NEC) meeting held at the party's headquarters in Abuja, the PDP flag bearer alleged that the ruling party had sent a contingent of agents to China

to learn how to compromise the smart card reader, a key tool for accreditation of voters during the election.

Atiku also described as shocking the directive of Buhari that the military and police should be ruthless in dealing with miscreants,

stressing that the president has failed to uphold the rule of law by constantly violating it.

He stated: "It is shocking for any Head of State to utter such words in a democracy and we shall not accept it from Gen. Buhari in this country.

We have fought more ruthless

dictators than himself.

“A precondition for free, fair and credible election is that the people are able to freely vote the candidate of their choice. You owe it to the people to let them give their verdict in the same way that you were elected. If you do

so and if you win, then the people will commend you for it but otherwise, history will condemn you for it but before history does that, we will condemn you for it.

“We have just discovered Continued on page 10

Banks’ Capital Adequacy Ratio Rises to 15.26%... Page 11 Wednesday 20 February, 2019 Vol 24. No 8718. Price: N250

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We Are Now Ready for Elections, Says INEC Reports 98% of card readers reconfigured Denies officials were quizzed by DSS Adedayo Akinwale in Abuja After the tongue lashing by virtually all segments of the public for last Saturday’s last minute postponement of the presidential and National Assembly elections, the

Independent National Electoral Commission (INEC) yesterday began the public confidence rebuilding process, telling Nigerians that it is now ready to hold the polls rescheduled for Saturday nationwide.

Its Chairman, Prof.

Mahmood Yakubu, in his first progress report told the media in Abuja that the hitches that caused the poll shift have been cleared and that the fresh time-lines for the conduct of the election are now being met.

Specifically, he said the commission has achieved 98 per cent reconfiguration of its smart card readers, saying it is a significant milestone towards the conduct of the election and assured that the remaining two per cent would

be completed today.

Responding to media reports that a couple of its senior officials are being quizzed by the Department of State Security (DSS), raising fears that the commission’s work might be hampered,

Yakubu denied the reports and said no director or national commissioner of the commission has been arrested by the DSS. However, THISDAY’s Continued on page 10

In New Video, Buhari Appeals to Voters to Turn Out on Saturday Meets security chiefs, IG warns ballot box snatchers DHQ: We will be guided by the constitution Yakubu: Offenders should be punished according to law Omololu Ogunmade and Adedayo Akinwale in Abuja In a new video released by the presidency in Abuja yesterday, President Muhammadu Buhari appealed to Nigerians to brace the odds and turn out to cast their votes at the rescheduled presidential and National Assembly elections on Saturday.

Posted on a State House website, Presidency Office of Digital Engagement (PODE), the video showed the president commiserating with millions of Nigerians who were determined to vote during last Saturday's botched presidential and National Assembly polls but Continued on page 11

Protest in London as Leah Sharibu Clocks One Year in Captivity... Page 10

BACK TO THE DRAWING BOARD...

L-R: Presidential candidate of the Peoples Democratic Party, Alhaji Atiku Abubakar; National Chairman, Prince Uche Secondus; and Senate President, Dr. Bukola Saraki, during the 84th National Executive Committee meeting of the party in Abuja… yesterday julius atoi

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WEDNESDAY, ͺ͸˜ ͺ͸͹΁ ˾ T H I S D AY

PAGE TEN

Protest in London as Leah Sharibu Clocks One Year in Captivity BBOG asks FG to explain silence Kasim Sumaina A group of protesters, led by former presidential aide, Mr. Reno Omokri, laid siege to the Nigerian High Commission in London yesterday to commemorate the first year of the incarceration by Boko Haram of Dapchi School girl, Leah Sharibu.

The protest, which the organisers said was to remind the world of the failure of the federal government to secure her release, was complemented by a query from the Bring Back Our Girls Group (BBOG) and Committee for the Defence of Human Rights (CDHR), questioning the silence of the Muhammadu Buhari administration over the school girl’s one year long captivity by the terror group.

The London protesters called Leah’s mother, Rubeccah, and empathised with her, telling her that they stood with her in her low moments.

The protest organised by

Christian Support Worldwide (CSW) began in the early hours of the day, with the group’s Founder and Chief Executive, Mr. Mervyn Thomas, saying they would keep vigil at the commission’s premises.

Omokri told the protesters that it was sad that one whole year after the schoolgirl was abducted the federal government had been unable to secure her release.

Back home in Nigeria, the BBOG chided the federal government on its inability to rescue the Dapchi School girl, who was abducted alongside 112 others exactly a year ago.

The group, while lamenting the continued incarceration of the young schoolgirl one year after by the Boko Haram Islamic sect, urged the federal government to explain why it has remained silent on the issue.

The Chairperson of BBOG, Ms. Edith Yassin, in a telephone chat with THISDAY, in Abuja, maintained that there was really nothing much to commemorate.

According to her, "There's really nothing much to commemorate about because of government’s silence on the matter. We didn't make any arrangement to mark the kidnapping of the Dapchi schoolgirl, Leah Sharibu.

Because of the elections, we didn’t know what the situation will be, so we just decided to leave."

She added: "We can't march now, because there are issues in the air. We didn't really arrange anything because we feel the government is a bit jittery about the postponement of the elections."

Yassin chided the federal government for waiting for the deadline before trying to rescue Sharibu and two other captive aid workers, Loksha and Liman, who were executed by the Islamic terrorist group.

She asked: "Why is the federal government silent, when will #Leah Sharibu, Alice Ngaddah, and the 112 #Chibok girls and all other abductees be free from

the clutches of Boko Haram.

"Has government really ignored Leah Sharibu and other abducted girls?

Who will account for all the monies spent and, how long before government will realise that all lives matter?"

The group, while also calling for the return of the Internally Displaced Persons (IDPs) to their various homes, urged the federal government to ensure the security of its citizens.

On its part, CDHR called on the federal government to intensify efforts to negotiate the release of the Dapchi school girl, Leah.

According to a statement issued yesterday by the National President of CDHR, Malachy Ugwummadu, the group berated the government for the continued promises for the release of Leah without the corresponding efforts to practically effect her release.

Ugwummadu said the promise has become a cliché meant to satiate present

electioneering demands.

“No doubt, the pains and anxieties of such hope against hope have become excruciating to members of her family.”

He also noted that President Buhari’s administration has been so preoccupied with the president's re-election bid that only scant attention has been displayed to make efforts needed for Sharibu’s release, adding that repeated calls have been made by her parents, civil society organisations and concerned citizens for her immediate release.

He remarked that one year after, these calls for her release have become recurrent and sadly reminding them that their innocent daughter has added a year in the captivity of such a violent sect.

According to Ugwummadu: “On February 10, 2019, her mother Rubeccah, has yet again renewed her appeal and is now begging the federal government to do something much more concrete. On account of this,

CDHR joins Rubeccah Sharibu in demanding that the federal government fulfill its promise of securing the release of Leah Sharibu.

“Nigerians are enjoined to remain steadfast and focused on their demands for the immediate release of Leah and other captives, regardless of the present election demands.

The primary purpose of every government in keeping with Section 14(2) b of the Constitution of the Federal Republic of Nigeria 1999 (as amended) is the welfare and security of lives and property.

“Thus, if the lives, including that of Leah, for which government all over the world exists in the first place would be destroyed, then for what purpose will the government of Nigeria serve when constituted after election?

We should hearken to the cry of a distressed mother and remain resolute and focused on rescuing Leah Sharibu and others in captivity.”

by some people as materials for the elections holding this weekend. I want to reassure you all that all materials for the rescheduled presidential and National Assembly elections next Saturday are already in the states ready for deployment to LGAs, Ward and Polling Units. ‘’We have learnt a lesson from the preparations for the elections holding this weekend.

For this reason, we shall start the movement of materials for the next elections early to ensure that nothing disrupts our process.

“While we fully understand the disappointment and even anger that followed that rescheduling of the elections on February 16, I wish to appeal to stakeholders to be more dispassionate and circumspect in their comments in order not to overheat the polity. ‘’The commission is focusing on the elections to be held on February 23 and 9th March 2019 to ensure that they are free, fair and credible. We urge all Nigerians to participate fully in the elections, notwithstanding the disappointment caused by the rescheduling of dates.”

He said the commission would continue to speak to Nigerians daily to let them know the extent of readiness of the commission.

Commenting further on the role of the State Department, he asked Secretary Pompeo to conduct an internal investigation into why a handful of State Department officials had apparently pushed for a statement last month “welcoming” the results of a fraudulent election in the Democratic Republic of the Congo (DRC), defying a reported interagency consensus that had sought accountability and transparency.

“More than ‘unfortunatelytimed,’ that statement accepting electoral fraud in the DRC sent a negative message throughout sub-Saharan Africa,” Smith said.

“Indeed, it may be directly contributing to the electoral chaos and violence we are seeing unfold in Nigeria. There must be an internal investigation at State and those responsible must be held to account.”

Smith is the lead Republican co-sponsor of H. Con. Res. 4, introduced by Rep. Karen Bass of California, which calls for “credible, transparent and peaceful elections in Nigeria, and he chaired a hearing in December entitled “Nigeria at a Crossroads: The Upcoming Election,” which featured testimony from the State Department and USAID with regard to support for a free and fair electoral process in Nigeria.

Christopher Henry Smith, an American politician currently serving in his 20th term as the US Representative for New Jersey's 4th congressional district, has blamed Buhari and those

close to him for the last-minute postponement of the 2019 elections by INEC. Smith, who is also the immediate past chairman of the House Foreign Affairs Subcommittee on Africa, said in a statement he issued on Monday: “Responsibility for the delay of Nigeria’s presidential election lies squarely with President Muhammadu Buhari and those close to him.

“Actions in advance of the election — including removal of Supreme Court Chief Justice Walter Onnoghen and arson attacks on INEC offices in opposition strongholds — are undermining confidence that this election and subsequent gubernatorial elections will be free and fair. At a minimum, the presidential election must meet the 2015 standard, which saw a peaceful transfer of power and a statement by the then-sitting president that all bloodshed must be avoided.”

Smith also called upon the Trump administration and the State Department to focus greater attention upon Nigeria, saying: “In addition to being sub-Saharan Africa’s most populous nation, Nigeria is its biggest economy, and what happens in Nigeria has ramifications beyond its borders.

“Given the magnitude of global problems Secretary Pompeo must contend with, he should consider appointing a Special Envoy for Nigeria vested with full authority. The State Department must use all tools at its disposal, including visa denial and sanctioning authority, to hold accountable those who undermine democracy and foment sectarian and ethnic violence.”

away voters and agents, that we have directed the people to defend their votes, so as not to give way to a military protected political thugs, to come into the polling booths, and implement their result replacement strategy.”

On his part, the Director General of PDP Presidential Campaign Organisation, and Senate President, Dr. Bukola Saraki, said that APC don't want INEC to hold elections on Saturday and urged INEC to deliver for the sake of millions of Nigerians.

Those present at the meeting include; Deputy

Senate President, Senator Ike Ekweremadu; Speaker, House of Representatives, Hon. Yakubu Dogara; former Senate President, Senator David Mark; former Minister of Special Duties, Alhaji Kabir Tanimu Turaki SAN; Governor of Gombe State, Alhaji Ibrahim Dankwambo; Governor of Benue State, Dr. Samuel Ortom; Governor of Kwara State, Alhaji Abdulfatah Ahmed; former Governor of Ekiti State, Mr. Ayo Fayose; former Governor of Niger State, Dr. Babangida Aliyu; former Katsina State Governor, Alhaji Ibrahim Shema; and Senator Dino Melaye, among others.

WE ARE NOW READY FOR ELECTIONS, SAYS INEC checks

revealed that six senior staff members of the commission, including Professor Okechukwu Ibeano, Mr. Festus Okoye, Mr. Osaze Uzi and others, were invited by DSS for a chat.

But Yakubu stated: “No commissioner of the commission was picked up by any security agency; no house of any commissioner of INEC was raided; no any commissioner of INEC has been picked up by security agencies. The particular commissioner you are referring to that was mentioned in the social media is as we speak, in his office in the commission.

Similarly, no six directors were picked up by any security agencies.”

The chairman revealed that by 4p.m. on Monday, all issues relating to the delivery of the materials were identified and virtually addressed.

According to him, “Last Saturday, the commission, after extensive review of our preparedness for the 2019 general election, decided that it was necessary to reschedule the elections by one week. ‘’As I explained to stakeholders, we were constrained to shift the polls due to severe challenges and lapses we experienced with arrival and distribution of sensitive materials, as well as the fires that gutted some of our offices in quick succession, destroying several election materials.”

He said INEC had identified six areas covering three broad areas like deployment of materials, movement of personnel and reconfiguration of smart card readers.

Yakubu said: “Let me, therefore, present to you the

level of implementation so far achieved as follows; by 4p.m. yesterday, all issues relating to the delivery of the materials were identified and virtually addressed. Ballot papers, result sheets and a host of non-sensitive materials are now in location across the 36 states of the federation and the Federal Capital Territory (FCT).

“Our state offices commenced the process of inviting stakeholders to the Central Bank of Nigeria to examine the retrieved materials deployed last week and to witness the batching of materials according to local government areas. This is on-going at the moment and is expected to be completed today, Tuesday 19, February 2019.

“The movement of materials to LGAs for batching according to wards and polling units shall take place on Wednesday, 20 and Thursday, 21 February 2019.

“All Registration Area Centres (RACs) are to be activated by 9a.m. on Friday, February 22, 2019. Personnel and materials should be at the RACs by mid-day on Friday, February 22, 2019.

“Refresher training for ad hoc personnel should take place at the RACs on Friday, February 22, 2019. Personnel and materials must arrive at the Polling Units latest 7a.m. on Saturday 23, February 2019.

Opening of polls nationwide will take place at 8a.m. on Saturday, February 23, 2019.”

Explaining further on the rationale for a week long postponement of the polls, the INEC Chairman said; “You would recall that in my address to stakeholders, I mentioned that we intended to reschedule the elections for just 24 hours to

enable us to deliver the final batch of sensitive materials for the elections. ‘’However, our ICT team notified us that it would require more time to reconfigure the Smart Card Readers in time for the elections. Let me explain why. The Smart Card Readers (SCRs) are configured to only open for use at 8a.m. on Election Day, and to automatically shut down by 10p.m. ‘’This is designed to forestall any illegal use of the SCRs before the appointed time of elections.

There are roughly 180,000 SCRs to be deployed for the elections and the ICT team said that they would require 5-6 days to complete the configuration. ‘’I am glad to say that as at today, about 98 per cent of the SCRs have been reconfigured and we are confident that by tomorrow all would be ready, which is a day earlier than scheduled. ” The INEC chairman also stated that campaigns for the presidential and National Assembly elections shall now end at midnight on Thursday, February 21, 2019, while campaigns for the governorship, state assembly and FCT Area Council elections shall end at midnight Thursday, March 7, 2019.

He explained that preparations for governorship, state assembly and FCT Area Council elections are well underway, saying already, the sensitive materials for the elections have started arriving at various locations for onward movement to various CBN branches across the country.

Yakubu further stated: “Indeed, some of these materials arriving through our airports have been erroneously construed

US Congressman Blames Buhari, Allies for Polls Shift

ATIKU: APC PLANS TO COMPROMISE SMART CARD READERS that the APC have hired many of their operatives and have taken them to China to be trained, and they have been so trained, and they are back, and they are equipped with devices that are meant to slow or fasten our card readers.

“So, if you are in the Southsouth, South-east and Northcentral, you are likely to get your card readers to be slowed by those APC operatives.

“If you are from the Northwest, North-east or South-west the tendency is that they will use these machines to fasttrack the readings of your card readers, so that many

of their supporters can vote while disenfranchising the other three zones.”

Also, the National Chairman of the party, Prince Uche Secondus, said that APC is trying hard to extricate itself from the mess that led to the postponement of the elections, but that the more the party tried, the more it became clearer that they were indeed a critical accomplice in the untidy outing of the electoral commission.

He said that the ruling APC cannot extricate itself from the mess that led to the postponement of the elections.

He added that while the

APC Director of Planning and Election Monitoring, and Minister of Power, Works and Housing, Mr. Babatunde Fashola, and its National Chairman, Mr. Adams Oshiomhole, struggled to turn the mess of last Saturday away from their party through their various utterances, they ended up exposing their involvement in a marriage that has gone sour.

“They still believe that they can deceive Nigerians into not recognising the crocodile tears from the real ones,” he said, adding: “The agenda of that directive is clear, to scare

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WEDNESDAY, ͺ͸˜ ͺ͸͹΁ ˾ T H I S D AY

NEWS

Banks’ Capital Adequacy Ratio Rises to 15.26% Obinna Chima The Central Bank of Nigeria (CBN) has disclosed that the Capital Adequacy Ratio (CAR) of commercial banks has improved from the 10.79 per cent as at August 2018, to 15.26 per cent as of December 2018.

CBN’s Deputy Governor, Financial System Stability Directorate, Mrs. Aishah Ahmad, disclosed this in her personal comment in last month’s Monetary Policy Committee (MPC) meeting’s communiqué.

She attributed the development to recent promissory notes issued by the federal government to settle contractor debts, adding that liquidity ratios, return on asset and return on equity remained robust.

According to her, the marginal improvement in non-performing loans (NPLs) ratio was also expected to strengthen further.

CAR is a measurement of a bank's available capital expressed as a percentage of its risk-weighted credit exposures.

The CBN requires that banks with international subsidiaries maintain CAR of 15 per cent, while banks without international

subsidiaries maintain CAR of 10 per cent.

But the minimum requirement for the systemically important banks is 16 per cent.

The central bank also plans to introduce new capital rules in the second quarter of 2019 that would be stricter about what sort of funding qualifies as capital.

The rules, which will align the banking industry with the international accord known as Basel III, also require lenders to create buffers that should help them in the case of a crisis.

Continuing, Ahmad explained: “Data provided by bank staff showed that the industry capital adequacy ratio increased considerably from 10.23 per cent in December 2017 to 15.26 per cent in December 2018.

“The improvement in capital buffers is a positive development, which will be critical should a downward trend in crude oil prices manifest given banks’ portfolio concentrations in the oil and gas sector.”

Notwithstanding the robust liquidity levels, Ahmad expressed dissatisfaction that credit to private sector has remained lower than required to support

CBN Governor, Godwin Emefiele business investment and longterm growth.

Growth in lending portfolios is particularly important to diversify banks’ asset portfolios away from energy-related assets as earlier mentioned, she stressed.

She urged banks to be fully committed to de-risking their portfolios through new lending to small and medium scale enterprises (SMEs) and previously overlooked, but high potential sectors such as services and creative industries.

“The use of innovative technology by some of the larger commercial banks for more

efficient and scaled deployment of retail lending is commendable, even as the micro finance sector is repositioned to more effectively serve its target segments.

“Naturally, these efforts will continue to be supported by continued de-risking initiatives by the CBN, especially for SMEs to improve the industry risk appetite, to engender more sustainable lending,” she explained.

Ahmad also warned that volatility in crude oil prices, coupled with reliance on oil for about 90 per cent of foreign exchange earnings in Nigeria was a key risk factor for the economy, with significant implications for continued accretion to external reserves, and as a direct consequence, exchange rate and price stability.

“More importantly, the scope of the fiscal authority to stimulate growth remains constricted, in view of the attendant low revenue and fiscal buffers as well as rising public debt.

“This raises further concerns with regards to growth prospects in the medium-to-long term and calls for even greater focus and commitment to achieving fiscal

consolidation.

“Juxtaposing the signals from the global environment with domestic economic developments, there are indications that the risks to price stability remain ever present, coupled with the challenge of a persistent low growth environment.

“The monetary authority must therefore remain vigilant and forward looking to successfully deliver on its mandate to maintain price stability conducive to economic growth,” she added.

In his contribution, another member of the MPC, Mr. Adeola Adenikinju, noted positive trend in all financial system indicators (FSI) between November 2018 and January 2019.

“The NPLs ratio continues its downward trend, capital adequacy ratio of the banking sector improved three consecutive months, liquidity ratio inched northward, aggregate assets and deposits of the banking sector also rose over the same period.

“However, the monetary authority should not lower its guard and must continue to monitor the banks and implement policies to consolidate and further improve the FSI.

“Aggregate credit expansion to the real economy continues to pose serious challenges. Net credit growth to the private sector is lower than provisional benchmark for 2018. The high interest rate spread and the high lending rates are challenges that require new and innovative approaches,” he said.

Adenikinju said the proposed national microfinance bank (MFB), strengthening of the existing MFBs, among other initiatives by the CBN to promote financial inclusion and access to credit by those in the rural areas would boost real sector activities.

“Nigeria is also confronted with a number of uncertainties in 2019. The threats around the general elections, the national minimum wage legislations, strikes by unions seeking improved working conditions, the continuous insurgencies in parts of the country, impacts of climate change manifesting in increased incidence of flooding, desertification and lower agricultural productivities, oil market volatilities are additional challenges that will have impacts on the economic landscape in 2019,” he said.

yesterday in Abuja ahead of the emergency National Executive Committee (NEC) meeting of the Peoples Democratic Party (PDP), warned the security agencies that obeying such directive by the president could lead to the prosecution of the military personnel at the International Court of Justice (ICC).

Ortom said that while he does not condone election rigging, due process of law must be followed in dealing with those who commit infractions.

The governor condemned the position of the president to allow security agencies to deal ruthlessly with Nigerians, noting that it would not be accepted and that the party would contest it.

He stated: “It is unfortunate that Nigeria is gradually drifting to a banana republic where no rule of law is respected and observed.

“A government that was elected democratically is gradually turning into a dictatorship. It is unfortunate for our own president to come out and disregard the provisions of the laws of the land and give orders for extra-judicial killings in the state and torture against innocent Nigerians.

“Let me say unequivocally that I am completely against rigging of any form by any political party. It is wrong and we do not need that.

“For me, I did not rig election to become governor. But the truth of the matter is that we have laws and I expect that Mr. President who is the chief custodian of the Constitution of the Federal Republic of Nigeria should protect our constitution and the laws of the land. It is unfortunate that Mr. President gave that order.

“I was just reading from the social media the reaction of the military that they are going to obey the directives of Mr. President to the letter. It is unfortunate. This cannot stand, this cannot hold.

“I want to advise those who are in the military, police and the other security agencies that they should know that they are also Nigerians. Today, they are serving the public; tomorrow they will not be there. Maybe some of them will become politicians like some of us are.

“It has happened in the past and it will happen again. And I also want to remind them that the day of reckoning will definitely come when they will be alone to give account of their stewardship.

“So, I want to advise them to respect the rules of engagement

based on the laws of the land.

No matter the directives of Mr. President. The police, Army, DSS and all other security agencies should be professional rather than taking arbitrary directives. This is not correct. In a democratic set up, things must be done rightly.

“To the security agencies, I want them to know that beyond Nigeria, there is International Criminal Court. And when you finish your tenure, you will still be liable. If you do that which is wrong, Mr. President will not be there tomorrow to protect you.

So, they have to be mindful. We must protect the Constitution of the Federal Republic of Nigeria, otherwise none of us will be safe again including the president.”

IN NEW VIDEO, BUHARI APPEALS TO VOTERS TO TURN OUT ON SATURDAY had their expectations dashed by the sudden postponement of the election by the Independent National Electoral Commission (INEC).

He appealed to them not to lose hope in the country's electoral system, but should rather sustain their commitment to perform their civic rights.

The president assured the voters of their protection during the elections and also thanked them for their trust in his government to conduct free, fair and credible polls, assuring them that their votes will count as the government is prepared to disallow vote buying and intimidation during the polls.

Buhari said: "I want to commiserate with millions of Nigerians who either travelled hundreds of kilometers to cast their votes or put so many things on hold in order to cast their votes last weekend but couldn't do so. I thank you for your commitment.

I appeal to you not to lose hope in our electoral system.

"I ask you not to allow the unexpected postponement of the elections by INEC to prevent you from exercising your civic rights.

“Your enthusiasm is a process, and determination to vote in the elections must not be jeopardised.

I ask all Nigerians to brace the challenges and make sure they cast their votes.

"This government assures all voters of their protection before, during and after the polls. I also thank all Nigerians for their trust in our government to conduct credible elections, where your votes can count. Your votes will count as we are committed to rid our electoral process of vote buying and intimidation. Thank you and God bless the Federal Republic of Nigeria."

The president also met with security chiefs yesterday to review strategy for peaceful conduct of the presidential and National Assembly elections rescheduled for Saturday, emerging with a resolution reinforcing the president’s Monday warning that ballot box snatchers would face grave consequences for their action.

At the meeting with the president were the Chief of Defence Staff, Chief of Army Staff, Chief of Air Staff, Chief of Naval Staff, Director-General of Department of State Services (DSS) and Inspector General of Police.

Although the Inspector General of Police, Mr. Mohammad Adamu, warned miscreants to

stay off the polling areas and do not foment trouble, saying the full weight of the law awaits them if they misbehave, military authorities, however, said the conduct of its personnel in the elections would be guided by the 1999 Constitution as altered.

Also speaking on the president’s directive, Independent National Electoral Commission (INEC), Chairman, Prof. Mahmood Yakubu, said violators should be punished in accordance with the electoral law.

The INEC chairman stated yesterday during a press conference in Abuja: “The position of the commission is that all violators of the Electoral Act should be punished according to the provisions of the Electoral Act,” he said.

The Defence Headquarters (DHQ) in an interview with THISDAY was similarly inclined, saying that the involvement of the military starts and ends with the provision of a peaceful and secure environment for the conduct of the general election.

Adamu, who spoke on behalf of his colleagues, told State House correspondents that the heads of security agencies met with the president, reviewed security situation in the country and resolved to ensure adequate security during the polls.

He echoed Buhari’s speech, threatening that anyone who snatches ballot box during Saturday's polls will face the music.

Buhari, who at the national caucus' meeting of the All Progressives Congress (APC) at the party secretariat in Abuja on Monday, said he had ordered security agents to deal ruthlessly with anyone who snatches ballot boxes, saying anybody who plans to snatch ballot boxes will be doing so at the expense of his life.

According to the IG, "Today, members of the security community and intelligence community came and briefed Mr. President on the security situation in the country. We deliberated on the consequences and came up with the resolve to further provide adequate security within the country so that the electorate will come out and cast their votes without any fear of molestation.

"Every Nigerian is encouraged to come out on Election Day and cast his or her vote without any fear of molestation. The security personnel are ready and prepared to protect everybody.

"Anybody that feels that he

can come out and disrupt the process should have a rethink because that situation will not be allowed. If you plan and allow yourself to be used as touts, whatever happens to you, you will take it.

"Ballot box snatching, ballot buying, thuggery will never be allowed. Anybody that is planning to snatch ballot boxes or planning to be used as a tout will have his or herself to blame on Election Day. So, you better don’t allow yourself to be used."

The IG said that thuggery, touting and ballot box snatching during the polls will be met with grave resistance.

However, Adamu encouraged law abiding citizens to freely go out on Saturday and cast their votes without any fear of molestation, assuring citizens that security agents will duly protect them and guarantee their safety.

The president's comment has been condemned by many, who reminded him that the punishment for ballot box snatching is imprisonment for a period of time and not instant death as threatened by him.

DHQ: We Will Be Guided by the Constitution Meanwhile, the military authorities said yesterday that the conduct of military personnel in the Saturday's presidential and National Assembly elections would be guided by the constitution.

The DHQ also clarified that the involvement of the military "starts and ends with the provision of a peaceful and secure environment for the conduct of the general election."

DHQ said it endorsed a statement issued by the Nigerian Army to the effect that the activities of the military personnel in the election would be guided by the constitution.

It said its rules of engagement and code of conduct did not assign any political role to the military as regards its conduct in the presidential and National Assembly elections.

A statement issued by Army spokesman, Col. Sagir Musa, had said the role of the military starts and ends with provision of security for a peaceful conduct of the election.

Defence spokesman, BrigadierGeneral John Agim, who was non-committal on the position

of the military on the directive of the president that those who snatch ballot boxes on Election Day would pay with their lives, said DHQ "fully aligns itself" with the position of the Nigerian Army.

"The Army spokesman has issued a statement on that.

That statement covers our role in the election. I would not want to elaborate further," Agim said.

The army statement said: "Our rules of engagement and code of conduct have not assigned any political role to the Army in this regard. The Army's involvement starts and ends with the provision of a peaceful and secure environment for the conduct of 2019 general election.

"The Nigerian Army strongly believes that the citizens, like responsible media, have complementary constitutional roles to play, especially towards ensuring national security, information management, peace, and safety of Nigerians.

"The Army will continue to achieve and sustain constructive engagement, obedience to the rule of law and obedience to constituted authority at all time in the spirit of civil-military relations.’’

It maintained that the Chief of Army Staff, Lieutenant General Tukur Buratai, has consistently called on soldiers to uphold the tenets of military professionalism and be guided by the rules of engagement and the Constitution of Nigeria toward sustaining a responsive Army in the discharge of its constitutional roles.

The statement added: "Therefore, any insinuation or assertion against this open declaration is not only mischievous but politically motivated with the intent to tarnish the reputation of the Army, which has been built on discipline and obedience to civil authorities.

"The Army has made it sufficiently and consistently clear that none of its personnel will be involved in political campaigns, escort of VIPs for political missions and above all, aiding or supporting any political party as has been circulated in official circulars and statements."

Rights Abuse Will Be Prosecuted at ICC, Warns Ortom Meanwhile, the Benue State Governor, Dr. Samuel Ortom, while addressing journalists

Presidency Accuses PDP of Plotting to Rig Elections The Presidency yesterday replied the PDP in kind, accusing it of plotting its way to power through rigging.

Speaking through presidential spokesperson, Shehu Garba, it said the plot was the reason for scathing criticism of the president's directive that security agencies should deal ruthlessly with intending riggers.

According to him, the criticism of the president over the comment from the opposition party, called for concern, wondering why the party should worry over the fate of ballot box snatchers if it has no hidden agenda.

"This sounds like members of the opposition, specifically the Peoples Democratic Party, PDP who have perfected plans to rig the elections and to snatch ballot boxes. They can tell that President Buhari is not prepared to tolerate their antics this time around, and they are afraid. They have shown their intent,” he said.

Shehu who proceeded to reiterate Buhari's comment that anyone who attempts to snatch ballot boxes during next weekend's elections will pay with his life, described it as a strong message against long history of savagery associated with elections in Nigeria.

He said, "Snatching ballot boxes often entails putting the lives of innocent Nigerians at risk.

About 10 years ago, evidence was brought before an election tribunal from one of the states in North Central of the gruesome killing of 26 prospective voters by ballot box snatchers," he said.

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5 ) * 4 % ": t WEDNESDAY, FEBRUARY 20, 2019

5 ) * 4 % ": t WEDNESDAY, FEBRUARY 20, 2019

45

5 ) * 4 % ": t WEDNESDAY, FEBRUARY 20, 2019

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

COMMENT

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

TOWARDS REMAKING NIGERIA

Whatever the circumstances, Nigerians should vote wisely, writes Sonnie Ekwowusi

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guess by now it has dawned on all including the most unrepentant cynics that there are real concealed conspiracies to rig the 2019 elections especially the Presidential election. So gird your loin. You must brace up now to confront the monstrous tyrants charging at you and forcing you to surrender your soul. You must say No to them. You must tell them that your soul is more precious to you and therefore cannot be surrendered to tyrants. Those who cannot say No are cowards. They have killed our parents, siblings, town folks, uncles, aunts, relatives and friends. They have humiliated us. They have forcefully confiscated our farmlands. They have rendered our judiciary impotent. They have enslaved us; we are perpetual hewers of their wood. We are under the iron grips of their dictatorship.

Despite public outcry they are murdering our parents, siblings, town folks, uncles, aunts, relatives and friends. They have flung open our borders to enable their brothers - murderers from Mali, Niger, Libya and others to infiltrate Nigeria and cause mayhem.

They have forcibly abducted our girls. Leah Sharibu, daughter of Zion, voice of the voiceless, symbol of religious liberty is still missing. Has she been guillotined? Has she been forcibly given away in â&#x20AC;&#x153;marriageâ&#x20AC;??

What havenâ&#x20AC;&#x2122;t they done to us? They have robbed us of our humanity. Yet you continue to seek refuge in the cold comfort of your religious and tribal cleavages and cocoons as if they were safe harbours. Donâ&#x20AC;&#x2122;t you understand that there are no safe harbours anywhere? So get up from your passivity and act.

These are times that try menâ&#x20AC;&#x2122;s souls. No matter what they try to do next, you must not grow weary. Whether they choose to postpone the elections to 2020 or so, you must not surrender.

Beyond gossiping and grumbling ad nuaseam on Facebook and on WhatsApp platforms it is high time you stood up and be counted. Do the best you can no matter how small. Evil thrives when good men or armchair critics sit back and do nothing. I know you are praying for Nigeria. I know you are fasting that ruin may not overtake our fatherland. But God wants to use you as an instrument to bring about the much-desired change in Nigeria. In history God has always used several persons like you and I as his instruments to achieve his purpose on earth.

First, give up your wishful thinking. Begin by casting your vote on Saturday February 23 or any subsequent dates they want the elections to hold. Additionally, if you are endowed with oratorical

BEGIN BY CASTING YOUR VOTE ON SATURDAY FEBRUARY 23 OR ANY SUBSEQUENT DATES THEY WANT THE ELECTIONS TO HOLD

powers you must begin in earnest to talk truth to power. If you are a writer may your pen never run dry. If you are a candle lighter lit up the streets and alleyways with your candles. If you are a musician sing your melodious songs aloud to soothe the broken-hearted. What you and I cannot do is to stay aloof at this last hour.

If we have done the best we can and they still proceed to rig the 2019 elections we would instantly suspend all activities and troupe out en masse into the streets in peaceful demonstration.

Do not say, â&#x20AC;&#x153;I am APC, therefore I cannot join the peaceful demonstrationâ&#x20AC;?, or, â&#x20AC;&#x153;I am PDP, therefore I cannot join the peaceful demonstration,â&#x20AC;? or â&#x20AC;&#x153;I am a Muslim, therefore I disagree with youâ&#x20AC;? or, â&#x20AC;&#x153;I am a Christian and therefore I disagree with youâ&#x20AC;?.

Donâ&#x20AC;&#x2122;t deceive yourself into thinking that with the passage of time the killings and barbarism would abate. They will not.

Outsiders shudder that despite Nigeriaâ&#x20AC;&#x2122;s abundant human talents the country is ruled by functional illiterates and confusionists. Yesterday I ran into a young man in one of the busy streets of New York. Given his somewhat Nigerian accent I initially thought he was a Nigerian-American. But mid way in our conversation he simply introduced himself as an American.

This young American traces the Nigerian woes to the failure of political followership. I cannot agree less. As I have repeatedly re-echoed here, Nigerian political leadership crisis is engendered and foisted by the lingering political followership crisis. There is a correlation between political leadership and political followership. Political leadership is a co-efficient of political followership. In common parlance, it is said that a people get the kind of leaders they deserve, meaning that an irresponsible political followership begets an irresponsible political leadership.

Perhaps this explains why most outsiders blame Nigerians (not the political leaders) for the woes that have befallen the country.

The Nigerian people are the architects of their own failure.

Higher education seems not to be helping us. It is probably only in Nigeria that a man who calls himself a university Law Professor and a senior lawyer for that matter would be reasoning like an idiot. You will agree with me that it is high time the governed rediscovered who they are. They should assert their sovereignty in our constitutional democracy. This is the only way the crisis of political followership in which the people are currently enmeshed can be resolved in favour of the people.

RE: LAGOSIANS RONU Hakim Adisa argues that the writer is mischievous

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he above title should attract the attention of any well- meaning Yoruba man when juxtaposed in relation to the author of the original article for the following reasons. â&#x20AC;&#x2DC;Ronuâ&#x20AC;&#x2122; is a Yoruba language word that simply means think; secondly, the author of the article calling on Lagosians to think is Sonnie Ekwowusi, a thorough-bred Igbo man; thirdly, what would have really interested an Igbo man to deploy Yoruba word to convey his message this political season if not for an ulterior motive?

It would not be out of place to describe Ekwowusi as being creatively mischievous in his use of â&#x20AC;&#x2DC;ronuâ&#x20AC;&#x2122; and seeming intellectual misinterpretation of the word freedom and democracy hiding under a supposed statement issued by a faction of Afenifere, a Yoruba socio-cultural group.

Obviously, Ekwowusi is not in any way concerned about any worthy principle or ideals but obviously working for a paymaster that the contents of his article had easily divulged. And one of his paymasters is the Peoples Democratic Party (PDP) in Lagos State. It was the PDP that, ab initio, that started the sophistry of slavery/freedom and democracy in Lagos State. Shockingly, they erroneously felt the best way to garner the support of the people of Lagos is to insult them by saying they have been in political and economic bondage since 1999. Now, they missed the point because Lagosians are too sophisticated a people not to realise that they are not in bondage since the state remains one of the most free and tolerant states in the federation.

Ekwowusi made no pretension about his mission, which was to justify whatever might have exchanged between his paymasters when he went all out, befuddled the public with essentially the same jejune arguments that have become the hallmark of Jimi Agbaje, PDPâ&#x20AC;&#x2122;s governorship candidate. It may not

be out of place to conclude that Ekwowusi is obviously one of the antediluvian closet strategists for the Lagos PDP that is just coming to the fore.

The authorâ&#x20AC;&#x2122;s excuse for writing the piece was the statement by a faction of the pan-Yoruba socio-cultural organisation, Afenifere, on why it endorsed PDP presidential candidate Atiku Abubakar. In the statement, the faction said it rejected Buhari because of his sins against Chief Obafemi Awolowo and Pa Adekunle Ajasin. I laughed at this because Awolowoâ&#x20AC;&#x2122;s grand son-in-law, Prof Yemi Osinbajo, is Buhariâ&#x20AC;&#x2122;s running mate.

Also, Awolowoâ&#x20AC;&#x2122;s grand-son, Segun Awolowo, is playing a key role in this government in which he is in charge of export promotion.

Ajasinâ&#x20AC;&#x2122;s children, to the best of my knowledge, have political affinity to the APC, and not the PDP. For the author and his desperate Afenifere faction, this is simply crying more than the bereaved.

As expected, the author dragged APC National Leader Asiwaju Bola Ahmed Tinubu into his â&#x20AC;&#x2DC;roforofoâ&#x20AC;&#x2122; piece. Tinubuâ&#x20AC;&#x2122;s sin according to his jaundiced view â&#x20AC;&#x2DC;is that he is forcing Buhari on Lagosians.â&#x20AC;&#x2122; He is also accused of forcing Babajide Sanwo-Olu on the state. For me, the accusations are insulting to Lagosians who, I believe sincerely, have a discerning mind and can choose for themselves and they have been choosing for themselves since 1999.

It is just coincidental that their choice tallies with Tinubuâ&#x20AC;&#x2122;s. Stop feeding the weeds and starving the flowers.

Ekwuwosi also accused Tinubu of denying Lagosians the right to political association and freedom of political expression. The word â&#x20AC;&#x2DC;freedomâ&#x20AC;&#x2122;, which is Agbajeâ&#x20AC;&#x2122;s campaign slogan, appears to me to be the authorâ&#x20AC;&#x2122;s favourite word, hence my suspicion of his being, once again, a pointed closet strategist to the Lagos PDP governorship candidate. How on earth can Tinubu be accused of depriving the people of the right to association? Did he

force people to join APC? Did he deny PDP members the right to vote for their candidates? Just how did he curtail the freedom to choose?

But I console myself with the knowledge that during electioneering periods, not a few lose their soul for pots of porridge. They are just out for mudslinging. If you scratch these mudslingers, you will find out that the songs they are playing are not theirs. They are only mouthpieces of politicians, whose pecuniary interests are being affected by the objects of the attacks.

If there is something I was sure of and is still certain, it is the fact that the premises of the piece are faulty and jaundiced. I could not but cringe about the aspect concerning Governor Akinwunmi Ambode and his predecessor, Babatunde Fashola. It simply confirms the jaundiced nature of the article.

I am baffled that any lover of democracy will attempt to rubbish party supremacy, which is what has been at work in Lagos for decades. A political party should be able to determine who flies its flag. I wonder why anyone will have problem with the party deciding the fate of its members. Castigating Tinubu for allegedly entrenching a â&#x20AC;&#x2DC;personalised style of politicsâ&#x20AC;&#x2122; makes me wonder what the motive of the author was. You do not put people down for the fun of it.

I wonder what the authorâ&#x20AC;&#x2122;s definition of democrat is when he attempted unsuccessfully to rubbish Tinubuâ&#x20AC;&#x2122;s democratic credentials. He claimed that Tinubu arrogates to himself the power to determine the political fates of others. More laughable is the authorâ&#x20AC;&#x2122;s condemnation of Tinubuâ&#x20AC;&#x2122;s support for President Muhammadu Buhariâ&#x20AC;&#x2122;s re-election bid. The man has a right to his choice.

Let me educate the author a bit: The world over, including advanced democracies, incumbent presidents always enjoy right of first refusal. In the U.S., which all of us are quick to make reference to, incumbent

presidents are never challenged within their parties for presidential ticket. The author really needs to show us those who wanted to run in the APC and were blocked. Party members simply decided to honour the president by not running against him.

I must point out that Sanwo-Olu was not forced on APC members; if he was, all will not be quiet in Lagos. If party members were short-changed in the process, there would have been misgivings. There is nothing of such. All have queued behind Sanwo-Olu because he was their choice. Please, permit me to tell this author that it is curious he chose to rubbish the gains that have been recorded in Lagos since the return to democracy. It will be uncharitable to divorce the governance in Lagos from its being the fifth largest economy in Africa with a GDP of $136 billion. While I will not say all Lagosians are doing well, I must point out that there is inequality all over the world, including the U.S. and the United Kingdom.

Lagos has tried and is still trying to reduce the inequality gap. The Lagos State Employment Trust Fund and other schemes are ways through which the government has made available grants and loans to ordinary folks to build their businesses. If the author lives in Lagos, he should be aware of this, except mischief is his other name. ust add that if the author is expecting a repeat of the scenario which saw the late Michael Otedola of the defunct National Republican Party (NRC) becoming Lagos State governor, I am sure he will wait till eternity.

It appears that the author is anxiously waiting for Agbaje to take over. It appears to me that the likes of the author of the piece under reference are simply attempting to consecrate Tinubu by giving him powers he does not have. Those who know him and are following him are doing so because of qualities they have not been able to find in others who lay claim to political leadership.

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T H I S D AY WEDNESDAY, FEBRUARY 20, 2019

EDITORIAL Police And The Waste Of Manpower The authorities should stop wasting police officers trained at great expense

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t has become fairly routine in the Nigeria Police Force to retire senior officers immediately an acting Inspector-General of Police (IGP) is appointed. Mostly endangered are officers in the ranks of Assistant Inspector-General (AIG) and Deputy Inspector-General (DIG) of Police. While we understand the reason for this high turnover at the helm, it is antithetical to morale.

That many of the officers in senior cadre now resign to the fact that diligence and merit are not enough to take them to the peak of their professional career is also detrimental to an institution charged with the maintenance of law and order in our country.

This unfortunate situation was highlighted with the recent retirement in one swoop of seven DIGs by the new acting IGP, Mr Mohammed Adamu.

The seven were among the 15 senior officers affected by the exercise on grounds of seniority to Adamu. Not only is IT IS ALL THE MORE this number quite UNFORTUNATE high, it is also a wasteful tradition THAT SOME OF that does not take THE RETIREMENTS into account the ARE POLITICALLY huge resources the MOTIVATED, DONE nation had spent TO SERVE NARROW in training these INTERESTS officers over a long period.

Indeed, one of the largest retirements of senior police officers occurred under Adamu’s predecessor, Ibrahim Idris. Elevated from his position as Kano State police commissioner after the 2015 general election, Idris had barely spent a few weeks in office as an Assistant Inspector-General of Police (AIG) when he was appointed the IGP. That compelled the presidency to retire more than 30 officers from the rank of AIG and DIG all at once. Aside other

negative fall-out, the idea deprives the force of the benefits of competent and experienced hands to spearhead and give direction to the junior officers.

No institution can afford to be throwing away such vast knowledge without consequences. In many instances, most of those affected still have between seven and 10 active years in the service.

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

he implications for national security are very glaring. When otherwise brilliant officers are made to believe that their career progression will not be based on performance but rather on politics, there is no way they will give their best. This practice is also counter-productive in many ways, especially as it can breed bad blood within the rank and file. We therefore implore the Police Service Commission and the federal authorities to curb the practice and find a way around the depletion of an already badly understaffed security agency. It is all the more unfortunate that some of the retirements are politically motivated, done to serve narrow interests in an institution that should strictly be guided by professional and national interest.

This development is all the more disturbing against the background that manpower has always been a problem with the police. According to the former IGP Idris, the Force loses 9,028 officers to death, dismissal and retirement annually.

While it is within the powers of the president to appoint an Inspector-General of Police from the senior cadre, it is important that there be a way to mitigate this recurrence of retiring top officers trained at public expense because of the elevation of their junior to the number one position in the force. What should be clear to the authorities is that it will be difficult to have a professional police if appointments and promotions are dictated by political considerations while security of tenure is no longer guaranteed. There must be a way to put an end to the practice.

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A TALE OF THREE GOVERNORS

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efinement of the mind and aptitude to make informed decisions and ability of objective and rational judgement, like most practical skills, come with the ageing process if one is continuously exposed to logic. This is the reason why I agree with the judgement of the former governor of Cross River State, Donald Duke, that truncating the presidential and national assembly polls of Saturday 16th February 2019 would surely put a great strain on the lean finances of the opposition, especially knowing that the sitting government could so easily tap into the national fund reserves to bankroll an extended campaign. Shall we add also that menacing the opposition and boxing it into a corner in order to manipulate outcomes of polls is a feature of Third World democracy? Over there at Kaduna State, Gov. Nasir el-Rufai, forever the obstinate one who rue making apologies for his careful talks and gaffes was glad to tell one of the meanest lies of this election season detailing how tens of Fulani tribesmen were killed at Adara Chiefdom. For this governor, the twin items of consciousness detailing the tribe of Adara and the idea of mort should bother him really.

This is in addition to threatening to send foreign election observers back home in body bags.

Basically, this governor, who is generally regarded as the intellectual in the inner circle surrounding President Muhammadu Buhari, is one bogeyman

who has just primed the Fulanis to attack Adara Chiefdom in order that elections would not hold there and we would not be far off the mark if we add that there was a ploy to garner national sympathetic Fulani votes for his principal. That ploy would surely be blunted because Candidate Atiku Abubakar also appeals to the Fulani voting bloc because he has promised to truthfully encourage sedentary animal husbandry. Over here in Niger State, the one who should sit down with Gen. Abdulsalami Abubakar (rtd.) and sign a peace pact is the governor who incidentally is the son-in-law of Gen. Abubakar. This young man, Abubakar Sani Bello, with the feminine nickname of “Abu Lolo,” gets pelted with myriad objects wherever he goes on his campaign stump because folks consider him a total failure in the art of public administration.

How does the governor take this public shaming?

Somehow, Abu Lolo is able to pull some judicial strings such that his opponent in the forthcoming gubernatorial polls is perpetually in court to repeatedly answer to charges for which he has secured bail. It is no secret here that Abu Lolo’s only hope of winning at the polls is to incarcerate Umar Gado Nasko plus the Niger State Chairman of the Peoples Democratic Party whilst throwing former Gov. Mu’azu Babangida Aliyu into the mix too.

Sunday Adole Jonah, Department of Physics, Federal University of Technology, Minna, Niger State

INEC: IS THERE ANY INTEGRITY LEFT?

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ill an election conducted under the cumulus of suspicion, doubt and allegations against the umpire of the exercise be accepted by most Nigerians?

Do Nigerians still believe in the integrity of INEC? Is the commission still that fearless, dispassionate and impartial arbiter we have known it to be since 2011? I cannot answer these questions for any Nigerian, but for myself. I think INEC’s integrity is still intact.

But right now, the biggest issue in this election is the credibility perception of the commission.

Before Professor Attahiru Jega, immediate past INEC chairman, the electoral body was accorded the “credibility of a fraudster”. But Jega changed all that.

He brought some appearance of integrity into the institution, and won trust as well as a verisimilitude of affection for the commission.

Jega left INEC with a surplus of trust, having conducted an election in which a sitting president was defeated, and adjudged free, fair and credible by most Nigerians and international organisations.

But this “trust” appears threatened going by the avalanche of sour allegations against the commission.

Both the PDP and the APC have accused INEC of compromise. In fact, Adams Oshiomhole, APC national chairman, publicly accused the electoral body of leaking information to the PDP; I can as well say, of working for the opposition.

Also, President Buhari’s cathartic expression of frustration at the APC caucus meeting, where he decreed death for ballot-box snatchers, clearly betrays his lack of faith in the electoral process. On WhatsApp, there is a barrage of conspiracy articles on how either of the two parties has compromised INEC. And the PDP is alleging that the commission is working with the APC because one of its contractors is a member of the governing party, and a senatorial candidate in Niger state.

What does this portend for the outcome of the election? So, who has compromised INEC? The PDP or the APC? Really, trust is an essential element a critical institution like INEC must not gamble with.

The abrupt postponement of the general election was the commission playing poker with citizens’ trust.

These allegations may be untrue. I believe they are. But INEC set itself up for this circus.

It must manage the perception that it has been compromised, and this it must do by ensuring that Saturday’s election is free, fair and credible , and seen to be so. Perception matters.

However, I understand that, beyond the excuse of logistics, INEC is grappling with some internal problems, which may also encumber the election. It will be the undoing of the leadership of the commission if it springs up another ‘hot season surprise’.

INEC must get it right it. It must not go below the bar Jega set; it must seek to go above it.

Fredrick Nwabufo,fredricknwabufo@yahoo.com

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5 ) * 4 % ": t WEDNESDAY, FEBRUARY 20, 2019

5 ) * 4 % ": t WEDNESDAY, FEBRUARY 20, 2019

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T H I S D AY ˾ WEDNESDAY FEBRUARY 20, 2019

MIDWEEKPOLITICS

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

A N A LY S I S Understanding the Elections Postponement Conundrum Ojo Maduekwe writes that there may be more than meets the eye with the postponement of the 2019 elections by the Independent National Electoral Commission

Buhari

F

ollowing repeated denials that it was planning on postponing the 2019 elections, the Independent National Electoral Commission (INEC) did a volte face early Saturday morning, on the day of the presidential and national assembly elections, to postpone the elections.

In a press briefing early hours of Saturday February 16, the INEC chairman, Prof. Mahmood Yakubu, said it was no longer feasible to “Conduct free, fair and credible elections,” after a careful review of the implementation of the logistics of its (INEC’s) operational plan.

The presidential and national assembly elections were then moved upwards by one week and will now hold on February 23, while that of the governorship, house of assembly and FCT that were slated for March 2, were also moved upwards by one weekweek and would now hold on March 9.

As would be expected, this decision generated widespread uproar, condemnation and another round of speculation that INEC was working in cohort with the ruling All Progressives Congress (APC) to rig the election in favour of President Muhammadu Buhari.

The voters, main opposition Peoples Democratic Party (PDP) and theatre other political parties all complained and alleged the APC was out to rig.

From condemnation came calls for Mr Yakubu’s resignation or sack by several Nigerians, including one by the national chairman of the PDP, Uche Secondus, in a statement by his media aide Ike Abonyi, shortly after the elections were postponed by INEC. In the statement, Mr Secondus alleged that the postponement was APCs joker to disrupt the 2019 elections, since its other grand designs, “Including but not limited to burning down INEC offices in some states and destroying of electoral materials to create artificial problems upon which to stand for their dubious act”, were unsuccessful.

The condemnation that followed was understandable, owing to the fact that many of those that were to vote and whose polling units were in different states had taken time off work to enable them travel; some even had to travel down to Nigeria to take part in the exercise.

Because of this postponement and the financial implications for those affected by it, there are fears that this would cause voter apathy and discourage people from voting on the rescheduled dates.

Yakubu

Sympathetic as this can be, different reports on why INEC took the decision, paints a picture of a commission that may have been caught in a web, with the postponement being its only way out.

About two weeks prior to the elections on Saturday, the commission had been a victim of several fire sabotage in the states of Abia, Plateau and Anambra that destroyed materials meant for the elections.

In Abia, at the Isiala Ngwa South Local Government Area of the state, hundreds of PVCs were burnt, while in Qu’an Pan Local Government Area of Plateau state the commission’s entire office was razed with all the election materials destroyed. In its office in Awka, Anambra state, a fire incident destroyed over 4,600 Smart Card Readers.

While the burnt PVCs in Abia were reprinted “In time to ensure that the affected voters are not disenfranchised”, ballot boxes, voters register, voters cubicles and electricity generating sets burnt in the Plateau fire have been “since replaced”, but the Smart Card Readers destroyed in the Anambra fire “take at least six months to procure”.

The condemnation that followed was understandable, owing to the fact that many of those that were to vote and whose polling units were in different states had taken time off work to enable them travel; some even had to travel down to Nigeria to take part in the exercise

Abubakar

Also, the day of the presidential and national assembly election, there were news report of the burning of buses conveying election materials and personnel in Akwa Ibom state that killed two people. The report said some of the drivers were also wounded with machetes.

Nigerians are now finding out after the postponement that there were also internal sabotage that may have been orchestrated by some of INECs high ranking management staff, including commissioners, some of whom it is being alleged are working for the ruling APC and were bribed by the presidency to ensure Buhari’s re-election.

For example, the Katsina Resident Electoral Commissioner, Ibrahim Zarewa, admitted there was a mix up in the materials sent to the state, alleging that materials of Kano and FCT were sent to Katsina.

Feelers have it that the Mr Yakubu was under pressure by the APC and presidency to ‘play ball’ and since he refused was why commissioners and security agencies said to be sympathetic to the APC cause worked against him to create a semblance of incompetence on his part so as to push for his replacement with a more compliant chairman.

Lawyer, poet and lead attorney of the #EndSARS campaign, Abdul Mahmud in a Twitter thread, asked why the armed forces and air force were not in charge of distribution of election materials for the 2019 elections, as happened in five “decisive elections” held in 1979, 1983, 1993, 1999 and 2015.

According to Mr Mahmud, the armed forces and air force were neutral in the five elections. “Why is 2019 different?” he asked.

Also criticising customs role in the sabotage, Mr Mahmud said, “One day the truth will be told of how the Customs seized INEC materials, threw up all sorts of quandary that undermined INEC planning and logistics chain, and left it with no good turnaround time”.

Critics of the government allege that President Buhari and the APC, since realising they were likely going to lose the presidential election had devised means to rigging it. From the scenario that has played out so far, the allegations appear to have some merit to them.

However, these allegations do not seem to hold water given the vitality of condemnation of the election postponement which came from President Buhari. He said, “I am deeply disappointed that despite the long notice

given and our preparations both locally and internationally, the Independent National Electoral Commission (INEC) postponed the Presidential and National Assembly elections within hours of its commencement. Many Nigerians have traveled to various locations to exercise their right to vote, and international observers are gathered. INEC themselves have given assurances, day after day and almost hour after hour that they are in complete readiness for the elections. We and all our citizens believed them.”

Even more instructive was the part of the President’s statement assuring the electoral umpire’s independence.

According to him, “This administration has ensured that we do not interfere in any way with the work of INEC except to ensure that all funds were released to the commission. While I reaffirm my strong commitment to the independence, neutrality of the electoral umpire and the sanctity of the electoral process and ballot, I urge all political stakeholders and Nigerians to continue to rally round INEC at this trying national moment in our democratic journey.”

Buhari also addressed the concern of stakeholders, of which he is one as the incumbent president, seeking reelection. Not a few have expressed fears that the Saturday elections may have been compromised because materials earlier distributed may have been received by unauthorised persons. This has set the stage for rejection of the election results by the losers. The way things are the PDP has prepared the mind of many Nigerians to think that only its candidates, particularly, presidential candidate must win, failing then it must that he was he rigged out by the APC. It was reassuring to hear the President , “urge INEC to ensure not only that materials already distributed are safe and do not get into wrong hands, but that everything is done to avoid the lapses that resulted in this unfortunate postponement, and ensure a free and fair election on the rescheduled dates.”

While the APC and PDP have been trading accusation and counter accussation, alleging sinister motives to upstage the electoral process in their favour, many Nigerians are determined to follow the process to its logical end and ensure that their vote count.

Hopefully, with the one week rescheduling, INEC can get its act together and go on to deliver free, fair, credible and peaceful elections as promised on countless occasions.

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T H I S D AY ˾WEDNESDAY FEBRUARY 20, 2019

STATE OF THE POLITY

The Epic Battle for Lagos Segun James writes that the fight for office of Chief Executive of Lagos State is a strong push by the opposition, including those in his own party, the All Progressives Congress to dismantle the towering presence of Senator Bola Ahmed Tinubu

Sanwo-Olu

Agbaje

Gbadamosi

Salis

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He was the treasurer at former Lead Merchant Bank from 1994 to 1997 after which he moved to the United Bank for Africa as the head of foreign money market. He then proceeded to First Inland Bank, Plc (now First City Monument Bank) as a deputy general manager and divisional head. He was the chairman of Baywatch Group Limited and First Class Group Limited. He is a board member of the Department for International Development (DFID/DEEPEN) Fund and Audit Committee of Caverton Offshore Services Group, Plc. Sanwo-Olu began his political career in 2003, when he was appointed a Special Adviser on Corporate Matters to the then deputy governor of Lagos State, Femi Pedro. He was later made the acting Commissioner for Economic Planning and Budget until 2007, when he was made the Commissioner for Commerce and Industry by then Governor, Bola Tinubu. After the General Elections of 2007, Babajide Olusola Sanwo-Olu was appointed Commissioner for Establishments, Training and Pensions by Governor Babatunde Fashola.

Governor Akimwummi Ambode appointed him the made Managing Director/CEO of the Lagos State Development and Property Corporation (LSDPC) in 2016.

Pharmacists (NAGPP) from 1987 – 1990; National Chairman NAGPP (1990 – 1993) and Chairman Pharmaceutical society of Nigeria Lagos State (1994 – 1997). Jimi Agbaje also sits on the Board of other organizations including Oakwood Park Ltd, Atlantic Hall Secondary School Epe, Jimi Agbaje Outreach (a project dedicated to helping the less fortunate) and has served as business mentor at Fate Foundation.

Based on his affiliation withAfenifere, JimiAgbaje joined the Action Congress (AC) - his first political party. In 2007, Agbaje who had initially aspired to contest for the Governor of Lagos State on the platform of the Action Congress (AC) left the party to join the Democratic People’s Alliance (DPA).

He was among the 11 aspirants that turned their back on the Action Congress (AC) when it was alleged that Governor Bola Tinubu had already anointed someone else to succeed him even before the party primaries.

Widely believed to have conducted the best campaign in 2007, Agbaje contested in the gubernatorial election on the Democratic People’s Alliance (DPA) platform, but eventually, alongside other major contenders - Musiliu Obanikoro of PDP, Femi Pedro of Labour Party (Nigeria) - lost to Babatunde Raji Fashola of theAction Congress (AC).

He left DPAin 2011 and went on to join the ruling party, the PDP following the de-registration of DPA by the Independent National Electoral Commission (INEC). On October 29, 2014, he officially indicated his interest in giving the Lagos State gubernatorial elections another shot by picking up the PDP nomination form. On 8 December 2014, he emerged as the candidate of the PDP for the 2015 Lagos State gubernatorial election, having defeated Musiliu Obanikoro in the primary.

of Public Relations (CPA); American Institute of Certified Public Accountant (AICPA), New York State Bar 2002 USA and National Association of Security Dealers (NASD) now FINRA. He is a member,American Branch of International Law Association, ILA; Member, New York State and New York County Bar Associations; Member, United States Chamber of Commerce; Member, American Civil Liberties Union (ACLU); Member, Amnesty International; and Member, Nigerian American Chamber of Commerce. Salis has had over 30 years of practice in both Law and Accounting fields.

rdinarily, it should have been safe to conclude that the race for the Government House atAlausa, Lagos is between Mr. Jide Sanwo-Olu and others, with the odds favoring the All Progressives Congress (APC) candidate.

Unfortunately, one cannot come to this conclusion because for the first time in 20 years, there is formidable opposition to the continued political dominance of Lagos by the national leader of the APC, Asiwaju Bola Tinubu. The offensive against Tinubu is from both within theAPC fold and outside.

Tinubu himself must have been surprised that some APC members dared to hold a parallel congress in Lagos and have since refused to be reconciled, while establishing a separate executive. Clearly, the fight for office of Chief Executive of Lagos State is about Tinubu. Will the opposition, including those in his own party succeed in dismantling his towering presence? Or will the Jagaban’s image continue to loom large!

Yet the odds favours Sanwo-Olu but there are many hurdles that he must scale to get to the Government House. One of his biggest obstacle may be the incumbent, Mr. Akinwunmi Ambode who was denied a second chance and the surprising run of the main opposition party, the Peoples Democratic Party (PDP). Though many think the party’s candidate, Mr. Jimi Agbaje had his brightest opportunity in the 2015 election when he was also the PDP governorship candidate for Lagos State.

This time, Agbaje is campaigning on the premise that Lagos has been under the control of one man for too long. Therefore, his battlecry is ‘ freedom’.

Many expect the race to be a game changer because whosoever emerges as the governor of the fifth largest economy inAfrica will be inheriting a fractious political system.

The man will also have the Herculean task of convincing Lagosians that he will be ‘an action’ governor like his predecessors, except Ambode.

Although the field is strewn with 47 candidates, only two have any chance of clinching the crown.

There are two others on the sides, any of whom can benefit in the event that the front contenders become engulfed in a self-destructing crisis, as has happened in the past.

The front runners are Sanwo-Olu and Agbaje of the APC and PDP respectively while the two on the side are Chief Owolabi Salis of the Alliance for Democracy (AD) and Mr. Babatunde Gbadamosi of the Action Democratic Party (ADP).

Babajide Sanwo-Olu Babajide Olusola Sanwo-Olu (born June 25, 1965) won the gubernatorial primaries of the APC against incumbent governor, Akinwunmi Ambode of Lagos State in October 2018. He is a graduate of the University of Lagos, as well as the London Business School, Lagos Business School and the John F. Kennedy School of Government.

Prior to his gubernatorial ambition, he was the Managing Director/CEO of Lagos State Property Development Commission (LSPDC).

Sanwo-Olu has a BSc in Surveying and an MBA from the University of Lagos. He is an associate member of the Chartered Institute of Personnel Management (CIPM) and Fellow of the Nigeria Institute of Training and Development (NITAD).

Strenght Sanwoolu has the support of the APC national leader, Tinubu. Ordinarily, this is all the support he requires to be the governor of Lagos. Like Governors Raji Fashola and Ambode before him, he is largely.

But once presented to the party leaders by Tinubu, he was accepted as their own. Overtime, Tinubu has shown that he has an uncanny ability to see the talent in others.

Although he emerged from a fractious primaries, he has since got the support of the party leaders who worked against the reemergence of Ambode.

Weakness In the political landscape of Lagos, Sanwo-Olu was the last on the list of possible candidates for the governor of Lagos state, he was not only unknown, he never had any ambition to contest for the position.

Since his emergence, he has had many opposition, prominent being the incumbent governor,Ambode who is one of the many aggrieved party members.

Others include Mr. Fouad Oki, the former director general of all governorship campaign organisations in the state. These persons and their supporters are expected to work against his candidature. But Ambode has since demonstrated at different fora that he will stick with the decision of the party and take his loss in good faith.

Olujimi Agbaje Olujimi Kolawole Agbaje was born March 2, 1957. He is a Pharmacist and was the 2015 PDP’s Lagos State Governorship candidate. He lost to Governor Akinwunmi Ambode.

In 1982, Jimi Agbaje founded his own company, Jaykay Pharmaceutical and Chemical Company Limitedandwas ManagingDirectoruntil2005when he decided to venture into politics. Aconsummate professional, he was a member of the Pharmacists Council of Nigeria (1999 – 2006); National Secretary of the Nigerian Association of General Practice

Strength As it was in 2014/15, so it is in 2019. Like 2015, he is posing a strong and formidable opposition to the APC in Lagos state. Agbaje has warmed his way to the hearts of the non-Yoruba speaking residents of Lagos, especially the Igbo who constitute about 30 percent of the voting population in the state.

To the APC, Agbaje remains the only obstacle to its continued stranglehold on the state.

Weakness Unlike 2015, Agbaje does not have the support of the party at the centre, a situation which has made it more difficult for him to carry along the political leadership in the state.

Without the full support of many PDP leaders in the state like Chief Bode George, Senator Adeseye Ogunlewe and others, he has been going it all alone.

Owolabi Salis Salis who holds a B.Sc in Accounting from the Ahmadu Bello University, M.Sc Accounting from the University of Lagos, Nigeria; LL.B from the University of Lagos. He is a Barrister at Law (B.L) and a New York City based attorney.

The Alliance for Democracy governorship candidate in Lagos State also parades numerous professional qualifications such as FCA, Institute of Chartered Accountants of Nigeria (ICAN); ACIB, Chartered Institute of Bankers of Nigeria, CIBN (Fellow graded); ANIPR, Associate, Nigerian Institute

Strength Salis is an old warhorse. He has always contested the governorship in the state with the doggedness of a fighter even when he knows that his chances of winning were slim.

A philanthropist, Salis has had the support of the party which has continued to field him each time as its candidate.

Weakness The AD is more or less a dead party in Lagos.

Although the first governor of the state in 1999, Tinubu emerged from the party, but the party died naturally when he moved out to form the Action Congress in 2003. But members like Salis have refused to abandon the party.

Because what is happening in the party remains a one-man show, Salis is the chairman, leader and sole financier of the party. He dictates the direction the party will go. Salis has less than five percent chance of winning the governorship.

Babatunde Gbadamosi Real Estate Developer and Lagos Governorship Candidate of the Action Democratic Party (ADP), Babatunde Gbadamosi, is a man who has twice contested for the governorship of the state.

Although little is known about him, he is reputed to be very honest and truthful. At the Lagos governorship debate among the leading candidates, he was the revelation, constantly applauded by audience members for the brilliance with which he espoused his policies for Lagos. He gave the factual analysis of events in the state.

Strength As an unknown personality, Gbadamosi could be the surprise in the park. His fact-based manifesto was adjudged the best among all candidates jostling for the position.

Weakness Like his strength, Gbadamosi’s weakness is that he is largely unknown. He belongs to a new party that is not known to the people; and one that has not been able to fly. He has less than one percent chance of winning the governorship, yet he remains the number three favourite to win the race.

As the battle for Lagos races to its crescendo, the margin of victory in an election can sometimes be measured in inches. Therefore, of the leading contenders do not manage their weaknesses well, there is a small window of opportunity for an upset in the election for the governorship of Lagos state.

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FEATURES

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

Combating Food Challenges in Katsina Francis Sardauna writes that the efforts made by Governor Aminu Masari in revitalising the abandoned agricultural products in Katsina State would revamp the sector and boost food production

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ne of the major challenges that Nigeria is currently facing as a nation is its inability to feed itâ&#x20AC;&#x2122;s teeming population. This is in spite of its vast arable land for agriculture and conducive weather all seasons. Indeed, it is a paradox that countries that rarely have rains and those in complete deserts regions have somehow managed to conquer hunger by taking advantage of technology while Nigeria is still struggling in spite of its comparative advantages in this area.

Rarely will anyone doubt the popular assertion that a well fed nation breeds a healthy populace.

Letâ&#x20AC;&#x2122;s face it, Nigeria is rich and blessed. Aside the good weather and arable farmland, the country is equally rich in human resources. The challenge of hunger amid immense opportunities in the agricultural sector in a country like Nigeria, makes it difficult to ignore any leader that takes the bull by the horn by prioritising agriculture with the aim of making positive impacts both on the people and the country at large.

This is why the efforts of the Katsina state Governor Aminu Bello Masari particularly in the agricultural sector cannot be ignored. What the state has achieved in the last three and half years under the leadership of Masari should be a lesson for any leader that is desirous of multiplying the income base of his state.

From the outset, the governor declared a state of emergency in the agricultural sector, targeting food sufficiency, welfare of the people, export and economic development of the state. With prevailing high cost of living, this couldnâ&#x20AC;&#x2122;t have come at a better time even as pervasive poverty and hunger ravage the country where most Nigerians hardly acquire three square meals per day.

The governor took advantage of its rural communities that are largely agrarian, relying on subsistent agriculture, harnessing their enormous potentials for commercial and mechanised farming in cash crops like plantain, maize, rice, tomatoes and cucumber as well as animal production, poultry and fish farming.

When Masari was sworn in as the governor of the state in 2015, he made certain promises.

Specifically, he believes the state is blessed with abundant natural resources, fertile and good climate that can make it possible for it to produce sufficient food to feed its teeming population and provide a sustainable raw materials base for her burgeoning industries.

Fortunately, Katsina State is blessed with arable land and favourable climate that supports all-yearround cultivation and extraction of agricultural and forest products such as palm produce, rice, cassava, yam, plantain, banana, maize, and timber.

In the last three years, the groundwork for the state agricultural revolution was laid via the strategic recommendations of the Restoration Agenda Committee on Agriculture, containing a workable blueprint for over 104 strategic projects that include agricultural development plan.

Being a visionary leader, the governor embarked on expansion of critical support infrastructure through the construction of 15 earth dams across the state. The gesture has improved water supply and conservation for domestic consumption and irrigation farming.

This noble effort has been largely complemented with the expansion of 15,000-hectare coverage of irrigation farming through the provision of local wells, wash bores and irrigation canals to support 3,500 irrigation farmers in communities of Jibia, Kafur, Kaita, Kwanar Are, Sandamu, Faskari, Mai'adua, Kankara, Malumfashi, Masari, among others too numerous to mention.

Within the period under review, the administration of Masari has also constructed five new irrigation schemes, namely Tsanni, Gwaigaye, Takatsaba, Masibil and Tsabu irrigation schemes. To enhance modern system of farming in the state, the Masari-led government also facilitated the installation of 34 renewable energy based farm power solution for rural farm and agro-allied enterprises in the 34 local government areas of the state.

Before the coming on board of Masari's administration, access to subsidised fertilisers, income losses or poor storage facilities among other numerous predicaments have continued to discourage agricultural investors to invest in the state.

Tractors purchased by the State Government

The deputy governor, commissioner for agric and other government oďŹ&#x192;cials ďŹ&#x201A;agging oďŹ&#x20AC; the distribution of tractors to farmers However, within the last three and half years, the state experienced significant changes following the annual procurement of fertilisers to farmers at subsidized rate, animals' parasite control vaccination, provision of improved seeds to both dry and wet season farmers, pumb, chemicals and other farming tools to 3,000 farmers.

To tackle the problem of income losses and poor storage facilities or techniques, the administration has successfully implemented the construction of 350 Standardised Cooperative and Community Managed Bulk Granaries (SCCGB) to assuage the plight of low scale farm operators in 10 villages for each of the 34 local governments of the state.

The perennial predicament of grazing and the challenges its imposes in relation to violent eruptions in some parts of the state during the last administration of Ibrahim Shehu Schema, has been addressed by Masari administration.

Accordingly, the administration in synergy with neighboring state governments and Niger Republic embarked on the demarcation of farmers/herders routes and rehabilitated the old grazing reserves as wells as nomadic educational centres in the state.

Because of his doggedness to further improve the agricultural sector, Masari gives priority to improve service delivery and the entire agricultural value change thereby embarking on massive rehabilitation of conventional grain stores in Katsina, Dutsinma, Daura, Funtua and Malumfashi, most of them are 85 per cent completion.

Masari administration also developed 2,100 hectares of land for rice farming in more than 21 LGAs; registered 48,000 rice farmers for the CBN anchor borrowersâ&#x20AC;&#x2122; scheme and trained 450

youths on different agricultural products.

The state has gone further to train farmers and youths on pruning/shade management, under brushing, and tree care by fumigation, in order to ensure the improved yields from 300 kg/hectare to 2, 000kg/hectare.

In addition, the state has distributed 500,000 improved maize and rice seedlings to farmers at a highly subsidised rate across the 29 maize and rice producing local government areas in the state.

This is aside the free distribution of improved corn seedlings to farmers. In addition to this, the state has invested in the construction of cattle ranch, cultivated over 1,200 hectares of rice farmlands.

Knowing the importance of the use of modern technology and equipment in the 21st century farming, the state has purchased and repaired more than 200 tractors to enhance farming activities in the state. According to available records, the state has so far procured 600,000 bags of fertiliser for farmers in the state.

It doesnâ&#x20AC;&#x2122;t take rocket science for any smart leader to make positive impacts on the people.

All it takes is to understand the problem, identify workable solution and be committed to solving the problem. If any leader is doing the right thing, it will perforate to the populace in no time.

The government is also encouraging the establishment of demonstration plots on various agricultural technologies for transfer of improved technologies to farmers through the Kataina state Agricultural Development Programme.

There is hardly any area in the agricultural sector that the state is not focusing on and there is also hardly any local government area that is

not being touched. That is also a demonstration of commitment to even development across the state.

Diverse crops are now cultivated in different places in Katsina State today ranging from rice, cassava, maize and other numerous. The lesson from all of these is that a lot can be accomplished when there is a will and commitment to making a difference in any particular sector by any leader.

The governor has not left anyone in doubt of his commitment to making good his promise of transforming the economy of Katsina State via industrialisation and sustained public-private sector initiative thereby opening up opportunities for growth and improved living standards.

Looking back these last three and half years, he has achieved what he promised especially in the agricultural sector. Masari has taken a bold step to secure the future of Katsina State through agriculture in the event that oil ceases to yield as much revenue as it does today.

Through his policy in agriculture, his administration is creating food security, industrial hubs and massive job opportunities for the people of Katsina state. The state is being transformed from one that is heavily dependent on federal allocations to one that generates revenue and earns foreign exchange through agriculture.

From all indications, Katsina state as a whole has benefitted from Masari's decision to invest in the agricultural sector. The state is attracting foreign investors and the fact that the government is encouraging public private partnership shows that the governor stands what it takes to run a modern economy, hence the need for the people of Katsina state to re-elect him.

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FEATURES

Promoting Yoruba Culture in the Diaspora For the sole reason of promoting the Yoruba culture in the Diaspora, the Oâ&#x20AC;&#x2122;odua Progressive Union was formed. Recently, the union held its fifth world congress in Ondo State, where it pushed for restructuring and socio-economic roadmap for the future, Ayodeji Ake writes

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or five days recently, Akure, the capital of Ondo State was agog.

Hundreds of people literally invaded the city from all parts of the world, as the Oodua Progressive Union (OPU) held her fifth World Congress in the community. The group, which comprises Yoruba men and women in the disapora, currently exists in about 84 countries across all continents.

It was not surprising therefore at the world congress when over 1000 delegates from different countries participated at the meeting, even as some members of the Oodua Peoples Congress (OPC) also converged on the venue to show solidarity with the OPU members.

Founded by Aare Onakakanfo of Yorubaland, Iba Gani Abiodun Adams to promote the values of Yorubaland outside the shores of the country, the OPU congress commenced with a courtesy call on the Deji of Akure, Oba Aladetoyinbo Ogunlade. The Convener of the OPU, Iba Gani Adams led the large entourage comprising hundreds of members of the OPU and OPC to the palace of the first-class monarch.

He told the monarch that it was an annual tradition for members of the OPU to visit royal fathers for royal blessings during their congress. He explained that the intention of the group of Yoruba sons and daughters in the Diaspora was promote the cultural identity of Yoruba race and help develop a socio-economic roadmap for the future.

Recalling the first world congress of the OPU that was held in Ikeja in 2015 he said the Ooni of Ife, Oba Adeyeye Ogunwusi was the host in Ile Ife in 2016; Alaafin of Oyo, Oba Lamidi Adeyemi was the host in Oyo in 2017; Alake of Egbaland, Oba Aremu Gbadebo was the host in Abeokuta in 2018, adding that this year, they are in Ondo State, his own state with the Kabiyesi, as the royal host.

In his response, Oba Ogunlade said the visit was timely and informative, adding that the group had a prominent role to play in making Nigeria great. This is just as he charged the OPU members to be good ambassadors of the Yoruba race in their respective abodes.

The group later visited historical places within the palace.The public lecture was subsequently held at Jojein Hotels and Resort, Akure. A number of dignitaries were in attendance, including Oba Ogunlade; the guest speaker, Evangelist Adesanya Haastrup; North American coordinator and Chairman, Planning Committee Shola Agboola; Zaki of Arigidi-Akoko, Oba Yisa Olanipekun; Oosula Erusu Akoko, Oba Sunday Mogaji; Oluyani Iyani Akoko, Oba Joel Sunday Daodu; Akapinsa of Ipinsa, Oba Dr. Omoniyi Olufunmilayo JP; Olu of Ipo, Ayeka Okitipupa; Oba Oyewole Oluwasegun; Waheed Oyediran, Dr.Kashimana Tyorenda, Chief Mrs. Christiana Bamishile, Dr. Adeyanju, Hon. Bola Bamigbola and many others.

While welcoming the guests, Aare Adams explained what the group was all about. According to him, OPU is a social and economic organisation, comprising prominent Yoruba indigenes in the Diaspora. Charging the group to continue to be good ambassadors of their race he said: â&#x20AC;&#x153;We are a self-dependent organisation formed in 2011, and our objective is to promote our cultural identity and foster unity among the Yoruba race. â&#x20AC;&#x153;Since its inception in 2011, OPU has been at the centre of projecting Yoruba cultural heritage and identity abroad. It is through OPU that we are able to cover 84 countries.

It is through OPU that we are able to assist ourselves and assert our roles for national calling and development.â&#x20AC;?

In his lecture, Adesanya Haastrup urged members of the group to instil the attributes of a selfless leader. Reteirating his belief in the leadership qualities of Adams, he said the Yoruba leader had paid the price for the position through series of sacrifices and selfless services.

In the same vein, the Zaki of Arigidi, Oba Olanipekun, urged the OPU members to support their leader. He said the platform was to help transform the group to be the

Iba Gani Adams with the Deji of Akure and other royal fathers

Members of the OPU at the World Congress rallying point of Yoruba the race.

The North American coordinator, Shola Agboola said the success of the OPU congress had sent a strong signal to the world that the group was ready to make remarkable impact.

The following day, the group had a series of debates and discussions on sundry issues.

A communiquĂŠ was thereafter issued. They thereafter had a dinner and social night even as the female juju artiste, Queen Ayo Balogun thrilled the guests.

The following day, the group embarked on sight-seeing to the mysterious Ikogosi warm and cold springs in Ikogosi-Ekiti and the Arinta Waterfalls, Ipole Iloro, both in the neighbouring Ekiti State.

At Ikogosi, Adams charged the Ekiti State government to restore the lost glory of the place. â&#x20AC;&#x153;The state government should urgently transform Ikogosi. It has a history of being one of the leading tourists destinations in Nigeria. There should be various facilities like a police station to ensure effective security, a mall, an accessible road leading to the site.

Ikogosi has the potential to bring huge revenue to the state,â&#x20AC;? he said.

The group also visited the historic Idanre Hills where they met with the Owa of Idanre, Oba Fredrick Adegunle Aroloye Gbolagunte.

Members of the group later climbed the

hills. There, Adams described Idanre as a prominent town with a rich cultural history.

He intimated the monarch with activities of OPU and OPC, and urged the community to resuscitate the Oke Idanre Festival, noting that it will enhance the development of the town.

In his response, Oba Gbolagunte said he was delighted to play host to the Generalissimo of Yorubaland.

The group were further intimated that the Idanre Hills has 670 steps with several tourists' attractions like the ancient Palace, community school built in 1896, community prison, Arun River, Ark of Noah, footprints and irremovable writings on the wall and several others.

General Manager, of the Idanre Hills Resort, Mr. Adee and two supervisors, Femi Ayotunde and John Cletus conducted the team round the sites before the group later converged on Ile Ife for the 2019 edition of the Oodua Festival.

Among the features was the Oodua Beauty Pageant which was won by Miss Lolade Lawal, a 22-year-old student of Obafemi Awolowo University, Ile Ife. The following day, Adams led the delegates to Ooniâ&#x20AC;&#x2122;s Palace, as part of the activities for the annual event. Speaking on behalf of Ooni, Lowa Adimula of Ife, High Chief Adekola Adeyeye, said the visit was a pleasant homecoming for both the OPU and OPC.

Adams said the annual festival was an effort by the Olokun Festival Foundation (OFF) to identify with Ife, the hometown of all Yoruba sons and daughters. At the festival, Adams canvassed for more unity among the Yoruba people, just as he said agriculture could be used to drive the development of the South-west. â&#x20AC;&#x153;I know that agriculture remains the best occupation that can guarantee equitable growth and development in the South-west.

In Botswana for example, a large number of the people in the country breed cows to boost the economy. The population of cows in the country is far higher than the population of the people. There, everybody is involved in full scale agriculture, from the small scale to large and mechanised farming. Here in the South-west, we can do the same by developing a master plan for agricultural development and transformation.â&#x20AC;?

He also charged the government to ensure free, fair and credible election, even as he insisted that Nigeria would not achieve its potential without restructuring.

Dignitaries at the event include the Obalufon of Ife, Oba Idowu Adediwura; Lowa Adimula of Ife, High Chief Adekola Adeyeye; Obadio of the Source, Oba Farotimi Faloba, and several prominent monarchs, as well as delegates of OPU and OPC.

22

IMAGES

R-L: President Muhammadu Buhari, SGF Mr. Boss Mustapha, National Deputy Chairman, (South) of the party, Niyi Adebayo and National Deputy Chairman (NORTH), Sen Shuaibu Lawan at the APC Emergency meeting on INEC Postponement of the February 16 Election held at the Party Headquarter in Abuja...recently PHOTO: STATE HOUSE

T H I S D AY Ëž Í°ÍŽË&#x153; Ͱ͎ͯ͡

Photo Editor Ă&#x152;Ă&#x201C;Ă&#x2122;Ă&#x17D;Ă&#x;Ă&#x2DC; Ă&#x201D;Ă&#x2039;Ă&#x2013;Ă&#x2039; Email Ă&#x2039;Ă&#x152;Ă&#x201C;Ă&#x2122;Ă&#x17D;Ă&#x;Ă&#x2DC;Ë&#x203A;Ă&#x2039;Ă&#x201D;Ă&#x2039;Ă&#x2013;Ă&#x2039;ĚśĂ&#x17E;Ă&#x2019;Ă&#x201C;Ă?Ă&#x17D;Ă&#x2039;ĂŁĂ&#x2013;Ă&#x201C;Ă Ă?Ë&#x203A;Ă?Ă&#x2122;Ă&#x2014;

L-R: Lay president, diocese of Remo Methodist Church Nigeria, Sir Lana Odutola kjw; Lay president Archdiocese of Lagos, Sir Peter Olorunfemi kjw and Lay president, Diocese of Lagos. Sir Gbolahan Olayomi kjw at the enthronement and presentation of his grace, the most Rexd Dr Isaac Ayobami Olawuyi (phd) as the Archbishop of Lagos,at the wesley cathedral, olowogbowo, Lagos....recently

L-R; Ngozi Alaegbu, Mike Okwoche and Veronica Onuchi; all Lead Anchors at TVC News during the unveiling of a brand-new high deďŹ nition news studio at its headquarters in Lagos...recently

L-R: Chairman, Ikorodu Local Government, Hon Wasiu Adeshina; Senior Special Assistant to the President on Diaspora, Hon Abike Dabiri-Erewa; beneďŹ ciaries, Adesola Kareem and Assistant Director, National Directorate of Employment, Mrs. Omotunde Akinyemi-Adesanya, during the disbursement of Micro Enterprise Enhancement loan to 100 beneďŹ ciaries facilitated by Hon Dabiri-Erewa in collaboration with NDE, at Ikorodu, Lagos...recently PHOTO: KOLA OLASUPO

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

The Chief Naval StaďŹ&#x20AC;, Vice Admiral Ibok-Ete Ibas inspecting the MTU Engines Training Centre at Nigerian Navy Engineering College Sapele....recently

L-R: Media Relations OďŹ&#x192;cer, First City Monument Bank (FCMB), Mr. RaďŹ u Mohammed; Head, Youth Segment of the Bank, Mr. Michael Nwoseh; Head, Digital Marketing & Communication, Mrs. Lola Egboh; Executive Director, Youth Empowerment Foundation, Mrs. Iwalola Akin-Jimoh and Team Lead, Corporate Social Responsibility & Sustainability of the Bank,, Mr. Omoniyi Iyanda, with some of the beneďŹ ciaries of the second edition of the FCMB sponsored Empowered For the Future Skill Acquisition programme for 50 youths, during the graduation ceremony of the training held in Lagos....recently

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

BUSINESSWORLD

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

Íś Ë&#x153; Í° ÍŽ ÍŻ ͡ MONEY MARKET OVERNIGHT OBB

REPO 19.42 % 18.67%

CALL 1-MONTH 3-MONTH

24.50% 15.25 % 17.88%

S & P INDEX INDEX LEVEL 1-DAY MONTH-TO-DATE

370.18% 0.57% 1.50%

S & P INDEX 1/4 TO DATE YEAR TO DATE

3.70% 3.7%

EXCHANGE RATE ͹͎ʹË&#x203A;;͎˚ͯ ĚŠ ĚŠ

Quick Takes Aero Incentivises Voters with Promo

Nigeriaâ&#x20AC;&#x2122;sforemostcommercialairline,AeroContractorshasintroduced promofarestohelpNigerianswhowishtotraveltogoandvoteduring the elections. The airline said the initiative was its contribution to support Nigeria conduct successful election and also to encourage the citizens to travel to where they can cast their votes. So it decided to cut its fares by about 50 per cent to support Nigerians to travel without spending so much, adding that this was an incentive to the citizens to carry out their civil responsibility during the elections AeroinastatementsaideďŹ&#x20AC;ectiveMonday,February18,2019,itwould commence the sale of tickets from N16,000 for travels between the 21st and the 25th of February, 2019 on all her routes to encourage Nigerians to travel to their various destinations in order to cast their votes. Aero Contractors ďŹ&#x201A;ies to Lagos, Abuja, Kano, Port Harcourt, Warri, Asaba, Uyo and Sokoto.

Sanwo-Olu Pledges Economic Prosperity

BUSINESS EXPANSION

L-R: Executive Director, Corporate & Investment Banking, Sterling Bank Plc, Yemi Odubiyi and Director General of Arab Bank for Economic Development in Africa(BADEA),Dr.SidiOuldTAH,atthesigningceremonyofthe$65millioncreditlinetoSterlingBankfromBADEAinCairoâ&#x20AC;Śrecently

FMDQ OTC Exchange Records N15trn Turnover in One Month Chineme Okafor in Abuja The fixed income and currency (FIC) market operated by FMDQ OTC Securities Exchange opened 2019 on a weak note, recording a turnover of N15.08 trillion in January. The performance showed a decrease of 14.8 per cent compared to the turnover of December 2018, which was N17.7 trillion.

The Treasury Bills (Tbills) and Foreign Exchange (FX) market segments remained the major driver s of turnover in the FIC market, jointly accounting for 78.69 per cent of turnover in January and higher by 2.21 percentage points from their contribution to turnover in

INVESTMENT December (76.48 per cent).

Total FX market turnover in January 2019 was $14.91 billion, representing a 35.36 per cent Increase from the $11.01 billion turnover recorded in December2018. The increase in FX turnover in January can be attributed to the 150.61 per cent and 0.61 per cent rise in member-clients and inter-member trades which was only marginally offset by the 27.55 per cent decrease in member-CBN trades Contrastingly, turnover at the Investors & Exporters (I&E) FX Window in January 2019 recorded 22.42 per cent

and 26.86 per cent month-onmonth(MoM) and year-on-year decreases respectively to close at $3.84 billion from the $4.95 billion and $5.25 billion recorded in December and January 2018 respectively Analysis of FX turnover by product type showed that FX Spot was the main driver of the overall increase in FX turnover, with a MoM increase of 462.93 per cent. The exchange said the increase in FX Spot could be attributed to FX inflow for investments in the higher yielding FGN fixed income securities.

Conversely, FX Derivatives recorded a MoM decrease of 42.34 per cent , driven mainly

by a44.89 per cent decline in member-CBN FX Swaps turnover, while turnover in FX Futures also declined by 35.66 per cent.

Total T. bills(including OMObills) outstanding recorded a MoM decrease of N0.16trn to close at N2.58 trillion as the CBN continued mopping up liquidity via its OMO auctions to curtail build-up of inflationary pressure. FGN Bonds remained flat at N8.26trn as at January 31, 2019.

Monthly Trading Intensity in the T. bills and FGN Bonds markets decreased marginally from 0.49 and 0.09 in December 2018, to 0.46 and 0.08 in January Continued on page 24

CBN Disburses N596bn to Farmers Obinna Chima The total amount released by the Central Bank of Nigeria (CBN) under the Commercial Agriculture Credit Scheme (CACS) from inception to the participating banks for disbursement stood at N596.44 billion for 576 projects as at the end of the fourth quarter of 2018.

Of the total number of projects, 34 were in respect of state governments.

The Central Bank of Nigeria (CBN) disclosed this in its Economic Report for the fourth quarter of 2018, released recently.

A total of N852.15 million was guaranteed to 5,454 farmers under the Agricultural Credit Guarantee Scheme (ACGS) in

ECONOMY the fourth quarter of 2018. The amount represented a decrease of 40.1 per cent and 5.9 per cent below the levels in the preceding quarter and the corresponding period of 2017, respectively.

The report noted that the cessation of rainfall led to widespread dryness of severe to-extreme intensity across the country in fourth quarter of 2018.

Generally, the predominant agricultural activities during the review quarter were the harvesting of tubers, grains and vegetables, while pre-planting operations in preparation for dry season planting commenced.

In the livestock sub-sector,

farmers engaged in the fattening of cattle and stocking of broilers to take advantage of yuletide season sales.

Sub-sectoral analysis of the ACGS showed that food crops got the largest share, amounting to N369.54 million (43.4%), guaranteed to 2,373 beneficiaries; followed by mixed crop subsector, which received N162.75 million (19.1%), guaranteed to 1,710 beneficiaries N138.44 million (16.2%) was guaranteed to livestock sub-sector in favour of 564 beneficiaries; while cash crop, fisheries and â&#x20AC;&#x2DC;othersâ&#x20AC;&#x2122; sub-sectors got N105.28 million (12.4%), N58.82 million (6.9%), and N17.32 million (2.0%), guaranteed to 542, 175 and 90 beneficiaries, respectively.

Analysis by state showed that 30 states and the Federal Capital Territory benefited from the scheme with the highest and lowest sums of N95.83 million (11.3 per cent) and N1.99 million (0.2 per cent) guaranteed to Ogun and Bayelsa states, respectively.

Activities in the industrial sector showed improvements during the fourth quarter of 2018, on account of expansion in the manufacturing activities due to increased employment, output and new orders in the manufacturing sub-sector.

Slowdown in prices of input also contributed to increased activities.

Thus, industrial production in the review quarter indicated Continued on page 24

The governorship candidate of the All Progressives Congress (APC) in Lagos State, Babajide Olusola Sanwo-Olu has once again aďŹ&#x192;rm his commitment to birth a greater Lagos that would ensure the prosperity of the residents. He disclosed this recently during an event tagged: â&#x20AC;&#x2DC;A Passion to Serve.â&#x20AC;&#x2122; Sanwo-Olu,inthecompanyofhisrunningmate,Dr.ObafemiHamzat, usedtheevent,whichheldinďŹ velocationsacrossthestatetoassure residents of improved well-being and economic policies.

He also shared roses and other gifts with Lagosians to demonstrate his love for the people. The campaign, which took place at Abule Egba, Festac, Ikeja, Surulere, and Tafawa Balewa Square (TBS), Lagos, featured music, dance competitions and pretty ladies in red, addressed as â&#x20AC;&#x2DC;Sanwo Angelsâ&#x20AC;&#x2122;, handing out roses to Lagosians.

Addressing the people at Ikeja, Sanwo-Olu reiterated that health, cleanerandsaferenvironment,traďŹ&#x192;cmanagementandtransportation, security as well as improved economy would be accorded priority amongstotherlaudableprogrammeshisadministrationwouldoďŹ&#x20AC;er the residents of the state. â&#x20AC;&#x153;From the creative energies of our youths, the spirit of enterprise in our land, to the wisdom of our elders, I am persuaded a greater Lagos is possible.There could not have been a betterdayformetotellyouofmylovetoserveyouthantoday,â&#x20AC;?hesaid.

Speaking further, Sanwo-Olu said his administration would be committed to reducing travel time and increasing per capita productivity for Lagosians by improving infrastructures such as road, rail and water transportation. â&#x20AC;&#x153;Our major healthcare plan is to improve access and aďŹ&#x20AC;ordability through comprehensive health insurance and improve primary and secondary health facilities.

Babaeko, Others for Ad Festival Jury

The New York Ad Festival has chosen three of Nigeriaâ&#x20AC;&#x2122;s creative egg-headsledbySteveBabaeko,CEO,X3MIdeasandVicePresident, AssociationofAdvertisingAgenciesofNigeria(AAAN);SolaKosokoKing, Creative Director, X3M Ideas and Chris Ogunlowo, Creative Director, SO&U as members of the grand jury for the 2019 New York International Advertising Awards.While Babaeko is making his third appearance as a Grand Jury member having featured earlier in 2016 and 2018 editions, Ogunlowo, and Kosoki-King are making their debut on the respected jury panel.

The trio would join other international creatives to select the worldâ&#x20AC;&#x2122;s bestadvertising. â&#x20AC;&#x153;TheNYFâ&#x20AC;&#x2122;spowerhouse400+GrandJuryrepresents themostdiversebraintrustofglobalcreativemindsintheadvertising industry from 65 countries,â&#x20AC;? a statement explained.

Commenting on the selection, Babaeko said: It is actually humbling.

NYAF is one of the oldest advertising awards in the world.They take special pride in selecting the best practitioners from across the globe to judge. â&#x20AC;&#x153;Getting a 3rd invitation is quite special. I am not alone though, I have with me this year the Creative Directors of X3M Ideas and SO&U. So itâ&#x20AC;&#x2122;s a good one for Nigeria â&#x20AC;&#x153;Clearly it shows that Nigeria is beginning to get the recognition it deserves. As the Vice President of the Association of Advertising Agencies of Nigeria, itâ&#x20AC;&#x2122;s part of our agenda to keep placing Nigeriaâ&#x20AC;&#x2122;s advertising on the global stage. This is one step in the right direction.â&#x20AC;?

â&#x20AC;&#x153;In investments, the longer the waiting time for any outcome, the higher the perception of risk. Also, the postponement indicates that we may not as a country have all our act all together thus increasing concerns about the possibility of the election process being smooth and hitch freeâ&#x20AC;?

Group Chief Executive Officer, Emerging Africa Capital Group,

Mrs. Toyin Sanni

24

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

FMDQ OTC EXCHANGE RECORDS N15TRN TURNOVER IN ONE MONTH respectively, as the 12.77 per cent rise in T.bills and FGN Bonds outstanding did not result in similar or higher growth in turnover.

T. bills within the 6-12 months maturity bracket remained the most actively traded in January 2019, accounting for 44.57 per cent of the total FIC market turnover. Yield spread between the 3-month T. bill and the 10year FGN Bond decreased by 217basis points (bps) to close at 3.18ppts in January 2019 (1.01ppts in December2018).

Turnover recorded in the Repos/Buy-Backs segment of the Money Market was N2.45 trillion in the review month, representing a 27.39 per cent MoM decrease from N3.37 trillion recorded in December 2018, and a 31.78 per cent YoY increase from the turnover recorded in January 2018.

CBN DISBURSES N596BN TO FARMERS a marginal increase over the level in the preceding quarter. At 119.1 (2010=100), the estimated index of industrial production in the review quarter, rose by 1.7 per cent above the level in the preceding quarter. The increase reflected, improved activities in all sub-sector of the industry.

The estimated index of manufacturing production in the fourth quarter of 2018, at 188.6 (2010=100), showed a marginal increase of 3.2 per cent, when compared with the level in the preceding quarter.

Capacity utilisation was estimated at 55 per cent showing a marginal increase of 0.2 percentage point over the level in the preceding quarter. â&#x20AC;&#x153;The improvement was due to continued expansion in consumer demand and moderated input prices,â&#x20AC;? it stated.

According to the report, global growth was estimated at 3.7 per cent for 2018, same as was for 2017.

This was due to a weaker outlook for some key emerging market and developing economies, arising from countryspecific factors, tighter financial conditions, geopolitical tensions, and higher oil import bills.

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)

Juicy Yields May Spare Banks from Profit Pains Nume Ekeghe with agency report Nigeriaâ&#x20AC;&#x2122;s biggest banks have found a way of shielding earnings from another year of tepid credit demand -- buying up local government bonds that offer among the highest yields in emerging markets.

According to Bloomberg, lenders are reducing credit to companies and consumers hampered by challenges in an economy too dependent on oil -- the prices of which have tumbled nearly 30 per cent since October.

Steep inflation, a lack of foreign exchange and high levels of unpaid loans are also weighing on banksâ&#x20AC;&#x2122; risk appetite.

Thatâ&#x20AC;&#x2122;s making the allure of parking cash in state securities with interest rates of up 17.6 percent almost irresistible.

The yields are offering â&#x20AC;&#x153;short-term respiteâ&#x20AC;? for banks, the co-manager for Allan Grayâ&#x20AC;&#x2122;s $389 million Africa equity fund, Nick Ndiritu said, especially where the â&#x20AC;&#x153;perennial concern is the lack of a diversified base of credit-worthy borrowers.â&#x20AC;?

So far, itâ&#x20AC;&#x2122;s paying off.

Nigeriaâ&#x20AC;&#x2122;s naira bonds have returned six per cent this year and are the second-best best-performing local debt in emerging markets for the month of February, according to data compiled by Bloomberg.

Yields might be driven higher by the last-minute delay to this weekendâ&#x20AC;&#x2122;s elections, although the uncertainty hammered stocks, with the Nigerian Stock Exchange Banking 10 Index sliding 3.2 per cent on Monday, paring 2019â&#x20AC;&#x2122;s gains to 5.7 per cent.

While keeping its base interest rate at a record 14 per cent,

the Central Bank of Nigeria is reining in liquidity by offering short-term bills known as open market operations to lenders.

By reducing the amount of cash in the financial system, the regulator can also avoid speculators buying dollars, which causes the naira to weaken, thereby alleviating some price pressure.

Inflation eased to 11.37 percent in January.

Banks, for example, couldâ&#x20AC;&#x2122;ve snapped up 364-day OMO bills at a yield of 15 per cent at a sale on February 14, or Treasury Bills of the same duration for

17.57 per cent in an auction a day earlier.

Longer-dated OMO bills may rise to as high as 23 percent if higher U.S. interest rates cause outflows from Nigeria, according to Lagos-based Chapel Hill Denham Securities Limited.

But it is an area where only the nationâ&#x20AC;&#x2122;s biggest lenders, such as Guaranty Trust Bank Plc and Zenith Bank Plc, have strong enough balance sheets to play in.

Smaller firms are too busy trying to recover non-performing loans and build capital buffers, whereas the larger banks have

relatively clean non-performing loan books.

This means small banks need to conserve all the cash they can, potentially causing them to miss out on the low-hanging fruit of buying government debt.

The one downside is that the higher yields could push up the cost of funding, squeezing net-interest margins, especially for smaller lenders unable to pass the extra expense onto customers. â&#x20AC;&#x153;Big banks are always winners in Nigeria because their scale advantages dwarf any inefficiencies they may carry,â&#x20AC;?

the head of equity research at FBN Capital, Bunmi Asaolu said. â&#x20AC;&#x153;Tier 2 banks will continue be the laggards.â&#x20AC;? Nigeria has the fourth highest yields among emerging markets â&#x20AC;&#x153;Credit growth is expected to remain subdued as the economy remains underperforming, and trading income might be lower than what the banks recorded in 2018,â&#x20AC;?a banking analyst at Exotix Partners LLP in Lagos, Olabisi Ayodeji said. â&#x20AC;&#x153;That said, it is possible that we see some support from the higher interest-rate environment.â&#x20AC;?

ISO CERTIFICATION

L-R: Chief Marketing Officer, Cyberspace Limited, Olusola Bankole; Director, Finance and Admin, Victor Abulele; Executive Director, Joe Onwubuya; Sector Lead/Trade Advisor for ICT, British High Commission, Ms Boma Beddie-Memberr; Chief Operating Officer, Cyberspace, Stanley Oduah and ChiefTechnology Officer, Azubike Osunwa, during the official handover of ISO 9001:2015 QMS certificate to Cyberspace Limited in Lagos...recently

PTDF: Oil Service Companies Now Employ OurTrained Welders Chineme Okafor in Abuja The Petroleum Technology Development Fund (PTDF) has disclosed that some indigenous oil service companies have started engaging the services of Nigerian welders trained by the capacity building institute for the implementation of their oil and gas service contracts.

It explained in a recent statement by its Head, Press and External Relations, Mr. Kalu Otisi, in Abuja, that this followed the exposure it gave to the welders to improve on their skills and competencies.

The skills and competence programme to the welders, it added were obtained from the Post Training Attachment (PTA) programme - a practical on-the-job internship scheme that prepares beneficiaries for absorption into the industry, which it organised for them.

According to the PTDF, the PTA programme was still on-going in the three refineries owned and operated by the Nigerian National Petroleum Corporation (NNPC) in PortHarcourt, Kaduna and Warri.

Quoting one of the trainees, Ibrahim Mohammed, in the

statement, the PTDF said he was employed by Dorman Long Engineering Limited, a leading oilfield equipment, marine structural engineering and fabrication company.

It also said another beneficiary, Gideon Uko, had on completion of the six months PTA programme engaged by Supertech Investment Limited, a contractor with the Warri Refining and Petrochemical Company (WRPC). It added that the company specialised in Engineering, Procurement and Construction (EPC) services in the oil industry.

The statement equally noted that management of the refineries commended PTDF for the high level-training given to the welders.

It quoted the Executive Director Operations at WRPC, Mr. Ariaga Uzoma, to have said at the close-out ceremony of the second batch of the PTA scheme that the welders have been of immense support and added value to the operations of the refinery plant.

The PTDF, said more of its trained welders have been exposed to the practical on-thejob experience in the industry

with the expectation that the industry would eventually absorb them.

It explained that at the Port-Harcourt Refining and Petrochemical Company (PHRC), the third batch of the PTA scheme was recently flagged off, and that the management of the refinery was impressed by the diligence, professionalism and commitment to duty of the previous beneficiaries of the PTA at the refinery, and thus requested for an increase in the number of PTDF trained welders for enrolment into the PTA scheme at the refinery.

â&#x20AC;&#x2DC;Genetically Modified Beans Safe for Consumption, to Boost FX Earningsâ&#x20AC;&#x2122; James Emejo in Abuja The President, National Biotechnology and Biosafety Consortium (NBBC), Prof.

Celestine Aguoru, has argued that the local development Pod-Borer Resistant Cowpea (PBR-Cowpea), a genetically modified (GMO) solution to boost beans production will conserve foreign exchange (FX) by cutting down on importation of 5,000 tons of beans annually.

He maintained that the solution has no health implications as being taunted by some stakeholders who are

apparently uninformed about the breakthrough indigenous innovation launched recently.

Speaking at a media briefing in Abuja to address the perceived misconception which had greeted the innovation, he said, â&#x20AC;&#x153;farmers can now heave a sigh of relief from chemicals which they have to spray about 10 times for each beans seasonâ&#x20AC;?.

He said the country would save a lot of FX used in the importation of chemicals should farmers embrace the new harmless organic solution yet effective in boosting beans production by at least 20 per

cent yields.

According to him: â&#x20AC;&#x153;Today, beans from Nigeria is not accepted at the international market due to heavy use of chemical on farms and in storage, this development should worry any right thinking Nigeria but some who have constituted themselves into perpetual critics see nothing bad in that, they want government to ban the GM beans, â&#x20AC;&#x153;Nigeria has had enough of this draw back syndrome, what are the duties of the over 15 agricultural research institutes all over the country as well as the federal government owned

and funded universities of agriculture, faculties of agriculture, sciences, vet medicines and all the related units in universities and the like? â&#x20AC;&#x153;Their duties are simply to work on the improvement of our crops, provide scientific solutions to challenges facing farmers and ensure that crops which the country has comparative advantage in producing is enhanced to the extent that we donâ&#x20AC;&#x2122;t have to lose that advantage.â&#x20AC;?

Aguoru urged the federal government to ignore calls by non-scientific activists seeking

for ban the GM beans as it has been proven to be safe and poses no harm to human or animals. â&#x20AC;&#x153;We urge the government to encourage these non-experts who turn around to criticise to come together with us where government personnel shall be observers where issues could be explained to those agitating.â&#x20AC;?

He also urge the federal government to increase budgetary allocations to universities and research institutes to enable them undertake research that meets national aspirations as evidenced in the case with PBR Cowpea.

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Leadway Assurance Promotes Term Life Assurance Stories by Ebere Nwoji The Executive Director, Leadway Assurance Company Limited, Adetola Adegbayi, has charged Nigerians to subscribe to term life insurance products, saying, â&#x20AC;&#x153;people should form the habit of buying what they cannot save, through term assurance policy.â&#x20AC;?

Speaking at the Leadway Assurance Media Training for Insurance and Pension journalists in Lagos recently, Adegbayi stressed that with little premium, people can buy the product that has a minimum sum assured of N1 million.

He urged the middle and low income earners to see the package as an opportunity to

enrich their lives.

Using Leadway Term Assurance product, as an example, she said, the plan was a simple but flexible life insurance product that pays out a lump sum if death occurs during the period of cover.

You choose the amount of that lump sum and the length of cover, and your premium is calculated accordingly, she said.

For an additional sum, she said, intending subscribers can extend cover to apply to critical illnesses or when the person becomes permanently disabled because of an accident anywhere in the world. â&#x20AC;&#x153;You can choose to pay your premiums in a way that suits you best: you can pay

a single one-off premium, or you can pay monthly, quarterly, half-yearly or annually. â&#x20AC;&#x153;The premiums you pay qualify for tax relief and can therefore, reduce your tax bill,â&#x20AC;? she noted.

He stated that a policyholder has the right to cancel his or her policy and receive a full refund of premium paid if done within 30 days of receipt of the full policy documentation.

According to her, â&#x20AC;&#x153;Take a little money to buy a N10 to N15 million. If anything should happen, your family has about N10 million to fall back to. It takes care of school fees of your children and other financial needs. Maybe, you can buy N10 million with N50,000 premium, for example.â&#x20AC;?

Court Restrains NAICOM from Halting Guinea Insurance Underwriting Businesses Ebere Nwoji The Federal High Court sitting in Abuja has given an order restraining the National Insurance Commission (NAICOM) from suspending Guinea Insurance Plc from writing new businesses.

The court, in a ruling by Justice I. E. Ekwo, granted an order in a suit that was filed by Guinea Insurance Plc with suit No: FHC/ ABJ/CS/151/2019 against the Commission on February 6, 2019. â&#x20AC;&#x153;An order of mandatory injunction restraining the defendant, whether by itself, or assigns, successor-in- title, personal representative, agents or privies or any other person or body of persons( however described) acting for it or at its instance or behest, from enforcing or taking any steps whatsoever, including, without limitation, writing letters, issuing directives and/ or instructions of the plaintiff or any other person or entity; or taking out publications or any other acts; with intent , ( or, in respect of such acts having) the likelihood or potential, to halt, stop, disrupt, frustrate or defeat; or in any way other way whatsoever, undermine or negatively impact the operations and / or business of the plaintiff; for any reasons whatsoever arising from, connected to, based upon or touching or concerning the compliance

with the directives contained in the defendant â&#x20AC;&#x2DC;a letter of 28th January, 2019 pending the hearing and determination of the motion on notice,â&#x20AC;? the court said.

It held that all the parties should maintain status quo, pending the hearing and determination of the motion on notice before the court.

Some of the issues according to NAICOM includes the companyâ&#x20AC;&#x2122;s failure to appoint a substantive Managing Director; secure reinsurance treaty, amongst others.

The underwriting firm however denied the purported suspension in a statement it released recently. It stated that its attention was drawn to various newspaper publications wherein, it was expressly reported that Guinea Insurance Plc had been suspended by NAICOM from writing new businesses. â&#x20AC;&#x153;On the basis of this, we are constrained as a Company to set the record straight by informing the general public, business associates, shareholders, prospective investors and policyholders that the report posits compelling stand for a rebuttal as the Board of Guinea Insurance Plc had on 15th February 2018 appointed Babatunde Oshadiya as Managing Director/Chief Executive Officer of the Company and the proposal for his appointment was submitted to NAICOM for approval. â&#x20AC;&#x153;The said notification captioned

â&#x20AC;&#x153;Guinea Insurance appoints Oshadiya MD/CEOâ&#x20AC;? was uploaded on Nigerian Stock Exchange (NSE) portal and also published in various Nigerian media.â&#x20AC;?

Meanwhile, on the reinsurance treaty, the firm stated, â&#x20AC;&#x153;there is available and incontrovertible evidence showing that Guinea Insurance Plc has a treaty backup for 2019 packaged by its Lead Reinsurance Broker â&#x20AC;&#x201C; Glanvill Enthoven Reinsurance Brokers Limited. â&#x20AC;&#x153;On 17th December 2018, Glanvill Enthoven Reinsurance Brokers Limited sent the Guinea Insurance Plc 2019 Reinsurance Treaty Cover Notes to the Company; which documents have been duly delivered alongside all contracting signed slips as evident in the acknowledgement letter stamped as â&#x20AC;&#x153;receivedâ&#x20AC;? by NAICOM on 18th December 2018. â&#x20AC;&#x153;The board and management of Guinea Insurance Plc is currently engaging NAICOM with a view to resolving all attendant issues to the said publication within the shortest possible time. â&#x20AC;&#x153;We are an upwardly mobile company, peopled with skilled professionals, our strength is made manifest in our passion for high standards; the singleminded determination to emerge a world class enterprise and our conscious obligation to meet regulatory deadlines,â&#x20AC;? it said.

AIICO Insurance Supports Education AIICO Insurance Plc has donated mathematical sets and calculators to pupils and students in over 30 primary and secondary schools.

The donation of the items to the schools in six states, according to the company was part of its efforts to ignite passion for science and technology innovation among Nigerian youths. â&#x20AC;&#x153;This is in line with the organisationâ&#x20AC;&#x2122;s commitment to promote literacy and to aid the adoption of STEM in Nigerian schools.

STEM is a curriculum based on the idea of educating students in four specific disciplines â&#x20AC;&#x201C; Science, Technology, Engineering and

Mathematics and this campaign is being championed across various climes, including Nigeria,â&#x20AC;? the Head, Strategic Marketing & Communications of AIICO Insurance, Atinuke Jose said.

According to her, AIICO Insurance, identifies with the initiative and supports governmentâ&#x20AC;&#x2122;s drive to entrench STEM in Nigerian schools by encouraging young ones to pursue STEM subjects.

Speaking on the donation, the Executive Director/Chief Operating Officer, AIICO, Insurance, Mr. Babatunde Fajemirokun, said the company has always had a culture of giving back to impact society.

â&#x20AC;&#x153;Our corporate social responsibility program is centred on: promoting literacy and STEM education, skill acquisition and aiding in the delivery of quality, affordable healthcare. This initiative is aimed at igniting a spirit of innovation with the younger generation who will be our future leaders.â&#x20AC;?

AIICO Insurance commenced operations in 1963. The firm provides life insurance, health insurance, general insurance, wealth management and pension management services as a means to create and protect wealth for individuals, families and corporate customers.

ELEVATING TO THE NEXT LEVEL Marie-Therese Phido

Business Etiquette Makes the Difference â&#x20AC;&#x201C; Part 2 Last week, we covered Part 1 of Business Etiquette Makes the Difference. This week, we will continue. As we all know, good business etiquette takes you, your business and organization to the next level. In continuation, according to Kyra Sheahan and Business Culture Organization, we should always aim to do the following: â&#x20AC;&#x2DC;Thank Youâ&#x20AC;&#x2122; Note If you want to differentiate yourself from others, then never forget to write a â&#x20AC;&#x2DC;Thank Youâ&#x20AC;&#x2122; note to your job interviewer or your client. This will leave a good impression and also reflect well on you and your company.

Following up correspondence is seen as a proper gesture. After working with a client, customer or coworker it is in good form to send a thank-you email or note, recognizing their business or efforts.

Know the Names Give others respect by knowing their names.

This will increase goodwill and communication.

It is also worth management stepping back and acknowledging people individually for their good work, as this will enhance their self-esteem and increase motivation.

Observe the â&#x20AC;&#x2DC;Elevator Rule â&#x20AC;&#x2DC; Be mindful of saying inappropriate things at a job interview or client meeting. Donâ&#x20AC;&#x2122;t start discussing business with a client or interviewer as soon as you step out of the lift.

By doing so, you avoid the risk of damaging your reputation because such interactions are deemed confidential and talking about what transpired can be construed as an inability to keep business secrets.

Focus on the Face, Not the Screen Never forget to switch off your phone and try not to use any other device just to prove you are a multitasking individual. In fact, in the world of business this is considered bad manners. Concentrate on the meeting and listen to what people are saying.

Donâ&#x20AC;&#x2122;t Judge Everyone is unique in their own way and use a different approach to deal with situations. Therefore, if you disagree with another personâ&#x20AC;&#x2122;s approach instead of criticizing try to understand it from their point of view. By doing so, you create a friendly environment.

Always remember you get respect by giving respect.

Character, Behaviour, Honesty Your character reflects your individuality and your behaviour exhibits your personality.

Business etiquette encourages revealing your positive qualities. This helps your reputation.

Always be honest and remember that it takes a long time to develop trust and a good reputation and only one small mistake to lose it. Business etiquette provides a framework for stating the boundaries of good behavior, ethics and integrity. How do you behave under pressure? How will you act if asked to compromise your values? Your character, behavior and honesty are all part of business etiquette because it determines whether people will want to do business with you.

Sensitivity & Diplomacy A key pillar of business etiquette is sensitivity.

This means giving careful thought to every business aspect before making a judgment. This gives a strong foundation to your business.

Also, thoughtless words and actions lead to a negative outcome. Being aware of business etiquette encourages careful thought.

Dressing Business etiquette instructs on you how to present yourself professionally in different cultures. The keys for making a good impression are dressing appropriately for a meeting or an

event. Underdressing or overdressing can end up being embarrassing to you or your host.

The way you dress impacts whether you have good business etiquette or not. The business world is professional, and the people who work in it must dress to reflect that level of professionalism. As such, make sure your clothes are clean and pressed, and that you wear suits, blouses, skirts, blazers, ties or other clothing that make a good impression.

Listening Skills Communication is the lifeblood of business.

For people to get along, work in unison and establish professional relationships with one another, they must communicate with the appropriate etiquette. Listening skills are a main part of communication etiquette. When others are speaking do not interrupt them.

Employ active listening techniques, such as making good eye contact and showing the speaker that you are paying attention to them.

Meetings The Society for Technical Communication says it is proper business etiquette to show up on time, or preferably, a few minutes early to meetings. Come prepared with pen and paper. It is also important to note that you do not come too early. Attending a meeting 30 minutes early can be considered rude because you will be seen to be an intrusion into someoneâ&#x20AC;&#x2122;s time.

Politeness Remember to always say please and thank you when you interact with others, in person or over written correspondence. Being polite makes you pleasant to work with and shows respect.

Best Behavior To be on your best behavior, always give others your utmost attention when they are speaking or conducting a presentation. Put your cell phone away during this time and do not engage in side conversations with coworkers.

Handshake Shaking hands with your business counterparts establishes rapport and is in good form.

For international interactions, research how that culture greets one another professionally in business, as not all countries see shaking hands as a form of respect. For example, Asians bow and the British royal family courtesy.

Table Manners There will be times when you have to attend a business luncheon. Some tableside manners to practice are not speaking with your mouth full, using your napkin and not setting bags or briefcases on the table.

Diplomacy Ravenwerks, an organization for global ethics, etiquette and effectiveness, says to always be diplomatic when engaged in a business conversation, even if you disagree with what others are saying. Apologize if you step on other peoplesâ&#x20AC;&#x2122; toes, but do not be afraid to hold true to your convictions.

Tone Never raise your voice to others in the work environment, or use foul language toward them. Keep your tone as neutral as possible, and avoid â&#x20AC;&#x153;talking downâ&#x20AC;? to others.

Letâ&#x20AC;&#x2122;s practice these attributes and take our business etiquette skills to the next level.

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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Banksâ&#x20AC;&#x2122; Fresh Headache The changing banking landscape occasioned by increasing activities of financial technology companies and the planned introduction of Payment Service Bank may change commercial banksâ&#x20AC;&#x2122; operating models, writes Obinna Chima There has been a surge in financial technology (fintech) companies in the country. These firms which have continued to encroach in commercial banksâ&#x20AC;&#x2122; businesses, clearly threatens the profitability of financial institutions, especially at a time when Nigerian banks are facing significant earnings-constraining regulations compared to their peers in the continent.

For instance, a recent report had shown that some fintech firms have started targeting the deposit and loans segments of traditional banks, with a view to taking part of the market share of the financial institutions.

The report by Lagos-based Financial Derivatives Company Limited (FDC), cited an example of PiggyBank, which uses recurring card payments to allow its customers create and fund a savings account on their mobile phone. This, according to the report, has proven popular among working class Nigerian youths as it offers an alternative to a traditional fixed deposit account which requires a number of visits to a physical branch to set up.

Indeed, as technologies evolve, customer taste and lifestyles also change, prompting the development of technology solutions that would meet customersâ&#x20AC;&#x2122; needs and lifestyles, as they relate to financial transactions.

The emergence of fintechs changed the whole narrative in the banking sector as they continue to come up with disruptive technology solutions that have changed the face of banking globally.

In fact, fintechs offer customers a superior service, at a lower cost, through the efficiencies of technology.

On the other hand, commercial banks are financial intermediaries: they take money from people looking to save (deposits) and give to people looking to borrow (loans). They generate interest on loans, and they collect fees and commissions on numerous value added services to the depositors, for example: money transfers, foreign exchange transactions, and bill payments.

Clearly, the incursion by the fintechs is causing banks headache as they strive daily to maintain their market share.

And the planned introduction of Payment Service Bank is expected to further heighten competition in the industry.

Role of PSBs The Central Bank of Nigeria (CBN) had in the last quarter of 2018, unveiled the operational guidelines for the PSBs. The move was in furtherance of the CBNâ&#x20AC;&#x2122;s mandate of promoting a sound financial system and enhancing access to financial services for low income earners and unbanked segments of the society.

The PSBs are to operate mostly in the rural areas and unbanked locations, targeting financially excluded persons, with not less than 25 per cent financial service touch points in such rural areas as defined by the CBN from time to time, the guidelines said.

According to the CBN, the key objective of setting up PSBs is to enhance financial inclusion by increasing access to deposit products and payment/remittance services to small businesses, low-income households and other financially excluded entities through high-volume low-value transactions in a secured technology-driven environment.

The new banks are to also enter into direct partnership with card scheme operators but such cards shall not be eligible for foreign currency transactions.

They are to deploy ATMs in some of these areas; deploy Point of Sale devices and be at liberty to operate through banking agents (in line with the CBNâ&#x20AC;&#x2122;s Guidelines for the Regulation of Agent Banking and Agent Banking Relationships in Nigeria).

Accordingly, PSBs are envisioned to facilitate high-volume low-value transactions in remittance services, micro-savings and withdrawal services in a secured technology-driven environment to further deepen financial inclusion and help in attaining the policy objective of 20 per cent exclusion rate by 2020.

Already, MTN Nigeria and Airtel Nigeria have announced plan to set up a PSBs in Nigeria.

Airtel had said the PSBs would help promote financial inclusion as well as enhance access to

financial services to the rural poor, low income earners and financially excluded of the society.

The Chief Executive Officer and Managing Director of Airtel Nigeria, Mr. Segun Ogunsanya, had said, â&#x20AC;&#x153;We have commenced the process of applying for a license as we believe that we are at a vantage position to empower and connect more Nigerians as well as deliver mobile banking services to the door steps of the financially excluded.â&#x20AC;?

On his part, the Chief Executive Officer of MTN, Mr. Rob Shuter, had said after securing the licence, it would be followed by a concerted financial-services roll out in 2019 to its more than 60 million Nigerian subscribers.

Owing to this, the Chief Executive Officer, Financial Derivatives Company Limited, Mr. Bismarck Rewane, argued that the level of rivalry in the banking sector was expected to deepen this year.

According to him, because the industry was consolidating, the level of rivalry between competitors would intensify and when they compete, they reduce price and they give consumers more choice. â&#x20AC;&#x153;The banks are being cannibalised from the outside by the telecom companies (telecoms) because the telecoms are going to have mobile payment systems and they (the telecoms) have very deep pockets, so they invest significantly. â&#x20AC;&#x153;Telecoms are the ones that invest in capital expenditure. They invest on average between $1 billion and $2 billion annually on capital expenditure, which the banks can never afford to spend. â&#x20AC;&#x153;So, because of this, the banking industry is going to go through a major shake out. The banks are already under pressure, but the pressure would intensify in the coming years,â&#x20AC;? he added.

Telecoms are the ones that invest in capital expenditure. They invest on average between $1 billion and $2 billion annually on capital expenditure, which the banks can never afford to spend

Repositioning for Competition However, some chief executive officers (CEOs) of commercial banks in the country have allayed concerns about the planned introduction of the PSBs. They insisted that the proposed service banks would not eat deep into their market share in the retail banking space.

The CEOs indicated that even though the development would bring about increased competition, they would also not relent in introducing measures to ensure that the commercial banks remain dominant in the sector.

The Managing Director, Ecobank Nigeria, Mr. Patrick Akinwuntan, noted that while the PSBs could bring about increased competition, â&#x20AC;&#x153;competition in itself is not negative.â&#x20AC;?

He added: â&#x20AC;&#x153;If you actually talk of active financial participation, the percentage will be less than 30 per cent because you have various levels. â&#x20AC;&#x153;You have the banked, the underbanked and the unbanked. If you add the underbanked and the unbanked, we will be closer to 70 per cent. â&#x20AC;&#x153;And so the opportunity is there for more participants. We have demonstrated that in various countries like Ghana, Cote dâ&#x20AC;&#x2122;ivoire, Republic of Benin, Togo, Liberia, Kenya, Rwanda, Uganda, Cameroon, that we operate, that we have the ability to collaborate well with telcos that have participated in this space. â&#x20AC;&#x153;At the end of the day participants need a strong bank as the final repository. We look forward to collaborating with participants in this space. â&#x20AC;&#x153;We will embrace collaboration in the evolving market space that we are looking forward to in Nigeria. I think it is a bold step by the central bank, it is a commitment to bring financial services to every household.â&#x20AC;?

To the chief executive officer of Heritage Bank, Mr. Ifie Sekibo, the PSBs are essentially to assist banks in driving financial inclusion. â&#x20AC;&#x153;For us it is an enabler for the financial inclusion, it is not necessarily a competition. Yes, it is competition to the extent that we will compete with them in the financial inclusion space, our agency banking products will compete with their payment platform, but we all have very good payment platforms. â&#x20AC;&#x153;For most of us, our payment platforms have developed much more than they could even be able to compete with. â&#x20AC;&#x153;But for us, it is important that we have such organisations that helps the lower side of our economy where people put money under their beds or leave money in their stores and when fire comes it destroys both the money and their

investment and it is back to square one. â&#x20AC;&#x153;We need to eliminate that; we need to bring in as much people under the formal platform so we can measure them. Today we donâ&#x20AC;&#x2122;t have good measurement for how much money is in circulation in Nigeria because we donâ&#x20AC;&#x2122;t even know. â&#x20AC;&#x153;But if we can get these new institutions join us to expand the financial inclusion space we believe it is better for everybody and it is better for the economy.â&#x20AC;?

On the other hand, Guaranty Trust Bank Plc in its recently released 2019 economic outlook pointed out that the development would be net negative for the industry.

It, however, stated that the PSBs would be positive for customers, â&#x20AC;&#x153;as it has the capacity to improve customer service, increase product and service offerings, enhance financial inclusion and drive the adoption of a digitisation of banking services.â&#x20AC;?

GTBank noted that the banking industry continues to face increasing competition from fintech companies and other non-bank companies offering a wide range of financial services to the retail and MSME segments leveraging technology.

According to the financial institution, fintechs have been able to achieve a fair disruption of the retail banking landscape through the deployment of simplified banking services which has revolutionised the service offerings of commercial banks. â&#x20AC;&#x153;It is however believed that their capacity to effectively gain significant market share is limited without collaboration. â&#x20AC;&#x153;The relative ease with which fintechs approached and gained market share in the retail lending space, a hitherto unserved market, has prompted commercial banks to give this more focus. â&#x20AC;&#x153;We expect to see an increase in competition amongst banks to capture market share in the retail and micro/small business space over the course of 2019,â&#x20AC;? it added.

The CEO of the bank, Mr. Segun Agbaje, had stressed the need for banks to embrace digital transformation in other to create an entirely new banking experience that meet the demands and expectations of todayâ&#x20AC;&#x2122;s millennials. He urged banks to be innovative so as not to lose their market share to competitors in the digital banking space.

In addition, he advised commercial banks to build business models and create platforms to meet the needs of their customers always.

Therefore, there is need for commercial banks to deepen their customer relationships and enhance customer service delivery. In fact, there is need for banks to rebuild their organisations around the customer, simplify and structurally reduce cost and be innovative.

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Harvest Time for Stock Investors Equities market investors are now taking stock as companies announce their audited results for 2018 financial year, writes Goddy Egene Returns on investments in the stock market come in two major forms. It comes either in the form of capital appreciation or dividend pay-out. Capital appreciation occurs when the price of a stock rises and this can happen at any time of the year. On the other hand, dividend benefit comes when companies record profit and part of it is shared among the shareholders. And this occurs at the end of every financial year.

Hence, most investors look towards the end of the financial year of companies with high expectations and enthusiasm. That time is here again as companies announce their financial performance for the year ended December 31, 2018.

Analystsâ&#x20AC;&#x2122; Projections As the results begin to pour in, analysts at Vetiva Capital Limited have projected mixed fortunes for investors. According to Consumer Goods Analyst at Vetiva, Ifedayo Olowoporoku, â&#x20AC;&#x153;Driven by the seasonal nature of the industry, we expect stronger topline performance across consumer goods companies for the fourth quarter period, majorly supported by volumes amid stronger consumption levels in the festive period and also mildly buoyed by stronger commercial activity during electioneering season.â&#x20AC;?

Expatiating on the impact of the aforementioned factors, Olowoporoku, said: â&#x20AC;&#x153;For the full year (FY) 2018 period, however, we expect mixed performance across the top names in the market, with weaker profits to be reported by the brewers, food commodity and agro-allied producers, while much stronger bottom line figures are projected for the packaged foods and home and personal care players.â&#x20AC;?

Speaking on the Industrial Goods sector, Onyeka Ijeoma said: â&#x20AC;&#x153;We expect volumes to come in slightly weaker in the final quarter of the year, pressured by extended heavy rainfall in fourth quarter (Q4) as well as a heightened political environment.â&#x20AC;?

Although that profits in Q4â&#x20AC;&#x2122;18 are expected to come in lower quarter on quarterq/q, the report highlighted that FYâ&#x20AC;&#x2122;18 figures will still come in stronger than in the previous year, driven by a sturdier performance recorded in the earlier quarters of the year.

For the Agriculture sector, which is majorly represented by the oil palm producers listed on the Nigerian Stock Exchange, Vetiva is forecasting a largely unexciting performance for FYâ&#x20AC;&#x2122;18 numbers. â&#x20AC;&#x153;We expect lower top-line for the crude palm oil sector in Q4â&#x20AC;&#x2122;18, with global Crude Palm Oil (CPO) prices falling five per cent in the quarter. With CPO prices also generally lower through the year (19 per cent down y/y), we also expect a slowdown in FYâ&#x20AC;&#x2122;18 top-line across the industry.â&#x20AC;?

Reporting on the expectations on the banking sector, Vetiva said Tier I Banks will continue to outperform lower tier players, leveraging on their stronger balance sheets and liquidity positions to drive stronger margins. â&#x20AC;&#x153;On a broader industry level, however, gross earnings for the banking sector in FYâ&#x20AC;&#x2122;18 will be majorly driven by growth in non-interest income, as interest income remains constrained by negative credit growth.

Bottom line is also expected to be buoyed by significant y/y moderation in loan loss provisions amid the implementation of IFRS 9,â&#x20AC;? it said.

Early Results The results have started to come in and shareholders have begun to record dividend recommendations and payment dates. Transcorp Hotel Plc, Transnational Corporation of Nigeria Plc, Nigerian Breweries Plc and Newrest ASL Nigeria Plc released their results as at Monday. All of them recommended dividends for the shareholders.

Transcorp Hotel Plc recommended a dividend of 15 kobo per share compared with 12.4 kobo paid the previous year.

Transcorp Plc recommended three kobo, up from two kobo the previous year. Newrest

ASL Nigeria Plc is to pay 20 kobo dividend, while Nigerian Breweries Plc recommended a total dividend of N2.43, which is lower than the N3.13 paid the previous year.

A look at the results showed that Transcorp Hotel Plc, Transcorp Plc and Newrest ASL Nigeria Plc overcame the challenging operating environment to put smiles on the face of shareholders.

For instance, Transcorp Hotels Plc reported revenue of N17.424 billion in 2018, up from N13.843 billion. Profit before tax (PBT) rose 35 per cent from N3.7 billion to N5.0 billion while profit after tax(PAT) jumped 37 per cent from N2.7 billion to N3.7 billion. The directors of the company have recommended N1.14 billion as dividend, which translates to 15 kobo per share.

Commenting on the results, Managing Director/CEO of Transcorp Hotels Plc, Mrs. Owen Omogiafo said: â&#x20AC;&#x153;We are pleased with the overall performance of our company as evident in the year on year growth. This demonstrates the strength and quality of our business strategy to consistently provide world-class luxury services to all our guests and redefine the hospitality standards in Africa.â&#x20AC;?

According to her, the impressive growth in revenue can be attributed to the sale of the newly upgraded rooms in Transcorp Hilton Abuja. â&#x20AC;&#x153;We keep up the pace with global advancements in technology and are proud to

On a broader industry level, however, gross earnings for the banking sector in FYâ&#x20AC;&#x2122;18 will be majorly driven by growth in non-interest income, as interest income remains constrained by negative credit growth

say that Transcorp Hilton Abuja is the first hotel in Nigeria to launch the â&#x20AC;&#x153;ICE appâ&#x20AC;? a digital application that delivers personalised experiences to guests,â&#x20AC;? she said.

Similarly, Transcorp Plc, which is the parent firm of Transcorp Hotels Plc recorded revenue of N104.163 billion in 2018, up from N80.284 billion in 2017. PBT jumped by 82 per cent to N22.4 billion, from N12.3 billion in 2017, while PAT rose faster by 94 per cent to N20.6 billion, from N10.6 billion in 2017.

Commenting on the results, Chief Executive Officer of Transcorp Plc, Mr. Valentine Ozigbo, said they are proud to have ended the year on a high note. â&#x20AC;&#x153;We are proud to have ended the year on a high-note while sustaining a strong performance, which is a reflection of our sound business strategy. We will continuously strive to deliver significant value to our stakeholders while achieving our long-term goals,â&#x20AC;? he said.

According to him, â&#x20AC;&#x153;This result was achieved due to the increased revenue from the power and hospitality segments of the group. In addition, we were able to cut down on our loss from forex arising from financing activities by 30 per cent year-on-year as we experienced a relatively stable exchange rate during the fiscal yearended 2018, this no doubt impacted our Profit before tax as it soared 82 per cent year-on-year.â&#x20AC;?

Ozigbo explained that Transcorp Power Limited has continued to explore opportunities created by the eligible customer framework initiated by the federal government. â&#x20AC;&#x153;We are at an advanced stage of negotiations with a number of eligible customers, which will translate into transactions in the months ahead. Our hospitality subsidiary, Transcorp Hotels Plc, also maintained its history of profitability in 2018, displaying the impact of our recent $100 million upgrade at the Transcorp Hilton Abuja and the immense value placed on the hotelâ&#x20AC;&#x2122;s best-in-class hospitality services,â&#x20AC;? he said.

In his comments, the Chairman of Transcorp, Mr. Tony Elumelu, said: â&#x20AC;&#x153;We remain committed to our purpose of improving lives and transforming Nigeria by powering our industries and businesses while providing our local and international guests with unrivalled hospitality services. This is our way of creating sustainable value

for all our stakeholders.â&#x20AC;?

Newrest ASL Nigeria Plc ended the year with a revenue of N5.425 billion, showing an increase of 38 per cent, as against N3.92 billion in 2017. PAT soared by 285 per cent from N386 million to N1.48 billion.

However, Nigerian Breweries Plc recorded a decline in revenue and PAT. The company recorded a revenue of N324.4 billion, down marginally from N344.5 billion in 2017, while exercise duty rose from N21.271 billion to N25.837 billion. Cost of sale reduced from N201 billion to N197 billion, bringing gross profit to N126.9 billion compared with N143.5 billion the previous year.

Marketing and distribution expenses rose from N66.863 billion to N70.052 billion, while administrative expenses reduced from N21.748 billion to N20.785 billion. Similarly, Net finance cost fell to N7.529 billion compared with N10.491 billion in 2017.

The company ended the year with PBT of N29.4 billion, down 36.9 per cent from N46.6 billion in 2017 and PAT of N19.4 billion as against N33 billion the previous year.

The company explained that the 2018 results were adversely impacted by the increased excise duty rates that came into effect during the year and a challenging operating environment.

Impact of results It is believed the harvest season will attract more investors to the stock market as they move in to enjoy dividend being declared.

Also, the performance of companies is one factor that is expected to dictate the direction of the market this year.

According to analysts at Afrinvest (West Africa), after the conclusion of the elections, investors will place a premium on investment decisions based on fundamental analysis of companies as opposed to speculative trading. â&#x20AC;&#x153;Hence, we believe that performance of corporates will be a major consideration in 2019. Our expectation for corporatesâ&#x20AC;&#x2122; performances varies across sectors, with our optimistic expectations tilted towards the Banking sector, especially the Tier-1 players that have historically demonstrated resilience amidst tougher operating conditions. We also anticipate improved performances from consumer goods companies â&#x20AC;&#x201C;as economic conditions improve â&#x20AC;&#x201C;and oil & gas companies â&#x20AC;&#x201C;as earnings are projected to be buoyed by increased oil production and prices,â&#x20AC;? they said.

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Enhancing Africa-China Investments The increasing strategic partnership between Africa and China will expand cooperation in investment and trade between the continent and the Asian country, writes Oluchi Chibuzor

Xi Jinping

Business ties between China and Africa have seen extraordinary proliferation in recent years, with bilateral trade growing 30% annually, reaching a new high of US$222 billion in 2014. Chinese FDI to Africa continues to increase steadily, with a 14% year-on-year growth to US$4 billion in 2014.

The Central Bank of Nigeria (CBN) announced the signing of a $2.5 billion currency swap agreement with China in April 2018.

The CBN Governor, Mr. Godwin Emefiele, had then explained that the deal was brokered to boost speed, convenience, and volume of transactions between Nigeria and China as it would make the naira available for Chinese businesses and at the same time guarantee the supply of Chinese currency, Renminbi (RMB), for their Nigerian counterparts.

The bilateral agreement was expected to make it easier for Nigerian manufacturers, particularly small and medium enterprises (SMEs) in manufacturing and export, to thrive as it would be most useful for importation of raw materials, spare parts and simple machinery for businesses.

Understanding the benefits of this agreement or indeed what Nigeria can gain from improved relations with China requires a brief review of the recent history of the Chinese economy.

China currently produces 16 per cent of global GDP from figures available at the International Monetary Fund (IMF) website. With a GDP of $13.46 trillion, Chinaâ&#x20AC;&#x2122;s output is second only to the United Statesâ&#x20AC;&#x2122; $20.51 trillion but China is growing at a far faster pace than the US and other advanced economies.

In 1980 China, with a population of 981 million accounted for only 2.74 per cent of world output and its per capita income at $154, was less than one third of the average in Sub-Saharan African countries.

But today, according to the World Bank, since initiating market reforms in 1978, Chinaâ&#x20AC;&#x2122;s GDP growth has averaged nearly 10 percent a yearâ&#x20AC;&#x201D;the fastest sustained expansion by a major economy in historyâ&#x20AC;&#x201D;and has lifted more than 800million people out of poverty.

Now home to some 1.39 billion citizens, the countryâ&#x20AC;&#x2122;s GDP per capita is in excess of $6,000 and its growth since 1979 has been termed miraculous by economists in several quarters.

China also emerged Africaâ&#x20AC;&#x2122;s biggest trading partner in 2009 when it overtook the United States in trade volume with Africa, a status it has maintained to date. Trade between China and Africa which is a major source of foreign investment for China has surged from $10billion in 2000 to over $200billion in 2018. The main exports from China include machinery, electronics and textiles, while it imports crude oil, iron

Buhari

ore, cotton and other natural resources. South Africa, Angola and Nigeria are its biggest trading partners in the continent. So far, Africa exports mainly raw materials to China and imports finished goods, a situation that is ultimately not in the continentâ&#x20AC;&#x2122;s favour.

Beyond trade, China is also a major development partner to Africa. Chinaâ&#x20AC;&#x2122;s imprint can be easily found across infrastructure and development projects across Africa as it continues to provide loans for infrastructural development across African countries. These loan facilities are usually provided in exchange for access to the borrowing countryâ&#x20AC;&#x2122;s natural resources such as crude oil, copper, gold, etc.

In fact, China accounted for 22 per cent of all imports into Nigeria in the fourth quarter of 2017 and is Nigeriaâ&#x20AC;&#x2122;s number one import source according to figures from the National Bureau of Statistics.

Incidentally, China does not feature in Nigeriaâ&#x20AC;&#x2122;s top 10 export locations. Nigeria, in dire need of growth, has a lot to learn from the Chinese model of development as it desires to diversify its economy and advance from an exporter of primary items to an exporter of finished goods as China has done in the last three decades.

With the volume of business between Nigeria and China, particularly exports of spare parts and machinery to Nigeria, the currency swap deal is a welcome development as it removes

Trade between China and Africa which is a major source of foreign investment for China has surged from $10billion in 2000 to over $200billion in 2018. The main exports from China include machinery, electronics and textiles, while it imports crude oil, iron ore, cotton and other natural resources

the need to search for a third party currency (the US dollar) to consummate transactions.

However, there have been concerns from various quarters in the world about Chinaâ&#x20AC;&#x2122;s incursion into Africa with certain commentators particularly in western media claiming that China is virtually colonizing African states with skewed loan conditions and infrastructure development arrangements.

The narrative was recently fueled by rumors in social media of Zambia ceding its energy utility ZESCO, to China over its inability to meet repayment terms on a loan for the construction of its international airport.

The bilateral currency swap agreement is also a pointer that the CBN is deliberately pursuing and promoting conditions that will ensure that trade relations with China are mutually beneficial and that Nigeriaâ&#x20AC;&#x2122;s position is protected.

On the other hand, Africa needs to learn from China, how it succeeded in learning from the advanced economies of Europe and United States to become the economic powerhouse it is today.

This is what some economists have termed â&#x20AC;&#x153;the advantage of backwardnessâ&#x20AC;? (a strategy of opening up a nationâ&#x20AC;&#x2122;s economy to tap the potential of importing what the rest of the world knows and exporting what the world wants).

Nigeria is ripe for this and this agreement brings its actualisation even closer.

Apart from the CBN, other financial institutions have also been exploring ways to optimise the opportunities inherent in the bilateral agreement as well as trade relations with China in general Contribution of the Standard Bank Group Across Africa, the Standard Bank Group has been exploring ways to optimse the Africa-China business partnership through its Africa-China Banking Programme through which it has established centres in some African countries.

With the signing of the currency swap agreement, its Nigerian subsidiary, Stanbic IBTC Bank, had on the 13th of November 2018 officially opened its first Africa-China Banking Centre in Lagos.

The launch ceremony was performed by the Industrial and Commercial Bank of China, ICBC Africa Chief Executive Officer, Mr. Lubin Wang, Commercial Consul, Chinese Embassy in Lagos, Mr. Liu Jun Sheng, alongside the executive leadership of Stanbic IBTC Holdings PLC. Located in the Ilupeju area of Lagos, the centre will offer Nigerian and Chinese clients a business-to-business networking as well as personal advisory services and thereby help them to access and unlock opportunities in Nigeria-China trade.

Nigeria and China signed the bilateral currency swap agreement earlier this year with

the aim of improving the ease of doing business between both countries particularly with the intent of reducing the reliance on United States Dollars for trade between both countries. While this move was hailed by many, some economic experts had averred that the arrangement could not be optimally exploited by Nigeria unless it increased its exports to China.

The opening of the Africa-China Banking Centre (ACBC) by Stanbic IBTC and ICBC would bolster governmentâ&#x20AC;&#x2122;s effort at improving the ease of doing business with China.

But very importantly, it also provides a unique learning opportunity for the Nigerian business community along with its financial institutions and regulators. This is no doubt, an opportunity to experience firsthand, through interaction with Chinese entrepreneurs and business partners, the unique elements that they deployed in the economic overhaul of China that made it transition rapidly from a poor underdeveloped nation in 1978 to an upper middle-income country with the worldâ&#x20AC;&#x2122;s second largest GDP. This much was echoed during the launch of the ACBC when the Executive Director, Personal and Business Banking, Stanbic IBTC, Mr. Wole Adeniyi noted that: â&#x20AC;&#x153;the rate of development in Nigeria and Africa at large depends on the ability to identify opportunities, as well as build and maintain strategic relationships that increase the ease of doing business in Nigeria; we must aim to add value beyond just banking and look to impact partnerships that would wholly improve trade and the economy by extensionâ&#x20AC;?; perhaps a concise statement of the opportunity the ACBC provides to improve Nigeriaâ&#x20AC;&#x2122;s learning curve came from the Chief Executive of Stanbic IBTC Bank, Dr. Demola Sogunle, when he explained that: â&#x20AC;&#x153;as an African bank with global reach, Stanbic IBTC is uniquely placed to unlock African opportunities by accessing Chinese capabilities.â&#x20AC;?

First Bank of Nigeria, Standard Chartered Bank of Nigeria, Stanbic IBTC Bank, and Zenith Bank were earlier selected as the settlement banks for businesses and importers from both countries.

The first auction by the CBN took place on July 30, 2018, with a total of 69.86million Yuan sold.

Some Nigerian banks have since proceeded with training their customers, particularly SMEs on the operational procedures of the currency swap arrangement along with its benefits.

Findings show that a total of 118million Yuan was auctioned by the CBN in November 2018 showing improved demand and perhaps an improvement in the overall process.

Initiatives like the Africa China Banking Centre definitely will stimulate bilateral trade between Nigeria and China but more importantly it will further improve on the nationâ&#x20AC;&#x2122;s ability to exploit this window.

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Garba: Why Businesses Must Embrace Digitalisation The Chief Executive Officer, IPI Solutions Nigeria Limited, a digital transformation organisation, Adamu Garba, in this interview with Adedayo Adejobi, speaks on the essence of digital transformation to businesses in Nigeria. Excerpts ourselves as one of the digital transformation drivers in Nigeria. What we do is to identify all the components that will make sure your business secure, safely positioned into the digital environment, delivering the right result while also having the perfect privacy and security as conformable to the ISO 2070010 compliant. We are one of the first organisations in Nigeria to be GDPR compliant. We consider making our clients properly secured and positioned while also delivering the right service without having any bottleneck. We also help our clients mitigate such risks of cyber theft and security such that they donâ&#x20AC;&#x2122;t have troubles.

What is the unique essence of the fourth industrial revolution digital transformation?

Everything is becoming digitalised in every industry. This is the transformation from the physical or manual process to a more digitalised, optimised and productive process. So what we do at IPI is to see what we can do to transform business processes into digital form so that we can conform to the principle of this fourth industrial revolution.

Thereâ&#x20AC;&#x2122;s an industrial trend that is taking shape anchored by technology which is the cloud.

How would these impact businesses in Nigeria?

If you look at the world generally, hardly can any business survive without internet connectivity, without being online and without using technology to accelerate the business process to deliver the right outcome. The fourth industrial revolution is defined by digital ecosystem so it is very important that businesses embrace digitalisation. The revolution cuts across the banking system, oil and gas, telecommunications, manufacturing, hospitality industry and so on, everything has been digitalised. Our job is to pick your business process as it is manually and then convert it into something that is conformable to the digital transformation agenda which is the fourth industrial revolution cycle.

Would you say Nigerian companies who are heavy on technology are compliant?

To be sincere with you, the industries are having shortage of compliance and I can tell you why because we donâ&#x20AC;&#x2122;t have digital experts in the key decision making in this compliance structure, especially in the areas of corporate governance and compliance. We donâ&#x20AC;&#x2122;t have professionals taking decisions into these industrial sectors. Although the financial is highly regulated and compliant probably due to Central Bank of Nigeriaâ&#x20AC;&#x2122;s intervention, it makes it healthy. Until you have key digital experts sitting in the decision making areas of the country, you would barely have compliance in certain areas of Nigerian industries.

Are there possible implications for not catching up with the fourth revolution trend?

Sincerely, if you donâ&#x20AC;&#x2122;t transform, you lose getting out of business completely. What shapes global productivity is technology. Digital transformation enthrones the principle of democratisation, transparency, accountability, efficiency and effective service delivery to your customers in a faster and most effective way.

So what is the essence of cloud computing in the value chain of the fourth revolution?

Cloud computing is the main driver like the landlord of all digital transformation structures.

Itâ&#x20AC;&#x2122;s the space all digital transformations take place. So before you can digitally transform your business, you have to make sure you cloudify, meaning your business is actually cloud-framed that is how it actually starts becoming digitally transformed. Cloud is the main base, the backbone for digital transformation. So without cloud base you canâ&#x20AC;&#x2122;t digitally transform or position your business to sustainability in this fourth industrial world.

In this clime, thereâ&#x20AC;&#x2122;s the perception that digital is overhyped. Do you share the sentiment?

I donâ&#x20AC;&#x2122;t share that sentiment and I can tell you why today internet was birthed 30 years ago but half of global population is sitting on the internet. More than 7.3 billion people are currently on the internet, with more than two billion mobile devices connected

An emerging trend in the technology space is artiďŹ cial intelligence, is Nigeria likely to look that way soon?

Artificial Intelligence must come. Thereâ&#x20AC;&#x2122;s no way human beings can think faster than computer. It is a natural process we canâ&#x20AC;&#x2122;t fight. Artificial Intelligence is the operating system of the future, the same way we have windows, while block chain is the protocol of the future. These two things must take shape.

What trends are we likely to see in the technology space this year?

Although we are approaching elections in Nigeria, but technology is independent of any policy or election. Technology must move so what I see is there could be different adoption to the cloud. 2019 is going to be a digital transformation year for businesses in Nigeria.

Garba

to the internet today. We have trillions of authentications taking place every day. Is there anybody without digital identity or platform?

Those who own the future are those that have positioned themselves in this digital space.

Are there possible far reaching implications like cybercrimes and money-laundering associated with the digital revolution? If yes, how do businesses insulate themselves

from the shocks?

According to a research conducted recently, 50 per cent of the people on internet are weary about cyber security. So itâ&#x20AC;&#x2122;s important to have competency around the structures in trying to protect those things youâ&#x20AC;&#x2122;re trying to put on the cloud. Thereâ&#x20AC;&#x2122;s no joke about going into digital environment. Itâ&#x20AC;&#x2122;s about whose driving your process and guiding your entire operations, and thatâ&#x20AC;&#x2122;s why at IPI we position

For anyone who has been to your ofďŹ ce, the retinue of award plaques that ďŹ ll your ofďŹ ce is intimidating to say the least.

How does it feel being recognised by local, regional and global ďŹ rms across the world?

I actually feel that we have to do more. It means weâ&#x20AC;&#x2122;re indebted to some people. We must again, sustain the excellent spirit. I feel like we need to do much more we canâ&#x20AC;&#x2122;t betray their trust because they trust in our services.

CTL Rewards Dealers with DeliveryVans Ernest Chinwo in Port Harcourt One of the foremost pay TV firms in the South-south and South-east, the Communication Trends Limited (CTL), has rewarded eight of its authorised dealers with a Mercedes Benz Citan mini vans each.

Addressing the lucky dealers at the presentation ceremony in Port Harcourt, the General Manager of CTL Holdings, Solomon Igun, said the gifts was aimed at encouraging the dealers and to further popularise the

services of the company to win more subscribers. â&#x20AC;&#x153;The special Mercedes Citan brand, which comes with a carrier back, is to provide its users with executive convenient pick-up and delivery options,â&#x20AC;?

Igun said.

He stated that the reward to the â&#x20AC;&#x153;eight deserving dealersâ&#x20AC;? was on account of the fact that they met set targets over a period of time.

He stated that other gifts to be carted away by dealers across the country were deep freezers, gas cookers, flat screen television sets and washing machines.

â&#x20AC;&#x153;This same award was organised last year but only one dealer met the set target and carted home one of the cars. â&#x20AC;&#x153;It is expected that with this new level of empowerment, their businesses will be further boosted and expanded to help in employing more people and growing the economy of families in particular and the country at large,â&#x20AC;? Igun said.

He recalled that in 2015, CTL began an empowerment programme for its dealers, gifting them big screen TVs, generators and fridges all in

an attempt to assist them with ancillaries needed for their businesses to thrive. â&#x20AC;&#x153;Ever since, it has become our tradition to reward our dealers for meeting set targets,â&#x20AC;? he said.

He explained that CTL, which was launched in 1995, was the first Multichannel Multipoint Distribution Service (MMDS) provider in the South-south and Southeast of Nigeria, with nine branches currently spread across the country and has consistently championed and repositioned affordable cable pay TV service delivery in

the country over the years. â&#x20AC;&#x153;Entertainment and pay TV service delivery is taking a whole new approach and CTL is at the forefront of it all. Times and trends are changing; we are determined to remain relevant in our industry and that is why we are evolving and taking the business to a new frontier in Africa in particular and the world at large,â&#x20AC;? said. The Chairman of the occasion and Vice Chancellor of Ignatius Ajuru University of Education (IAUE), Rumuolumeni, Port Harcourt, Prof. Ozo-Mekuri Ndimele, in his remarks,

commended CTL for being resolute in surviving the competition in the industry.

Ndimele, who was represented by the Dean, Post Graduate School of the University of IAUE, Prof.

Daniel Ogun, encouraged the company to remain fresh and innovative; bringing up new and fresh stations to attract more customers. Rivers State Commissioner for Information and Communications, Emma Okah, in his address, congratulated CTL for its doggedness and courage to survive the competition in the communications industry.

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5 ) * 4 % ": t WEDNESDAY, FEBRUARY 20, 2019

5 ) * 4 % ": t WEDNESDAY, FEBRUARY 20, 2019

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EDUCATION Election: Planning EfďŹ ciently for Nigeriaâ&#x20AC;&#x2122;s Future Leaders Following the postponement of the general elections by the Independent National Electoral Commission, which had triggered anxiety among parents and schools, some stakeholders are of the view that the countryâ&#x20AC;&#x2122;s leaders should be efficient and considerate in their planning to avoid compromising the future of the children. Funmi Ogundare reports

The future of Nigerian students must be secured

S

ince Nigeria returned to democracy in 1999, the general elections in the country has always been characterised by one flaw or the other leading to its postponement by the electoral umpire. There is always the fear of violence, which has made Nigerians, including parents with children to travel from their place of abode to another location.

On February 16, 2019, when the presidential and national assembly election was to hold, the Independent National Electoral Commission (INEC), in the dead of the night when most Nigerians were asleep, announced the postponement of the general elections earlier scheduled for that day and March 2, to February 23 and March 9, 2019.

Already, most public and private schools were shut a week before the proposed day of election and students were sent home compulsorily, with the attendant cost to the parents in travelling expenses. The postponement has affected schoolsâ&#x20AC;&#x2122; academic calendar as the Lagos State Ministry of Education for instance, imposed a compulsory half term dates that all public and private schools in the state should go on a three-day break starting from February 13 to resume on February18.

Perhaps thinking of the cost this might be to parents and schools, the Deputy Governor.

Dr. Idiat Adebule had issued another directive following the postponement of the election dates

by INEC, where she informed all stakeholders and the public about the review of the 2018/19 academic calendar.

She stated that all schools are expected to close on Friday February 22 and resume on Monday 25, adding that the second leg of the break will be on March 8, 2019 and schools are expected to resume on Monday Match 11, 2019.

According to her, â&#x20AC;&#x153;all public and private schools, school leaders and associations are implored to take note and adhere strictly to the new school calendar.â&#x20AC;?

The measure Adebule affirmed is to ensure that the academic and future of the students are not compromised by the alteration of the election time-table.

Although some stakeholders commended the Lagos State government for being proactive in

its decisions, they expressed concern that schools had to shut down because of the election.

According to a parent, Mr. Babatunde Ajao, â&#x20AC;&#x153;this is one of the reasons why I like Lagos State government, they are always proactive in decisions, the policy makers in Ogun State are still politicking or sleeping.â&#x20AC;?

Another parent, Mr. Segun Adeleye said: â&#x20AC;&#x153;One cannot rely absolutely on this government. Their children are probably abroad. The situation on Monday will determine if children should be put on the roads for schools. As at 10pm of February 15 when people were going to bed they never knew there would be cancellation of polls.â&#x20AC;?

Mrs. Onene Obari-Osoko said the directive by the state government would only work where all the students reside in Lagos and environs. â&#x20AC;&#x153;Arenâ&#x20AC;&#x2122;t they aware that most if not all the private schools have students from across the country? The students should just observe all the holidays now and resume after the elections to complete school activities for the rest of the term.â&#x20AC;?

Mrs. Tosin Ogunsakin said, â&#x20AC;&#x153;Imagine picking my kids from boarding school and returning them again without any consideration if the parents work or not. This is not fair at all.â&#x20AC;?

The Head of School at a sixth form college in Lagos, Mrs. Anne Bessong, who expressed hope that other states will put in place a similar directive as done by the Lagos State government said: â&#x20AC;&#x153;It is bad enough that schools had to shut down for the election, postponing it again is going to come at an extra cost for both schools and parents.â&#x20AC;?

She opined that programmes like inter-house sports and school trips are either going to be rescheduled or cancelled, adding that students in boarding houses away from home are also going to bear the brunt travelling back and forth as they need to stay with their families during the elections for security reasons. â&#x20AC;&#x153;In preparing for examinations, this will bring about unwanted distractions,â&#x20AC;? Bessong said.

She said teachers will have less time to cover the set scheme and syllabuses, adding, â&#x20AC;&#x153;so, longer hours after school is likely to be the lot of those teaching older students in final year classes;

primary six, year nine, year 11 and SS three.s â&#x20AC;&#x153;Most private schools may take the initiative of cancelling their mid-term break if they have not already had it, but public schools may not be able to; so that means even lesser time to meet up with the calendar for the term and subsequently, it may spill over to the next term.â&#x20AC;?

The Administrator of The Foreshore School, Ikoyi, Miss Oyindamola Egbeyemi expressed concern about the two half term breaks schools have to comply with, when typically there should be one break in a term. â&#x20AC;&#x153;This disrupted schedules during the second term which is usually the shortest school term for the academic year. At least two days of learning were lost and school heads and administrators had to rework their plans to ensure that this did not affect the childrenâ&#x20AC;&#x2122;s education. â&#x20AC;&#x153;While educators would try to understand that changes were due to uncontrollable circumstances, they would not deny that this is quite a disruptive time.â&#x20AC;?

Egbeyemi said children are learning indirectly from the countryâ&#x20AC;&#x2122;s leadership and are also a product of their environment; they should be able to imbibe good values from the leaders. â&#x20AC;&#x153;We must remember that children are impressionable and become a product of their environment. If they live in an environment where the leadership is perceived to be inefficient, ineffective and inconsiderate in their planning, they would think that this is the normal. They may inevitably imbibe such values (or lack thereof) in their own way of doing things and this is not a good trait that the future leaders of our country should start to learn,â&#x20AC;? she stressed.

A lawyer, Mr. Ebun Adegboruwa appealed to all Nigerians to be patient and give room for a proper election at the times rescheduled for it

by INEC, adding that â&#x20AC;&#x153;no sacrifice should be too great for us as a people in order to get the country to the destination of our dreams, whilst we await the immediate action of the National Assembly on the issue.â&#x20AC;?

For students in tertiary institutions, whose academic calendar had already been altered by their lecturersâ&#x20AC;&#x2122; prolonged strike, postponement of the elections will probably worsen their situation.

A former Vice-Chancellor of Obafemi Awolowo University, Ile-Ife, Professor Michael Faborode said usually, universities are conscious of the security implications of having students on campus during elections, based on previous experience, hence most often steps are taken to keep students away. â&#x20AC;&#x153;But then some provisions are made for those who registered on campus (usually very few) to have the opportunity of voting, so as not to be totally disenfranchised. I am sure we shall be able to manage this situation better as our democracy matures and violence and wrong use of youth power during elections are minimized. â&#x20AC;&#x153;For now, some politicians exploit some weakness in our youth, especially students, either as organised students unions or individuals, to recruit, entice them with money and encourage them to serve as thugs, or what some called in modern parlance as special or security assistants. Gone were the days when youth wings of parties were properly organised, guided and properly mentored to be observant successors being properly groomed.â&#x20AC;?

He said the country needs political reforms that would restore orderly development of ethical political conduct, adding that as progressive youth wing members, diligent mentees and budding politicians, there is nothing wrong fundamentally with youths and students engaging in politics.

The don described the scenario during the current election period leading to the postponement of the elections as a bit different, saying that the strike by ASUU that lingered for a long time had just been called off and many institutions had not formally recalled their students. â&#x20AC;&#x153;Even those who did were only trying to minimise the losses that would affect their calendar, which was already distorted. They were conscious of the reality that many students, if not most, prefer to be at home where they registered during elections. Only very few registered on campus. So really the impact of the postponement was not significantly different on students and institutions much more than the general populace. Donâ&#x20AC;&#x2122;t forget that schools at the other levels, secondary and primary had been forced to proceed on some contrived break, which would only be marginally extended because of the postponement,â&#x20AC;? Faborode said.

33

T H I S D AY Ëž Í°ÍŽË&#x153; Ͱ͎ͯ͡

EDUCATION

Stakeholders Seek Ways of Improving Girlsâ&#x20AC;&#x2122; Access to Quality Education in Bauchi Segun Awofadeji in Bauchi Professor Mohammad Kirfi of the Federal University, Kashere in Gombe State has appealed to traditional rulers to use their positions to evolve strategies to address the issue of low girlchild enrolment and retention in schools.

Kirfi made the appeal in a keynote address at a one day state level consultative conference on enrolment drive campaign for out of school children, organised by the Bauchi State Council of Traditional Leaders, in collaboration with SUBEB and UNICEF, Bauchi Field Office.

The university don said traditional rulers have the capacity to increase the enrolment of all school aged children, particularly the girl child, adding that with the contribution of traditional institutions, the challenges affecting the development of the health sector have been addressed and urged them to do the same in the education sector.

In his remarks, the Emir of Bauchi, Alhaji Rilwanu Suleimanu Adamu pointed out that similar campaign had been conducted in Kaduna State as part of effort to find lasting solution to the menace of out of

school children in the country, particularly in the northern Nigeria.

The emir, who tasked all stakeholders to collaborate with his emirate in curbing the menace of out of school children in the state, explained that the large number of the out of school children in the north-east and in the state in particular, necessitated the involvement of traditional rulers in the enrolment drive campaign.

He said already, Bauchi Emirate Council has adopted regular inspection of schools to monitor the attendance of enrolled children and it will engage other stakeholders to achieve the set objectives.

According to him, despite the governmentâ&#x20AC;&#x2122;s huge investment in the education sector, a lot need to be done, especially at ensuring that only qualified teachers are employed.

Adamu therefore called on the people of the state to support and collaborate with the relevant authorities for the educational development of their children.

In a paper, Professor Bala Sulaiman Dalhatu of the Abubakar Tafawa Balewa University, Bauchi, who traced the importance of girl child edu-

CIMA Unveils Syllabus to Bridge Digital Skills Gaps Funmi Ogundare The Chartered Institute of Management Accountants (CIMA) recently unveiled its syllabus that would enable professional management accountants and finance professionals to enjoy a more robust and all-encompassing certification.

Following the review, the new syllabus will now enable students acquire new skills and competencies that are relevant to a digital market place.

The accounting management body in a statement said the updated professional qualification and CGMA competency framework address emerging digital skills gaps and that the change was necessitated by a study it carried out, which showed a clear need for a review.

According to CIMA, over the course of 18 months, it consulted finance professionals from over 2,000 public and private organisations in 150 countries, including through face-to-face interviews, roundtables and a global survey. â&#x20AC;&#x153;The goal was to bring together different organisational views to understand and build a composite picture of the role finance professionals play in business, identify competencies and skills employers expect and map how these are changing in a digital world.â&#x20AC;&#x153; The study titled â&#x20AC;&#x2DC;Reinventing Finance for a Digital Worldâ&#x20AC;&#x2122;, according to the statement, showed that over 50 per cent of finance leaders globally say the competencies

of their teams must change significantly over the next three years as new technologies take over traditional tasks. The upside is that businesses expect a stronger focus on value creation with the automation of repetitive tasks.

The Executive Vice-President, Academics, Association of International Certified Professional Accountants, Dr. Noel Tagoe, who oversaw the unveiling, highlighted the three key areas that were updated and the expected benefits to professionals. â&#x20AC;&#x153;The updated CIMA Professional Qualification focuses extensively on digital finance to deliver finance professionals who can harness the full power of technology and data to create and add organisational value while supporting businesses to mitigate new risks, including cybersecurity threats.â&#x20AC;?

He said the CGMA Competency Framework was also updated which both adds and incorporates the new area of digital skills to the four core existing knowledge areas of technical, business, leadership and people skills.

Tagoe said the third is the digital mind set professional development course to enhance competencies and skills through a free CPD bundle based on automation, blockchain, cybersecurity, data analytics and ethics.

He added that the body will continue to explore innovative ways to enhance the learning experience of its students to match new skills and competencies required in the market place.

cation to societal development, called for automatic employment for female teachers in order to encourage their enrolment.

In the paper, â&#x20AC;&#x2DC;How Social Norms and Cultural Barrier Impede the Access of Girl-child to Educationâ&#x20AC;&#x2122;, Dalhatu enjoined stakeholders to work towards influencing change of attitude and behaviour among parents and community members to

ensure the education of their children, especially girls.

The Education Officer, UNICEF, Bauchi Field Office, Mr. Raphael Aiyedipe said UNICEF is committed to ensuring the provision of quality education for all and expressed hoped that with the involvement of traditional rulers in the campaign of girl child education, successes would be

achieved.

The Chairman, State Universal Basic Education Board (SUBEB), Professor Yahaya Yero said in an attempt to address the out of school children phenomenon, the federal and state governments have embarked on enrolment drive campaign to create awareness on the menace.

He noted that the large

number of out of school children has become a threat to attainting the Sustainable Development Goals in the country if measures are not put in place.

Yero also recalled that in 1999, the federal government had launched the Universal Basic Education programme with the aimed of achieving compulsory free and universal basic education.

From left: The Director, Education District III, Ikoyi, Lagos, Mrs. Aderonke Ajayi; Rotary Club District Governor, Kola Sodipo; and the President, Rotary Club of Lekki Phase I, Dimeji Ajayi, with other members during the inauguration of water project at Ebute Elefun Secondary School, Sura, Lagos Islandâ&#x20AC;Ś recently

LAMDA Examiner Assesses Greensprings Students A seasoned London Academy of Music and Dramatic Art (LAMDA) examiner, Joanna Foster, recently visited Greensprings School to examine 111 students across both campuses, who sat for the LAMDA examination.

LAMDA is one of United Kingdomâ&#x20AC;&#x2122;s oldest and most respected awarding bodies. The academy has been offering practical examinations in communication and performance subjects to students and adults for over 130 years. The academy has helped hundreds of thousands of candidates of all ages and abilities to develop lifelong skills.

LAMDA is also a threeyear full-time professional training school for actors and actresses in London.

It is the home of the LAMDA exams for students from age five right up to adulthood. The training and examinations cover areas in communication, performance and musical theatre, among others.

Describing her experience at Greensprings, especially in her interactions with the students, Foster stated that â&#x20AC;&#x153;the students are very polite and have done very well in the

exams. The standard of education at Greensprings is excellent.â&#x20AC;?

Foster, who has been a LAMDA examiner for five years, revealed that â&#x20AC;&#x153;there is a big team of examiners at LAMDA, nearly 200 and the list is rapidly growing.â&#x20AC;?

When asked the relevance of the LAMDA certificate, she said: â&#x20AC;&#x153;As students go through the LAMDA exams, they can build-up on their Universities and Colleges Admissions Service (UCAS) points which enables them to get easier admission into UK universities.â&#x20AC;?

Similarly, a secondary school music teacher at Greensprings School, Lekki Campus, Mr. Grant Maclean explained that â&#x20AC;&#x153;LAMDA improves a childâ&#x20AC;&#x2122;s communication and acting skills thereby making the child more confident in his/her approach to life, as well as developing the ability to speak eloquently when engaging with people. â&#x20AC;&#x153;In a nutshell, LAMDA is excellent at instilling the right foundation of learning to the childâ&#x20AC;&#x2122;s educationâ&#x20AC;?, he added.

Greensprings School is said to be the first centre for LAMDA in Nigeria, among other firsts.

Rotary Club Provides Safe Drinking Water for Lagos School Motivated by the need to provide access to safe drinking water, which is critical to human health and development, Rotary Club of Lekki Phase I, RI District 9110, recently inaugurated a water project at Ebute Elefun Secondary School, Sura, Lagos Island to promote and encourage good health and well-being among students and staff in school.

The project, which was officially inaugurated by the District Governor, Rotarian Kola Sodipo, was courtesy of Rotary Club of Lekki Phase 1, with the support of the Rotary International through the Nigeria National Polio Plus Committee (NNPPC).

Speaking at the event, the National Coordinator of NNPPC, Tunji Funsho explained that the collaborative initiative was designed to create awareness of the importance of adequate water intake among students as part of a healthy and active lifestyle. â&#x20AC;&#x153;Access to safe drinking water will create a plentiful source of low cost refreshment throughout the day for the students.

It will encourage good health and wellbeing among students, staff and

others, as well as reduce tiredness, irritability and distraction from thirstâ&#x20AC;?, he said.

In his remarks, the President, Rotary Club of Lekki Phase 1, Dimeji Ajayi stated that the water project would have a positive effect on studentsâ&#x20AC;&#x2122; concentration throughout the day and would demonstrate to parents and the local community that the school values studentsâ&#x20AC;&#x2122; health and wellbeing.

Lauding the initiative, the Director, Education District, Mrs. Ajayi Aderonke, who represented the Lagos State Ministry of Education, thanked the club for providing water free of charge, adding that safe drinking water is critical to human health and development, yet millions of people lack access to safe drinking water from an improved source, many of these in sub-Saharan Africa.

On her part, the Principal of the school, Mrs. Omolara Oyebanji said the project would encourage consumption of water by the students and staff, adding that the school would ensure that the water remains hygienic, available and maintained.

34

T H I S D AY ˾ Ͱͮ˜ Ͱͮͯͷ

NNPC Boss Awards STEM Scholarships to 21 Pupils Oluchi Chibuzor As part of efforts to enhance the participation of the girl-child in Science, Technology, Engineering, Mathematics (STEM), the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Maikanti Baru has awarded scholarships to 21 pupils in Bauchi State.

The award ceremony, organised by the Association of Professional Women Engineers of Nigeria (APWEN), in collaboration with NNPC with the theme ‘Invent it-Built it’, was to encourage recipients to pursue a career in the field of STEM.

Speaking at the programme, Baru said no nation has become powerful and developed without the encouragement of STEM as it gives birth to invention, adding that science is life.

“Science is life, STEM are economic drivers and engineers are problems solvers.”

He noted that 21 beneficiaries were selected out of 100 pupils for scholarship from primary school to university through simple science experiments.

He admonished the winners to maximize the opportunity as it will influence their chances of surviving in the organisation like NNPC, which is competitive and

employs thousands of scientists and technologists.

“My dear children, the study of STEM requires you to be diligent and have an eye for details, it requires you to possess the ability to multi-task all of which the female folks are known for, as no nation has become powerful without STEM. “I am quite pleased because you young girls will have the opportunity to see women who are engineers and know that if they can do it, you can also do it and even better and we are here today to present to the 21 winners their one year tuition.

“You too can work there when

you grow older if you take your education seriously from primary to getting engineering degree from the university,” NNPC boss said.

On the partnership with APWEN, he re-instated the resilience of executives who have spearheaded the initiative since inception of the programme in 2018, saying that it was for this reason that “when APWEN informed us that they would be launching this Invent it-Built it, we supported them.”

He urged the school management to maintain the ongoing science laboratory at Sarki Ahmad Primary School, which is 70 per cent completed, for upcoming pupils to use.

L-R: The Assistant General Secretary, Association of Professional Women Engineers of Nigeria (APWEN), Ramatu Aminu; APWEN President, Maryam Bala; Felicia Nnenna Agubata and Fatima dressed in Fulani attire, gift from the Emir of Misau, Alhaji Ahmad Sulieman, during the Dr. Maikanti Baru engineering scholarship for girls award/ cheque presentation ceremony at the Emir’s Palace, Misau, Bauchi State... recently

56,000 Students Write Cowbellpedia Maths First Stage Exam About 56,000 students have demonstrated their desire to become the Cowbellpedia Maths champion, as they participate in the qualifying examination of the 2019 Cowbellpedia Secondary School Mathematics TV Quiz Show, sponsored by Cowbell, the flagship brand of Promasidor Nigeria Limited. The first stage exam held on February 9 in designated centres across the country.

This year’s figure represents a 27.2 per cent increase over the 44,000 participants recorded in 2018. Out of the number, the best 108 will proceed to the next stage of the competition, which is the

TV quiz show.

Officials of each state ministry of education and the National Examinations Council (NECO) supervised the two-hour examination at various centres.

Some of the candidates expressed optimism about their ability to make it to the next stage of the competition. A senior secondary two (SS2) student of Iponri Grammar School, Lagos, Emmanuel Adeoti said he hopes to advance to the TV quiz show stage regardless of the hurdles ahead of him. “The road to the quiz show may be difficult, but I am sure I will be among the

successful participants.”

“I prepared very well for this exam and I look forward to being at the TV quiz show,” said Musiliu Adio of Community Junior Grammar School, Lagos.

Assessing the conduct of the candidates at his centre, a NECO official, Charles Aneke said although it was an arduous task getting the candidates to follow instructions, the exercise was a success.

An official of the Lagos State Ministry of Education, Benedict Adegoke also expressed satisfaction with the general conduct of the candidates. “They were

all seated before exam began. It wasn’t a case of having to run after one student or the other.”

Some of the teachers also commended the organisers of the competition for sustaining it, saying that it has continued to spur the desire for excellence among students.

A teacher, Abimbola Afolarin said: “Looking at the performance of my students today since the commencement of Cowbellpedia, it has been a great leap from good to better. Each student wants to outperform the one before him or at the very least, maintain the same good record.

The Foreshore School Holds Sports Contest Funmi Ogundare The Foreshore School, Ikoyi recently held its fourth interhouse sports competition with the theme ‘Friendship, Fun and Fitness, aimed at enhancing the children’s wellness, health and learning.

The competition saw the pupils participating in sports activities like three legged race, picking of balls, plate balancing, filling the bottle, throwing the balls in the basket, egg and spoon race, relay race, sack race, among others.

The Administrator of the school, Miss Oyindamola

Egbeyemi described sports as an aspect of learning, saying that it teaches pupils discipline in activities as a result of the rules.

“In sports there are lots of rules. In it, you build your selfconfidence, level of discipline and self-control. You also build a competitive spirit which brings about a healthy competition among people. We understand that everybody’s, strength might not be the same and people have weaknesses in other areas, but where your skills lie, learning has to leverage them.

“Learning also teaches one to be better coordinated in one’s physical abilities and exposes

the skills you never thought you had. For instance, some schools especially in the US give people scholarships. So it gives people opportunities as well to go to school and opens doors to a lot of things.”

She said the competition has taught the school how to plan better and ensure that the children work together in harmony. “It has built a better competitive spirit in them which is really of good benefit for everyone. Parents too come in and participate with their children. It is an avenue for them to network with each other.”

Asked how often the school engages in sports, Egbeyemi said, “we work with our timetable. For instance, swimming is compulsory for the primary school because it is a life skill. All children do physical education; it is part of the curriculum. They also learn the physical and safety aspects. They learn about health and fitness, the right foods to eat. It is all encompassing.”

The Chairman of the occasion and parent, Mr. Akoh Ochai, who stressed the importance of sports to learning, thanked the management of the school for imbibing the spirit of sportsmanship in the children.

KEHINDE OMORU www.kayomoru.com

IT’S ONLY A PHASE, LIVE IT!

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T H I S D AY Ëž Í°ÍŽË&#x153; Ͱ͎ͯ͡

35

LASPOTECH: The Facts about CONTISS 15 Migration Olanrewaju Kuye The agitation for the implementation of Consolidated Tertiary Institution Salary Structure (CONTISS 15) migration by the three staff unions in Lagos State Polytechnic (LASPOTECH) is an issue that has thrown the institutionâ&#x20AC;&#x2122;s community into unrest since 2016.

The CONTISS 15 migration is the movement of staff from one salary grade level to the next level provided the staff meets the necessary conditions stipulated by the National Board for Technical Education (NBTE).

The conditions are that such staff must have been employed before August 1, 2009. Secondly, the staff must possess the basic academic/ professional or both qualifications applicable to his/her competence in addition to compliance to institutional policy and thirdly, such staff must have spent a minimum of two years on the current position before the year of migration.

The lawlessness of the three staff unions and threats to the lives of members of the governing council along with the principal officers of the polytechnic got to a peak that during a session of the governing councilâ&#x20AC;&#x2122;s meeting; the members were rounded up and locked up at the boardroom with threats to set ablaze the entire building with the members inside. Charms were freely displayed and urine poured on the heads of elderly council members sent to appeal to them. Power supply was cut off and all membersâ&#x20AC;&#x2122; cars vandalised.

Following these threats, the Office of the Special Adviser to the Governor on Education in order to save lives and property, directed the governing council to implement the CONTISS 15 migration scheme in order to pacify the rampaging union members that held the council members hostage for several hours. This implementation was on the terms presented by the three staff unions which were later found to be defective.

The faulty implementation of the CONTISS 15 started immediately in October 2016, notwithstanding, the three staff unions continued to agitate for the payment of the 87 months arrears calculated to N1.7 billion which was a financial burden to accommodate.

Management at this instance sent two members of staff to NBTE in Kaduna to seek clarification on the policy implementation of CONTISS 15 migration, specifically, a member

The Lagos State Governor, Akinwunmi Ambode of the unions and another, a deputy registrar in the personnel department on behalf of management.

Ironically, the two gentlemen sent to NBTE returned with two conflicting reports. The representative of the unions came with a point to point movement implementation which was their position for October 2016 defective implementation, while the representative of management insisted that the implementation was to be in line with the normal and usual promotional movement as it was done in 2004 when the polytechnic implemented the alignment of nomenclature policy of 1998 of Lagos State Government.

Based on the conflicting positions of the representatives, the Office of the Special Adviser to the Governor on Education wrote directly to NBTE seeking clarification on the implementation of the said NBTE guidelines.

The NBTE in response sent the policy guidelines directly to the office of the SAE which then sent the policy papers to the governing council and other relevant agencies of government for consideration and recommendation.

On receiving the NBTE document from the office of the SAE, the governing council constituted a committee with representatives

Firm Commences 2019 Graduate Trainee Programme Axxela Limited, subSaharan Africaâ&#x20AC;&#x2122;s preferred fast-growing gas and power portfolio company has commenced its 2019 graduate trainee programme for graduates to join its vibrant workforce in delivering innovative solutions to its customers.

According to the Chief Executive Officer, Mr. Bolaji Osunsanya, â&#x20AC;&#x153;the exceptional quality of our personnel remains a valuable competitive edge, which we optimise through training and development.

To build on this advantage and continue to provide inventive energy solutions for our customers, we are recruiting creative problemsolvers who can think strategically, collaborate effectively and implement efficiently.â&#x20AC;?

Speaking on the graduate trainee programme, the HR Manager, Ngozika Achebe said: â&#x20AC;&#x153;The graduate trainee programme continues to be a proven platform for talent acquisition and succession management in Axxela.

and disrespect to constituted authority, the intervention of the high power executive council led by the deputy governor in the company of the secretary to the state government and the special adviser to the governor on education.

Having disregarded the interventions of the deputy governorâ&#x20AC;&#x2122;s team and that of the State House of Assembly, the Lagos State Executive Council proceeded to deliberate on the governing councilâ&#x20AC;&#x2122;s presentation on the NBTE documents and released its decision which was communicated to the polytechnic management for implementation effective July 1, 2018, but just commenced by the polytechnic due to administrative inconveniences and court directive.

The management hereby states unequivocally that no staff of the polytechnic was being demoted as claimed by the unions.

The state government in an act of magnanimity overlooked all previous payments made in error since October 2016 to staff involved in the migration scheme due to the defective position of the unions before the approved implementation date of the state executive council.

â&#x20AC;&#x153;Our people are the lifeblood of our business and so we seek to attract the best talents and invest in their careers to enable them positively impact our business value. We are targeting candidates who are exceptionally passionate about making a difference within the energy landscape.â&#x20AC;?

The programme is open to interested candidates age 25 or below, who have attained a bachelorâ&#x20AC;&#x2122;s degree with a minimum of second class upper in Engineering, Accounting, Business Administration or Economics. Candidates must have completed Nigeriaâ&#x20AC;&#x2122;s one-year National Youth Service Corps programme with no more than three years of working experience as at the time of their application.

For more information on Axxelaâ&#x20AC;&#x2122;s 2019 graduate trainee programme, interested candidates should visit Axxela. workforcegroup.com. The application is open from February 6 to 20, 2019.

from governing council, management and the three staff unions to consider the document as directed by the state government. At the said meeting, the unions insisted that the polytechnic should implement the NBTE CONTISS 15 migration guidelines holistically even though management and governing council were not favourably disposed to the unionâ&#x20AC;&#x2122;s position for they believed that it should only be for officers on CONTISS 11 downwards and CONTISS 12 upwards (where necessary) according to NBTE. To give peace a chance again the governing council/ management obliged.

This position was part of the collective resolutions of the governing council, management and the unions that was forwarded later to the state government for consideration and necessary approval in 2017.

The unions at several intervals embarked on strike actions that disturbed the peace of the institution. This forced the state government to institute a court action against the unionsâ&#x20AC;&#x2122; consistent strikes.

The State House of Assembly intervened at the unionsâ&#x20AC;&#x2122; instance but they were impatient to wait for the resolution before embarking on their usual trade mark; strike action.

They also waved off, in acts of arrogance

Steps taken by the polytechnic management Firstly, there have been series of meetings between the staff and management to explain the position of CONTISS 15 migration.

Secondly, letters have been written to every member of staff involved in CONTISS 15 migration by the registrar. Thirdly, implementation of CONTISS 15 migration is in accordance with the NBTE guidelines and as directed by the Lagos State. Fourthly, government and management directed all staff who may have issues on the implementation to forward their complaints to the registrar for necessary action.

What LASPOTECH governing council/ management is doing to cushion the effects of the realignment There had been immediate promotion of staff that were due for the 2016/2017 appraisal year; immediate commencement of 2017/2018 appraisal; immediate implementation of annual increments from 2016 till date; as well as payment of three months arrears of promotion to eligible staff.

-Kuye is the Deputy Registrar, Information and Public Relations, LASPOTECH

Chris Ikomi Essay Contest Attracts over 3,400 Students Omon-Julius Onabu in Asaba A total of 3,426 post-primary school students in Delta State participated in the 2018 edition of the annual late Chris Ikomi Memorial Essay Competition, organised by the NNPC/Chevron Joint Venture, in partnership with the Delta State Ministry of Education.

The General Manager, Policy, Government and Public Affairs, Chevron Nigeria Limited, Mr. Esimaje Brikinn, who disclosed this at the award ceremony in Asaba recently, said the figure represented a significant increase from the 2,352 students that participated in the

previous edition in 2017.

Brikinn, who was by Mr. Kayode Adeboye, Chevronâ&#x20AC;&#x2122;s Communications Coordinator, said the winner in the junior category was Master Duoye, a JS3 student of St. Brendan Catholic College, Bomadi.

Speaking on the theme, â&#x20AC;&#x2DC;Nigeria of My Dreamâ&#x20AC;&#x2122;, Brikinn explained: â&#x20AC;&#x153;This theme enables our young scholars to exercise their fertile minds to envision an improved Nigeria and project their hopes and aspirations for the future.

It is our desire that the theme would stimulate the youths to work towards a better Nigeria.â&#x20AC;?

While thanking Delta State for its consistent support and encouragement of the 17-year-old annual competition through its ministry of education, the general manager expressed the companyâ&#x20AC;&#x2122;s unrelenting effort to contribute meaningfully to the development of Nigeriaâ&#x20AC;&#x2122;s education sector because of the invaluable place of quality education towards the overall development of the country. â&#x20AC;&#x153;We have demonstrated this commitment to qualitative education down the years through investments in educational infrastructure, sponsorship of manpower development programmes and

provision of scholarships. â&#x20AC;&#x153;Our corporate belief is that education remains a veritable tool for personal and societal growth and sustainable development. We take delight in the fact that our contributions to education are helping to improve the ability of Nigeria to develop quality manpower in different fields.

To you, our esteem awardees today, on behalf of the NNPC/ Chevron Joint Venture, I say a big congratulation for your excellent performance. It is always fulfilling every time we come together to recognise those who have excelled in the competition.â&#x20AC;?

Queens College, FSTC Get Technology Experience Centre Jonathan Eze Skool Media, an education technology consultant company focused on revamping the education sector has donated a world-class technology experience centre to Queens College, Yaba and Federal Science and Technical College in Lagos.

This is also as the Permanent Secretary, Ministry of Education, Mr. Sonny Echono, expressed the federal governmentâ&#x20AC;&#x2122;s commitment to the realisation of excellent ICT education in schools.

Echono, who disclosed this

while fielding questions from journalists at the inauguration of the technology experience centre, said ICT delivery in schools would redefine the teaching processes in order to give students the leverage to compete with their counterparts in other countries. â&#x20AC;&#x153;Skool Media came with the aim of extending the frontiers of not only ICT education delivery, but also to use ICT skills in solving problems prevalent in our world today.â&#x20AC;?

Echono, who was represented by the Director, ICT, Ministry of

Education, Mr. Abubakar Isah, said the centres would facilitate studentsâ&#x20AC;&#x2122; technology experience, fast track learning and design innovative thinking and enhance project-based learning in schools.

He commended Skool Media, saying that government believes in such Public-Private Partnership (PPP) projects to develop the country.

Speaking at the event, the Project Director, Skool Media, Mr. Moses Imayi said the firm had invested about N500 million towards driving the growth of

digital education sector across the six geo-political zones in the country. â&#x20AC;&#x153;Our expectation is to invest in the future of Nigerian children and equip them with the relevant skills for global competitiveness in the knowledge economy. Quality education has been a major backbone of our strategic plan as we continue to be a role model for the adoption of technology in education in Africa and the opportunity of being a reference point for all ed-tech stakeholders in Nigeria.â&#x20AC;?

36

5 ) * 4 % ": t WEDNESDAY, FEBRUARY 20, 2019

5 ) * 4 % ": t WEDNESDAY, FEBRUARY 20, 2019

37

38

5 ) * 4 % ": t WEDNESDAY, FEBRUARY 20, 2019

5 ) * 4 % ": t WEDNESDAY, FEBRUARY 20, 2019

39

40

5 ) * 4 % ": t WEDNESDAY, FEBRUARY 20, 2019

5 ) * 4 % ": t WEDNESDAY, FEBRUARY 20, 2019

41

42

5 ) * 4 % ": t WEDNESDAY, FEBRUARY 20, 2019

5 ) * 4 % ": t WEDNESDAY, FEBRUARY 20, 2019

43

5 ) * 4 % ": t WEDNESDAY, FEBRUARY 20, 2019

44

UTILIZATION OF FOREIGN EXCHANGE AS AT 15TH OF FEBRUARY 2019 S/N

CUSTOMERS

1

ASABA I. JULIUS

2

PROF IBE O. ANTHONY

3

AGBOGUN J. OMOTUNDE

4

OYEMADE F. ADELARIN

AMOUNT (US$)

DATE

S/N

CUSTOMERS

DATE

S/N

CUSTOMERS

700.00

PTA

359.00

11-Feb-19

74

ODETUNDE O. OLADIMEJI

1,318.00

SCHOOL FEES

359.00

12-Feb-19

147

AKANJI A. ADEGOKE

700.00

PTA

359.00

14-Feb-19

2,000.00

PTA

PURPOSE

359.00

RATE

11-Feb-19

75

ROBINSON IMAFIDON

AMOUNT (US$) 1,100.00

SCHOOL FEES

359.00

12-Feb-19

148

ATAKITI GABAI

700.00

PTA

359.00

14-Feb-19

700.00

PTA

359.00

11-Feb-19

76

UJAH M. AKUNNA

1,200.00

PTA

359.00

11-Feb-19

77

TEBRIMAM JOEL YAKUBU ARE A. DANIEL

1,500.00

PURPOSE

SCHOOL FEES

RATE

359.00

AMOUNT (US$)

PURPOSE

RATE

DATE

12-Feb-19

149

ADEOLA-AKONNI BOLANLE M

1,250.00

SCHOOL FEES

359.00

12-Feb-19

150

AHANWA I. ONYEKA

4,000.00

PTA

359.00

14-Feb-19

10,000.00

SCHOOL FEES

359.00

12-Feb-19

151

OMOLARA ADIGUN

4,000.00

PTA

359.00

14-Feb-19

1,000.00

PTA

359.00

14-Feb-19

3,800.00

PTA

359.00

14-Feb-19

4,000.00

PTA

359.00

11-Feb-19

78

200.00

PTA

359.00

11-Feb-19

79

NWEKE A. ANAERO

359.00

12-Feb-19

152

OLU-FASOLA S. ALANI

4,000.00

PTA

359.00

11-Feb-19

80

OKAFOR C. CHIJIOKE

2,142.88

SCHOOL FEES

359.00

12-Feb-19

153

KUGHEGBE E. BLESSING

3,000.00

PTA

359.00

14-Feb-19

PTA

359.00

11-Feb-19

81

SONEYE ALABI S.O.

3,187.00

SCHOOL FEES

359.00

12-Feb-19

154

TELLA ISHOLA ADEGBOYEGA

4,000.00

PTA

359.00

14-Feb-19

EMMANUEL-AYIRA I. QUEEN

10,368.00

SCHOOL FEES

359.00

12-Feb-19

155

IGBOANUGO G. NWAKAEGO

500.00

PTA

359.00

14-Feb-19

4,000.50

SCHOOL FEES

750.00

14-Feb-19

5

KALANGO Y. MICHAEL

6

ASABA I. JULIUS

7

AKINKUGBE O. ORIKABA

8

NJOKU G. CHIMA

4,000.00

2,200.00

SCHOOL FEES

9

OPARA C. MAUREEN

800.00

PTA

359.00

11-Feb-19

82

10

ONOKALA U. CHIOMA

1,000.00

PTA

359.00

11-Feb-19

83

OKENE V. CHRISTOPHER

12-Feb-19

156

DANKARO ASHUMATE ABE

PTA

359.00

11

ETTA MODUPE FELICIA

4,000.00

PTA

359.00

11-Feb-19

84

CHIMA-NKWUAKU PRINCESS C

SCHOOL FEES

359.00

12-Feb-19

157

SHAIBU H. HUSSEIN

343.02

PTA

359.00

12

OGUNBEKUN H. OLANREWAJU

4,000.00

PTA

359.00

11-Feb-19

85

CBN

93,049.04

IMTO TRANSFERRED TO CBN

357.00

12-Feb-19

158

ADEBIYI J. ADEBOSIPO

3,958.67

PTA

359.00

14-Feb-19

CBN

24,622.78

IMTO TRANSFERRED TO CBN

357.00

12-Feb-19

159

BABAH RAAT ITEMOAGBOR

2,966.10

PTA

359.00

14-Feb-19

13,000.00

INTERBANK

360.50

12-Feb-19

160

RIKA, PAUL

3,901.50

PTA

359.00

14-Feb-19

7,833.00

359.00

750.00

PTA

359.00

11-Feb-19

2,000.00

PTA

359.00

11-Feb-19

87

DIAMOND BANK

11-Feb-19

88

KRBL FOOD IND. LIMITED

1,688,500.00

12-Feb-19

161

ODETUNDE A. ADENIKE

11-Feb-19

89

KRBL FOOD IND. LIMITED

1,688,500.00

INDUSTRIAL RAW MATERIAL

362.90

12-Feb-19

162

ISICHEI L. ONYEKWE

2,139.25

SCHOOL FEES

359.00

14-Feb-19

11-Feb-19

90

OLALEYE NIKE SARATA

4,000.00

PTA

359.00

13-Feb-19

163

EZICHI C. REBECCA

3,851.00

SCHOOL FEES

359.00

14-Feb-19

11-Feb-19

91

AMLOGU LAMI LAURA

4,000.00

PTA

359.00

13-Feb-19

164

ORPAH A. SHITTA

2,250.00

SCHOOL FEES

359.00

14-Feb-19

11-Feb-19

92

EDEKOBI CHUMA TONY

13-Feb-19

165

EARLY BEGINNERS PRIVATE SCHOOL LTD

9,900.00

SCHOOL FEES

359.00

14-Feb-19

11-Feb-19

93

ALAKA OLUMUYIWA

4,000.00

PTA

359.00

13-Feb-19

166

CBN

84,866.64

IMTO TRANSFERRED TO CBN

357.00

14-Feb-19

11-Feb-19

94

MAGAJI K ABIGEAL

2,000.00

PTA

359.00

13-Feb-19

167

CBN

21,327.77

IMTO TRANSFERRED TO CBN

357.00

14-Feb-19

11-Feb-19

95

ALAKA B. AFOLAKE

359.00

13-Feb-19

168

FRIESLANDCAMPINA WAMCO NIGERIA PLC

4,839.50

WHOLE MILK POWDER INSTANT

362.95

14-Feb-19

11-Feb-19

96

SHEHU USMAN YAKUBU

4,000.00

PTA

359.00

13-Feb-19

169

IBRAHIM L. MARYAM

2,000.00

PTA

359.00

15-Feb-19

11-Feb-19

97

OGEDENGBE O. KOFOWOROLA

4,000.00

PTA

359.00

13-Feb-19

170

BABA AMINU ZUBAIR

3,000.00

PTA

359.00

98

AJIBOLA MUJIDAT MOJISOLA

4,000.00

PTA

359.00

13-Feb-19

171

TAIWO A. OYEFUNKE

300.00

PTA

359.00

15-Feb-19

172

ADEYEMO VERONICA

2,000.00

PTA

359.00

15-Feb-19

173

NGGADA RUTH PETER

174

AJISE O. EMMANUEL

2,300.00

PTA

359.00

15-Feb-19

175

MOFE ABRAHAM EJU

2,900.00

PTA

359.00

15-Feb-19

176

ONWUTEAKA U. CHINONYE

4,000.00

PTA

359.00

15-Feb-19

177

OKORO F. CHUKWUEMEKA

4,000.00

PTA

359.00

15-Feb-19

178

ICO INVESTMENT COY NIG LTD

4,000.00

BTA

359.00

179

MARINK INVESTMENT LIMITED

5,000.00

BTA

359.00

15-Feb-19

180

APOLLES S. TIZHE

4,000.00

PTA

359.00

15-Feb-19

13

OLABOYE KOLADE M

14

OLADITI A. SAHEED

15

PERRY ORDIA HELEN

16

CHUKWUWETA IKECHUKWU

760.00

PTA

359.00

17

ONYELE LAWERENCE

1,958.86

PTA

359.00

18

EMOGHWARE GOODLUCK M

3,917.72

PTA

359.00

19

MOSES A. MOSES

1,045.00

PTA

359.00

20

ADESEKO T. OLASUBOMI

2,364.12

PTA

359.00

21

EBIYE TEKENAH

2,626.80

PTA

359.00

22

EMEGA JOHN

1,539.29

SCHOOL FEES

359.00

23

ABE SOLOMON

3,547.33

SCHOOL FEES

359.00

24

OGUNBIYI B. EMMANUEL

6,790.00

SCHOOL FEES

359.00

25

EJENAME B. OLOWOJAIYE

26

TOBINS F. HAMILTON

2,018.00

PTA

359.00

1,100.00

SCHOOL FEES

359.00

11-Feb-19

11,434.00

SCHOOL FEES

359.00

11-Feb-19

99

4,000.00

4,000.00

INDUSTRIAL RAW MATERIAL

PTA

362.90

359.00

PTA

ADEAGA OLUYEMISI OYEBISI

5,000.00

BTA

359.00

13-Feb-19

27

IBUJE GODWIN

3,921.90

SCHOOL FEES

359.00

11-Feb-19

100

HASSAN RALIAT TOSIN

1,000.00

PTA

359.00

13-Feb-19

28

YOUSUO AMALANYO

8,758.91

SCHOOL FEES

359.00

11-Feb-19

101

OFOMA E. HENRY

4,000.00

PTA

359.00

13-Feb-19

29

IATA

6,704,910.47

TICKET REMITTANCE

361.99

11-Feb-19

102

AKINYEMI M. AYOTUNDE

4,000.00

PTA

359.00

13-Feb-19

30

IATA

291,246.10

TICKET REMITTANCE

361.99

11-Feb-19

103

OLUKOYA M. OLUSEGUN

5,000.00

BTA

359.00

13-Feb-19

31

IATA

349,613.56

TICKET REMITTANCE

361.99

11-Feb-19

104

AWO CHRISTIAN KALU

2,000.00

PTA

359.00

13-Feb-19

32

ARISTON

112,458.93

ELECTRIC WATER HEATERS

362.50

11-Feb-19

105

BALOGUN I. IDOWU

600.00

PTA

359.00

13-Feb-19

33

ARISTON

77,366.76

ELECTRIC WATER HEATERS

362.50

11-Feb-19

106

MADUKA UGOCHUKWU

3,600.00

PTA

359.00

13-Feb-19

34

ROOSKEY ELECTRICAL

32,945.60

AC MOTOR SINGLE PHASE

362.50

11-Feb-19

107

LAWAL A. KAFILAT

35

ROOSKEY ELECTRICAL

30,022.70

AC MOTOR SINGLE PHASE

362.50

11-Feb-19

108

OKODUWA E HARRISON

4,000.00

PTA

359.00

13-Feb-19

36

ROOSKEY ELECTRICAL

32,994.00

AC MOTOR SINGLE PHASE

362.50

11-Feb-19

109

ABUBAKAR IDRIS INUSA

1,200.00

PTA

359.00

13-Feb-19

37

ROOSKEY ELECTRICAL

32,973.00

AC MOTOR SINGLE PHASE

362.50

11-Feb-19

110

ABUBAKAR M. USMAN

1,133.00

PTA

359.00

13-Feb-19

4,000.00

PTA

359.00

13-Feb-19

38

ROOSKEY ELECTRICAL

63,739.00

AC MOTOR SINGLE PHASE

362.50

11-Feb-19

111

ADEWALE A. HOTEPO

1,144.10

PTA

359.00

13-Feb-19

39

ROOSKEY ELECTRICAL

32,990.00

AC MOTOR SINGLE PHASE

362.50

11-Feb-19

112

SHOLLY OPTICAL LTD

4,980.27

BTA

359.00

13-Feb-19

40

SAPONARIA IND. LTD

41

SAPONARIA IND. LTD

42

JAYKAY CARPET IND LIMITED

43

72,850.00

SHEA FATTY ACID

362.50

11-Feb-19

113

KOLADE A. TOLULOPE

255.39

PTA

359.00

13-Feb-19

62,873.75

SHEA FATTY ACID

362.50

11-Feb-19

114

SORAE AIZE

2,553.98

PTA

359.00

13-Feb-19

INDUSTRIAL RAW MATERIAL

362.50

11-Feb-19

115

SORAE AIZE

1,276.99

PTA

359.00

13-Feb-19

IMTO TRANSFERRED TO CBN

357.00

11-Feb-19

116

OSUMAN M. MIKE

3,959.62

PTA

359.00

13-Feb-19

IMTO TRANSFERRED TO CBN

357.00

11-Feb-19

117

ABUBAKAR MUSA USMAN

771.50

PTA

359.00

13-Feb-19

PTA

359.00

12-Feb-19

118

KUMAPAYI E. TITILAYO

2,840.39

PTA

359.00

13-Feb-19

106,265.00

CBN

82,465.70

44

CBN

36,472.91

45

OYENEKAN ADEBISI

4,000.00

46

ERINLE GBOYESOLA

2,000.00

PTA

359.00

12-Feb-19

119

OMOLARA OLANREWAJU

3,967.00

PTA

359.00

13-Feb-19

47

BAMIDELE TAIWO

4,000.00

PTA

359.00

12-Feb-19

120

AFOLAYAN E. ALABODE

4,943.10

BTA

359.00

13-Feb-19

48

ASALU BUNMI

300.00

PTA

359.00

12-Feb-19

121

IFTISAN FATIMA UMAR

3,916.50

PTA

359.00

13-Feb-19

49

AGBASIMALO N. CHARLES

3,000.00

PTA

359.00

12-Feb-19

122

OKOLI C. NICHOLAS

473.82

PTA

359.00

13-Feb-19

50

TOYOMS PLACE ENTERPRISES

51

OYEGOKE O. ABAYOMI

4,000.00

PTA

359.00

12-Feb-19

123

FATUGA E. OLUSEGUN

700.00

PTA

359.00

12-Feb-19

124

OYIZA AYIRA

13-Feb-19 13-Feb-19

GRACE O. OMOTOSHO

12-Feb-19

125

ANDREW AKPOGUMA

ILORI A. ABIDEMI

2,200.00

PTA

359.00

12-Feb-19

126

NATHANIEL L. AGBENDEH

1,400.00

SCHOOL FEES

359.00

13-Feb-19

IBRAHIM B. ALHAJI

4,000.00

PTA

359.00

12-Feb-19

127

OBINNA CHRISTIAN EJIMBE

10,000.00

SCHOOL FEES

359.00

13-Feb-19

55

ONEKUTU M. SIMON

4,000.00

PTA

359.00

12-Feb-19

128

OKOROAFOR B, CHIKWADO

1,366.00

SCHOOL FEES

359.00

13-Feb-19

56

MUTKA A. ABIOLA.O

3,870.00

PTA

359.00

12-Feb-19

129

FUBARA MOROISO EBIRIEN

700.00

SCHOOL FEES

359.00

13-Feb-19

57

OMOTOSO J. OLADIMEJI

3,000.00

PTA

359.00

12-Feb-19

130

TOLUWANIMI R. ABODUNWA

7,263.82

SCHOOL FEES

359.00

13-Feb-19

58

YUSUF ABDULLAHI

2,500.00

PTA

359.00

12-Feb-19

131

DANIEL R. EZEOMA

1,140.00

SCHOOL FEES

359.00

13-Feb-19

59

UJUNWA L. NWADINAKACHI

2,500.00

PTA

359.00

12-Feb-19

132

IFEANYI H. EZE

11,704.50

SCHOOL FEES

359.00

13-Feb-19

60

IYASERE M. AWHOTU

4,000.00

PTA

360.00

12-Feb-19

133

CBN

IMTO TRANSFERRED TO CBN

357.00

13-Feb-19

61

EBOIGBODIN O. ANTHONY

2,700.00

PTA

360.00

12-Feb-19

134

CBN

56,625.08

IMTO TRANSFERRED TO CBN

357.00

13-Feb-19

62

ADEWUMI B. GRACE

1,908.13

PTA

359.00

12-Feb-19

135

SATHYANARAYANAN SAMPATH

51,427.00

PERSONAL HOME REMITTANCE

360.56

13-Feb-19

63

ORUAMBO ALALIBO

1,979.34

BTA

359.00

12-Feb-19

136

JUST FOOD

78,371.92

COMELLE CM ICE CREAM POWDER

362.95

13-Feb-19

64

SHEHU E. BABAYO

3,994.34

PTA

359.00

12-Feb-19

137

NICAPACO

127,000.00

PRINTING MACHINE SPARE PART

362.85

13-Feb-19 13-Feb-19

FAREWO OLUFEMI ADEBOWALE E. OMOTUNDE IJAOLA FOLUKE

68

IKPEAZU ALEX MADU

69

OSULA ELIZABETH

70

A.OBI GENERAL INVESTMENT LIMITED

322.10

359.00

359.00 359.00

54

66

PTA

PTA SCHOOL FEES

53

65

3,000.00

542.10 12,179.54

52

67

14-Feb-19

86

10,016.08

129,449.43

SCHOOL FEES

359.00

13-Feb-19

PTA

359.00

12-Feb-19

ROOSKEY ELECTRICAL

64,373.00

AC MOTOR SINGLE PHASE

362.90

718.25

PTA

359.00

12-Feb-19

139

ROOSKEY ELECTRICAL

32,992.00

AC MOTOR SINGLE PHASE

362.90

3,992.73

PTA

359.00

12-Feb-19

140

FARMEX MEYER LIMITED

56,525.00

CHLORAMPHENICOL PALMITATE

363.00

13-Feb-19

397.80

PTA

359.00

12-Feb-19

141

NOVA BANK

INTERBANK

362.00

13-Feb-19

138

5,700.00

13-Feb-19

1,375.00

SCHOOL FEES

359.00

12-Feb-19

142

OLUWATUYI ADEBIMPE

4,000.00

PTA

359.00

14-Feb-19

12,327.00

SCHOOL FEES

359.00

12-Feb-19

143

OSUNRAYI FOLUSO OLALERE

2,000.00

PTA

359.00

14-Feb-19

71

LAWAL A. KHADIJAT

832.00

SCHOOL FEES

359.00

12-Feb-19

144

EJIOGU C. EMMANUEL

4,000.00

PTA

359.00

14-Feb-19

72

AGUIYI I. OKECHUKWU

4,827.09

SCHOOL FEES

359.00

12-Feb-19

145

BABAH RAAT ITEMOAGBOR

1,000.00

PTA

359.00

14-Feb-19

73

LA MED PHARMACEUTICALS NIG. LTD

3,051.00

SCHOOL FEES

359.00

12-Feb-19

146

ETUK R. UDEME

1,300.00

PTA

359.00

14-Feb-19

14,795.79

1,000.00

359.00

PTA

359.00

15-Feb-19

15-Feb-19

HAUWA ROTI NWACHUKWU IKECHUKWU

3,000.00

PTA

359.00

15-Feb-19

183

OKOLO FRANK CHIKE

1,600.00

PTA

359.00

15-Feb-19

184

ESEYIN IBIYEMI OLADAPO.O

4,000.00

PTA

359.00

15-Feb-19

185

IDOWU ABAYOME JOHN

4,000.00

PTA

359.00

15-Feb-19

186

IDOWU CHIDI

4,000.00

PTA

359.00

15-Feb-19

187

ESHO ROTIMI WILLIAM

4,000.00

PTA

359.00

15-Feb-19

188

AGABA EMMANUEL IDOKO

4,000.00

PTA

359.00

15-Feb-19

189

OLAJOLO ABIMBOLA OLUBUNMI

1,500.00

PTA

359.00

15-Feb-19

190

UDOH JACKSON ARNOLD

191

SOYANNWO OLAITAN ALICE

4,000.00

PTA

359.00

15-Feb-19

192

ALAKIJA A. OLUYEMISI

4,000.00

PTA

359.00

15-Feb-19

193

AKINBODE O. OLUWABUNMI

4,000.00

PTA

359.00

194

ANYANWU C. JACQUELINE

515.03

PTA

359.00

15-Feb-19

195

CHIROMA AJA FATIMA

1,608.64

PTA

359.00

15-Feb-19

196

EBOHON O. CATHERINE

3,996.50

PTA

359.00

15-Feb-19

197

EWALEFO IDONGESIT EMMANUEL

3,865.23

PTA

359.00

15-Feb-19

198

EWALEFO P. OYINDAMOLA

3,865.23

PTA

359.00

15-Feb-19

LADEPO O. ABIODUN

359.00

15-Feb-19

182

4,000.00

PTA

14-Feb-19

181

199

4,000.00

SCHOOL FEES

PTA

359.00

15-Feb-19

15-Feb-19

15-Feb-19

645.54

PTA

359.00

15-Feb-19

1,936.63

PTA

359.00

15-Feb-19

390.15

PTA

359.00

15-Feb-19

3,918.30

PTA

359.00

15-Feb-19

200

OBIECHINA A. ONYEBUCHI

201

ESIKE FAVOUR FEGA

202

APATA TOBA ADEBAYO

203

TAIWO AWUNU M OYEFUNKE

204

FALMAYA BUKAR

205

AKINYEDE ODUNAYO

206

FATONA OLADIMEJI JOHN

1,323.70

PTA

359.00

15-Feb-19

207

UJAH MAUREEN AKUNNA

1,000.00

SCHOOL FEES

359.00

15-Feb-19

208

OLANREWAJU L. OLUDAISI

209

LUCKY JOE INVESTMENT LIMITED

9,559.00

SCHOOL FEES

359.00

15-Feb-19

210

ADESHINA SUNDAY ANTHONY

7,395.50

SCHOOL FEES

359.00

15-Feb-19

211

CBN

IMTO

357.00

15-Feb-19

212

CBN

25,974.29

IMTO

213

AMTRONIC INVESTMENTS LTD

23,295.12

TABLE TENNIS BALL

306.75

15-Feb-19

214

AMTRONIC INVESTMENTS LTD

47,245.28

ELECTRIC WATER KETTLE

306.75

15-Feb-19

215

UBA CAPE

1,143,683.45

216

EMIRATES

2,200,000.00

TICKET REMITTANCE

362.30

15-Feb-19

217

RAND MERCHANT BANK

540,050.00

INTERBANK

359.50

15-Feb-19

218

RAND MERCHANT BANK

79,484.40

INTERBANK

359.50

15-Feb-19

219

NOVA BANK

46,035.00

INTERBANK

361.70

15-Feb-19

391.86

PTA

359.00

15-Feb-19

1,969.93

PTA

359.00

15-Feb-19

328.34

PTA

359.00

2,371.42

80,279.01

SCHOOL FEES

359.00

357.00

INVESTMENT PROCEEDS

361.40

15-Feb-19

15-Feb-19

15-Feb-19

15-Feb-19

SOURCE OF FOREIGN EXCHANGE AS AT 15TH OF FEBRUARY 2019 S/N

SOURCE

S/N

SOURCE

S/N

SOURCE

S/N

SOURCE

1

AUTONOMOUS

3,450.00

360.00 11-Feb-19

77

AUTONOMOUS

726.05

360.00 12-Feb-19

153

AUTONOMOUS

105,000.00

361.00 13-Feb-19

229

AUTONOMOUS

51.77

360.00 14-Feb-19

2

AUTONOMOUS

AMOUNT (US$) 17,500.00

360.00 11-Feb-19

RATE DATE

78

AUTONOMOUS

AMOUNT (US$) 90.01

360.00 12-Feb-19

154

AUTONOMOUS

99,990.00

361.75 13-Feb-19

230

AUTONOMOUS

244.22

360.00 14-Feb-19

3

AUTONOMOUS

1,844.00

360.00 11-Feb-19

79

AUTONOMOUS

425.29

360.00 12-Feb-19

155

AUTONOMOUS

5,000.00

360.00 14-Feb-19

231

AUTONOMOUS

3,846.92

360.00 14-Feb-19

4

AUTONOMOUS

2,710.00

360.00 11-Feb-19

80

AUTONOMOUS

56.26

360.00 12-Feb-19

156

AUTONOMOUS

120.00

360.00 14-Feb-19

232

IMTO

111,749.36

355.00 14-Feb-19

5

AUTONOMOUS

577.88

360.00 11-Feb-19

81

AUTONOMOUS

210.00

360.00 12-Feb-19

157

AUTONOMOUS

125.00

360.00 14-Feb-19

233

IMTO

1,406.16

355.00 14-Feb-19

6

AUTONOMOUS

59.00

360.00 11-Feb-19

82

AUTONOMOUS

69.63

360.00 12-Feb-19

158

AUTONOMOUS

5,600.00

360.00 14-Feb-19

234

IMTO

28,002.92

355.00 14-Feb-19

7

AUTONOMOUS

335.00

360.00 11-Feb-19

83

AUTONOMOUS

360.00 12-Feb-19

159

AUTONOMOUS

4,400.00

360.00 14-Feb-19

235

IMTO

434.11

354.93 14-Feb-19

8

AUTONOMOUS

7,490.00

360.00 11-Feb-19

84

AUTONOMOUS

4,499.25

360.00 12-Feb-19

160

AUTONOMOUS

3,000.00

360.00 14-Feb-19

236

AUTONOMOUS

1,477.00

360.00 14-Feb-19

9

AUTONOMOUS

200.00

360.00 11-Feb-19

85

AUTONOMOUS

50,000.00

360.00 12-Feb-19

161

AUTONOMOUS

30.00

360.00 14-Feb-19

237

AUTONOMOUS

177,777.78

360.00 14-Feb-19

AUTONOMOUS

974.99

360.00 12-Feb-19

162

AUTONOMOUS

200.00

360.00 14-Feb-19

238

AUTONOMOUS

5,750.11

360.00 14-Feb-19

50,000.00

360.00 12-Feb-19

163

AUTONOMOUS

500.00

360.00 14-Feb-19

239

AUTONOMOUS

6,000.00

360.50 14-Feb-19

122,674.20

2,354.93

RATE DATE

AMOUNT (US$)

RATE DATE

AMOUNT (US$)

RATE DATE

10

AUTONOMOUS

455.00

360.00 11-Feb-19

86

11

AUTONOMOUS

600.00

360.00 11-Feb-19

87

AUTONOMOUS

12

AUTONOMOUS

1,000.00

360.00 11-Feb-19

88

IMTO

355.00 12-Feb-19

164

AUTONOMOUS

100.00

360.00 14-Feb-19

240

AUTONOMOUS

65,000.00

361.00 14-Feb-19

13

AUTONOMOUS

500.00

360.00 11-Feb-19

89

IMTO

1,391.19

355.00 12-Feb-19

165

AUTONOMOUS

145.61

360.00 14-Feb-19

241

AUTONOMOUS

6,560.00

361.00 14-Feb-19

14

AUTONOMOUS

115.00

360.00 11-Feb-19

90

IMTO

32,290.86

355.00 12-Feb-19

166

AUTONOMOUS

200.00

360.00 14-Feb-19

242

AUTONOMOUS

540,050.00

359.25 14-Feb-19

15

AUTONOMOUS

1,225.00

360.00 11-Feb-19

91

IMTO

539.51

355.01 12-Feb-19

167

AUTONOMOUS

195.00

360.00 14-Feb-19

243

AUTONOMOUS

1,000.00

360.00 15-Feb-19

16

AUTONOMOUS

134.00

360.00 11-Feb-19

92

AUTONOMOUS

31,000.00

360.50 12-Feb-19

168

AUTONOMOUS

5,475.00

360.00 14-Feb-19

244

AUTONOMOUS

9,387.00

360.00 15-Feb-19

17

AUTONOMOUS

561.30

360.00 11-Feb-19

93

AUTONOMOUS

300,000.00

362.00 12-Feb-19

169

AUTONOMOUS

590.00

360.00 14-Feb-19

245

AUTONOMOUS

1,035.00

360.00 15-Feb-19

18

AUTONOMOUS

450.00

360.00 11-Feb-19

94

AUTONOMOUS

476,095.00

362.00 12-Feb-19

170

AUTONOMOUS

500.00

360.00 14-Feb-19

246

AUTONOMOUS

35.00

360.00 15-Feb-19

19

AUTONOMOUS

300.00

360.00 11-Feb-19

95

AUTONOMOUS

13,000.00

360.00 12-Feb-19

171

AUTONOMOUS

200.00

360.00 14-Feb-19

247

AUTONOMOUS

1,855.00

360.00 15-Feb-19

20

AUTONOMOUS

290.00

360.00 11-Feb-19

96

AUTONOMOUS

230.00

360.00 13-Feb-19

172

AUTONOMOUS

1,814.10

360.00 14-Feb-19

248

AUTONOMOUS

140.00

360.00 15-Feb-19

21

AUTONOMOUS

360.00 11-Feb-19

97

AUTONOMOUS

702.95

360.00 13-Feb-19

173

AUTONOMOUS

2,167.50

360.00 14-Feb-19

249

AUTONOMOUS

1,990.00

360.00 15-Feb-19

22

AUTONOMOUS

19.14

360.00 11-Feb-19

98

AUTONOMOUS

941.46

360.00 13-Feb-19

174

AUTONOMOUS

50.00

360.00 14-Feb-19

250

AUTONOMOUS

1,365.00

360.00 15-Feb-19

23

AUTONOMOUS

1,320.00

360.00 11-Feb-19

99

AUTONOMOUS

109.00

360.00 13-Feb-19

175

AUTONOMOUS

290.00

360.00 14-Feb-19

251

AUTONOMOUS

119.05

360.00 15-Feb-19

24

AUTONOMOUS

2.51

360.00 11-Feb-19

100

AUTONOMOUS

60.53

360.00 13-Feb-19

176

AUTONOMOUS

350.00

360.00 14-Feb-19

252

AUTONOMOUS

49.71

360.00 15-Feb-19

25

AUTONOMOUS

91.67

360.00 11-Feb-19

101

AUTONOMOUS

200.00

360.00 13-Feb-19

177

AUTONOMOUS

500.00

360.00 14-Feb-19

253

AUTONOMOUS

634.20

360.00 15-Feb-19

26

AUTONOMOUS

869.12

360.00 11-Feb-19

102

AUTONOMOUS

98.20

360.00 13-Feb-19

178

AUTONOMOUS

364.00

360.00 14-Feb-19

254

AUTONOMOUS

200.00

360.00 15-Feb-19

27

AUTONOMOUS

4,000.00

360.00 11-Feb-19

103

AUTONOMOUS

465.00

360.00 13-Feb-19

179

AUTONOMOUS

114.50

360.00 14-Feb-19

255

AUTONOMOUS

235.61

360.00 15-Feb-19

28

AUTONOMOUS

220.96

360.00 11-Feb-19

104

AUTONOMOUS

210.00

360.00 13-Feb-19

180

AUTONOMOUS

340.50

360.00 14-Feb-19

256

AUTONOMOUS

83.91

360.00 15-Feb-19

29

AUTONOMOUS

882.00

360.00 11-Feb-19

105

AUTONOMOUS

990.00

360.00 13-Feb-19

181

AUTONOMOUS

182.00

360.00 14-Feb-19

257

AUTONOMOUS

200.00

360.00 15-Feb-19

30

AUTONOMOUS

1,723.10

360.00 11-Feb-19

106

AUTONOMOUS

37.00

360.00 13-Feb-19

182

AUTONOMOUS

1,000.00

360.00 14-Feb-19

258

AUTONOMOUS

236.13

360.00 15-Feb-19

31

AUTONOMOUS

160.00

360.00 11-Feb-19

107

AUTONOMOUS

1,079.51

360.00 13-Feb-19

183

AUTONOMOUS

74.70

360.00 14-Feb-19

259

AUTONOMOUS

253.73

360.00 15-Feb-19

32

AUTONOMOUS

31.85

360.00 11-Feb-19

108

AUTONOMOUS

354.60

360.00 13-Feb-19

184

AUTONOMOUS

72.97

360.00 14-Feb-19

260

AUTONOMOUS

288.00

360.00 15-Feb-19

33

AUTONOMOUS

676.43

360.00 11-Feb-19

109

AUTONOMOUS

1,320.00

360.00 13-Feb-19

185

AUTONOMOUS

50.00

360.00 14-Feb-19

261

AUTONOMOUS

647.19

360.00 15-Feb-19

34

AUTONOMOUS

56.37

360.00 11-Feb-19

110

AUTONOMOUS

355.00

360.00 13-Feb-19

186

AUTONOMOUS

284.63

360.00 14-Feb-19

262

AUTONOMOUS

328.79

360.00 15-Feb-19

35

AUTONOMOUS

562.56

360.00 11-Feb-19

111

AUTONOMOUS

250.00

360.00 13-Feb-19

187

AUTONOMOUS

765.00

360.00 14-Feb-19

263

AUTONOMOUS

240.00

360.00 15-Feb-19

36

AUTONOMOUS

56.26

360.00 11-Feb-19

112

AUTONOMOUS

2,500.00

360.00 13-Feb-19

188

AUTONOMOUS

1,390.00

360.00 14-Feb-19

264

AUTONOMOUS

27.81

37

AUTONOMOUS

551.30

360.00 11-Feb-19

113

AUTONOMOUS

2,205.00

360.00 13-Feb-19

189

AUTONOMOUS

1,320.00

360.00 14-Feb-19

265

AUTONOMOUS

63.77

360.00 15-Feb-19

38

AUTONOMOUS

1,179.07

360.00 11-Feb-19

114

AUTONOMOUS

2,137.00

360.00 13-Feb-19

190

AUTONOMOUS

2,465.00

360.00 14-Feb-19

266

AUTONOMOUS

113.78

360.00 15-Feb-19

39

AUTONOMOUS

128.73

360.00 11-Feb-19

115

AUTONOMOUS

500.00

360.00 13-Feb-19

191

AUTONOMOUS

2,410.00

360.00 14-Feb-19

267

AUTONOMOUS

145.69

360.00 15-Feb-19

40

AUTONOMOUS

322.32

360.00 11-Feb-19

116

AUTONOMOUS

179.50

360.00 13-Feb-19

192

AUTONOMOUS

360.00 14-Feb-19

268

AUTONOMOUS

164.27

360.00 15-Feb-19

41

AUTONOMOUS

2,200.00

360.00 11-Feb-19

117

AUTONOMOUS

170.00

360.00 13-Feb-19

193

AUTONOMOUS

100.00

360.00 14-Feb-19

269

AUTONOMOUS

637.67

360.00 15-Feb-19

42

AUTONOMOUS

5,390.00

360.00 11-Feb-19

118

AUTONOMOUS

865.00

360.00 13-Feb-19

194

AUTONOMOUS

1,490.00

360.00 14-Feb-19

270

AUTONOMOUS

700.00

360.00 15-Feb-19

43

AUTONOMOUS

10,000.00

360.00 11-Feb-19

119

AUTONOMOUS

60.00

360.00 13-Feb-19

195

AUTONOMOUS

950.00

360.00 14-Feb-19

271

AUTONOMOUS

1,000.00

360.00 15-Feb-19

44

IMTO

108,699.17

355.00 11-Feb-19

120

AUTONOMOUS

50.00

360.00 13-Feb-19

196

AUTONOMOUS

3,100.00

360.00 14-Feb-19

272

AUTONOMOUS

5,835.00

360.00 15-Feb-19

45

IMTO

1,255.09

355.00 11-Feb-19

121

AUTONOMOUS

1,315.03

360.00 13-Feb-19

197

AUTONOMOUS

799.87

360.00 14-Feb-19

273

AUTONOMOUS

39.34

360.00 15-Feb-19

46

IMTO

47,957.05

355.00 11-Feb-19

122

AUTONOMOUS

67.38

360.00 13-Feb-19

198

AUTONOMOUS

466.94

360.00 14-Feb-19

274

AUTONOMOUS

202.34

360.00 15-Feb-19

47

IMTO

673.49

355.03 11-Feb-19

123

AUTONOMOUS

559.35

360.00 13-Feb-19

199

AUTONOMOUS

340.00

360.00 14-Feb-19

275

AUTONOMOUS

9,756.44

360.00 15-Feb-19

48

AUTONOMOUS

20,000.00

360.50 11-Feb-19

124

AUTONOMOUS

111.87

360.00 13-Feb-19

200

AUTONOMOUS

290.00

360.00 14-Feb-19

276

AUTONOMOUS

39.18

360.00 15-Feb-19

49

AUTONOMOUS

2,680.00

360.50 11-Feb-19

125

AUTONOMOUS

1,473.40

360.00 13-Feb-19

201

AUTONOMOUS

263.40

360.00 14-Feb-19

277

AUTONOMOUS

223.90

360.00 15-Feb-19

50

AUTONOMOUS

50,000.00

361.00 11-Feb-19

126

AUTONOMOUS

2,357.18

360.00 13-Feb-19

202

AUTONOMOUS

260.14

360.00 14-Feb-19

278

AUTONOMOUS

1,119.50

360.00 15-Feb-19

51

CBN

2,000,000.00

357.00 11-Feb-19

127

AUTONOMOUS

469.85

360.00 13-Feb-19

203

AUTONOMOUS

3,755.00

360.00 14-Feb-19

279

AUTONOMOUS

180.32

360.00 15-Feb-19

52

CBN

3,500,000.00

357.00 11-Feb-19

128

AUTONOMOUS

83.90

360.00 13-Feb-19

204

AUTONOMOUS

883.98

360.00 14-Feb-19

280

AUTONOMOUS

81.48

360.00 15-Feb-19

53

AUTONOMOUS

5,198.00

360.00 12-Feb-19

129

AUTONOMOUS

279.67

360.00 13-Feb-19

205

AUTONOMOUS

20,000.00

360.00 14-Feb-19

281

AUTONOMOUS

154.49

360.00 15-Feb-19

54

AUTONOMOUS

1,805.00

360.00 12-Feb-19

130

AUTONOMOUS

1,231.51

360.00 13-Feb-19

206

AUTONOMOUS

200.00

360.00 14-Feb-19

282

AUTONOMOUS

4,749.94

360.00 15-Feb-19

55

AUTONOMOUS

2,139.00

360.00 12-Feb-19

131

AUTONOMOUS

3,834.92

360.00 13-Feb-19

207

AUTONOMOUS

136.00

360.00 14-Feb-19

283

AUTONOMOUS

162.51

360.00 15-Feb-19

56

AUTONOMOUS

990.00

360.00 12-Feb-19

132

AUTONOMOUS

62,636.97

360.00 13-Feb-19

208

AUTONOMOUS

625.00

360.00 14-Feb-19

284

AUTONOMOUS

89.76

360.00 15-Feb-19

57

AUTONOMOUS

217.00

360.00 12-Feb-19

133

AUTONOMOUS

1,278.31

360.00 13-Feb-19

209

AUTONOMOUS

55.93

360.00 14-Feb-19

285

AUTONOMOUS

3,816.19

360.00 15-Feb-19

58

AUTONOMOUS

198.40

360.00 12-Feb-19

134

AUTONOMOUS

350.00

360.00 13-Feb-19

210

AUTONOMOUS

1,789.91

360.00 14-Feb-19

286

IMTO

59

AUTONOMOUS

25.83

360.00 12-Feb-19

135

AUTONOMOUS

500.00

360.00 13-Feb-19

211

AUTONOMOUS

674.47

360.00 14-Feb-19

287

60

AUTONOMOUS

620.00

360.00 12-Feb-19

136

AUTONOMOUS

1,000.00

360.00 13-Feb-19

212

AUTONOMOUS

584.54

360.00 14-Feb-19

288

61

AUTONOMOUS

157.91

360.00 12-Feb-19

137

AUTONOMOUS

5,000.00

360.00 13-Feb-19

213

AUTONOMOUS

453.66

360.00 14-Feb-19

289

IMTO

577.18

354.99 15-Feb-19

62

AUTONOMOUS

200.00

360.00 12-Feb-19

138

AUTONOMOUS

10,000.00

358.75 13-Feb-19

214

AUTONOMOUS

44.96

360.00 14-Feb-19

290

AUTONOMOUS

200.00

360.00 15-Feb-19

63

AUTONOMOUS

305.40

360.00 12-Feb-19

139

AUTONOMOUS

500.00

360.00 13-Feb-19

215

AUTONOMOUS

56.21

360.00 14-Feb-19

291

AUTONOMOUS

1,100.00

357.00 15-Feb-19

64

AUTONOMOUS

96.99

360.00 12-Feb-19

140

AUTONOMOUS

8,000.00

360.00 13-Feb-19

216

AUTONOMOUS

101.62

360.00 14-Feb-19

292

AUTONOMOUS

1,000.00

360.00 15-Feb-19

65

AUTONOMOUS

89.80

360.00 12-Feb-19

141

AUTONOMOUS

1,000.00

360.00 13-Feb-19

217

AUTONOMOUS

281.03

360.00 14-Feb-19

293

AUTONOMOUS

500.00

360.00 15-Feb-19

66

AUTONOMOUS

49.46

360.00 12-Feb-19

142

AUTONOMOUS

9,000.00

360.00 13-Feb-19

218

AUTONOMOUS

112.41

360.00 14-Feb-19

294

AUTONOMOUS

1,650.00

360.00 15-Feb-19

67

AUTONOMOUS

100.00

360.00 12-Feb-19

143

AUTONOMOUS

1,300.00

360.00 13-Feb-19

219

AUTONOMOUS

1,660.87

360.00 14-Feb-19

295

AUTONOMOUS

500.00

360.00 15-Feb-19

68

AUTONOMOUS

140.00

360.00 12-Feb-19

144

AUTONOMOUS

1,000.00

360.00 13-Feb-19

220

AUTONOMOUS

714.49

360.00 14-Feb-19

296

AUTONOMOUS

150,000.00

360.00 15-Feb-19

69

AUTONOMOUS

1,000.00

360.00 12-Feb-19

145

AUTONOMOUS

18,527.78

360.00 13-Feb-19

221

AUTONOMOUS

619.39

360.00 14-Feb-19

297

AUTONOMOUS

345,885.08

70

AUTONOMOUS

50.00

360.00 12-Feb-19

146

AUTONOMOUS

11,365.00

360.00 13-Feb-19

222

AUTONOMOUS

1,646.82

360.00 14-Feb-19

298

AUTONOMOUS

10,000,000.00

361.30 15-Feb-19

71

AUTONOMOUS

600.00

360.00 12-Feb-19

147

IMTO

170,724.93

355.00 13-Feb-19

223

AUTONOMOUS

2,369.63

360.00 14-Feb-19

299

AUTONOMOUS

79,484.40

359.25 15-Feb-19

72

AUTONOMOUS

120.00

360.00 12-Feb-19

148

IMTO

1,874.31

355.00 13-Feb-19

224

AUTONOMOUS

35.36

360.00 14-Feb-19

300

AUTONOMOUS

20,000.00

361.00 15-Feb-19

73

AUTONOMOUS

975.00

360.00 12-Feb-19

149

IMTO

74,425.39

355.00 13-Feb-19

225

AUTONOMOUS

337.23

360.00 14-Feb-19

301

AUTONOMOUS

150,000.00

361.50 15-Feb-19

74

AUTONOMOUS

1,837.00

360.00 12-Feb-19

150

IMTO

1,074.72

354.97 13-Feb-19

226

AUTONOMOUS

5,581.21

360.00 14-Feb-19

75

AUTONOMOUS

116.00

360.00 12-Feb-19

151

AUTONOMOUS

5,000,000.00

362.10 13-Feb-19

227

AUTONOMOUS

562.06

360.00 14-Feb-19

76

AUTONOMOUS

500.00

360.00 12-Feb-19

152

AUTONOMOUS

10,000.00

360.50 13-Feb-19

228

AUTONOMOUS

1,483.47

360.00 14-Feb-19

www.ubagroup.com

100.00

100.00

360.00 15-Feb-19

105,792.28

355.00 15-Feb-19

IMTO

1,246.40

355.00 15-Feb-19

IMTO

34,055.21

355.00 15-Feb-19

360.00 15-Feb-19

Africa’s global bank

46

T H I S D AY Ëž Í°ÍŽË&#x153; 2019

BUSINESS/MONEYGUIDE

FG Urged to RaiseVAT to 7% Obinna Chima If the country is to reduce unemployment and stimulate economic growth, the federal government has been advised to take bold steps which includes raising the Value Added Tax (VAT).

Proshare, an online financial information service hub, stated this in a report titled: â&#x20AC;&#x2DC;Proshare Confidential,â&#x20AC;&#x2122; obtained yesterday.

While the report stressed that in times of slow growth, economists would typically not prescribe raising taxes, it stated that since Nigeria currently has the lowest VAT in West Africa at five per cent, the government could be bold to increase the tax by at least 200 basis points, pushing the rate up by two per cent.

It noted that if this is implemented, the government should therefore concentrate the additional revenue in infrastructural developments that helps to drop

the cost of doing business and citizen transactions to create headroom for consumption which would spur business growth.

This, over a period of 36 months, it stated, could reduce the cost of distribution of goods and services, thereby resulting in massive savings in logistics costs which could turn up as major improvements in corporate bottom lines and additional tax income; successfully closing the revenue-expenditure gap. â&#x20AC;&#x153;Itâ&#x20AC;&#x2122;s all about productivity enhancement and not hand-outs to the most vulnerable in the society the way it is done. â&#x20AC;&#x153;You protect the most vulnerable by establishing public safety nets such as unemployment benefits, health services, state subsidised housing etc â&#x20AC;&#x201C; all of which has to be paid for from the increase in productivity (translating to tax revenues), plugging of leakages through system/process improvements and adjusting the

fiscal regime of taxes of tariffs to spur growth in the short term which will be clawed back to attain near equilibrium (illusory to get an optimum) as progress is attained,â&#x20AC;? the report stated.

In its review of 2019, it described the year as a â&#x20AC;&#x153;watershed for several countries across Africa as they enter election cycles that could make or mar their future.â&#x20AC;?

It pointed out that in Nigeria, the battle for the countryâ&#x20AC;&#x2122;s political and economic soul has become vicious with every arm of government easy fodder for political henchmen determined to keep their paymasters, godfathers and muppets in the business of governance.

Unfortunately, this it stated meant that Nigeriaâ&#x20AC;&#x2122;s 2019 federal fiscal plan would be more of a concession to tradition rather than a programme of action to building a resilient economy that can sustain a population growth of 2.9 per cent per annum.

Representative from Consumer Protection Council (CPC), Susie Onwuka; Head, Strategy & Business Transformation, Fidelity Bank Plc, Adetunji Mustapha; Divisional Head, Electronic Banking, Ifeoma Onibuje; Executive Director, Shared Services & Products, Chijioke Ugochukwu; Divisional Head, Retail Banking, Richard Madiebo and Representative from National Lottery Regulatory Commission, Amaka Osakwe, at the fourth monthly/second Bi-Monthly Draw of the Fidelity Bank â&#x20AC;&#x2DC;Get Alert in Millions Season 3â&#x20AC;&#x2122; promo in Lagosâ&#x20AC;Ś yesterday

MARKET INDICATORS

Application forTEF Entrepreneurship Programme Closes March 1 The Tony Elumelu Foundation, an African-funded and founded philanthropy committed to empowering African entrepreneurs has announced its last call for applications into its 2019 entrepreneurship programme.

The application portal launched on the 1st of January 2019 would close on the 1st of March, 2019.

A statement yesterday explained that selected beneficiaries would join 4,470 current alumni and would receive $5,000 seed capital, access to mentors, bespoke training and numerous opportunities to impact policies at the local and global level.

Open to African entrepreneurs from the 54 African countries, the entrepreneurship programme accepts business ideas as well as existing businesses with less than three years of experience

in all sectors of the economy.

It has been commended as one of the few accelerator-type programmes that encourage viable businesses at idea stage that can demonstrate potential to scale, generate revenue and create employment opportunities.

A 10-year, $100 million commitment to identify, train, mentor and fund 10,000 African entrepreneurs, the programmeâ&#x20AC;&#x2122;s objective is to generate at least 1,000,000 new jobs and create at least $10 billion in new business revenue across Africa.

Some of the success stories from the Tony Elumelu Foundation Entrepreneurship Programme include Mama Moni, founded by Nkem Okocha, a fintech social enterprise that provides loans to women in rural communities in Nigeria; founded by Martin Ruga, Desserts Anyone, a chocolate

processing enterprise in Kenya was built from scratch and with the infusion of the capital from the Tony Elumelu Foundation Entrepreneurship Programme, the business now serves over two tonnes of chocolate to over 50,000 consumers; founded by Abiodun Adereni, Help Mum, a Nigerian based enterprise that provides low-cost birth kits to prevent child and maternal mortality recently won the first ever Google Nigeria Impact Challenge and has attracted additional capital investments; iMed Tech, founded

by Nneile Nkholise, innovates in the medtech space in South Africa by using technology to create breast prostheses for women with breast cancer; in Egypt, Ahmed Abbas founded Sun City that provides mobile solar pumps for small farmers.

Heritage Unveils Initiative to Support Start-ups Heritage Bank Plc has launched its innovation accelerator programme tagged, â&#x20AC;&#x153;HB LABâ&#x20AC;?.

The maiden edition of HB LAB is a 12-week programme, expected to provide technology startups with enabling environment, resources and support required to innovate and accelerate impactful solutions with the potential to radically improve financial Inclusion/ Intermediation, agriculture and other related problems affecting critical sectors of the economy.

The application portal which was launched on the 31st January 2019 closed on the 14th February 2019.About 154 applicants who

applied were reviewed and 24 of them scored above 60, whilst the final selection would produce seven successful applicants, which the winner would emerge.

Speaking on the HB LAB, the MD/CEO of the bank, Ifie Sekibo, was quoted in a statement to have explained that in Nigeria, technology start-ups still account for a relatively small share of all businesses, but they have an outsized impact on economic growth, because they provide better-paying, longer-lasting jobs than other start-ups, and they contribute more to innovation, productivity, and competitiveness.

He disclosed that the team

with the most compelling solution would be awarded a $25,000 grant alongside access to workspace and IT infrastructure for solution testing and development for a defined period.

According to him, the HB Innovation Lab Programme is open to product development teams and technology driven startups across Nigeria.

Sekibo stated that the critical areas of focus are fintechs, agriculture, education, digital, security and power, whilst noting that the application requirements include names, age, gender, contact number, home and email addresses of the participants.

Unity Bank Bags CBNâ&#x20AC;&#x2122;s Award Unity Bank Plc recently received the â&#x20AC;&#x2DC;2018 Best Participating Bank in the Central Bank of Nigeriaâ&#x20AC;&#x2122;s Development Finance activities awardâ&#x20AC;&#x2122; in Jigawa State.

The recognition came at the Dutse Bankers Forum organised by the CBN, which brought together stakeholders in Jigawa State including the CBN, Representative of Chartered Institute of Bankers (CIBN) North West Zone, NIRSAL, commercial

banks in Jigawa State, the Controller of Prison Service, Jigawa State and Turaki of Dutse who represented the Emir of Dutse. Receiving the award, the Unity Bankâ&#x20AC;&#x2122;s Regional Manager, Dutse, Mr. Mustapha Idris Baba, commended the CBN for the recognition accorded the Bank, which he said was a â&#x20AC;&#x153;testament to the bankâ&#x20AC;&#x2122;s growing franchise as a retail bank of choice as well as its deep rooted financial inclusion strategy in Jigawa

State.â&#x20AC;&#x2122;â&#x20AC;&#x2122; Coming barely two months after the bank won two highly awards, namely, the Central Bank of Nigeria (CBN) 2018 sustainable banking award for â&#x20AC;&#x2DC;Sustainable Transaction of the Year in Agricultureâ&#x20AC;&#x2122; and Presidential Award in recognition of the Bankâ&#x20AC;&#x2122;s participation under the Anchor Borrowers Programme, a statement said the feat confirmed the bank as a leader in agricultural financing.

MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

NOVEMBER 2018 Money Supply (M3)

31,794,803.44

-- CBN Bills Held by Money Holding Sectors

6,333,064.28

Money Supply (M2)

25,461,739.17

-- Quasi Money

14,773,076.98

-- Narrow Money (M1)

10,688,662.18

---- Currency Outside Banks

1,711,763.59

---- Demand Deposits

8,976,898.59

Net Foreign Assets (NFA)

18,990,400.78

Net Domestic Assets(NDA)

12,804,402.66

-- Net Domestic Credit (NDC)

26,062,986.22

---- Credit to Government (Net)

2,980,229.66

---- Memo: Credit to Govt. (Net) less FMA

7,093,619.43

---- Memo: Fed. and Mirror Accounts (FMA)

-4,144,571.43

---- Credit to Private Sector (CPS)

23,082,756.56

--Other Assets Net

13,258,583.57

Reserve Money (Base Money

6,811,192.37

--Currency in Circulation

2,100,129.91

--Banks Reserves

4,366,259.05

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, 18 JANUARY 2019

The price of OPEC basket of fourteen crudes stood at $66.03 a barrel on Monday, compared with $64.87 the previous Friday, according to OPEC Secretariat calculations.

The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), ZaďŹ ro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

SOURCE: OPEC headquarters, Vienna

47

T H I S D AY Ëž Í°ÍŽË&#x153; Ͱ͎ͯ͡

MARKET NEWS

Zenith Bank Posts N193bn Profit, Proposes N2.50 Final Dividend Goddy Egene Zenith Bank Plc has reported a growth of 16. 2 per cent in its profit before tax (PBT) as well as 11.3 per cent growth in profit after tax (PAT) for the year ended December 31, 2018.

According to the audited results made available yesterday, the lender recorded a decline in gross earnings from N745.189 billion in 2017 to N630.344 billion in 2018. Net interest

income improved to N295.594 billion compared with N257.991 billion in 2017.

However, impairment charges were reduced from N98.29 billion to N18.372 billion. Similarly, the bank reduced operating expenses from N144.893 billion to N137.897 billion.

Consequently, PBT improved from N199.319 billion in 2017 to N231.685 billion, while PAT rose from N173.791 billion to N193.424 billion in 2018. The

P R I C E S MAIN BOARD

F O R DEALS

directors have proposed a final dividend of N2.50 per share which in addition to the N0.30 per share paid as interim dividend amounts to N2.80 per share, compared to N2.70 in 2017. A further analysis of the results showed that Zenith Bank Plc was cautions in loans advancement to customers in 2018. Loans and advancements fell from N1.823 trillion, as against N2.1 trillion in 2017. But customers deposit

S E C U R I T I E S MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

increased from N3.437 trillion to N3.690 trillion in 2018.

The stock market reacted positively to the Zenith Bank Plc â&#x20AC;&#x2DC;s results as its share price gained 5.6 per cent to close higher at N25.35 per share. In all, the stock market rebounded yesterday with the Nigerian Stock Exchange (NSE) All-Share Index rising 0.7 per cent to close at 32,406.18 compared with a decline of 1.61 per cent the

T R A D E D MAIN BOARD

A S

previous day.

Similarly, market capitalisation added N80.6 billion to close at N12.1 trillion. In all, 16 stocks appreciated led

by Japaul Oil and Maritime Services Plc and Sovereign Trust Insurance Plc with 9.5 per cent apiece, trailed by Associated Bus Company Plc with 9.0 per cent. Academy Press Plc chalked up 8.1 per cent, while Oando Plc garnered 6.2 per cent.

O F

Conversely, First Aluminium Nigeria Plc led the price losers with 10 per cent, trailed by Transcorp Plc with 9.7 per cent. Unity Bank Plc and Union Diagnostic and Clinical Services Plc shed 9.6 per cent and 6.9 per cent in that order.

Meanwhile, activity level also strengthened as volume and value traded improved 55.4 per cent and 23.7 per cent to 361.8 million shares and N4.2 billion respectively.

0 4 / 0 2 / 2 0 1 9 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

48

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

MARKET NEWS

FMDQ, NSE List Sterling Investment Management SPV N32.9bn Bond Goddy Egene FMDQ OTC Securities Exchange and the Nigerian Stock Exchange (NSE) yesterday listed the listed the Sterling Investment Management SPV Plc N32.90 billion Series 2, 7-Year 16.5 per cent Fixed Rate Unsecured Bond, under a N65.00 billion Debt Issuance Programme .

Speaking at the listing ceremony, Managing Director and Chief

Executive of Sterling Bank Plc, Mr. Abubakar Suleiman, said: â&#x20AC;&#x153;We are pleased to list the Sterling SPV Bond on FMDQ and NSE. The success of the bond reflects the increasing appetite of local institutional investors for long term debt instruments. We are happy with the very strong outcome which shows investorsâ&#x20AC;&#x2122; confidence in Sterling Bank Plc, and further strengthens and diversifies our

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

corporate funding strategy. The bank looks forward to same peerless support in its future bond issues.

We would also like to use this opportunity to appreciate FMDQ for its strategic role in deepening the Nigerian DCM by facilitating active secondary market trades and promoting the transparency of the listed instruments.â&#x20AC;?

He said the bank looked forward to same peerless support in its

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 18Feb-2019, unless otherwise stated.

future bond issues and appreciated FMDQ for its strategic role in deepening the Nigerian DCM by facilitating active secondary market trades and promoting the transparency of the listed instruments.

Suleiman also appreciated stockbrokers for supporting the bank, adding that share price has reflected the true value of the bank.

Speaking at the listing ceremony,

Associate Executive Director, Capital Markets, FMDQ, Ms. Tumi Sekoni, congratulated the issuer for having successfully raised N32.90 billion from the Nigerian debt capital market (DCM). She commended the issuer for yet again joining the league of corporate entities whose debt profiles have been raised via the value-packed listings, quotations and noting service offered by FMDQ, for the second time.

According to her, the listing would contribute to the growth of the Nigerian corporate bond market, consistently injecting renewed confidence into the DCM, assuring all parties that FMDQ would continue to innovate and provide efficient services, as may be necessary, to support issuers and investors, towards achieving a globally competitive and operationally excellent DCM.

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 1.49% ACAP Income Funds 0.62 0.62 11.50% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 13.28% AIICO Balanced Fund 2.28 2.30 2.42% 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 17.47 18.00 5.32% ARM Discovery Fund 371.64 382.84 4.21% ARM Ethical Fund 29.17 30.05 3.29% ARM Money Market Fund 1.00 1.00 13.55% 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 103.62 104.35 2.40% AXA Mansard Money Market Fund 1.00 1.00 13.50% 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 14.06% Paramount Equity Fund 12.26 12.37 3.84% Women's Investment Fund 105.50 106.02 1.81% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 13.67% Cordros Milestone Fund 2023 100.06 100.48 Cordros Milestone Fund 2028 102.70 103.26 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 13.31% Coronation Balanced Fund 0.85 0.85 Coronation Fixed Income Fund 1.15 1.15 2.45% EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A N/A N/A N/A EDC Nigeria Money Market Fund Class B N/A N/A N/A FBNQUEST ASSET MANAGEMENT LTD invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Fixed Income Fund 1,212.70 1,213.47 2.30% FBN Heritage Fund 146.14 147.49 1.90% FBN Money Market Fund 100.00 100.00 14.23% FBN Nigeria Eurobond (USD) Fund - Institutional 115.36 115.84 1.29% FBN Nigeria Eurobond (USD) Fund - Retail 115.31 115.79 1.50% FBN Nigeria Smart Beta Equity Fund 153.02 155.27 2.01% 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 1.24 1.26 1.27% Legacy Debt Fund 3.30 3.30 1.61% Legacy USD Bond Fund 1.04 1.04 0.60% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Growth Fund N/A N/A N/A Coral Income Fund N/A N/A N/A GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund 100.00 100.00 12.88% Nigeria Entertainment Fund 108.82 109.33 2.43% 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 13.45% Vantage Balanced Fund 2.17 2.19 0.91% Vantage Guaranteed Income Fund 1.00 1.00 15.82% Kedari Investment Fund (KIF) 122.80 2.04 -50.07%

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 1.16 1.18 1.54% Lotus Halal Fixed Income Fund 1,088.99 1,088.99 1.82% 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 11.74 11.83 2.02% Meristem Money Market Fund 10.00 10.00 12.43% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.36 1.39 6.70% PACAM Fixed Income Fund 12.33 12.39 1.04% PACAM Money Market Fund 10.00 10.00 12.04% 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 121.90 122.45 0.96% 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 1.02 1.02 1.85% 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 2,376.93 2,391.68 4.89% Stanbic IBTC Bond Fund 192.91 192.91 2.77% Stanbic IBTC Ethical Fund 0.98 1.00 4.21% Stanbic IBTC Guaranteed Investment Fund 250.70 251.00 3.51% Stanbic IBTC Iman Fund 169.72 171.61 4.03% Stanbic IBTC Money Market Fund 100.00 100.00 13.39% Stanbic IBTC Nigerian Equity Fund 8,690.76 8,795.49 4.14% Stanbic IBTC Dollar Fund (USD) 1.12 1.12 3.53% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.20 1.21 0.42% United Capital Bond Fund 1.62 1.62 1.69% United Capital Equity Fund 0.71 0.72 -0.35% United Capital Money Market Fund 1.00 1.00 13.15% United Capital Eurobond Fund 108.15 108.15 0.83% United Capital Wealth for Women Fund 1.10 1.10 0.53% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Equity Fund 11.32 11.48 7.60% Zenith Ethical Fund 12.45 12.57 4.48% Zenith Income Fund 20.95 20.95 8.80% Zenith Money Market Fund 1.00 1.00 12.12%

REITS NAV Per Share

Yield / T-Rtn

5.95 118.75 51.93

-39.35% 0.09% 0.03%

Bid Price

Offer Price

Yield / T-Rtn

10.94 117.09 91.63

11.04 119.62 93.35

3.65% -0.16% 3.35%

Fund Name FSDH UPDC Real Estate Investment Fund SFS Skye Shelter Fund Union Homes REIT

EXCHANGE TRADED FUNDS Fund Name Lotus Halal Equity Exchange Traded Fund SIAML Pension ETF 40 Stanbic IBTC ETF 30 Fund

VETIVA FUND MANAGERS LTD Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Vetiva Banking Exchange Traded Fund Vetiva Consumer Goods Exchange Traded Fund Vetiva GrifďŹ n 30 Exchange Traded Fund Vetiva Industrial Goods Exchange Traded Fund Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

4.20 7.49 15.17 12.58 146.25

4.24 7.57 15.27 12.78 148.25

4.86% -1.73% 1.44% 1.74% 1.88%

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.

49

WEDNESDAY FEBRUARY 20, 2019 ˾ T H I S D AY

INTERNATIONAL

Bernie Sanders to Seek US Presidency again in 2020 United States senator, Bernie Sanders, the progressive populist, who mounted a fierce challenge to frontrunner Hillary Clinton in the 2016 White House campaign, said on Tuesday he will again seek the Democratic Party’s presidential nomination in 2020.

Sanders, 77, an independent, who caucuses with the Democrats, announced his candidacy in an email to supporters, pledging to build a vast grassroots movement to confront the special interests that he said dominate government and politics.

In his campaign, Sanders said he would push for many of the same issues that powered his 2016 bid and resonated with younger voters, including universal

healthcare, raising the minimum wage, and free public college tuition.

“Our campaign is about creating a government and economy that works for the many, not just the few,” Sanders said in the email, asking for one million people to sign up to start the effort.

The Vermont senator promised a “very different campaign” in an effort to unseat Republican President Donald Trump.

Sanders 2016 candidacy against Clinton was a long shot, but he ended up capturing 23 state nominating contests and pushing the party to the left, generating tension between its establishment and liberal wings that has not entirely abated.

This time around, Sanders

has been among the leaders in opinion polls of prospective 2020 candidates, but he faces other liberal progressives touting many of the same ideas he brought into the party mainstream.

That could make it harder for him to generate the same level of fervent support he did four years ago.

Sanders is also likely to face questions about his age and relevance in a party that is increasingly advancing more diverse and fresh voices, including those of women

and minorities – groups that Sanders struggled to win over in 2016.

Among those already in the Democratic race are fellow Sen. Cory Booker of New Jersey, Kamala Harris of California, Kirsten Gillibrand of New York, Amy Klobuchar of Minnesota and Elizabeth Warren of Massachusetts.

A former mayor of Burlington, Vermont, Sanders won a U.S. House of Representatives seat in 1990, making him the first independent elected to the

French police on Tuesday killed a man who wounded two pedestrians in a knife attack in the southern city of Marseille,

officials said.

A third person suffered leg wounds from bullet fragments, police said.

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political action committees, or PACs, relying on a flood of small-dollar donations.

When he ultimately conceded and spoke at the Democratic National Convention in support of Clinton, he was jeered by some of his supporters. At the time, Sanders said his populist platform would endure.

The primaries and caucuses that determine the party’s nominee will begin in February 2020 in Iowa, and the Democratic winner is likely to face Trump in the general election in November.

Police Kill Man Who Injured Two in Marseille Knife Attack

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– – – –

House in 40 years.

In 2006, he won a U.S. Senate seat and in 2018 was voted in for a third six-year term.

His push against Clinton, a former first lady, U.S. senator and secretary of state, was notable because few Democrats seemed inclined to challenge her claim on the nomination.

Sanders’ candidacy swiftly became a phenomenon, as he spoke to swelling crowds and garnered passionate support on social media.

Unlike Clinton, he refused to take money from corporate

The knife attack occurred in the afternoon on a busy street in the centre of the port city, the second largest in France. Police said they

opened fire on the assailant when he threatened them with a weapon.

The reason for the attack was not immediately known.

50

WEDNESDAY FEBRUARY20, 2019 ˾ T H I S D AY

NEWS

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

Avoid Panic Measures, Abdulsalami Peace Committee Tells INEC Adedayo Akinwale in Abuja

The National Peace Committee headed by former Head of State, Gen. Abdulsalami Abubakar (rtd), has called on the Independent National Electoral Commission (INEC) to avoid panic measures and should not get distracted by the accusations by politicians ahead of the Saturday’s elections.

The committee made the call yesterday in a statement jointly signed by Abubakar and Bishop Mathew Kukah, where it acknowledged that the postponement of the elections by the electoral body had the potential to dampen the confidence of the people in the political process.

The committee added that

though the Chairman of INEC, Prof. Mahmood Yakubu, had already addressed the country and the leaders of all the political parties, very little has happened to assuage the deep feeling of embarrassment, pain, and disappointment across the land.

It stated: “The impact of this decision has permeated every stratum of our lives and has the potential to dampen the confidence of our people in the political process. It has further deepened anxieties within the international community about our country.

“There is enough blame to pass around. The real challenge now is for us as a nation, to reach out to the deepest instincts of faith in

God and our country. We must put everything aside and see this as a battle that all of us must win. The challenge is not who to sacrifice, but what sacrifice to make.

“After trying to explain your (INEC) situation, it is now important to focus on how best to reclaim your credibility and integrity. Patiently continue to focus on attaining internal cohesion and coordination. Do not give room to external enemies to infiltrate and destroy the confidence and trust that your organisation has earned.

“Avoid panic measures,

continue to communicate effectively with Nigerians and build up your confidence. Listen to the politicians but do not be distracted. Perhaps, just perhaps, your being accused by both sides might be your vindication. You might still be vindicated in the end. Focus on the big picture. “ The committee explained further that while it understood the right of Nigerians to feel betrayed and humiliated by INEC, it pleaded to Nigerians to see this as a watershed in the life of the country’s fledging democracy.

According to the committee,

“the only way we can ensure a steady democracy is for us to learn the lessons from these sad developments. Therefore, we appeal to you not to count the cost of the set back, but respond to the call to patriotism. Do not relent; go out and fulfill your duty to your family and country on election day. We will soon turn the corner in hope. Rather than despair, rise up to defend our democracy.”

It stressed further that politicians must own the electoral process by showing their readiness to collaborate with INEC and to

inspire the people to new heights.

It said, “the challenge before you goes beyond the narrowness of political opportunities. This is not time to trade blames or to incite your supporters. Be temperate in your language so that we do not inadvertently set up our people for violence.

“Sadly, for us, politics of the last few years have further polarised our people along dangerous religious, regional, ethnic and party lines. We must aim at trying to avert this precipice and try to heal our nation.”

Boko Haram Kills 18 Firewood Merchants in Borno Michael Olugbode inMaiduguri Suspected Boko Haram members have attacked a group of firewood merchants in Borno State, ‘slaughtering not less than 18 persons’.

A source told our correspondent that the 18 persons were killed at Koshebe in Jere Local Government Area of the state when they went out to search for firewood and charcoal.

The Boko Haram latest victims often load the fire woods and charcoals in vehicles and sell them in Maiduguri, the state capital, which is also the birthplace of the Islamic terrorist group.

The source, who spoke anonymously to our correspondent, said the latest killing happened last Monday when the victims had gone out for their business in Maiduguri.

Jere, which is part of the Maiduguri metropolis, is largely believed to be unsafe as Boko Haram insurgents are believed to be living in some settlements in the area.

A police officer, who worked in one of the Divisional Police Offices

in Jere, speaking anonymously to our correspondent, revealed that 10 corpses were evacuated from the scene of the attack to Maiduguri.

He said eight other corpses were yet to be evacuated as the vehicle could not traverse the difficult terrain to pick them from where they were.

Another source said he saw security vehicles conveying the corpses along KadamariMaiduguri road at about 2p.m. yesterday.

He said: “There was an ambush on firewood sellers who had gone to the bush to fetch their products by suspected members of Boko Haram in Koshebe general area of Jere Local Government Area of Borno State.

“18 dead bodies were seen at the scene of the attacks, but as it is, only 10 dead bodies were recovered and evacuated so far by our security forces in conjunction with members of Civilian Joint Task Force (CJTF).

“The remaining eight dead bodies were yet to be evacuated due to inaccessibility of the area.”

DSS Warns Public against Dealing with Sacked DG, Daura Alex Enumah in Abuja S The Department of State Services (DSS), in what appears to be a disclaimer, yesterday warned members of the public against dealing with former Director General (DG) of the Service, Lawal Daura.

Daura, who was the DG between 2015 and 2018, was sacked by the then acting President, Yemi Osinbajo, for authorising the invasion of the National Assembly by personnel of the DSS last year.

The DSS in a statement also cleared the air on the assumption in some quarters that Daura, though dismissed from the service, still wields a lot of influence over the operations of the DSS. It warned that the assumption is not only false, adding that those dealing with him in any capacity do so at their own risk.

“The attention of the Department of State Services (DSS)

has been drawn to insinuations and wide speculations that its former Director General, Alhaji Lawal Musa Daura, still controls affairs at the agency, long after his removal from office.

“While the Service debunks this false belief, it warns that any person or group that further engages him or his representatives/associates does so at their own peril.

“The Service will not tolerate acts of impersonation designed to undermine it and will decisively deal with person(s), no matter how highly placed, that may engage in such behaviour. The public should therefore note this and avoid circumstances under which unsuspecting persons may be deceived,” the statement added.

The DSS, however, assured public that it would continue to recommit itself to the core values of professionalism, selflessness, vigilance and the rule of law that it has always been identified with.

ALL EYES ON CREDIBLE ELECTIONS...

L-R: Former Prime Minister of Ethiopia, Hailmariam Desalegn; former President of Tanzania, Jakaya Kikwete; and Chairman, Independent National Electoral Commission (INEC), Prof. Mahmood Yakubu, after a press briefing by the INEC chairman to give an update on the preparation for the resheduled general election in Abuja...yesterday

Court Orders EFCC to Release Former Skye Bank Chairman,Tunde Ayeni Alex Enumah in Abuja Justice Yusuf Halilu of Abuja High Court yesterday ordered the Economic and Financial Crimes Commission (EFCC) to immediately release former Chairman of the defunct Skye Bank, Tunde Ayeni, who is currently being detained by the anti-graft agency.

Justice Halilu gave the order shortly after the court set aside an earlier order it granted the EFCC to detain Ayeni for 14 days.

Delivering the ruling in an enforcement of fundamental human right suit filed by Ayeni, the court held that the continued detention of the former Skye Bank chairman was illegal because the commission had suppressed facts which misled the court into granting its application for the detention of the plaintiff in the first place.

The anti-graft agency had last week approached the court through an ex-parte application seeking a 14-day remand order of Ayeni.

The EFCC had premised the request on the need to investigate a petition submitted by the office of the vice president in respect of his alleged roles as the chairman of the defunct Skye Bank.

The court then granted the said ex-parte application.

Ayeni had however approached the court to challenge the order as well as asking it to set aside the said remand order.

His lawyer, Ahmed Raji (SAN), submitted that the application was challenging the jurisdiction of the court and the action of the commission.

According to him, there is a pending suit before the Federal High Court against the applicant on the same subject matter and that the trial judge at the Federal High Court, Justice Nnamdi Dimgba, had in the particular case admitted him to bail.

He added that the bail condition had since been perfected.

Raji argued that the subjectmatter in which the applicant was detained centres around Skye Bank issue which is already before the Federal High Court.

He, however, prayed the court to set aside the remand order and release the applicant.

Responding, EFCC counsel, A.I Audu, opposed the application on the grounds that the subject-matter of which the applicant is being detained was fresh, and quite different from that of the matter before the Federal High Court.

He added that apart from the

petition submitted by the office of the vice president, the acting chairman of EFCC also received a petition against the applicant from a non-governmental organisation.

Audu, however, added that the applicant was invited based on the petition that he received about N8 billion from the Central Bank of Nigeria (CBN) to buy over Union Homes.

He further submitted that the applicant had been giving useful information to the commission but fell ill along the way and was consequently taken to the hospital.

According to him, it was the illness of the applicant that prompted the commission to seek an order to further remand him to complete the investigation.

Replying on point of law, Raji countered the respondent’s submission, stating that the petition which the respondent relied on to detain the applicant was dated 2015.

He further submitted that the amount in question was a loan which the applicant is already servicing.

However, he queried which law of the land made accessing a loan a crime.

After listening to the submissions of counsel, Justice Halilu said it was clear that the respondent suppressed some facts when it

came to ask for a remand order.

He noted that the respondent did not attach the fresh petition it claimed was written against the applicant, rather attached a petition sent from the office of the vice president.

Justice Halilu held that the court was not aware of all the facts presented by the applicant and which the respondent could not deny.

“Having considered all the facts before the court, it is clear that the respondent suppressed facts to mislead the court. If indeed there is a fresh petition against the applicant, and a pending matter is before the Federal High Court, the respondent need not a remand order, but to apply to amend the charge in which it is prosecuting the applicant.

“By coming for a remand order, the respondent had come to tamper with the sacred right of the applicant, which he enjoys.

I wonder why the respondent do not attach the fresh petition it claimed it received. What I have before me is a petition written by the office of the vice president.

“On this note, I hereby set aside the earlier remand order and order the immediate release of the applicant,” Justice Halilu held.

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Osinbajo Moves to Resolve Zamfara APC Crisis Ejiofor Alike Vice President Yemi Osinbajo has made a proposal aimed at resolving the protracted crisis rocking the All Progressives Congress (APC) in Zamfara State, Senator Kabiru Marafa,

APC-Zamfara Central, has said.

Marafa disclosed this yesterday while speaking with State House correspondents after a private meeting with Osinbajo at the Presidential Villa, Abuja.

He said the postponement of the 2019 presidential and National

Atiku Rejects Alleged Plan to Postpone Elections in Borno, Adamawa, Kaduna Hamid Ayodeji The presidential candidate of Peoples Democratic Party (PDP), Alhaji Atiku Abubakar, has rejected the reported plan by President Muhammadu Buhari to use the Independent National Electoral Commission (INEC) to postpone the forthcoming elections in some northern states, including Borno, Adamawa and Kaduna, to give the APC-led federal government enough time to concentrate efforts to rig in those states on a later date.

In a statement issued in Abuja yesterday by Atiku’s Special Assistant on Public Communication, Mr. Phrank Shaibu, the PDP presidential candidate warned that failure to hold elections on the same day across the country would be an invitation to rigging, thuggery and violence. ‘’Anything short of a simultaneous holding of the scheduled elections across the country on Saturday is not acceptable to us,’’ Atiku said.

He said reports available to the PDP said the deal struck at a closeddoor meeting yesterday between the federal government and the Governors of Borno, Adamawa and Kaduna States reflected the desperation of the APC to ‘’capture’’ the states and some others through election postponement. ‘’The deal, cut at a meeting with some northern governors and

service chiefs in the presidential villa in Abuja is simple: The federal government will shift election in northern states of Borno, Adamawa and Kaduna, citing security concerns to provide the APC the opportunity use security agents to massively rig polls in those state at a later date,’’ the statement said.

Atiku said the implication of the plot is that President Buhari, “for all his sweet words on ensuring free and fair elections and avoiding unethical measures to win at all costs, is ready to do anything just to ‘’capture’’ Borno, Adamawa, Kaduna and other states using security reasons as a pretext”.

The PDP presidential candidate, however, said his party would not lose any sleep over the ignoble deal, since the battle to rescue Nigeria from incompetence and bad leadership will be fought by the people themselves and not by some desperate APC governors and or President Buhari .

He said Nigerians were aware that the APC- led federal government has failed in all their despicable options to enable them to cling on to power and was now resorting to the idea of shifting elections.

Atiku said his persistent demand for a strict adherence to the right way of doing things, as far as the 2019 general election are concerned, is in the overall interest of Nigerians and the growth of democracy

INEC: We Won’t Shift Election Date Again Shola Oyeyipo inAbuja Going by the position expressed

by National Commissioner and Chairman, Information and Voter Education Committee of the Independent National Electoral Commission (INEC), Mr. Festus Okoye, the electoral body has corrected all logistic issues that led to the postponement of last Saturday election and is not prepared for further extension of the election date.

Okoye, who was a guest on THISDAY sister television station, ARISE News Morning Show yesterday, when asked if stakeholders collectively agree to extend the election day further, said: “No! We are going ahead with the election. We are ready for this election.”

Answering question on call by President Muhammadu Buhari to the military to deal ruthlessly with electoral offenders, and his statement that death awaits ballot box snatchers, Okoye said at the level of INEC, various issues relating to electoral offences, interference with electoral processes are handled within the framework of extant laws and the Electoral Act. “Honestly, I cannot tell you by heart the exact section of the

law or the exact penalties for various categories of offence, but on the issue of vote buying, there is nothing like vote buying in the Electoral Act. We call it inducement.

“There are various issues of electoral offences. There are issues related to interfering with the electoral process-interfering with electoral officers doing his or her work, trying to induce an electoral officer, negligent conduct by electoral officer and disruption of the electoral process-so it depends on the particular one the Electoral Act adduces in terms of electoral offences. But there are also some offences committed even within precinct of the polling unit that can be taken care of by the penal and the criminal codes.

So, it depends on the specificity of the offence before you can make a determination of the penalty.”

Noting that as a public institution, INEC had made it a point of responsibility to adequately update Nigerians on the circumstances that led to the postponement of the February 16, 2019, presidential and National Assembly election, Okoye noted that “we have told Nigerians the truth and we never misrepresented anything about the issue.”

Assembly elections provided an opportunity to APC in Zamfara State to resolve the stalemate.

The Independent National Electoral Commission (INEC) has insisted that the state APC will not field candidates in the 2019 elections, following unresolved issues arising from the party’s primaries in the state.

A Zamfara State High Court in Gusau and a Federal High Court in Abuja on January 25, gave conflicting judgments on the Zamfara State APC crisis.

While the state High Court

upheld the primary election conducted by the state chapter of APC, the Federal High Court in Abuja barred the party from fielding candidates in Zamfara State in the upcoming general elections.

Marafa said he was in Presidential Villa on the invitation of the vice president.

“It has to do with the political impasse in the state; he called to see if we can work a way out of it.

“Our discussions were quite fruitful; it was an honest discussion; he is a good man and

he gave out a proposal, which we are going to look at because I am not alone in the journey; I have followers and friends; we are going to look at it and I promised I will get back to him; today or tomorrow.

“The vice president is concerned that the problem still lingers up until this time and he promised to do the needful and we will tap from his years of experience and wisdom,” the lawmaker explained.

According to him, the postponement offered a window for discussion.

He said that if not because of the postponement, he would not have been in the Villa to discuss anything.

“It goes without saying that it is an advantage; if the election had actually taken place last Saturday, there will not be anything to discuss.

“So, I think it is an understatement to even to say it is an advantage to Zamfara State,” he said.

Marafa said the postponement had given Zamfara State APC five more days within which to work out something.

STRATEGISING FOR THE POLLS...

L-R: Minister of Education, Mallam Adamu Adamu; National Leader, All Progressives Congress (APC), Bola AhmedTinubu; and APC National Chairman, Adams Ohiomhole, after a meeting with President Muhammadu Buhari at the Presidential Villa , Abuja...yesterday GODWIN OMOIGUI

Military Alleges Plot to Disrupt Elections in N’Delta Emmanuel AddehinYenagoa The leadership of the Nigerian Army in the Niger Delta yesterday said it had uncovered a plan by certain elements being sponsored by some unnamed politicians to disrupt next Saturday’s election in the region.

General Officer Commanding (GOC) of 6 Division, Port Harcourt, covering Delta, Bayelsa, Rivers and Akwa Ibom States, Major-Gen. Jamil Sarham, in a statement made available to journalists, disclosed that the hoodlums had also procured military uniforms to deceive members of the public.

Signed on his behalf by Col. Aminu Iliyasu, Deputy Director, Army Public Relations, the military chief said anybody who breaches the law or disrupts the electoral process would be ruthlessly dealt with according to the dictates of the law.

“Credible intelligence available to Headquarters, 6 Division Nigerian Army (NA), has uncovered an unholy plan by some political actors within its Area of Responsibility (AOR) to arm and sponsor miscreants.

“This is in addition to using military-like fatigue dress for deception to cause pandemonium at polling stations for their political gain.

“While covert efforts are ongoing to track the source of the weapons and the agents involved in conjunction with sister security agencies, authorities of 6 Division NA wish to unequivocally state that anyone found to be disrupting the electoral process under any guise will be decisively dealt with in accordance with the laws, no matter how highly placed he or she is” the statement said.

The army urged all eligible voters to come out and vote on the rescheduled dates, noting that it

will ensure the safety of all residents of the Niger Delta.

It added: “To this end, the General Officer Commanding (GOC) 6 Division and Land Component Commander (LCC) OPDS Major Gen. Jamil Sarham, wish to reassure the good people of Niger Delta of providing adequate security in conjunction with other security agencies before, during and after the 2019 General Elections.

“He also thanks the good citizens of the Niger Delta for their cooperation and assistance so far rendered to the Division particularly in the area of information dissemination and urge them to do more” Meanwhile, Governor Seriake Dickson of Bayelsa State has called on President Muhammadu Buhari to ensure that the directive to punish election riggers would be implemented across party lines.

Dickson maintained that while it was heartwarming that the President has publicly denounced hoodlums who may want to disrupt the polls, it was also important to ensure that carrying out the order was not selective.

“I listened to the President’s comments calling on the security agencies to deal with troublemakers.

I hope that it will also apply to his party leaders.

“Especially in this state where they are election riggers who using security agencies to intimidate fellow citizens and their communities.

“It is heartwarming that the president has condemned those who rig elections, but we also need to watch closely how the security agencies will apply that in respect of people always causing trouble, even his party men” Dickson said.

Court of Appeal Sacks Exco of Kwara APC Faction HammedShittuinIlorin The Court of Appeal in Ilorin, the Kwara State capital, yesterday sacked the Hon Ishola Balogun-Fulani faction of theAll Progressives Congress (APC) in the state.

The court thereafter, affirmed the authenticity of the Hon Bashir Bolarinwa-led APC executives in the state.

The state High Court had on December 19 last year ruled that the dissolved Ishola Balogun-Fulani

executive is the authentic exco of the APC in the state.

The lower court thus nullified any candidate produced by the Bashir Bolarinwa executives for the forthcoming elections.

Dissatisfied by the judgement of the lower court, the APC (appellant) approached the appellate court for redress.

The appellants’ grounds for appeal are that “the claimants cannot join the Independent National Electoral Commission (INEC) at the state high

court because INEC is a federal government agency; the amendment of their originating summons was brought in bad faith.

“They brought issues that were not in existence as at the time of filing the suit originally. Even though the lower court has discretion, its discretion must be exercised judicially and judiciously which was not done in this circumstance.”

The appellate court in an interlocutory judgement it delivered last week upheld the nomination

of AbdulRahman AbdulRazaq as the state APC governorship candidate.

Reading his judgement on the main appeal yesterday in Ilorin, Justice Ibrahim Salauwa set aside the judgement of the lower court and upheld the Bashir Bolainwa-led executives.

He added there would be no reason to deliver a judgement on the same matter with the same parties after the interlocutory judgement of last week.

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Falana, Others Express Concerns over Invitation of INEC Officials by DSS Hamid Ayodeji A human rights activist and Senior Advocate of Nigeria (SAN), Mr. Femi Falana; legal practitioner, Ms. Ayo Obe; Chair, Election Analysis Centre, Professor Adele Jinadu; political economist, Professor Ebere Onwudiwe; political scientist, Professor Jibrin Ibrahim; and Co-Chair, Situation Room, Y Z Ya’u, have expressed concern over Monday’s invitation of some officials of the Independent National Electoral Commission (INEC) by the Department of State Services (DSS).

In a statement issued jointly with the Director, Centre for Democracy and Development,

Ms. Idayat Hassan; Country Director, Plan International, Dr. Hussaini Abdu; and Executive Director, CISLAC, Auwal Musa Rafsanjani, Falana and others said they were concerned over the cancelled the invitation extended to the INEC Commissioner, Professor Okechukwu Ibeanu; Director of Information and Communication Technology (ICT), Chidi Nwafor; Director of Procurement, Ken Ukeagu; Director of Voter Education and Publicity, Osaze Uzzi, and Assistant Director of ICT, Bimbo Oladunjoye.

The group said its concerns stemmed from a web design that suddenly emerged on the social media presenting alleged linkages

between the Atiku Campaign Organisation and leading civil society activists of Igbo ethnicity and Ibeanu.

According to the group, key civil society activists targeted in the campaign include: Olisa Agbakoba (SAN), Clement Nwankwo, Sam Amadi, Innocent Chukwuma and Chidi Odinkalu.

The group added that the alleged linkages were also drawn to Ibeanu and Mike Ogini of INEC; Senate President, Dr. Bukola Saraki and the Ballard facilitation of the Atiku trip to the United States, including even President Donald Trump.

“We know Okechukwu Ibeanu to be a committed democrat who

has devoted his life to the struggle for peace and democracy in Nigeria.

He is a respected professor of political science and was in charge of logistics, having taken over from Amina Zakari in October 2018. Subsequently, a different ad hoc committee was set up specifically for the elections. The ad hoc committee has 17 members, and is headed by Ahmed Tijjani Mu’azu, a retired Air Vice Marshal.

Making Ibeanu the fall guy for the botched elections is therefore completely wrong. INEC has collective responsibility for the failure,” the group explained.

The group alleged that it appears to be an orchestrated

campaign against Ibeanu.

“His house in Enugu and his car have been broken into with valuables, including laptops and iPads, taken away,” it said.

The group condemned the orchestrated campaign to smear the names of these people, most of whom, it said, had devoted their lives to the struggle against military rule and for democracy for the past three to four decades.

It noted that there are too many conspiracy theories in circulation and a great deal of mudslinging in the campaigns, adding that the campaign has been characterised by strong ethno-religious mobilisation on

all sides, which can be harmful to nation building.

“The said campaign is divisive and is geared to smear an ethnic group and present them as enemies of democracy and free and fair elections. The smear campaign can only do harm to the difficult process of consolidation of Nigerian democracy,” the group said.

It appealed to all stakeholders to desist from pursuing campaigns of calumny against any group and focus on ensuring that the elections hold in a spirit of nation building that would allow the winners of the elections carry forward the Nigerian national project.

El-Rufai: 130, Not 66 Killed in Kaduna Call Kaduna gov to order, Southern, Middle Belt leaders urge FG Omololu Ogunmade and Shola Oyeyipo in Abuja Kaduna State Governor, Nasir el-Rufai, yesterday in Abuja said contrary to the earlier figure of 66 Fulani that he said were killed in Kajuru Local Government Area (LGA) of the state on Friday, the figure was actually 130.

El-Rufai has also disclosed that in view of insecurity in the state, he had requested for the deployment of military personnel to flash points during the February 23 and March 9 elections, which was granted by President Muhammadu Buhari.

He also stated that the governors of Borno, Yobe, Adamawa States who were present at the security meeting with the President yesterday also presented security situation reports in their various states.

El-Rufai who said he got to know about the latest figure through an ongoing investigation by the Nigerian Police Force (NPF), had last Friday, disclosed that unknown gunmen killed 66 persons in the area.

However, the Southern and Middle Belt Leaders’ Forum (SMBLF), has advised relevant authorities in Nigeria, particularly the federal government, to call the Kaduna governor to order to prevent him from stoking ethnic crisis in his state.

The governor disclosed the latest figure yesterday while briefing State House correspondents after an emergency security meeting called by President Buhari.

According to him, “now, what we are hearing, the last report we got is that over 130 people were killed not even 66.”

Aside service chiefs and the acting Inspector-General of Police, four Northern governors, including El-Rufai, attended the meeting. The other three governors were Bindow Jurila (Adamawa), Ibrahim Geidam (Yobe) and Kashim Shettima (Borno).

El-Rufai said to ascertain the authenticity of the figure, Fulani leaders would provide the full list of those killed in the attack to the state government.

According to him, Kaduna State Government would soon release the pictures of the slain

victims as well as footages of the burial conducted by members of the Nigeria Army two days after the massacre when their bodies were decomposing.

He said, “Now, what we are hearing, the last report we got is that, over 130 people were killed not even 66. And the Fulani leaders are providing the names of all these people. We have the list and we will release it to the press.”

Meanwhile, the Southern and Middle Belt Leaders Forum (SMBLF) has advised relevant authorities in Nigeria, particularly the federal government, to call el-Rufai to order to prevent him from stoking ethnic crisis in his state. In a statement issued yesterday by the National Publicity Secretary, pan-Yoruba sociopolitical organisation, Afenifere, Mr. Yinka Odumakin, the Southern and Middle Belt Leaders’ Forum (SMBLF) alleged that the governor’s actions are capable of igniting crisis.

“The Southern and Middle Belt Leaders Forum has watched with keen interest recent attempt by the Governor of Kaduna State, Mr. Nasir el-Rufai to foment ethnic crisis in his state on the eve of the botched February 16 presidential election.

“The governor had claimed the reprisal killing of 66 Fulani people in Kajuru LGA of the state with fanfare but has yet to show evidence of deaths as we write this,” the statement said The leaders lamented that “the glee with which the governor went on air on Friday, February 15, 2019 alleging the killings was shocking for the chief executive of a state.”

They noted that “the governor went ahead to list the number of villages that were attacked but deliberately excluded Ungwan Barde where 11 people with identified corpses were killed for whatever reasons best known to him.

“The governor claimed that the incident happened on the eve of the election. But the truth by the community concerned is that the incident took place between Sunday, February 10, and Tuesday, February 12, 2019 in Ungwar Barde in Kufana district, where 11 innocent Adara people were killed by suspected herdsmen without any provocation.”

VICTORY ON THEIR MINDS…

Governor of Enugu State, Hon. Ifeanyi Ugwuanyi (right), receiving an artwork gift from the Coordinator, Enugu Clean Team Project, Reverend Father Michael Amobi Ogbu, when members of the team endorsed the governor’s re-election bid and celebrated mass for his victory at the polls, at the Holy Ghost Cathedral, Enugu… yesterday.

Abe Accuses Amaechi of Defamation, Says He Has Right to Contest Martins Ifijeh The Senator representing Rivers South East constituency, Magnus Abe, has accused the Minister of Transportation, Rotimi Amaechi, of defaming his character, saying he has the constitutional right to contest elections.

In a statement made available to THISDAY yesterday, he said Amaechi had in an interview recently, described him as a betrayer and an ingrate, noting that the name calling has been on for two years without a response from him.

“However, it has become imperative that I set the records straight on the issues raised by

the minister so that Nigerians will know the truth,” Abe said.

He explained that “firstly, the minister said the Justice of the case today demands that the riverine part of the state should produce the governor. Let me again place it on record that it was the same Amaechi who called the entire leadership of the Ogoni nation to several meetings to promise them same governorship for the same reason.

“All spectrum of the Ogoni, including the supreme council of Ogoni traditional rulers, Mosop, Kagote, the church leaders’ council, the academia are all aware of the minister’s commitment. He has told the Ogoni people on several

occasions that they were the poorest and most marginalised group in Rivers State.”

He said Amaechi simply changed his mind and made same promise to the riverine people.

“Amaechi in the interview said if I am popular why did I go to court? My response is that I learnt from the case of ‘Rotimi Amaechi Vs INEC’ such that when the rich and powerful are after you, it is only the courts that can help you.

So I simply followed Amaechi’s footsteps. If that meant he was not popular, then that is what it still means today.

“Amaechi said I fell ill when he picked Dakuku over me in 2015.

I did not fall ill. He will recollect that Rivers youths almost set the government house on fire, and that I came out to address them and went on air to appeal for calm. He can also remember that I arranged a meeting of Ogoni leaders who met with him in the aftermath of that decision. No doctor attended to me,” the senator further stressed.

The senator, however, said it was Amaechi who went into shock when Prof. Yemi Osinbajo was announced as vice presidential candidate of the All Progressives Congress (APC), adding that he was placed on drip all night for stabilisation.

INEC: Atiku Never Offered Adamawa REC $1m Bribe The Independent National Electoral Commission (INEC) has said the presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar, never offered the Resident Electoral Commissioner (REC) in Adamawa State, Kashim Gaidam, $1million or a house in Dubai.

INEC said this in a

Facebook post while reacting to social media rumours that Atiku had compromised the Adamawa elections.

A report which trended on social media on Monday read in part, “Breaking News: I rejected Atiku’s $1million bribe plus a house in DubaiAdamawa REC”.

While responding to the post, however, INEC wrote,

“the Adamawa INEC REC completely dissociates himself from the allegation that he had an offer of $1million and a house in Dubai as no offer whatsoever was ever made to him by anyone.”

The INEC REC, who threatened court action against those behind the news, emphasised that he had never met Atiku in his

life.

“I’ve never had any contact with Atiku all my life. I can state without fear of contradiction that Atiku probably does not know how I look, because I’ve never met him personally, all my life. I was shocked to read what was credited to me by some unscrupulous persons,” he said.

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Court to Jail Flag-Amachree If He Fails to Appear for Trial DavidsonIriekpen A Rivers State High Court in Port Harcourt has ordered that the sacked Rivers State factional Chairman of the state All Progressives Congress (APC), Ojukaye Flag-Amachree, will be tried and convicted in absentia if he fails to appear for trial on March 28 and is found guilty.

Flag-Amachree, who was recently sacked by the Supreme Court as Rivers State APC Chairman, is standing trial for the murder of two persons.

He was granted bail by a special panel of the Court ofAppeal on health grounds.

Since then, he has continued to evade trial, while playing key roles in the factionalised Rivers State APC. But after listening to the state

counsel, DG Adeyemi, and H. Okwukwu, for the defendant, the trial judge, Justice Chinwendu Nwogu, ordered that if the defendant fails to appear for trial on March 28, he would be tried and convicted in absentia if found guilty.

He submitted that it is allowed in law pursuant to Section 273 (a) , 165 (c) (d) , 195 and 359 (4) of the Rivers State Administration of Criminal Justice Law 2015.

The court directed that the order be pasted in a conspicuous part in the open court in the High Court Complex and advertised in two national newspapers.

Justice Nwogu ruled: “That this order of court shall be pasted in a conspicuous part in the open court in the High Court Complex, Port Harcourt, and shall also be

published in at least two national daily newspapers prior to the commencement of the defendant/ respondent’s trial in absentia pursuant to Section 36 of the 1999 Constitution of the Federal Republic of Nigeria (as amended) and Section 359(4) of the Rivers State Administration of Criminal Justice Law, 2015.

“That this order of court shall be pasted in a conspicuous part in the open court in the High Court Complex, Port Harcourt, and shall also be published in at least two national daily newspapers, 30 days prior to the next adjourned date” The court added: “That copies of the national daily newspapers wherein the order of court is published shall be deposited with the registry of this court before the next adjourned date.”

APC Campaign Council Tasks CSOs, Observers on Elections OnyebuchiEzigboinAbuja The All Progressives Congress (APC) Presidential Campaign Council Directorate of Contact and Mobilisation, has charged Civil Society Organisations (CSOs) and Election Observers to ensure effective monitoring of the electoral process ahead of the rescheduled elections.

The Director of Mobilisation in the APC campaign council, Hajia Hadiza Bala-Usman, who spoke to journalists yesterday in Abuja when she visited the YAGA Election Situation Room,

said that the party is keen on having a free and fair poll.

“As I mentioned earlier, we are keen to have a transparent, free and fair election; so, we encourage observers, and we encourage any form of interrogation of the process.

“I am here today to lend to the voice of the APC to show encouragement to CSOs, to encourage them to ensure that whatever is happening at the polling unit are highlighted for the world to see,” she said.

Hadiza Usman charged the CSOs

and observer groups to ensure that whatever incidences happened at the polling stations are brought to the attention of relevant agencies for them to take action.

She said being vigilant at polling units was necessary to ensure free, fair and credible elections.

She said the directorate is looking forward to INEC to brief Nigerians daily on its preparations for the elections and to ensure that materials were deployed to the right places and at the right time.

CENTRAL BANK OF NIGERIA www.cbn.gov.ng

TENDER NOTICE CENTRAL BANK OF NIGERIA ON BEHALF OF DMO OFFERS NIGERIAN TREASURY BILLS Notice is hereby given by the Central Bank of Nigeria on behalf of DMO that the Federal Government of Nigeria Treasury Bills of 91, 182 and 364-day tenors amounting to N24,372,790,000 N38,751,846,000 and N51,995,029,000 respectively would be issued by Dutch auction on Thursday, February 28, 2019.

All Money Market Dealers should submit bids through the CBN S4 WEB INTERFACE between 9.00 a.m. and 11.00 a.m. on Wednesday, February 27, 2019.

Each bid must be in multiple of N1, 000 subject to a minimum of N50, 001, 000.

Authorized Money Market Dealers are allowed to submit multiple bids. A bid may be for authorized Money Market Dealers own account, Non – Money Market Dealers or interested members of the public. The result of the auction would be announced by 11.30 a.m. on Wednesday, February 27, 2019. The Bank reserves the right to reject any bid.

Allotment letters would be issued for successful bids on Thursday, February 28, 2019, while payment for the successful bids should be made to your account with Central Bank of Nigeria not later than 11.00 a.m. on Thursday, February 28, 2019.

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54

T H I S D AY Ëž FEBRUARY 20, 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

Uzoho Suspended,Fined in Cyprus overâ&#x20AC;&#x2DC;Fakeâ&#x20AC;&#x2122;Health Certificate Duro Ikhazuagbe Nigeriaâ&#x20AC;&#x2122;s first choice goalkeeper, Francis Uzoho, who is on loan at Anorthosis Famagusta has been suspended for one game by the Cyprus Football Association (CFA).

The Cypriot FA yesterday upheld the appeal filed by Apollon Limasol who challenged the fielding of Uzoho by Famagusta. Limasol insisted in their protest to the CFA that the Deportivo La Coruna goalkeeper on loan at Famagusta played the debut match with an invalid health certificate procured for him without going through necessary medical.

Apart from the suspension, Uzoho who has already missed Famagustaâ&#x20AC;&#x2122;s last weekend game is to pay a fine of â&#x201A;Ź1,000 (about N400,000) while his club has been slammed with six-point deduction in addition to forfeiting the three points in the disputed match it won 1-0 to Limasol.

But in a swift move after the CFA announced it verdict in the dispute, Famagusta confirmed they will appeal against the nine-point deduction.

In a statement on the Anorthosis website, the club said it will ask the CFA to postpone its final regular league game while an appeal is lodged.

The overall deduction of nine points has seen the club drop into the bottom half of the 12-team league, which sees six clubs play each other twice more to decide who is relegated.

That leaves the top six clubs to complete their seasons against each other to decide the Cypriot champions.

When contacted by BBC yesterday, Uzoho and his representatives declined to comment on the situation.

Uzoho joined the Cypriot giants on loan from Spanish side Deportivo La Coruna on deadline day, in search of top-flight football ahead of the 2019 Africa Cup of Nations.

Capped 12 times by Nigeria, he played all three matches as the Super Eagles exited the 2018 World Cup in the group stage.

In October 2017, Uzoho became the youngest foreign goalkeeper to ever play in La Liga and marked a memorable Deportivo La Coruna debut with a clean sheet.

Uzoho was part of the victorious Nigeria squad at the 2013 Under-17 World Cup in the United Arab Emirates, albeit without playing a single minute at the tournament.

He only arrived at Deportivo from Qatarâ&#x20AC;&#x2122;s Aspire Academy in January 2017.

Uzoho has been suspended, ďŹ ned in Cyprus

EPL: Balogun Doubtful for Clash with Ndidi, Iheanacho Leon Balogun is rated as doubtful to take to the pitch when Brighton & Hove travel to Leicester City in the next round of matches in the Premier League. The Nigeria international has returned to the treatment room after suffering a shoulder injury in training ahead of the Seagulls Emirates FA Cup clash against Derby County. Brighton & Hove have

not confirmed how long Balogun will be sidelined but Super Eagles Coach Gernot Rohr will be concerned about the fitness of the central defender as he is expected to announce his roster for the upcoming games against Seychelles and Egypt within the next 18 days. The 30-year-old only recently recovered from illness before this latest setback. A metatarsal

fracture kept Balogun out of the 2014 World Cup in Brazil and he was not considered for the 2017 AFCON qualifiers against Tanzania and Egypt after suffering injuries.

He was not available for selection against Togo and South Africa in June 2017 due to a thigh complaint and suddenly fell ill just before a pre-World Cup friendly vs Serbia.

FIFA President,Infantino,Mourns Ogunjobi r5IF GPSNFS /'" 4DSJCF GPS CVSJBM .BSDI FIFA President Gianni Infantino has added his voice, on behalf of the world football-governing body, to the overflow of condolence messages to the family of Chief Taiwo Ogunjobi, the former Secretary-General of then NFA and former Board Member who passed away on penultimate Monday.

In a letter dated 19th February 2019, and addressed to President of Nigeria Football Federation (NFF), Mr. Amaju Melvin Pinnick, the worldâ&#x20AC;&#x2122;s number one football administrator wrote: â&#x20AC;&#x153;I would like to express my sincerest and heartfelt condolences on the passing of former Nigeria international player and administrator, Taiwo Ogunjobi. Words seem inadequate to express the sadness we feel for this loss. â&#x20AC;&#x153;Taiwo had a fulfilling and enriching career in football. As a player, he will be remembered notably as the captain of the Shooting Stars SC team that reached the final of the Africa Cup of Champion Clubs in 1984.

After his retirement, he served as Secretary-General of the Nigeria Football Federation between 2002 and 2005, and was member of

the NFF Executive Committee between 2006 and 2010. â&#x20AC;&#x153;He also officiated as Match Commissioner for two 2010 World Cup Qualification Matches and was a Member of the Nigeria Football Federation Delegation participating in different FIFA competitions between 2002 and 2010â&#x20AC;ŚHis legacy and achievement â&#x20AC;&#x201C; on and off the pitch â&#x20AC;&#x201C; will not be forgotten, and he will be truly missed. â&#x20AC;&#x153;On behalf of the international football community, I wish to extend our deepest sympathy to the Nigeria Football Federation, and to Taiwoâ&#x20AC;&#x2122;s family, friends and loved ones. Our thoughts are with all of you. We hope that these memories and our words of support may help bring some peace and solace at this difficult time.â&#x20AC;?

Similarly, two-time Head Coach of the senior national football team and a former FIFA Advisor on Technical Matters, Chief Adegboye Onigbinde and former NFF General Secretary, Musa Amadu have both expressed their condolences on the passing of the Chairman of Osun State Football Association.

Onigbinde, who coached the youthful Nigeria squad that won the silver medals of the 1984 Africa Cup of Nations â&#x20AC;&#x201C; of which Ogunjobi was a member â&#x20AC;&#x201C; said the demise of the respected administrator was a big shock. â&#x20AC;&#x153;Indeed, words are inadequate to express the sorrow and grief that I feel. He was my player in the National Team and he later excelled himself in administration.

I pray that God will grant his soul eternal rest and also comfort the family and friends that he has left behind.â&#x20AC;? Amadu, who served as NFF Deputy General Secretary between 2006 and 2010 while Ogunjobi was a Member of the Board, before serving as General Secretary between 2010 and 2015, expressed shock on the departure of the amiable one-time Chairman of NFF Technical and Development Committee. â&#x20AC;&#x153;The news of Chief Ogunjobiâ&#x20AC;&#x2122;s death came like a thunderbolt.

I found it difficult to believe.

But what can we do? I pray that God will receive his soul and also grant those he has left behind, including the Nigerian Football family, the fortitude to bear the big loss.â&#x20AC;?

NPFL: Rangers Aiming for All Three Points against Wikki As the 2018/2019 Nigerian Professional Football League (NPFL) abridged season continues mid-week today, Rangers International F.C will hope to take all Match-day 10 three points at stake against Bauchiâ&#x20AC;&#x2122;s Wikki Tourists inside the Nnamdi Azikiwe Stadium in Enugu. The Coach Olugbenga Ogunbote tutored side still basking in the euphoria of earning a well deserved 1-1 draw against Tunisian C.S. Sfaxien in a CAF Confederation Cup encounter, will be relying on its attacking prowess to wrestle the maximum points at stake. With six points from three matches played in the ten-week old league, Rangersâ&#x20AC;&#x2122; defence line anchored on the quartet of Tope Olusesi, Isaac Loute, Pape Ousmane Sane and Semiu Liadi will be alert to snuff out any threat from the visitors coached by Aliyu Zubairu.

Wikki is currently placed sixth in Group A on nine points from

seven matches winning three and losing four while having five goals and conceding six goals.

Bright Silas who has been firing from all cylinders since the start of the season said ahead of todayâ&#x20AC;&#x2122;s game: â&#x20AC;&#x153;We know that Wikki is a good team but we are better placed to pick all three points at stake. â&#x20AC;&#x153;No doubt, it will be a difficult match but we are prepared for all they will bring and at the end, we collect our three points,â&#x20AC;?

Silas stressed. Newly acquired midfield maestro, Tony Msonter said, â&#x20AC;&#x153;Anyday, Wikki is a good side but we are united as a team to get the maximum points at stake. We respect them but I donâ&#x20AC;&#x2122;t see them as a threat to our target of been amongst teams for the super six contest at the end of the regular season. Our fans should come out and cheer us to another sweet victory.â&#x20AC;?

Rangers have been having an edge over the Bauchi side in the last two season earning a 3-2

win in a Match-day 13 fixture in Enugu and securing a 1-1 draw in the reverse fixture on Match-day 33 while last season, it was a 3-0 spanking received by the â&#x20AC;&#x2DC;Elephantsâ&#x20AC;&#x2122; from Bauchi in their first meeting on a Matchday 19 fixture on April 29, 2018 inside the main bowl of Nnamdi Azikiwe stadium, Enugu.

MATCH-DAY 10 GROUP A Kwara Utd v Tornadoes Insurance v Rivers Utd Enyimba v Katsina Utd MFM FC v Sunshine Rangers v Wikki Lobi v Remo Stars GROUP B Gombe v Go Round Nasarawa v Yobe Stars Plateau v Kada City Pillars v Abia Warriors Akwa Utd v IfeanyiUbah Elkanemi v Heartland

CHAMPIONS LEAGUE

Ronaldo Returns to Madrid for Atletico Cristiano Ronaldo returns to Spain this evening ready to bury the demons of his nightmare Champions League debut for Juventus against one of his favourite victims Atletico Madrid.

The former Real Madrid player was sent off after 28 minutes in his first European game for Juventus in Spain last September against Valencia but the Italians went on to win 2-0 even without the Portuguese star.

Massimiliano Allegriâ&#x20AC;&#x2122;s Juventus play their Champions League last 16, first-leg tie against Atletico at the Wanda Metropolitano midweek as they continue their

push for the European title which has eluded them for over two decades. Juventus are pinning their hopes on their â&#x201A;Ź100million summer signing to give them a first European win over Atletico, a team against whom the fivetime Ballon dâ&#x20AC;&#x2122;Or winner has a long history.

It will be a homecoming of sorts for the 34-year-old Ronaldo who lived a stoneâ&#x20AC;&#x2122;s throw away from Atleticoâ&#x20AC;&#x2122;s training centre.

Juventus signed Ronaldo because of his Champions League credentials.

No player owns as many Champions League titles as

Ronaldo who has won five, four with Real Madrid and one with Manchester United.

He has scored a record 121 goals in the competition and of these 57 have proved decisive.

RESULTS Liverpool 0-0

Bâ&#x20AC;&#x2122;Munich

Lyon

Barcelona

0-0

TODAY Atletico v Juventus Schalke 04 v Man City

5 ) * 4 % ": t WEDNESDAY, FEBRUARY 20, 2019

55

Wednesday February 20, 2019

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Price: N250

MISSILE

Shittu to Oshiomhole â&#x20AC;&#x153;When Oshiomhole supervised horrible primary elections of the party, who called for his resignation? I will not support such a call for the resignation of the INEC chairman. To err is humanâ&#x20AC;? â&#x20AC;&#x201C; The Minister of Communications, Alhaji Adebayo Shittu, opposing the call by the National Chairman of the ruling APC, Adams Oshiomhole for the resignation of INEC Chairman, Prof. Mahmood Yakubu.

KAYODEKOMOLAFE THE HORIZON

kayode.komolafe@thisdaylive.com

0805 500 1974

A Vote for Peaceful Elections T

here is a vote to cast even before Saturday regardless of the logistical preparedness of the Independent National Electoral Commission (INEC).

It is a vote for peaceful elections.

On this note, all voters should vote for the same purpose. The successful conduct of the vote in which political parties compete depend largely on this crucial vote for peace.

How to cast this crucial vote for peace seems to be at the heart of the controversy triggered on Monday by President Muhammadu Buhari.

The Presidentâ&#x20AC;&#x2122;s party, the All Progressives Congress (APC), held an emergency caucus meeting on the postponement of the presidential and National Assembly elections. In his address to the meeting, Buhari said inter alia: â&#x20AC;&#x153;We have directed the military and other security agents to be ruthlessâ&#x20AC;Ś I want to warn anybody who thinks he has enough influence in his locality to lead a body of thugs to snatch ballot boxes or disturb the voting system, he will do it at the expense of his own lifeâ&#x20AC;Śâ&#x20AC;?

Furthermore, the President met security chiefs yesterday and official assurances were made that there would be public safety during the elections. Strong warnings were also issued against electoral offences.

Now, you can fault the president for seemingly giving a marching order for extra-judicial killing

when he said that he who embarks on ballot snatching would be doing so â&#x20AC;&#x153;at the peril of his own life.â&#x20AC;? Extra-judicial killings are not justified under Nigerian laws. Besides, the Electoral Act provides the penalty for electoral offences. The Act does not prescribe death penalty for ballot snatchers. The law rather makes provisions for the arrest and prosecution of a ballot box snatcher and a 24-month jail term is the punishment.

More fundamentally, the point cannot be over-emphasised that electoral offences like other crimes should be fought within the ambit of the law. There is hardly any dispute about the centrality of the rule of law to the democratic process. In fact, on this score there should be a national consensus regardless of the partisan divisions.

However, you cannot fault the President as the Commander-in-Chief for talking tough given the tragic history of electoral violence especially in the last 20 years in this land. The enormity of electoral crimes including violence demands even more than tough talking! Hundreds of lives have been lost in the course of electoral violence. For too long, violence has diminished the legitimacy of electoral outcomes.

Rather than being a festival of democracy in which choice is made based on conviction, elections have been conducted like wars. More

often than not, the â&#x20AC;&#x153;political structure on groundâ&#x20AC;? that the Nigerian politician talks about gleefully is actually a euphemism for the army of thugs being organised to fight on the day of election.

To be sure, those who snatch ballot boxes are not peaceful actors in the electoral process.

They often carry out their heinous crimes as armed electoral robbers. Hence, blood and tears have defined the electoral seasons.

On the day of election, Nigeria looks like a nation resisting an invasion. Borders are closed.

Movement is insensitively restricted. Socioeconomic activities are paralysed. Without a formal declaration, a state of emergency exists in the morning of election. All this official disruption of the rhythm of the public space is assumed to prevent or minimise violence.

Doubtless, electoral violence is a grave obstacle to the liberal democratic development of Nigeria.

Critics have legitimately expressed outrage at Buhariâ&#x20AC;&#x2122;s statement. But a greater outrage ought to be expressed at the manifestations of violence heralding the elections. Undeniably, the rule of law cannot subsist in a state of anarchy.

Yet, elections sometimes become anarchy in some parts of the country. It would be hypocritical to deny the portents of violence about the coming elections. Reports of arms flow, activities of thugs, suspected arson and assassinations as well as incitements are among

the outrageous developments heralding the elections. Killings were recorded even during the party primaries.

So, the criticism of Buhariâ&#x20AC;&#x2122;s political gaffe should be done in the proper context.

All told, the government should muster the capacity to stop electoral violence within the precincts of the rule of law. Perhaps, if Buhari had implemented the reports of past panels on electoral offences, he would not have had any cause to be so angry at the situation today, much less making a political gaffe. Maybe, electoral violence might have been curbed significantly. One recommendation that successive administrations have failed to implement for over 10 years is the establishment of a tribunal to try electoral offenders. For instance, over 5, 000 suspected electoral offenders were reportedly arrested during the 2011 elections. How many of them have been successfully prosecuted?

The President should, therefore, cast the first vote for peaceful elections by making a clarification that his Monday statement is not an order for extra-judicial killings. To do so would be squarely in the public interest.

It would be enough for the law enforcement and security agents to do their job competently as defined by law: electoral violence should be prevented and when electoral laws are violated the culprits should be duly prosecuted.

Itâ&#x20AC;&#x2122;s Never Late to Apologise Issa Aremu After so much legitimate mass national and global â&#x20AC;&#x153;fireâ&#x20AC;? and â&#x20AC;&#x153;furyâ&#x20AC;? that trailed the infamous vote postponement statement of INEC Chairman Professor Mahmood Yakubu (without apology and belated â&#x20AC;&#x153;regretâ&#x20AC;?) itâ&#x20AC;&#x2122;s time to prepare for 2019 polls.

Like many of the 84 million registered voters and hundreds of candidates (of which am one), I received the news of early Saturday postponed scheduled elections with shock and mixed feelings.

First, with deep disappointment as a voter/ candidate who like others was ready with my PVC to exercise his democratic right to vote but could not do so.

Secondly as a convinced democrat, I received the news with renewed optimism that INEC has another one week to put the proper arrangements in order for free, peaceful and fair elections. The Monday media briefing by INEC Chairman, Professor Mahmood Yakubu according to which ballot papers, results sheets among other electoral materials have been delivered to 35 states and FCT by yesterday had further cemented the optimism of most Nigerian voters.

But that is if Professor Mahmoodâ&#x20AC;&#x2122;s assurance word count was not what the great Nigerian legendary Booker Prizewinning author Ben Okri calls â&#x20AC;&#x153;Words said and not meantâ&#x20AC;? in his essay entitled â&#x20AC;&#x153;In A Way of Beingâ&#x20AC;?. Certainly our days in recent times have been â&#x20AC;&#x153;poisoned with too many wordsâ&#x20AC;? by INEC chieftains, â&#x20AC;&#x153;Words that conceal...Dead wordsâ&#x20AC;?!

Nonetheless my party (the Labour Party) is ready and willing to partner with INEC for successful rescheduled Presidential and National Assembly Elections on February 23, 2019, the governorship, state House of Assembly and Federal Capital Territory (FCT) Area Council

INEC Chairman, Prof. Mahmood Yakubu Elections on the March 9, 2019. INEC must improve on its corporate governance by sticking to its rescheduled timetables in order to sustain confidence it has commendably engendered so far in the preparations for the 2019 elections. It was certainly unacceptable that some voting materials are not ready after four years of preparations.

It was also embarrassing that the postponement came so late in the day with all the attendant costs for poor voters who had to travel to and for to vote and costs to an economy coming from economic recession. There was enough notification for 2015 postponement based on security reasons.

INEC was right that the postponement was â&#x20AC;&#x153;one difficult decisionâ&#x20AC;?, but has INEC given a thought to what the postponement for poor electorate who enthusiastically travelled on modest budgets only to wake up for no voting show? I certainly urge all key stakeholders to bear with INEC

for successful polls this weekend. All is well that ends well in the consolidation of Nigerian democratic process. This is the sixth democratic transition since 1999. This transition will be as successful as the past despite the challenges.

All said, 2019 marks another transition year in Nigeria. I am personally proud to witness this historic democratic process-taking place 20 years of uninterrupted democratic process.

Yours sincerely is even more inspired to vote because, thanks to INEC with its imperfections, I have my Permanent Voterâ&#x20AC;&#x2122;s Card (PVC).

Having witnessed military dictatorships of varying hues with their notorious restrictions on liberty and freedom, alterations of rules, and violation of trade unions and workers rights, it is exciting to be part of the on-going sixth uninterrupted democratic transitions at federal, states and legislative levels. As Nigerians we can legitimately deserve some self-praise for keeping abiding faith with democracy (with all its imperfections!) for two decades. With as many as 84 million registered voters (almost the population of Egypt!) Nigeria is the biggest democracy in Africa and indeed among the global top 10 democracies. With milestones of six federal and state elections as well as hundreds of local government elections, Nigeria is truly a democracy destination, comparable to South Africa, Brazil, India and Indonesia.

We must refuse to see political doom in the forthcoming elections despite the political fireworks and partisan star-words. On the contrary, we must see democratic hope. All we need is to consolidate on our democratic gains and minimize democratic losses through zero level tolerance to rigging and violence.

In fullest of time, the presidential, National Assembly and state elections are here. The on-going democratic enthusiasm and anxiety is certainly inspiring. Votes must just count.

All we need are; the credibility of the electoral

register, sanctity of the election time table and rules, independence of INEC, and transparent democratic behaviour of all the contestants.

Let there be contest of ideas and policies not battle and conquest of contestants.

These elections are not short of candidates.

With as many as 77 political parties and hundreds candidates, the problem is choice not lack of it. The forthcoming elections are about us all Nigerians; uninterrupted electricity supply, physical security of lives and property, social and economic security through job creation, stable exchange rate of the Naira, lower inflation.

Furthermore, when a quarter of Africaâ&#x20AC;&#x2122;s total populations vote, these elections are also about Africa. In any case Nigeria and Nigerians have promoted democracy in other countries such as Liberia, The Gambia among other countries.

However with all the best of efforts by all stakeholders, being mortal allows for some imperfections.

The character and values of chief executives of public and private organisations come to the fore when things go wrong.

I agree with Martin Kalungu- Banda who, in his 2007 book entitled leading Like Mandela, pointed to how the legendary Nelson Mandela serially apologised for some mistakes and errors of judgment as a statesman.

Itâ&#x20AC;&#x2122;s certainly not too late for Yakubu to apologise for the last Saturday scandalous incompetence.

Even at that, I still identify with the observation of Tryon Edwards that â&#x20AC;&#x153;Right actions in the future are the best apologies for bad actions in the pastâ&#x20AC;?. Let there be right actions on the part of INEC from this weekend.

Happy voting and vote counts. t$PNSBEF "SFNV JT B .FNCFS PG /BUJPOBM *OTUJUVUF BOE -BCPVS 1BSUZ (VCFSOBUPSJBM $BOEJEBUF JO ,XBSB TUBUF

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